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

[Forexmospherian]

1 33 pm

42 low on GU - not low enough for proper break of 45/6 and still above low of day

still in a BTTZ - until - over say 65+ or under 40 - still approx 25 pips of range

 

[Forexmospherian]

EU

Now under 3650 - and a proper sell still whilst under 3665 and 70

Above 65 and 70 = back to scalp buys again

 

[MajorMagnuM]

An up trendline from low this morning at 6731 - important

a BTTZ and without proper breaks - you will always get both way tests

so unless we broke dynamic supports at 48 and then horizontal supports at 45/6 - we are never going to drop lower

Similar - unless we go over 62 and 65+ - we are never going to get out of a 25 pip BTTZ

This could last another 2 mins to news - or another 2 or 4 or 12 hrs

that dynamic support from this morning ran thru 11.22 low. it was not until 12.37 that we knew we could have that trendline run through the 1226 low!therefore we were under dynamic supports

 

[MajorMagnuM]

GU chart - will expand on reasons why a buy was on for 12 30 time window

1. still in a Bttz - From say 63/65 to 45 - approx 20 -25 pips

2. Both ways still on - but from 12 pm TW a false spike up then fall and from 53 at start of the 12 30 TW at 12 21pm

3. Fall needed to breach under 45 to hold on

4 At 68484 - hit a group ofmulti dynamic up trendlines acting as supports - ie 46 to 48 all support area

5 12 30 - at 6850 - all change - down at stopped at 484 and now at 50 - a scalp buy - supported by 2 while Lrs with third under at 495

6. Stop - 46 low or 47 even

7, a 5 pips rise and then fall back to 50

8 So now low 484 and no fall under 50 - so a HL confirmed then ny LT green crossing with normal green and LR structure giving more supports

9 Now by 54 - and after end of time window - 3 white Lrs above red lrs and red above yellow and price still trying above 55

10 12 51am - start of new hr time window - price still rising with 60 as R

11. Price does not make 60 stops at 59 in time window before 1 00 pm

12. now above 48 and 52 still a scalp buy - but need over 60 -62 and 65

i dont think this explains why gu was not a sell at 12 25 F

 

[Forexmospherian]

i dont think this explains why gu was not a sell at 12 25 F

12 25 was still a sell - if you wanted 2- 3pips

Otherwise you would exit you sell you should have been in from 12 09 at say 54/55 at the low of 48/9 - or even 50 - still a 4 + pip profit

But from 12 30 pm - a buy

 

[Forexmospherian]

1 42 am - TW finished and GU just back in BTTZ -- but now testing above 62 - and as I type 65

 

[Forexmospherian]

GU - all i can say was the drop under 48 and 45 - which only managed to 42 - was a typical false spike - to take out buyers before price rises

If we stay above 59/60 now - we are out of BTTZ

BTTZ range now say 60 to 42

 

[Forexmospherian]

EU

Now under 3650 - and a proper sell still whilst under 3665 and 70

Above 65 and 70 = back to scalp buys again

Comment from 12 mins ago

False test under 3650

Above 65 and 70 scalp buys- price so far made 71

Above 57/58 - still a buy

Under 55 and 50 - back to sells

What a teaser - ;-)

 

[MajorMagnuM]

sorry im not seeing that. the way i swa 12 09 was as follows and can bee seen on the chart by times listed below.
a sell at 12 09 was against LR structure.
supports at 52 had been tested and held/ 3 aNd 12 minutes previously.
by 12 09 the low from 11 21 had held for more than 30 minutes, and the high from the last 30 minutes had been pierced. it was not until 12.22 that the floor got broke. before that, it was still bullish price action

 

[Yorkshire Terrier]

Bout GU @ 66 sl 62

 

[be-positive]

obervation Gu looking north bound from 1.6769 area

 

[Forexmospherian]

sorry im not seeing that. the way i swa 12 09 was as follows and can bee seen on the chart by times listed below.
a sell at 12 09 was against LR structure.
supports at 52 had been tested and held/ 3 aNd 12 minutes previously.
by 12 09 the low from 11 21 had held for more than 30 minutes, and the high from the last 30 minutes had been pierced. it was not until 12.22 that the floor got broke. before that, it was still bullish price action

Still a bullish mode above the low of 11 21 am at 46 then at 11 41 at 48 - ie HL and rise

Rise carried in at 12 pm and through time window - but stopped short if 60 - at 57 /58

It then fell and under 55 was a scalp sell - but that scalp sell stopped at 12 30 pm time window at 48/9 price

So the scalp sell was worth say 6 -7 pips net - but entering at 12 25 pm - and it was only worth what 2 -4 pips

By 12 30 - no breach of dynamic support or horizontal support - and so above 50 a scalp buy

Hope that helps -

BUT one main point

Scalping in a BTTZ is not always a good idea - as it is proper manipulated noise to really catch out scalpers

If price after 12 ,25 pm had breached under 48 and 45/46 - then your scalp would have been worth minimum 10 pips from say 12 15 or 5 -6 pip min from 12 25pm

Remember the market is always right - thats why you can never be 100% correct

But yes 12 25 pm was still a scalp sell for 2- 4 pips - but 12 30 pm was a scalp buy for 7 -9 pips - thats the difference - and both were in a BTTZ

LR structure beat news in end - as LR structure wants GU price up higher - shown ny red yellow green Lrs and also green above green dotted

Regards


F

 

[Yorkshire Terrier]

Bout GU @ 66 sl 62

70% off

 

[Yorkshire Terrier]

70% off

got out there just in time.

 

[Yorkshire Terrier]

Sl hit BE

 

[Forexmospherian]

GU

R - Both horizontal and dynamic at 6776 as shown on chart

 

[klw]

If I can give a point of view that may help.

From 9.45am GMT approx. gu was doing M1 swings of 10 - 12 points max. If using F.'s method takes 6 - 8 points from a high / low to provide a signal to buy / sell then it's pretty obvious that you're going to run into a big challenge to your entry almost straight away. Conditions have to be right for a trade i.e we need volatility AND range to be able to scalp with confidence. We did have volatility but not range and therefore no momentum. Personally I wouldn't have taken a long or a short under those conditions and both myself and YT alluded to this.

I can see MM ( and most probably others ) getting very frustrated. There is huge gap between where you get into a trade F. and where MM and others get into a trade. Unless you somehow complete your education for your followers then you will continue to have, frustrated followers.

 

[be-positive]

peter just curious would you have been long again GU (2.16/17PM.)

 

[Forexmospherian]

GU

at 2 21 pm start of new time window

Above 6770 still scalp buy - but 76 a R area - already breach to 80 - but is it enough

Can scalp sell under 72 and 68

Above 6777 and 82 still scalp buys

 

[Forexmospherian]

If I can give a point of view that may help.

From 9.45am GMT approx. gu was doing M1 swings of 10 - 12 points max. If using F.'s method takes 6 - 8 points from a high / low to provide a signal to buy / sell then it's pretty obvious that you're going to run into a big challenge to your entry almost straight away. Conditions have to be right for a trade i.e we need volatility AND range to be able to scalp with confidence. We did have volatility but not range and therefore no momentum. Personally I wouldn't have taken a long or a short under those conditions and both myself and YT alluded to this.

I can see MM ( and most probably others ) getting very frustrated. There is huge gap between where you get into a trade F. and where MM and others get into a trade. Unless you somehow complete your education for your followers then you will continue to have, frustrated followers.

Very good point klw`

I have mentioned this to MM and maybe others

I reckon over last 5+ years - i have easily had 3000+ live trade losses

But through experience - gained every week and every month and every year - and as the great golfer said - the more I practice - the luckier I get - and so my loss rate is on average under 30% and at times as low as 20% and my wins average from 62% on a 100 batch up to 87% on 100 batch ( my best)

Therefore - my experience and knowledge gained by taking now over 15k live trades using the basis of this method - will always help me at difficult price levels - but I will never be 100%

So MM is aware that - he will improve every month - and every 100 live trades - simply - because he will gain more experience and skill etc etc

I had thought new traders to this method would need 6 -9 months to become really good at it on a live account

i might be wrong - it might take 9 -15 months to get a constant 70% + win ratio with small size stops - but with perseverance - you can do

Unfortunately - already a few who tried it end of last year - probably realised it was not just not going to happen in a couple of months - but like anything in trading - its a never ending journey - and it will take time and patience

Regards


F