A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

hey F .............you know that answer ..........none of us know


at this moment however I am selling usd .......in 5, 10 15 mins I might be buying it ............so 1 trade at a time

N

Very very true - N

I try and work out the session structure to find the early warning alarms - based on all the interim supports and resistance areas - either holding or all letting go

We know the bias - and we know on the EU - 0700 - 0705 will be a R area and on EA - the big round number of 4700

So far we have not hit either - so thats another trick being played for now - not wanting to show their colours too early before the LO at 8 00 am

A very good 90 mins for me - I hope same for you


Lets hope there's plenty more available over the rest of the day

 

[NVP]

7 32 am

Talking of the EA - Euro is stronger than Pound atm - ie EA & EU rising but GA and GU not the same

With the dollar weaker - EU just touched 0682 so far

Pullbacks staying above 0669/70 are still buys again for now

EA has not been on my radar today ...........couldn't quite get excited and I didn't really have a handle on buying aud off that Asian low..............perhaps I should've bought EA off the recent AUD selloff......... :smart:

 

[NVP]

ok as I leave for some conference calls

the Euro has had a blinding London....25-30 pips added on most pairs from it
CAD and GBP the dogs .....up to 20 pips dpwn London

USD a steady sell but not in the class of those guys

so steady eddie for me selling usd nets me a decent haul in 90 mins of trading

back later

N

 

[Forexmospherian]

EA has not been on my radar today ...........couldn't quite get excited and I didn't really have a handle on buying aud off that Asian low..............perhaps I should've bought EA off the recent AUD selloff......... :smart:

Whats been nice on the EA is that its like the EU and AU on steriods

So far I worked out from 5 51 am - nearly 2 hr ago it given 120 pips in say 4 main scalps

Ok I have only got atm approx 73 pips of that lot - but that's massive compared to 2 hrs on most pairs

I think if you got just 2 of the 4 scalps - you should have made over 40 pips easily enough - thats like daily targets stuff of just 2 trades and a hour or less

 

[Forexmospherian]

8 02 am

Euro strength turned off before the London Open for now

 

[Forexmospherian]

7 32 am

Talking of the EA - Euro is stronger than Pound atm - ie EA & EU rising but GA and GU not the same

With the dollar weaker - EU just touched 0682 so far

Pullbacks staying above 0669/70 are still buys again for now

EU

8 05 am

Ok - so far stayed above 0669/70 on pullbacks from 0689

I cannot scalp buy atm

still keeping 30% on the sell under 86

 

[Forexmospherian]

EU

8 07 am

Dilemma

I should be scalp buying from 75

Have not done so far - -might regret it - but would buy again over 0694 and 0705

 

[Forexmospherian]

Out today at 8 30 am for about 40 mins or so - so got another 15 mins to make some decisions

 

[Forexmospherian]

EU

8 07 am

Dilemma

I should be scalp buying from 75

Have not done so far - -might regret it - but would buy again over 0694 and 0705

9 45am

EU

I had to go out by about 8 40 am - the scalp buy was only worth 10 pips or so - but it did take my 30% sell partial I had left on

BUT

My big clue on the EU was the time rules

So the fact we had gone well over 30+ mins from the EU morning high - I placed another sell on - but only at 50% stake size - as going out - with stop at 0690 - slightly more than my normal 3 -5 pips - but then risk was lower on only 50% stake sixe to normal

60 + pips later - nice fall - I am happy

BUT

Missed on other drops - ;-((

 

[Forexmospherian]

EU - 10 00 am UK Update from 5 51 am

EU

Approx 10 00 am

I have had the EU bullish above 0620/25 this week and so far its topped at 0689/90 area

After setting up false bull bias above 0670/ 80 - price stopped before 0700 and the turned and dropped over 80 pips over the last 90+ mins

I am sure the market may fool many - well at least 80% of all retail traders most of the time - as only maybe 10 -20% are regularly gaining.

Luckily - we know most of the current tricks and manipulated set ups etc - and so an act on them to our advantage

The EU this morning as not really been my big earner - ( EA as before I went out) but its been nice in terms of only really 2 main directions over last 4 hrs - and we got pips off both of them

Update chart for 10 00 am


We do need under 0600 and 0590 to take more sells and then 0575/80 is another support area then

Back over 0625 / 30 - would still be looking for more scalp buys

 

[Forexmospherian]

10 46 am

EU

For now its in a range of say 0595/8 to 0625 ish - say 25 -30 pips

We know over 25 and 30 favours more scalp buys and maybe a bit more of a retrace

We know under 0595 and 0590 favours tests lower

In the range we have to watch the time rules - and if we get over 30+ mins with no new breach either way we have a BTTZ tease zone

If that happens - best to wait until we see proper breaches again or just scalp in the 25 pip range - or even better - chose another pair

 

[Forexmospherian]

10 46 am

EU

For now its in a range of say 0595/8 to 0625 ish - say 25 -30 pips

We know over 25 and 30 favours more scalp buys and maybe a bit more of a retrace

We know under 0595 and 0590 favours tests lower

In the range we have to watch the time rules - and if we get over 30+ mins with no new breach either way we have a BTTZ tease zone

If that happens - best to wait until we see proper breaches again or just scalp in the 25 pip range - or even better - chose another pair

EU

11 07 am

So far dropped to 0580

I have some minor support around 75/80 - so need under 70 for adding more sells whilst we stay under 93/4

Above 0596 and 0600 - I would be out 30% stakes on sells

 

[Forexmospherian]

EU

12 10pm

11 59/ 12 00 pm was a scalp buy - but we need over 0606 and 0610 to stay with any buys

Low so far 0578/9 and so need under 74 and 70 to maybe look at taking any new scalp sells

 

[MajorMagnuM]

sold ea sl at 22

 

[MajorMagnuM]

will pull out at 18. humph

 

[MajorMagnuM]

out -3

 

[MajorMagnuM]

ga overextended against lr sets?

 

[Forexmospherian]

sold ea sl at 22

Hi MM

Good to see you around

Interesting had not looked at EA for a scalp - but had been in the EU scalp buy from Midday and know i need over 0606 and 0610 to stay with it

Will check out EA - news also in just over an hour

Regards


F

 

[Forexmospherian]

EA

12 27 PM

Would need under 4608/9 to sell EA - above there still scalp bullish atm ?

 

[Forexmospherian]

Need under 0588/9 to sell EU - above there still scalp bullish atm