A Master Class in FX Intraday Trading by F & Co

[MajorMagnuM]

pleased With these last entries as i left the house!

 

[MajorMagnuM]

some reading of price.Here is a chart that i published earlier.
I have adjusted the green dynamic trendline.
My narrative at the time, which caused me to miss the long above the thick redline was as follows.
the first green circled high was a fail to reach dynamic green line that held since the previouis high. the next cicled high to me was then a fail to reach the previous high which was in itself a fail to break res. I then expected to short it below the red line. luckily i was waiting for trendline below to go so i remained neutral. the test i though that had not happened then happened at 2.26ish. 35 mins later more of the picture was available and the inability for price to get back above 7242 ny 3.00pm gave us more info ( i was not at the monitors at this point.
what is interesteing is that price played out as per method. What i would like to know , was there any vailidy in thinking it may be a short at 13:30 or was that just bad thinking?
attached also current rems

 

[MajorMagnuM]

F did you notice the r/r on those ga and au trades?

 

[Forexmospherian]

Hi MM

Just back for 15 mins then out of early tea and back later

Need to see chart ?

Mega Pip day again - You made it on the GA - I made it on the EA / EU / GU

The pound became very bullish again after 3 pm this afternoon and also the Euro decided to drift back up after a 50+ pip pullback

I think today - the ideal scenario would have been the Pound crosses ( GA / GJ / GU ) along with the Euro crosses - but just did not like the EJ today at all- the yen strength out trumped Pound and Euro strength - and of course the Dollar was weak with the Uchf and UJ falling - but the UCad odd one out

Look forward to seeing your set ups and will post mine on GU / EU / EA again later


Regards


F

 

[Forexmospherian]

F did you notice the r/r on those ga and au trades?

Got to admit no - but please tell me ??

 

[Forexmospherian]

some reading of price.Here is a chart that i published earlier.
I have adjusted the green dynamic trendline.
My narrative at the time, which caused me to miss the long above the thick redline was as follows.
the first green circled high was a fail to reach dynamic green line that held since the previouis high. the next cicled high to me was then a fail to reach the previous high which was in itself a fail to break res. I then expected to short it below the red line. luckily i was waiting for trendline below to go so i remained neutral. the test i though that had not happened then happened at 2.26ish. 35 mins later more of the picture was available and the inability for price to get back above 7242 ny 3.00pm gave us more info ( i was not at the monitors at this point.
what is interesteing is that price played out as per method. What i would like to know , was there any vailidy in thinking it may be a short at 13:30 or was that just bad thinking?
attached also current rems

I like your purple line as a median or LiTS line

Need to study your AU chart more when I come back

 

[MajorMagnuM]

well GA i use a ten pip hard stop so r/r of 18 on ga.
au was a stop of 5 pips but it only needed two pips wotrh of space.
Sorry which chart did you want me to show

 

[Forexmospherian]

3 of my FX Pairs Today

Missed out today with the GA and maybe even the Yen crosses - but was very happy with the bullish bias set up's on the EU / EA and GU today

I got some scalps in both ways - but you can guess in which directions I left my partial stake trades on - even mentioned before the Opens the set ups - and the LiTs areas confirmed - so all went to plan


EA - 1 Min LR Chart

EU - 1 Min LR Chart

GU - 1 Min LR Chart

 

[MajorMagnuM]

sudden action on ga au

 

[Oscar Reed]

Evening F

Bit of a non trading question.

Do think the US will raise rates next week.

Morning from this part of the World
Oscar

 

[Forexmospherian]

Evening F

Bit of a non trading question.

Do think the US will raise rates next week.

Morning from this part of the World
Oscar

Hi Oscar

Personally - NO - I think they will put it back another 4 -6 months - or if they do - not start it immediately etc - the US is not in a strong enough position to do it atm - but then again we do have the Elections as well next year - and so Politics etc and so many other factors come into it

I appreciate - the odds atm favour the rise according to the bookies and a lot of the financial press - but remember this business is just full of misinformation and deceit etc etc - you cannot trust the Fed with a barge pole ( lol)

I will just be ready for either action - but would not plan to put big money on a rise beforehand - thats gambling - we don't need to gamble - just follow the action as it happens is normally good enough for me

Good Luck with what ever way you go etc


Regards


F

 

[MajorMagnuM]

got a nice add on there , but dont know if can go the distance at this time of night.

 

[Forexmospherian]

got a nice add on there , but dont know if can go the distance at this time of night.

I am just having a quick look in between the Footie and the Apprentice - starting in 6 mins or so - 1060 -75 might be the test as a LH

GL with what ever you do - just make sure you have your stops in some nice profits - but then again - you already have

 

[MajorMagnuM]

took some profit as surely spreads will kill all at 10.oopm

 

[MajorMagnuM]

heck forgot about apprentice. ty for the heads up

 

[MajorMagnuM]

this guy definitely models himself on early george cole.

 

[MajorMagnuM]

Oh dear.

 

[MajorMagnuM]

im halfway thru and seen two pitches from the rejuvenate team. i was actually covering my face flinching through both

 

[Forexmospherian]

Thursday 10th December 2015 - Pre Opens

Morning Guys

We had Aussie and Kiwi red news overnight and this morning we have both Swiss and UK Pound news releases and then US Dollar at 1 30 pm lunchtime.

The news overnight resulted in the Aussie Dollar strengthening again and the GA and EA seeing larger price pullbacks ( falls) - ie over 200+ pips on the EA.

Talking of the EA - I was able to scalp buy just before 6 00 am ( was not about for 5 51am ) and so far its just gone up approx 22 pips

Whilst that was going on - the EU was also a scalp buy ( in a bear bias PS ) but that's just moved approx 5 pips - shows the difference and why you need to trade the movers rather than the norm. OK my EU spread was over 5 times cheaper - but the extra 1.6 pips on the EA is easily covered by the additional 16 / 17 pips I banked - it really does make sense ;-)

Interesting the EA even after its large fall last night as found some supports atm- whilst the EU is bearish under 1020 and still looks as it might test lower.

Only about for an hr or so then back after 8 45 am this morning

Have a good day and please feel free to contribute with calls and charts etc etc - as well as any questions / queries


Regards


F

 

[Forexmospherian]

GA

6 35 am

I have always been more wary of the Pound crosses than the Euro crosses - as the pound itself can be very volatile leading to even the GU have quick large moves.

Both the GJ and the GA are beasts - not recommended for new scalpers etc - but when the PA is nice - they are worth trading

So far from 5 51 am the GA as moved up approx 50 pips - yes 50 pips in just over 35 mins. My spread and commission work out at approx 3 pips ( more than the EA ) - BUT - so what when from 6 20 / 21 am we have a clean 16 pip move up in 7 mins.

I went with the EA scalp buy from 6 00 am and not the GA - but when they are in sync - I would be better trading both simultaneously - similar to how normally I would do the same on the EU and EJ.

I will try and take some more scalps on this pair during the day to get more used to it