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

[Forexmospherian]

GU - for now the main resistance is at 6895 to 6903 - ie a barrier to breach if we are going to try up at all in the US session

The support area so far is 6870 - so we have a say 25 - 35 pip range

Just about large enough to scalp both ways for say 3- 10 pip moves - but we need a proper breach of 6903 or 6870 really to see larger moves

 

[Derolo]

Hi F

Do you feel the E/J will make it down to 140? Its only around 14/15 pips away.

 

[Forexmospherian]

I know Derolo 15 pips might not seem a lot on say just $1 or $5 a pip . But if you can go through your learning journey and keep progressing etc etc - you will get to a stage when you might have that trade on 1 lot or like me anything from 4 -10 lots per pip.

Then just a nice 15 - 30 min scalp can be worth several hundred dollars or even a $1000+ plus .

At that stage all the headaches - study - thousands of hrs watching paint dry - all start to make sense

 

[Forexmospherian]

Hi F

Do you feel the E/J will make it down to 140? Its only around 14/15 pips away.

Agree it's still trying and at 140 12 atm

can only scalp buy above 17 and 23 - so under there might try under low so far of 10

Entering 1 00 pm time window now - so lets see if it can

 

[Forexmospherian]

EJ - we now need 08 and 06 to hold any sells on and ideally before the hr change

 

[Forexmospherian]

EJ - EU - GU - all tried down a bit further - only one I have tried in EJ after relooking at it after Derolo's comment

Will take 07 or 08 if we dont do under 06 in next 2 mins

 

[Forexmospherian]

1 00 pm - news in 30 mins on Cad and then at 3 pm on dollar

Going to have a break -took 09 on EJ - only made 3 pips but when 06 would not let go then I think it might not happne

A scalp buy at 09 /10 - but not in - doing too many small scalps atm

noticed GU fell again as well under 75 and made 60 - but this might now be pullbacks

See you in a bit

 

[Derolo]

Thanks F

Just as I mention the 140 mark, the price turned around. Are you waiting on any particular news or TW at the moment, before looking to place a trade?

 

[Forexmospherian]

Yes - will watch news at 1 30pm on Cad ( dont normally trade that pair) and then see if it as much effect on dollar - that could then effect the EU / GU / Swissy etc.

Otherwise - next trade planned for either 1 37 - 1 40 pm time - or 1 51 - 2 00 pm - if any pair looks interesting

Then from 2 - 00 pm to 4 00 pm can be busy as US session under way with news at 3 pm

Unfortunately not here all afternoon as 2 school runs to do but will be around I hope to get another 2 - 5 trades in before 5 pm ish

 

[Forexmospherian]

As I eat a sarnie - noticed EJ did not make over 23 + and became another scalp sell and now testing 07 again

Typical - throw you out trades - and then continue - all part of the fun of the " game" lol

Under 06 might then test 140 00 ??

 

[Forexmospherian]

EU - at a major support area of 3770 -75 now

 

[Forexmospherian]

missing out here - GU fell again and now down at 6750 and still falling

Its not suppose to do this 10 mins before news whilst I eat my lunch lol

 

[Forexmospherian]

EJ - made 140 00 Derolo - and not in last part

i could only allow a 15 -20 pip pull back if I had been in a 30% NPGT and already up say 50 -70 pips in profit on that trade.

On any scalps i will not allow any pullbacks over 5 -7 pips max - so thats why i had to pull at 09 - shame

 

[Forexmospherian]

News in 5 mins - back after

 

[Derolo]

Yeah missed the E/J as was on the phone to a client.

Will keep watching though as I am sure more opps will come our way.

 

[Forexmospherian]

With regards to scalp buys

On GU need over 58 and 62 to hold any I take above 6841

EU - 3769 low 73 is scalp buy - but needs 84 and 88 to hold it on for higher

EJ - 140 03 is a scalp buy and need over 18 and 24 to hold on for higher

All pairs if lows breach by 3- 5 pips - look at more scalp sells

If low hold 30 mins - favours higher for next 30 mins

 

[Forexmospherian]

I hope you all got some pips - I have again ;-)

Taken 70% off scalp buys and left 30% on with stops in 1 pip of profits

 

[Forexmospherian]

If we get any more rises on EU and EJ - will move my stops up more into a profit on the 30% stakes

 

[Derolo]

The U/C has just shot up over 50 pips. Stuck at .0895 at the moment. Of course I missed it. It just happened so fast.

 

[Forexmospherian]

The U/C has just shot up over 50 pips. Stuck at .0895 at the moment. Of course I missed it. It just happened so fast.

News trading is a special skill on its own and normally - unless you can really trust you broker - dont even bother live

I used to trade with large lots with GFT (uk) about 5 yrs ago and if i managed to get an entry at news - i might get a really bad price - or once in - I was sometimes stuck and could not exit under 3 minutes

This was to stop me scalping etc - and since then I have not really bothered with trying to catch all news spikes

Normally I will see if there are 2 or 3 spikes both ways and then enter 3 to 5 mins after the dust as settled

Many do well on news announcements - but like I say - a lot of luck and also if your broker gets you good entry and exit prices.