A Master Class in FX Intraday Trading by F & Co

[NVP]

morning all

been selling usd ..........not bad so far

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1707.html#post2656918

euro has had a good Asian and an even better London so far so no brainer on the bull currency to buy

N

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1707.html#post2656944

amongst my earlier posts here I did recommend only committing to USD when confirmation of breaches were shown.......otherwise play the big movers as primary lead currency

well usd certainly breached alright .....jees what a day....!

later
N

 

[Forexmospherian]

2 LiTs Areas for EJ Today

EJ

8 10 am

This pair on its own would have easily supplied a 100 - 150 pip total off just a couple of trades today

After the rise after the European Open for over 90+ pips - we then get the fall of 60 pips so far.

if you were able to PPND this pair then 200 - 300 pips was on the cards for 8 or 10 both way trades with partial stakes left on.

Its also been a good example of a FX Pair having 2 LiTs Areas in a day - approx 7 hrs apart

Heres how the EJ progressed over the day

 

[Forexmospherian]

UJ - Bull Bias all day from Pre Open LiTs Area

UJ

Great example of a FX pair with one LiTs Area from Pre Opens all day - resulting in a 80+ pip rise over 15 hrs and it still bullish whilst it remains above 123 00 area

Did not trade it - did not get one pip off it all day - although today recovering from a party weekend and had to visit the dentist after suffering toothache - so not been the best time to spend 4 -6 hrs + trading 4 -6 pairs over a 10 hr session

Will be around again tomorrow - but wanting all you guys to work out the LiTs Areas for the FX pairs of your choice .

The EJ was an easy pair to focus on today - remember every day can be different so what might be "flavour of the day" for 2 days last week - might be just in a boring tight range and another different pair takes over

This week i am focusing on the Euro crosses plus the GU ( tomorrow more red news on it ) and the UCad when need be

UJ today on new "traffic light" sequence set up with the longest LR now red and yellow dots as the LiTS guide

 

[Raja1977]

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

hi Forexmospherian, i am using mt4 so i download the indicator name Linereg, Please guide me how to set the LR Period values accroding to your chart, i want to make the charts same like yours. Please help me.
also i need to know how i can use for scalping.
and sorry i dont know about your post below ....

(((((((( 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. )))
Plz Plz Help me.

Thanx Regards

 

[Forexmospherian]

hi Forexmospherian, i am using mt4 so i download the indicator name Linereg, Please guide me how to set the LR Period values accroding to your chart, i want to make the charts same like yours. Please help me.
also i need to know how i can use for scalping.
and sorry i dont know about your post below ....

(((((((( 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. )))
Plz Plz Help me.

Thanx Regards

Morning Raja

If you are using MT4 than i would suggest you use a set up like Sun11 has on her charts - the advantage being the change in colours as the LR's go from bearish to bullish.

I suggest you check out Sun's thread -

http://www.trade2win.com/boards/trading-journals/208116-my-journal-pathways-improvement.html

please go through this thread and it shows the suggested method and ways to progress.

Unfortunately - I dont suggest you start with 9+ Lrs - you will be confused and therefore go through the different stages Sun went through over the last 3 months or so

My method takes between 4 and maybe 8 months to learn properly. If you try and shortcut it and try and cherry pick parts and miss out all the different stages - you maybe will become more confused - leading to poor results etc

Its important you have read the other threads as well connected to my method - already listed at the start of this journal. There might seem a lot - but as i am sure you have already found out - trading is not easy - the skills required can take years to develop and its not possible just to acquire them over a couple of months etc - that's why most traders fail etc

GL and please i urge you to try and learn the method properly - which does involve a lot of study and commitment

Regards

F

 

[NVP]

hey all

my sessions already over due to work.....not bad

heres my take on things

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1707.html#post2657424

at the moment the king kong bull is actually Yen .....USD is pretty damn strong (although its weakened in London so far)

Euro is the Sell currency , AUD as well looks weak London

ok later ....good hunting ....I would stay loyal to buying usd on bounces unless it really dumps London..see the support levels chart 2

N

 

[sun11]

Good morning...
Not trading in this morning...until my account get verified...setting my up micro real account.
Lets see how I loose it...lol

Regards

 

[NVP]

here was my attack lines today scalping usd buys ..............wont bore you with results ...........................mainly selling the Europeans and a little AUD at times

heres EU for example ............

later
N

 

[NVP]

ok one more throw of the dice ..........

 

[NVP]

went ucad around 3328

 

[NVP]

went ucad around 3328

3332 now ...........already in EU sells so wasn't worth it ........

 

[NVP]

3332 now ...........already in EU sells so wasn't worth it ........

ok gotta scoot .......still happy to trade usd bounces north ...its still only S1 London

later :smart:
N

 

[sun11]

GU is in nice move...took profit only 4 pips. My target was around 10+. Now I missed it..

 

[NVP]

ok gotta scoot .......still happy to trade usd bounces north ...its still only S1 London

later :smart:
N

usd buys lasted till 8.45 ..........then selloffs so far ..........shame as you have to change tack and decide when / where to go bear usd

see here

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1708.html#post2657564

back later at lunchtime ........then tied up all afternoon in meetings sadly

N

 

[Forexmospherian]

11 38 am

Hope to be around for a few hours this afternoon

I hope you all have had a decent morning ?

I posted a reply to a follower at prior to 6 00 am and was trading on and off after then - with main focus on GU after 9 30 am news

See you in a bit

F

PS - check EA Chart out - very clean with lots of clues for sells under 5040

Will post chart when back later - as lovely set up

 

[Forexmospherian]

EA - Today up to US session

11 38 am

Hope to be around for a few hours this afternoon

I hope you all have had a decent morning ?

I posted a reply to a follower at prior to 6 00 am and was trading on and off after then - with main focus on GU after 9 30 am news

See you in a bit

F

PS - check EA Chart out - very clean with lots of clues for sells under 5040

Will post chart when back later - as lovely set up

EA

2 20 PM

Here's my latest EA chart for today with 6 key times marked

Not about for all 6 trades and was late for early sells - but it was a clear buy early Am and then after the 2 Opens - we went under the LiTS scalp area and basically under 5040 it was SELLS

We can always scalp in both directions in any bias - but really the bias should give you larger movements etc -ie bear bias under a LiTs area - scalp buys might give you say 5 -15 pip quick retraces - but scalp sells should be then 10 -40 pip falls as thats with the bear bias of the session

I mentioned I thought this was a clear set up - even of a TL - but like the extra conformations of time and LR's and levels - etc etc

EA - I min LR chart in news colour set up

 

[Forexmospherian]

GU - Today up to 2 30 pm

GU

2 30PM

We had Pound news this morning at 9 30 am and so this was a pair worth looking at

It was bearish under its LiTs from early morning - but that changed after the red news announcements and above 80 and 85 its been bullish and still in a bull bias but we now need above 5226 and 35 to take more additional buys

Under 5190 would be a clue its losing bull bias for US session

GU - Chart

 

[Forexmospherian]

GU - Scalp buy after 2 29 pm and 5208

GU

2 55 pm

Mentioned previously the GU is still bullish but needs over 5226 and 35 to take more scalp buys

Well the last scalp buy in the range was at 2 29 / 2 30 pm around 5208

All lined up

Nice set up

Can we carry on up higher ??


We need to stay above 5215 / 16 on pullbacks to have another try over 35 +

We might be able to sell off from 30 to 40 as well - lets see what happens after hour change

 

[Forexmospherian]

GU

2 55 pm

Mentioned previously the GU is still bullish but needs over 5226 and 35 to take more scalp buys

Well the last scalp buy in the range was at 2 29 / 2 30 pm around 5208

All lined up

Nice set up

Can we carry on up higher ??


We need to stay above 5215 / 16 on pullbacks to have another try over 35 +

We might be able to sell off from 30 to 40 as well - lets see what happens after hour change

GU

3 18 pm

Topped at 3 04 pm around 5238

3 08 pm was the scalp sell at 5235 area

Nice scalp buy from 2 30 pm and 5208 area

The sell after 3 08 pm already dropped 15 pips

Busy on GU

Also note EA done another low - nice ;-))

 

[Forexmospherian]

GU

3 23PM

Unless we go under 5205 and 5200 - I reckon we can scalp buy the GU again

Initially had to stay above 5215/16 - even a fall to 5208 / 10 could still see another turn and try up