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

[MajorMagnuM]

timestamp 18:25. are you thinking what im thinking?

 

[Forexmospherian]

Monday 11th May 2015 - Pre Opens

Good Morning Guys

I hope you have enjoyed your weekend and are ready for another busy week

No 6 21 am scalp for me this morning - instead a 6 30 am scalp buys on the EU and the EJ.

Not checked my Calender yet - but will before 7 00 am

Normal stuff - all are welcome to join in with comments etc connected with Intraday FX trading etc

Have a good day

Regards


F

 

[Forexmospherian]

EU

6 56 AM

Price now at 1141 after a 1149 high on the scalp buy with a HL at 1138 from a low early of 1133

The EU is in a bearish price session structure and as been a scalp sell from 6 50 / 6 51 am from its LH

Supports at 1130 / 33 and then at 1120 and 1100.

 

[Forexmospherian]

EU

7 00 am

If we place a Down TL from the NFP price high on Friday at 1288 and extrapolate it to today at approx 1200 price and continue - whilst we remain under there - then we should continue to see price fall

There will be scalp buys from interim supports - like the 6 30 am one - but until one can make over 1165 and 70 - then its looks like we need to take further scalp sells at LH's

 

[Forexmospherian]

EJ

7 06 AM

Same scalp sets ups as EU atm with price at 133 68 and rising atm from 58 HL

We need back over 134 00 and 134 20 to go into a bullish session price structure

 

[Forexmospherian]

GU

7 09 am

Price around 5422 atm and another pair that would need above 5450 to go back into a bullish price session structure - whereas under there and 5400 it would favour more price falls

Since 7 00 am - all 3 pairs - EU / EJ / GU have been scalp buys again - but only scalping 2 pairs atm

 

[Forexmospherian]

Looks like a fairly quiet day on the news front - an all day Eurogroup meeting and some red news on GU around Midday - but other than that - quiet for now

 

[Forexmospherian]

EU

7 00 am

If we place a Down TL from the NFP price high on Friday at 1288 and extrapolate it to today at approx 1200 price and continue - whilst we remain under there - then we should continue to see price fall

There will be scalp buys from interim supports - like the 6 30 am one - but until one can make over 1165 and 70 - then its looks like we need to take further scalp sells at LH's

EU

7 14 am

Price now at 1161 and my down TL is at the 62/63 level and so I think we need over 65 and 70 to stay with any scalp buys - with supports now from 43 to 48 area

 

[Forexmospherian]

Its worth checking the 30 and 60 min rules on the last interim highs and lows now for extra clues

 

[Forexmospherian]

7 28 am

I will stay with EU atm - to explain what's happening

The low of the morning so far was at 1133 at 4 30 am

Then we had a HL at 1135 - and now we have seen a HH at 1163/4 after last high at 1153

The last HL as lasted now over 30 mins - and so in time theory needs another 20 + mins before it could try under 1135 - but also as supports now at 1143/ 48 before that low

We need to see over 1165 and 70 to stay with scalp buys and we also know now more interim supports at 53 to 55 as well

So scalp wise under 53 and 48 sell to 43 or 35 - above 48 and 53 - still scalp buys needing above 65 and 70

 

[Forexmospherian]

GU

7 09 am

Price around 5422 atm and another pair that would need above 5450 to go back into a bullish price session structure - whereas under there and 5400 it would favour more price falls

Since 7 00 am - all 3 pairs - EU / EJ / GU have been scalp buys again - but only scalping 2 pairs atm

7 34 am

The EU scalp buy from 7 00 am as risen from 1140 area to so far 1168 - ie approx 28 pips

Thats a nice 30 min scalp and with a 3 or 5 pip stop - then a RR of 5 in a fairly short time period

That's very efficient Intraday trading - and if you can also do it on 2 or 3 pairs - thats all you need to make great money every day

 

[watsone]

Good morning F,perhaps you can expand on your timings please,ie 9 minute intervals 6:51,7:00,7:09 am,
then a 12 minute gap to 7:21,(assuming i've got these timings right)what are we looking for during these times? 9 minute intervals then a 12 minute interval.Sorry if you've covered this before,i must've missed it along the way

 

[Forexmospherian]

EJ

7 38 am

This pair was my other scalp buy from 6 30 am and then again at 7 01 am at 133 64

So far its made 133 91 - and I was down to 30% stakes at 82

Stick an up TL from 133 59 to 74 as you line to stay with buys for now

 

[Forexmospherian]

Good morning F,perhaps you can expand on your timings please,ie 9 minute intervals 6:51,7:00,7:09 am,
then a 12 minute gap to 7:21,(assuming i've got these timings right)what are we looking for during these times? 9 minute intervals then a 12 minute interval.Sorry if you've covered this before,i must've missed it along the way

Morning Watsone

Yes - no problem

I have had a nice start to my week and have time on my hands as not out on a school run this morning

I will explain this more now - give me say 10 mins and will go into more detail

Have a good day


Regards


F

 

[watsone]

Morning Watsone

Yes - no problem

I have had a nice start to my week and have time on my hands as not out on a school run this morning

I will explain this more now - give me say 10 mins and will go into more detail

Have a good day


Regards


F

thankyou

 

[Forexmospherian]

Key Times and Time Windows

For me - there are 2 TW's every hour and they each last approx 18 mins - and so in the 36 mins of a 60 min period I generally take maybe 85% of all my scalp trades

The most important key times are approx on the hour and half hr change

Whether its because of habit or bot timings etc - but most moves start around this time as well as most exits from intraday trades at similar time

I find at least 70% of my entries and exits on scalps are at the following 6 times - give or take 60 seconds either side - ie 00 - 09 - 21 - 30 - 39 - 51

Time alone is not enough - but if I get my quick scalping LRs line up at 6 38 am for a buy then I would be looking at buying at 6 39 am

Normally al interim highs and lows are formed around a KT in a TW - not every one - but a high proportion

I dont take 6 scalps every hour - some times it might just be 1 or 2 - but they are guidelines to focus on for spotting changes in price

A typical scalp might start at say 7 51 am or 8 00 am and then finish by 8 09 am or 8 21 / 8 30 am

The 12 mins in between the time windows should be the moves carrying on in there respective directions

Also if you have a quick move of say 10 or 20 pips in say just 5 or 10 mins - if it stops at a KT - exit - or be ready for a change in direction again

KT's and TW's are also part of my 30 and 60 min interim highs and low time rules

ie if an interim high or low holds for 30 mins with no breach - that favours a change in direction again - rather than a continuation - like the EU lows just befor 7 00 am this morning

Lows and highs if not breached in 30 mins - need then another 20 -30 mins to be tested again - thats if they are tested.

Remember though - Timing is important for scalping - but KT's etc are just ONE component - along with PA - my LR's - TL's interim levels etc etc


hope that helps


Regards


F

 

[Forexmospherian]

8 01am

Only in the EJ on 30% stake on buys - exited the EU early on after making my daily target - that was a nice last 90 mins

Will update and review again this hour

 

[Forexmospherian]

I am pleased I traded the EU and EJ - as the GU was not quite so easy and the PA was a bit ugly and bitty

Worth checking all 3 pairs to see what I mean

Not really looked at other pairs - but will be doing this hour

 

[Forexmospherian]

Since 7 01 am when I entered my second EJ scalp buy - price as now made up approx 63 pips

Thats a great move for a Monday morning

 

[watsone]

For me - there are 2 TW's every hour and they each last approx 18 mins - and so in the 36 mins of a 60 min period I generally take maybe 85% of all my scalp trades

The most important key times are approx on the hour and half hr change

Whether its because of habit or bot timings etc - but most moves start around this time as well as most exits from intraday trades at similar time

I find at least 70% of my entries and exits on scalps are at the following 6 times - give or take 60 seconds either side - ie 00 - 09 - 21 - 30 - 39 - 51

Time alone is not enough - but if I get my quick scalping LRs line up at 6 38 am for a buy then I would be looking at buying at 6 39 am

Normally al interim highs and lows are formed around a KT in a TW - not every one - but a high proportion

I dont take 6 scalps every hour - some times it might just be 1 or 2 - but they are guidelines to focus on for spotting changes in price

A typical scalp might start at say 7 51 am or 8 00 am and then finish by 8 09 am or 8 21 / 8 30 am

The 12 mins in between the time windows should be the moves carrying on in there respective directions

Also if you have a quick move of say 10 or 20 pips in say just 5 or 10 mins - if it stops at a KT - exit - or be ready for a change in direction again

KT's and TW's are also part of my 30 and 60 min interim highs and low time rules

ie if an interim high or low holds for 30 mins with no breach - that favours a change in direction again - rather than a continuation - like the EU lows just befor 7 00 am this morning

Lows and highs if not breached in 30 mins - need then another 20 -30 mins to be tested again - thats if they are tested.

Remember though - Timing is important for scalping - but KT's etc are just ONE component - along with PA - my LR's - TL's interim levels etc etc


hope that helps


Regards


F

Thanks for explanation.
As the L.R. lines are derived from current price(presumably) why not just look at a naked chart?