A Master Class in FX Intraday Trading by F & Co

[FXWorx]

Thanks

As a newbie I find EA a bit of a beast at times but R:R is great.

 

[Forexmospherian]

6 54am

With regards to longer term action - I have been reading many expect the AU to become a good buy and the EA to carry on dropping - all based on the daily weekly / monthly view

That well may be the case but the problem is - before any proper new direction - you can still have a 50 or 80 or even 130 pip move in totally the opposite direction to the weekly or monthly view - simply because your bias is swayed by the bigger picture - rather than what we are interested in - ie the "now" ie the next 15 - 60 mins so that we can have tight stops and winning trades with great RR's

A 150 pip stop and a move of 500 pips in a week or 7 days is just a nice winning trade with a RR of 3+

I want to make that type of return in 15 mins - ie - a 17 pip move off a 5 pip stop - that's the difference and then if one of the partials off a scalps go on to make 100 to 250 or even 500 pips over the next week - great ;-)

 

[Forexmospherian]

Morning Guys - Nice Going Nick!

Morning FXW

Have a good week and GL

Out today at 7 50 am for approx 30 mins and then after 9 30 am again

With so many Bank Holidays today - I reckon need to put more emphasis on the morning session - in case the US one is really slow

Regards


F

 

[Forexmospherian]

Watch out for any spikes again at exactly 7 00 am and then again at exactly 8 00 am - for both opens

 

[FXWorx]

6 54am

With regards to longer term action - I have been reading many expect the AU to become a good buy and the EA to carry on dropping - all based on the daily weekly / monthly view

That well may be the case but the problem is - before any proper new direction - you can still have a 50 or 80 or even 130 pip move in totally the opposite direction to the weekly or monthly view - simply because your bias is swayed by the bigger picture - rather than what we are interested in - ie the "now" ie the next 15 - 60 mins so that we can have tight stops and winning trades with great RR's

A 150 pip stop and a move of 500 pips in a week or 7 days is just a nice winning trade with a RR of 3+

I want to make that type of return is 15 mins - ie - a 17 pip move off a 5 pip stop - that's the difference and then if one of the partials off a scalps go on to make 100 to 250 or even 500 pips over the next week - great ;-)

Exactly F - Even if it takes say 3 bad trades to get on board for say -7 or -9pips you still can get high multiples of R winners. As we speak + 17 pips on EA after LH at 5522

 

[Forexmospherian]

No 2 ways about it the EA spoils you

We have had scalp buys on the UChf and the AU last 20 mins or so - but the best scalp mover is still just the EA

Last move after 6 39 am as now dropped approx 30 pips of which 18 pips have come after 6 50/51 am
and as I type its still not stopped

 

[Forexmospherian]

Exactly F - Even if it takes say 3 bad trades to get on board for say -7 or -9pips you still can get high multiples of R winners. As we speak + 17 pips on EA after LH at 5522

WD - FXW and now a lot more pips in your bag since when you posted

5475 - 85 is all interim support next on the EA

 

[Forexmospherian]

EA

7 09 am

Its stopped above the support area

Its a minor scalp buy above 91 - but i would expect to sell it again - ideally before 5510 area if it does try much higher

 

[Forexmospherian]

UChf

7 15 am

Not a pair I normally scalp - but I watch it constantly for the opposite correlation on the EU

Today from 5 51 am its been a nice easy scalp buy - and consistent with nice PA etc etc

Trouble is in over 70 mins its only moved up 13 pips - thats maybe why i dont scalp it much

 

[Forexmospherian]

AU

7 19 AM

With the EA falling well last 40 mins - the oppositely correlated AU as been rising - and its not been to bad a rise - ie approx 19 pips - which is not that bad for the AU

Both seem to be looking for turns again next

 

[Forexmospherian]

EU

7 21 am

Slow and messy PA with a 9 pip drop so far in last 50 mins

Price around 1366 atm - just about coming into its LiTS area - so awaiting the LO I reckon

 

[Forexmospherian]

GU

7 28 am

Above its LiTS and from after 7 09 am we have had a rise to a new morning high - so far at 5339

Pullbacks staying above 31/2 are buys again for now

 

[Forexmospherian]

EA

After 7 21 am it tried down again breaching interim supports at 75 -85 area and now its dropped to 5468 and made a bounce

Under 92 its still a sell again - but 7 30 am was a scalp buy above 70

 

[Forexmospherian]

Going to get ready to pop at out at 7 50 am but will update just before I go - as will be out over 30 mins and will miss the LO start

 

[NVP]

hey gang

I have to be finished in a few minutes as other things to do but trading at moment

selling usd in pairs at moment but very conscious of the support level and will hope for a bounce soon to buy it

N

 

[NVP]

7.39 the bounce buy signal on usd

 

[NVP]

small opp on GU sells ............at present the main move is selling usd into aussies

 

[NVP]

euro running tight to usd ............nadda opps for me

 

[NVP]

small opp on GU sells ............at present the main move is selling usd into aussies

gu down to 37........gbp under pressure ......usd flatlining at moment

 

[NVP]

Europeans look weak .............usd really trying to go bull