A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

11 16am

Slow all around atm

Notice beside red news announcements over lunchtime and 3 pm also FOMC minutes at 7 00 pm tonight

I can understand therefore a long boring lull period atm - its a long day

Still enough movements to take scalps - but unless it purely for practice - then I just don't take them all for the sake of taking them - would prefer to wait to breach out of ranges etc

 

[Forexmospherian]

EU - Update at 11 30 am UK

Question for Sun on EU

its made 0720 - would you have scalp bought after 7 51 am at say 0722 area

If not - why not ??

Over three and half hrs later - and 0720 as still held

Was not able to get away leaving a partial buy stake on from after 7 51 am as it teased down over 90 mins later - but then of next buys - it easy to leave a partial on

So far we have only made 0746 and 0750 and 60 are both R areas

Price structure is still bearish - but when we get next pullbacks if we can stay above 0730 then we can look at more buys and maybe we will then get a price structure bias change later on and tries above 0760

If on pullbacks 0730 and 20 let go next supports around the big number at 0700

For now its still a scalp buy - but whether that changes out of TW or before Midday - still to early to know

 

[Forexmospherian]

GA - Midday Update

GA

So far it topped at 0750 - it was a R area as well

Check out my 1 min LR chart with a TL

A classic example for dbp and drawing a straight line

When it lines up with a key time - even better

Since then a 40 pip fall

 

[Forexmospherian]

EU - Update after Midday

Over three and half hrs later - and 0720 as still held

Was not able to get away leaving a partial buy stake on from after 7 51 am as it teased down over 90 mins later - but then of next buys - it easy to leave a partial on

So far we have only made 0746 and 0750 and 60 are both R areas

Price structure is still bearish - but when we get next pullbacks if we can stay above 0730 then we can look at more buys and maybe we will then get a price structure bias change later on and tries above 0760

If on pullbacks 0730 and 20 let go next supports around the big number at 0700

For now its still a scalp buy - but whether that changes out of TW or before Midday - still to early to know

EU

Approx 30 mins from above comments

So far scalp buy above 45 as made 0757 and still rising

As mentioned - 0760 area is a R

 

[Forexmospherian]

EU

Approx 30 mins from above comments

So far scalp buy above 45 as made 0757 and still rising

As mentioned - 0760 area is a R

EU

1 19 PM

0760 was the R and the barrier to stop more rises atm

Its was a scalp sell after 12 20 and 12 50pm and so far the pullbacks have been to 0740

I need it to stay over 0730 / 35 to look at buying again - and for now its staying above this level

Updated chart from 5 mins ago

 

[Forexmospherian]

EU

1 23pm

The move under 0730 was a manipulated false spike down to take out weak bulls

When we get action like that its normally a news release and of course there was one at 1 15 pm today - unusual time

 

[Forexmospherian]

1 30 PM

US and Cad dollar news now

Not bothered trading UCad today so not checked it out

Dollar trying to be bullish - but not much news effect atm - another 10 pip pullback on EU for now

 

[sun11]

Good afternoon,

7 pips on EJ, now testing the interim high. If rises then 127.58-50 zone can be a resistance. Lets see.

 

[Forexmospherian]

Good afternoon,

7 pips on EJ, now testing the interim high. If rises then 127.58-50 zone can be a resistance. Lets see.

Hi Sun

EJ

127 20 to 30 is all interim support now - so pullbacks should stay above there

I have 127 55 to 65 as main R area and so unless we get a clear breach over say 68 and 72 then will look for scalp sells on pullbacks etc

GL Sun

 

[Forexmospherian]

Just out of interest - could I check your EJ chart on 1 min over last 8 hrs up to now ?

Thanks Sun

 

[sun11]

Just out of interest - could I check your EJ chart on 1 min over last 8 hrs up to now ?

Thanks Sun

Sure....


As it 8 hours..so zoomed out ...

 

[sun11]

Good afternoon,

7 pips on EJ, now testing the interim high. If rises then 127.58-50 zone can be a resistance. Lets see.

Good, it really fallen for 6-7 pips..Now testing old top.

 

[Forexmospherian]

Sure....
View attachment 212164

As it 8 hours..so zoomed out ...

Thanks Sun

Its OK - but I am wondering if you are missing out as mine is so difference in regards to the medium and longer term LR's

Will post mine in a bit for you to compare etc

 

[sun11]

Thanks Sun

Its OK - but I am wondering if you are missing out as mine is so difference in regards to the medium and longer term LR's

Will post mine in a bit for you to compare etc

Yes thanks that will be better.

Looking at the UCAD, Failure swing low. Head & Shoulder.

 

[sun11]

Yes thanks that will be better.

Looking at the UCAD, Failure swing low. Head & Shoulder.

Yes that was a good call too. Made 8 pips.

 

[Forexmospherian]

Sure....
View attachment 212164

As it 8 hours..so zoomed out ...

ok Sun

This is yours

This is mine

Still worried that they are not the same

They might be for scalps - but not for bias and swing trades etc

 

[Forexmospherian]

Yes that was a good call too. Made 8 pips.

WD then Sun

👍

 

[Forexmospherian]

GA

So far it topped at 0750 - it was a R area as well

Check out my 1 min LR chart with a TL

A classic example for dbp and drawing a straight line

When it lines up with a key time - even better

Since then a 40 pip fall

GA

Update prior to 3 00 pm news

150+ pips up from LO

Nearly 100 pip drop after 11 20 pm -

 

[sun11]

Still worried that they are not the same

They might be for scalps - but not for bias and swing trades etc

Agreed longer LR is missing from my chart. In fact its staying in another place below the price structure.

About the Green & Yellow LR in your chart is your extra LR, which you haven't told me to use..I guess you have 11 LRs in your chart.

I did the matching job & got LR 6500 matched with the chart during that time.

 

[sun11]

GA

But LR 2300 matched with your longer LR on GA chart.

It seems it works differently on 3 digits & 5 digits pairs..I will take look into these.