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

[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

HERE is the up tl from this morning, no way was it a dynamic support at 1225. it had broken and dy support was at 53 not 48 surely

 

[Forexmospherian]

HERE is the up tl from this morning, no way was it a dynamic support at 1225. it had broken and dy support was at 53 not 48 surely

Hi MM

You have to breach both Dynamic and horizontal supports or Resistances for a larger move

So yes 53 might be breached - but the important ones for me where 46-48 - as shown on my chart

Sorry about prices - all my references where to the GU - not EU - and I just posted incorrect EU prices - but all the debate is based on the GU

On your chart posted here - you are not including other dynamic up trendlines - from the earlier GU low at 6731 neither

But for me we had HL's any way - and this was confirmed by 48/49

the reality is 55 was a saclp sell from 12 09 to 12 30

But from 12 30 to 1 00 pm 55 is a scalpbuy

And then after news - the line in the sand was 50- 55 - as above higher - and below lower

the market is dynamic - so prices are always only at one point of time relative to structure

From 9 00 am this morning - the GU wanted back up and fought against the down session AM trend - to make it above 55 and 65 and then over 3680 +

Regards


F

 

[MajorMagnuM]

Hi MM

You have to breach both Dynamic and horizontal supports or Resistances for a larger move

So yes 53 might be breached - but the important ones for me where 46-48 - as shown on my chart

Sorry about prices - all my references where to the GU - not EU - and I just posted incorrect EU prices - but all the debate is based on the GU

On your chart posted here - you are not including other dynamic up trendlines - from the earlier GU low at 6731 neither

But for me we had HL's any way - and this was confirmed by 48/49

the reality is 55 was a saclp sell from 12 09 to 12 30

But from 12 30 to 1 00 pm 55 is a scalpbuy

And then after news - the line in the sand was 50- 55 - as above higher - and below lower

the market is dynamic - so prices are always only at one point of time relative to structure

From 9 00 am this morning - the GU wanted back up and fought against the down session AM trend - to make it above 55 and 65 and then over 3680 +

Regards


F

im sorry but i must be going mad. this brown line on my chart is definitely there and definitely goes from 31 but you saqy it is not included?!?

 

[Forexmospherian]

im sorry but i must be going mad. this brown line on my chart is definitely there and definitely goes from 31 but you saqy it is not included?!?

Lol

Trading will send anyone mad - over time

Well here's my charts with multi lines and channels - and clearly different to yours

I have said all charts are not that accurate - but with you flattening out price - you do get different angles etc

On your chart and my chart though - we needed under horizontal support - not just dynamic

Mine were with 2 pips of each other

Also on trendline is just not enough for the accuracy we need - so be safe add to them

Other main point I think you also overlook

The GU from above 45 and below 65 was in a BTTZ area for hrs

Thats the markets equivalent of printing money and just fooling all traders

Regards


F

 

[MajorMagnuM]

ok thanks for the picture.i will start from square one as i think i understand less than i thought i did. Does anyone know how to judge if a chart is flattened our or not. How do i judge the correct perspective? i thought that whatever the aspect, the objects will remain constant in relation to each other?

 

[MajorMagnuM]

What really concerns me is that when i review this and i have alot, there are 99 reasons to sell and only one interim support line against it. even the longer white dotted has crossed down thru green. When i look at this, all i can see is a perfect sell.
i am really concerned about this cos it means i could not be more wrong about how to read price action

 

[Yorkshire Terrier]

What really concerns me is that when i review this and i have alot, there are 99 reasons to sell and only one interim support line against it. even the longer white dotted has crossed down thru green. When i look at this, all i can see is a perfect sell.
i am really concerned about this cos it means i could not be more wrong about how to read price action

I wish i could help MM but i'm still getting to grips with the 3 Fast LR's.

 

[Forexmospherian]

What really concerns me is that when i review this and i have alot, there are 99 reasons to sell and only one interim support line against it. even the longer white dotted has crossed down thru green. When i look at this, all i can see is a perfect sell.
i am really concerned about this cos it means i could not be more wrong about how to read price action

Hi MM

Well please look again at LR price structure

Up to say 9 30 am - the GU had been a great sell

By 11 am it had risen back up 20 -25 + pips


After 11 20 pm - it posted a HL at 45 - and then did it ever breach under 45 from 12pm to now ??

TRO's strapline is - you only need a horizontal line

If you had placed one at say 45 or even 43 allowing a spike - then price never went under again all day

Your perfect sell could have been a prefect sell - had it dropped under 45 and 43

As I know we have said before - you need to breach both dynamic S & r - ie 52 for you - as well as breach horizontal S & R - ie at 45

Even then we would have still needed under 30 to make a new daily low

please dont beat yourself up over one trade

Just say - I got it wrong - and I hope all the reasons I have explained - make you see your error

We all make them - and as a scalper mostly at least one of few every day

The key is to remember the points I have mentioned - and carry on again - and again and again - and you will then always have more wins than losses

If you are not - then - is bias - effecting your trading decisions ?

As you know - a trend is any move over 3+ pips - so always be prepared to trade both ways - but ideally for 10 + pips - not chase ever 3 pips

Regard


F

PS - missed out main point - after 12 30 pm - my green LR was up over the green dotted - yet again saying price structure had changed

 

[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.[/QUOTe
I dont know about the 6 to 8 pips for a signal?? 55 was a scalp sell signal when 58 was the high.

Hi MM . I don't have charts in front of me, the trigger is what. ? 3 LR's over and that would have got you in at 55 ? If that was the case then from memory that m1 swing was about 10 - 12 pips in length so were you up about 5/6 points at one stage ? If so that should not have turned into a loser. All from memory and what you typed so I could be completely wrong. Will have a look in the morning. The reason I said 6 - 8 points was that I seem to recall you posting another chart querying why a signal had failed and it was way below the swing high.

If you can get in at 3 points from a swing high or low then please show me as that is excellent lol.

 

[Forexmospherian]

What really concerns me is that when i review this and i have alot, there are 99 reasons to sell and only one interim support line against it. even the longer white dotted has crossed down thru green. When i look at this, all i can see is a perfect sell.
i am really concerned about this cos it means i could not be more wrong about how to read price action

Like that chart with this comment MM

That's the one to use

But don't forget Horizontal lines as well as trendlines

Regards

F

 

[Yorkshire Terrier]

Morning all.

 

[Forexmospherian]

Friday 16th May 2014 - Pre Opens - approx 6 50 am UK

Good Morning Intraday FX Traders

Last day of the week and not a lot of red news announcements from first look

Normal stuff

A quick Update and review of the main pairs I hope to be trading and then 30 and 60 min updates depending on how busy the market is.

Given up trying to call every scalp in advance - had a couple yesterday last less than 3 mins but still do over 10 pips - but will be concentrating more on Price levels to scalp buy or scalp sell along with my interpretation of the market bias on the pair we are trading - or plan to trade.

All questions are welcome - although in busy times - might not have time to answer immediately .

Will also review any FX pair if requested as i normally dont trade the UJ / EG or the Cad.

Have a good day - stay focused - plenty of breaks - watch the time windows and if in doubt - take profit - or don't enter

Regards

F

 

[Forexmospherian]

GM - YT

Have a good day ;-)

 

[Forexmospherian]

OK - EU and EJ

Both scalp buys from the 6 30 am time window on the LR charts

 

[Forexmospherian]

Similar with GU and UJ - but only in EJ as don't like oversaclping simultaneously with no money already in the kitty

Coming up to 7 00 am - hr change and EO - so either down to 30% stakes or total exits depending on the latest PA and R area

 

[Forexmospherian]

EU - might give up at 3715 -17 area - EJ - 25 -29 areas

If the do - will be looking for scalp sells - if they breach still hold scalp buys

 

[NVP]

good hunting all........been difficult to get to charts this week due to work but will try later

N

 

[Forexmospherian]

GU was first to stop and pullback - but not in that pair - EU and EJ still testing R areas mentioned already

 

[Forexmospherian]

good hunting all........been difficult to get to charts this week due to work but will try later

N

Morning N

Same to you and hope you have a bit more time to play today

Have a good one


Regards


F

 

[Forexmospherian]

EJ - now at 33 and only on 30% stake above 29.

Would exit 30% stake if we drop under 25 now