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5min

USDJPY 9/7/23UJ has not actually confirmed its range yet but we will be looking for it to do this on or near market open, now if we don't confirm we will of course follow it down to the next high and low setup we can find. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by rosshayes
GBPJPY 9/7/23GJ showing us it may want lower prices as we shift lower from our last range we created, following this understanding we have we will inky be looking to tap into our unmitigated OB at the high of our swing and then look to follow the bearish structure lower if we have a successful tap in before hand. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by rosshayes
GBPJPY Breakout scalpingLooking at tow key levels on the chart, using the 5 minute and just taking a breakout above or below the level Short 8-12 pip stops with next level target/exhaustion of the move Quick trades, may open and close a few times, market entries, tight stops, low risk. All stops will adjust to the exact base of the breakout candle, + 3 pip spread for shorts Enter, it goes, great, it don't goes, cut it immediately Break must happen with momentum, otherwise, adjust the levels Overall looking short for downtrend, but just taking breaks up or down, because the market can change at any time, and this is speed trading so not going to super analyze it, just KISS it
Short
by ForexStoryteller
why 5 min time frame is best for intraday or scalp.The 5-minute time frame is often considered to be one of the best for intraday or scalp trading because it allows traders to make quick decisions based on short-term price movements. Intraday and scalp traders typically look for small price movements in a short period of time, and the 5-minute chart provides a detailed view of these movements. Additionally, the 5-minute time frame allows traders to easily identify key support and resistance levels, and to quickly enter and exit trades based on these levels. Overall, it's considered a good balance between having enough data to make informed trades, while still being able to act quickly on trades.
B
by bulllegacy