A Master Class in FX Intraday Trading by F & Co

[NVP]

Re LiTs areas - the basic line in the sand for the European and London main session which then gives me a session bias for bullish above both price areas and bearish for under both price areas

My main instrument to calculate this is the longest 3 LRs on my LR set up - ie from 270 up 500 LR settings - on a 1 min chart

They are bias to the last 4 to last 12 hrs of previous Asian action and therefore can be tight - ie just 10 -15 pips area or on large moving pairs that have had busy Asian sessions - then I might need 35 to 60 pips to cover the "unknown " range and bias

Some days over 24 hrs you can have 2 or even 3 different Lits areas - especially on large moving pairs were you might have a 100 pip move up and then a 180 or 240 pip move down - ( like the GJ and even the EA some days)

I also have LiTs scalping areas where the difference in bull bias to bear bias is only 3 -7 pips - that close - and then I depend on the quicker LRs assisting me on the next direction

Some good example today on Lits would be on the EU - ( stayed above it after London Open ) and the Swissy ( Uchf ) stayed below the LiTs after LO

Other pairs have crossed over both ways - but some pairs like the GU had ugly PA early on this morning - but after Lunchtime and 1 pm have been lovely rising above the LiTs and in a nice bull rally of approx 70 pips

Hope that helps for now

I use to Lits to assist me with part stake swing trades left on with stops in a few pips of profit - so I need not babysit them and just check every hour or so once they have gone into a bias direction

Nothing wrong with using the 4 hr or daily or even weekly charts for the big picture / world view - but for intraday trading in the "now" I am always breaking up every session into 30 and 60 min time slots and generally take trades in both directions on many pairs during the day

SSS - sweet spot scalping - 7 -25 pip moves in 10 -15 mins with 3 -5 pip stops - my favourite moves ;-)

Feel free to join in and post your own set up's on any pairs and also fire away with the questions - and hopefully - I can answer them

Regards

F

Back after 5 30 pm next - basically finished for day but still got some part stakes on

Interesting F......I think this helps a lot of,followers,as Lits is a big part of the picture.....

For me also S and R levels are very important to my scalping .....and that includes using them on currency indexes as well.......and I use price bands as you need that fuzzy logic to keep it realistic......prices don't always hit exact levels like,in the text books.....as you teach, the market can easily manipulate a few pips each side of the mark so you must respect a little pip variation.....

For many they will be interested in the depth measurements again .....clearly people want tight bands to play the moves quicker......but the markets are not like that mostly

N

 

[Forexmospherian]

Wednesday 7th October 2015 - Pre Opens

Morning Guys

Late this morning

Had electricity problems - but touch wood - all back on again now and so ready to start

Did briefly had my charts up and running and now have to start up again

Hope to get the LiTs areas out in next 15 mins

Have a good day

All the best


F

 

[liver1234]

Morning

 

[Forexmospherian]

7 01 am

Starting off with the LiTs on the EU this morning

I will post a chart to explain to Dave how its derived - but its unusual this morning - the main centre of the LiTs is exactly 1273 on the EU

For the 2 levels - i am going to say 1287 and 1265

So for bull Price structure to come in more we need prices above 1287 + to carry on scalp buying

Under 1287 and 1265 - and price is 1257 atm - its as a bear bias Price structure and favours sells

In fact scalp wise its was a sell and 5 00 am and as now dropped again from 7 00 am EO

To look at holding any scalp buys on longer I would need to see price go back over 1273 and 1287 - and this would show then a Price structure change

Before i work out other main LiTs areas on other key pairs - will post the EU chart

 

[Forexmospherian]

EU - LiTS area for Wednesday 7th am session

EU

1 min LR chart

Note position of the main 3 longer LRs - the longest being the thick red line

This gave me an exact middle of the LiTs at 1273

 

[Forexmospherian]

LiTs on other key pairs

GU - 5215 - 5246

EJ - 135 35 - 135 66

AU - 7155 - 7172

UJ - 120 10 - 120 37

Uchf - 9650 - 9685

Ucad - 3060 - 3025

EA - 5715 - 5765

 

[Forexmospherian]

Morning

Morning Liver

Running late this morning - but not out for 8 00 am so around to at least 9 15 am

Have a good day


Regards


F

 

[Forexmospherian]

7 20 am

After we have out LiTs area we need then to check time rules on interim last highs and lows

Any level that as gone over 30+ mins with no breach can be a clue for the start of a change

A great example is the EJ from 7 01 am

It made a low of 135 09 and then bounced as a scalp buy

So far bounce as 135 24 and 7 20 am beacame a scalp sell again

Now if we dont go under 135 09 in this TW then I will be looking for more scalp buys again

 

[Forexmospherian]

7 26 am

Similar on EU - its low was 7 02 am at 1256/7 - if we dont go under there during this half hr TW then price favours higher again and scalp buys

 

[Forexmospherian]

Not worried about starting later this morning - by the look - the FX markets are very slow atm

Maybe it will all change after the London Open at 8 00 am

 

[Forexmospherian]

EA

7 30 am

check out 7 20 / 21 am as similar to EJ scalp sell

This EA pair as dropped 20 pips in 7 mins

 

[Forexmospherian]

7 20 am

After we have out LiTs area we need then to check time rules on interim last highs and lows

Any level that as gone over 30+ mins with no breach can be a clue for the start of a change

A great example is the EJ from 7 01 am

It made a low of 135 09 and then bounced as a scalp buy

So far bounce as 135 24 and 7 20 am beacame a scalp sell again

Now if we dont go under 135 09 in this TW then I will be looking for more scalp buys again

7 32 am

EJ

scalp sell from 7 20am from 24 area so far made 135 09 - so will exit 70%

 

[sun11]

Earned 30 pips on multi lots on EU sell trades.
But it was previously huge loss. So currently around BE.

 

[Forexmospherian]

7 26 am

Similar on EU - its low was 7 02 am at 1256/7 - if we dont go under there during this half hr TW then price favours higher again and scalp buys

7 34 am

New EU low now at 1255

Bounces staying under 63/64 are sells again

I have exited 70% stake - similar on other Euro pairs

 

[Forexmospherian]

EA - set up and scalp sell after 7 20/21 am

EA

1 min LR chart

You can see the price is under the LiTs area and it been falling

7 20 /21 am said sell again and it dropped then 30 pips to 5644

Check chart set up and see if yours agrees

7 21 am was a KT and my 2 quick Lrs crossed for down at 7 22 but PA said whilst under 5681 - then it was another sell again

7 38 / 39 am was a scalp buy - but not in it just banked 70% instead and will leave 30% on the sell for now under 68

 

[Forexmospherian]

GU - comment from yesterday

Hi shacau

Its bullish bias above LiTs and 5160 ish

Had not traded it today - as early on did not like the PA

From after 1 00 pm it been nicer and currently at R area from 5190 to 5203 ish

Above 5205 more scalp buys - but we need to get throught the R area - if not pullbacks of 20 -40 pips

GL


F

GU

8 00 am

I did buy the GU yesterday after 5205 and left 30% on and unfortunately exited it last night and left no stake on

So far this mornings its been up to 5256 and still bullish above its morning LiTs area

Really need under 5637 and 30 to be holding on scalp sells longer - as above 5640 its worth looking for more scalp buys

GL

 

[Forexmospherian]

I am being a bit lazy this morning just leaving part stakes and adding to sells on Euro 3 crosses

EU low now 1252 - EA dropped to 5636 and EJ down to 135 01

Ok - made over my 50 pip daily target in total - but not money value as a lot of pips on only 30% stakes

Dont worry - i dont stop at daily target - -still more to learn and even after 20k* scalps this year - I know I can still improve as last 100 scalps only had a 71% win ratio - not that brilliant

PS

20k * scalps

Thats the live approximate total count since i started full time over 7 years ago. This is counted as single scalps and stakes - not multi entry count - average day do 10 -20 single entries

 

[Forexmospherian]

EJ

8 05 am

I started selling EJ this morning at 7 20 am - check out after a interim high of 135 24

Now price at 134 81

43 pip drop in approx 45 mins - EJ now only my second favourite ;-)

 

[Forexmospherian]

EA

8 09 am

Now dropped approx 57 pips since i started selling it - I missed out on scalp buy as well in between

Euro crosses have been kind to me this morning

Thank you EA / EJ and even the EU ;-)

 

[Forexmospherian]

Earned 30 pips on multi lots on EU sell trades.
But it was previously huge loss. So currently around BE.

Morning Sun

Huge loss ? - lol - keep those bad ones tight

WD on the gains and have a good day Sun

Regards


F