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

[tar]

disagree , gu above 1.6985 a sell , but above 1.6995 a buy ...
And under 82 a buy but under 65 a sell

+30

 

[lexcorp]

+30

+40

+30

+20

+40

Getting near your daily target.

 

[mike.]

Hi M

I which I had missed the E/U avalanche. I want everyone to know the mistake I made so I am embarrassed into never making the same mistake again.

I placed a buy on the E/U at 1.3985, without a stop and had the most expensive sandwich in history. I lost 92 pips. When I got back, I couldnt believe I made such a rookie mistake, but luckily I am only demo trading. In real life that could of wiped my account out.

I had made 20 pips prior to this stupid mistake.

All insults are welcome.

No Insults derolo, we've all done it. good to see you learned from it. Dont even go for a jimmy riddle without setting a hard stop.

 

[Forexmospherian]

Friday 9th May 2014 - Pre Opens - prior to 7 00 am UK time

Good Morning Intraday Traders

Last day of the week and after yesterday many must be pleased this week is drawing to a close. Either you still cannot believe what happened yesterday - OR - your still celebrating after having a great trading day and making big pips off all those moves.

I am neither - nothing surprises me with how the market moves nowadays - and I am not still celebrating great wins - simply because I missed so much and although it was a good day - hardly anywhere near one of my best.

OK - quick update and review on the main pairs I plan to intraday trade today.

All Intraday traders are welcome on here with their thoughts, comments and even their FX forecasts and any questions - i will try and answer during the session.

Have a good trading day

Regards


F

 

[Forexmospherian]

EU - and Swissy

EU - after high yesterday of 1 3993 - a drop to early this morning of over 160 pips to 3831.

Swissy - A rise from 8703 to 8812 early this morning - nearly 110 pips - thats a big move for this pair

Whats next ?

EU - supports at 3820-30 and then the big round number area 3800

If they hold - a retrace / bounce / pullback - what ever you like to call it up to 3850 -60 area.

At the moment I am scalp buying above 38384 but need 45 to hold it on

Under 36 and 33 - then I would be scalp selling to test 30 and 20 areas

 

[Forexmospherian]

EJ

Fell yesterday from 142 40 area down to a double bottom so far at 140 53 - nearly 190 pips

With 140 53 being support twice over a 4 hr period you tend to think its a good support and would need a good 7 - 12 pip breach under to crack it

( just exited EU at 423 after it failed at 45 on scalp buy)

Made up to 140 80 area and currently cannot make over that R area

Like the EU now - turned from being a scalp buy - to a scalp sell on the hr change and the EO

 

[Forexmospherian]

GU

Fairly quiet yesterday - but this morning at 9 30 am - more red news - so we should keep an eye on this pair this morning

Yesterday it only fell approx 50 -60 pips and now at the 6930 area - with 6915 - 20 as support and 6936 -42 as the R area

Presently a scalp buy above 24 - but not entered any scalp on it so far

Would need over 35 and 40+ to think this move up will continue longer

 

[Forexmospherian]

AU and EA

AU was not a big mover yesterday - only falling approx 50 pips from near 9400 at 9395/6 area to now at 9358.

9345 to 75 ie 30 pips is like a BTTZ for now. Need one to be broken to get a clue on next path - and in between we have another tigher range needing a breach before we look at trading it.

So leave for now but will update later

EA - Dropped from 4910 yesterday high to 4759 /60 - strong support - and approx 150 pip fall ie both AU and EA fell - and normally they are opposite correlations so with the big EA fall - you would have expected the AU to rise - but it didn't - so never think they always do the opposite .

Price at 4780 - but PA bitty and ugly - so ignoring for now

 

[Forexmospherian]

Back to EJ and EU

EU did not make 44/45 - price I needed to hold scalp buy on from 38 area and now under 38 and 36 became a scalp sell.

Currently at 32 - so lock in 5 pips if you can - or like me just take profit off - as still early and not get many pips in the kitty yet

3920 -30 is all support area - so we need to breach for further falls

EJ - a quicker mover and as already dropped 15 pips from the EO at 7 00 am exactly

Late in - but down to 30% and will stick stop in profit at 73 - if that goes - no problem - still 3 pips profit in it

Need under 140 63 and 59 to hold on longer

 

[Forexmospherian]

Here for London Open at 8 00 am this morning - but going to have a 10 -15 break first ready for hopefully some action next hr

 

[Forexmospherian]

EU - now at 3923 - taken 30% stake off and will review after hr change

Could be scalp buy from 25 and 27 - and need back under 3921 and 17 for more scalp sells

 

[Forexmospherian]

EJ - made 52 - out completely at 56 - late as by then a scalp buy - but not taken that one

 

[Derolo]

Morning F

I am watching the E/J and E/A this morning and on MT4 the price is 12 pips higher than what the actual price is trading at. Why is this? I need to make up about 15 pips before I am in profit. Is this the same on all platforms?

Thanks

Derolo

 

[Forexmospherian]

Morning F

I am watching the E/J and E/A this morning and on MT4 the price is 12 pips higher than what the actual price is trading at. Why is this? I need to make up about 15 pips before I am in profit. Is this the same on all platforms?

Thanks

Derolo

Morning Derolo

Which broker are you using ?

Spreads will always make a difference on price - but spreads on the 2 pairs you mentioned should be between 1 or 2 pips to maximum 3 -5 pips - not 12 or more difference

Open say 3 demo accounts with different brokers and check out all their spreads

For scalping or short term trading you ideally need all spreads under 3 pips and for me the EU is normally - 0 3 to 1 pip and EJ - 0 6 to 2 pip max

Hope that helps

Regards


F

 

[Forexmospherian]

8 27 am - and in the half hr time window

Very slow atm

GU - a pair I still cannot touch atm - as the PA is ugly and spikey

It wants to fall - but need under 23 and 19 for this too happen - and if it does - it could suddenly spike up 4 -6 pips - so will still leave atm - until we breach under - or totally turn and try up

 

[NVP]

agreed re slow action............in last 30mins I lost a couple of pips on buying USDCAD (timing error) then got back a few to date on buying AUDUSD.........will be back later

at the moment I see USD cooling

N

 

[Yorkshire Terrier]

Good morning all hope everyone caught some pips yesterday, i got a few on the pound swiss when it bounced back but could of got more IF i hadn't pulled to early.

Ho yes that magic word IF, yes well IF my auntie would of had balls she would of been my uncle.

Have a good day.

YT.

 

[Forexmospherian]

GU - 6923 is a good support atm

For sells we need this to be breached by 3- 7 pips,

Whilst price stays above this support - it will turn and try higher - but thats less than 14 pips away.

So tight range 6823 to 6837 - need on to go for either way move - ie above 37 and 40 scalp buys - under 23 and 19 - scalp sells

 

[Forexmospherian]

Morning guys - NVP and YT

Yes after all of yesterdays action - this morning is back to normal - slow and boring atm

Hope next hr will be better and of course Pound news at 9 30 am could be a good excuse on GU

Have a good day and dont get caught on all the teasing ;-)


Regards


F

 

[Forexmospherian]

AU

Woken up - moved up 8 -10 pips - but still in 9350 -70 range - and we need a break either way for more clues

Testing 9368 atm - over 71 and 74 - then might look for scalp buys on any pullbacks