My journey towards consistency

[gftrader32]

Even though the UJ as really been a buy from Friday after 118 93 and 119 00 and now this morning its up nearly 100 pips - that shows dollar strength and maybe yen weakness - there is still levels on the UJ chart on friday evening and this morning to scalp from

For example today at 9 30 am we could have sold just under 78 and made 10 -13 pips

But the session bias as been bullish and so it been better to scalp buys at correct levels and time

This one isn't straightforward, is it?

I mean why under 78 at 9 30 and not under 63 at 8 30 am?


I guess I'll stick with picture that I highlighted in my previous post, could you have a look at it?

 

[Forexmospherian]

yes I am reading these comments... just trying to build up a picture tbh....


so to get it straight....

- look at the chart for the previous X (30 minutes or 5-6 hours or previous sessions) to determine key levels?

- decide for the last X (30 minutes or 1-2 hours) if we are making HH and HL OR LL and LH?

- once determined, decide if buy scalps or sell scalp...

- look for the clues... tw, kt, lrs, trendlines...

Have I got it right? Am I missing something?

In a nutshell - yes - thats the basics of making your decisions - but it a lot more complex than say just 10 points

For example - you need to look at news calender as for example that can change the last 10 hrs or more - all within 5 - 10 mins

Also - its a money game - the players want to deceive and play and stop hunt

You need to learn gameplay theory and market deception clues - like the BTTZ area and false breaks etc etc

Step 1 to 5 is the simple basics - intermediate and advanced intrday trading is a lot more complex - but then Major M as managed to learn it and work with it over last year and you know how good he is now

 

[Forexmospherian]

This one isn't straightforward, is it?

I mean why under 78 at 9 30 and not under 63 at 8 30 am?


I guess I'll stick with picture that I highlighted in my previous post, could you have a look at it?

All down to PA and up bias and interim support levels / angles of TL dynamic supports etc etc - ie you need to see LL 's and LHs on 1 min to know its going to drop lower - if it cannot break under a level - then it will keep trying up

So 63 was not low enough - you needed under 59 and then staying under 68 to sell again

 

[Forexmospherian]

UJ

12 46 am

Stick an up trend line on from say 10 55 to then prices at 67 and then 74 and extrapolate up

Above line - still a scalp buy

 

[Forexmospherian]

Now next question to you on UJ

Were is next interim R levels???

Price currently at 89 / 91 level

 

[gftrader32]

In a nutshell - yes - thats the basics of making your decisions - but it a lot more complex than say just 10 points

For example - you need to look at news calender as for example that can change the last 10 hrs or more - all within 5 - 10 mins

Also - its a money game - the players want to deceive and play and stop hunt

You need to learn gameplay theory and market deception clues - like the BTTZ area and false breaks etc etc

Step 1 to 5 is the simple basics - intermediate and advanced intrday trading is a lot more complex - but then Major M as managed to learn it and work with it over last year and you know how good he is now

I'll start from there, I'll prepare my key levels and determine if we are making HH/HL or LL/LH... once decided I'll look for clues to buy/sell...

I understand it's not that simple, otherwise 90% traders will make money.... however, I need a point to start and for me it looks the right place for start.


I was looking only at 10/15 min PA to decide what to sell/buy... well to sell only tbh...

I wasn't looking at key levels nor HH/HL etc.


This was important piece missing from my journey...let's see how this will change my results and win % ...


I don't feel ashamed of how naive I am /was...it's what's next is what matters to me...

 

[Forexmospherian]

UJ - coming up to 1 00 pm

- can you now say the levels we need for more scalp buys OR - scalp sells ??

 

[gftrader32]

Now next question to you on UJ

Were is next interim R levels???

Price currently at 89 / 91 level

I guess it should be 97 then 120.27?

 

[gftrader32]

UJ - coming up to 1 00 pm

- can you now say the levels we need for more scalp buys OR - scalp sells ??

this one tricky i would say scalp buy at 87

 

[Forexmospherian]

I'll start from there, I'll prepare my key levels and determine if we are making HH/HL or LL/LH... once decided I'll look for clues to buy/sell...

I understand it's not that simple, otherwise 90% traders will make money.... however, I need a point to start and for me it looks the right place for start.


I was looking only at 10/15 min PA to decide what to sell/buy... well to sell only tbh...

I wasn't looking at key levels nor HH/HL etc.


This was important piece missing from my journey...let's see how this will change my results and win % ...


I don't feel ashamed of how naive I am /was...it's what's next is what matters to me...

No problem

it might be easy to me now - but last year major m was getting so frustrated at times as he was missing basic things.

Now he probably sees it so differently

All my main decisions are off basically the 1 min chart - everything I need for intraday is there - except new levels and previous levels of last day or so.

Its the hardest way to trade - but once learnt - its the most profitable and rewarding etc - so it worth trying it and knowing MM made it all within a year

 

[Forexmospherian]

this one tricky i would say scalp buy at 87

OK

this is what we do now

High so far 119 92 / 3 - note time

Then R levels at 120 to 120 20 area

Supports at 82 to 86

Would only really hold scalp sells under 80 - but can take them from 91 /92 at 1 01 pm - as LH

 

[Forexmospherian]

By 1 01 pm and next minute - i had a LH on 1 min and at least 5 LRs over price saying scalp bias is bear and a sell

If we cannot make under 86 or 82 - exit

 

[Forexmospherian]

Scalping is a skill that as to be dynamic - ie I did not know at 12 56 pm I could sell - but at 1 01 / 2 pm - i had the evidence and clues to sell

 

[Forexmospherian]

I will post my UJ chart in a bit for last hour and then you post yours and we will match clues and reasons etc on levels etc etc

 

[gftrader32]

I will post my UJ chart in a bit for last hour and then you post yours and we will match clues and reasons etc on levels etc etc

Yes that's sound good and helpful thanks

 

[gftrader32]

OK

this is what we do now

High so far 119 92 / 3 - note time

Then R levels at 120 to 120 20 area

Supports at 82 to 86

Would only really hold scalp sells under 80 - but can take them from 91 /92 at 1 01 pm - as LH

By 1 01 pm and next minute - i had a LH on 1 min and at least 5 LRs over price saying scalp bias is bear and a sell

If we cannot make under 86 or 82 - exit

Scalping is a skill that as to be dynamic - ie I did not know at 12 56 pm I could sell - but at 1 01 / 2 pm - i had the evidence and clues to sell

I will post my UJ chart in a bit for last hour and then you post yours and we will match clues and reasons etc on levels etc etc

These are very logic and make sense to the letter.

I will await your chart and will post mine to match clues reasons.

 

[Forexmospherian]

We have the high at 12 45 pm

we have not breached under 82/83 and so in a mini BTTZ area now

Above 93 and 96 - more scalp buys

Under 81 and 79 scalp sell

Otherwise wait

 

[Forexmospherian]

This move back above 86 could be totally false

As 30 min rule on interim highs gone

However it is only confirmed after another high by at least 3 pips and then a HL above 83

If we stop under 93 or 91 - we will test 83 again - but its manipulated tease - and really we dont want to trade traps etc

 

[gftrader32]

We have the high at 12 45 pm

we have not breached under 82/83 and so in a mini BTTZ area now

Above 93 and 96 - more scalp buys

Under 81 and 79 scalp sell

Otherwise wait

What made you say S at 86-82 area first...then what made you say S is 82/83 here?

 

[gftrader32]

This move back above 86 could be totally false

As 30 min rule on interim highs gone

However it is only confirmed after another high by at least 3 pips and then a HL above 83

If we stop under 93 or 91 - we will test 83 again - but its manipulated tease - and really we dont want to trade traps etc

sorry could you explain this? are you taking about 12 45 high? what do you mean by if we stop under 93/91 to test 83 again?

I understand it is BTTZ as we didn't breach the high nor the support (not sure why you decide 82/83 to be support though)