A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

EU

4 23 PM

Range now 0985 to 0955 - approx 30 pips - one will have to let go - but be careful in case false trap by just teasing 2 or 3 pips out of range etc - then reversing

GL

Will pop back now after 5 00 pm

Finished for day - just managing partial stakes left on - with all stops in profit anyway

 

[Forexmospherian]

6 45 am


EU - 0895 - 0960 ( yes large atm )

GU - 5245 - 5285

UJ - 120 45 - 121 00

UChf - 9920 - 9960

UCad - 3170 - 3226

AU - 7090 - 7140

EA - 5337 - 5413

EJ - 131 75 - 132 45

The LiTs Today

I rarely go a day when I get to cover more than 4 or 6 pairs with scalping and LiT's

In theory the idea is to look at using the LiTs area as a clue for "wrap" trades - ie trades to cover breakouts either side of the LiTs area ( Line in the Sand)

Its an area that could be looked as a "no man's land" - neither with bull bias or bear bias.

However as soon as price leaves the LiTs then the bias becomes more apparent for the session - so you then look for buys above both LiTS prices - or sells when price is below both

Some days price goes both ways and so your buy or sell might only make 15 -30 pips and then reverse.

Other days - maybe only 20 -30% of the time - you get just a one way main bias and direction from the Opens.

Today - its been the EA / GA / EJ and to a lesser extent the UJ and EU but their rallies had fairly large LiTs areas to overcome - ie over 40+ pips. Its easy if the LiTs area is tight and only 15 -25 pips range - but days when some pairs are over 50+ pips ( even 75+ on some big movers) then you do need 150 -200+ pip rallies to catch 50 to 100 pip moves.

Red news releases - especially early morning ones from 8 00 am to say 10 am on the Euro and Pound mean you should look at these pairs crosses - but then bear in mind if you get then US Dollar red news releases after 1 00 pm - it will effect leaving partial stakes on with stops in profits - all day.

Another reason to check the LiTs areas and red news releases planned for the day ideally before London Open - helps with the planning

 

[Forexmospherian]

Friday 30th October 2015 - Pre Opens

Good Morning Guys

Last day of another busy week

I keep reading elsewhere about so many FX traders saying markets extremely difficult and cannot find any nice trades etc etc

That's maybe because they are looking for the wrong trades - ie the "Hollywood" straight from the manuals on trading ie the 30 to 50 pip stops and the 120 to 200 pip targets . GL to then is all I say - and when will they wake up and realise an intraday day trade on a 5 pip stop and a 26 pip result is actually more profitable ( better RR ) and also so much more profit and time efficient ??

Efficency is important in trading - Ok we all wish we could make our daily targets in under 1 hr per day - and some days you can if you cherry pick your session times along with finding the right FX Pairs for the right time of the session.

Remember - please free to post your charts or calls - results - questions etc etc

Have a good one - stay focused and Good Luck

Regards


F

 

[Forexmospherian]

Even the EA and GA are slow this morning

First trade for me was 6 20 / 21 am EJ scalp buy at 132 76

So far last 12 mins it moved up 92 and still rising atm

 

[Forexmospherian]

LiT Areas for Friday AM session onwards

6 44 am



EU - 0945 - 0970

GU - 5297 - 5327

UJ - 120 75 - 121 23

UChf - 9880 - 9910

UCad - 3172 - 3148

AU - 7082 - 7110

EA - 5470 - 5510

EJ - 133 15 - 13265

 

[Forexmospherian]

Even the EA and GA are slow this morning

First trade for me was 6 20 / 21 am EJ scalp buy at 132 76

So far last 12 mins it moved up 92 and still rising atm

EJ

Topped at 133 00 exactly and I reversed at 94 and exited 77 - that was second scalp

Third scalp just 132 75 from 6 41 am - another scalp buy

 

[Forexmospherian]

UCad

6 49 am

Not a pair I normally scalp early pre Opens - but was watching after 6 20 and 6 30 am was a lovely scalp sell set up with the fall starting 6 32am

It stopped and bounced 19 pips lower and now under 58 - should be another scalp sell

 

[Forexmospherian]

EJ

6 52 AM

Its in a approx 40 pips scalp range - under 132 68 and 64 more scalp sells

Need back over 133 04 to take more scalp buys

 

[Forexmospherian]

EA

First nice set up from 6 39 am and 5456/7

scalp sell set up with majority of LRs over price - saying bear bias

So far its made 5426 and still falling - thats a 30 pip fall in approx 15 mins - perfect

 

[showtyne]

Morning F,

Happy T2W Birthday for yesterday.

Keep up the good work

 

[Forexmospherian]

Timed scalp set ups

Just for new followers still not understanding my set ups

Maybe this will help - ie the Key Times we look for set ups on pairs

 

[Forexmospherian]

Busy first hour

I have missed out so many scalp set ups after 6 21 am - ie 6 39 am on the EU was a 25 + pip scalp buy in under 10 mins - missed it totally

 

[Forexmospherian]

EU

7 00 am Update

Depending on the false play - above 0980 now the EU is bullish and we should be looking for more scalp buys

If price drops under 0970 - then forget it for now as would show market is changing for Opens

 

[Forexmospherian]

Review of first hour from 6 00 am to 7 00 am

I thought up to 6 15 -20 am this morning - it was slow - OK EA and GA a couple of scalp buys possible - but slow

From after 6 20 am to 7 00 am - 40 mins - extremely busy scalp opportunities on many pairs

I have mentioned EA / EJ / UCad / EU - also check out after 6 30 am a GU scalp buy set up another 30 + pipper - again like the EU - missed both

 

[Forexmospherian]

7 11 am

A bit of fortune telling now for traders looking for trades well in advance of when they happen

OK - EA

We have then support area 5400 to 5420 - we know we need under there for a large fall and to add to sells

The set up is bear bias

ATM - we are trying to pullback above 5425

I want to look at selling more - ideally under 55 or 45

I would need any interim low to hold over 30+ mins to forget the idea of new sell when we get the right scalp set up.

ie might we get a 5447 to 5420 drop ? - or a will 5420 and 25 be the barrier and in this hour we then look for a turn ?

What ever happens - I plan to be scalping the move

GL aand waatch next for more clues

 

[Forexmospherian]

EA

7 14 am

7 09 am was a scalp buy - will post chart later

Now ideally want to sell under 45 or 55

We need all the clues to line up - and yes take advantage of move up because if low hold over 30+ mins - we have a turn going on

 

[Forexmospherian]

7 16 am

EA - so far we have stopped at 5448/9

Now took a quick scalp sell from there

 

[Forexmospherian]

EU

7 20 AM

Still stalling around 0980 -82 area

I want to scalp buy from here - - check posts earlier

 

[Forexmospherian]

7 16 am

EA - so far we have stopped at 5448/9

Now took a quick scalp sell from there

#

EA

7 22 am

Cannot drop under 36 - so had too pull scalp sell for just 4 pips and 5440 was the scalp buy again

That low is now holding - nearly 30 mins now

 

[Forexmospherian]

EA

Next plan - can we scalp sell around 55 - for a test of 36 to 40 area ??

Too early to say atm