Intraday Live short term trading calls from an Expert Retail Forex Trader

[MajorMagnuM]

Could you have shorted again at 10:52 (1.3199) when the price kept below the 3 quick lr's? The main lr structure (longer lr's) are all still in reverse order at this time saying down. I didn't take this trade nor i'm I close to being an expert but thats my take on it. Whats your thought's MM & F?

yes i think so, but as mentioned by that point we are so far from the top i feel i cant just join the party as the r/r is stuffed. However i doo see that i should have been looking at closer interim resistance not being breached and count that as my top, i think ive been obsessing too much on catching very tops or nothing. this i must change i guess

 

[johnradical]

yes i think so, but as mentioned by that point we are so far from the top i feel i cant just join the party as the r/r is stuffed. However i doo see that i should have been looking at closer interim resistance not being breached and count that as my top, i think ive been obsessing too much on catching very tops or nothing. this i must change i guess

I know what you mean MM, I find it difficult to join the party on the way down as I have burnt myself so many times joining the party to late!

 

[Forexmospherian]

Hi MM and JR

Will do a EU chart for today - then will do some TW explanations etc

Not been here to trade it - but I reckon I would have easily done my daily target today off EU / GU and EJ

Early tea and then will post it and explain how I would have looked at it

 

[MajorMagnuM]

Hi MM and JR



Not been here to trade it - but I reckon I would have easily done my daily target today off EU / GU and EJ

Early tea and then will post it and explain how I would have looked at it

I have no doubt!

 

[Forexmospherian]

EU - Thursday 28th Aug - 5 Key Time Windows

Chart Explains a few points - but will go into more detail on EU today

Starting from 8 00 am - although I normally try to start trading from 6 30 am

We had a false new morning high at approx 8 10 am - 1 min past end of TW - that was a nice 15 + pip scalp buy in approx 9 -10 mins - perfect SSS - sweet spot scalp

But it was false - to get bulls in

We then had a new morning low for 9 00 am - then the key - a bounce to 9 30 am for a LH and confirmations of start of fall

Price had tried to overcome R's at 3215 -20 - but no luck.

Next LH at 10 09 /10 am and then a drop to 11 30 TW and another buy opportunity at 11 39 am - end of half hr TW

That approx 90 min fall was worth 41 pips - not a lot - but it is in today's EU market in just 90 mins

So if you got say 30 or 35 pips off a 5 pip stop - then RR of 6 or 7 in 90 mins - that is efficient trading.;-)

I then note 1 09 pm another sell and then 3 51pm the confirmation of scalp buys again - ie HL / Time / LR's etc etc

We would need above the 3190 - 3200 R area to try up again - otherwise we will test the 3160 support area.

We all know in hindsight - trading is easy - but with time windows and a bunch of other clues from price action to price structure - etc - then it can help you catch the right scalps and make you happy ;-)

 

[MajorMagnuM]

ty for this. You have marked LL. this is also HL compared to 09:00 low
the wave up from 08:56 satisfied all the requirements for further highs. it broke above a bullish longer lr set and as such would tis not have been difficult to justify shorting at 09:40?

ditto for 10:20 with the addition of a higher low aT 10:00 am to add to reasons not to short?

 

[MajorMagnuM]

I think the problem im having is i am seeing reasons for shorting and going longas i read the charts and it doing my feccing nut in

 

[MajorMagnuM]

Chart Explains a few points - but will go into more detail on EU today

Starting from 8 00 am - although I normally try to start trading from 6 30 am

We had a false new morning high at approx 8 10 am - 1 min past end of TW - that was a nice 15 + pip scalp buy in approx 9 -10 mins - perfect SSS - sweet spot scalp

But it was false - to get bulls in

We then had a new morning low for 9 00 am - then the key - a bounce to 9 30 am for a LH and confirmations of start of fall

Price had tried to overcome R's at 3215 -20 - but no luck.

Next LH at 10 09 /10 am and then a drop to 11 30 TW and another buy opportunity at 11 39 am - end of half hr TW

That approx 90 min fall was worth 41 pips - not a lot - but it is in today's EU market in just 90 mins

So if you got say 30 or 35 pips off a 5 pip stop - then RR of 6 or 7 in 90 mins - that is efficient trading.;-)

I then note 1 09 pm another sell and then 3 51pm the confirmation of scalp buys again - ie HL / Time / LR's etc etc

We would need above the 3190 - 3200 R area to try up again - otherwise we will test the 3160 support area.

We all know in hindsight - trading is easy - but with time windows and a bunch of other clues from price action to price structure - etc - then it can help you catch the right scalps and make you happy ;-)

I don't want to say thankyou for this but THANKYOU for this. Reason being It lets me know im sh1t. which is no bad thing to know. I am so far away from this level of expertise i am genuinely frightened and know my efforts to date are very uni dimensional and need expanding massively. I know ill be thinking about how to develop this all evening. my first thought is im not seeing / prioritizing current price action in larger context.

 

[Forexmospherian]

ty for this. You have marked LL. this is also HL compared to 09:00 low
the wave up from 08:56 satisfied all the requirements for further highs. it broke above a bullish longer lr set and as such would tis not have been difficult to justify shorting at 09:40?

ditto for 10:20 with the addition of a higher low aT 10:00 am to add to reasons not to short?

Sorry MM - lost on this one

The fact that we never went above 3220 /1 R area and then did 2 LHs - Second one at 9 30 am - you could only hold any scalp buys then above the 9 30 am high - otherwise - you have confirmations for further sells under the 9 30 am high along with a low at 9 00 pm

From 8 10 am to 9 00 pm was start of down turn confirmed after 9 30 am with the low high - which was not then breached

For me this PA is all scalp sell signs along with thick green under dotted green - saying start of down turn

Then when the green dotted went under white dotted - ( circled on chart) that was extra confirmation price was in bear mode with LR's confirming it

Hope that helps

Regards


F

 

[Forexmospherian]

Friday 29th August 2014 - Pre Opens

GM - Intraday FX Traders

Last trading day of the month - and first for me for a week after a too brief a Holiday break.

Will do reviews and updates on the FX pairs I plan to Intraday Trade today - cannot always call every scalp I might take - especially the ones that only last 1- 3 mins - but will be explaining the levels along with the bias I plan to take reversal scalps along with my normal targets of 7 -25+ pips - ideally under 30 mins

All trades are with stops under 7 pips - with most pairs with spreads under 1 pip on 3-5 pip soft stops - helped by lower volumes and slower smaller moves.

Timing and levels - both dynamic and horizontal static ones are key

Not around all of day - but a few hours this morning and then later in early US session

3 main red news announcements today from 10 00 am to 3 00 pm on Euro then both Cad and US dollar.

Lets see if we can make this Friday a good one ;-)

All the best and GL

Regards


F

 

[Forexmospherian]

EU

So far a HL from the year / monthly / weekly low at 3151 at 3160 - but if we dont breach above 3190 and 3200 R area - then we will be testing theses Lows again for 3120 and even 3100 and under.

Presently a scalp buy from 6 00 am TW and 3174/5 - but would need above 82 and 85 to hold on for test on 3190 /3200 barrier

Under 72 and 68 - more scalp sells to test 60 and 50

 

[Forexmospherian]

GU

Been a difficult pair this last week - stuck mainly in the mid 6500 area with a brief test above 6600

Supports from 6550 / 60 /70 and 80 areas - but resistance levels from 6595 to 6615

Like EU - a scalp buy from 6 00 am TW but needs 88 and 91 to then try the 6595/6600 area

Scalp sells start from under 6579 and 76 - but remember then all the interim supports

So really we need either above 6620+ to believe it want to try higher - or under 6550 and then 6530 to think it might be back to the down bias and lower under 6500

 

[Forexmospherian]

EJ

Normally one of my favourite intraday pairs - when PA is nice

This morning clear bullish for me above 136 70 - but PA not too nice and we need to test above 85 and 90 to hold scalp buys on longer

Under 77 might then see scalp sells and test on 136 70 area and under 69 and 64 - then hold scalp sells on for lower

 

[Forexmospherian]

6 57 am

EU - never made over 3180 - and 77 became another scalp sell than can be held on under 73 and 69.

 

[Forexmospherian]

Cad and Swissy - both in scalp bull bias - but need to breach the R areas - on Ucad at 0865/70 and Uchf at 9165 +

 

[Forexmospherian]

7 09 am - end of hr time window

Down to 30% stake on scalp sell on EU and will keep on under 3177

caught EJ scalp sells late so just in and out at 72

 

[Forexmospherian]

7 18 am

EJ interesting - being manipulated here

My line in the sand is 136 70 - above favour scalp buys - under - bias changing on scalps -

Price made 67/68 and now we need to see if bounces back over 70 - stay above that level - or whether we test under 67 and look for more scalp sells

 

[Forexmospherian]

7 30

Put 30% stake on scalp sell on EU stop down now to 72 - and might look at exiting in next 9 mins - to then sell again from higher after maybe a scalp buy

Need to see 59 and 52 really to hold on

 

[Forexmospherian]

EJ

Stayed under 136 70 and therefore still in another scalp sell - but like EU - next 7 -9 mins will look at exiting if not under 58

 

[Forexmospherian]

EJ

Out 100% at 60/61

Will stay with EU on 30% whilst under 67