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pawpaw1000 replied Apr 30, 2010Nobody is doing that... I was commenting on a possible scalping strategy using engulfing 5m bars... 10 - 15 pips each time...
Cable Update (GBPUSD)
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pawpaw1000 replied Apr 30, 2010thanks wormy, was thinking it would work best with the trend... You still gonna trade more today? seems like volume is dropping badly..
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pawpaw1000 replied Apr 30, 2010take the last 5 engulfing candles on m5 and say you only wanted a RR of 1 with s/l above previous candle high... You would have gotten TP EVERY TIME!!! thats all I'm saying, just floating it out there to see if someone knows something about this ...
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pawpaw1000 replied Apr 30, 2010never gonna try it but looking at the m5 it seems to always be good for at least 10 - 20 pips... Whats wrong with that? I'm not saying it will give me the trend reversal...

Cable Update (GBPUSD)
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pawpaw1000 replied Apr 30, 2010maybe good movement for a scalp? have a look at m5 and see what pips you can make just by using engulfing candles and putting stop above previous candle high...
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pawpaw1000 replied Apr 30, 2010somebody shoot me... Touches my s/l to the pip (it was above resistance) and then continues down...
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pawpaw1000 replied Apr 30, 2010stopped... looking for engulfing candle on m5 to enter a short scalp... WTF WTF WTF WTF!!!
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pawpaw1000 replied Apr 30, 2010
Reckon I'm dead mate... Might close manually at a better price...Cable Update (GBPUSD)
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pawpaw1000 replied Apr 30, 2010I only got in below 80... Wasnt here for the 1st leg down!
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pawpaw1000 replied Apr 30, 2010well, how nice... looks like i may have been caught in a bear trap... Very nice cable... S/l 5314
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pawpaw1000 replied Apr 30, 2010bounced nicely off 25ma on m5... keep going down you BIAT... Until the spike...
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pawpaw1000 replied Apr 30, 2010man, got 38.2 and 80 to break, reckon it'll go back up to 25 before making another run... or maybe 10
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pawpaw1000 replied Apr 30, 2010mooi, nou praat jy my taal! Got a buy signal so am just waiting for a good entry and I'm long looking at todays high... and a break of 27... mmm... with s/l at 5290 that gives me a rr of 1.5
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pawpaw1000 replied Apr 30, 2010cloggs, hope you made yourself a orange background to your trading screen... If I got it right its queens day no?
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pawpaw1000 replied Apr 30, 2010H1 starting to look bullish again with that pin bar which bounced off 38.2 retracement... mmmm. what to do. WAIT FOR MY EMA's TO SIGNAL, DONT JUMP THE GUN!
Cable Update (GBPUSD)