A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

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

Hi FXW

Sorry had not seen this question before I popped out

I try and manage each pairs partials all together if I can - knowing my scalp entries and then always trying to get partials with stops of at least 2+ pips

Every hour I will move the later partials stops into more profits if i can but always try and leave the first 30% on the longest if possible

Also I never like to lose more than 50% of whats on the table - which is always possible with multi partials - but not just with one

So if a pair as moved 70 pips in profit - I need one stop in profit ideally around the 35 to 40 pips mark - whereas the original off the first scalp can stay with just 1 or 2 pips of profit and only moved later on in the day

Hope that makes sense

F

 

[Forexmospherian]

EU

10 36 AM

Just an update

Its still above its morning LiTs area - but now in a range from 1315 to 1342

Above 1342 I will scalp buy more for a test of 1350 area

Below 1315 - then a scalp sell down to 1295 / 1305 supports

Thats the plan if we come out the range over next hour

See you after 11 00 am next

 

[Forexmospherian]

EU

10 36 AM

Just an update

Its still above its morning LiTs area - but now in a range from 1315 to 1342

Above 1342 I will scalp buy more for a test of 1350 area

Below 1315 - then a scalp sell down to 1295 / 1305 supports

Thats the plan if we come out the range over next hour

See you after 11 00 am next

EU

10 51am

Popped back early as scalp buy started from 1325 at 10 48 am - basically 3 mins before the TW

So far we have made 1347 and an initial stall

As long as we now stay over 1330 on pullbacks - we should try higher and test 1350+

Lets see ;-)

 

[Forexmospherian]

EU

11 22 am

Price at 1337 and we have had no new breach of high at 1347/8

That favours lower or another wait of 20 -30 mins to try again

This whats known as a BTTZ tease zone

Market makers set this up deliberately to fool both bulls and bears and get them to take wrong trades

Becareful in case we get a double false B/O both ways next - they do happen

 

[Forexmospherian]

EU

10 51am

Popped back early as scalp buy started from 1325 at 10 48 am - basically 3 mins before the TW

So far we have made 1347 and an initial stall

As long as we now stay over 1330 on pullbacks - we should try higher and test 1350+

Lets see ;-)

EU

11 37 pm

Well we stayed above 1330

We did not make new high within first time rule

But finally nearly 50 mins later - we have now beached the last high and made 1360 so far

 

[Forexmospherian]

Back after 12 20 pm next for an update before 1 30 pm Cad Dollar news

 

[Forexmospherian]

EU

12 37 PM

Last scalp buy was from 12 30 pm - but we need to now try over 1372 and 75

We are also near the limit on time rules on last high of 1267/8

 

[Forexmospherian]

EU - The importance of time in the TA equation

EU

High so far at 1367/8 was exactly at Midday UK time

A pullback and scalp sell - then 12 30 pm a scalp buy

Is is a 123 / ABC pattern or a new high

Time favours the further pullback atm

Also news in 45 min on UCad could be another reason for a rest for now

See chart with clues etc etc

 

[Forexmospherian]

EJ - Back as my favourite this morning

These 3 pictures paint the picture and say more than a thousand words on the EJ this morning

So far a 130 + pip rise since 7 00 am - yes squeezed more than that out of it pip wise

Heres the start then over last 6 hrs

a few hrs later

Now in last 10 mins

 

[Forexmospherian]

EU

12 55 pm

We still have not breached last high of 1267/8 - BUT

we are coming up in the time rules that would allow another breach to take place now

We need to stay above 1350 and ideally 55 on any pullbacks - as under both is end of bull bias for now

we do have some red news on Cad as well in 30 mins - so that could be an excuse to wait and just tease both ways

All depends on the market makers and the liquidity providers gameplans

 

[sun11]

UCad reacting at 100 LR & previous top.
I scalp little. Don't know which direction from here.

 

[Forexmospherian]

UCad for 1 30 pm Red Cad Dollar news

UCad

Its presently in a bearISh bias under its LiTs area and had dropped down to 2900 area this morning

It would really need a bull rally to move price back over 2975 and 85 to be able to look at holding or taking new scalp buys on

Any bounce up to 2980/83 should just fall again - but to hold scalp sells on longer and take new ones - again would need under 2905 and 2895

News now in less than 15 mins

If the Cad dollar is strong expect more falls - but if weak then it would also need more strength in the US session to turn the UCad back to bull bias for the afternoon session

GL

 

[Forexmospherian]

EU

1 19 PM

Crafty - it teased down under 1350 to 45 - before a full turn back up to test the high again

Typical price action in a BTTZ tease zone - all designed to get bulls and bears in wrong trades

Difficult to get scalpers totally the wrong way and on my method the 2 lr multi cross over at 1 11pm basically said - dont stay with the sell and once back over 1355 - all LRs saying BUY BUY BUY

So far 1375 now

 

[Forexmospherian]

If you check the EU tick or 1 min chart - the tease down under 1350 was false and a trap

If you had scalp sold at 12 51 or 1 00 pm no problem - but if you entered at 1 09 pm - then you might have got caught as it only dropped a further 3 pips before stopping and turning

 

[Forexmospherian]

Not going to take any more scalps atm as too near red Cad news at 1 30 pm now

 

[Forexmospherian]

1 30 pm

Seeing Cad weakness on news - and a 15 -25 pip spike up

Not convincing so not planning to enter either way atm

 

[Forexmospherian]

EU

1 33 PM

Testing 1380 now

clues for a sell off are 1345 - as above there still bull bias atm

 

[Forexmospherian]

EU

I can scalp sell under 1367 and 61 - but as just mentioned 1345 to 55 is all interim supports - so need under both to stay with scalp sells

 

[Forexmospherian]

EU

1 45pm

We have not been able to make under 1358 so it turned back into a scalp buy again from 1360 and after 1 41 pm

Still in a tease zone for me - so not going to bother with more scalps on EU until either back over 1375 an 85 - or under 1350

 

[Forexmospherian]

Out of the 3 Euro crosses I trade - EU - EJ and EA - the EJ as been the easiest today - maybe because of the weak Yen as even UJ as been bullish as well

EA can be scary on scalps - such a quick mover in both directions - but if you catch it right - it a real great scalpers pair

EU - as normal - nice move up etc - but so much manipulation on the most traded pair make it not the easiest pair to trade - even for experienced intraday traders - i have more small losses on this pair than I do on others