A Master Class in FX Intraday Trading by F & Co

[NVP]

hey all back for 2 mins

jees the euro dumped in last 90 mins !!!

Euro pairs dominated

Sell EA
Sell EJ
Sell EU

nice !!

 

[Forexmospherian]

EU - update now prior to 10 00 am

EU

6 30am

Believe it or not - we are in a slightly bull PS setting for the morning session above 1020/25 - but really need a move above 1060 to confirm it

If we drop under 1020 and 1000 - then supports at 0980 and 0960 areas

I have taken a scalp buy at 1033 in last 15 mins - not expecting to get 20 -30 pips - but at least get me off my duck ;-)

EU

9 51AM

Comment above from over 3 hrs ago

we were bull bias on PS above 1025 - BUT we could not get over 1050 and really we needed back over 1060 - as said to stay with buys

After 8 51 am and 9 00 am it was just sells - and certainly under 1030 and 20 it was moving back into bear land

Now its cracked under the 1000 price support area - it could not do it yesterday

We need to stay below 1025/30 on bounces or retraces to try under 0990 and then supports at 0980 and 0960 .

Notice how over the Opens it tested both ways -ie testing 1020 and 1050 - also done to catch intraday short termers out as well as getting the swing traders taking wrong trades

All part of the FX game - get all your intraday levels worked out before hand and then hopefully it helps with the planning

 

[NVP]

booming retraces now on EA ...........back to buy

Ucad buys as well ...........

EJ is retracing Hard .........not enough to put me in buy yet

 

[NVP]

EU

9 51AM

Comment above from over 3 hrs ago

we were bull bias on PS above 1025 - BUT we could not get over 1050 and really we needed back over 1060 - as said to stay with buys

After 8 51 am and 9 00 am it was just sells - and certainly under 1030 and 20 it was moving back into bear land

Now its cracked under the 1000 price support area - it could not do it yesterday

We need to stay below 1025/30 on bounces or retraces to try under 0990 and then supports at 0980 and 0960 .

Notice how over the Opens it tested both ways -ie testing 1020 and 1050 - also done to catch intraday short termers out as well as getting the swing traders taking wrong trades

All part of the FX game - get all your intraday levels worked out before hand and then hopefully it helps with the planning

the greatest thing I have learnt in last 2 years scalping is patience and taking less scalps .............my machine gun approach then was wasteful and crazy (as F told me at the time)

Identify 3-4 key Pairs for opportunities ......then step back and think ......and wait ....that's what I try to do now ........:smart:

 

[NVP]

booming retraces now on EA ...........back to buy

Ucad buys as well ...........

EJ is retracing Hard .........not enough to put me in buy yet

Ucad from 3732 .........just timing back in the swings ..usd still bull

 

[Forexmospherian]

booming retraces now on EA ...........back to buy

Ucad buys as well ...........

EJ is retracing Hard .........not enough to put me in buy yet

Hi N


Here's that EA scalp buy after 9 41/2 am

I was late getting in - but still got 27 pips out of it so far


This is the tick chart again - set up was nice - but just outside time window so not perfect

 

[NVP]

booming retraces now on EA ...........back to buy

Ucad buys as well ...........

EJ is retracing Hard .........not enough to put me in buy yet

nice retrace at 5203 on EA .now 5211

 

[Forexmospherian]

the greatest thing I have learnt in last 2 years scalping is patience and taking less scalps .............my machine gun approach then was wasteful and crazy (as F told me at the time)

Identify 3-4 key Pairs for opportunities ......then step back and think ......and wait ....that's what I try to do now ........:smart:

When you think about it scalping is like being a sniper hit man

You need patience to wait for the right time and situation - because you are not using a machine gun and hoping for just one hit - you want precision and accuracy and then done correctly you collect a fair amount of pips off a tight stop giving you exception reward to risk - rare for FX traders

Everyday there could be 15 - 20 even 40 great set up over say 10 -12 hrs

OK - you could take 100 or 150+ scalps - but very tiring and a lot of wins might still only be RR's of just 1 - rather than the 3's and 5+'s we are after

Glad you have adapted N - it will pay off long term - because you will feel more rewarded and satisfied that you are being efficient with your time - energy and your trades

Out again in 15 mins - blooming busy on domestic chores etc etc

Hope to be back this afternoon

Good Trading


F

 

[NVP]

back for 2 mins .............

usd is bear at moment ............opps buying into it

 

[NVP]

EU looks promising at 1013........usd may be a little over sold though ..euro looks ripe for a buy bounce though

 

[NVP]

usd over sold ?.................its under pressure now to rise again

 

[NVP]

4114 ....poss rebuy on gu .............

EU already gone 1016 already

 

[NVP]

4115 on GU ..............trigger ready for rebuy

 

[NVP]

wait ..........the market is really oscilating ......let it settle

 

[NVP]

4117 - 4110 ranging GU .wait

 

[NVP]

trigger ready - buy GU 4116

watch EA Sells ......5200 resistance line to sell off of

 

[NVP]

markets volatility has dieded a little .........hmmmmmmm

 

[NVP]

i'm not chasing that GU sell...............screw it

 

[NVP]

im not selling GU till the 4100 barrier breach gets confirmed

 

[NVP]

sell GU ..............4100 needs to be breached royally ....capishe ?