A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

Scalping Pre Opens

EA

6 50 AM

I was not up in time to catch a 5 51 am scalp buy worth 14 -15 pips - but was OK with a 6 20 / 21 am scalp sell that as bagged me my first 8 pips of the morning

GU

6 39 am - a scalp buy - but trouble is - after the EA - everything else seems so slow and pre Opens - you have to accept that you might even struggle to make even 5 pips net gain - but at least its a start - and 2 or 3 scalps the hour before the opens - might only make you 10 pips some mornings - whilst other mornings - I have ended up nearly reaching my daily target before 7 10 am

Also expect at the 2 opens - possible spike and quick moves - as more bots and trades kick in - not every day - but it is common in that first few mins of the morning opens

 

[Forexmospherian]

EU

7 00 am Update

The low over night I have as 1073 and over the last few hours we have seen a 40+ pip rise and another scalp buy after 6 39 am from 1110 that is just testing now 1117 with it needing over 1123 to stay with any buys

We know under 1080 and 70 - we would be looking at more scalp sells and if we make over 1125 and 1130 - i will be taking more scalp buys.

In the 50+ pip range in between - we either scalp for 3 -10 + pips - or just wait - or chose another pair - maybe like the EA or EJ

 

[Forexmospherian]

Scalp update

The 6 39 am GU scalp buy as just made 5411 - a 6 pip net gain and the 6 39 am EU scalp buy that I got in late at 6 50 am as just made 1123 -- 12 pip net from 6 39 am and 7 pips again for my late entry

So at approx 7 00 am - I now have 21 pips in my scalp kitty fund for Friday Am session

 

[Forexmospherian]

7 02 am

With the AU appearing bullish this morning ( well above its LiTs atm ) then as you might guess - the EA is bearish as well as the UCad - another oppositely correlated pair to the AU

Remember all bias can easily change after the London Open first hour - or the moves can just carry on

 

[Forexmospherian]

EU

7 00 am Update

The low over night I have as 1073 and over the last few hours we have seen a 40+ pip rise and another scalp buy after 6 39 am from 1110 that is just testing now 1117 with it needing over 1123 to stay with any buys

We know under 1080 and 70 - we would be looking at more scalp sells and if we make over 1125 and 1130 - i will be taking more scalp buys.

In the 50+ pip range in between - we either scalp for 3 -10 + pips - or just wait - or chose another pair - maybe like the EA or EJ

EU

7 07 AM

We only made 1123 on the pre Open scalp buy and at 7 00 am we had the spike down so was not able to scalp buy more over 1125 and 1130

Above 1100 - I will still favour buys again for now - but if we drop under 1100 and certainly 1090 - then my Open bias starts to change again

 

[Forexmospherian]

7 02 am

With the AU appearing bullish this morning ( well above its LiTs atm ) then as you might guess - the EA is bearish as well as the UCad - another oppositely correlated pair to the AU

Remember all bias can easily change after the London Open first hour - or the moves can just carry on

EA

7 10 AM

7 00 AM and the EO open saw a continuation of the 6 21 am scalp sell

I had not left any partial on from first scalp sell - but do have one 30% partial sell still on from yesterday

I was late entering the new scalp sell after 7 00 am - losing 6 pips - but it as now dropped another 30 pips - all within 6 mins

I am sure new followers can understand why we love this pair

 

[Forexmospherian]

7 15 am

Looks as though the EO at 7 00 am started off 4 scalp sells on the EU / EA / EJ / GU - got only 2 of them - both slightly late - but certainly nice moves - and ideal for my set up

 

[Forexmospherian]

I am interested to know how Bob Volman scalpers look upon Opens - do they trade them - or stay away from them ?

After looking a few times through that thread - i am amazed none of the followers are taking over 15 or 20 scalps a day - many seem content on just 3 trades ??

 

[Forexmospherian]

7 02 am

With the AU appearing bullish this morning ( well above its LiTs atm ) then as you might guess - the EA is bearish as well as the UCad - another oppositely correlated pair to the AU

Remember all bias can easily change after the London Open first hour - or the moves can just carry on

AU

7 22 am

As already mentioned - its above its LiTs and bullish this morning so far

Again its been scalpable after 6 21 am and 7 00 am - both as buys and so far its new morning high is 7269 - 25 pips from 6 21 am

Not traded it so far ( bad - should have got a partial on before 7 am ) but if we stay above 5251 on pullbacks - its still another scalp buy

As I finish typing it still been rising up to 73 now

 

[Forexmospherian]

EA

6 50 AM

I was not up in time to catch a 5 51 am scalp buy worth 14 -15 pips - but was OK with a 6 20 / 21 am scalp sell that as bagged me my first 8 pips of the morning

GU

6 39 am - a scalp buy - but trouble is - after the EA - everything else seems so slow and pre Opens - you have to accept that you might even struggle to make even 5 pips net gain - but at least its a start - and 2 or 3 scalps the hour before the opens - might only make you 10 pips some mornings - whilst other mornings - I have ended up nearly reaching my daily target before 7 10 am

Also expect at the 2 opens - possible spike and quick moves - as more bots and trades kick in - not every day - but it is common in that first few mins of the morning opens

EA

7 26 AM

Its now dropped 60 pips - yes 60 pips from 6 21 am

I initially came out 100% scalp sell stake at 8 pips - but as mentioned still have 30% stake partial on from yesterday

I then entered another scalp sell after 7 02 am

Atm I have 60% made up of 2 partial stakes and would only add another 100% stake on a sell now under 5270 and 60

 

[Forexmospherian]

7 34 am

Here for London Open hour this morning

Going to have a 10 min break and then update for the LO

I have my daily pip target already in the kitty - so can relax and take it easy

Stay focused and if any new followers have any questions - feel free to ask them and we can try and show answers live on pairs as moves happen

 

[Forexmospherian]

Some EU red news at 8 00 am next

 

[Forexmospherian]

EU

8 04 am

We cannot make over 1123 + and so price drops again with 1104 first interim support area

Not in a scalp atm on EU - need ideally under 1100 or over 1125 and 30

 

[Forexmospherian]

EA

8 11 AM

I still have atm 2 partial stake 30% stakes on - 1 from yesterday with stop now in multi hundred pip profit at now 5450 - and the last one from this morning - now set at 5322

5261 is the low - so will only add to new sells with scalps under 5255 and 45

Keep an eye on time rules now on many pairs interim lows and highs

 

[Forexmospherian]

EA

8 12 AM

The fact that the 5261 low had lasted over 30 + mins with no breach - was another clue on scalp buys

5267 is the cut off on any scalp buys and ideally we need above 5300 to stay with or take new buys

 

[Forexmospherian]

EU

8 16 AM

Its managed over 23 to 28 - and then fell again - manipulation at its finest - trick stuff to get intraday traders into wrong swing trades

Now we need over 1130 or under 1100 and 96 - to take new scalps

 

[Forexmospherian]

EA

8 12 AM

The fact that the 5261 low had lasted over 30 + mins with no breach - was another clue on scalp buys

5267 is the cut off on any scalp buys and ideally we need above 5300 to stay with or take new buys

EA

8 17am

Well under 5267 was a sell - but i wanted tto only sell more under 55 next - so went half way

at 8 15 am had 160% stake on sells - but will drop down to 90% next

 

[Forexmospherian]

EA

8 22 am

Its now dropped approx 100 pips from when i started scalp selling this morning - and approx 550 pips from yesterdays highs

 

[Forexmospherian]

No disrespect to the EU - but its now dropped 35 pips from the morning high - but no new lows like with EA

 

[Forexmospherian]

Be ready for more red EU news at 8 30 am next