My journey towards consistency

[Forexmospherian]

UJ

2 57 pm

Teased down to 81 - but never breached under 119 80 and then back over 84 and 86 was more scalp buys - but with out breaking over 120 00 / and 03 - its stuck in a range

 

[Forexmospherian]

EU

Not been able to make over 0775/ 80 R area - and so back into range with supports at 0715 / 20 and 30

Price at 48 and stuck again in the middle

 

[Forexmospherian]

UJ

2 57 pm

Teased down to 81 - but never breached under 119 80 and then back over 84 and 86 was more scalp buys - but with out breaking over 120 00 / and 03 - its stuck in a range

3 01 pm

yes the break up at 3 00 pm and it made 120 08 - above 95 on pullbacks should still be a scalp buy

 

[Forexmospherian]

EU - out of sync with GU as GU really wants up over 4780 - whereas EU want down under 0750

 

[gftrader32]

3 01 pm

yes the break up at 3 00 pm and it made 120 08 - above 95 on pullbacks should still be a scalp buy

F, UJ 2 21 was scalp buy?

 

[Forexmospherian]

UJ

Remember 120 15 up to 25 is all a R area - and then 119 84/ 6 and 119 98 / 99 is support

 

[Forexmospherian]

F, UJ 2 21 was scalp buy?

After 2 03 pm and then as long as we stayed above supports at 84 / 86 - it had to go up

So 2 21 pm OK and then again at 2 44 pm at 88 - ie all above 84/ 86 was scalp buy land

 

[Forexmospherian]

UJ

The only main R was 98/ 120 00

Now we will get next R's at 120 15 to 25

 

[Forexmospherian]

F, UJ 2 21 was scalp buy?

Also remember 30 min rule on low from exactly 2 00 pm - that favoured higher after 2 30 pm

 

[Forexmospherian]

I would be very impressed if you scalp sold at 3 09 pm at 120 15 - I think Major M would have been as well

For now above 120 03/ 4 - still in up scalp bias even though 15 was a scalp sell

 

[KostasSt]

Was looking to buy 2.20 then while sorting the dial ticket price spiked and the price seem too big for an entry. I guess i would still have been stoped out at 2.44 pullback

 

[Forexmospherian]

UJ

3 18 - testing dynamic TL support at 120 03 / 4 now

Would need under 120 to stay in sell - otherwise over 07 and 120 10 then scalp buy land again

 

[gftrader32]

I would be very impressed if you scalp sold at 3 09 pm at 120 15 - I think Major M would have been as well

For now above 120 03/ 4 - still in up scalp bias even though 15 was a scalp sell

No i didn't

 

[Forexmospherian]

Was looking to buy 2.20 then while sorting the dial ticket price spiked and the price seem too big for an entry. I guess i would still have been stoped out at 2.44 pullback

This is were it difficult at the start

I work on very tight stops - but if you are happy to have 7 -10 pip stops - you would get away with staying with the bias above 119 84 and 86 wanting price higher

Over time - all traders can get down to 5 pip stops - but first few hundred scalps - it difficult until you are really into reading PA at what I call the "coalface"

 

[Forexmospherian]

That stop on UJ sell at 3 09 pm at 14 /15 could have literally been just 2 or 3 pips max- as you knew 15 was the first R area

 

[gftrader32]

Also remember 30 min rule on low from exactly 2 00 pm - that favoured higher after 2 30 pm

I am having difficult time understanding this rule....

when a new low in a down trend didn't break for 30 min it should go up?

when a new high in an uptrend didn't break for 30 min it should go down?

is this correct?

what about 60 min???

 

[Forexmospherian]

I know we are not concentrating on this pair - but GU been a nice scalp buy above 4780 and after 3 09 / 11 pm

This might try and take EU up as well

 

[Forexmospherian]

I am having difficult time understanding this rule....

when a new low in a down trend didn't break for 30 min it should go up?

when a new high in an uptrend didn't break for 30 min it should go down?

is this correct?

what about 60 min???

Yes in a nutshell - correct

If they go over 30 mins with no breach - then they need another 30 mins approx to try - thats if the market wants the levels breached

So after 25 min on a low you have to favour scalp buys on pullbacks

similar after 25 mins on a high - you have to favour scalp sells on any teases up


Its only another clue - but works over 70% of the time

 

[Forexmospherian]

Sorry to mention GU again - but another classic set up

3 00 pm low at 4780 - HL at 84 and then after then just scalp buy -

It made 43 pips from 3 00 pm - ie in 25 mins -

 

[Forexmospherian]

Hows it going guys

What are you thinking next on either UJ or EU ??