A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

Nice Chart

EJ gave many clues before the drop.

Agree FXW

In fact even at 10 20 am we had clues it was topping with a LR cross

After 10 30 am and 10 51am - it was playing safe for a 40 pip fall - supported by falls on other euro crosses as well

My lastest EJ scalp buy was 12 26 am - in the TW but not a KT but it was from a HL and with the time rules on its side from low around midday

 

[FXWorx]

F Any way to get the T2W page to auto refresh?

 

[Forexmospherian]

12 38 pm

EJ

136 50 to 136 80 now is maybe a BTTZ tease zone

30 pips but maybe set up to to try and catch us out now

 

[Forexmospherian]

F Any way to get the T2W page to auto refresh?

I have tried but really had no luck - so yes I generally try and refresh every 30 secs if not posting - but still miss the odd comments - like this morning from NVP and Nick

Never asked anyone else if there is a better way to refresh actually - got so used to just doing it

 

[Forexmospherian]

1 06 PM

AU

A new daily high so far of 7377

EA

A new daily low of 5421/2

 

[Forexmospherian]

9 02 am

On my set ups the key change time this morning at London Open was after 8 09 am

Both EU and EJ started turns ups and the GU just carried on up another 15 pips but we had both the GU and AU as buys from early on

UChf - topped in between 7 21 am and 7 30 am but after LO and 8 09 am started a larger pullback down

Still got the AU bullish on pullbacks staying above 7342 area

GU

1 24 PM

There as been 3 pairs over last 7 hrs that have remained consistent in main direction

We have mentioned the AU as a buy and EA as a sell - but the other pair we had buys on from after the Opens as been the GU

Its just made another new high for the day at 5373 - ok only approx 45 pips up from pre Opens - but sometimes you just want consistent partial stake swing winners - so only having to scalp them once or twice - rather than four or 5 + times when they make moves over 25 pips in both directions

Most GU pullbacks are under 12 pips - a few slightly more - but the bias is still bullish for now

 

[Forexmospherian]

1 06 PM

AU

A new daily high so far of 7377

EA

A new daily low of 5421/2

2 06 PM

Approx 1 hr later - AU high not made over 7377 - and so time rules favoured sells after 35 and 50 mins

EA -Teased down another 5 pips before a scalp buy after 1 51 pm

Main bias on EA is still bear so under 5410 and 05 I would scalp sell more

Similar on AU - main bias still bull session for now- need above 7383 and 86 to take more scalp buys

 

[Forexmospherian]

GU

2 09PM

Need over 5381 and 86 to take more scalp buys

Still bull bias atm - but cannot make over 5375/ 80 R for now

 

[Forexmospherian]

EU

2 11 PM

Need under 1357 and 50 to stay with scalp sells for a larger fall

Above 1360 still in a bullish bias - but will be no good if we cannot make over 1385

Stuck in a range for now - and US and Cad on a Bank Holiday this afternoon

Maybe after 2 30 or 3 00 pm we might see more action - but very slow atm

 

[Forexmospherian]

2 06 PM

Approx 1 hr later - AU high not made over 7377 - and so time rules favoured sells after 35 and 50 mins

EA -Teased down another 5 pips before a scalp buy after 1 51 pm

Main bias on EA is still bear so under 5410 and 05 I would scalp sell more

Similar on AU - main bias still bull session for now- need above 7383 and 86 to take more scalp buys

EA

Even in a slow period - the EA scalp buy after 1 51 pm made 30 pips and above 5426 is still in a bullish mode - plus the fact time rules kick in next 5+ mins

Need under 22 - 14 - 10 and 5 to stay with any scalp sell on EA for now - otherwise see if the supports hold at 15 to 22

 

[Forexmospherian]

EA

Even in a slow period - the EA scalp buy after 1 51 pm made 30 pips and above 5426 is still in a bullish mode - plus the fact time rules kick in next 5+ mins

Need under 22 - 14 - 10 and 5 to stay with any scalp sell on EA for now - otherwise see if the supports hold at 15 to 22

EA

2 39 pm

stayed above supports made after 1 51 pm buy and from 2 28 pm it was another scalp buy from 5426

We need bove 52 and 57 to stay and hold buys on longer now

 

[Forexmospherian]

2 40 PM

All 3 euro crosses are trying to turn up again atm - but unless we make over the interim R areas then it will not work

 

[Forexmospherian]

EA

2 39 pm

stayed above supports made after 1 51 pm buy and from 2 28 pm it was another scalp buy from 5426

We need above 52 and 57 to stay and hold buys on longer now

#

So far we have only made 55/56 and stalled

The other euro crosses also failing to make over their first interim R areas and after 2 40 pm they became sells for now

 

[Forexmospherian]

With the AU still in a pullback from its high - thats allowing the EA to move differently to the EJ and EU as EJ and EU in sync more with the AU fall - showing a stronger US dollar bias

 

[Forexmospherian]

3 26 pm

I have stayed with the EA last 40 mins

From 5426 scalp buy - we made 5474 and then after 3 00 pm we had a scalp sell from 70 that's made 53 so far

From 2 30 pm -approx 55 mins ago I have made 3 EA scalps - total pips 57 pips of single entries and 72 pips including partial - and thats with the US off on a Bank Holiday and not counting this morning's tally

Conclusion - not too bad a Monday after all

Back next for 4 00 pm

 

[NickBk]

Nick may I ask what your settings are for your 4 lower period LRs ?

LOL

I been busy and out. LOL because I don't know and only entered whatever F told me a few months back, so better ask him.
My charts look the same, although I might say my taste in colours is a bit better and the 3 fast lr's thinner so that I can see the price :cheesy:

 

[NickBk]

3 26 pm

I have stayed with the EA last 40 mins

From 5426 scalp buy - we made 5474 and then after 3 00 pm we had a scalp sell from 70 that's made 53 so far

From 2 30 pm -approx 55 mins ago I have made 3 EA scalps - total pips 57 pips of single entries and 72 pips including partial - and thats with the US off on a Bank Holiday and not counting this morning's tally

Conclusion - not too bad a Monday after all

Back next for 4 00 pm

Had a few lots of that, sold mostly very close to the top too -)

 

[Forexmospherian]

LiTs Update

6 37 am

LiTs areas for Monday Am session

EU - 1345 - 1365

GU - 5305 - 5325

UJ - 120 20 - 120 35

UChf - 9597 - 9622

Ucad - 2935 - 2965

AU - 7303 - 7339

EJ - 136 45 - 136 78

EA - 5460 - 5540 ( Big LiTs - in a large range for now )

I posted the LiTs areas for bias on scalp /swing trades approx over 9 hrs ago

Its not even London close yet - but because the US are off this afternoon then lets do an early update on if the LiTs as been good again today

EU - above its Lits most of morning - but only 30 pips

GU - better above its Lits for over 7 hrs - but again only 45 + pips

UJ - Below Lits all day - but only approx 30 pips so far

UChf - stayed in its LiTs area - so nothing

UCad - Both sides - but only 20 pip

AU - Above all day - 40+ pips

EJ - both sides - but only 20 pips

EA - Mainly all below - but a big LiTs area and only 40 pips so far

Ok add them all up

225 pips - then half it as I dont expect followers not scalping to get near highs and low - but still 112 pips on a boring US Bank holiday Monday

The trick is getting stops in at least 2 or 3 pips of profit and always try and not lose more than 50% off a good move over 50+ pips.

Scalp wise the EA as dropped over 110 pips today -- but only approx 40 pips below its large LiTs area even though the longer LRs had you selling before the Opens

By mixing both scalping and LiTs "wrapping" or swing trades then if you cannot make positive pips over a 4 -6 hr intraday session - then something must be really wrong.

But dont worry over this last 2 years I have had approx 43 days when I have not made my 50 pip daily target - and thats out of approx 410 trading days.

Will pop back later on and be trading again from 6 00 am tomorrow morning

All the best

F

 

[Forexmospherian]

Had a few lots of that, sold mostly very close to the top too -)

Well Done Nick

A boring Monday making money - what could be better - lol

Regards

F

 

[NVP]

hey all ..............ive been tied up today and will be all this week now

heres my take on the usd today from my earlier call............I use a lot of S/R levels and look for the moves off key levels at key times ....

actually the green usd has been tricky on this bank holiday day in some countries .........hopefully better runs tomorrow

and for all you FXcorrelator fans heres the G5 action.......5 indexes overlaid.....a brief review shows me the GU was a real nice player today with some great moves .............hope you got some ?

N