A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

Mostly Interested to buy EU above 860.

Good example on time rules here Sun

Ideally needs after 7 00 am to breach the 0860/65 area - and then remember up to 85 its all a R area

 

[Forexmospherian]

EU

6 57am

The immediate range is from area 0845/8 to 0862/5 - less than 20 pips

Hopefully the action starts in a few mins on the EU

 

[sun11]

Yes can see your LiTs areas etc - they will help you with the ongoing moves - but also remember we will need clear breaches of those prices - not just 1 to 3 pips etc - as then they can be false

I have couple of questions about this break or say breaching...From the beginning I am confused how to trade break out perfectly.

If its not 1 to 3 pips then how much is the perfect one?

If in a sudden move market goes 10-15 pips & I haven't taken that (waiting)..
Then what to do...wait for a pull back to Re Enter position...?

Regards
Have a nice day you too.

 

[Forexmospherian]

EA and GA stand out this last hour - only traded EA though

 

[NVP]

Asian session was a little flat for usd but elsewhere we had some volatility

AUD dumped some 40 pips against most other currencies
euro and Yen tag teamed north for solid gains up to 30 pips

usd now midrange on this spread from asian openings ...........bloody difficult to tease anything out of the frame .................

F must be playing E/A buys

N

 

[Forexmospherian]

I have couple of questions about this break or say breaching...From the beginning I am confused how to trade break out perfectly.

If its not 1 to 3 pips then how much is the perfect one?

If in a sudden move market goes 10-15 pips & I haven't taken that (waiting)..
Then what to do...wait for a pull back to Re Enter position...?

Regards
Have a nice day you too.

Ideally - you go with moves way before the breach - ie 3-10 pips beforehand and then be aware if they stop just 1 to 3 pips above the key area - you then take part profits

Its another skill to learn - and its one of the hardest - as every breakout is different depending on dynamic and static S & R's

 

[NVP]

I have couple of questions about this break or say breaching...From the beginning I am confused how to trade break out perfectly.

If its not 1 to 3 pips then how much is the perfect one?

If in a sudden move market goes 10-15 pips & I haven't taken that (waiting)..
Then what to do...wait for a pull back to Re Enter position...?

Regards
Have a nice day you too.

congratulations S ....you have just encapsulated the REAL 64,000 dollar question that all scalpers have to answer to become profitable :smart:

 

[sun11]

Good example on time rules here Sun

Ideally needs after 7 00 am to breach the 0860/65 area - and then remember up to 85 its all a R area

How accurate you are ....breakout..taken this buy trade...sl around 57

 

[Forexmospherian]

Asian session was a little flat for usd but elsewhere we had some volatility

AUD dumped some 40 pips against most other currencies
euro and Yen tag teamed north for solid gains up to 30 pips

usd now midrange on this spread from asian openings ...........bloody difficult to tease anything out of the frame .................

F must be playing E/A buys

N

Morning N

EA - spot on

Sells early on and then EU and EA scalp buys

Have a good day

Regards


F

 

[NVP]

Ideally - you go with moves way before the breach - ie 3-10 pips beforehand and then be aware if they stop just 1 to 3 pips above the key area - you then take part profits

Its another skill to learn - and its one of the hardest - as every breakout is different depending on dynamic and static S & R's

ooo yeah...............its bloody difficult ...........I use currency indexes to give me a heads up on the moves ............

you have to understand price behaviour around/near key areas ..........it takes practice ..........and I suppose in truth some kind of sixth sense you cant explain (that comes from experience)............the more you practice the better it gets

 

[Forexmospherian]

How accurate you are ....breakout..taken this buy trade...sl around 57

Hi Sun

Remember - like every trader - I do get it wrong at times - but thankfully - I get it right a lot lot more than wrong and normally my positive pips outweigh the negative ones etc etc

Its all down to study - disciplines - commitment in the zone - skill - and a bit of luck

 

[NVP]

for example its no use trying to guess what a pair or even a currency index is doing when its no where near a pressure area

whats a pressure area ?

dynamic S/R points , Fixed S/R points .........key Time windows ...key Fib levels ....the list is endless ...............but if the price is not really near any of these you are randomly guessing where its going

N

 

[sun11]

congratulations S ....you have just encapsulated the REAL 64,000 dollar question that all scalpers have to answer to become profitable :smart:

Morning NVP...
Yes..you are right...I need an improvement on this level.

UJ & EU how nicely negatively correlating...Though I haven't taken UJ trade. :|
Currently its touching a support..it seems...

 

[Forexmospherian]

EA

7 10 am

Its made me nearly 40 pips on one sell and one buy in approx 60 mins


EU 8 pips at 70% stake

Above 58/ 60 - still scalp bullish on pullbacks

 

[NVP]

for example its no use trying to guess what a pair or even a currency index is doing when its no where near a pressure area

whats a pressure area ?

dynamic S/R points , Fixed S/R points .........key Time windows ...key Fib levels ....the list is endless ...............but if the price is not really near any of these you are randomly guessing where its going

N

heres one on usd index ......

 

[NVP]

boing !!!!

 

[NVP]

I said I was chasing the greenback down till it hit that Support level earlier

will I buy it hard now ?

depends

N

 

[sun11]

dynamic S/R points , Fixed S/R points .........key Time windows ...key Fib levels ....the list is endless ...............but if the price is not really near any of these you are randomly guessing where its going

Truly agreed really the list is endless...About S/R levels different traders used different methods..I think i have tried all in these years...but for me...previous tops/ bottoms & trend lines is most effective or should I say traditional.

 

[Forexmospherian]

7 13 am

Plan for morning atm

Out approx 7 50 am ish

Back 8 45 am ish - cover UK pound news at 9 30am

Out 10 00 am to say 11 00 am - back for an hr or two over lunch

2 hrs or so in US session later on

That's my plan - sorry if sometimes it doe not stay the same all day - but will also depend on some many factors including the market as well ( lol)

 

[NVP]

I said I was chasing the greenback down till it hit that Support level earlier

will I buy it hard now ?

depends

N

usd bounce offers me 4-6 pip scalp on a few currencies .........now its retesting south again

do I sell it now ?

depends

N