A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

Also worth noting dollar went weak at 7 00 am - ie

EU started to rise and UCHF - and Ucad - went to scalp sells - all at same time

Did not catch any of those as was concentrating on GU and EA

OK - must go soon

See you later - will try and pop back in before 10 00 am - if not after 11 00 am next


Good Luck - and stay focused

 

[NVP]

morning all

slow day in the markets ...........nothing really has taken off in lat 2 hours

currently :-

BUY AU and GU
SELL EA UCAD

usd is bear .....scrappy stuff though in truth

later
N

 

[NVP]

I took trade on GU already, first I took buy trade from an interim bottom that loss -4 pips.
Then I took GU sell trade that loss -4 pips.
Then I took GU buy trade that gained 5 pips profit. In short. Because of GU, i am -5 pips loss. Now am not sure about the pullback. its rising.

hey Sun - F is right ..........you need to stand back more and understand what pairs are moving most with London trends

from 6.30 to 7am the GU is a sell trade ........in fact of my pairs it was lead sell most of that time ....I wouldn't have even contemplated a GU buy until earliest 7.35/40am ....then its a better and better buy option

and still is ................Personally I think for F's systems beginners need to focus on going with trends first ......... the counter trades are much more difficult and need much more experience

just my observations - N

N

 

[NVP]

ok back later ...............since 6am only the EA bear has really gone major......nearly 60 pips from opening...........

N

 

[Raja1977]

morning all

slow day in the markets ...........nothing really has taken off in lat 2 hours

currently :-

BUY AU and GU
SELL EA UCAD

usd is bear .....scrappy stuff though in truth

later
N

great call

 

[Raja1977]

Plz take a look my chart

 

[Forexmospherian]

Back now at 2 07 pm

GU - 100 pips up after 7 00 am

Now 180 pip fall after 9 - 9 30 am

 

[Forexmospherian]

EA

2 25 PM

We need to see over5660 and 5670 to stay with buying this pair

Back under 5600 and 5580- thats bear land and favours more sells

Its ranged a lot so far so not been my favourite today

 

[Forexmospherian]

EU

Range today so far 1190 down to 1140 - approx 50 pips

Boring and certainly not one pair to major on for good scalps

Bias is bull above 1170 and 80 and bear under 50 and 40

In between - cannot be bothered to be honest ;-)

 

[Forexmospherian]

EJ

2 30 pm

Been in bear land most of day and a sell under 127 80

Now supports at 127 00 to 15 are trying to hold and been a scalp buy last 90 mins

 

[Forexmospherian]

GU

2 30 pm Update

still not stopped falling

4330 and 40 not holding atm and last scalp sell from after 2 22 and 230 pm

PS - will show tick chart with my sell set up next

 

[Forexmospherian]

GU - LIVE Scalp Sell on tIck chart after 2 22 and 230 pm

GU

2 39 PM

The tick chart had a nicer set up to define the sell

So far since 2 22 pm - in about 14 mins its dropped approx 43 pips

Note the area and the PA - LH and LL's etcetc

 

[Forexmospherian]

Next clues on GU

1. We know now we need to see above 4360 and 70 for looking at holding any scalp buys on longer

Up to 4350 on bounces - still a LH etcon any chart

2. 4300 area being a big round number is a support area

3. We need to see under 4300 and 4280 really to stay with sells - as you would expect bounces next hr

4, 4323-26 would be a target on scalp buys above 4300

I am off out dod walking - but back after 4 30 pm next

GL

That scalp sell after 2 22 pm on Gu was a lovely scalp again

 

[Forexmospherian]

Back now at 2 07 pm

GU - 100 pips up after 7 00 am

Now 180 pip fall after 9 - 9 30 am

GU

4 30 pm

Update

100+ pips up after 7 00 am

After 9 00 am and news 9 30am - now a 220 pip drop

The GU as been my favourite today

Also the AU and Ucad - opposite nice rally's

EU - as normal but dropped out of its 40 pip range under 1150 to 1125 - but its bounced back up and needs to stay under 1180 and 1160 to test lower and supports again at 1120 and 1100

I appreciate - I am lucky having a 10 -12 hr window to cherry pick for pairs and moves - and if you only have 90 mins or 2 hrs - then you might catch a BTTZ area or you might have luck and still get 50 pips +

Must cover this week a bit more on levels and "wrapping" - its so helpful if you want to risk pending orders out of ranges to catch moves when you are not around - but of course you cannot always take them off 3 -7 pips - - best on only 50% stakes size or less and allow 10 to 15 pips stops - knowing if it works you might catch 50 to 100+ pip moves and still make RR's of 5 +

 

[Forexmospherian]

GU - Again - such a nice pair to intraday trade Today

Next clues on GU

1. We know now we need to see above 4360 and 70 for looking at holding any scalp buys on longer

Up to 4350 on bounces - still a LH etcon any chart

2. 4300 area being a big round number is a support area

3. We need to see under 4300 and 4280 really to stay with sells - as you would expect bounces next hr

4, 4323-26 would be a target on scalp buys above 4300

I am off out dog walking - but back after 4 30 pm next

GL

That scalp sell after 2 22 pm on Gu was a lovely scalp again

GU

4 50PM

Another scalp sell set up after 4 00 pm from 4314 area

We needed over 4323/26 to stay with buys - and that never happened after bounce above 4280 area

Now its testing supports again at mid 4280 -90 - and we know we need under 75 and 70 to stay with sells - whilst staying under TL around 95 /96 area

Here's the tick chart set up again from after 4 00 pm

 

[Forexmospherian]

5 00 pm

GU

4283 low on GU so far held for just over 15 mins

If we can breach under 80 -75 and 70 - can we make 4250-60?
We need to stay under 96 ish on any bounces now and also breach low either within 15 mins - or then if not by then - by 1 hr

Above 4300 and 4307 favours scalp buys

 

[Forexmospherian]

5 00 pm

GU

4283 low on GU so far held for just over 15 mins

If we can breach under 80 -75 and 70 - can we make 4250-60?
We need to stay under 96 ish on any bounces now and also breach low either within 15 mins - or then if not by then - by 1 hr

Above 4300 and 4307 favours scalp buys

GU

5 50 pm - update

Normally finish trading before 5 00 pm UK time - but out for a chinese this evening so later tea

OK - from above

We never breached under 4280 etc - we bounced over 96 - and stayed above low for 30 and 60+ mins - all clues for scalp buying - never mind then making over 4300 and TL's and LRs on tick all bullish

I dont know if we can make over 4315 and 20 next but the move up is approx 23 pips from low and easy a 10 to 15 pip scalp buy for waiting for additional clues

Here's the tick chart for all - including Sun - as need to improve her scalp readings and timing etc etc - which we can do

 

[NickBk]

GU

4 30 pm

Update

100+ pips up after 7 00 am

After 9 00 am and news 9 30am - now a 220 pip drop

The GU as been my favourite today

Also the AU and Ucad - opposite nice rally's

EU - as normal but dropped out of its 40 pip range under 1150 to 1125 - but its bounced back up and needs to stay under 1180 and 1160 to test lower and supports again at 1120 and 1100

I appreciate - I am lucky having a 10 -12 hr window to cherry pick for pairs and moves - and if you only have 90 mins or 2 hrs - then you might catch a BTTZ area or you might have luck and still get 50 pips +

Must cover this week a bit more on levels and "wrapping" - its so helpful if you want to risk pending orders out of ranges to catch moves when you are not around - but of course you cannot always take them off 3 -7 pips - - best on only 50% stakes size or less and allow 10 to 15 pips stops - knowing if it works you might catch 50 to 100+ pip moves and still make RR's of 5 +

Did some GU too today but as a volatility hunter I gravitated to the beast GJ 60% bigger range on the day and a few pips more on all the swings.

Another great day here F and mostly off your entries and leaving on partials. I had a few partials make me over xxxx (better not say here) let's say quite a bit.

I only track 8 pairs and trade 7 of them. AU is only tracked for correlation purposes. With dax, dow and spx and options it's enough. I stopped tracking UCaD but see it mentioned from time to time. My list is GU EU GJ GA UJ AU EA and EJ. Need more hands and eyes for more I think.

I trust you had your usual good day today.

Good luck.

 

[Forexmospherian]

Did some GU too today but as a volatility hunter I gravitated to the beast GJ 60% bigger range on the day and a few pips more on all the swings.

Another great day here F and mostly off your entries and leaving on partials. I had a few partials make me over xxxx (better not say here) let's say quite a bit.

I only track 8 pairs and trade 7 of them. AU is only tracked for correlation purposes. With dax, dow and spx and options it's enough. I stopped tracking UCaD but see it mentioned from time to time. My list is GU EU GJ GA UJ AU EA and EJ. Need more hands and eyes for more I think.

I trust you had your usual good day today.

Good luck.

Hi Nick

First of all - very well done - and I reckon you are getting more pips than me quite a lot of trading days

Today I have made atm - 176 pips - many off partials - mainly because I have not been around most of morning - and then was late to table again this afternoon

I have had a few partials stopped out with small positive pips - left one partial buy on GU this morning above 4400 and then had look leaving 1 sell part stake from under 4386

EA was ranging too much for me - EU - made only 18 pips ( in total ) and really missed out a lot on EJ - AU - UCad - etc etc

I need a holiday break I reckon - just a week away will refresh me etc and make me want to try and aim for the 300 - 400 pip days again

Hopefully that planned for end of February - early March and then maybe - I can get myself more motivated again for a few more months

Pleased you love my method and it working for you - yes you will have the odd 3 consecutive losses etc etc - but as I am sure you have found out - you will get the 15 and 20+ consecutive winners as well some sessions

GL for rest of month - and Good Trading

Regards


F

 

[Forexmospherian]

GU - 1 Min LR Chart set up covering over 14 hrs - For Sun

GU

Its been my favourite of the day - with some great moves today - ie over 100+ pip rise before 9 00 am and then a 220+ pip drop after the news

I am posting my 1 min chart for Sun

Whilst I want her to improve her scalping - ie - timing entries and cherry picking the better scalps and leaving others alone- - Intraday trading is not just loads of sprints in isolation - its also can be a mid distance run taking advantage of the highs and lows of the main session

For me today - theses are the main prices to work off

4406 -10

4510 -20

4480 - and 4440

4400

4300

4280

Lets say 7 main price areas over 12 hrs - so really you dont need more than say 7 to 10 intraday scalps over 12 hrs - ie less than 1 an hr on average

OK - there are waves within waves - so yes you could take 15 or 20 scalp trades on this pair over the 12 hrs and probably average over 20 pips a scalp + then the partials left on with stops in profit

But over a say 4 hr period - maybe just 4 to 10 scalps maximum - and this as been a busy day for the GU

Its so important to try and catch interim highs and lows - NOT take scalps just 3 or 10 pips apart normally but ideally 20 to 50 pips apart

I would like Sun to study the chart to see the clues from using levels and trendlines and LR's and LiT's bias areas etc - as well as the time rules on 30+ min and 50 -60 mins

Also basic PA of Higher High and Higher Low on a 1 min will work ( opposite on sells ) but aids of TL's and LRs and time assist more

Remember Sun - a bias price structure either strongly bear or bull - can be stopped by any S or R levels - and then 30 mins later - all's changing etc

But know you levels next from every change - then they can be used to "wrap " - ie above that price more buys - below that price more sells

For me a stand out price was 4400

We turned around 4506/ 7 at 7 00 am - so never went under 4400

Then after news and a few hrs later - we breached under TL's and breached then under 4400 and into a bear price structure

Its so important you understand the levels of a pair and what will happen - if they dont breach them

Please ask any questions that you are confused on - similar - any other followers please feel free to question etc etc

GL tomorrow and Sun - control yourself - you have what 3 to 5 hrs to make your target - not just 1 hr of before London Open ;-)

That chart