Scalping strategy to finish the year strong

I cashed out my 113 pips on USD/Jpy this morning. Now I’m looking for the dip on D1 before going back in. That’s only tentative, of course. Things change all the time.

European currencies finally awoken!

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I’m looking at Silver. Big disparity.

@AkiyamaShinichi

I’m jealous.

I’m limited to Forex with my broker. Otherwise, I’d take your advice.

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I reckon restrictions in the US?

Which broker are you using?

Just curious, if you don’t mind sharing.

@AkiyamaShinichi
IG us

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Ah, that checks out. My first broker was with IG too.

The market is hyperventilating.

This morning, I rode Usd/Jpy up. Now I just rode it down.

That makes for a very nice Friday when I don’t usually plan on making as much as the other weekdays.

.

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Great for reloads.

EJ at 161. Only 300 pips to go. :smiley:

@AkiyamaShinichi

Looks like 167 was the last big high back in 2008.

We got some room to play with.

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Passive Income opportunities chart


There are other rules that could be used too. Close on the first candle in profit? Re-enter if TMA trend continues? Only trade on Order Block signals?

Weekly charts allow locking in profit. Maybe several trades in a row hit the SL that was moved to profit after a single candle. But some of the ones that we lock into profit, or at least break even, will run for weeks and weeks as we continue to move our SL to lock in more and more profits.

The daily chart has already produced a Fair Value Gap, indicating timing of entry could be good. I am hoping price will break through the older yellow order block. Choices are whether to enter now, or to wait for pullback on the D1, or both.

Entering now would be considered getting in late on D1, but just about on time for W1.

I didn t understand. Are you looking for buys or sells?

@FedeRomero

Buys.

The green box (standing rectangle) is the fair value gap. If you look at the D1 chart on the bottom left, there is the previous green box, Look what price did after that.

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so it has to go down to the last FVG and then shoot up

@FedeRomero

The FVG being green in color means it is a buy signal. So you should be able to enter a buy trade when the market opens. This is true on both the D1 and W1 charts.

If you are trading with the idea of using the W1 chart to be in the trade for several weeks, or even months, you know there will always be a pullback or two, or maybe several, as the overall trend continues upward.

If you are trading with idea of using the D1 chart, you can decide to close before the pullback, or delay entering if Monday’s candle is red.

Again, no matter how long you want to hold on to the trade, the buy signal has appeared for both D1 and W1.

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thats great, Thank you

I hope I haven’t confused everyone.

no, no, its clear

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