In this article, we will show traders a simple strategy that can be used to scalp pips from a ranging currency pair such as the GBP/JPY. This currency pair has a wide intraday range, so it is possible to get very good scalping opportunities when the right indicators are used.
Top UK Forex Brokers For Scalping
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Our picks at a glance
- 1 Pepperstone Top score: Platforms 4.8 Info Visit Pepperstone
- 2 XTB Top score: Trust 4.8 Info Visit XTB
- 3 Interactive Brokers Top score: Assets 4.3 Info Visit Interactive Brokers
- 4 Vantage FX Top score: Trust 4.7 Info Visit Vantage FX
- 5 IG Top score: Fees 4.5 Info Visit IG
- 6 Forex.com Top score: Research 4.3 Info Visit Forex.com
- 7 Eightcap Top score: Mobile 4.6 Info Visit Eightcap
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Our top pick
Pepperstone provides forex spreads on the EUR/USD averaging just 0.12 pips with their Razor account. This is highly competitive. Their extensive portfolio includes over 100 currency pairs, which exceeds what most rivals offer. Furthermore, Pepperstone stands out by offering three unique currency indices: USDX, EURX, and JPYX, which are rare on other platforms. They have been recognised with our 'Best Forex Broker' award twice.
In our tests, Pepperstone provided execution speeds below 20ms and minimal slippage on major currency pairs, perfect for scalping. Raw spreads averaged 0.1–0.3 pips with a $3.50 per lot commission. The ECN-style pricing and cTrader’s one-click depth ensured high reliability. Transparency and consistent fills were notable, even in volatile sessions.
- GBPUSD Spread
- 0.4
- EURUSD Spread
- 0.1
- GBPEUR Spread
- 0.4
- Total Assets
- 100+
- FCA Regulated
- Platforms
- Pepperstone Trading Platform, MT4, MT5, cTrader, TradingView
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. 73-89% of retail investor accounts lose money when trading CFDs.
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XTB offers access to over 70 currency pairs, with competitive spreads averaging about 1 pip for major pairs. Its xStation platform is user-friendly, providing traders with top-tier charting tools, over 30 indicators, and diverse order types to support different strategies and risk management needs.
In our tests, XTB’s xStation 5 excelled in trading, offering sub-100 ms executions and minimal slippage even during news surges. Pro/Zero accounts provide raw spreads from 0.1 pips with a small commission. While ECN-style pricing is absent, the platform remains a strong choice for active traders with fast order fills, 57 FX pairs, and extensive customisation options.
- GBPUSD Spread
- 1.4
- EURUSD Spread
- 1.0
- GBPEUR Spread
- 1.4
- Total Assets
- 70+
- FCA Regulated
- Platforms
- xStation
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money
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IBKR offers a wide selection of more than 100 forex pairs, including major, minor, and exotic options, exceeding most competitors except CMC Markets. Trading takes place across various platforms with institutional-quality spreads from 0.1 pips. It supports over 100 advanced order types like brackets, scale, and OCA orders.
In our tests, Interactive Brokers provided top-tier execution with latency under 10ms and extensive liquidity, perfect for advanced scalping. EUR/USD spreads were as low as 0.1 pips, with commissions from $2/lot. While not for casual traders, its TWS platform and direct market access offer unparalleled transparency and customisation for serious traders.
- GBPUSD Spread
- 0.08-0.20 bps x trade value
- EURUSD Spread
- 0.08-0.20 bps x trade value
- GBPEUR Spread
- 0.08-0.20 bps x trade value
- Total Assets
- 100+
- FCA Regulated
- Platforms
- Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower
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Vantage offers over 55 currency pairs, exceeding industry standards, allowing seasoned traders numerous opportunities. Its extensive liquidity pool ensures forex spreads start at 0.0 pips in ECN accounts, with a competitive round-trip commission usually set at $6.00 per standard lot. Additionally, there are no deposit fees or concealed charges.
- GBPUSD Spread
- 0.5
- EURUSD Spread
- 0.18
- GBPEUR Spread
- 0.5
- Total Assets
- 55+
- FCA Regulated
- Platforms
- ProTrader, MT4, MT5, TradingView, TradingCentral, DupliTrade
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IG provides an extensive selection of over 80 currency pairs through its own web platform, mobile app, or MetaTrader 4. For advanced charting and forex analysis, the ProRealTime software is available. Testing shows forex spreads are competitive, beginning at 0.1 pips on major pairs such as EUR/USD.
In our scalping tests, IG Markets’ DMA account achieved execution under 15ms, with spreads starting at 0.16 pips and a $6 round-turn commission. Deep liquidity and NDD routing reduced slippage. The L2 Dealer platform, with advanced order types and real-time depth, supports precise professional scalping.
- GBPUSD Spread
- 0.9
- EURUSD Spread
- 0.86
- GBPEUR Spread
- 0.9
- Total Assets
- 80+
- FCA Regulated
- Platforms
- Web, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral, ProRealTime
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
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FOREX.com remains a leading FX broker, providing 80 currency pairs with highly competitive fees. EUR/USD spreads can reach as low as 0.0, with a $7 commission per $100k, making it a standout choice.
When testing FOREX.com, we found execution speeds averaged 25ms, with moderate slippage during volatile periods—a factor for active traders. EUR/USD spreads on standard accounts ranged from 1.0 to 1.3 pips, restricting scalping efficiency. While it's STP-supported with stable platforms and VPS options, the absence of raw spread pricing was a drawback for aggressive traders.
- GBPUSD Spread
- 1.3
- EURUSD Spread
- 1.2
- GBPEUR Spread
- 1.4
- Total Assets
- 84
- FCA Regulated
- Platforms
- WebTrader, Mobile, MT4, MT5, TradingView
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Eightcap provides over 50 currency pairs, matching the industry norm but falling short of leaders like CMC Markets, which offers more than 300. Nonetheless, Eightcap distinguishes itself with institutional-quality spreads starting from 0.0 pips on major pairs such as EUR/USD. The broker's competitively low commissions at $3.50 per side further enhance its appeal. Eightcap also equips traders with comprehensive forex data, including essential fundamentals, bullish and bearish signals, and a calendar monitoring significant foreign exchange market events.
When testing Eightcap’s Raw account, we found EUR/USD spreads began at 0.0–0.1 pips with a $3.50 per lot commission. Execution latency was typically below 15 ms, experiencing minimal slippage, even during high-impact events. With ECN-style routing and VPS support, alongside MT4/MT5 compatibility, traders enjoy swift fills, clear pricing, and adaptable order execution.
- GBPUSD Spread
- 0.1
- EURUSD Spread
- 0.0
- GBPEUR Spread
- 0.1
- Total Assets
- 50+
- FCA Regulated
- Platforms
- MT4, MT5, TradingView, TradeLocker
Services are provided subject to applicable laws and regulations. Certain products, services, instruments, platforms or payment methods may not be available to residents of certain jurisdictions.
Compare
Safety Comparison
Compare how safe the GBP/JPY Scalping Strategy are and what features they offer to protect traders.
| Broker | Trust Rating | FCA Regulated | Negative Balance Protection | Guaranteed Stop Loss | Segregated Accounts |
|---|---|---|---|---|---|
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4.6 | ||||
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4.6 | ||||
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4.5 | ||||
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4.6 | ||||
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4.4 | ||||
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4.5 | ||||
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4.3 |
Payments Comparison
Compare which popular payment methods the GBP/JPY Scalping Strategy support and whether they have trading accounts denominated in British Pounds (GBP).
| Broker | GBP Account | Debit Card | Credit Card | Neteller | Skrill | Apple Pay |
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Mobile Trading Comparison
How good are the GBP/JPY Scalping Strategy at mobile trading using apps or other mobile interfaces.
| Broker | Mobile Apps | iOS Rating | Android Rating | Smart Watch App |
|---|---|---|---|---|
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iOS & Android | 4.4 | 4.1 | |
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iOS & Android | 4.7 | 4.1 | |
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iOS & Android | 4.3 | 4.5 | |
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iOS & Android | 3.6 | 3.9 | |
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iOS & Android | 4.6 | 4.0 | |
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iOS & Android | 3.6 | 3.8 | |
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iOS & Android | 4.8 | 4.4 |
Beginners Comparison
Are the GBP/JPY Scalping Strategy good for beginner traders, that might want an affordable setup to get started, along with good support and educational resources?
| Broker | Demo Account | Minimum Deposit | Minimum Trade | Support Rating | Education Rating |
|---|---|---|---|---|---|
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$0 | 0.01 Lots | 4.6 | 4.0 | |
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$0 | 0.01 Lots | 4.3 | 3.8 | |
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$0 | $1 | 3.0 | 4.3 | |
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$50 | 0.01 Lots | 4.4 | 4.0 | |
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$0 | 0.01 Lots | 4.5 | 4.8 | |
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$100 | 0.01 Lots | 3.9 | 3.9 | |
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£100 | 0.01 Lots | 4.0 | 3.5 |
Advanced Trading Comparison
Do the GBP/JPY Scalping Strategy offer features that allow for more advanced trading strategies?
| Broker | Automated Trading | Pro Account | Leverage | VPS | AI | Low Latency | Extended Hours |
|---|---|---|---|---|---|---|---|
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Expert Advisors (EAs) on MetaTrader, cBots on cTrader | 1:30 (Retail - UK, EU, Australia), 1:500 (Pro), 1:200 (Offshore), 1:400 (Kenya) | |||||
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- | 1:30 | |||||
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TWS API | 1:30 | |||||
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Myfxbook AutoTrade, Expert Advisors (EAs) on MetaTrader | 1:30 | |||||
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Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime | 1:30 (Retail), 1:222 (Pro) | |||||
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Expert Advisors (EAs) on MetaTrader | 1:30 | |||||
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TradingView Bots | 1:30 |
Detailed Rating Comparison
Use this heatmap to compare our detailed ratings for all of the GBP/JPY Scalping Strategy.
| Broker | Trust | Platforms | Mobile | Assets | Fees | Accounts | Support | Research | Education |
|---|---|---|---|---|---|---|---|---|---|
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4.6 | 4.8 | 4.3 | 4.6 | 4.5 | 4.0 | 4.6 | 4.3 | 4.0 |
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4.6 | 4.0 | 4.4 | 4.6 | 3.9 | 4.0 | 4.3 | 4.1 | 3.8 |
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4.5 | 3.3 | 4.4 | 4.7 | 4.3 | 3.5 | 3.0 | 4.4 | 4.3 |
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4.6 | 4.3 | 3.8 | 4.5 | 4.4 | 4.5 | 4.4 | 4.0 | 4.0 |
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4.4 | 4.8 | 4.3 | 4.5 | 5.0 | 4.0 | 4.5 | 4.9 | 4.8 |
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4.5 | 4.6 | 3.7 | 4.0 | 4.2 | 4.0 | 3.9 | 4.8 | 3.9 |
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4.3 | 4.3 | 4.6 | 3.6 | 3.8 | 4.0 | 4.0 | 3.5 | 3.5 |
Our Take On Pepperstone
Pepperstone excels in trading with tight spreads, swift execution, and advanced charting for seasoned traders. Beginners enjoy zero minimum deposit, comprehensive educational materials, and outstanding 24/5 support, including 18-hour weekend assistance.
Tobias Robinson Reviewer
Pros
- Support for top-tier charting platforms such as MT4, MT5, TradingView, and cTrader. These tools accommodate different short-term trading methods, including algorithmic trading.
- Pepperstone offers pre-IPO perpetual futures, adding Anthropic in October 2026, enabling 24/7 speculation on expected share prices through cash-settled CFDs.
- In recent years, Pepperstone has significantly enhanced the deposit and withdrawal process. By 2025, clients can use Apple Pay and Google Pay, while 2024 saw the introduction of PIX and SPEI for customers in Brazil and Mexico.
Cons
- Overnight holding fees exceed those of some Market Maker brokers (typically Benchmark + 2.5%). Pepperstone suits traders and forex scalpers well but is less ideal for swing traders who keep positions open overnight.
- Execution might not appear as dependable in rapid markets as headline speeds imply. Our tests showed swift execution at targeted prices. However, community feedback highlights concerns over slippage, stop-loss fills, and order triggers sensitive to spreads amid volatility.
- Although the market range has expanded, crypto CFD options remain somewhat restricted, especially when compared to specialised brokers like Eightcap. Additionally, there is no facility to invest in actual cryptocurrencies.
73-89% of retail investor accounts lose money when trading CFDs
Our Take On XTB
XTB excels for novice traders with its superb xStation platform, minimal trading costs, no required deposit, and outstanding educational resources, many of which are fully integrated into the platform.
William Berg Reviewer
Pros
- In 2026, XTB expanded its asset offerings and markets. It introduced options trading in Spain and Germany, launched spot cryptocurrencies in select regions, and unveiled Investment Plans 2.0. These enhanced plans now feature more pre-built options, including sectors like Defence, a user-friendly interface, and increased flexibility to mix stocks and ETFs within individual plans.
- The xStation platform stands out with its user-friendly design and intuitive tools, such as adaptable news feeds, sentiment heatmaps, and a trader calculator. These features streamline the learning process for new traders.
- XTB offers a superb array of educational resources, such as training videos and articles, embedded within the platform to assist traders of all experience levels.
Cons
- XTB lacks a raw spread account, a feature increasingly offered by competitors such as Pepperstone. This omission might not satisfy traders seeking the most competitive spreads.
- The demo account lasts only four weeks, posing a challenge for traders wanting to fully explore the xStation platform and refine short-term strategies before investing actual money.
- XTB has stopped supporting MT4, restricting traders to its own platform, xStation. This decision may discourage experienced traders accustomed to using the MetaTrader suite.
74% of accounts lose money when trading CFDs with this provider.
Our Take On Interactive Brokers
Interactive Brokers ranks highly for seasoned traders due to its robust charting platforms, live data, and bespoke layouts via the new IBKR Desktop app. Its competitive pricing and sophisticated order choices appeal to traders, and its wide equity options are industry-leading.
Tobias Robinson Reviewer
Pros
- IBKR is a highly respected brokerage, regulated by top-tier authorities, ensuring the integrity and security of your trading account.
- Interactive Brokers has introduced a single platform linking prediction markets on Kalshi, CME Group, and ForecastEx. Users can trade yes/no contracts on political, economic, and climate events, with fixed $1 payouts. Enjoy 24/6 market access and earn interest on eligible positions.
- The TWS platform is tailored for intermediate and advanced traders, featuring over 100 order types and a dependable real-time market data feed with exceptional uptime.
Cons
- TWS has a steep learning curve, making it difficult for newcomers to navigate and grasp its features.
- IBKR offers a variety of research tools, but their inconsistent placement across trading platforms and the 'Account Management' webpage creates a confusing experience for users.
- Support can be sluggish and frustrating. Tests reveal that you may face challenges reaching customer service quickly, which could result in delays in issue resolution.
Our Take On Vantage FX
Vantage is an ideal choice for CFD traders looking for a well-regulated broker with access to the dependable MetaTrader platforms. With a swift sign-up process and a minimum deposit of $50, starting trading is simple and fast.
Tobias Robinson Reviewer
Pros
- Vantage upholds a high trust score through its solid reputation, backed by premier regulation from the FCA and ASIC.
- In 2026, the app was enhanced to provide comprehensive asset visibility, consolidating balances from Contract, Copy, and Funding accounts onto a single screen.
- Vantage has enhanced its trading tools for experienced traders, introducing AutoFibo EA to pinpoint potential market reversals.
Cons
- It's unfortunate that some clients must register with the offshore firm, which provides reduced regulatory safeguards.
- To access optimal trading conditions, a substantial deposit of $10,000 is required. This includes a commission of $1.50 per transaction per side.
- Based on tests, average execution speeds of 100ms to 250ms are slower compared to other options.
Our Take On IG
IG offers a complete package: an easy-to-use web platform, top-tier beginner education, enhanced charting via TradingView, up-to-date data, and strong trade execution for seasoned traders.
Tobias Robinson Reviewer
Pros
- IG excels with its diverse instruments, offering stocks, forex, indices, commodities, and cryptocurrencies. Additionally, it provides US-listed futures, options, and an AI Index, ensuring varied diversification opportunities.
- IG secured a crypto asset license from the FCA, enabling its return to the UK market. It now offers buying, selling, and storage services for over 55 digital tokens with fees starting at 1.49%, all under FCA regulation.
- The web-based platform supports traders at every level, offering advanced charting tools and real-time market data vital for trading. Additionally, IG now includes TradingView integration.
Cons
- Beginners may find IG's fees complicated, as they vary depending on the trades or services. This could cause confusion and unexpected costs.
- IG has ended its swap-free account, diminishing its attractiveness to Islamic traders.
- IG imposes a monthly inactivity fee of $12 to $18 after two years, discouraging occasional investors.
70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Our Take On Forex.com
FOREX.com excels in serving traders of all levels, offering more than 80 currency pairs, spreads starting at 0.0 pips, and competitive commissions. Its robust charting platforms provide over 100 technical indicators and comprehensive research tools.
Tobias Robinson Reviewer
Pros
- With more than two decades of expertise, strong regulatory governance, and numerous accolades, including a second-place finish in our 'Best Forex Broker' awards, FOREX.com is globally renowned as a reliable trading platform.
- The in-house Web Trader remains a top-tier platform for budding traders, featuring an elegant design and more than 80 technical indicators for market analysis.
- FOREX.com provides top-tier forex rates beginning at 0.0 pips, along with attractive cashback rebates up to 15% for dedicated traders.
Cons
- FOREX.com's MT4 platform provides around 600 instruments, a notable reduction compared to the more than 5,500 options on its other platforms.
- US clients are not protected against negative balances, which means you could end up owing more than your initial deposit.
- Demo accounts are typically limited to 90 days, hindering effective strategy testing.
Our Take On Eightcap
Eightcap excels for traders, offering diverse charting platforms, educational Labs, and AI tools. With over 120 crypto CFDs, it stands out in crypto trading and has won our 'Best Crypto Broker' award twice consecutively.
William Berg Reviewer
Pros
- Eightcap has excelled in all essential trading areas, surpassing all rivals to clinch our 'Best Overall Broker' award for 2024. It also earned the titles of 'Best Crypto Broker' and 'Best TradingView Broker' for 2025.
- In 2026, Eightcap integrated TradeLocker in select areas, establishing itself as the premier regulated broker for this platform. It continues to offer ultra-fast execution and competitive fees for active traders using the charting software.
- Eightcap has launched GOLD247, offering 24/7 gold/USD CFD trading with up to 1:20 leverage, 0.01-lot minimums and zero commission for weekend gold traders.
Cons
- Despite the growing range of tools available, Eightcap lacks popular industry resources such as Autochartist and Trading Central. These provide advanced charting analytics, live news, and essential market insights for traders focused on short-term strategies.
- Eightcap must enhance its range of over 800 instruments to rival top competitors like Blackbull Markets, which offers 26,000+ assets, especially improving its limited commodities selection.
- The demo account is available for 30 days, after which it requires a request for extension. This is less convenient than XM's offering, which provides an unlimited demo mode.
71.28% of retail traders lose money when trading CFDs
Indicators
The indicators used for this strategy are as follows:
a) The pivot point calculator.
b) MACD – using the default settings.
c) The Laguerre custom indicator, which is actually two indicators in one. Laguerre 1 is used to determine trade entry points. Indicator settings are: Gamma – 0.60; levels – 0.15, 0.85, 0.45; bars – 9500; colour – blue. Laguerre 2 (used for trade exit determination) is set as follows: Gamma – 0.80; levels – 0.15, 0.85, 0.45; bars – 9500; colour – red. Enable Fixed maximum (~1.05) and fixed minimum (~-0.05) in the Common tab under settings before attaching this indicator to the charts. The Laguerre indicators function to detect oversold/overbought areas of the market.
d) StochHistogram – A modification of the original Stochastics oscillator to obtain a histogram. Default settings of 14,3,3 are used. The histogram is colour-coded, with a green coloured histogram signifying an uptrend and a red-coloured histogram indicating a downtrend.
e) Bollinger bands – used with default settings.
f) Exponential moving averages set at 200 day (Red) and 60day (Blue) levels to find support and resistance.
NB: Personal tests of this strategy has shown that it can also be used on other Yen crosses, but the GBPJPY gives the highest profit ratio as a result of its wide intraday price range. The USDJPY gives the lowest profits with this strategy.
Looking at this chart above which shows one long entry and two short entry setups, we can clearly see the following:
The MACD has to cross from positive to negative (short signal) and from negative to positive (long signal).
At the same time, the Stochastics Histogram must also cross from positive to negative (short signal) or from negative to positive (long signal), and both moves are indicated by the respective colour changes.
The Laguerre 1 and 2 must be trending upwards and must perform a cross at or below the 0.15 level, which represents an oversold region for a buy signal. For a sell signal, the Laguerre 1 and 2 must be trending downwards, and must cross at or above the 0.85 point, which represents an overbought region.
These parameters are not used in isolation. The relationship of the currency pair to the lines of the Bollinger band, as well as the positioning of market price relative to the pivot points must be considered. For a long signal, the market price must not only be above the daily pivot point, but must also cut, or has at least touched the lower Bollinger band. For a short signal, the market price must be below the daily pivot and the price action candle of the currency pair must also have touched or cut across the upper Bollinger band.
All these parameters must align together for the strategy to work. Given that the chart used for analysis and entry is the 5 minute chart, the trader can actually use this strategy to make money from the market several times in a trading day. Since there are always opportunities with this type of trade, the trader should not be tempted to force the market but should rather, be patient to ensure that every single parameter is met.
Strategy Modification
The Laguerre 1 and 2 indicators mimic the activity of the Stochastics oscillator in predicting overbought and oversold conditions. If the trader is unable to get access to the Laguerre1/2 indicators, he can substitute them with the Stochastics oscillator, and use points 25 and 75 as the borders for oversold and overbought market conditions respectively.
Here is another example below:
Long Trade Exits
The following can be used as rules for long trade exits:
a) Both Laguerre indicators crossing at or above 0.85 (currency asset is overbought).
b) Price action approaches any of the resistance levels as defined by the autopivot calculator.
c) MACD indicator crosses from positive to negative, indicating a change in the trend.
d) Stochastics Histogram crosses from positive to negative, changes colour from green to red, again indicating a change in trend.
Long Trade Exits
The following can be used as rules for long trade exits:
a) Both Laguerre indicators crossing at or above 0.15 (currency asset is oversold).
b) Price action approaches any of the support levels of S1, S2 or S3.
c) MACD indicator crosses from negative to positive, indicating a change in the trend.
d) Stochastics Histogram crosses from negative to positive or changes colour from red to green.
Used properly, you never have to fear trading the GBPJPY again.