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

[Forexmospherian]

GU

No key news today on the pound and price atm at 6944 - with the low of yesterday at 6933.

We are in down rally from approx 7200 of a few weeks ago and need really back above 6970 and 7000 to consider we are properly turning and trying to stay with the longer term up trend.

For now we are in a 20 -25 pip range with supports trying to hold price above 6935 -40

Under 6933 and 29 look at holding scalp sells or taking new ones for a further fall - and whilst above 6938 then you can try scalp buys - but knowing we need above 55 and 60 to hold them on longer

 

[be-positive]

morning Pete ---- hope you have a nice break and dont forget your age when it comes to lookng at younger crumpet ( lol only kidding )

 

[Forexmospherian]

CAD

Bullish this last week with a rise from 0740 are up to 0870 area with price currently at 0856

Above 0850 still in scalp buy mode - but needs above 68 and 72 to really hold scalp buys on longer - otherwise look for LH's and then sells - that can be held on under 0850 and 0843

 

[Forexmospherian]

morning Pete ---- hope you have a nice break and dont forget your age when it comes to lookng at younger crumpet ( lol only kidding )

LOL

Morning BP - I am probably looking forward to my trip later on in August for doing that ;-) - at my age I have to hold my stomach in more when I have got my speedo's on - and I am going to miss my bacon sarnies lol

Have a good trading day - and will be giving out some more tips during the morning

 

[Forexmospherian]

AU and EA

Missing out the EJ for now - as it PA is ugly and so not bothering with it for now - maybe next hour

AU - made 9470 area last week before falling back under 9400 and for now its been a scalp sell under 9385 with price currently at 9376.

Any bounces staying under 9382 are sells again - and really to hold scalp buys on we need above 9387 and 91.

9370 -75 is a support area - so maybe we can then look for scalp buys in another TW if the supports hold again

If price makes under 9369 and 65 - be in scalp sells or hold any you have on

EA - as normal the opposite - but the EA is being like the EJ this morning with very ugly PA in a 25 -30 pip range around the 4390 -4400 area.

i dont recommend trading the EA or EJ just atm

 

[Forexmospherian]

EJ

I will update you on this pair - even though atm I dont recommend trading it just for now

its a scalp buy above 136 88 - but needs back above 137 00 to hold any buy on for higher

The fact that is as stayed in under a 10 pip range 4 hrs means that its really flat on price and not just following the EU which during that similar time as really just be falling approx 12 pips

i think I will have to just carry on scalping the GU for 2- 5 pips as during the last hr it as at least made 3 definable scalp moves up and down - with the largest being just 6 pips, Similar even my least favourite EU is scalp readable with sells under 3611 and buys above 3603 for now

I am sure that will change - hopefully this next hr

Saying that here for London open - but popping out around 8 15 am for 30 mins or so

 

[be-positive]

EJ looking southbound from 1.3697 area ------- stop -4

 

[Forexmospherian]

8 00 am

EJ as just made 138 99 - and then pullback

Still a scalp buy above 91 /2 - but PA still not that nice

EU - keeping to its sell under 3411/12 and buy above 3403 routine - BUT a change going on

the low as now held over 30 mins at 3502/3 - so we should favour higher this next 30 mins - as long as 3502 holds and then we should try above 3412

 

[Forexmospherian]

8 00 am

EJ as just made 138 99 - and then pullback

Still a scalp buy above 91 /2 - but PA still not that nice

EU - keeping to its sell under 3411/12 and buy above 3403 routine - BUT a change going on

the low as now held over 30 mins at 3502/3 - so we should favour higher this next 30 mins - as long as 3502 holds and then we should try above 3412

 

[Forexmospherian]

Out in 5 mins - but will be back before next hr

GL - you need it in these market conditions - and dont forget - you can always wait and sit on hands ;-)

 

[be-positive]

this is like asking g. osburne to buy a flicking round of drinks ( squeaky tight -)

 

[Forexmospherian]

8 53 am

Back now - but looking at charts - i dont know why I am bothering for now - yes that bad ;-)

I suppose consistency wise - Cad still trying up and GU falling with a new low - and EU just asleep at a new low level

 

[Forexmospherian]

8 55

As I posted that last comment - EU moved and breached under 3400 making 3396 - still a sell - with scalp buys possible on bounces staying under 3408 for now

 

[Forexmospherian]

EJ

I hope you stayed with the sell BP - it stayed under 137 00 and then dropped under 136 92 - the scalp buy level and now tested 86/7

Under 136 92/3 - still a scalp sell on bounces

 

[Forexmospherian]

EJ

9 15 am - outside TW - I wanted to sell at 92/3 again - but just could not as main quick LRs were still under price

97 -99 is a R area - and 92 a support

You either wait to see if we try above R - or try under S - and by then we might be in another TW to be able to trade one way or the other again

 

[Forexmospherian]

CAD

Bullish this last week with a rise from 0740 are up to 0870 area with price currently at 0856

Above 0850 still in scalp buy mode - but needs above 68 and 72 to really hold scalp buys on longer - otherwise look for LH's and then sells - that can be held on under 0850 and 0843

Cad comment from over 2 hrs ago

We have now moved up over 10 pips and i added to 30% scalp buy at 62 and we are now at 67 and i will drop to 30% stakes again on the second scalp buy

Above 0859/60 - happy to keep both 30% scalp buy scalp trades on for now

 

[Forexmospherian]

Still in sells on EU and now EJ again and GU - but all on 30% with stops already in small profits

Will be back next hr some time and will also comment with some Intraday trading tips

 

[be-positive]

long GU 32

 

[Forexmospherian]

10 21 am

taken out EJ scalp sell with 2 pips profit - still in Cad buys and EU sells and GU - will hold hold 30% sell on under 6938/9 now - as above 30 -32 its is a scalp buy but needs above 39 and 42 to really hold on longer

 

[Forexmospherian]

Some Tips

If you can get a scalp into profit that allows you to lock in 1 - 5 pips profit - ie say you have a 8 pip scalp and then you take above 60 or 70+ % stake off - the 30% try and leave on with a few pips profit and then you can forget the trade - its a win / win

You will either end up with just a small profit 1 -5 pips - or you will have luck and the direction keeps going you way and then you might make 15 or 25 or even 100+ pip on your 30% stake

With this method - you can literally have 12 trades on 6 pairs and not worry about them at all - as you are not exposed to extra capital - and its no stress

If you had for example a sell on the AU under 9380 with say 3 pips locked in profit - and now a buy at 9367 and it goes above say 72 - you can lock another 3 pips profit in - and leave both trades on - knowing what ever happens you cannot lose

Worse case scenario is - you only make 6 pips profit - best case scenario - one direction stays going and it nets you 25 -50 or even 200 pips - but with no stress and does not stop you then trading another pair or pairs.