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

[MajorMagnuM]

EA - interim top was outside the TW - from 5 44 pm

But confirmed at 5 51 pm - with LH's and LL's and 3 white quick lrs all over from 4340 and so far made 27


Sorry lost again with your no LH and LL's ???

the white lr over yes, but the rest were underneath and as such wld you have advised to leave the sell?

 

[Forexmospherian]

well. higher low at 5pm, higher highs at 1725 and 1742. no lower lows until a few mins ago. certainly none at 51 mins

Totally confused ??

The trade was a sell from 5 43 /44pm

first LH at 4341 at 5 44.45 pm and then a LL at 5 46 pm

?????

 

[MajorMagnuM]

?

You can sell under 67 and 64

i dont see this. all lr bullish?

 

[MajorMagnuM]

Totally confused ??

The trade was a sell from 5 43 /44pm

first LH at 4341 at 5 44.45 pm and then a LL at 5 46 pm

?????

ok. what this means is i see wave highs and lows. you are using each candle as higher/ lower marker etc? How have i managed to misunderstand this

 

[Forexmospherian]

the white lr over yes, but the rest were underneath and as such wld you have advised to leave the sell?

Yes agree but you are scalping - so sell and then low 65 and 66/7 another scalp buy with white LRs under

Can only hold scalps sells under 65 and 61 - and by then under yellow lrs with white

If you are looking for longer trades - I would agree you wait for topping and high lasting 30 mins etc etce

 

[MajorMagnuM]

totally confused ??

The trade was a sell from 5 43 /44pm

first lh at 4341 at 5 44.45 pm and then a ll at 5 46 pm

?????

this

 

[Forexmospherian]

being shouted at - Tea time

Might see you later MM

Take care

Regards


F

 

[Forexmospherian]

this

NO

You are reading it as a swing trader - not a scalper here

The trendline up was broken - and then LH's and LLs'

Agree for swing trading PA - different

But for scalping - any move over what 5 -10 pips is money in the bank ;-)

 

[MajorMagnuM]

being shouted at - Tea time

Might see you later MM

Take care

Regards


F

BUT YOU ARE saying

 

[MajorMagnuM]

NO

You are reading it as a swing trader - not a scalper here

The trendline up was broken - and then LH's and LLs'

Agree for swing trading PA - different

But for scalping - any move over what 5 -10 pips is money in the bank ;-)

i get confused

 

[MajorMagnuM]

so basically i ve been taking swing entries and taking profit on scalp criteria.
Off to find large stones to bash own brain in with

 

[MajorMagnuM]

and uc explodes

 

[MajorMagnuM]

jesus wept. tried to get on eu sell, but as soon as i entered it went back 5 and killed me.

 

[MajorMagnuM]

SO based on this, i bought after the low was establish at end os time window. as the chart shows. we have a higher high. stops hit again

 

[MajorMagnuM]

So, by transposing this onto the EA example, we can see that ea could easily have continued up.
in the EJ example, i would have needed above 025 before a buy.
on the Ea example, just as in the ej example, the LH min by min could have failed to go down just as the ej example failed to go up after making a hh

 

[MajorMagnuM]

Note the ej then went on to make a lower low at 18:50, then 18:53 was a higher high. Now its about to make a lower low again. Following this i would have had to go short, get knocked out by the higher high. Then gone long because of the higher high, get knocked out by the current candle.

 

[MajorMagnuM]

AND FINALLY THE LOWER LOW At 18:50 ALSO IS ACTUALLY A HIGHER LOW COMPARED TO 1702 LOW!!!

 

[MajorMagnuM]

hah eu done `15 pips after taking me out. fec this im going back to demo

 

[MajorMagnuM]

Right, in order to sort out my confusion, the key question might be,
When should I be reading as a swing trader and when as a scalper
OR
When should I be comparing current price bar with swing highs/lows instead of bar by bar comparison.
Sorry for the simplicity but clearly I have a disconnect in this.
The green oval is a swing high In the diagram, I am showing that the opaque oval only becomes a higher low to the transparent oval when price crosses the white dashed line. The action in the blue triangle could still be a part of a wave down perhaps ABC corrective.
Obviouisly this is no good in scalping terms.

 

[MajorMagnuM]

Chart 2
In scalping terms, the purple box shows a higher high, the yellow one shows a higher low
so might take that buy in the yellow box, despite price in swing terms being still in a larger pattern of LL. LH, and then action that in that lager sense can be described as a retracement. But the small detail lets us see a HH HL ( boxes)