Scalping on GBPUSD
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    Scalping on GBPUSD

    I can see that the reverse is happening with GBPUSD, the pair inch up and you can easily recognize it.

    The indicator I use here is PFM Signal Trend. It's easy, just follow the arrows of an indicator.

    + When the green arrow appears, there is an uptrend
    + When the red arrow appears, there is a downtrend
    Attached Images Attached Images
    • File Type: jpg 2.jpg (90.4 KB, 60 views)

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    Last edited by SammyLinh; 05-04-2016 at 10:49 AM.

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    Hi, Please don't forget to add the EA to the thread, if you won't add it the thread shall be deleted .

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    Registered user layigold's Avatar
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    On which time frame does this work better at least from your own experience for a year of using the EA ?I do not trade on lower time frame because of too much noise from the market on lower time frame and my own analysis of GBP/USD from technical point of view supports uptrend for the pair and I will only consider any pull back from here as a correction and this will even provide the opportunity for any interested buyer. Anyway , let us the EA because it is not attached here.

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    Registered user shambca7's Avatar
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    I have so many questions about this thread what is the name of this trading style? And can I use this in other currency pairs because thread creator is only talking about the gbp/usd currency pair. The another question is that its a non repaint indicator or painted indicator. I have seen this kind of indicator but they don't work in sideways market.

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    Well sir I think this is a trend following trading system I have some experience of this kind of trading style but I am using some moving averages in my strategy SMA 8, 10 and 200 are the part of my trading strategy and I also get the same style of pattern in my trading style most of time. Trader can work with small and long both kind of time frame with my style but I don't have much idea of this one.

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    Quote Originally Posted by layigold View Post
    On which time frame does this work better at least from your own experience for a year of using the EA ?I do not trade on lower time frame because of too much noise from the market on lower time frame and my own analysis of GBP/USD from technical point of view supports uptrend for the pair and I will only consider any pull back from here as a correction and this will even provide the opportunity for any interested buyer. Anyway , let us the EA because it is not attached here.
    I usually use H1 and H4 for my trade.
    According to my indicator, as you said, the pair was in a strong uptrend, and there were some pull-backs, but they just correction. From the first green arrow, there appeared a red arrow in a short time, but the green one appears again.
    Hoever, I think the bearish trend now is quite solid

    Capture 2.jpg

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    Quote Originally Posted by SammyLinh View Post
    I usually use H1 and H4 for my trade.
    According to my indicator, as you said, the pair was in a strong uptrend, and there were some pull-backs, but they just correction. From the first green arrow, there appeared a red arrow in a short time, but the green one appears again.
    Hoever, I think the bearish trend now is quite solid

    Capture 2.jpg
    Your indicator looks interesting. But as I see the bullish trend is dominant in more time-frames: m1, m5, m15, h4 and d1. I guess how to interpret an indicator also depends on your own trading strategy

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    Quote Originally Posted by alexmax View Post
    Your indicator looks interesting. But as I see the bullish trend is dominant in more time-frames: m1, m5, m15, h4 and d1. I guess how to interpret an indicator also depends on your own trading strategy
    Yes, it's right. If you want to trade in short-term, m1, m5, m15 is your choice. Otherwise, in long-term, you can use the other tf

    - - - Updated - - -

    Quote Originally Posted by shambca7 View Post
    I have so many questions about this thread what is the name of this trading style? And can I use this in other currency pairs because thread creator is only talking about the gbp/usd currency pair. The another question is that its a non repaint indicator or painted indicator. I have seen this kind of indicator but they don't work in sideways market.
    My indicator called PFM signal trend. You can use with any currency pairs and your chosen timeframe.
    Our indicator is a non repaint one.
    With the sideways market, you can choose another timeframe with a clear trend, and in each tf, my indicator shows particular trend
    You can experience it by youself and see if this indicator suit your trading style
    http://pfmfund.com/signal-trend-free-en.html

    - - - Updated - - -

    Quote Originally Posted by forexlearner View Post
    Well sir I think this is a trend following trading system I have some experience of this kind of trading style but I am using some moving averages in my strategy SMA 8, 10 and 200 are the part of my trading strategy and I also get the same style of pattern in my trading style most of time. Trader can work with small and long both kind of time frame with my style but I don't have much idea of this one.
    My indicator is used to spot the changes of market trends
    + When the green arrow appears, there is an uptrend
    + When the red arrow appears, there is a downtrend
    It depends on your trading style, but I use this to find an appropriate order.
    You can experience this via http://pfmfund.com/signal-trend-free-en.html

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    Registered user layigold's Avatar
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    Quote Originally Posted by SammyLinh View Post
    I usually use H1 and H4 for my trade.
    According to my indicator, as you said, the pair was in a strong uptrend, and there were some pull-backs, but they just correction. From the first green arrow, there appeared a red arrow in a short time, but the green one appears again.
    Hoever, I think the bearish trend now is quite solid

    Capture 2.jpg
    That is quite interesting and I can assure you that signals are more reliable on higher time frames and the downward movement that we see on GBP/USD now is just a correction of the market, the dominant trend still remains bullish. It is a great opportunity for the bulls to buy this pair again at lower price. I will be looking for a good support level where I will buy this pair and ride long with the trend

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    Oh yes its important to know the cycle of the trend, so many don't have a correct idea that how they have to understand the concept of trend. They believe that if market is going continue down then its a downtrend but that's not true we should check all those higher high, higher low, and lower high lower low points to check the uptrend and downtrend process. This type of pattern can be also called as twin tower.

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