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

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GU

1 min LR Chart featuring buy areas and sell areas and KT's

Last one - a sell after 9 09 am

Need under 5650 to stay with sells



194406d1437122091-intraday-live-short-term-trading-calls-expert-retail-forex-trader-gu-170715-am.png


Update on GU for 11 00 am

So far low at 5619/20 and a support area - need under 16 and 12 to stay with sells

Updated chart below

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A$ M5 & H1

Looks like 390 is holding for now

Whilst I did manage to catch a couple of runners on AU during the week, there's a world of chop between the two red lines on H1, and so I gracefully gave any winnings back...

AUDUSDM5.png

AUDUSDH1.png
 
Glad to hear you've had a good morning F.

Thanks for the words of encouragement, and I'm sure I will have more questions in time.

Whilst it's difficult and frustrating at times to have an array of loses, really it doesn't matter that much to me at the moment. For now my focus is really on getting the direction right, which means improving my analysis skills. I figure once I can improve my chart reading skills to read the direction consistently, then I can focus more on timing and risk management. Difficult to separate out aspects like that really, as everything is intertwined, but this is how I have to look at it for now.

Sadly much of the marketing/media in the trading world suggests you don't need to know much, or that practice isn't really part of the story, and that you can learn in a couple of weeks. I'm glad to say I didn't fall for those rubbish lines, and have avoided losing money by being careful. Although I doubt I appreciated quite how much practice is required.

However, what I really needed (which I didn't realise) is intense practice, that really stretches me, pushing me completely out of my comfort zone. I can see I have learnt more in the last six weeks or so than I learnt in the last six months, due to the intensity of this pace of trading. So I shall keep slogging on, it's the only way forward imho :)

Cheers,

G

This is what honestly got me annoyed when I started over 13 yrs ago

I genuinely thought within 6 -12 months I would be decent and making money

First 3 yrs part time - touch and go and with no real continual profits

It was over 4 yrs before my scalping became fairly good and then only after the year I went full time that I felt I could make profits every week

Many blame all the dodgy vendors and rubbish teachers etc etc

I blame the industry - the Banksters look upon retail as sheep going to the slaughter.

To develop the skills you need can take anything from 2 to 5 yrs alone

Major Magnum had over 18 months of swing experience before he tried my method - and we was not really profitable - now over 17 months later - he is at another level and I am sure he will go full time

Good Luck - stay with it and then overtime it will start to all click into place and although you will never be 100% correct trading - you dont need to be if disciplined and with a good method

Regards


F
 
EU

11 15 AM

Still not out of its range - need really under 0875 and 70 to sell off more and then we have supports at 0860 and 50

Would need back over 0895 and 0900 to be holding or taking new scalp buys
 
EU chop

Notice price within channels, within other channels, etc. Not sure how useful it is to observe those channels, but I am sticking with it for the mo. Sometimes I can find reactions to previous channels (good example on M30 chart 15/07/15 at 9am) - but may be coincidence, or not tradeable.

EURUSDM5.png

EURUSDM30.png
 
EU chop

Notice price within channels, within other channels, etc. Not sure how useful it is to observe those channels, but I am sticking with it for the mo. Sometimes I can find reactions to previous channels (good example on M30 chart 15/07/15 at 9am) - but may be coincidence, or not tradeable.

View attachment 194418

View attachment 194420

Overtime - you get to read and understand when the market is resting or waiting etc etc

Also how pairs change- ie

Pound today

Early on very bullish on GU / GJ / GA

Last 3 hrs - went bearish and over 150+ pips off falls of the combinations

Meanwhile EU in about 30 - 40 pips of range
 
GU

12 30 PM

The low as held for 30 mins now at 5599/ 5600 area

The bounce from the hr change as been 20 pips and for now any pullbacks staying above 5606/8 should be buys again
 
We have a lot of US and Cad Dollar news at 1 30 pm - so will have an early lunch and be back for 1 15 - 20 pm

See you later
 
1 12pm

Red news announcements in approx 18 mins or so

Pound - still weak - now dropped under previous supports on pound crosses

GJ - now down over 110 pips from its morning high - GU down 85+ pips and GA down another 100 pips

Will update EU and UCad for news
 
UCad for news

Above 2965/ 70 bullish - scalp buys etc needing now above 2986 and 3000 for more rises

Under 2960 and 50 - more scalp sells as would be in a bearish PS under there for US session
 
EU

1 19 pm

Update for news

Above 0908 and 15 and 20+ all scalp buy land for higher with R;s at 0920 / 30 and 50

Really do need under 0870 and 60 for selling more because 75 to 0900 is just a BTTZ tease zone
 
Still got the UCad as bullish atm

Will this change after news - not checked on fundy side to see if its good CAD Dollar news or not ?

Would wait 3 -9 mins to get in anyway - what ever happens on it
 
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