A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

Wednesday 3rd February 2016 - Pre Opens

Morning FX Intraday Traders

Half way through this week already and a busy news release day - starting with UK Pound at 9 30 am

Just to check - you know the 2 main time windows - 9 mins either side the hr and half hr change frame changes and you know the 6 main key times per hour that you try and line scalps up along with PA / LR's / TL's / Levels etc

Sometimes - they are a beaut - other times - anything from 10% to 40% of the time - they can be false and only lead to 1 or 3pips of movements and so don't work

But normally lined up correctly - they can work 50 to 85% of the time to give you a move of 7 - 10 - 15 - 30 even 50 pips - all within the time window gaps of 20 to 30 mins

This morning - at 6 00 am ish first thing I do is check the Euro crosses and GU and of course hope the EA lines up for a move

The EA under 5585 - 95 is in a bear bias PS - denoted by my longest LR - favouring sells

So can I sell immediately - yes - but I might need more than a 5 pip stop - as price at 40 + lower that Lits area

So - I wait

6 09 am its at a LH within 6 pips of last High - that better - I know if we make over that LH of 5566 - then its turning up more and still a scalp buy

But if it stays under 5565/6 - then it will fall again and drop and stay with LH's and try a LL again

I can risk 5 or 6 pips to go with LiTs bias ?

Yes - so I sell as LRs crossover on Tick at 5558

Thats at 6 10am and about 42 seconds

Price drops to 6 30 am - ie approx 20 mins - 31 pips

First scalp of the morning - I take 100% off for 27 pips - not bad

Now when can I scalp sell it again?

I could being a experienced scalper - scalp buy it - but for my followers I only suggest scalp selling whilst we stay in bear bias and LH's and LLs

That intraday trading in a nutshell - not easy - complex and very difficult to take in all the variables in split seconds and minutes - but when you get the skill - its a very big money earner

Work at it and get the skill

👍


Have a good day


Regards


F

 

[Forexmospherian]

6 47am

EU

Above 0935 - 40 plus - bull price structure favouring buys

Under 0905 and 0900 and 0890 - bear price structure favouring sells

Price at 0922 atm - and just wanting to catch you out

So what do you do ?

Wait - for above 0929 and 33 etc and scalp buy

OR

Under 0915 and 0909 and scalp sells - dont enter in the middle or no mans land

Also only 10 mins to EO

 

[Forexmospherian]

6 51 am

EA

hows my bear bias EA going ??

Ok nice 20 pip bounce up - but stayed under last high and under 5549 and sell - not in a TW but interim level - TL and LRs wise - it said sell

Now 6 mins later 5520 and new low at support and a bounce

More sell pips in kitty

Will it stay under 5549/50 ?

 

[Forexmospherian]

GU

6 55 am

Price at approx 4430

Above 4390 and 4400 - GU in a bull bias PS

Perfect scalp buy 6 11 am time - Missed it as was in EA sells

Opposite moves to EA atm - as I scalp sell that - GU was scalp buy

Ideally pullbacks stay above 4415 and we scalp buy again

 

[Forexmospherian]

6 51 am

EA

hows my bear bias EA going ??

Ok nice 20 pip bounce up - but stayed under last high and under 5549 and sell - not in a TW but interim level - TL and LRs wise - it said sell

Now 6 mins later 5520 and new low at support and a bounce

More sell pips in kitty

Will it stay under 5549/50 ?

EA

7 11 am

That's it - made my 50 + pips on this pair within the hour on 4 scalps

Price bouncing at 5507 area - started around 5549 and in between we have just had a bounce up of 20 pips - another fall of 27+ pips and then small bounce and last fall over 32 pips

Meanwhile EU moves what - about 15 pips in total in a dead zone - ;-)

 

[Forexmospherian]

Out this morning at 7 40 am and back trading again after 8 20 am or so

Then will be around for 9 30 Pound news and a few hrs up to US session

That's the plan - hope I can stay to it

 

[Forexmospherian]

This is for Sun and all followers of my method involving LR's and time windows - along with levels and TL's etc

The quick short Lrs are all for just scalping - ie either direction for 3 to 10 pips normally

The Price structure bias is from the 3 longest Lrs - its gives me a dynamic LiTS AREA for change from a bear or bull PS to the opposite

I am showing 2 charts from today

EU - just 2 bias PS - morning bull - afternoon bear

EJ - 3 bias areas so more interesting - shown in rectangles

EJ

7 25 am

Lets look at EJ from yesterday's chart above

Heres this morning below

 

[Forexmospherian]

Back after 8 20 am or so

See you later and Good Trading

 

[NVP]

morning all

heres where I am.....

BUYS London - CAD , GBP NZD , AUD
SELLS London - YEN , USD

others neutral as yet .......

 

[NVP]

EA

7 11 am

That's it - made my 50 + pips on this pair within the hour on 4 scalps

Price bouncing at 5507 area - started around 5549 and in between we have just had a bounce up of 20 pips - another fall of 27+ pips and then small bounce and last fall over 32 pips

Meanwhile EU moves what - about 15 pips in total in a dead zone - ;-)

Nice..........AUD has nbeen a buy for me .........Euro a little less bold than others in last 20-30 mins

but nice moves from earlier - yes 👍

N

 

[NVP]

morning all

heres where I am.....

BUYS London - CAD , GBP NZD , AUD
SELLS London - YEN , USD

others neutral as yet .......

for me - I have been working the moves above .........with usd coming south its been ok so far 👍

N

 

[NVP]

yen sells still banging away........shame the Euro and USD are not really strong enough yet to exploit it to the max ..........well u/j is ok I guess ........😉

 

[NVP]

ok early start for me today as lots of Calls to make ...........back later ....a few pips in the bag for me ...........cant claim the 70+ pips that F got though............close enough though 🙂

N

 

[sun11]

Morning F,

Here is my Lits area on GU: 4415-4402
GU chart:


For EU: 927-920

GU currently on lits...should i buy from the lower bound of the lits around 4402?

Regards
Sun

 

[sun11]

GU broke below lits.

 

[sun11]

There is a nice cross over happened at 7:57. But i didn't took the buy trade as its below the lits. So we should be looking for sell trades on pullback...hope i am right.

 

[Raja1977]

Morning F,

Here is my Lits area on GU: 4415-4402
GU chart:
View attachment 216532

For EU: 927-920

GU currently on lits...should i buy from the lower bound of the lits around 4402?

Regards
Sun

selling Presure in GU in my opinion avoid buying.

 

[sun11]

There is a nice cross over happened at 7:57. But i didn't took the buy trade as its below the lits. So we should be looking for sell trades on pullback...hope i am right.

selling Presure in GU in my opinion avoid buying.

Yes did that..sold from pullback area. I am little late though, I entered from 4403. Originally I should be entering from 4408-05.

Closed trade at 4391. Profit of 11 pips. 🙂

 

[Forexmospherian]

Morning F,

Here is my Lits area on GU: 4415-4402
GU chart:
View attachment 216532

For EU: 927-920

GU currently on lits...should i buy from the lower bound of the lits around 4402?

Regards
Sun

Highlight the main long LR to give you bias

 

[Forexmospherian]

Yes did that..sold from pullback area. I am little late though, I entered from 4403. Originally I should be entering from 4408-05.

Closed trade at 4391. Profit of 11 pips. 🙂

Well Done Sun

Relax - and dont rush into next trade

👍