A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

6 43 am

More LiTs area for Wednesday AM session


AU - 7195 - 7242

EA - 5720 - 5785

EJ - 136 15 - 136 45

GJ - 182 25 - 182 85

GA - 1085 - 1155

 

[Forexmospherian]

First scalps on EU this morning

EU

6 50 am

OK - you all know the 2 TW's and the 6 KTs for every hour

So I looked for a EU scalps around 6 21 am - 6 30 am 6 39 am - 6 51 am - 7 00 am - 7 09 am

I came across my first one this morning - Its was a scalp sell and this is the chart showing what I saw and why i entered it and the exact time

When other non followers say - why are you not calling every scalp in advance - well if they actually set up a 1 min chart - they would see what I am many of you are doing then in real time

Placing the scalp on with your broker comes first - I will do everyday some calls either a few mins in advance of the move or as I enter - but last thing I want is just to become a free trade call service to all and sundry etc etc - thats just not the idea of the thread

Heres the chart - with some explanations to follow

 

[Forexmospherian]

7 00 AM

Normal spikey movement at the EO

 

[Forexmospherian]

EU

7 05 am

On the chart above - notice the best entries are not always exactly on a KT. Some are - some are within a few mins - but the Key depends on many factors - not just time - but levels along with PA - and the 2 quick LRs are ideal when the cross over

The structure of the EU is bullish atm and price is above its LiTs area

However - we need to breach through the R area from 1398 to 1411

At 6 49 am - we tried with a scalp buy - but at 7 00 am open - it failed and fell again

Price needs to stay above 1385 for now to remain scalp bull bias as under 85 and 80 i would be holding scalp sells and maybe taking new ones

 

[Forexmospherian]

EA - 2 Scalps and daily Target made

EA

7 21 am

I have posted a EU chart and even 4 scalps would not make over 20 pips so far - although we are still trying up atm

The EA is different

I mentioned earlier the scalp buy after 6 00 am

Well at 6 25 am when the EU became a scalp sell - so did the EA

If you did not catch it exactly at its top - then dont worry - after 6 30 am it still kept falling - as shown on the chart

Just 2 good scalps on the EA - all within 70 mins and you have approx 80 pips - well over my 50 pip daily target

7 21 am was a scalp buy - but not in it - just exited my sells and in a EU one for now

EA Chart with 2 main scalps this morning

 

[Forexmospherian]

7 26 am

Out in 10 mins - so will miss the LO

Back by 8 15 am I hope

Be careful at exactly the hr change and dont forget to check the GU and also pound crosses ready for UK Pound news at 9 30 am

See you later

 

[Forexmospherian]

EU - Update at 8 15 am

EU

6 50 am

OK - you all know the 2 TW's and the 6 KTs for every hour

So I looked for a EU scalps around 6 21 am - 6 30 am 6 39 am - 6 51 am - 7 00 am - 7 09 am

I came across my first one this morning - Its was a scalp sell and this is the chart showing what I saw and why i entered it and the exact time

When other non followers say - why are you not calling every scalp in advance - well if they actually set up a 1 min chart - they would see what I am many of you are doing then in real time

Placing the scalp on with your broker comes first - I will do everyday some calls either a few mins in advance of the move or as I enter - but last thing I want is just to become a free trade call service to all and sundry etc etc - thats just not the idea of the thread

Heres the chart - with some explanations to follow

EU

8 16 AM

Chart update

You could add 2 more buys since pre Open at 6 49 am scalp buy

High so far 1419


Pullbacks staying above 1403/4 are buys again for now - but keep an eye on time rule on latest high

 

[Forexmospherian]

EU

8 19 AM

I had the LiTs on the EU at 1342 to 1361 ish this morning - so really its been a buy well before the Opens - but its how you manage the pullbacks - as you dont want to enter any new buy if its going to pullback say 12 or 17 pips - that's why you need to learn to scalp rather than having to have 25 - 35+ pip stops

 

[Forexmospherian]

EU

8 44 AM

1427 so far

1410 /11 now is the next clue

We need to stay above there to look at another buy in next TW

Under 1409 -then we might be temporary topping for now

 

[Forexmospherian]

Pound Crosses for 9 30 am red news

8 55 am

Another pair firmly above its LiTs area this morning as been the GU

Its been buys from above 5250+ and from 75+ after LO and 8 21 and 8 30 am

Price now around 5300 after making 5325 at guess what time - 8 39 am a key Time

I did not get a sell at 8 39 or 8 40 am - missed it but the clues were there - its just that there is so much to choose from

I will do a quick update on the GJ and GA as well for news

The GA is very similar to the EA - a big mover - and the GJ is like the EJ - but even a bigger mover

I very much doubt I will manage to scalp all 3 after the 9 30 am news - but there again it all depends on the direction and whether I can keep partials on - with stops in profit - then no addition risk exposure

The GJ is like the GU and bullish - but the GA is the odd one out and like the EA bearish due to stronger Aussie dollar - yes the AU as been bullish from the opens

More to follow ready for 9 30 am

 

[Forexmospherian]

just noticed we had a few highs stop at 8 39 am - interesting

 

[Forexmospherian]

9 08 am

GU and GJ still very bullish pre news

EU - not able to stay above 1410 and now high at 1427 as also gone over 30 + mins with no breach

 

[FXWorx]

EU Short

Hi F

Thank you for all the clues so far. Here is a EU Short.

 

[Forexmospherian]

EU

8 44 AM

1427 so far

1410 /11 now is the next clue

We need to stay above there to look at another buy in next TW

Under 1409 -then we might be temporary topping for now

EU

9 13 am

Now the test next is 1385 to 1400 support area

Although the LiTs was above 1361 ish early morning - if we fall under 1385 we are starting to turn bearish for the rest of the AM session

For now I would expect to stay above it and be able to buy again - but really thats fortune telling - ie trying to predict to far in advance of next hr - which is not my method

 

[Forexmospherian]

EA

9 15 am

Its fallen over 140 pips from its high pre Opens

Supports next from 5630 to 5650 area

 

[Forexmospherian]

With approx 10 mins or so to news I notice on the GU we have a lot of Rs from 5340 to 60 area to breach if we carry on up

Is this Pound move up just a pre news stunt / set up ??

Structure above 5250 is all bullish - so to change structure we need over a 80 + pip fall

 

[Forexmospherian]

9 30

Pound news

both GU and GJ had been retracing prior to news and drop another 20 + pips on release

 

[Forexmospherian]

GA

9 32 am

Also falls more with weak Pound news - interesting EA not falling any more atm

 

[Forexmospherian]

The news was better than thought - but the market must have factored it in earlier - typical ;-)

 

[Forexmospherian]

9 35 am

Pullbacks on GU need to stay below 5315 to sell again