A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

GU

7 14 am


Just noticed a nice - manipulated bounce off last low at 38

Its so obvious and the excuse will be - computer bots etc etc -

Glad i am not trading GU atm - its just shafted intraday short term bears

 

[Forexmospherian]

GA

7 19am

Keeping an eye on it - its moving nicely - PA is even OK

Far better than the GU atm and of course a lot bigger mover

So far its dropped over 50 pips and then in last 30 mins moved up 30 pips

That is a pair to trade and get used to when it like this

 

[NVP]

heres my London strategy since 6am

as already mentioned I was short on USD from 6am (actually earlier)....I was mindful of the asian range bands .......but NOTHING was going to convince me to go big bull until that point

if I had decided to be bull London on greenback the EARLIEST I would have attacked was on the Support line shown

Strategy Strategy Strategy ..............don't run around like a bull in a china shop.................that's for beginners and amateurs in this game

N

 

[sun11]

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

Means you take trade when its with in the range. For example in this EU Trade for level 60 breakout..Your ideal entry would be around 55?

 

[Forexmospherian]

EJ

7 23 am

No longer my top favourite - some days its great this morning better than EU but no comparison to EA and GA - they win hands down on movements so far

From 6 30 am its risen 15 pips

Above 133 60 area is a bullish bias PS

 

[NVP]

heres my London strategy since 6am

as already mentioned I was short on USD from 6am (actually earlier)....I was mindful of the asian range bands .......but NOTHING was going to convince me to go big bull until that point

if I had decided to be bull London on greenback the EARLIEST I would have attacked was on the Support line shown

Strategy Strategy Strategy ..............don't run around like a bull in a china shop.................that's for beginners and amateurs in this game

N

see ?

if you were selling from 6am = you are correct
if you were buying from the support bounce = tight , but still ok

Strategy ....................wait for the best areas to make calls ................................focus ruthlessly at that time for any clues to make the trade ..............in truth its much harder to walk away from a trade in a Stress area than take it ...........it takes practice ..............and will break your heart if you decide to miss the trade and then it flies ........

welcome to trading

N

 

[Forexmospherian]

Means you take trade when its with in the range. For example in this EU Trade for level 60 breakout..Your ideal entry would be around 55?

Yes 55 would have been ideal etc - but anything from 56 to 58 is OK

Waiting to say 62 or 64 - too late

Also though - sometimes at this time of the morning - try a less favourite to the masses - like the EA or EJ or a GA - their moves just make every other pair look a waste of a trade

 

[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

for me I think of it as a price band above below the key area.............you have to be sensitive to everything happening as it falls into the zone

Lance Beggs is a master at this ..he taught me a lot

acceleration in is probably the best signal .........but its an art form ..............takes years of practice .and no guarantees :smart:

 

[Forexmospherian]

For example - EU so far fell approx 7 pips net from its high

EA dropped 16 pips and EJ only 8 pips as well

That 16 pip fall is the ideal one you want - to bank 10 pips is then easy - on EU you bank maybe 3 -5 pips

 

[sun11]

A bad loss in EU 2nd buy from 62.

 

[NVP]

back to the greenback .

so if I had just opened charts the 2 thick lines are where I would now be watching for .................I will watch the behaviour as the prce approaches either

remember if I had sold at 6am I would be tightening stops to ensur we don't give away pips ABOVE the R bold line

if I had bought at the bottome I would be tight on stops if it falls south

and remember as a scalper you should have already taken the first 5 pips if they were offered leaving just a fraction on the table to lose if necessary

N

 

[Forexmospherian]

for me I think of it as a price band above below the key area.............you have to be sensitive to everything happening as it falls into the zone

Lance Beggs is a master at this ..he taught me a lot

acceleration in is probably the best signal .........but its an art form ..............takes years of practice .and no guarantees :smart:

I agree its an art form and also takes years and years to really be good at it

I add in time as well - so into 30+ min time rules on interim highs and lows - this is what Lance did not really cover

 

[NVP]

ready ?

 

[Forexmospherian]

EA

7 32 am

Just dropped 23 pips from after 7 09 am

 

[NVP]

eu will be the buy if it extends 0861

 

[NVP]

i'm banking on a correlation change ..........

 

[sun11]

From last month I am getting losses because..i was buying & selling around the Lits zone...multiple times as I try to pick a break out from those levels. Lots of trial...on those zone...
If planned for buy gone stopped out...so next is plan for sell stopped out...
next is planned for buy more lower...stopped out...etc etc..

 

[Forexmospherian]

ready ?

For me still got EU bullish - but know the time rules say it needs longer unless breached

Therefore I would expect the Swissy to carry on falling more - but I cannot enter either now until I have more clues

GL

 

[NVP]

been here a thousand times before .....if USD truly wants to Breach south the Euro will break correlation ...wait

 

[Forexmospherian]

EA

7 38 am

In a 50 pip range in a bullish PS atm

Needs over high for more buying and under 4988 and 84 for more selling

In between - just scalps - but out in 10 mins or so - so leaving alone