A Master Class in FX Intraday Trading by F & Co

[NVP]

Morning Sun and NVP


My AUD/USD is now set 3 lrs 8,12 and 27

I,m not a LR guru...but 8-12 looks a little tight ?

N

 

[Oscar Reed]

8 and 12 is a wee bit tight.

So's the line chart on price, back to candles.

No LR trade today on DAX just S/R levels.

 

[Forexmospherian]

Morning Guys

Don't know how you have found this morning - but not been too bad on normal pairs

I am very keen to get all followers to work out Morning AM Price Structure Bias - and I find best assistance from what I call the LiTs Area - ( Line in the Sands )

I am going to post the EA chart next - as its a good example on LiTs - based prior to the 2 opens

Will post chart and explain

Might not be popping in so much over this week and even next week - but don't want to stop all students of the method progressing - so hopefully will post a few charts and answer comments etc.

OK - first the EA

 

[Forexmospherian]

EA - LiTs area for Tuesday AM session from Opens

EA

1 Min Full LR chart

Marked the LiTs area but not covered it in across all of the chart as not to hide any candle action.

Basically above 5260 - the PS goes bullish and favours tests of R areas - and so prices above 5260 favour buys

Prices under 5240 are in a bear Price structure for session. Remember the session is today AM - not trend for yesterday or last week or for month - we are only interested in the movements of now - and so really weekly / monthly trends are not that important for Intraday and scalping

Either side of any LiTs - we will get S & R

So far 5195 - 5200 is the support area

 

[Forexmospherian]

8 and 12 is a wee bit tight.

So's the line chart on price, back to candles.

No LR trade today on DAX just S/R levels.

Morning Oscar & NVP

It really does depend on platform

I have seen in past needing a 6 and 10 quick setting - and it was still not as quick as standard 8 and 12.

Also it depends on how you want to scalp and react to change.

If you know on EU you can make profit over 1.2 pips - ie cover commission and spread cost - then you might scalp like NVP and just grab 2 -5 pips and so you ant a super quick LR indication.

If however you are not interested in any scalp under 5 or 7 pips and dont want to entertain jumping in and out - then 8 and 13 is better

Horses for courses and also scalping experience etc might dictate how you feel about it.

Personally - I dont want to keep scalping for 3 to 5 pips - I want the 7 to 25 pip moves - but how I operate - when they are not there - then I will scalp and just get pips in the kitty whilst waiting to catch the larger moves from multi crossovers and at key price areas.

When the EA and GA and EJ are on nice moves of 10 -25 pips - then I don't chase 2-5 pips off other pairs.

Every session can be different - so its finding your own preferences really

Hope that helps and GL Oscar and have a good day

Regards

F

 

[Forexmospherian]

EU - Tuesday LiTs Area and chart for AM session

EU

Midday update

I count the AM session as pre Opens - ie 6 00 am UK time up to at least Midday and some days up to 2 00 pm and US session

I showed an example of the EJ yesterday having 2 LiTS areas over 12+ hour session

This is the EU on for this morning

Critical price is 0748/50 but 2 levels shown on I min chart


So for now prices that have risen and stopped under 0748/ 50 were just sells again

We know we now need under 0715 ( low from last Friday ) to carry on selling - but if we go back over 0750 - i will be looking for more new buys

Please tell me if its still not making sense yet

Either side of the LiTs you can scalp both ways - but preference should be with the Bias etc

 

[Forexmospherian]

Example of Time Rules on EU for now

EU

12 15 pm

EU low so far today is 0723 at 11 34 am

it was then a scalp buy for approx 6 -8 pips and then at 11 57 tested low of 23 but stayed just above

So at that point it was over 20 mins and now NO new low

We need to see ideally over 30+ mins for more confirmation and then over 50 -60 mins with no new level ( low in this case ) to be saying supports holding to buy more

I am buying more above 25 and 28 because I have more quick and interim LRs going under giving dynamic support

My longer 3 are still over - but for now the other 6 + LR's and time rules out trump the bias of price structure

 

[Forexmospherian]

What happened to Pound crosses at 12 21pm

All 3 were scalp buys - missed simultaneous scalp buys as still in EU scalp buy - but got some pips off the GU scalp buy

Pound crosses suddenly woke up lol

 

[Forexmospherian]

Typical

GU goes up 25+ pips in approx 13 mins

EU makes only 10 pips in same time

Sod's law - but still positive pips

 

[Forexmospherian]

Notice 1 30 pm US Dollar news is orange and not red - still be aware just in case

 

[Forexmospherian]

@keen246

A point to assist keen

Last 25 mins we have had great action on the Pound crosses - all buys

Once you have entered - ideally at 12 21 pm - UK time - then if you are lucky enough to see it rise say 15 -20+ pips - then please dont think you after exit if it pulls back on your say 5 or 7 pips

That's why entries on my method are key

If you check on any pound crosses - the 12 21 pm and 12 30 pm UK times were nice buys and have all gone up now over 40 pips

But if you say entered at 12 38 /9 pm on GU - its was still a scalp buy - but you would not have got 7 pips - if that and now you would be taken out as 12 48 pm became a sell

Its really is a case of trying to get as near as possible to start of scalp moves - not joining in after they have been going 15 -20 mins - as quick moves do like quick retraces

 

[Forexmospherian]

EU

12 57 pm

Very late to party

Came out buy after no try over 0740

sell was after 12 39 and under 33 and 30 - but only went in at 21 - very late as was still trading GU as well


We made under Friday's low of 0715 and now testing 0696/ 0700

 

[Forexmospherian]

Best Hour of the Day

Normally - the 6 30 am to 9 00 am ( UK time ) slot is the busiest of the morning

Sometimes the best hour is after 8 00 am - other times - its an be from pre European Open and then slows down after 8 30 am

Unless we get 9 30 am or 10 00 am news - then from 9 30 am to 11 00 - even 11 30 am can be slow.

Then Midday to 2 30 pm all depends on news items again - and today none

However 12 21 pm to now - as been very busy on many pairs

New Low on EU

Quick 30+ pip moves up on Pound crosses - and then falls down again

Now More falls on Euro crosses - ie EU / EA / EJ

its been mad !!!!

 

[keen246]

@keen246

A point to assist keen

Last 25 mins we have had great action on the Pound crosses - all buys

Once you have entered - ideally at 12 21 pm - UK time - then if you are lucky enough to see it rise say 15 -20+ pips - then please dont think you after exit if it pulls back on your say 5 or 7 pips

That's why entries on my method are key

If you check on any pound crosses - the 12 21 pm and 12 30 pm UK times were nice buys and have all gone up now over 40 pips

But if you say entered at 12 38 /9 pm on GU - its was still a scalp buy - but you would not have got 7 pips - if that and now you would be taken out as 12 48 pm became a sell

Its really is a case of trying to get as near as possible to start of scalp moves - not joining in after they have been going 15 -20 mins - as quick moves do like quick retraces

Thanks F,
Unfortunately I was not on my desk at that exact moment. It was a nice move if someone was lucky to take it. It has now completely retraced.
Cheers,
K

 

[NVP]

hey all

I would have stayed usd bull whenever possible in London session (as earlier indicated).then got right back on it early us.................

ok gotta scoot .E..... I see the Euro is getting destroyed now ...........60-70 pips down since Asian openings

N

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1706.html#post2654582

 

[Forexmospherian]

Please dont place too much pressure on yourself if you did not make 50 or 100+ pips in last hour

You are only going to cover 4+ pairs with multi screen set ups - and then its a risk on stakes etc - at least scalping you can bank 1 or 2 pairs earlier than others

Our main objectives are to reach your daily targets - whether 25 pip or 30 pips or 50 pips a day

OK its great if you double or triple it - but don't think its always possible - - just don't lose 20 or 30 or 50 pips lol -

 

[Forexmospherian]

Thanks F,
Unfortunately I was not on my desk at that exact moment. It was a nice move if someone was lucky to take it. It has now completely retraced.
Cheers,
K

Yes - correct - an excellent scalp buy - and a very good scalp sell after 12 48 / 51 pm

So 2 moves over the hour - - and on 3 pairs - although I did not get all 3 as also in EU as well

 

[NVP]

hey all

I would have stayed usd bull whenever possible in London session (as earlier indicated).then got right back on it early us.................

ok gotta scoot .E..... I see the Euro is getting destroyed now ...........60-70 pips down since Asian openings

N

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1706.html#post2654582

http://www.trade2win.com/boards/tra...fx-intraday-trading-f-co-384.html#post2654572


100% agree with F .........chipping away at EU was potentially profitable today so far .......and getting better .......

ok later all

N

 

[Forexmospherian]

hey all

I would have stayed usd bull whenever possible in London session (as earlier indicated).then got right back on it early us.................

ok gotta scoot .E..... I see the Euro is getting destroyed now ...........60-70 pips down since Asian openings

N

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1706.html#post2654582

Hi N

yes under Friday's NFP low and now down at 0688 low for now

Would need back over 0715+ to even think about holding any scalp buys on longer

Hope you had a decent morning

Regards

F

 

[Forexmospherian]

EU

1 45 PM

If we stay under 0715 and ideally under 0700 then next main supports around 0650

Would be surprised if it drops that far - but then anything's possible in the FX game