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

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7 15 am

Shame - should have taken scalp buys at 7 00 - 7 01 am - as they were strong and have taken out my 30% stakes set with stops in profit

Thats why its important to take a larger proportion out as a scalp - approx in total 27 pips on both EU and EJ at 70% is what I banked and then left with another 15 pips on 30% out the 2 stopped out.

Although that adds up to 42 pips - in reality - 15 pips profit at 100% stakes and then 27 -15 = 12 pips on 70% stakes

In theory i could allow the 30% stake a larger stop - and still be in a profit situation out of the 70% part - but prefer to always try and get my stops in at least 2 pips of profit after a scalp - 5 + is even better
 
All four pairs I have mentioned so far are more in bullish price sessions for now - showing dollar weakness for now

As you might guess the Uchf as seen price falling - but UJ in a bullish session - like the EJ showing maybe yen weakness.
 
GU

6 53 am

Further rises yesterday - 5 days after the UK Election - although only 3/4 days for the market

Topped so far yesterday at 5611/12 and guess at what time it stopped and pulled back ?

Yes exactly 6 39 pm - and you might have seen in this thread - Major Magnum - nailed it and sold at 5611 - top class scalping and verified by his live statement for all the members here who just don't believe anything we do is possible or true.

Since then we have not been able to get under 5564 and supports have formed around 5565/7 area

Price now at 5573 after a LH at 5583/4 in this hour

The first scalp sell did not line up so well as the EU and EJ but was more like after 6 27 and 6 30 am from around 5580

Not it that one but still in the EU and EJ scalp sells - although now dropped to 30% stakes and banked 70% stakes

We are in a 25 pip range atm - lets see which way we break out of it

For now - it wants lower - but can 5550 / 65 area hold ??/


GU

7 21 am

So far supports held and new LH from yesterday at 5586 - 2 pips higher than the last LH - so really a HH for this morning

We need to stay above 5570 /72 on pullbacks for further moves up again
 
EU

7 25 am

For me now still a scalp buy above 1173/74

Watch time rules next on interim highs and lows for now

Would need under 1165 and 60 to get me looking at scalp sells really for now
 
7 39 am

EU

7 31 am saw more bulls come in on the EU - taking it up now to another new morning high of 1202

We need to stay above 1184/5 now on pullbacks for more scalp buys
 
7 53 am

I am just waiting for the LO effect to kick in next as pairs slow atm along with uncertainty - even though structure still says rises etc ??

Lets see what happens after 8 00 am
 
Thanks a lot F! That clears some things. If you don't mind i'll ask some more questions later on :cheesy:
Alex

Hi Alex

I will relate your points to the EJ as that was the pair mentioned in my comment

Ok

1. Determining entries . - They are based on what I call a multitude of "clues" - not just one clue off time or LR's - but in fact off at least 4 or 5 clues - can be easily 5+ many times on a really nice AAA+++ scalp set up.

I need my quick 2 or 3 Lrs ( from LR 9 to 15 ) go either under or over price to show a change in direction commencing

If this is in a TW and near a KT - even better

I then look at the price structure of the session - based on my LR 1 min chart over last say 4 -8 hrs - ie I open my chart out to see the past.. With 9 or 10 Lrs the more under price the more likely price rises - and opposite the more over price

I will have interim levels - both dynamic of TL's and static off pivots or horizontal levels marked - they also need to line up with LRs and time etc

If I see the price structure of the session is changing ie like on EJ - from 4 30 am to 8 09 am UK time it was bullish - but after 8 09 am it became bearish and still is now under 134 00 - i will not always take every scalp

So that scalp buy opportunity from 8 17 to 8 21 am onwards - I ignored - as I still thought we would drop lower than a t 8 17 am

I could have taken it and made say 5 -7 pips - but I still favoured lower

Similarly at 8 31 and 8 51 am more scalp buy opportunities - both would have made 10 pips in fact the 8 51 am and 9 00 am ones worth over 20 pips -

BUT really after 8 09 am we have turned bearish - shown by the continuing LH's and LL's

If i was desperate for pips - and had not had a good first 90 mins of the morning from 6 30 am to 8 00 am - i would be scalping both ways - but for now I have prefered to stay with the EJ 30% sell under the 8 09 am price and its now over 40 pips lower

2

Yes my first 2 / 3 quick LRs said scalp buy at a KT and PA also said buy - and yes i could have made easily 5 -7 pips . In fact if it had carried on higher then I would have kicked myself - but actually at 8 17 am I still had a 30% buy stake on - so I was covered really.

Every trade entry I take - whether its a pure scalp for 5 -7 pips or ends up making 200 pips of a 30% stake left on with stop in profit is all based on my quick LRs lining up with interim levels and time and PA etc,

The trouble is I will never really know in advance on many scalps whether they will end up as just 5 pips or whether they could turn into 50 or 500 pips over say 3 days

Thats why I am no longer a pure scalper - but instead a short term intraday trader that is prepared to leave part stakes on many scalps with stops in profit and relax knowing what ever happens - i will either end up then with just a few pips win - or a nice larger win - that makes me a lot more money than the 70% part I exited as a pure scalp .

Hope that makes sense and will post a couple of EJ charts to show more next on PS - ( price structure ) and levels and KT's etc etc

That's why timing and entries are so important for me - I just dont want to get an entry wrong with a 15 -20 pip stop - and lose that amount - even if it goes 3 pips against me at entry - I want out ASAP

Good Trading to you


Regards


F
 
8 15 am

Difficult atm

OK for quick scalps - but a lot of uncertainty for now

On the EU we had a quick 2 - 3 min fall of 18 pips and then after 8 05 am and 8 09 am - scalp buys - with us now back up at pre 2 mins to LO prices

So 36 pips there over say 18 mins - but in reality - price back to were it was - but still in a bullish price structure
 
EU

8 18 am

Scalp buys from 8 05 am and 8 09 am have been OK and now have formed a new morning high again at 1222 so far - with a R area around here atm

Still rising as I type
 
My 2 pairs after 8 00 am have been EU and GU - missed the EJ - find it difficult to try and scalp more than 2 pairs at a time - but OK to trade even 4 or 6 pairs - once you have a stop already in profit - ie no worry then
 
GU

7 21 am

So far supports held and new LH from yesterday at 5586 - 2 pips higher than the last LH - so really a HH for this morning

We need to stay above 5570 /72 on pullbacks for further moves up again

GU

1 hr later

We managed to stay above 5570 at LO and then from 8 05 am and 8 09 am - more scalp buys

Now price at 5596 area - and close to 5600

Not dropped to 30% stakes yet - but will soon - as might be a tease at 5600 or just before
 
EU

8 25 am

Down to 30% stakes and banked 70% at 1224 after a 1231 high so far

Pullbacks staying above 1204 - still scalp buys again
 
A busy 30 mins - pleased with EU and GU moves

EJ still a bullish session like EU for now - but always remember every 20 -30 mins things can change and so never assume it will stay the same
 
GU

1 hr later

We managed to stay above 5570 at LO and then from 8 05 am and 8 09 am - more scalp buys

Now price at 5596 area - and close to 5600

Not dropped to 30% stakes yet - but will soon - as might be a tease at 5600 or just before

Dropped to 30% stakes on buy at 5593 after a 5596/7 high so far

Pullbacks above 82 still scalp buys again

Under 80 would exit 30% stake on buy - but would need under 69 to look at holding scalp sells on longer
 
I have not bothered scalp selling against my 30% buy stakes on EU and GU - worth doing though as you are then gaining both ways with scalps at 100% stake size against only 30% on swing trade part
 
8 45 am

I will not be here for 9 30 am GU red news

Should be back for after 10 00 am but out again at 11 30 then as check up from the neck up at my Doctors :)

On the EU - I reckon the test is 1250 to 1280 - and maybe we will fall again in that area and test supports lower again under 1200.

I think the GU wants to be bullish more - but - it could be a news set up this morning - we will know more after 10 00 am - but stay fluid and flexible - thats always needed for intraday trading
 
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