Forexmospherian
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GU - yes 6608 to 6622 is all a interim support area - so if we drop under 24 then look for more scalp buy opportunities above say 10 or 14
Intraday Live short term trading calls from an Expert Retail Forex Trader
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Forexmospherian
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EU - trying to ignore it - as its being played with
For now needs over 3708 and 11 to scalp buy again - and whilst above 3700 still think it will try up gain - it is in a scalp sell mode needing under 95 to hold that on
For now needs over 3708 and 11 to scalp buy again - and whilst above 3700 still think it will try up gain - it is in a scalp sell mode needing under 95 to hold that on
Forexmospherian
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EJ - not mentioned this pair last 30 mins
Cannot make another high above 139 75 - so really under 70 still a scalp sell but needs to breach interim supports at 55 -57 and then 50 to hold scalp sells on longer
Cannot make another high above 139 75 - so really under 70 still a scalp sell but needs to breach interim supports at 55 -57 and then 50 to hold scalp sells on longer
Forexmospherian
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10 .00 am - and scalp movements start again
Forexmospherian
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GU - 6620 low for now - a bounce just that was over 9 pips - watch to see if 20 or above 15 hold s now until end of time window - then we can look at some scalp buys
Forexmospherian
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GU - so a lot of bears came out at 6620 -25 area - and bull scalpers started - really need above 38 and 43 to hold any scalp buys on for now - otherwise just grab what you can
Forexmospherian
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GU - taken all of scalp buys off at 35 - as out in 10 mins now for maybe an hr or so
Forexmospherian
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LOL - even got that wrong - should have only taken 70% off and waited - as now at 39
You have to laugh - otherwise the market would just keep beating you up at times and saying - got you again etc etc
Still up now at 43 pips in total - so not to bad - but have taken more scalp trades than normal
See you guys a bit later on - with regards to this afternoon and US off - may just look up to 2 pm - all depends on movements
GL and take care
Forexmospherian
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Just gone 1 00 pm UK time and quick update / review for this afternoon ( remember no US today as holiday )
EU - under 3712 and 08 - intraday bearish - needs to break under 3690 to confirm as still really in a bt tease zone between 3690 and 3728 - 38 pips now and unless we see a proper break then really its just scalping for whatever you get in between
Being the EU - its played with the most - so if you can try and see if you can look at other pairs like the AU or UJ or even the EG
For me I prefer the EA / EJ and GU - as more volatile - but so far nothing really happening on those 3 atm
GU - 6720 area is a supports. Need over 33 and 37 for taking more scalp buys and then under say under 22 and 17 for scalp sells
EJ - tease zone - 139 50 to say 80 - 30 pips and really needs a proper break of either price to look at larger moves - over 57 and 62 still scalp bullish - but under say 58 and certainly 53 more scalp sells for supports at 32 to 40 area
EA - opposite to AU - above 5160 - still scalp bullish - under 55 and 50 look more at scalp sells
EU - under 3712 and 08 - intraday bearish - needs to break under 3690 to confirm as still really in a bt tease zone between 3690 and 3728 - 38 pips now and unless we see a proper break then really its just scalping for whatever you get in between
Being the EU - its played with the most - so if you can try and see if you can look at other pairs like the AU or UJ or even the EG
For me I prefer the EA / EJ and GU - as more volatile - but so far nothing really happening on those 3 atm
GU - 6720 area is a supports. Need over 33 and 37 for taking more scalp buys and then under say under 22 and 17 for scalp sells
EJ - tease zone - 139 50 to say 80 - 30 pips and really needs a proper break of either price to look at larger moves - over 57 and 62 still scalp bullish - but under say 58 and certainly 53 more scalp sells for supports at 32 to 40 area
EA - opposite to AU - above 5160 - still scalp bullish - under 55 and 50 look more at scalp sells
Forexmospherian
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I am planning to go out again in about 20 mins - but hope I might be back my 3-3 30 pm to see if much is happening - or not
If it is slow all afternoon - might be worth looking after say 7 or 8 pm tonight to catch a few pips
See you later guys
If it is slow all afternoon - might be worth looking after say 7 or 8 pm tonight to catch a few pips
See you later guys
morgan_edge
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Would I have been right in shorting at 1.6715 based on the above? (would be stopped out for -7 or so?)
Forexmospherian
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Hi Morgan
First question - are you a scalper - because the sudden drop to 15 / 16 was a tease and maybe even a false move - and to make it worse it happen at 1 ,30pm - middle of time window
So therefore scalp sells at 22 and 17 were ok - as long as you pulled when no under 14 - difficult if not a pure scalper.
If I had been doing it - I would have got in at 22 or even 23 - and then took 70% off at 5 pips - but - more than likely I would have been fried on taking any scalp sells at 17 or under - as it was areal set up - to catch traders out
For now if we stay above 19 /20 then the GU is a scalp buy - but needs the 33/34 + to confirm the turn taking place
I hope this helps and I will explain more - but have got to pop out now
REgards
F
Forexmospherian
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Evening Traders - nearly 7 30 pm - and still not done my 50 pip target today
Got to 43 pips prior to US time - but with no real action this afternoon - I did not bother going after any more trades
Shame really as I notice the GU as fallen approx 100 pips from the EO - and I did not get even 30 pips of them ;-((
I have attached my GU chart for today and for the benefit of Morgen_edge - who had asked about a scalp sell at 6715 - which had bounced at that point - and would have needed a 17 -20 pip stop to stay in the down trade
From the chart you can see the dynamic resistance offered by the down trendline and the importance of any bounce going over 33 /35 for it to start a turn up
It did not make it and then under 22 and 17 again it became a scalp sell again - but then by 6709 - you would have needed a 25 - 30 pip minimum stop to stay in the trade
Believe it or not - even on a 100 pip fall - there are at least 4 scalp buys available with each one making a minimum 7 pips and 2 over 15 pips,
You then have the chance to take additional scalp sells from the LH's and make even more pips than a straight swing sell with a 35 -50 pip stop - which after all would make you only a RR of 2
One scalp buy with a 5 pip stop and a 17 pip profit is a RR of 3 - far better than waiting 8 - 12 hrs to just make a lower RR of 2 on just one trade
This is what so many traders do not get - scalping for RR's of 2 to even 5 give you far better results than any normal swing trade - and normally you can do 10 -30 scalps a day rather than just a few swing trades - with you risk all on together - yet again another negative compared to short term trades lasting less than 15 or 30 mins - even allows you to compound every hr or 2 if need be
OK - can I find another 10 pip trade anywhere in the next hr lol
Regards
F .
Got to 43 pips prior to US time - but with no real action this afternoon - I did not bother going after any more trades
Shame really as I notice the GU as fallen approx 100 pips from the EO - and I did not get even 30 pips of them ;-((
I have attached my GU chart for today and for the benefit of Morgen_edge - who had asked about a scalp sell at 6715 - which had bounced at that point - and would have needed a 17 -20 pip stop to stay in the down trade
From the chart you can see the dynamic resistance offered by the down trendline and the importance of any bounce going over 33 /35 for it to start a turn up
It did not make it and then under 22 and 17 again it became a scalp sell again - but then by 6709 - you would have needed a 25 - 30 pip minimum stop to stay in the trade
Believe it or not - even on a 100 pip fall - there are at least 4 scalp buys available with each one making a minimum 7 pips and 2 over 15 pips,
You then have the chance to take additional scalp sells from the LH's and make even more pips than a straight swing sell with a 35 -50 pip stop - which after all would make you only a RR of 2
One scalp buy with a 5 pip stop and a 17 pip profit is a RR of 3 - far better than waiting 8 - 12 hrs to just make a lower RR of 2 on just one trade
This is what so many traders do not get - scalping for RR's of 2 to even 5 give you far better results than any normal swing trade - and normally you can do 10 -30 scalps a day rather than just a few swing trades - with you risk all on together - yet again another negative compared to short term trades lasting less than 15 or 30 mins - even allows you to compound every hr or 2 if need be
OK - can I find another 10 pip trade anywhere in the next hr lol
Regards
F .
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