A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

7 04 am

GU

Its still bullish for now above 5103/5 area - but really needs above 5120 to stay or take new scalp buys again.

5011 is high so far and I will try more scalp buys for now

 

[Forexmospherian]

7 14 am

GU went scalp sell from 7 09 am KT - whereas the EA stayed as a scalp buy from after the Open

3 scalps on GU - 2 so far for 8 pips and 4 pips - and one for minus 1.5 pips

GU is still bullish above 5102/3 for now

 

[Forexmospherian]

7 14 am

GU went scalp sell from 7 09 am KT - whereas the EA stayed as a scalp buy from after the Open

3 scalps on GU - 2 so far for 8 pips and 4 pips - and one for minus 1.5 pips

GU is still bullish above 5102/3 for now

7 32 am

Caught the scalp buy at 7 28am at 5101/2 and so far made 6 pips on it

Off out in a bit now - so see you later

Total pips in the kitty so far - 31 pips off 7 trades with 1 wrong for minus 1.5 pips loss

See you later on guys and hope the LO is busier

 

[NVP]

hey all

usd a little painful to call from 6am ..such is life

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1716.html#post2666492


N

 

[NVP]

7 14 am

GU went scalp sell from 7 09 am KT - whereas the EA stayed as a scalp buy from after the Open

3 scalps on GU - 2 so far for 8 pips and 4 pips - and one for minus 1.5 pips

GU is still bullish above 5102/3 for now

from 6am and the sloooooooowly retracing usd south I have been mainly focussing on any bull Currencies to tradeit with ......

GBP has had a very strong London opening so far

N

 

[NVP]

heres the form so far

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1716.html#post2666506

 

[NVP]

games games games

I would step back but only have a few mins left to trade ..........it will be easier to play usd outside of those breach lines later .....................

N

 

[NVP]

just going to play the 8am bar .......

 

[NVP]

going to focus on buying usd into fading Europeans if possible

 

[NVP]

taken ...............

 

[NVP]

taken ...............

rolling

 

[NVP]

jees the usd can be a SOB sometimes...................last few mins leaves me around B/e on a few trades ...............it hasn committed to bull move yet has it ?

N

 

[NVP]

ok guys see you all later - got to make some calls

I called the USD direction correctly re 8am bar but sometimes its hard to see what G7 currencies are going to go opposite the the usd move............I am focussing on Europeans fading but nowhere near as many pips as I was hoping for so far

welcome to trading.........

see you later
N

 

[NVP]

ok getting better for me to tidy up and close out

cheers all ..............calling them live and load here on F's thread

N

 

[Forexmospherian]

10 45 am

Back now for 30 mins before I have to leave again on another appointment

All the action basically started after 8 00 am - 8 09 - 8 21 am etc

The dollar strength tap was turned on - resulting in the UChf / UCad / UJ - rising and similar the EU / GU / AU - etc started falling .

You always need to know your LiTs areas on pairs to assist for session

On the GU - I had commented before 7 15 am above 5102/3 and 05 it was bullish

Unfortunately - we could not progress above 5115 and then once we dropped under 5100 - we were back in a bear bias session that as remained for well over 2 hrs with price so far dropping over 45 pips

I was not around to take advantage of a lot of these moves - so still not made my daily pip target of 50 pips.

Its no worry as I have if I needed over 3 hrs this afternoon to find another 20+ pips if need be - but i am sure I will not need all that time

 

[Forexmospherian]

EA

10 50 am

Would like to scalp sell it again off this bounce if it stays under 4810

The bounce was a scalp buy at 10 45 am at 4793/4 - but had not taken it atm

We would need over 4810 and 14 to stay with any scalp buys

 

[Forexmospherian]

We always need to be wary of any interim lows - ie EA at 4791/2 - as if they last over 30+ mins with no breach we know then bias might be changing.

It can then take another 20 -30 mins to breach the low - but every 30 mins it stays above the level ( low or high) means it getting stronger for a reversal

 

[Forexmospherian]

EA

10 50 am

Would like to scalp sell it again off this bounce if it stays under 4810

The bounce was a scalp buy at 10 45 am at 4793/4 - but had not taken it atm

We would need over 4810 and 14 to stay with any scalp buys

11 12pm

Out again in next 10 mins or so - but price did not stay under 4810 and so far made 4812

I got a scalp buy from the HL at 4802 and now we will go over 30 mins with no low breach of 91/92

If I hade taken the scalp buy at 4792/3 i would have at another 7 pips in the bag on top of the 8 pips so far.

Clues now are 4800 and 4802

Pullbacks need to stay above there to test 4815/20 area

I would still look at a sell under 22 /25 or 30 - but i will not be here for that and now if the low lasts over 1 hr from 10 45 am then we are back in a range again

GL

 

[Forexmospherian]

EA - update for 1 00 pm

EA

10 50 am

Would like to scalp sell it again off this bounce if it stays under 4810

The bounce was a scalp buy at 10 45 am at 4793/4 - but had not taken it atm

We would need over 4810 and 14 to stay with any scalp buys

We always need to be wary of any interim lows - ie EA at 4791/2 - as if they last over 30+ mins with no breach we know then bias might be changing.

It can then take another 20 -30 mins to breach the low - but every 30 mins it stays above the level ( low or high) means it getting stronger for a reversal

EA

So that low of 4791/2 held and met the criteria

I mentioned before that we needed over 4810 and 14 to stay with any scalp buys you had taken

I missed the first scalp buy at 4792/3 did not enter to HL at 4802

I then entered again at 4820 on a pullback after taking 70% off at it try up first time and left 30% on which I added to on last scalp

Total stake from 4820 - 130% size

Now we have just made 4859 as I type and will leave 30% stake on above 35

Thats it target done for day - but look forward to a few more scalps after lunch

Hope you all grabbed some pips off the EA - its a great pair I find


See you in a bit


F

 

[Forexmospherian]

EA - 3 Hours of Bull Bias and a 75 pip rise

EA

I am posting my 1 min LR chart assisted by time rules - key times and trendlines and of course not forgetting key price levels

For me 4802 - 4810 then 14/15 formed the actual scalp LiTs area - ok 12 -13 pip range - too large normally for a scalp LiTs - ideally they need to be just 3 to 7 pips apart.

But after 11 00 am and once we went both over 4810 and over 30+ mins with no breach of low - i just focused on scalp buys

Its worked and even though I missed the first scalp opportuntity - as at that time I wanted to scalp sell under 4810 - I know afterwards it favoured the full turn

I have just moved my last30% stake stop in profit up to 4846 after at 4870 high

I was late starting to buy at 4802 - ideally I should have got in from 93 to 97 area - but thats a minor issue now as the move as been worth well over 50 pips for me and some of those pips were on 130% stake size - making it even better.

Here's the chart

A great example of a complete intraday turn resulting in many early sellers /bears getting stopped out over 4830 or 50 - ( hopefully they got there early stops in profit in )