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

[Forexmospherian]

I am done for the day mate...be good.

Hope it was a good one

See you tomorrow

Regards


F

 

[Forexmospherian]

1 34 pm

GU

went under 45 / 39 and 37 - all scalp sell prices down to 5811 area - and since 1 00 pm TW - its been another scalp buy above 5814

Now its touched 40 - so previous supports of 39 -45 are now R's

Pullbacks staying above 25 can be looked for more scalp buys again - but we need now over 45 and 50 to think a proper turn is on

 

[Forexmospherian]

The EU as now got back in sync with GU since the 1 00 pm TW - both have been scalp buys

With EU we need over 2496 and 2503 for a larger move up

supports for now at 65 to 70 area - and above 73 look for more buys on pullbacks

 

[Forexmospherian]

The EU as now got back in sync with GU since the 1 00 pm TW - both have been scalp buys

With EU we need over 2496 and 2503 for a larger move up

supports for now at 65 to 70 area - and above 73 look for more buys on pullbacks

EU now at 1 45 pm

We dropped out of scalp buy zone under 73 and now testing supports at the 65 to 70 area

Now we need to see over 81 to hold any scalp buys on longer and so under there is a sell - but above 2465 a scalp buy - so a BTTZ

We need to see clear breaks now - ie under 65 and 60 to look at more sells - or back over 81 - 90 and 96 for taking new scalp buys

In between - tease zone to psych you and your money out

 

[Forexmospherian]

EJ

exited 30% stake on sell after 10 00 am - as its back to scalp buys

Would need back over 80 /85 to think a turn is on - so we should be able to sell again under these levels- depends on time and PA etc

EJ comment from nearly 4 hrs ago

Well we made 83 just before 11 30 am and since then dropped to 46 as the low again

Now at 55 and under 63 can still be looked upon in another sell mode

 

[Forexmospherian]

F

When you have a bit of time could you please explain to me what do you consider or what are you looking for at a specific bounce level for you to enter a trade? Thanks, I will read it tomorrow my time. Ta.

F

Yes will do later on today

Regards


F

 

[Forexmospherian]

3 00 pm

For the last hour both EU and GU have been falling

I thought the GU might bounce above 5825 - but in failed to and under 5820 was more scalp sells

Similar with EU - under 75 then 65 then 60 - all more scalp sell areas as interim supports fail to hold

For now we cannot get under 2445 - but would need to see current bounce back above 2470 to think a turn up is on the cards again for this next hour

See you later

 

[Forexmospherian]

3 04 pm

Gu bouncing from 5800 support area - need over 23 to think a turn is being tried and of course low holding for 30 mins with no breach

GL and be back in before 4 00 pm

 

[NVP]

hey all ..

usd has been ranging for the last 7-8 hours in truth ..........so nothing like the nice sells through the Asian session................

in the last half hour the usd bounced north off its daily lows....... so be warned some buying may be now in evidence for next few hours

later.....still tied up on other things ..grrrrrrr
N

 

[NVP]

hey all ..

usd has been ranging for the last 7-8 hours in truth ..........so nothing like the nice sells through the Asian session................

in the last half hour the usd bounced north off its daily lows....... so be warned some buying may be now in evidence for next few hours

later.....still tied up on other things ..grrrrrrr
N

usdcad is the current lead buy if this develops

 

[neil]

Broker -stops

3 04 pm

Gu bouncing from 5800 support area - need over 23 to think a turn is being tried and of course low holding for 30 mins with no breach

GL and be back in before 4 00 pm

What broker do you use to enable the use of tight stops please?
Apologies if I have asked this before.

 

[Forexmospherian]

Will check out and update on other pairs now before I pop out

AU - for me still session bullish above 8685 area

UCad - under 1350 - session bearish - favours scalp sells on pullbacks

Quote prior to London Open this morning

If you could have got a scalp into a 30% stake trade with stop in a few pips profits - these 2 would have done you well over the last 9 hrs

AU at one time up 60 pips from price mentioned and Cad down 70 pips - 130 pips and even 80 -100 pips would have been very nice off them ;-)

 

[Forexmospherian]

What broker do you use to enable the use of tight stops please?
Apologies if I have asked this before.

Hi Neil

Main brokers been using last 2 years have been Dukascopy and FXPro and prior to then have used Pepperstone and GFT UK

For scalping I use one click in and out and soft stops - ie from 3 to 7 pips and only use hard stops out of range when required ie 20 -25 pips away so not to be caught on occasional 5 -7 pip spikes .

Even if I go over 2 pips into the red I will look at closing the trade as entry and timing is paramount so expect to see price go into profit within 30 -60 secs of entry - but remember spreads only 0 2 to 1 pip max on most pairs I trade.

I am trying LMAX as well and if I can get a better deal than I have - I would move to them

I basically tell the broker what I want - and if they cannot provide - then I go somewhere else. Obviously money helps and if you are going to trade from over $25 or $50k + capital accounts they will try and accommodate your requirements etc - as they know if they dont - some other ECN broker will

Hope that helps Neil - no problem and good trading

Regards


F

 

[Forexmospherian]

F

When you have a bit of time could you please explain to me what do you consider or what are you looking for at a specific bounce level for you to enter a trade? Thanks, I will read it tomorrow my time. Ta.

F

Hi Fugazsy

Bounces on bear rallies and retraces on bull moves up normally happen after a quick 5 -15 pip move within a few minutes - ie It pulled traders in - and now it wants to take their money off them

The levels normally are at interim S & R - either static horizontal - pivot / Fib levels etc - or dynamic levels off trendlines in triangles etc

If these tie up with a TW window and ideally the 6 important times - ie 9 mins to hr / hr change / 9 mins past hr / 21 mins past / half hr change / 21 mins too new hr - then high probability of bounces or retraces

just 1 -5 pips - you might not be interested in - but 5 -15 pip bounces / retraces in under say 10 to 15 mins are brilliant scalp trades - especially if taken off a small tight stop - so allowing you to make a RR of 2 +

Timing is paramount

I use LR's - price action - price structure from last 30 or 60 mins and the actual time along with seeing a possible stretch in movement - ie OB or OS on the small time frames to judge if I can get a 7 pip plus new move

If I enter and it does not happen - I just take what I can get - ie over 3 pips and if I get it totally wrong I normally know under a minute or two

Hope that helps

You do need a scalping friendly ECN / straight through execution type broker with spreads on key pairs under 0 5 pip + small commissions on size etc on size of stake

This is always negotiable depending on your volumes, how much you moan and demand - and also you size of wad ;-)

Regards


F

 

[neil]

Hi Neil

Main brokers been using last 2 years have been Dukascopy and FXPro and prior to then have used Pepperstone and GFT UK

For scalping I use one click in and out and soft stops - ie from 3 to 7 pips and only use hard stops out of range when required ie 20 -25 pips away so not to be caught on occasional 5 -7 pip spikes .

Even if I go over 2 pips into the red I will look at closing the trade as entry and timing is paramount so expect to see price go into profit within 30 -60 secs of entry - but remember spreads only 0 2 to 1 pip max on most pairs I trade.

I am trying LMAX as well and if I can get a better deal than I have - I would move to them

I basically tell the broker what I want - and if they cannot provide - then I go somewhere else. Obviously money helps and if you are going to trade from over $25 or $50k + capital accounts they will try and accommodate your requirements etc - as they know if they dont - some other ECN broker will

Hope that helps Neil - no problem and good trading

Regards


F

Thanks F. Much obliged

 

[Fugazsy]

Hi Fugazsy

Bounces on bear rallies and retraces on bull moves up normally happen after a quick 5 -15 pip move within a few minutes - ie It pulled traders in - and now it wants to take their money off them

The levels normally are at interim S & R - either static horizontal - pivot / Fib levels etc - or dynamic levels off trendlines in triangles etc

If these tie up with a TW window and ideally the 6 important times - ie 9 mins to hr / hr change / 9 mins past hr / 21 mins past / half hr change / 21 mins too new hr - then high probability of bounces or retraces

just 1 -5 pips - you might not be interested in - but 5 -15 pip bounces / retraces in under say 10 to 15 mins are brilliant scalp trades - especially if taken off a small tight stop - so allowing you to make a RR of 2 +

Timing is paramount

I use LR's - price action - price structure from last 30 or 60 mins and the actual time along with seeing a possible stretch in movement - ie OB or OS on the small time frames to judge if I can get a 7 pip plus new move

If I enter and it does not happen - I just take what I can get - ie over 3 pips and if I get it totally wrong I normally know under a minute or two

Hope that helps

You do need a scalping friendly ECN / straight through execution type broker with spreads on key pairs under 0 5 pip + small commissions on size etc on size of stake

This is always negotiable depending on your volumes, how much you moan and demand - and also you size of wad ;-)

Regards


F

F

Thank you

All clear but not the one in red, could you tell what do you mean:
a) what is a TW window
b) You mean a retrace or a bounce have more probability to succeed if it happens in those 6 timeframes? And why is this?
c)And when you say "21 to a new hour" or "9 minutes pass hour" do you mean it need to happen precisely in that minute to be an high probably trade?

Regards
F

 

[Forexmospherian]

F

Thank you

All clear but not the one in red, could you tell what do you mean:
a) what is a TW window
b) You mean a retrace or a bounce have more probability to succeed if it happens in those 6 timeframes? And why is this?
c)And when you say "21 to a new hour" or "9 minutes pass hour" do you mean it need to happen precisely in that minute to be an high probably trade?

Regards
F

Hi Fugazsy

a). TW - time window - a period in the hour when there is a higher probability of a price direction change. There are 60 mins in an hour period so you would think every minute as a 1.7 % chance of a direction change - but in reality - the 2 x 18 min TW periods maybe have a 80% probability and then the 6 minutes of the 36 mins have a 50% of the 80% ie 40% divided by 6 = nearly 7% chance of something happening in each of those 6 mins - ie better odds etc

b) Reason - might be bot timings - ie so much automation in placing orders etc

c) ideally in that 60 second period of the 6 key minutes but might be 30 seconds either side of the 1 minute - some days its always in the 1 min period

Remember nothing is 100% but if many factors all occur at the same time - then higher probability of a new small or large direction change

Hope that helps

Have a good day

Regards


F

 

[Forexmospherian]

Thursday 13th November 2014 - Pre Opens

Good Morning all FX Intraday Traders

I have a busy morning on some domestic jobs - so instead of me covering at least 4 hrs between now and lunchtime - it might only be less than 2 hrs

Out at 7 45 am for 45 mins for a start

Will do a normal quick update and review on key pairs I plan to trade - or already trading and then will update after 9 00 am

Have a good day

All the best - and any FX related questions etc - feel free to ask etc

Regards


F

 

[Forexmospherian]

EU

6 51 AM

After nearly making 2500 yesterday - price dropped to 2419/20 area and then over the last 12 hrs as tested 2450 /55 - but as so far failed to break higher

Currently 2444 and a scalp sell under 2450 from 6 30 am TW

Supports at 2436 to 41 initially

 

[Forexmospherian]

GU

6 56 am

Price as dropped from 5940 area down to current low of 5760 ish - over 170 / 180 pips and last 10 hrs is a range of only 20 pips approx

We need above 5780 and 90 to be looking at taking scalp buys and under 5755 and 48 for taking or holding scalp sells on longer

In between - will just wait rather than scalp atm