A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

My Live Trade in advance for this morning on the EU

EU

1 Min LR Chart over a longer time window to show set up for Sun

I had said prior to 7 00 am its bullish above 0790 and 0800 - under there and 0780 it goes bearish PS

On this chart I have more supports at 0770/75 area marked with line

Can it hold and try up again

Too early to say atm

I posted the above chart and comment at 8 06 am

If you notice - I drew a horizontal support line at 0773 and said - supports were 0770 /75

This then lined up at 8 24 am and 8 30 am - over 20 mins from my comment - it was a scalp buy

Entry should have been in the 0770 / 75 area anything up to 78 was OK - 80 was too late as it pulled back then 5+ pips - but stayed above 0772/3

From 8 30 am onwards to 9 30 am - 1 hr we had a rise

Stop size should have been 3 to 5 pips - if you needed 7 pips or 9 pips - too big

In the hour - the EU moved up approx. 98 pips

I reckon you should have got anything from 50 to 80+ pips

Lets say just 60 pips - then RR could have been as high as 20 - certainly over 15

With me - I left a partial stake on after 0800 and then added after 0832

My partails ( 2 now ) are still active but we know 0870 to 0880 is a R area anyway

Heres the after chart

Notice the arrow position - printed 20 mins prior to the move

If we had gone under 0770 - then I would have watch the movements next 12 - 15 mins and also would have noted change in bias on other euro crosses

Its well worth risking 3 or 5 pips to make 50- 90 pips

With me my scalp was at 0 5 % stake size of account and partials at 0 2%

Total account gain 6% + partials at total 2.6% - total 8 6% gain off 1 trade lasting 1 hr

 

[MajorMagnuM]

closed 70% of nq swing trade

 

[Forexmospherian]

closed 70% of nq swing trade

WD MM

Nice one - saw you were trading it last night

Its been a cracking morning - again

I hope its been kind to you

Have a good day

Regards

F

 

[Forexmospherian]

EA - Morning session up to approx 11 00 am

EA

6 43am

180 pip rise over the Asian session - In a bullish PS above 5300 and so far been up to 5404 area

First supports at 5360/ 70 area and price currently in mid 80's after va scalp sell set up from 92 at 6 39 am

EA

6 59am

The sell started at a key time of 6 39am

I only commented at 6 43 am - so 4 mins after I was in at 92

Now 16 minutess later from comment its made me 39 pips

👍

Brilliant ;-)

EA

7 44am

1 min LR chart set up

I initially got in at 92 - and exited first - (excitedly with 39 pips ) - still then entered again at 7 20/21 am

What a great way to start a trading day - even before the London Open

EA

11 15 am

Not been updating this pair

It made a 120 + pip fall and then after 8 39 am and over 30 mins plus of low holding - it joined up with EU in a move back up

Once over the down trendline on 1 min chart - we had so many clues - it was really then a very easy trade

So far its gone back up 220 + pips

Cannot claim to have got them all - because I did not but this morning as been a real large pip day - although I will say its caught me out as not fully focused with my excuse being got the start of a cold ;-(

Heres updated chart

 

[PipsterPipstoffelees]

is it just me or are the trading gods smiling today? the Euro pairs are a pretty easy uptrend at the moment, huh? if only it was like this everyday

 

[Forexmospherian]

is it just me or are the trading gods smiling today? the Euro pairs are a pretty easy uptrend at the moment, huh? if only it was like this everyday

Hi PP

Agree - its too easy today - but maybe only for us and our method

I am sure there are swing traders who have been taken out of sells from yesterday and of course bulls taken out of previous buys - before it starting going up again in earnest

Maybe every month out of approx. 20 trading days - there will be 1 to 3 really easy session - maybe only 3 to 6 average to goo and of course anything from 7 to 12 days when its not so easy and the market is up to its tricks and catching all traders out

Those are the days you cannot take for granted and full focus is needed

For all we know - it might all change next for the US session ?


Regards


F

 

[PipsterPipstoffelees]

I have a question please, about the time windows. Today I have seen many trades, a couple just now the AU and the EA, trend line bounces, LR looking good, SR looks good, but they are outside the TW, so I have left them alone.

Actually I did take one a bit earlier outside the TW because it was too tempting, paid off though.

So, I was wondering if we should obey the TW and not trade, even if all other signals say "jump on it"?

 

[MajorMagnuM]

show me these possible trades and i can offer a hindsight opinion

 

[MajorMagnuM]

klw, re an ancient discussion we had, check my trade today

 

[NVP]

morning all ..............havnt really traded today much .............but another cracking morning of volatility that always generates pips

the London session stars have been Euro and JPY .......both delivered bull runs of up to 60 pips from 6am

the only Real bear was big bad sterling..........its at over 100 pips down now from 6am and I wish I had taken it a few mins back..........Grrrrrrrrr

AUD has sold steadily 40 pips bear

usd mainly net bull today London......but has swung at times nicely

N

 

[Forexmospherian]

I have a question please, about the time windows. Today I have seen many trades, a couple just now the AU and the EA, trend line bounces, LR looking good, SR looks good, but they are outside the TW, so I have left them alone.

Actually I did take one a bit earlier outside the TW because it was too tempting, paid off though.

So, I was wondering if we should obey the TW and not trade, even if all other signals say "jump on it"?

Maybe 80 -85% of my trades start in a time window and probably less then 50% exactly on one of the 6 key times in the hour

I have found quarter past and quarter too the hour is used some session - but it all depends how many clues there are - the more the merrier really - but don't let it put you off a scalp if all the other clues are saying take a scalp and its 3 or 5 mins out of a TW.

Regards

F

 

[PipsterPipstoffelees]

show me these possible trades and i can offer a hindsight opinion

11:46 on the EA and AU, might have made a few pips?

but generally speaking, is TW a rule to be obeyed regardless, or do we treat it as an extra piece of confirmation alongside other rules that carry equal weight?

just when I see 9LRs crossing price @ 11:46 for example, its temping

 

[Forexmospherian]

12 17 pm

We have 2 red news releases at 1 30 pm on US and Cad dollar

Also noticed and its not marked a George Osborne speech starting at 2 40 pm

Whether that might effect the Pound crosses - I don't know - but be aware of it

Ok see you later

 

[Forexmospherian]

11:46 on the EA and AU, might have made a few pips?

but generally speaking, is TW a rule to be obeyed regardless, or do we treat it as an extra piece of confirmation alongside other rules that carry equal weight?

just when I see 9LRs crossing price @ 11:46 for example, its temping

Which Pair PP - see with the set ups all being different to the inaccuracy of broker charts and indicators - it might not be the same on say mine or MM's set up ?

 

[PipsterPipstoffelees]

Well, can I just ask as a general question rather than any specific pair? Is it deemed OK to trade if everything is lined up giving a green light, but is outside a TW?

 

[Forexmospherian]

Well, can I just ask as a general question rather than any specific pair? Is it deemed OK to trade if everything is lined up giving a green light, but is outside a TW?

U

Hi PP

In terms of probability - like the EU buy trade this morning after 8 30am - if we have all the clues - then probability maybe of 85% for a move over 5 or more pips in the direction you see as the start of a new scalp

If you bought out of TW - but still had 3 or more other clues - ie TL's / LR's - interim S & R level - PA change / candle confirmation - etc - then maybe that's a 70% probability of a trade making over 5 + pips or more

If you enter any trade with just one or two clues - then probability drops to maybe 55 -60%

Hope that's a guide to how I would operate etc

News in approx. 10 mins


Regards


F

 

[PipsterPipstoffelees]

understood, thanks for clarification mr F

 

[Forexmospherian]

1 32 pm

Cad gained strength to pull Ucad price down by 15 + pips ( that news was at 1 25 pm not 1 30 pm ) and EU hardly moved - so not much US Dollar effect atm

 

[Forexmospherian]

Back now after 2 30 pm

If not here for then would be trading in the 3 00 pm hour window

See you in a bit

 

[NickBk]

Tried posting but had issue with screenshots and editing info.
Not the worst start to a year.
It's about an hour old now and 2.5% more and no losers since -))

Longs Won: (83/96) 86%
Shorts Won: (52/61) 85%

Today +44.45%
This Week +84.83%
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This Year +84.83% ( - )