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

[Forexmospherian]

EJ - another new high again - although its been about 4 hrs since last one and price now made 139.17.

I think above 139 .02 still in bullish mode - but dont just scalp buy - let it pull back - or scalp sell it and see that 139.02/5 keep it up to have another try up again

I said this approx 2 hrs ago - used that 02 for scalp buys and 17 for taking scalp buys offs and scalp sells 3 pips under

2 hrs of a blooming approx 20 pip range - but made more than that out of the range with 4 scalps

 

[Forexmospherian]

Out in next 15 mins on a couple of school runs - but hope to pop back in between for 30 mins

See you a bit later and GL

 

[Forexmospherian]

ok re. ej
what iisee at 1400 is lower highs and lower lows.
interim support got broken at 14:06 @ 139.049
dy res from the fractal formed at 13:33 got broke at 14:06
so at 14:00 hour, we have all res holding, p.a lh/ll says down, averages indistinct
Hopefully this may reveal how I am seeing it wrong!

#

Yes it does ;-)

I will tell you more when I come back - but EJ mode today - up bias - check out all the HLs from say 7.00am and were the 2 main longer LRs are and of course even though not HH;'s with every HL - mode / bias still firmly up on a 1 min ;-)

Regards

F

PS - just off - but where was your trendline from early on ??

 

[Forexmospherian]

Here are charts illustrating how I was seeing it.
I have only added black trendline since I just read your question about it. I did not have it previously? the relevant one is the one drawn from bottom of big push up?
Any help appreciated, As have got a bit lost even reviewing what have done! sorry, muddled day for me. I go from glimpsing good practice to misapplying it and then back again!

Hi MM

Only back for 15 mins - but will say looked at your 2 charts - both OK

1 First one - both trendlines OK and both need to be broken for price to come out of up bias

2. Second chart with circle - yes a nice saclp sell with LH and LL - BUT

3. Last LL was still above trendlines

4. The time was in a time window and then the last LL - was still above the HL or a hour so so early and also it then gave you a HL at exactly on the hour change.

5. 139.00 to 139 05 is all support area

6. So HL from a low still above up trendlines and previous HL's and then support area then by 139.05 my Lrs were turning up and basically with the other clues we have discussed - the scalp sell had finished and withing 5 mins the scalp buy was in progress

That's how I would read it with the 2 trendlines massively important still and even if they are both broken - don't think it will just drop say 50 -100 pips - the market is trying to read all traders minds - and knows how to catch us all out

In terms of clues - an 8 out of 10 one - but it still onlly made about 12 pips or so - as still in the range etc

hope that helps

Regards

F

 

[Forexmospherian]

Morning Traders

Just gone 7.10am UK time on the last trading day of the month - Friday 29th November,

During the last 12 hrs we have seen more new highs and some being monthly or quarterly or even yearly ones - such as

GU at high of 6375 - EA at 5037 - EJ 139.75 - GJ -167.94 - GA - 8060 etc

This may be significant at a month end with many pairs now OB and so may see larger pullbacks before the end of the year etc

Because I trade intraday in the now - rather than fortune telling - I am not too bothered about the Macro view - but never the less like most traders would like to catch 500 - 1000+ pip rallies when there is an opportunity

Could we be seeing this opportunity soon ?

Meanwhile next hour and EU in range between 3622 to 3605 - and we need to see a proper breach of either price to look for the next wvae direction. Above 3600 - I still see bullish up moves and really we need under 3590 and below to be holding scalp sells

UChf - I still have bearish - but in a range and like EU needing a breach either way to start the ball rolling

Back in a bit with some comments on more pairs

Not in any scalp atm

Have a good trading Friday ;-))

Regards

F

 

[Forexmospherian]

ok what I am missing from the précis you gave might be a global view. I hope that's it. Also, I am getting confused over which key lows and highs I should be using for comparison. i.e point 4.
Currently what I do is watch each candle and compare to the last few. These observations clearly are relevant but should be kept in context of a key previous swing high or low?

Hi MM - hopefully we will have some more set ups today and then I can try and explain more on the important HH's or HL's etc etc - but it really connected to S & R levels as well - and all makes sense when you look at a chart over say 12 or 48 hrs - but on a small frame

Have a good day

Regards

F

 

[Forexmospherian]

EJ - Fallen nearly 40 pips in last hr or so - to late to catch a nice part of it but in late with scalp sell and seeing of 139.00 ish will hold it . Would take 70% off at 139.00 from 139.11 and with it being a time window - might even pull all ready to see there is a scalp buy opportunity Lets see

 

[Forexmospherian]

70% off at 139.00 and the other 30% will pull if we bounce over 06

 

[Forexmospherian]

All off EJ scalp sell at 138 987 now

 

[Forexmospherian]

First scalp of the day and 11 pips net within approx 11 mins - so not to bad and RR over 2 - good start - but not here for London open as school run .

Will be back then in next hour then and will check out at least 6 pairs to see were we can find some nice opportunities

GL

 

[Forexmospherian]

EJ - Fallen nearly 40 pips in last hr or so - to late to catch a nice part of it but in late with scalp sell and seeing of 139.00 ish will hold it . Would take 70% off at 139.00 from 139.11 and with it being a time window - might even pull all ready to see there is a scalp buy opportunity Lets see

Just back now and this post above is from an hour ago

138.96/7 was low and yes EJ became a scalp buy back over 139 00. So far its been up to 139 .22/3 and as also posted a HL at 139 04.

So above 04 still a scalp buy but you need over 25 and 28 to hold it on

Under 08 and 03 back to scalp sells

Will look at other key pairs now as well

 

[Forexmospherian]

GU - under 6340 its scalp sells for supports at 6320 and 6300 then 6280 ish

Dont know which one will hold but might by hour change

Similar EU needs under 3590 to hold scalp sells on longer

 

[Forexmospherian]

AU - been in up bias last 6 hrs but coming to interim R's at 9125-30 area

 

[Forexmospherian]

EA - dropped over 100 pips in last 6 hrs or so. Above 4900 still intraday bullish - but needs to regain supports for now - as under 4900 further falls

 

[Forexmospherian]

EJ - nice - in that scalp buy again and taking another 70% off at 139.27. keeping 30% on above 139.15 with stop just in profit

 

[Forexmospherian]

The EJ as been classic for me this morning.

The low was in a time window at 7.30 am ish and the start of the buys was at exactly 7.39 am - the end of my time window and nearly 30 pips back.

All other clues backed this turn happening - so a good one - but not able to have made a RR of 5 or 6 out of it as was out on school run in between ( shame) ;-)

 

[Forexmospherian]

Notice on calendar today a couple of reds at 10.00 am and 1.30pm - otherwise last day of the month and not too much to uses as excuses for 200 pip moves ;-))

 

[Forexmospherian]

Dont like the PA on the EU so far this morning - but at least staying above 3600 for now

As an approx guide -need to see back over 3517 and 20 to know it trying up again and over 25 and 28 hold scalp buys on

Under 3597 and 3590 - hold scalp sells for lower

 

[Forexmospherian]

GU - so far 6322 is holding .

Need to see if it lasts over 30 mins from being posted and ideally we need over 35 and 38 to start to show a turn is being attempted

Under 6318 scalps sells etc and then 6300 another interim support area

 

[Forexmospherian]

What a lovely easy trading morning so far - Players must be asleep and liquidity providers must be counting all the monies they have made this month - to work out how much more the need to finish off the month ;-)) ( Ok only joking )