A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

Good afternoon...
today EU is being the worst pair for me to trade.

Hi Sun

The market and the market makers are well aware that the EU is the most traded FX pair - mainly because its an important pair with a very low spread etc

Its movements are not that vicious compared to many larger moving pairs and so it encourages more newbie FX traders to trade it.

With this happening along with the amount of money going through the EU - its normally the most manipulated currency pair - and so its movements will catch out maybe 95% of all traders at times.

Today as been a classic intraday set up - its been bullish for early AM then dropped under a support to get bears in - and then basically fried them - by slowly turning back up.

By moving like this - it shakes out all weak bulls early on - and then weak bears who had stops at 0900 area.

When its in BTTZ areas - just wait or move to better pairs - ie UCad - GU - EJ etc

Never major on just one pair - ideally you scan 3 to 6 pairs and cherry pick the best movers for each hour you are trading

Hope this helps Sun

See you tomorrows


Regards


F

 

[NVP]

is that a suzuki?

no its me in sunglasses 😆

 

[Forexmospherian]

Tuesday 22nd Decemeber 2015 - Pre Opens -

Good Morning FX Intraday Traders

Slow starts on scalping - ie 6 09 am and 6 21 am - movements on all pairs - small and slow atm on EU and EJ - and EA - not bothered with so far - even though its very bearish under 5135 area.

Was hoping to trade a few hours this morning and we even have some red news at 1 30 pm so looking forward to some movements worth scalping.

Will also check out a few other pairs - all comments on FX including charts etc welcome - I am up now at 6 pips on my EU scalp - and that's taken over 30 mins - hardly a big mover today lol

Have a good day
#

Regards


F

 

[Forexmospherian]

EU

6 50am

In a range from approx. 0905 to 0940 - and still in a bullish PS above 0885 area

Its been a buy from approx. 6 09 am and 0908 area with first R's at 18 to 22

If we do make over 25 - then we have more R at 0930 to 40 area with first supports at 0910 to 14

 

[Forexmospherian]

GU

7 00 am

Still in a bearish PS under 4935/40 with first supports at 4865 to approx 4877

After 6 50 am was a scalp sell - but movements so slow - ie only 3 pips in 10 mins - lets hope this hour picks up

 

[Forexmospherian]

EU

6 50am

In a range from approx. 0905 to 0940 - and still in a bullish PS above 0885 area

Its been a buy from approx. 6 09 am and 0908 area with first R's at 18 to 22

If we do make over 25 - then we have more R at 0930 to 40 area with first supports at 0910 to 14

After 6 50/51 am on the EU was a better scalp sell than the 3 pip move of the GU

EU moved 8 pips in approx 10 mins - not bad when even the EA struggles to cover 10 pips in same time

 

[Forexmospherian]

We did have the opposite moves at the EO - with GU then bouncing back up - whilst euro crosses stayed bearish. Did not catch GU scalp buy - but it certainly was quicker than its scalp sell 10 mins earlier and so far its moved up 9 pips in 8 mins - that's a bit better

 

[Forexmospherian]

7 12 am

new lows in last few hrs on the euro crosses now - amazing how an Open can make a difference all within a few mins

 

[Forexmospherian]

7 28am

So far this morning for me its just scalping - mainly EU / EJ / EA - left GU alone atm

I am around for the London Open hour so back just before 8 00am

Average scalp gain is only 5 pips net atm with EU obviously a smaller mover than EJ and EA

 

[sun11]

Good Morning F,

I think today EA was in a good move during Asian session.

I'm selling UJ, targeting around 121.07. Will it be nice?

Regards

 

[Forexmospherian]

Good Morning FX Intraday Traders

---------------------------------------------------

Slow starts on scalping - ie 6 09 am and 6 21 am - movements on all pairs - small and slow atm on EU and EJ - and EA - not bothered with so far - even though its very bearish under 5135 area.

----------------------

EA

Pre EO had not bothered with this pair but knew it was bearish under 5135 - it was a case then of finding its next lower level

That was at 5113/14 area - tested twice and in both cases it started scalp sells off

The last one from 7 28 am as now dropped just over 30 pips

Made the last hr all worthwhile

👍

 

[sun11]

Good Morning F,

I think today EA was in a good move during Asian session.

I'm selling UJ, targeting around 121.07. Will it be nice?

Regards

Made 7 pips..closed at 121.09. 2 pips early.

 

[Forexmospherian]

EA - Bearish under 5135 and 5114

EA

1 Min LR Chart - with LR price structure set up with traffic light configuration and levels all saying below there bearish

 

[Forexmospherian]

Made 7 pips..closed at 121.09. 2 pips early.

Morning Sun

WD - yes have the UJ bearish under 121 24/25 area with supports from 12105 to 10 area

Take it easy and have a good session

👍

Regards


F

 

[Forexmospherian]

EA

8 11 am

Any candle expert would have liked the 8 01 am candle as another clue of another fall from 5091

So far in last 10 mins its dropped now 18 pips

 

[Forexmospherian]

EJ

8 15 am

Not quite so nice a set up as the EA - but still bearish from after both Opens

This last 8 00 am Open as now seen it form another morning low and a fall of 16 pips in under 13 mins

 

[Forexmospherian]

Might be worth watching time rules now from 8 10 am to see if any of the latest lows are breached in under 30 mins or not

 

[NVP]

morning all

actually managed to get some scalping in this morning

ok usd about to bounce north .......will resell the Europeans

 

[NVP]

4896ish///////// GU looking best bet ..wait

 

[NVP]

usd hasn't turned into support............no trades 👎

will take a look at if usd confirms sells