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

[Forexmospherian]

4 01 pm saw the EU low so far at 1005

Needs over 1022 and 27 to stay with any new scalp buys

Under 0996 and 0988 more sells

Back after London Close

 

[NickBk]

Looks as though some are calling it an - "a "greek" ment" rather than an agreement

I wonder why they dont trust the Greeks - ie only 93% fiddle their tax returns and get away with it - when there's money involved they are saints ( lol)

Well I think that the Germans have started the end of the road for their great project. The project that has kept their currency up to 35% undervalued whilst flooding Europe with the relatively low cost cars, pharmaceuticals and other things.

All southern countries should now have a new southern euro devalued by 25% and then lets see how it would be. France would be keen to join too and then what.
Of course not going to happen but the sheer cheek of the Germans. They keep a straight face whilst having all the benefits and what the others need.

 

[Forexmospherian]

Well I think that the Germans have started the end of the road for their great project. The project that has kept their currency up to 35% undervalued whilst flooding Europe with the relatively low cost cars, pharmaceuticals and other things.

All southern countries should now have a new southern euro devalued by 25% and then lets see how it would be. France would be keen to join too and then what.
Of course not going to happen but the sheer cheek of the Germans. They keep a straight face whilst having all the benefits and what the others need.

I think this is going to get a lot worse than it is atm

A lot of bad feelings around Europe about Germany - maybe a lot of it is down to jealously etc - but also a lot because they have got to much of their way etc

I blame Goldman Sachs - but then I blame then with everything - mainly because they did me out of a lot of money when they helped cause the collapse of Lehman Bros.

What ever happens - its going to be very interesting and of course it makes this FX game even more fun.

 

[NickBk]

I just believe they really conned a lot of countries in the rate that they joined the old ERM. I recall Ireland joined at 1.276 to the Euro. Which meant that all the years the Euro was under 1.276 against the £ that Ireland was in effect now trading higher than parity with the old Punt/Pound, which was parity forever.

Yes you are right, we should be pleased this will give us all the volatility we need in the months and years ahead. How much fun another new 17 currencies could be on top -)

 

[Forexmospherian]

EJ

11 16 am

Update

Always one of my favourite pairs to intraday trade - not normally as big a mover as the GJ and some of the other minor cross pairs - but its low spread and I am used to to after spending so many years just scalping the EU - which to be frank - can be a pain and not the easist pair to always intraday trade

Today so far

140 + pip move up - all within 25 mins

80 pip drop in approx 20 mins

60 pip rise in under 15 mins

120 pip fall in approx 40 mins

30 + pip rise and then its rest at at the 136 65-80 area

so 400 + pip moves in last 4 hrs or so - and just getting 50% of that lot you have done extremely well

You would have needed a minimum of 5 scalps and then if you P & P - you could have it up at 20 trades and pip counts easily up over 700+ pips etc

Every day - I am just pleased to make over 50 + pips at my 100% stake sizes - that might mean 130 + pip at part stakes plus just normal scalp profits of 5 -20 pips or so at 100% size.

The EJ now need to come out of its immediate 45-50 pip range for us to see any larger moves again

EJ

5 20 pm

Since I made that comment - approx 5 hrs ago the EJ as dropped another 70 pips

We had over 400 pips of two way movements in 4 hrs this morning

But in the last 4 hrs only approx 60 -70 pips

Its so important for intraday trading you are able to cover a busy 12 hr session and ideally cover all main key times - ie the 6 00 am to maybe 11 00 am and the 2 00 pm to 5 00 pm. Its not always possible to guess the big movement times - but normally they will fall into those 2 sections .

You dont have to spend 12 hr every day glued in front of the screens

Today - counting my times I was trading and blogging and quick viewing ever 30 mins or so - my total screen time is under 4 hrs - ie some hrs I just spent 10 -12 mins

My targets were reached before London Open and everything else is cream on the cake - but it also helps you read and understand more

Finished now for the day - but will pop in later

Hope you have all had a good Monday

Regards


F

 

[Forexmospherian]

Tuesday 14th July 2014 - Pre Opens

Good Morning Intraday FX Traders.

Slightly late this morning and have not been in time for the 6 00 am UK time KT for any scalps - instead after 6 09 am

Normal stuff for all the members who have followed before.

Nowadays I start off by informing you of my morning session bias and price structure via my LR chart and so called LitS ( lines in the Sand)

You should also know my 6 key times of every hour and my 2 time windows and then its a case of lining up price with interim S & R levels along with PA and other so called clue to make scalp trades - ideally within a 7 -25 + pip target range.

If the move as legs and I have caught an interim low or high - I then P & P and leave stakes on with stops in profit,

All stops are within a 3 to 7 pip range depending on the FX pairs and the volatility etc

EJ - whilst I have been typing this open comment I managed to take a scalp sell after 6 09 am and now at 6 23 am its dropped over 15 pips

Nice start

Have a great day

Regards

f

 

[Forexmospherian]

6 29 am

Key LitS for my main scalping FX pairs


EU - 0990 - 1015 ish

EJ - 135 75 - 136 00 ish

GU - 5480 - 5500 ish

Will comment on other pairs LitS all before the EO

 

[Forexmospherian]

First observation - EU - trying to go above its LitS area - whilst the EJ a similar correlated pair - is under its LitS area

Thats why I was keen to scalp sell the EJ - but not so on the EU for now

 

[NickBk]

Morning F,
As I have a big time difference I have been at it a while and it is good as no Dax at this time.
Have traded EU 3 times for +32 so not bad, no drama either which was good. Triggers at the right spot.
Have a good day. I feel sure you will.
Cheers

 

[Forexmospherian]

6 36 am

LitS on other main FX pairs

UChf - a normally oppositely correlated pair to the EU - 9475 - 9500 ish

AU - 7395 - 7410 ish

UJ - 123 40 - 123 52 ish

UCad - 2725 - 2750 ish

 

[Forexmospherian]

Morning F,
As I have a big time difference I have been at it a while and it is good as no Dax at this time.
Have traded EU 3 times for +32 so not bad, no drama either which was good. Triggers at the right spot.
Have a good day. I feel sure you will.
Cheers

Morning Nick

That's very good - 30 + on 3 trades and nice to hear that the triggers have been as expected etc.

At one time many years ago - I never used to start before the European Open at 7 00 am UK time and then realised the hour or two prior can be very good and also a great time to set up other pairs ready for the EO and LO.

We have a busier Red News Calendar this morning starting at 9 30 am with the GU and quite a few others through out the day - hopefully they will give us more opportuntities etc


Have a great day Nick


Regards#


F

 

[Forexmospherian]

EU

update at 6 47 am

I have now joined the move up .

The initial scalp buy from the low after 6 13 am was not one for me - as outside TW and the EJ was a scalp sell which I was already in - and so it did not suit me

However over the 6 30 am TW and above 1002 - its all lined up and carried on rising so far making a high of 1012/ 13

I plan to try and get more scalp buys on from 0996 / 1000 on any pullbacks

I am only going to scalp sell and hold on longer if we go under 0995 and 0990 etc - that would then be under the LitS area

I expect gameplay with the first Open at 7 00 am - but lets see what the market makers get up to

 

[Forexmospherian]

Yen crosses - EJ & UJ - (not got around the GJ and others yet)

6 53 am update

After I took the EJ scalp sell after 6 09 am time - I checked the UJ to see if they were in sync - as the EJ was certainly not in sync with the EU this morning

6 21 am and 6 38 am were scalp sell clues on the UJ - especially with the EJ still falling - ie showing a strong Yen for now

So far - EJ dropped 30 pips for me and UJ I have managed to catch 16 pips so far

 

[Forexmospherian]

6 58 am

EJ

cut off on my scalp sells on EJ now 135 66/67

Under there still a sell for now

 

[be-positive]

morning looking to go long EU in this TW

 

[Forexmospherian]

7 03 am

Its all kicked off at 7 00 am

EU syncs with EJ on sells and UJ changes to a buy - clear dollar strength pumped in on the hour change

 

[Forexmospherian]

morning looking to go long EU in this TW

GM - BP

I can now only scalp buy above 1004

Under 1000 for me is now scalp sells atm

This could all change again in next 5 mins - as trickery going on -

Have a good day


Regards

 

[Forexmospherian]

6 58 am

EJ

cut off on my scalp sells on EJ now 135 66/67

Under there still a sell for now

7 05 am

Blooming lucky on EJ

It bounced up to 66 - before then dropping again under 55 to 46 so far

I added to sells at 135 60 and now as I type we are under 46 at 42/3

Will peel down and see if I can add again under 55

 

[Forexmospherian]

EU

7 08 am update

All change at 7 00 am

A bullish PS above the LitS all changed within 3-5 mins

Price now down at 0965 - under 0995 was just sells for me

 

[Forexmospherian]

The "devil as been in the detail" this morning - ie the 6 30 am move up on the EU to morning high was false confirmed after 7 01 am