A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

After 9 am we need to look at Pound pairs for 9 30 am news

 

[Forexmospherian]

i will post some charts after we have been through the moves etc etc

 

[Forexmospherian]

I know its Keen I need to help the most - so please K - fire away with your scalp questions etc etc

 

[Forexmospherian]

Would you have been able to make profit on say EU with a buy at 8 21 am and a sell at cross at 8 32/3 am ??

2 trades - should make say 5 pips easy on way up - and so far 4 pips on way down ?

 

[keen246]

First question

Any of you buying after 8 21 am ??

No didn't. The downtrend was too strong and didn't see anything on the left to act as possible support.
Sold @ 8:32 on the pullback, but just got +3 pips as now sort of reversing.

 

[Forexmospherian]

From 8 21 am - EA up 19 pips gross and 17 pips after cost so far

 

[Forexmospherian]

No didn't. The downtrend was too strong and didn't see anything on the left to act as possible support.
Sold @ 8:32 on the pullback, but just got +3 pips as now sort of reversing.

Thats good to hear

See you have to have confidence on the 2 quick LR crosses with time in a Time window

The EA was classic - from 8 21 am up nearly 30 pips on rise

Please throw away all you old trade beliefs

 

[Forexmospherian]

No didn't. The downtrend was too strong and didn't see anything on the left to act as possible support.
Sold @ 8:32 on the pullback, but just got +3 pips as now sort of reversing.

Thats good to hear

See you have to have confidence on the 2 quick LR crosses with time in a Time window

The EA was classic - from 8 21 am up nearly 30 pips on rise

Please throw away all you old trade beliefs as Tip 1

 

[Forexmospherian]

sorry guys - the forum must be busy this morning - its taking me over 1 min to get some posts on

 

[Forexmospherian]

EU

stick a down trend line on now from say 0934/5 area going through 28/29 and extrapolate

under TL is still a sell for now - but supports wil play the next roll

 

[Forexmospherian]

AU

just spotted that pair after 8 30 am

sorry missed it totally - did any of you catch it ?

 

[sun11]

AU

just spotted that pair after 8 30 am

sorry missed it totally - did any of you catch it ?

Yes i did...

 

[Forexmospherian]

EU - EJ and EA

EU is now out of sync with other 2

That shows Dollar strength - but as we can see the EA made a lovely turn up - and that was due to AU weakness

Correlations of pairs are important

EA and AU are fairly obvious - got the EA - but totally missed AU fall - and I should have not missed that - sorry

 

[Forexmospherian]

Yes i did...

Excellent Sun

AU and EA are nice oppositely correlated pairs

You will know now in future - any nice moves on AU - then EA should be doing opposite

 

[Forexmospherian]

i will cover pair correlations in more detail

In old days - ie 5 -10 yrs back EU and GU always correlated 90% of time

Nowadays not so - but EU is normally opposite to UChf

 

[Forexmospherian]

Talking of GU - its not stayed above 5420 again

news in 30 mins as well - so we need to see if any pre news set up after 9 00 am

 

[Forexmospherian]

8 55 am was a bounce scalp on EU

for me under 28 and then 35 still in down bias

 

[Forexmospherian]

9 00 am

EU

low so far 0917

bounce at 18 - but cannot make over 26 for now

under 0928 and 35 still in down bias for now

 

[Forexmospherian]

EA

Ok - thanks Nick for getting me back on this pair

since 8 21 am scalp buy onwards - in 45 mins it made 53 pips

5200 to 5215 is all R next

 

[Forexmospherian]

8 55 am was a bounce scalp on EU

for me under 28 and then 35 still in down bias

9 00 am

EU

low so far 0917

bounce at 18 - but cannot make over 26 for now

under 0928 and 35 still in down bias for now

EU

9 05 am

so over 28 now - will it stall by 35 ??

Dont know atm