A Master Class in FX Intraday Trading by F & Co

[sun11]

Today I made an indicator which is a dashboard actually, which shows, different currency pairs range & How far is the current price from the current day high & Low. For multiple pairs this one easily filters which pair to choose for trade.

 

[Forexmospherian]

Good Morning F,
Its new year eve...



That means, either we sell below day low or buy above day high right?

Morning Sun

In theory yes - and many might set up pending orders etc - but as you know - we could enter around either price at a BTTZ tease time - so we have to be careful for trickery etc and instead try and find the best set ups prior to breaching either .

The EU is very slow atm - and several other pairs are better to trade - I can understand you being mucked up buy it pre LO's

Question

Did 8 03 am or 8 04 am at 0931 / 32 price say scalp sell ??

 

[Forexmospherian]

8 15 am

Whilst I wait for Sun's thoughts on the EU - other Euro crosses - ie the EA and EJ - had better PS Bias for the London Open and maybe I can ask Sun in bit to show her 3 charts for the EU - EA and EJ

 

[sun11]

Did 8 03 am or 8 04 am at 0931 / 32 price say scalp sell ??

Yes I can see that, but if I traded that, then i would trade from 8 07 & closed at 932 for 3 point profit. Cause at 8 07 candle closes below all LRs. Faster one closes at 8 05. :?:

Now standing around the day low.

 

[Forexmospherian]

Yes I can see that, but if I traded that, then i would trade from 8 07 & closed at 932 for 3 point profit. Cause at 8 07 candle closes below all LRs. Faster one closes at 8 05. :?:

Now standing around the day low.

Interesting then

First point - your entries are far too late

I know I have not got you so far on a tick chart - but on that chart you would have entered 3 to 4 pips higher up from 8 03 40+ secs

On a 1 min 8 04/5 at either 31 or 30 - 28 or lower - far too late

Ok next point

Could you post your 3 set ups for the EU / EA / EJ from say 7 15 am UK time to now - ie 8 23 am ish ? please

Thank you - no rush or pressure - as I want to get this right etc

Regards


F

 

[sun11]

8 15 am

Whilst I wait for Sun's thoughts on the EU - other Euro crosses - ie the EA and EJ - had better PS Bias for the London Open and maybe I can ask Sun in bit to show her 3 charts for the EU - EA and EJ

Of course, here are my EU, EA & EJ chart.

 

[Forexmospherian]

EA

7 54am

Was not about to scalp sell after 6 51am but got in at 4969 at 7 00 am ish

This pair is more bearish than the EU this morning - but the test is the 4945/50 support area

Would need back over 4980 and 5000 to turn bullish and will stay with 100% of sell whilst under 62

EA

8 30 am Update

Guessed it would keep falling - I went to 30% sell stake at 62 after it tested 64 - and then added to sells at 55 - 40 and 30

Now its bounced just above 4900 and I am down to just 130% stake size after taking part stakes off on other entries

Best scalp of the morning so far



Will post a chart later - after I have seen Sun's set up on the EA

 

[sun11]

Interesting then

First point - your entries are far too late

I know I have not got you so far on a tick chart - but on that chart you would have entered 3 to 4 pips higher up from 8 03 40+ secs

On a 1 min 8 04/5 at either 31 or 30 - 28 or lower - far too late

Ok next point

Could you post your 3 set ups for the EU / EA / EJ from say 7 15 am UK time to now - ie 8 23 am ish ? please

Thank you - no rush or pressure - as I want to get this right etc

Regards


F

Yes I am late, posted already...now more with zooming in during the hour.

 

[sun11]

I thought i will not trade, but traded EA as it was attractive, So got 3 pips.
Entered from 8 20 out at 8 25.

 

[Forexmospherian]

Of course, here are my EU, EA & EJ chart.
View attachment 211560
View attachment 211562
View attachment 211564

Thanks Sun

Now going to study them and compare to mine

the clues for sells after 8 00 am and LO was more from the EA and EJ than EU

Will post my EA one next - but will come back after I have checked yours out

 

[Forexmospherian]

Yes I am late, posted already...now more with zooming in during the hour.

Sun

could you now post your EA chart from after midnight UK time and what colour is your longest LR ?

 

[sun11]

Sun

could you now post your EA chart from after midnight UK time and what colour is your longest LR ?

Sure this is EA chart from the midnight in the chart picture its the 2:00.
Longest LR is colour changing with Red or Green.

 

[Forexmospherian]

I thought i will not trade, but traded EA as it was attractive, So got 3 pips.
Entered from 8 20 out at 8 25.

Well Done Sun

3 pips or 30 pips - its does not matter atm - the main point is its a winning trade and you need them for your confidence etc - but from today - you will now start to see maybe what you have been doing wrong and all these next tips will help you start getting back to what I know you can do

 

[Forexmospherian]

EA

8 48am

Time rules on low and down to just 30% STAKE on sells now from 4921

 

[Forexmospherian]

EA - CHART comparisons

Hi Sun

Your chart below on EA

My chart

Its a shame - but longer LR's still not right

See my chart said sell and bear bias all the while

 

[sun11]

EA

8 48am

Time rules on low and down to just 30% STAKE on sells now from 4921

This trade failed..market moved more than 5 pips.

 

[Forexmospherian]

Just going to have a break for 15 mins Sun

My longest LR is 475 - yours in what 740 - and its still not long enough on setting - try say a 900

Can you see why I worry about different chart set ups - and especially MT4

Back in a bit - we will try and get your set up as close as possible to mine next

 

[Forexmospherian]

This trade failed..market moved more than 5 pips.

All depends where your entry is Sun

If you sold at say 60 or 50 or 40 or 30 and it went down to say 4903 area - then a 5 or 10 or 15 pip bounce still does not matter - as you sells are still in profit

 

[Forexmospherian]

EA

8 48am

Time rules on low and down to just 30% STAKE on sells now from 4921

Once we went over 30 mins from 4903 area low - then probability favoured buys

this would be about 4922 area and so far its tried 34

Back in a bit

 

[sun11]

Just going to have a break for 15 mins Sun

My longest LR is 475 - yours in what 740 - and its still not long enough on setting - try say a 900

Can you see why I worry about different chart set ups - and especially MT4

Back in a bit - we will try and get your set up as close as possible to mine next

Its a shame - but longer LR's still not right

See my chart said sell and bear bias all the while

Is in your chart, the longer LR is the green line?

I set it up at 900.


This one is with 850, it sync more with the green line.


Ok, see you after the break.

Regards