A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

Weak Yen pre LO - UJ this morning so far

UJ

1 min chart

I mention when I first did the LiTs and the EJ that the Yen looked weak so far this morning

We have had the EJ make a nice bull move up and also the UJ


Nice Price structure example as well with LR etc

 

[Forexmospherian]

EA

6 58 am

We caught the high yesterday and then over the course of the day took more scalps - in both directions but held on to the partials on all the sell scalps .

Some got taken out during the 7 00 pm news release last night - but all the ones before 3 30 / 4 00 pm were fine - bagging another 160+ pips for the kitty

This chart shows what i was seeing

Hope yours is similar

Also the 2 rectangles are the LiTs for yesterday and this morning

EA

Since this post - its dropped nearly another 50 pips

Its under its LiTs - so you do expect it - until it meets a strong support area

Moved 30% stake partial down to 5505 now

 

[Forexmospherian]

Talking of 2 easier pairs to trade than the EU

Both the GU and AU are above their LiTs areas and from 6 59 / 7 00 am both saw nice scalp buys - as you would expect with a LiTS BULL bias

Both are making pullbacks atm - we still dont know if both are false etc - but we know if we stay above entries we should at least be able to read the PA and the LRs to see whats next

GU and AU

7 35 am

Still been moving up with new highs

Looking to see where next Rs might be next

AU near 7300 - so a big round number R and GU 5383 high - with 5380 and 5400 both R areas

 

[Forexmospherian]

All I keep seeing from 7 30 am is pullbacks and falls now

Too many pairs to scalp simultaneously so its a case of going with your favourites or the pairs you have faith in the most

 

[FXWorx]

EA

Since this post - its dropped nearly another 50 pips

Its under its LiTs - so you do expect it - until it meets a strong support area

Moved 30% stake partial down to 5505 now

Morning F -Thanks for the charts.
Yes all is coming together for me now.

 

[FXWorx]

All I keep seeing from 7 30 am is pullbacks and falls now

Too many pairs to scalp simultaneously so its a case of going with your favourites or the pairs you have faith in the most

Yes can be confusing for a newbie like me.

 

[Forexmospherian]

Scalp sell example for 7 30 am example for Sun and all students of the method

AU

7 45 am

Example of a LR cross at 7 29 am and scalp sell from near a R area at 7300

Its a scalp and still falling atm

 

[Forexmospherian]

Yes can be confusing for a newbie like me.

Sometimes the market likes to make you like a kid in a candy store with everything FREE

Ideally you pick just 2 or 3 maximum pairs to simultaneously scalp - ( 1 if still learning) rather than try and get in 4 or 6 pairs with say 2 mins and then not be able to manage or baby sit them correctly

The key is you want just positive pips - the more the merrier - but if more means out your comfort zone - stay safe and just make a profitable trade on one pair

 

[Forexmospherian]

Morning F -Thanks for the charts.
Yes all is coming together for me now.

That's great to hear FXW

Keep it up and fire away if you have any more queries etc etc

 

[Forexmospherian]

AU

7 53 AM

It dropped 13 pips from 7 30 am

7 51 am said scalp buy - but not convinced atm - so left 30% on sell with stop in profit at 95 - just in case we get a bounce

 

[Forexmospherian]

7 57 am

Remember we might get quick spikes at 8 00 am LO etc

7 30 am seemed to be the change time on many pairs etc- even UCad and EA as well as the others already mentioned

 

[Forexmospherian]

EJ

7 59am

Just going back to this pair

I had R at 55 -60

It actually made 61 before it pulled back after 7 30 am

Its still above its LiTs so main clues now

Above 63 and 67 - more scalp buys

Under 41 and 37 - scalp sells

 

[Forexmospherian]

8 03 am

Maybe now a good time to check time rules on latest interim highs and lows on pairs etc

 

[Forexmospherian]

EA

8 04 am

Been a nice scalp buy from after 7 51 and 7 55 am

still in 30% partial sell but scalp buying at 100% stake and its already just moved up 25 pips in 7 mins

 

[Forexmospherian]

EU

8 07 AM

Not be bothering scalping this pair so missed the 8 00 am quick move up of 20 pips -

Price now at 1298 and above the LiTs

As I have been typing i have entered and in last min its made 1306 so far

Scalping sometimes is that quick

 

[Forexmospherian]

EA

8 10 AM

Its approx 6 pips away now from my 30% partial sell stake stop in profit - moved down from yesterday

I am in a scalp buy at 100% stake and up 27 pips - so really what ever happens - I make money out of it

 

[FXWorx]

EA

8 10 AM

Its approx 6 pips away now from my 30% partial sell stake stop in profit - moved down from yesterday

I am in a scalp buy at 100% stake and up 27 pips - so really what ever happens - I make money out of it

Do you manage your partials separate form each other or manage all together as one position?

 

[Forexmospherian]

EA

8 10 AM

Its approx 6 pips away now from my 30% partial sell stake stop in profit - moved down from yesterday

I am in a scalp buy at 100% stake and up 27 pips - so really what ever happens - I make money out of it

8 18 am

EA

there goes my 30% partial sell stop in profit - end of a great pip haul from yesterday on the EA

Still over 31 pips on the scalp buy and I can always sell again if the EA does make another new daily low under 5450

 

[Forexmospherian]

8 25 am

I was going to stay trading until about 9 15 am this morning before going out - but its been so busy going to start my break now - achieved my daily pip target all within 2 hrs - so happy on that side

Hope to be back for around 10 30 / 11 am and then will also be around for 1 30 pm news and couple of hrs from 2 30 -4 30 pm

Thats the plan today and a early finish as off out for tonight

See you later guys

Please feel free to make any calls and post charts and ask questions etc etc

Stay Focused and GL

Regards


F

 

[Forexmospherian]

EJ

1 min LR chart

LiTs area is the rectangle shown

Its been a scalp buy since 6 09 am ( 38 ) and the real test is 55 to 60 area first

Nice example of Lits covering the Asian Session

EJ

10 10 am

Update approx 45 mins ago

It nearly made a 100 pip rise before its pullback

Saying that the EA did over 100+ pips before a 70 pip pullback after 9 21 am - I was not around to take adavantage of the sell

Only popping in a couple time an hour for now and then back more after Midday