A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

EU

11 19 AM

The morning high of 1215 as now gone over 30 mins with no breach

That does not say it will not try again and breach it after 11 39 or 11 51am - but for now the test is more static and dynamic supports from 1280/83 to 92

If price does manage to breach both interim supports next one is in the 1260 -70 area

Any turn needs over 1318 and 1325 to add to stay with scalp buys

Will be back for UK pound red news releases at Midday

 

[Forexmospherian]

11 58 am

GU news in 2 mins

From 11 30 / 11 39 / 11 51 am - GU as been a scalp sell from a morning high at 5372

Is this just a pre news set up ?

 

[Forexmospherian]

GU

30 pip drop in approx 30 mins

Will post a chart in a bit just await news releases

 

[Forexmospherian]

Midday - 12 00 pm UK

GU

2 way small spike - with interest rates no change scalp sells stay in under 45

 

[Forexmospherian]

GU - From 11 30 am to news release at 12 00 pm

GU

1 min chart

All followers using a LR chart hopefully would have sold - either after 11 30 am or 11 39 am or even 11 59 am

Dont worry if you did not get 30 + pips - just getting 10 or 15 pips with a tight stop is an excellent scalp and should be a RR of 2 or 3

PS - the black area is start of the LiTs

 

[Forexmospherian]

Midday - 12 00 pm UK

GU

2 way small spike - with interest rates no change scalp sells stay in under 45

The GU drop now from 11 30 am is 50 pips in total

Need to look for a scalp buy next

 

[Forexmospherian]

The UK pound interest rates news releases was always a clue to trade the GU ideally 30 -60 mins before hand - with red news there would be more movements going on - either prior the release or for 5 -15 mins afterwards

This is why every day you check you FX calendar and look a trading any news pairs - as you are know there should be some scalp opportunities etc etc

 

[Forexmospherian]

Midday - 12 00 pm UK

GU

2 way small spike - with interest rates no change scalp sells stay in under 45

GU

12 16 pm

Price now down at 5307

Still cannot scalp buy yet - maybe in next TW ?

 

[Forexmospherian]

12 20

I had my first quick LR cross over at 5309

Too early for me - I need more clues and really 5307 is above a support level of 5300

Out 70% stakes off last scalp sell

Would leave 30% sell stake on while we stay under 5330

 

[Forexmospherian]

12 23 pm

Always the interesting part

scalp buying on 100% stake size and left 30% stake on still on a sell under 5330 - as that stop is well in profit

Please dont try this until you feel confident with your scalping and also have some nice profitable pips already in the kitty etc etc

 

[Forexmospherian]

EJ

12 29 PM

Now this pair was a better scalp buy at 12 20/21pm

Its made 10 pips compared to GU so far only been up 6 pips

Trouble is EJ as retraced quickly - at least GU trying to hold the bounce

 

[Forexmospherian]

EA

12 32 pm

Scary

from 12 29pm this pair dropped 30 pips in 2 mins

Not in as a added additional scalp but still got 30% on from 11 33 pm time on a sell

 

[Forexmospherian]

12 40 pm

I have cut my GU scalp buy with 3 pips profit

It as not been able to make 5317 and it need really over 5322 to stay with any buys

Still got my 30% stake sell on

Would only scalp buy GU now if price made over 5318 and 5322 without going under 5300

 

[Forexmospherian]

GU

12 46PM

I missed adding to my 30% scalp sell at 12 39 / 40 pm - as the clues were there with the LRs crossing

Shame - I hope some of you might have caught it as easy worth 7+ pips

Back now for 1 30 pm news

 

[Forexmospherian]

EU

11 19 AM

The morning high of 1215 as now gone over 30 mins with no breach

That does not say it will not try again and breach it after 11 39 or 11 51am - but for now the test is more static and dynamic supports from 1280/83 to 92

If price does manage to breach both interim supports next one is in the 1260 -70 area

Any turn needs over 1318 and 1325 to add to stay with scalp buys

Will be back for UK pound red news releases at Midday

EU

1 15pm

Surprised the EU fall - or retrace as been larger than I though

Price managed to breach under 83 - 70 and 1260 and so far got to 1240 area

We have US dollar news in approx 14 mins - so will take 30% profits off on all sells under 1300.

Also moved GU stop on 30% down now from 5330 to 5297

 

[Forexmospherian]

For US dollar news - will look at scalping EU and will also keep an eye on UJ / UChf/ and UCad if we get a strong reaction

 

[Forexmospherian]

Red US news release in approx 4 mins

 

[Forexmospherian]

1 31 pm

Amazing - no real reaction atm ?

 

[Forexmospherian]

Looks like the 7 00 pm news tonight will be the one the market is waiting for with regards to US Dollar ?

Also BOE Gov speaking at similar time so maybe a Pound reaction as well

So far its dropped approx 100 pips from its morning high

OK plan to pop back now after 2 30 pm and get a couple hrs in this afternoon - and then do another session 6 45 pm to 7 45 pm ish all depending on market movements etc

See you in a bit


F

 

[Forexmospherian]

2 56 pm

OK going to see if I can catch some nice scalps this next 90 mins

Just checking main pairs etc - been slow from what I can see for start of US day