A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

Tuesday 13th October 2015 - Pre Opens

Good Morning Guys

No major Bank Holidays and at least a couple of red new releases this morning so hopefully we will have a normal trading day

Today I will explain a few more points that do assist me but first the normal stuff and sorting out the LiTs areas for a start so that we can at least get a picture of what might happen over the morning sessions etc

I welcome all FX related input - and of course other charts and predictions / calls etc as well as any questions . If I cannot answer them right away I will get around to them within a hour or so - as there are always slack times or periods I take a break for a cup of tea and the odd bacon sarnie etc

For new followers and I have had 3 this last week - please just put in a friends request and then I can allow you on to the thread to comment etc etc

I must stress I do need to know a bit about your trading history etc - ideally you need at least 12 -18 months of FX trading behind you - so that you know the basics etc and also maybe have traded a live account using a few different methods. Ideally you have a couple of years of not really progressing - or even 5 years plus - i dont mind as long as you realise it will still take another 4 to 8 months to complete fully learn and be competent with my method etc

Have a good day


Regards

F

 

[Forexmospherian]

Before I post the LiTs areas - I mentioned yesterday that the first FX pair I look at scalping every morning is now the EA and this mornings its not let me down from a KT at 6 09 am and a scalp buy

5 54 am had been a scalp sell - but had not been ready for that one but 6 09/ 10 am all lined up nicely and within 20 mins its up approx 19 pips and still not finished in this TW

The EU meanwhile as only managed 7 pips in the same time ;-)

 

[Forexmospherian]

6 44 am

LiTs areas for the AM session


EU - 1342 - 1361

Gu - 5340 - 5372

UJ - 119 92 - 120 11

UChf - 9618 - 9640

UCad - 2985 - 3027

AU - 7350 - 7385

EJ - 135 97 - 136 33

EA - 5435 - 5460

 

[Forexmospherian]

6 47 AM

EU

For now any pullbacks staying above 1359/ 60 are scalp buys again

Expect play at the EO and maybe at 8 00 am for the London Open and also there is red German news at 10 00 am - 30 mins after red UK Pound news - so it could be a busy period around then

 

[Forexmospherian]

AU and EA

6 54 am

I mentioned yesterday about many looking at buying the AU and selling off the EA - based on the longer frame charts

Well last night - helped by news - the AU dropped over 80 pips from its high and the EA moved up 160 pips from it low area of yesterday

OK - that could all change again today but that another example of why you leave partials on with stops in profits and you move then to take more profit if you can - because the markets love ruining swing traders hopes etc

 

[Forexmospherian]

7 00 am

GU

Another pair thats dropped 75 pips or so from its highs of yesterday

Bounces trying up to 5340 / 50 area can be looked at for more sells according to the price structure - BUT - we do have 9 30 am red Pound news - so all could change again around then

Its been a scalp buy since 6 33 am and 6 51 am but close to interim R's - both at 5330 and 5340ish

We are just seeing first pullback and scalp sell at 7 00 am now

 

[Forexmospherian]

7 00 am

GU

Another pair thats dropped 75 pips or so from its highs of yesterday

Bounces trying up to 5340 / 50 area can be looked at for more sells according to the price structure - BUT - we do have 9 30 am red Pound news - so all could change again around then

Its been a scalp buy since 6 33 am and 6 51 am but close to interim R's - both at 5330 and 5340ish

We are just seeing first pullback and scalp sell at 7 00 am now

7 03 am

Just been taken out of scalp sell with a 6 pips loss after a big spike up at 7 02 am

That was my own fault as really it was too early to scalp sell at not even at 5330 - and I pay for it

Rise still going and above 40 so jumped in now on scalp buy

Am I too late ?

 

[Forexmospherian]

GU

7 06 AM

What a bull rally

soon got my minus 6 pips back and now up 16 pips and taking 70% off GU scalp buy

 

[Forexmospherian]

6 47 AM

EU

For now any pullbacks staying above 1359/ 60 are scalp buys again

Expect play at the EO and maybe at 8 00 am for the London Open and also there is red German news at 10 00 am - 30 mins after red UK Pound news - so it could be a busy period around then

EU

7 09 am

Not done to bad off my EU scalp buys

Now made 1387 so exited 70% stake and will stay with 30% above 72

 

[Forexmospherian]

EU

7 09 am

Not done to bad off my EU scalp buys

Now made 1387 so exited 70% stake and will stay with 30% above 72

I must point out that this latest 30% stake on buy is a second one as left an earlier one on from a buy earlier on at 6 09 am ish

That close as well but again at least with a couple of pips profit in it.

 

[liver1234]

Could you explain the timerule fx please.

 

[Forexmospherian]

EA

7 20 AM

Got it in a range from 5570 to 5515 - OK 55 pips - but this pair is a big mover and as dropped 30 pips since 7 00 am

Above 5570 + more scalp buys and under 5520 and 15 - stay with the sells.

In between 5527/ 30 is support and so this can be used as a scalp LiTS AREA - IE above both favours scap buys and below both price favours lower again

 

[Forexmospherian]

I am out again this morning at 7 50 am so will miss the LO

Back after 8 30am - but should be around for the 9 30 and 10 am news releases

 

[Forexmospherian]

EU

7 26 AM

Markets taken me out one 30% stake buy - but it was in a profit anyway

The EU is above its LiTs and bullish still - but the pullbacks are just taking bulls out for now

Its a clear scalp sell after 7 09 am - but I hope to scalp buy again in this TW or at least before 1352

 

[FXWorx]

Morning F

 

[Forexmospherian]

EA

7 20 AM

Got it in a range from 5570 to 5515 - OK 55 pips - but this pair is a big mover and as dropped 30 pips since 7 00 am

Above 5570 + more scalp buys and under 5520 and 15 - stay with the sells.

In between 5527/ 30 is support and so this can be used as a scalp LiTS AREA - IE above both favours scap buys and below both price favours lower again

EA

7 38 am

That 3 pip scalp LiTs area gave a 10 pip bounce - then once under 27 and 7 29 am it was another scalp sell down to 5515

Its still in down bias from 7 00 am - but also still in a LiTs area and so we just look for next supports at the 5480 - 5500 area as possible buy areas again

 

[Forexmospherian]

Could you explain the timerule fx please.

Morning guys

Yes will do again Liver - out in 10 mins - but will do it this morning after I get back and maybe after 2 news releases

Have a good day

REgards


F

 

[Forexmospherian]

GU

7 43 AM

Before I pop out just update on GU prior to LO and news at 9 30 am which I will be about for


I have left 30% stake on a buy and have moved it up to 5347

Its is in a bullish bias but 5375 all the way up to 5400 is all R area - so might be difficult to crack prior to news - but then you never know - it might be pushed up to 5410 and then sold off after 9 30 am ??

GL and see you later guys and wtach out for any spikes at 8 00 - 8 03 am off opens

 

[liver1234]

Thankyou

 

[Forexmospherian]

8 32 am

Back now for at least 90 + mins - with just a tea and egg and bacon sarnie break in between

Missed out big time on the EA rise of 50+ pips whilst I have been out

Been OK with EU and GU still - but shame the GU as pulled back from a 5388 high after 8 09 am and so missed that scalp sell

EJ also been bullish after 8 00 am again - so sod's law trip to railway station was costly - thank goodness its not always the same time every day.

Will explain the time rules before the news releases next hr as well