A Master Class in FX Intraday Trading by F & Co

[sun11]

Morning All.
EJ failure swing high, sold 122.61.

 

[NVP]

early doors but already the EA has been a nice mover as a sell ........its got to nearly 50 pips suth since 6am already ............

I don't expect that to last but will certainly be playing the resells

yen sold off well..............moderate buy pips on EJ and UJ

nothing else really happening AU buys but really its behind the pack already mentioned

back later

N

buy playing the 3-4 pairs above I am pretty close to my 50 pip already :smart:

is not hard really from 6am .....follow the currencies with momentum

it will be yen or gbp or both ..........I will play EA if these guys are not providing a decent pair option to trade :smart:
N:smart:

 

[sun11]

Morning All.
EJ failure swing high, sold 122.61.

Very bad decision it seems..

 

[Forexmospherian]

Plan for today

Got to pop over to Burton on Trent this morning - its only about 30 mins away from where I am but why I am over there collecting some things for the house - I might pop over to the England FA training down at St Georges Park - Its a great sports set up

Hope to be around after 2 00 pm and will catch a couple of hrs trading in the US session

Calendar wise - a few red news releases - on Pound - Cad Dollar and US Dollar later on this afternoon

So really we should be trading the Pound crosses this morning - then later Cad pairs and the EU maybe more later on today

Having a 15 min break now for my favourite egg and bacon sarnie ;-))

 

[Forexmospherian]

Morning All.
EJ failure swing high, sold 122.61.

Morning Sun - Nick and all

Back in a bit

 

[NVP]

so far from 6am the yen has run down twice to -25 pips..........if I had managaed to have euro or USd even moderately bull during those periods I would have doubled my pip haul by now ...........

gbp is a pussy today ....... its staggered out of bed ...and fallen only 8 pips so far ..........thats comatose compared to last weeks action

thank god EA has been active to help ..

heres more recent Yen still selling off into my 2 fav pairs on it

SELL YEN !!!

N

 

[Forexmospherian]

Very bad decision it seems..

sorry Sun - just checked it

You sold into support at 122 60

also in a bull PS above a trendline up from 122 15 and 46

Never sell into supports so close - Ok if 10 -20 pips away - but not like 1 to 5 pips away

No problem - i just hope you got out ASAP

 

[NVP]

ok i'm going to get ready for work......done ok already so not chasing the ace anymore today

watch the gbp ............its brooding on sells ..........only 8 pips off so far from 6am ............watch the dump on time windows ...........go GU sell

N

 

[NVP]

Morning All.
EJ failure swing high, sold 122.61.

dude .yen is bear bear bear ..be careful :smart:

 

[NVP]

ok i'm going to get ready for work......done ok already so not chasing the ace anymore today

watch the gbp ............its brooding on sells ..........only 8 pips off so far from 6am ............watch the dump on time windows ...........go GU sell

N

gbp has drifted down over 10 pips now on GU .........still a little tricky though.........and other pairs are rocking much much more ..........

EA now some 70 pips from 6am open :smart:

ok back later
N

 

[sun11]

Morning Sun - Nick and all

Back in a bit

Sure...enjoy your breakfast..
Now EJ is the worst pair to trade.
It's bleeding...

 

[NVP]

Sure...enjoy your breakfast..
Now EJ is the worst pair to trade.
It's bleeding...

they are both bear again Sun.......yen is the sell of the day since 6am .....but its no good selling into euro at moment ..........cad,AUD and NZD are the bulls today ............I wont trade those pairings with Yen ........cant be bothered

easier pickings elsewhere :smart:

GBP has come south but again not really happening for me on pairings

N

 

[NVP]

I really really owe F a pint on getting me back into the EA ............2 bloody boring and genrally slow currencies .....

but they genuinely HATE one another most days and offer cracking inverse correlation

N

 

[Forexmospherian]

sorry Sun - just checked it

You sold into support at 122 60

also in a bull PS above a trendline up from 122 15 and 46

Never sell into supports so close - Ok if 10 -20 pips away - but not like 1 to 5 pips away

No problem - i just hope you got out ASAP

EJ

7 38am

See you later N - have a good day

Sun - this was my 1 min set up - see below

 

[sun11]

they are both bear again Sun.......yen is the sell of the day since 6am .....but its no good selling into euro at moment ..........cad,AUD and NZD are the bulls today ............I wont trade those pairings with Yen ........cant be bothered

easier pickings elsewhere :smart:

GBP has come south but again not really happening for me on pairings

N

Hi NVP,

Yes EJ is rising up..straight..EO is never good for me specially on certain days..95% time I lose during EO. From now on I will predict those days in advance.

Now a break...
Good day..
S,

 

[sun11]

The area where you marked the support. Just checked 20-30 minutes before it, it was creating lower low & lower high. Reason why I sold it. Then suddenly it changed the bias completely into higher high.

Regards

 

[Forexmospherian]

The area where you marked the support. Just checked 20-30 minutes before it, it was creating lower low & lower high. Reason why I sold it. Then suddenly it changed the bias completely into higher high.

Regards

Would have to disagree Sun - and now I can see one of your mistakes

Yes in terms of a wave down from previous high at 122 75 - the 1 min candles were doing lower highs and lower lows to 122 60 approx

BUT

the higher low it needed to breach to be in a proper LL situation was at 122 47 - ie the swing up from there to 122 75

Now to get below 122 47 - we needed to drop under horizontal supports - and dynamic supports ( WHEN BOTH - STRONGER ) AT 122 60

By selling at 61 - too close = if you had sold at say 72 or 69 - no problem for a quick scalp sell - or under 55 and 47 - no problem

But you actually scalp sold at the very very worse price- sorry - its an easy mistake I dont worry - I have may have done it 100's of time in my trading journey along the way

so key supports now on EJ - say 122 47 / 50 - then 122 60 and also 73/75

Price just made 123 00 - correction 122 98

Another lesson - but part of the learning we all go through - so dont worry - just learn from it

Also really when 60 did not break - did you think about buying over 72 or 75??

If not - why not ?? - all part of getting the mind to focus and question all prices



Regards

 

[Forexmospherian]

GU

Totally missed the GU scalp buy in the 7 30 am TW

Must have been munching my sarnie or gulping my coffee

Missed out on a cracking move up - over 60 pips and did not get one pip on it as had no partial on this morning on buys - my c*ck up - but that's trading - you will never get it all 100% right etc etc

 

[Forexmospherian]

GU

7 59am

We stayed above 3900 and 3920 supports on pullback from 3945 area and so a buy was in keeping with the HL principle and 3980 is a HH above 3948

LO next - be careful on hr change or 3 min later for spikes - just in case

 

[Forexmospherian]

EJ

On my set up it stalled at 98 and then under 94 it was a scalp sell at 7 56am and 8 00 am confirmed it

so far at 8 04 am its dropped to 75

We need to stay above 62/ 65 area ideally - but wtach time rules next