A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

8 50 am

Hi guys back now for approx 1 hr and for Pound news at 9 30 am

Sorry did not see Sun and N's comments before I left

Will say 7 51 am and 8 09 am was a nice pullback off EU - Not here to take them but 30 pips nearly there and as Sun mentioned UCad a lovely bull move above its Lits - also UJ carried on up

With regards to EA - just like EU after 7 51 am and 8 09 am - nice fall - approx 60 pips there for you guys to make off you scalp sells

First time I have missed the LO for over a week or so - costly for me - but still not bothered - I will get my pips over the next 7 hrs plus still ;-)

 

[Forexmospherian]

I will explain more about my Lines in the Sand Sun

With us having UK POund news in just over 30 mins - I will do the LiTs on the GA and GJ next

I will then explain how i calculate them etc

 

[Forexmospherian]

The scalp LiTs on the EU atm is 1030 -34

Above both more scalp buys

Below both now favours scalp sells

Then we need to look at interim S & R areas

We know the EU as R's around 1070 and now 1050#

It also as supports now at 1017 - approx 1000/1005 and then 0990 ish

So for now range on sells from under 1030 down to 0990 ish

For buys really we need back over 1035 and 50 and 70 to break out higher

 

[Forexmospherian]

GU

9 03 am

With us having red Pound news at 9 30 am - I will focus on the Pound crosses next

the GU is slightly bullish atm - even though we have dollar strength after 7 51 am and 8 00 am

Our GU range is from 5450/ 60 - above both prices then bullish down to 5415 and 5400 - under both - back bearish

Will get the GA and GJ LiTs next as not on normal list

 

[Forexmospherian]

GJ LiTs is 185 55 to 186 10 and for now its bullish

GA LiTs is 1650 down to 1580 - its in its LiTs atm - so fairly neutral

 

[Forexmospherian]

Both GU and GJ have been great scalp buys after 8 21 and 8 39 / 8 51 am onwards

 

[Forexmospherian]

Now we have to work out is this a pre news set up - ie moves last hr false ??

 

[Forexmospherian]

With red Pound news in approx 15 mins - will explain for Sun about the LiTs area more

I get it from my 3 longest LRs - you can start using then this week.

The longest setting - anything from 450 to 550 depending on your broker platform is giving me a general session bias. Its flat for ranges and then if under price - it favours more bull moves and over price favours a bear bias##

Along with the other 2 Lrs - I look for crosses - exactly like on the 3 scalp quick LRs - bur instead of the longer ones giving me scalp moves - they give me the session bias for next few hrs or for longer if the set up is all bullish or all bearish

 

[Forexmospherian]

9 26 am

News in less than 4 mins

will be trying to scalp GU and GJ - might be 3 mins after news or 9 mins after

Both have R areas within 10 -20 pips of were they are currently

Both been bullish am - but that can all change for news

Let See

 

[Forexmospherian]

9 30 am

Pound - very bullish for now

 

[Forexmospherian]

GU up 40 pips more for news

GJ and GA up both over 50 pips

Not caught any moves on scalps - but had GU on a 30% partial with stop in profit at 5443

 

[Forexmospherian]

With me being out over the London Open - I have missed out on proper pre planning - shame - but then cannot always get everything right

If I had managed to get scalps in after say 8 30 am on all 3 then just left partials on with stops in different profits - ie 1 just say 2 pip - 1 say 10 pips of profit and another is even 20+ pips of profit

then all 3 would have worked as no spikes and that would have made another 100+ pips off all 3 Pound crosses

Shame - but I certainly should never complain - after all above my daily target for the day anyway

 

[Forexmospherian]

GU

9 46 am

Ideally needs to stay above 5460/ 65 now to stay with bull trend from earlier on and news

It could drop down to 50 and still be oK to scalp buy again

its only under 5420 and 5400 we go into a bearish structure

I am out Dog walking at 10 00 am

Should be back later and then around Lunchtime and a couple of hrs for US session

See you later guys

PS - EU - Stayed under its scalp LiT of 1030 -34 - mentioned over 45 mins ago and dropped over 20+ pips so far - another nice scalp sell there

 

[sun11]

With red Pound news in approx 15 mins - will explain for Sun about the LiTs area more

I get it from my 3 longest LRs - you can start using then this week.

The longest setting - anything from 450 to 550 depending on your broker platform is giving me a general session bias. Its flat for ranges and then if under price - it favours more bull moves and over price favours a bear bias##

Along with the other 2 Lrs - I look for crosses - exactly like on the 3 scalp quick LRs - bur instead of the longer ones giving me scalp moves - they give me the session bias for next few hrs or for longer if the set up is all bullish or all bearish

Thank you for the info.
I set up my chart with 475 LR & in chart on EU i marked your LiTS area,

EU - 0994 - 1020

Looks like it matched little. Looking for your view.


Reply at your pace....when you are back with basil...

 

[Forexmospherian]

Thank you for the info.
I set up my chart with 475 LR & in chart on EU i marked your LiTS area,

Looks like it matched little. Looking for your view.
View attachment 204400

Reply at your pace....when you are back with basil...

Back now for 20 mins

EU Sun

For now we still have from Friday evening a HL ( ie 1000 against 0988/90 ) and a HH at 1049/ 50 against 1038/40

So that according to PA is bullish

BUT

This is the unknown - that 1030 -34 scalp LiTs - as mentioned 2 hrs ago

Above 0990 and 1000 and 1020 still bullish - BUT - unless it breaches over 1035 and then over 1050 - we could see a LH and then a test back to 1000 and 0990.

Thats the structure worked out for now

GL

 

[Forexmospherian]

I will post some charts later on over lunchtime

UCad seems to have been a nice buy so far - ( no was not scalping it) but I hope a pair for Sun and many others ( I know NVP likes it as well )

For stage 4 Sun - I will check all your LR settings (anything from 9 to 11 to suit you and your platform ) and then explain more about the time rules on interim highs and lows and later on this week or next week about leaving partial stakes on with stops in profit - ie perfect ones for this morning were UCad and also Pound crosses pre news

Back after next hr sometime

 

[NVP]

hey all

popped in....T2win site seems sluggish ??

anyway only GBP has been impressive today so far ........after a weak Asian it stormed north ......some 70 pips from GBP from days low to high ..that's before the tailwind of a second currency in pair trades ......

CAd got bear earlier .......lost some 40 pips at one point from days opens

if I had the time to play at this moment I would stay on the GBP .......its come off some 20-30 pips from its high and must be hunting a retrace now ........perhaps use the USD as the foil (but see final comments) ..........or even the Euro that is slowly winding south now after from some promising early form

usd has breached earlier hights for day ....I was playing it bull anyway this morning ...so not perfect for going GU buys unless it changes tack as GBP signals north ..........Easily credible

later
N

 

[NVP]

GU is the buy for me if I was waiting .......

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1704.html#post2650292

 

[Forexmospherian]

GU is the buy for me if I was waiting .......

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1704.html#post2650292

Hi N

I can see what you mean as a scalp buy from 5458 /59 - but it might struggle from 67 to 75 as all dynamic R.

Agree Pound as been the bull pair this morning - and pre 9 30 am news - but then assisted after the release. GU price rose over 60 pips after opens - but GA and GJ both made over 100 pips each on their rises - pity I hardy got any off that as only had partials on the GU.

I can see we both might confuse some followers - as I said - UCad is bullish - which it was - and you say the Cad was bearish - which of course it was - as thats why with a bit of dollar strength and Cad weakness why the UCad rose over 35 pips from opens

When you do have some time - must get you looking more at the EA / GA and also GJ /EJ - as they seem to be now my preferences over the EU and UJ / UCad / UJ etc

Regards


F

 

[Forexmospherian]

Hi N

I can see what you mean as a scalp buy from 5458 /59 - but it might struggle from 67 to 75 as all dynamic R.

Agree Pound as been the bull pair this morning - and pre 9 30 am news - but then assisted after the release. GU price rose over 60 pips after opens - but GA and GJ both made over 100 pips each on their rises - pity I hardy got any off that as only had partials on the GU.

I can see we both might confuse some followers - as I said - UCad is bullish - which it was - and you say the Cad was bearish - which of course it was - as thats why with a bit of dollar strength and Cad weakness why the UCad rose over 35 pips from opens

When you do have some time - must get you looking more at the EA / GA and also GJ /EJ - as they seem to be now my preferences over the EU and UJ / UCad / UJ etc

Regards


F

GU

12 58 pm

Now made 5474/5 - surprised me - I though it would struggle a bit earlier

WD N - a nice scalp buy called well in advance