A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

For what ever reason that 7 13/ 14 am seems to be a turn point and start of scalp buys on a few pairs

Just been looking at the UJ - check it out after 7 13 am

I will want to try and scalp sell the UJ in next 3 -5 mins if possible now

 

[Forexmospherian]

UJ

7 38 AM

119 87 interim high so far and we must keep an eye on time rules as well - because if we dont fall now and make a new low in next 20 mins - then we will have a mini turn up going on with the UJ trying back up into its LiTs area

 

[Forexmospherian]

UJ

7 42 AM

The scalp sell under 119 87 will only work now if we drop under 82 and then I reckon if that happens its still another scalp buy around 79 to 81

I am out again in 10 mins so might not be able to carry on scalping this pair - similar with others now which have interim last lows or highs getting near to 30-35 mins with no breaches

GL

 

[FXWorx]

7 31 pm

Some more LiTs areas for other pairs

EJ - 134 65 - 135 05

EA - 5570 - 5632

UChf - 9712 - 9742

Hi F

Just to make clear: Under Lits you would scalp both ways but leave part stakes on on sells- above Lits vice versa ? When 30 min rule takes affect you would then start leaving buys on again until 30 min low violated?

 

[Forexmospherian]

I am leaving now after making 3 scalps and now at 16 pips

Not a great start to the day - but its a long day as mentioned - my first 75 mins yesterday was over 100 pips off 3 pairs - not going to happen today ;-(

Back after 8 50 - 9 00 am for an hour

See you later guys

 

[Forexmospherian]

Hi F

Just to make clear: Under Lits you would scalp both ways but leave part stakes on on sells- above Lits vice versa ? When 30 min rule takes affect you would then start leaving buys on again until 30 min low violated?

Yes

Thats the basis of the idea

I will go into more detail a bit later on

On time rules allow 35 mins and then it need 50 -60 mins if it tries again for a breach

Regards

F

 

[FXWorx]

Yes

Thats the basis of the idea

I will go into more detail a bit later on

On time rules allow 35 mins and then it need 50 -60 mins if it tries again for a breach

Regards

F

Thanks

 

[Forexmospherian]

LitS areas for Thursday's AM session on a few key pairs

EU - 1227 - 1249

GU - 5330 - 5305

UJ - 119 93 - 120 12

AU - 7195 - 7222

8 50 am

I got the key LiTS areas out before the European Open at 7 00 am

I have picked out 2 pairs as ideal examples of how it works

If price is above both LiTS prices - then thats show bullish bias and you should favour scalp buys etc

Vice Versa on prices below the LiTs area

OK

EU

the interim low was 1247 in the first EO hr

The Lits was 27 to 49 - so once we went back over 1249 and 50 - then time to scalp buy

This was 7 39 am on wards

Did I enter at that time - no - was scalping other pairs ( UJ ) just before I left

EU as now made 1307 and hovering now just under 1300

So an ideal 40 -50 pip LiTs buy trade

UJ

Now on this pair I scalp sold it from 119 87/ 84 and made just over 5 pips

I did leave a partial stake on - but was not back in time to take a 20+ pip profit on this pair as under its LiTs at 87 ( 93) and so favoured falls

I will just leave it for now and see if we drop again under 84

 

[Forexmospherian]

EU - LiTs area for AM session

EU

8 56 AM

Here's my 1 min LR chart

I had the buy based on Lits at above 1249 - ideally after 7 39 am Key time

Was not here to take full advantage of it though - shame and missed the exact scalp buy entry

 

[Forexmospherian]

9 00am

A question to think about

Where do we buy the EU again from ?

1265 ?

1273 ?

1278 ??

Lower ???

 

[Forexmospherian]

7 31 pm

Some more LiTs areas for other pairs

EJ - 134 65 - 135 05

EA - 5570 - 5632

UChf - 9712 - 9742

EJ

9 05 am

LiTs again

134 65 - 135 05

High so far 135 31

To buy above 134 05 was after 8 21 am - unfortunately not around for this scalp

The low over first EO hr was 72 so above the lower LiTs level of 65

134 18 is key now thats like a scalp Lits ##

Above 18 favours scalp buys still

Below 134 18 - favours scalp sells down to 05 or 134 00 area

 

[FXWorx]

8 50 am

I got the key LiTS areas out before the European Open at 7 00 am

I have picked out 2 pairs as ideal examples of how it works

If price is above both LiTS prices - then thats show bullish bias and you should favour scalp buys etc

Vice Versa on prices below the LiTs area

OK

EU

the interim low was 1247 in the first EO hr

The Lits was 27 to 49 - so once we went back over 1249 and 50 - then time to scalp buy

This was 7 39 am on wards

Did I enter at that time - no - was scalping other pairs ( UJ ) just before I left

EU as now made 1307 and hovering now just under 1300

So an ideal 40 -50 pip LiTs buy trade

UJ

Now on this pair I scalp sold it from 119 87/ 84 and made just over 5 pips

I did leave a partial stake on - but was not back in time to take a 20+ pip profit on this pair as under its LiTs at 87 ( 93) and so favoured falls

I will just leave it for now and see if we drop again under 84

Got It Thanks

 

[Forexmospherian]

UCad - Sorry - missed LiTs area this morning

9 14 am

Just been looking at the UCad and realise I had not posted a LiTS on it at all this morning


Heres the updated chart at 9 10 am

the LiTs for the Opens was at 3055 to 3075

Under 55 was sells and so far low was 3041

 

[Forexmospherian]

Got It Thanks

Good

No problem and its worth pointing out - even though we have the LiTS prices to give us a scalp bias - as you know we can still scalp both ways on any pair - but look for the larger scalp targets on the bias direction

Great example again on EU

Firmly scalp bullish this morning over 1249 and 1275 - but still after making approx 1307 it still then a great scalp sell for 15 pips or so

 

[Forexmospherian]

9 00am

A question to think about

Where do we buy the EU again from ?

1265 ?

1273 ?

1278 ??

Lower ???

The interim low so far was 1283 and then 9 09 am at 1288 was the scalp buy

So all my prices were too low with nearest 5 pips away

We do have a great clue now

If the EU drops under 1281 and 78 - definitely sell it then for a lower support

We do need back over 1303 to stay with scalp buys as well

 

[Shacau]

9 00am

A question to think about

Where do we buy the EU again from ?

1265 ?

1273 ?

1278 ??

Lower ???

9:09 am was a nice scalp buy : )

 

[Forexmospherian]

With me looking at trading again tonight after 6 45 pm - I am going to pace myself and so will pop back in after 10 00 am next and then do an hour or so pre 1 30 pm news and a couple of hrs from say 2 30 pm to 4 30 pm ish

Check your 6 main KT's every hr for scalps lining up with LR crosses and also keep in the back of your head LiTS bias etc

See you later guys

I welcome more questions in between and please feel free to post any charts and calls etc etc

 

[Forexmospherian]

9:09 am was a nice scalp buy : )

WD Shacau

It did line up nice as well

Have a good day and see you later


F

 

[Forexmospherian]

EA - 3 Hours Thursday AM

EA

10 37 pm

I have been saying this pair as taken over from the EJ as my favourite intraday FX pair

Today - Its been great again - but unfortunately i have not been around to catch all the morning opportunities

So far off 4 main scalps there as been easily 180+ pips - all within 3 hrs

Ok - I have managed to get 36 pips off it - but hardly a big tally so far

I dont really recommend scalping it until you are at least stage 3 or 4 in my 6 x 6 month stages - first few month stay with the AU / EU / UJ etc

If you can "sync" up moves with the EU or even AU as an oppositely correlated pair than fine - worth trying it out

Heres an updated chart

Its stayed above its LiTS area after 7 30 am and topped approx 100 pips higher so far - with great pips available both off buy and sell scalps

 

[Forexmospherian]

GU- Another bullish pair above its LiTs Area

GU

1 min LR chart

Have shown the LiTs - as posted late around 7 31 am this morning

Ideally you added more buys after 10 21 am