A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

9 13 am

I have got to admit - I still do take scalps on the EU - why - i dont know - but i have been so used to scalping it over last 8 -10 yrs

Last scalp buy at crossover at 9 03 am at 0759 / 60 area

we stall at 65/66 - but for me still above 58 / 60 is a scalp bull bias

I had said 60 prior but maybe 58 could be crucial and i woould need under 57 and 53 to take more scalp sells

EU

9 26 AM

its made 0775 so far

Here's my chart why I favoured scalp buys above 0758 / 60 - yes LR's bias atm

 

[Forexmospherian]

GA

9 29 am

1350 and 55 are now crucial price levels for GA

To remain am session bull bias we need to stay above 1350

and its testing 53 atm

 

[Forexmospherian]

EU

9 31 am

9 27 am said sell EU under 74

Still in bull bias - would need under 57 to stay with scalp sell

Back over 76 and 80 take more scalp buys

 

[Forexmospherian]

9 41 am

Off out on dog walk before 10 00 am and back then later

Noticing Euro crosses still looking a bit bullish for this AM session - but Pound crosses - not so

GU nice sell after 9 00 am - over 25 pips - and GA more bearish than EA - but although 1350 did not hold it 1347 as for time being

Typical GA - the scalp buy at 9 38 / 39 am as already jumped up 15 pips in 4 mins

 

[Forexmospherian]

The GA should be another scalp sell under 77 - 80

If it made over 88 and 93 - then thats means a turn higher is on

Ok see you later guys

Stay focused on time and levels and GL


F

 

[NickBk]

Glad I added GA this morning, makes EA look dull today ))

 

[Oscar Reed]

Manged 30 min from 3 hour period.

 

[Forexmospherian]

LR'S Rule ;-) ( and Time ;-) )

EU
9 26 AM

its made 0775 so far

Here's my chart why I favoured scalp buys above 0758 / 60 - yes LR's bias atm

EU

10 39 / 40 am The scalp sell

 

[Forexmospherian]

11 06 AM

Back after Midday now and will then update

Remember 0758 to 65/70 is all supports on EU - so to stay with sells - need under 57 and 53 etc


GL

 

[Forexmospherian]

EU

UPdate for 12 30 pm UK

Above 0740/50 - the EU is in a bullish price structure for the session

So far its topped at the 0790 area - so range maybe 50 pips

Over 0800 and 0805 we would take more scalp buys

Under 0750 and 40 then we would be dropping out of bull PS and so we would look more for sell

From say 55 to 80 area - its just scalping - and really there are then other pairs we can scalp that might make us more pips and net monies

 

[Forexmospherian]

12 37 pm

LiTs Areas

With me not being around every morning this week - i would like to assist all the early starters to actually try and calculate their own LiTs

Ideally - you need it pre 7 00 am UK time - as the 2 Opens then will either carry on with moves - or do an opposite turn etc and might then stay with same bias for another 2 hrs - or even all day

OK so over next hour more LiTs info - based on Friday and today

 

[Forexmospherian]

6 44am

Friday LiTs

LiTs areas


EU - 0905 - 0885

GU - 5210 - 5245

UJ - 9935 - 9968

UChf- 121 55 - 121 78

UCad- 3140 - 3180

AU - 7120 - 7150

EJ - 132 25 - 132 65

EA - 5200 - 5260

6 46 am


LiTs areas

Monday / Today's LiTS


EU - 0715 - 0757

GU - 5020 - 5060

UJ - 122 95 - 123 33

UChf - 0060 - 0025

UCad 3310 - 3278

AU - 7015 - 7045

EJ - 132 15 - 132 50

EA - 5200 - 5240

GA - 1320 - 1400

OK - going to pick out some Pairs from Friday and Today - showing the pairs were the LiTs worked the best

I had thought on Friday with NFP - the LiTs would not be that good - but wrong - some pairs had great moves outside their respective LiTs - ie Above both prices for more buys and bull bias - and opposite on below both prices

Lets pick a few out next - both good pairs and bad examples

 

[Forexmospherian]

LiTs ( Line in the sand on Session Bias )

EU

On Friday - the EU Lits was 0905 to 0885 - approx a 20 pip area. That was narrow as some LiTS on larger movers are anything from 40 to 70+ pips

If you look back - we never went above 0905 and dropped under 0885 before the opens - and then stayed under this Price

At the NFP announcement price was at 0870 are beforehand and so the bias suggested lower

No larger spikes and EU then fell to 0705 - so a 180 pips fall from under both LiTs prices

A great example of the LiTs not being breached and giving a large move

This morning the EU LiTs is 0715 to 0757 - so a 40 pip area - larger than Friday's

WHY ?

Well Fridays bias was bearish all day and had been from the start of November when we never made back over 1050+

Today is different

I can only sell the EU off more really under 0750 - 40 - 0715 and 0700

Above 0715 and 40 - we might never go lower this week ?

If you check your 1 min LR charts - its shows how the 3 longer LRs track bias so well

i will show you via some charts next

 

[davetherave65]

LITS input needed

Hi F
Cannot really join in much this week due to work etc.
Appreciate more input on LITS as I for one still nor sure how your two levels are worked out completely
I know you use 3 slow LR s but which values and how do you relate those to where you place your high and low LITS values
I need to know this LITS level work to be able to trade bias accurately as we all students of SSS method do.
As you say some charts would help a lot I think indicating the two levels and what exactly determined the two levels on your charts.

Thanks again for your efforts

Dave.

 

[Forexmospherian]

EU - Today's LiTs and R now at 0790 - 0805

EU

If you go back early on I bought the EU above 1060 and said i thought it was bullish for AM session

This is why - ie chart with LiTs area marked.

OK it only saw a 30 pip rise

But we were then able to get a 20 pip scalp sell - and then another scalp buy for 15 pips - before the latest sell under 0790 and 0785 for 20+ pips so far

So really the LiTs helped me as a scalper with bias and directions - ie its only moved up 30 pips from Opens - but a good scalper will easily have over 60 pips off the EU so far

 

[Forexmospherian]

Hi F
Cannot really join in much this week due to work etc.
Appreciate more input on LITS as I for one still nor sure how your two levels are worked out completely
I know you use 3 slow LR s but which values and how do you relate those to where you place your high and low LITS values
I need to know this LITS level work to be able to trade bias accurately as we all students of SSS method do.
As you say some charts would help a lot I think indicating the two levels and what exactly determined the two levels on your charts.

Thanks again for your efforts

Dave.

Hi Dave

You seem to be like me this week - I too cannot cover every morning this week and might only be doing a couple of hrs a day or the forum - even though i will be trading more than that

Agree with you the LiTs is so important

Over the course of today and this week - hopefully I will have explained it more and I am hoping Sun or any student of the method might post their versions etc

It will not matter if its wrong for a start - its all part of the learning process

All the best


Regards


F

 

[Forexmospherian]

To calculate the Lits for the Am session - ie from 7 00 am onwards to say Midday or 2 pm

we need to work it out before 7 00 am

Its based on last 4 to 12+ hrs of movements and not just on static pivots - but on dynamic S & R levels as well as the previous day's low or high etc

The crossovers of the 3 longer Lrs help to form it - just like the 2 or 3 quick Lrs on a scalp

its then working out how far price needs to move to achieve a B/O worth ideally over 25 pips - and as on Friday worth over 150 pips on many pairs

 

[Forexmospherian]

1 43pm

Euro crosses

its notable how the euro weakened after 1 09 - 1 21 - 1 30 pm on the EU / EJ / EA

Check out all 3 pairs - all had great scalps

the easiest for me was the EU as in the sells after 12 30 pm anyway

 

[Forexmospherian]

EU

If you go back early on I bought the EU above 1060 and said i thought it was bullish for AM session

This is why - ie chart with LiTs area marked.

OK it only saw a 30 pip rise

But we were then able to get a 20 pip scalp sell - and then another scalp buy for 15 pips - before the latest sell under 0790 and 0785 for 20+ pips so far

So really the LiTs helped me as a scalper with bias and directions - ie its only moved up 30 pips from Opens - but a good scalper will easily have over 60 pips off the EU so far

EU

Chart now at 1 47 pm

Notice R stopped it and the 20 pip scalp sell became 40 pips

 

[Forexmospherian]

GA ( Gbp / Aud )

2 00 pm update

Away from desk next hr - got to pop to my local Bank ( not planning to rob it lol)

For me GA as been nice for the method today - I think Sun might agree this morning

so far we made over 40 pips on a scalp buy on a 60 pip rise after 6 30 am

Then we made 30 pips on a scalp sell

Since then its made a HL after 10 00 am and although PA not so nice as earlier - on partials another 50 + pip rise and now a New HH at 1406

Pullbacks staying above 1387 are scalp buys again

GL

See you later


F