A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

Hi F

Thanks once again for your sterling work here.

Can you explain the 30 min time rule again please

I took the short EA at 12:10 Let s hope it can break support around 5205 5200 area

Dave.

EA

5200 and then after 12 39 pm and after 12 51 pm went all back to scalp buys

yes time rules

We need interim highs or lows to last ideally over 30 and 60 mins with no breaches for confirmation of changes

if we go say 20 -min plus with no breach then more than likely it need longer or its already testing S & R areas - like EA at 5200 area

If then it try up again - it should take approx over 50 + or 60 mins to then break above the interim high or low

Great example on EA was at 8 21 am this morning - great turn

It is a bit complicated but will make more sense as you get used to the method

GL

Regards

F

 

[Forexmospherian]

GU

1 12 pm

The news at 9 30 am was bullish but price could not get over 5450 and 60 - which was needed for more buys

Its fizzled out dropped under 5420 with next supports 5400 to 5405

After Midday was just sells - but so slow

 

[MajorMagnuM]

EA

5200 and then after 12 39 pm and after 12 51 pm went all back to scalp buys

yes time rules

We need interim highs or lows to last ideally over 30 and 60 mins with no breaches for confirmation of changes

if we go say 20 -min plus with no breach then more than likely it need longer or its already testing S & R areas - like EA at 5200 area

If then it try up again - it should take approx over 50 + or 60 mins to then break above the interim high or low

Great example on EA was at 8 21 am this morning - great turn

It is a bit complicated but will make more sense as you get used to the method

GL

Regards

F

i canot see how this applies to EA 08:21?

 

[Forexmospherian]

EA

My last quick LR cross was at 12 04 / 5 pm at 5226

Ignored it - and thought we would bounce up again above 5215/6

WRONG

It kept on falling and my 30% partial buy with stop in profit was taken out at 5212

Now silly action last 4 mins - glad I am out of it atm

GU sell still OK though

 

[Forexmospherian]

i canot see how this applies to EA 08:21?

8 21 am on EA was a HL at 5152

then over next 30 mins and next 60 mins + it was never breached and just kept on rising

I would have expected if it had not been an interim low to have been breached with 20 mins or certainly by 1 hr

Neither case and then for me it confirmed it wanted a larger turn up




Regards


F

 

[Forexmospherian]

8 21 am on EA was a HL at 5152

then over next 30 mins and next 60 mins + it was never breached and just kept on rising

I would have expected if it had not been an interim low to have been breached with 20 mins or certainly by 1 hr

Neither case and then for me it confirmed it wanted a larger turn up




Regards


F

When I say HL - MM - i mean from low at 5149/50 - the HL at 21min past 8 am was what about 6 - 7 mins later and by then more LRs starting to go under

5150 would be recognised as a support area as well

F

 

[Forexmospherian]

News in 6 mins

Need to check UCad as well as EU / Dollar pairs

 

[Forexmospherian]

UCad

1 27 pm

Just trying to do another high for day

is this a set up for Cad news ??

Dont know atm - but be aware

 

[Forexmospherian]

1 30 pm

EU just doing a new low at 0911

Ucad reversing atm

News no real effect for now

 

[Forexmospherian]

EA

1 40 AM

Check out my chart with red R area

For me now EA is bullish above 5185/ 90 and even 5200

But Bearish under 5250

so a range from 50 to 80 pips even

Next clues - either over 5232 or under 5207

 

[Forexmospherian]

Out after 2pm this afternoon

Will try and pop back in before 4 pm - if not will be later on

The EA high at 5230 as gone over 30 mins with no breach - but as we know over 50 -60 mins could try again to breach it

 

[Forexmospherian]

1 30 pm

EU just doing a new low at 0911

Ucad reversing atm

News no real effect for now

EU

1 46 PM

Low now 0907 and bounces staying under 18 are sells again for now

After 2 00 pm we might try down to 0900 or under - but then get feeling it might try and turn up again

Without price seeing over 0918 and then 0930 then - its still just more looking for sells again

 

[sun11]

EU in a very nasty range.

 

[keen246]

EU in a very nasty range.

That's the kind of ranges Bob Volman's method is based on. A trader following his method would be delighted on how it squeezed before breaking down.

 

[davetherave65]

Eurusd short 13:56

Hi F and all

Sold at down arrow

+20 as I write

keeping close eye as 1.0880 support area

Dave.

 

[sun11]

That's the kind of ranges Bob Volman's method is based on. A trader following his method would be delighted on how it squeezed before breaking down.

Yes made few pips.

 

[davetherave65]

Hi all
I am over the moon
I am +67 pips up for today !:clap:

School run now !

Check back later

Good Luck all

Dave.

 

[Forexmospherian]

UCad Today

]6 42 am

LiTs Areas

Ucad - 3034 - 3073
[/B]

UCad

1 27 pm

Just trying to do another high for day

is this a set up for Cad news ??

Dont know atm - but be aware

4 45pm

UCad today

With it a pair with red news on it - you expect more movements

Above 3034 and 3073 - I had it in a bull Price structure - ie favouring buys

For news - it was at a daily high

Under 30 mins after news - another daily high - so many clues to buy above 3073 and 3100.

So far price as made 3174 - 100 pips up from the LiTs = posted at 6 42 am

Guess that qualifies for a directional call in advance as pre 7 00 am price was only around 3060



I managed it part stakes with stops in profit

i will tighten stop up to 3150 and if i get stopped - no problem - plenty of profit even ast 30% stake size

 

[Forexmospherian]

Hi all
I am over the moon
I am +67 pips up for today !:clap:

School run now !

Check back later

Good Luck all

Dave.

WD Dave

Guess you getting on with it OK - Thats good

I am sure you will have the normal 3 + bad consecutive scalps - ( I still do have after 20K live scalps over 7+ years full time ) but dont panic - keep stops tights have a break and re focus

Its just adapting to the ever changing market etc

I think if you aim for anything like 10+ trades over 4 -6 hrs - then you should end up with profits.

For me to get my daily 50 pip target - some morning easy with 4 -6 scalps other days might take 15 + scalps as I get a few wrong and the ones that work only gove me 5 or 7 pips.

Rarely take over 25 scalps in a day - but also rarely stop at under 10 trades.

Loads more to learn but - very pleased with your progress - keep it up etc


Regards


F

 

[davetherave65]

Thank you.

my thoughts are we should leave it (EA) as in bttz. threfore we need to see pa that breaks a level then get in on test. ie we need more info than the range limits give us if we are looking for an out of range trade. other wise we have to assume 51.78 to 52 is the [playground.
lr wise, the pa consolidation since 09.00 has allowed a start of a bias change to the negative

Hi MM
Thanks for your analysis