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

[Forexmospherian]

Hello MM, can't find information about 30 min rule. Could you please explain what is it?
Alex

Hi Alex

Basically - any interim high or low in intraday that lasts over 30 mins with no breach - favours a continuation of the move after the low or high

It then needs over 50 -60 mins to test the low or high again

Its not written in stone - but its another clue or guide on strength of S & R's at levels and can help your decision making etc

Will explain it in more detail when we have a so called BTTZ area - tease zone


Regards


F

 

[Forexmospherian]

EU

Red US Dollar news in 10 mins at 1 30 pm

Price at 1406 and now a LL and 1395 to 1403 key as next supports

Will not stay in scalp sell at news - exit a few mins or more beforehand

 

[Forexmospherian]

My longer 1 min LR say still in bullish PS above 1385 / 90

Price at 1398 atm - will exit in next 1 to 5 min depending on PA prior to news

 

[Forexmospherian]

EU

1 00 pm

if we do try again above 1435 and 45 then my new target high would be above 1460/5 - as we have moved higher up the channel

But no over 35 and 45 - more scalp sells then again

That was the key again at 1 00 pm

1430 was the LH again for now

 

[Forexmospherian]

In no scalp for news in 3 mins - exited 1398/9

 

[Forexmospherian]

Will we shoot up 30 - 50 pips - or drop down for news ???

 

[Forexmospherian]

1 30 pm

Dollar weakness again atm - EU spiked up to 1435 and stopped again

Not convinced on either direction atm - nor is the market for now

 

[Forexmospherian]

1 42 pm

OK - still a scalp buy above 1405 and 07 - but again needs over 1430 / 35 and 45 to stay with buys

Under 1397 and 1390 i would be scalp selling again

 

[Forexmospherian]

I will stay with EU to after the 2 00 pm TW and then popping out for a break and back after 3 00 pm

Its real indecision - or tease time

On the EU we know over 1425 and 30 and 35 and 45 - scalp buy land for a try higher

But if we drop under 1400 again and under 1390 - then its tests lower at supports we breached as R's on the way up yesterday and this morning

This is a time to look at "wrapping" - ie placing trades either side of the immediate range - but its risky as market makers love stop hunting the clever traders who think they can take the easy options to get around tease zone

We might stop in a tight range for just another 15 mins - or it might last an hour - that's the problem

I dont mind as done way over my daily target so - really can afford to wait for better probabilities etc etc

 

[Forexmospherian]

2 00 pm on the EU was another scalp sell at 1414 - but no under 1403 and 1400 - exit early

 

[Forexmospherian]

Good Luck and see you a bit later on - hopefully when we have moved out of the tease zones

 

[Forexmospherian]

3 40 pm

Market very slow atm

Eu as dropped from 1445 down to a low of 1387 for now

I reckon we need to see back above 1410 and 1415 to think about holding scalp buys on longer or taking new ones

Under 1405 its still a sell - but as I type we are testing above 1400 again now

I have lots of supports from 1360 - 75 and 85 so its whether they will hold and the R's will fall away again

Going to pop back after 4 00 pm for a bit

 

[Forexmospherian]

Noticed the low at 1387 as now stayed unbreached for over 30 mins - showing its a support area and would now need another 20 mins plus before it can be tested again - thats if it is tested again

 

[Forexmospherian]

Back prior to 4 00 pm to see a very strong move down after we failed to test 1410+

The low was breached outside the time rules and kept on going to so far 1364 - near the bottom of the first main support area

 

[Forexmospherian]

EU

3 59pm

Bounces staying under 1395 are sells again for now

 

[Forexmospherian]

Just noticed Draghi from ECB speaking now at 4 00 pm

So be careful on EU - although normally every time he speaks - it falls ;-))

 

[Forexmospherian]

4 09 pm

EU

stalling now around 1360 support

Will leave 30% on sell with stop in profit at 79

Probably not back until after 5 pm now

 

[MajorMagnuM]

i noted this line the other day and posted it. it has interacted with price well.
cop of harmonic shape turned price. flat now

 

[Forexmospherian]

4 09 pm

EU

stalling now around 1360 support

Will leave 30% on sell with stop in profit at 79

Probably not back until after 5 pm now

EU

5 15pm

Shame really it went down to 1344 and i was only back in time to exit at 65 .

I think it is trying to find a support area around 1350 now and maybe we will stay in a 40 or 50 pip range now

Finished for day on scalping etc - but will pop in later to just check out levels etc ready for tomorrow

Hope you all have had a decent day


Regards


F

 

[klw]

hello klw

Hi P.