EU
4 30 pm
I hope this comment was not misleading - but of course some might find it that way ;-)
I said above 0855 we are still in scalp buy bias
Price never dropped under 56 /57 - which I think is above 55 - or am I wrong ?? lol
So we stayed with scalp buys - OK
Did we fail to make over 0875 / 80 - because if we did - it was back to scalp sells again ??
Well - NO we carried on higher above 0875 and 80 to so far 0907
We now need to stay above 0885/6 and test above 0907 next
If we dont make over 0907 and then test and breach under 0885 - well work that one out if you can T2Windows ?? -
Will pop back in now after 6 00 pm
Hope you all had a great day
I have 🙂
Regards
F
EU
I have come back to this comment to hopefully explain it more
I noticed MM liked it - simply because he would understand it - but as Pat says he would find it difficult to follow my comment - even with a gun held to his head - ( dont worry Pat - we wont go that far lol )
Ok at 4 14 /15 pm we had a High at 9007
Now if that was not breached within 30 mins - that favoured lower - BUT we had interim supports from 0885/6 - so if we dont try under say 82 and 80 - then we would not have breached supports and would try up again - and normally that would need another 30 mins
Well we did not breach under 0885 - so still in scalp buy land and then we went back above the previous high approx 4 -5 mins earlier than we should do - ie not a full 60 mins from first high. This is the approx 30 /60 min time rule that I use a lot - it works maybe 70% of the time as another clue for direction.
We then make above 9007 and 9010 and make a new high in next TW at 5 26 pm at 0926
5 30 pm was a sell then from 0921 with the stop really being 0926/7 - ie the high
It can be scalp sold again after 5 51 pm - as still not made over last high and 30 min rule coming into play by 5 56/7 pm
Now nearly 75 mins later its dropped under 0885 and so far made 0874 - a 50 pip fall from high
For me we are still in a bull US session above 0830 on EU and so would expect to see another try up above 0835 / or 0840+
For now under 0900 and 0890 we are still in the pullback / retrace mode and would need a bounce above 0900 and 0908 for holding any new scalp buys on above 0875.
Now none FX scalpers or short term Intraday traders will think I am talking gooblegook. But MM and I would hope NVP and even some of the other guys following would get my drift and understand what I am saying
Simple isn't it - lol - far from it if you are trying to follow every small wave within a wave movement - but it get easier the more you do it ;-)
Regards
F