A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

EA - update for the Day

Latest updated chart

EA

Chart update at 7 00 pm ish

We stayed in the main range from after 9 30 am

The range was approx 70 pips - which was a bit boring after the 150 pip rise and 80 pip pullback all before approx 10 30am

 

[Forexmospherian]

Thursday 22nd October 2015 - Pre Opens

Good Morning Guys

Quite a few red news releases today - starting with the UK Pound at 9 30 am UK time

I have kept my TL's and S & R areas on my EA chart from yesterday - ( the messy chart) just to see if they play any part today - but would have to use a 2 or 3 min time frame to cover all - simply because my 1 min frame will not stretch that far back.

For new scalp entries - I would however always use the tick or 1 min time frame - but do not recommend using the tick chart until you are used to the 1 min and maybe already have a couple of thousand scalps behind you.

Normal stuff again today - but hope to cover more on scalping - to assist the followers who are getting irregular results - ie some days 80% + win ratios on say 15 -20+ scalps - and then other days - struggle to get even 50% win ratios - and of course 3 or 4 bad consecutive scalps can knock the mojo and therefore effect your future decision making etc etc.

All comments on FX pairs etc welcome - charts - ideas - calls etc etc

Have a good day and new LiTs to follow prior to the 7 00 am EO

Was not about to catch that 5 30 am scalp buy on the EA - - about 70 pips in 5 mins - as the AU dropped about 45 pips - but from just before 6 00 am the EU was a scalp sell

Good Trading


F

 

[Forexmospherian]

LiTs Area for Thursday Am session

6 40 am


EU - 1325 - 1355

GU - 5410 - 5452

UJ - 119 80 - 120 15

UChf - 9580 - 9605

UCad- 3090 - 3145

AU - 7200 - 7240

EA - 5750 - 5685

EJ - 136 10 - 135 80

 

[Forexmospherian]

EU

6 42 AM

Scalp sell after 6 00 am gave me only 4 pips net ( after spreads) and from 6 37 am - it became a scalp buy - but would need over 1344 to stay with it longer

 

[Forexmospherian]

EA - 2 Day Update on a 3 min chart

EA

6 52 am

Updated 3 min messy chart

Main points to show are the 2 support zones and the main R area

The EA is in a bullish bias - but if it cannot make above its R ( red area) it will just test supports

Back to a 1 min chart for the day next

 

[Forexmospherian]

Scalping the EU - Tips for new scalpers

EU

6 42 AM

Scalp sell after 6 00 am gave me only 4 pips net ( after spreads) and from 6 37 am - it became a scalp buy - but would need over 1344 to stay with it longer

EU

7 02 am

In the last hour i have taken 3 scalps on the EU

On my chart - I look for a level and a 2 quick LR cross that fits in with the bias of the Pair - ie based on the LiTs for session - not the monthly / weekly / daily etc - as not really bothered about them for scalping

Heres the chart - and then I will take you through the 3 scalps

You can see the thick red longest LR saying bias under it should be bearish - I appreciate new scalpers dont have all the LRs to assist them - but basically it then down to reading PA on the 1 min chart along with levels

I have marked the 3 quick LR crosses - as they are a main clue

Notice - all 3 are not at exact KEY Times = It helps if they are in the TW's but they dont have to be exactly at a KT

If they happen exact on a KT - even better

Then I depend on the other LR's to be going over price for scalp sells - and under for scalp buys

Next clues after PA/ Time /LRs - is the levels - do they correspond with S & R interim levels ??

Also I am looking for strength and speed of move as another clue and of course reading PA on the 1 min for LH's and LLs - or vice versa etc

Hope this helps for a start and will post on Suns thread as well

The 3 scalps made in total 22 pips - although I only got 14 pips of them - as late on 2 entries

Stops are all tight - I would not have needed more than 3 pips for every entry

 

[Forexmospherian]

7 11 am

i am out today at 7 45 am for approx 45 mins

Will miss the LO - but back well before the 9 30 am Pound news - so will be checking out the Pound later

 

[liver1234]

Morning

 

[Forexmospherian]

7 25 am

EA

First scalp after 7 09 am


It woke up and moved up from a support area at 5732

We would need to see over 5760 to stay with scalp buys - otherwise - take what you can

So far it cannot get over 50 and 7 24 pm is seeing a pullback.

I would not scalp it for just 3 - 5 pips - most EA scalps should easily make 10 + pips - with the good ones 25 -50 pips all within 15 -30 mins

 

[Forexmospherian]

Morning

Morning Liver

Have a good day

Regards


F

 

[Forexmospherian]

7 25 am

EA

First scalp after 7 09 am


It woke up and moved up from a support area at 5732

We would need to see over 5760 to stay with scalp buys - otherwise - take what you can

So far it cannot get over 50 and 7 24 pm is seeing a pullback.

I would not scalp it for just 3 - 5 pips - most EA scalps should easily make 10 + pips - with the good ones 25 -50 pips all within 15 -30 mins

EA

7 30 am

7 24 am looks as though it was a good scalp

I took it late at 5742 - 5745/8 - better entries

So far it 5 mins - 15 pips

 

[Forexmospherian]

EA

7 30 am

7 24 am looks as though it was a good scalp

I took it late at 5742 - 5745/8 - better entries

So far in 5 mins - 15 pips

7 40 am

EA

A 40 pip drop from 7 24 am

So 16 mins - although so far I have only got 33 pips

Getting ready to pop out

see you after 8 30 am

Stay Focused

 

[NVP]

morning all............my scalping session is over now as I prepare for work

I have been looking to sell usd off a weak Asian session (See chart).........some ok buys on GBP , CAD and AUD in last hour or so ............

more strategically the week so far sees a massive Bear CAD.........nothing comes close by some 200 pips .........so clearly that's the play into weekend as it will not stay still I suspect.....continuation or more probably some profit taking on trades..so watch for a bull CAD today / tomorrow

todays Asian got the NZD up by some 50 pips and holding well.......Euro is the Dog (again ?)...

if I were still scalping I am deff on selling usd and Euro ..........AUD , CAD and GBP are the buys London so far..and of course the NZD if you like that dude ......I prefer the more predictable AUD

good trading ........
N

 

[NVP]

7 40 am

EA

A 40 pip drop from 7 24 am

So 16 mins - although so far I have only got 33 pips

Getting ready to pop out

see you after 8 30 am

Stay Focused

heres the issue with the EA today ..........both bear currencies ..so be careful :smart:

N

 

[FXWorx]

Morning Guys

 

[NickBk]

7 25 am

EA

First scalp after 7 09 am


It woke up and moved up from a support area at 5732

We would need to see over 5760 to stay with scalp buys - otherwise - take what you can

So far it cannot get over 50 and 7 24 pm is seeing a pullback.

I would not scalp it for just 3 - 5 pips - most EA scalps should easily make 10 + pips - with the good ones 25 -50 pips all within 15 -30 mins

The longer lr's providing excellent s/r for scalps on EA today.

Missed the biggest move when you were asleep as I went for a coffee lol.

Had a stubborn moment when I thought I was King Canute yesterday but as the water lapped past my ankles I realised it was not necessary and cold and wet.

 

[Forexmospherian]

Morning Guys

Morning FXW and all

Back now for nearly 90 mins

After 9 00 am will be focusing more on GU and also today the GJ and GA for 9 30 am news

Will update in a bit

 

[Forexmospherian]

heres the issue with the EA today ..........both bear currencies ..so be careful :smart:

N

Morning N

Yes with their being UK Pound news this morning - going to look at the GJ and GA as well this morning - more beasts

God knows why the EA moves so well i noticed why have been out after 8 09am a 60 pip drop in under 20 mins

That pair seems to have a mind of its own - but when the PA is so nice and all lines up its just so tradeable - and lovely ;-)

 

[Forexmospherian]

The longer lr's providing excellent s/r for scalps on EA today.

Missed the biggest move when you were asleep as I went for a coffee lol.

Had a stubborn moment when I thought I was King Canute yesterday but as the water lapped past my ankles I realised it was not necessary and cold and wet.

Morning Nick

Hope you caught the EA after 8 09 am UK time

Will post my chart - as you say quick and med LRs did it justice on that fall

 

[Forexmospherian]

What I missed when away from desk - EA

EA

1 MIN LR Chart

After 8 09 am - lovely fall started

60 pips in approx 20 mins - and not here to get 1 pip - ;-((