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

[Forexmospherian]

10 24 am

Back now

Since news - GU up approx 75 pips and GJ up over 120 pips - and meanwhile my favourite EJ pair is up over 50 pips since opens

Why bother with the EU ??? lol

Will do a review and post some more charts

All Yen crosses seem the same - bullish still - but that does not mean we cannot scalp sell at the correct times etc

Give me 5 mins or so and will also then look for some new scalps etc

 

[Forexmospherian]

Moving my 30% stake on buy on EJ up to 147 16 now

Price on EJ at 147 52 area - if we get a larger pullback we should still stay above 24 - but if I get taken out - its no problem as 100's of pip profit already in there - and then I would still look at more buys from a lower level at 100% stakes

 

[Forexmospherian]

EU

Look to buy again if not above 2529 - then at 2 other levels - 23/ 24 and last level say 17 /18

EU - comment from over an hour ago

Now at 10 36 am - 23 was best scalp buy level - but we cannot get over 2542 for now - which is a LH from morning high at 2547/8

I think 2520 area is key now


Above there - Price still favours trying higher with first main R's at 2550 -55

Under 2520 - then under 2510 and 2500 - all sell areas and would show maybe price is coming out of its session bull structure

Its very slow atm and we might enter now into a BTTZ on the EU

 

[Forexmospherian]

GU

Well we have seen a set up for news - just to get more bears in before price rises over 75 pips

For now we have R at 5675-80 and supports at 5642-46 area

If we drop into a range - like the EU it may become a BTTZ area - best to only scalp for a few pips - or then ignore - until new levels

 

[Forexmospherian]

GY ( or GJ ) - at 10 42 am

R area now at 184 40 -50

Supports at 183 87 to 184 00

If we drop into range - then like other pairs - maybe a BTTZ area for a few hours

 

[Forexmospherian]

EU

10 47 am#

Just made over 2542 - so now can we get above 48 - then 50 and 55 ??

 

[Forexmospherian]

GU

Well we have seen a set up for news - just to get more bears in before price rises over 75 pips

For now we have R at 5675-80 and supports at 5642-46 area

If we drop into a range - like the EU it may become a BTTZ area - best to only scalp for a few pips - or then ignore - until new levels

GU - 9 mins later from this comment and we are trying above the R area and as I type have hit 5685

Too early to say if we can continue - but over 75 still a scalp buy on pull backs

 

[NightFlight]

F, speaking of trade management, I have currently my EU SL at 2525 and EJ at 147.22. If it consolidates above 147.50, it might make sense to move it up to the recent low, just below 147.40. Obviously, your trailing might be a bit less aggressive because your position is much older and largely in profit.

 

[Forexmospherian]

F, speaking of trade management, I have currently my EU SL at 2525 and EJ at 147.22. If it consolidates above 147.50, it might make sense to move it up to the recent low, just below 147.40. Obviously, your trailing might be a bit less aggressive because your position is much older and largely in profit.

Yes - it all depends how much profit you have in trades

When I am on only 30% stakes - I am concious that even 30 pips is only like say 10 pip scalp trade at 100% stake

I never like to lose more than 50% of what I already have on trades - but thats fine on say 20 -50 pips - but on a trade up say 400 pips - I would no way want to lose 200 pips - but might risk say 120 pip over night to stay with the trade if I thought it had a lot more legs

Its very difficult to get it always right with your trade management

I think main rule - is never let a good winning trade turn into a loss - so if up 40 pips - would never let it go say 20 pips in the red

If you can get into scalping - then it makes it easy - as you can always take profits on runs - and then reenter at better prices every 30 -60 mins when the market allows you to

Also what type of daily targets are you after ??

If its under say 30 pips - then only allow bigger stops when you are well over target etc

My normal daily is 50 pip target - so until I have that in the kitty - I maybe chase very pip on the table and bank .Once I am up over it - I am more laid back etc etc

Hope that helps

 

[Forexmospherian]

11 24 am

GU

Noticed it peaked exactly at 5700 at 11 09 am

Still in a buy - but only on 30% stakes now

 

[Forexmospherian]

Will post some more charts with price structure bias etc over next hour

 

[Forexmospherian]

11 35 am

EU

2548 is interim high for now

Looks as though price is pulling back again

we need to stay above 2528 /30 now for another scalp buy

Under 2520 would be a sign of a bigger pullback and maybe a change

Over 2550 -55 would be be more buys to next R area

 

[Forexmospherian]

GU - From yesterday to after news at 9 30 am today - change of price structure

GU - 2 min LR chart - cannot get my 1 min chart to show 2 days unfortunately - but 1 min is more accurate

Note down price structure - then news up snad main key level of change - thick blue horizontal line

 

[Forexmospherian]

GU - From yesterday to after news at 9 30 am today - change of price structure

GU - 2 min LR chart - cannot get my 1 min chart to show 2 days unfortunately - but 1 min is more accurate

Note down price structure - then news up - and main key level of change - thick blue horizontal line

 

[Forexmospherian]

11 35 am

EU

2548 is interim high for now

Looks as though price is pulling back again

we need to stay above 2528 /30 now for another scalp buy

Under 2520 would be a sign of a bigger pullback and maybe a change

Over 2550 -55 would be be more buys to next R area

EU

Chart showing what happened after interim high of 2548 and then 11 21am scalp sell

 

[Forexmospherian]

That thick red LR setting on chart above is at 108 setting on this platform

It normally works between 95 and 120 settings - depends on your platform etc - but its a good indicator of wave turns intraday on a 1 min chart - but cannot be used in isolation

 

[Forexmospherian]

Midday held the EU fall at 2531 - a 17 pip fall from interim high

Now if we stay above 33/34 on the pullbacks - we might try up again on EU

 

[Forexmospherian]

12 17 pm

Next level to scalp buy if 31 lets go is between 25 and 27

Under 2520 would show we are slowly coming out of the session bullish structure - but this would only be confirmed lower - under 2497 and 2490

 

[NightFlight]

In doubt, I closed the EU long and left the EJ, mainly relying on the yen's weakness than strength of euro and tightened the SL to 147.36.

 

[Forexmospherian]

12 35 pm

Still slow atm - we do have red news at 1 30 pm - which I will try and be back for and then the real main news of the day is not until 7 00 pm tonight

Might only be around for a couple of hrs early US session - and then pop back from 6 30 pm onwards

Will also post the updated 1 min EU chart later as well

31 as not held the fall for now and so need to look slightly lower for 25 -27 area for next potential scalp buy

We would then need to see above 37 and 42 for any chance of holding another scalp buy on longer


GL - back nearer news time