A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

9 07 / 08 am on GU tick chart at 4362 was the sell SUn

Would you have spotted it etc ?

 

[Forexmospherian]

Ok - sorry to hear you have not got a tick chart - its no worry - but it would sharpen you up and help you make better entries when you get used to it etc

On a 1 mins its not quite so quick and you can lose say 20 to 60 secs of movements etc

 

[Forexmospherian]

See what I worry about is your entries on scalps

ie you would probably sell at 55 or 52 - and then its too late and you have missed out on 5 -7 pips of profit that is so important

Timimg is crucial and critical for success

You dont have to do 20+ scalps a session - when you get entries spot on - you will only need to make 5 -12 scalps and you will get easy your daily targets

But I dont want you chasing 2 pips - ideally 7 -20 pips will be your targets and then you can get to PPND later on in your development

 

[Forexmospherian]

I am staying with GU atm Sun - because this is a pair you wanted to focus on

ideally 4362 area was the sell - and 50 / 51 the scalp buy

If you cannot get within 2 or 3 pips of those prices - just miss scalps as its too tight

Would those prices make sense to you and can you see the clue to take them ???

 

[sun11]

Yes i got your point. I will share what happened on my thread later.
I did miss the sell & when I sold I was too late.
Then when bought it was late too.

 

[Forexmospherian]

I am staying with GU atm Sun - because this is a pair you wanted to focus on

ideally 4362 area was the sell - and 50 / 51 the scalp buy

If you cannot get within 2 or 3 pips of those prices - just miss scalps as its too tight

Would those prices make sense to you and can you see the clue to take them ???

The 1min in scalp mode with arrows on scalps

 

[sun11]

Do you still think 50 is a scalp buy? Its not holding stronger.

 

[Forexmospherian]

Will update my GU scalp chart in a bit

Price now under 50 after last scalp sell at 58

 

[Forexmospherian]

Do you still think 50 is a scalp buy? Its not holding stronger.

We went under then Sun to 44/45

whilst we stay under 55 its still a sell

 

[Forexmospherian]

44 low and we need to stay under 51 now to stay in scalp sell mode

 

[Forexmospherian]

No under 43 and 41 and you would exit sells

 

[sun11]

I have sell trade from 44. Targeting 4432. But again...lets see not sure.

 

[Forexmospherian]

4340 now

It is easier on a tick chart but if you sold at 58 or 57 or 56 - then you are not so bothered as 15 pips of profit +

 

[sun11]

Missed your post, saw now. Ok closed my sell trade 1 pips profit.

 

[Forexmospherian]

I have sell trade from 44. Targeting 4432. But again...lets see not sure.

its not a trade I would encourage you to take

For this scalp - you needed 58 to 55 to enter sells

Only sell again if movements were strong - and they are not strong - and so far 40 is holding

 

[Forexmospherian]

On tick chart 41 / 2 is a scalp buy Sun

See 44 is just too late - if you were on a tick you might have got out with plus 1 - but we need to speed your PA reading up a lot faster

 

[Forexmospherian]

Sorry to have to say Sun - but I can see what you are doing wrong all the while on scalping

Need to refocus you and change your reading of PA and LR's etc

 

[sun11]

its not a trade I would encourage you to take

For this scalp - you needed 58 to 55 to enter sells

Only sell again if movements were strong - and they are not strong - and so far 40 is holding

Ok So far what i am seeing on my 1min chart, that its standing on the lits zone. Gu has fallen too far. Do you think it will fall more ?

 

[sun11]

in 10 mins Euro news is coming.

 

[Forexmospherian]

I will post my 1 min chart again on the GU in a bit Sun

How are you reading it now ??