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

[Forexmospherian]

EJ

7 11 am

Similar to the EU - the EJ as been a nice scalp buy from 5 am and also from 6 and 6 30 am TW's

Its risen so far 120 pips with APPROX 50 pips from the 6 30 am TW and over 20 pips from after 7 01 am

This week I am still trying to take new scalps after the hour and half hr change - rather than start them at 9 mins to both the hr and 30 min frame changes - just to be careful with so much going on in the markets etc etc

30% stake trades I am not too bothered about and now looking at reducing one of my accounts down to under $12k and using stake sizes of between 2-4 % - instead of normal 0 3 to half a percent of capital on lot larger account

Please do not do this - as 7 -10 bad consecutive trades can wipe out nearly half your account - but thats a risk I dont mind taking on smaller live accounts - but NOT advisable for normal FX traders - stay well under 2% stake size - especially on tight stops

 

[Forexmospherian]

Re: key levels....


Morning F, hope all is well and had a good weekend....


I was wondering if you could explain how you determine your levels.... is it on a higher time frame? round number?

Can you attach a screen shot with an example?

thanks

Yes - and will do later

For intraday trading I get all my scalp levels off the tick and 1 min charts

I view the 30 min and even 1 hr plus for the bigger picture of main S & R areas - but I am off interim intraday areas - that can act as spring boards or walls for say 5 -15 pip bounces

For example the EU as 2 at 1220 /25 and also 35 /40 areas with interim supports 1180 /90 area

Have a good day

EJ been a cracker so far - pity was not up trading before 6 00 am ;-)

 

[Forexmospherian]

Around this morning for London Open at 8 00 am and will try and stay for a start until at least 9 -10 am time.

Will cover some more pairs in next half hr as well

 

[Forexmospherian]

7 22 am

We can see the yen weakness so far in the morning session as both the EJ and UJ both had nice scalp buy rallies. Not traded the UJ so far this morning - and now up at 118 15 area.

Above 118 00 that is still in scalp buy mode - but needs to break above 22 and 27 to stay with it

 

[Forexmospherian]

EU

7 31 AM

Entering an interim support area around 1192 to 95

Too early to scalp buy again just yet - see if we can by end of TW at 7 39 / 40 am

 

[Forexmospherian]

Sorry

7 36 am

Missed a quick scalp buy on EU as went with GU after 7 30 am - and so far thats just done 9 pips and another high at 5030

Pullbacks staying above 5021/ 2 are scalp buys again

 

[Forexmospherian]

7 46 am

I would like to see the EJ now above 132 60 - the GU above 5035 and EU above 1219 ??

That would be nice - not in all 3 - but EU from 1201/2 and GU above 23

 

[Forexmospherian]

EU

7 52 am

So far peaked to 1219

1206 /08 is interim support - 17 -19 R area

I am out 70% stake now

 

[Forexmospherian]

7 58am

Only on 30% stakes for hour change on GU and EU

 

[Forexmospherian]

7 46 am

I would like to see the EJ now above 132 60 - the GU above 5035 and EU above 1219 ??

That would be nice - not in all 3 - but EU from 1201/2 and GU above 23

Hindsight is easy

The EJ would have been better than GU - but all made above my levels with EU now up at 42 and GU at 5042

Having that closing 30% stakes now

 

[Forexmospherian]

8 02 am

Ideally want some pullbacks on all 3 - so I can scalp buy again

My try a quick scalp sell on one pair -- but structures for this last 30 mins favour buys over scalp sells still

 

[Forexmospherian]

Sorry not covered a few other pairs over last hour - the EU / GU and EJ have kept me busy

Will during this next hour do some updates etc on UCad / UJ / AU etc etc

 

[Forexmospherian]

EU

8 10 am

I think we need to stay above lowest 1206 and ideally 1212 for more scalp buy bounces etc

We might not then make a new HH over 1244+

Under 1212 and 06 would be still scalp sells with then interim supports at the 1190 /95 area again

 

[Forexmospherian]

GU

8 14am

This pair needs to stay above 5013 to 16 to still look at more scalp buys - and then have another go trying a new high above 5047 and 50

Its been a great 90 mins for me - especially for a Monday morning - not planning to go mad scalping - just will wait for more nice set ups etc etc

Back after 8 30 am now

 

[Forexmospherian]

EU

8 30 am

Looks like we cannot make over 1250 for now

Not taken scalp sell in this window - as did not want to be in it at 100% at exact half hr change

Bounces staying under 46 are sells again with interim supports at 1222 and 1215/ 17 - 1212 an 1206

 

[Forexmospherian]

8 33 am

UCad

Will do a quick review on this main dollar pair

Price atm at 2454 - at at highs of year etc

We need to drop under 2433 and 25 to be holding on to scalp sells and above 47 we are still scalp bullish and trying higher

 

[Forexmospherian]

Dont forget red EU news at 9 00 am - less than 25 mins from now

Will pop back in that TW

 

[dearlife1989]

Head and Shoulders on EU?

 

[Forexmospherian]

Head and Shoulders on EU?

Yes - on small frames over last hour

We have red news on it in 6 mins now - otherwise under 1250 and 46 its a scalp sell

 

[Forexmospherian]

EJ

9 06 am

Topping for now at 133 00 area

After 9 00 am like EU a scalp sell

Both slow for now