A Master Class in FX Intraday Trading by F & Co

[Oscar Reed]

No trades in the last 24
Busy with work.
Hope to fit 1 or 2 hours today.

 

[Forexmospherian]

No trades in the last 24
Busy with work.
Hope to fit 1 or 2 hours today.

Hi Oscar

GL with both the AU and your indices LR method

Have a good day

F

 

[Forexmospherian]

Friday 13th - Always a good day to Trade

Another Freaky Friday - not because of the NFP's release today - just due to the date if you are superstitious ;-)

Personally - I am not so will look for ladders to walk under today etc etc lol

I will try and pop in for a couple of hours this morning - but maybe after both Opens

Dont forget this German red news at 7 00 am

Have a good day and see you around later on

F

 

[NVP]

thought for the Day ............will we see profit taking on USD pairs ?

N

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1706.html#post2656078

 

[NVP]

at the moment scalp wise ?

euro having a mare today ........weak in Asian and still weak London so far ........SELLS
GBP had a mare Asian but has stormed back London so far .....BUYS
USD is Bull for day and now coming north on some decent S bounces .....BUY

So EU is as good as any to focus on for Europe

later
N

 

[Forexmospherian]

EJ - Example of LiTs Pre Opens

EJ

10 45 am

I started this morning just before the 6 00 am UK time window with sells on the EU and GU.

I start early - pre opens - ideally to leave some partial stakes on from scalps - hoping they might work and make 20 - 40 - 80 - 100+ pips throughout the course of the day

EJ was not one of my first scalp sells - but I wanted to get a sell on under 132 40ish 0 actually 43 as my scalp LiTs price

That happened after 7 00 am and 3 hr later I have taken it off at a support area.

I was not around to PPND it - ie adding more scalp sells and even the odd scalp buy but have now

Ideally i would like to sell under 132 30 next for another try under 131 95 -90

Above 132 36 / 40 - another ball game - ie we could then get another LiTs area and then it a bull bias - whereas under 132 30 -35 - the session still in in bear land

Maybe this chart explains the LiTs areas again which worked and was great for the Opens

 

[Oscar Reed]

Morning Mr F

Bit of a struggle to get a runner a going today.
More down to me, cut a couple of trades short.
Instead of letting it run or part of it run.

Finding the AUD/USD a bit of a dead duck after the move yesterday.
And might be taking away from my DAX work and focus.
Maybe I only need one market to scalp each day.

Night time over here, so done for the week

Have a good weekend.

Oscar

 

[Forexmospherian]

AU - LiTs and Midday UK time update

AU

12 11 pm

Update for Midday

LiTs shown on chart

We had a nice approx 2 hr rise from after 9 30 aa - shown with the main cross over of the 3 longer LRs - shifting bias to bullish

Interesting that both AU and EA were boths buys after 10 30 am UK time - normally oppositely correlated but with a strong Euro and a weaker dollar it allowed that to happen

 

[Forexmospherian]

EA - 10 am to Midday and then to now

Shown a EJ and AU chart

Here's the EA - this was bearish again under its LiTs pre opens

Now its testing S & R


These 2 moves move ideal for partial after scalps - especially the 2 hr rise

 

[Forexmospherian]

Shown a EJ and AU chart

Here's the EA - this was bearish again under its LiTs pre opens

Now its testing S & R


These 2 moves move ideal for partial after scalps - especially the 2 hr rise

EA

25 mins later - another 22 pips

 

[NVP]

thought for the Day ............will we see profit taking on USD pairs ?

N

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1706.html#post2656078

yes .........well its certainly trying :smart:

N

 

[NVP]

at the moment scalp wise ?

euro having a mare today ........weak in Asian and still weak London so far ........SELLS

GBP had a mare Asian but has stormed back London so far .....BUYS

USD is Bull for day and now coming north on some decent S bounces .....BUY

So EU is as good as any to focus on for Europe

later
N

USD had a good session from aboves calls .......not bad !

N

 

[NVP]

AU

12 11 pm

Update for Midday

LiTs shown on chart

We had a nice approx 2 hr rise from after 9 30 aa - shown with the main cross over of the 3 longer LRs - shifting bias to bullish

Interesting that both AU and EA were boths buys after 10 30 am UK time - normally oppositely correlated but with a strong Euro and a weaker dollar it allowed that to happen

usd ( green line) fell like a stone ........added to confusion ...........otherwise the Blue Euro index and the orange AUD index are as disconnected correlation wise as usual today....with AUD hammering a bear euro :smart:

N

 

[Forexmospherian]

EJ - Today

EJ

10 45 am

I started this morning just before the 6 00 am UK time window with sells on the EU and GU.

I start early - pre opens - ideally to leave some partial stakes on from scalps - hoping they might work and make 20 - 40 - 80 - 100+ pips throughout the course of the day

EJ was not one of my first scalp sells - but I wanted to get a sell on under 132 40ish 0 actually 43 as my scalp LiTs price

That happened after 7 00 am and 3 hr later I have taken it off at a support area.

I was not around to PPND it - ie adding more scalp sells and even the odd scalp buy but have now

Ideally i would like to sell under 132 30 next for another try under 131 95 -90

Above 132 36 / 40 - another ball game - ie we could then get another LiTs area and then it a bull bias - whereas under 132 30 -35 - the session still in in bear land

Maybe this chart explains the LiTs areas again which worked and was great for the Opens

EJ

Over 5 hrs later

It test tease up to 40 /41 but was happy to sell again under 132 30

 

[Raja1977]

EJ

Over 5 hrs later

It test tease up to 40 /41 but was happy to sell again under 132 30

Hi Forexmospherian, please explain how you determine the LiTs area and Center line, i love your post, it will my be pleasure to explain Lits area. actualy i am crazy about learning.
Thanx

 

[Forexmospherian]

Hi Forexmospherian, please explain how you determine the LiTs area and Center line, i love your post, it will my be pleasure to explain Lits area. actualy i am crazy about learning.
Thanx

Morning Raja 1977

Over the last couple of weeks I have been explaining how I work out the LiTS area - for the 2 main Opens from 7 00 am UK time.

My main indicator of the area is the longer LR's - in fact the longest 3 from approx a 280/ 300 setting up to a 500 LR setting. The actual cross over area of the 3 maybe is the indication of the centre line of the area - but then we have to take into consideration the nearest interim S & R areas closest to the cross overs.

This can mean looking back up to even 12 hrs prior to 7 00 am UK time on a 1 min chart - normally you don't need over 12 hrs - in the majority cases maybe 6 to 9 hrs is sufficient .

I am going to be playing around some time today at colour coding my charts again to see if they may assist in identifying the cross overs. As I am sure you know we use the 2 ( up to 3 ) quickest LR setting for our scalping - the 3 mid range are for scalp / swing bias and the 3 longers LR setting help determine the session bias - and the session is normally 5 to 8 hrs.

I have found this article by and American trader and author which mentions more about market structure / price actions and even uses the "line in the sand " phrase which might assist you understanding it more

http://adamhgrimes.com/blog/library/market-structure/

Hopefully that might assist along with more examples i will be showing on a revised "traffic light" colour system today and this week. It may feature more than 9 LR's but that's purely due to my own testing and continually assessment of my own methods.

All the best and GL on your trading journey

Regards


F

 

[NVP]

The Lits is yet another key and priceless element to F's approach.......to,a scalper it,is absolutely essential to,know there that price is......I also,ensure,I know where similar,price lines are,for my currency indexes ........although that's a totally different game to pairs

N

 

[NVP]

Still not getting a chance to,trade much...... but enjoying F,s thread and getting a real kick from his crew improving week by week

Keep,it up,guys ......keep,it up

N

 

[Forexmospherian]

Example of a LiTs area change on the EA on Thursday 12th

The Lits is yet another key and priceless element to F's approach.......to,a scalper it,is absolutely essential to,know there that price is......I also,ensure,I know where similar,price lines are,for my currency indexes ........although that's a totally different game to pairs

N

Hi N

I agree - any clues that we can use to assist in scalping is important and although a lot of scalping can be against the normal trend ( what ever that is ? ) when you have clues in advance of a change in price structure bias - then that can lead to more scalps with far larger targets

A great example last week was on the EA on Thursday Am 12th November - From Early Opens the bias was down - bear - and 50 to 60 pips scalps sells were on the cards

However after 9 07 am we had the opportuntity for scalp buys that then lead after Midday to a scalp buy after 12 51 pm leading to a new PS bias of Bull - we turned above the new LiTs formed that lead to a 160 pip rise over the next 2 hrs

I have been playing about with my colours and wanted to have not just a traffic light sequence with the scalping LR's but also try and obtain a mid range scalp /swing traffic light set up - ideal for signaling moves of say 25 to 150 pips?

It will take me at least a few days to get used to my new colour scheme and now my longest LR - uses a lot for the mid range of the LiTs area is now a dotted red and green line

Here's the new set up placed on the EA for that action mentioned on Thursday AM

 

[Forexmospherian]

Monday 16th November 2015 - Pre Opens

Good Morning to all FX Intraday Traders

New week and a very slow start atm - noticed Draghi speaking at 10 15 am so that might be one reason - along with what happened in Paris on Friday evening etc

I have a new traffic light colour sequence on my LR charts that i will be trying out over this next couple of days - posted one chart last night and will do some more during the day.

Not planning to blog every morning as before - might just cherry pick a few days along with comments on FX Pairs bias via the LiTs Areas.

For all students of the method - normal template

Please remember not every LR scalp cross will happen exactly at a key times - but normally over 80% + of all good scalps happen in the 2 time windows every hour

Be aware of the exact hr changes at 7 00 and 8 00 am with the 2 opens - as you can get spikes etc before new directions

Will be popping in later on and please meanwhile feel free to comment with regards to any FX pair along with any calls / projections / ideas / charts / questions etc etc

Have a good day and great week

All the best

F