A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

2 08pm

GA

1500 is a R area

atm price at 1495

 

[Forexmospherian]

2 08pm

GA

1500 is a R area

atm price at 1495

So far not got over 1495/6 for now

would need under 78 and 74 to sell more though as above 80 atm still bullish

 

[Forexmospherian]

2 15 pm

Ok guys - see you later on some time

After a busy 12 21 pm to after 1 30 pm and even up to 2 00 pm - get the feeling it might all slow down

Just hope not

 

[Oscar Reed]

a little tough today ............for me if trading I would still be working my usd rebuys off the bounce levels ........

like now !! ...Europeans under pressure at moment

N

ok gotta scoot amigos ..............late for a call :whistling

Hi N

Just a question when you scalp for short periods when you can during the day.

How do you decide what pair to scalp when you only have 10/15 mins to do so.

Or do stay with the same pair.

Cheers

 

[Raja1977]

EA

1 Min Full LR chart

Marked the LiTs area but not covered it in across all of the chart as not to hide any candle action.

Basically above 5260 - the PS goes bullish and favours tests of R areas - and so prices above 5260 favour buys

Prices under 5240 are in a bear Price structure for session. Remember the session is today AM - not trend for yesterday or last week or for month - we are only interested in the movements of now - and so really weekly / monthly trends are not that important for Intraday and scalping

Either side of any LiTs - we will get S & R

So far 5195 - 5200 is the support area

very nice. i have little problem plz explain how you plot center line of LiTs area for example 5240 is that todays open price or yesterday open price ? this is the main thing if we know that than it will be good for us to easily read charts on any time frame. best regards keep it up

 

[sun11]

Good morning F,

Last day I posted the Lits area as you told me to. I don't know its wrong or right.
I'm still confuse..Is this LitS are get counted with S/R levels like you posted in the chart or with longer LRs or both. It seems like you mark the Asian range. So are the lits area is for whole day or only for the London session.

Pardon if you answered these questions before.
Regards

 

[Forexmospherian]

Good morning F,

Last day I posted the Lits area as you told me to. I don't know its wrong or right.
I'm still confuse..Is this LitS are get counted with S/R levels like you posted in the chart or with longer LRs or both. It seems like you mark the Asian range. So are the lits area is for whole day or only for the London session.

Pardon if you answered these questions before.
Regards

Good Morning Sun

The LiTs Area is normally for the morning session from and after the 2 Opens.

Its then a case that if the bias remains the same - the LiTs can carry on the same and the bias of the price structure remains the same all through the whole European and London Session.

Normally though by after Midday UK time and early US we start to see changes and then this leads to a new LiTs area - example given the other day of the EJ - with 2 Lits areas in under 10 -12 hrs.

Not around to later on again today - but will cover it more later on.

For now use the main 3 longest LRs setting to show were the area is - on my chart the longest thick red LR being normally the best guide ( ie approx setting around 500 )

Have a good day

Regards


F

 

[Forexmospherian]

very nice. i have little problem plz explain how you plot center line of LiTs area for example 5240 is that todays open price or yesterday open price ? this is the main thing if we know that than it will be good for us to easily read charts on any time frame. best regards keep it up

Hi Raja

Will update and explain more later on today - no problem

Each session the LiTs can change - I normally work one out Pre London and European Opens for the the AM to Midday UK Time

Regards


F

 

[NVP]

hey all

busy here as well so sorry - no trading

heres my take on day so far

N

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1706.html#post2654926

 

[MajorMagnuM]

frustrating moments

 

[MajorMagnuM]

hey all

busy here as well so sorry - no trading

heres my take on day so far

N

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1706.html#post2654926

Cheers N

 

[NVP]

Cheers N

go gettum MM

 

[NVP]

Hi N

Just a question when you scalp for short periods when you can during the day.

How do you decide what pair to scalp when you only have 10/15 mins to do so.

Or do stay with the same pair.

Cheers

I look at my indicators and get a feel for where the 8 currency indexes are in the day

whos strong / whos weak
where is everyone relative to Asian session / open
where is everyone relative to London Session / open
where is everyone relative to US Session / open (if its happened)
whos retracing
Whos hitting S / R levels
news events coming / Happened in day and relative effects so far

and my beloved USD index gets the full treatment regarding where I think its going to go next

then I pull the trigger .........:smart:

ALSO .........

within all of this trading malarkey one thing I notice that many traders don't do...........

what is NOT happening in the markets is equally as important as what IS happening ...........:whistling.........now that's Deep !!!

 

[Oscar Reed]

Morning All

Tested a few trades on AUD/USD to get used to comm and spread.

Only random entries.

Bit strange trying to scalp FX, maybe too many numbers.

Bit of a one market scalp monkey in the past.

 

[Forexmospherian]

Tuesday 11th November - The EU to Midday

EU

First of all apologies for not being around to post the LiTs and other comments this morning.

Got quite a few things happening this month - both at home - Daughters 21st Birthday this weekend - as well as some other separate projects.

Because of this - I have decided to not do early morning blogging for now - and just fit my trading in and around the day over a 12 hr period.

I did start my first trade of the Morning and 5 52 am on the EU - as a sell

Shame really - got taken out 3 partial stakes on sells over last 5 hrs - but its still been my best money earner this morning for several reasons - As we all know the Pound news was not that easy to trade - and its not been the easiest of AM sessions for non scalpers.

My EU LiTs area is not the Red resistance area - LiTs is not just pivots or S & R - its more accurate when plotted right.

I am hoping to show Sun how to plot it accurately and then maybe other members can learn from her take on it.

EU Chart

 

[Forexmospherian]

EU

12 15 pm

Check out time rules as well on EU 1 MIN Chart above on interim highs and lows.

I find it very useful on some sessions after 20 mins and 33+ mins and of course over 50 -60 mins as extra clues

 

[Forexmospherian]

I dont want to make things too complicated for any students of the method - but on EU my scalp LiTS worked out about 0743 to 0746.

Above both prices favoured scalp buys and then below both prices it favoured scalp sells

Then the next clues come from S & R areas - the R area shown as the red rectangle - but so far - no strong support area - but we do have 0715 - then 0685 -0700 as expected areas

 

[Forexmospherian]

12 35 pm

Pound Crosses

We had 9 30 am news this morning on the Pound

What a stitch up - total manipulation job going on

3 mins before news - the Pound strengthened and all 3 crosses we look at - GU / GJ / GA started rising - in fact nice quick moves of over 15 + pips

Then on the news release at 9 30 am - 40 -50 pip drops

I was happy for that on the GU as I had it bearish under 5160 - my scalp LiTs - say 59 -63 ish

But again that was another trap - a bear trap in this case.

Biggest clue for me was low not being breached after 30+ mins - and then still price trying up after 50 and 60 mins from low

Once back over 5160 - then it was a case of looking for more scalp buys - knowing then 5180 to 5200 is all R area

GA as risen 100 pips up from it after news low - shamed to say - not got many of them at all - and the ones I did were on partial stakes

Still the clues were besides our LR's etc - Time rules and all 3 Pound crosses in sync as buys

Prior to Open and 9 30 am - all 3 were out of sync - obviously deliberately set up that way to make it more difficult to follow - and i am sure it worked ;-)

 

[Forexmospherian]

EU

12 43 AM

Amongst the clues

Low at 12 03 pm at 0711

Higher low 30 mins later at 0713/4 at 12 33 pm with a LR cross for a scalp buy

We would now need to see above 0726 to stay with scalp buys

I would only look at holding scalp sells on under 0708 and 04

0710 to 20 -25 could become a lunch time BTTZ

 

[Forexmospherian]

Notice we have Draghi speaking on Euro at 1 15 pm - so thats why its been bearish again

Normally you dont see any bull bias off Draghi and his words - but never count on anything always being the same- so if we drop to 0650 area - its expected - but if we dont and we stay beteen 0690 and 0750 - well then that could be expected too ;-)