Intraday Live short term trading calls from an Expert Retail Forex Trader

[Forexmospherian]

EU

2 29 pm

Any pullbacks have to stay above 28/ 30 now for another attempt above 39 / 40 now

 

[Forexmospherian]

Got the feeling it could be boring up to 3 00 pm news

Hope I am wrong

 

[Forexmospherian]

News in 12 mins

If dollar strong expect more falls on EU / GU / AU etc etc

if dollar news weak or bad - then expect swissy and UCad to fall with others trying higher again

News forecast say normal average expectation - hardly any help

 

[Forexmospherian]

3 00 pm - red US Dollar news - dollar weak - EU rises

 

[Forexmospherian]

EU

3 02 pm

Maybe new range 1037 to 1060 or 70 next

We need to stay above 35 and 40 on pullbacks for more scalp buys

GU also bullish and rises above 5600 etc

 

[Forexmospherian]

As expected with Europeans rising - UCad and UChf etc falling

Thats good for me on UCad as under its LitS area

 

[Forexmospherian]

So far EU made 1064 ish area and GU only 5615 - disappointing

Will pop back in after 3 30 pm and every 30 mins or so

Glad this morning was busy - US early session fairly naff for now

 

[Forexmospherian]

Looks like interim highs and lows might hold over 30 mins from painting - more ranging then

 

[Forexmospherian]

Back now maybe after 4 30 / 5 00 pm

Not scalping tight ranges for now

If you are GL

See you later

F

 

[Forexmospherian]

Back now maybe after 4 30 / 5 00 pm

Not scalping tight ranges for now

If you are GL

See you later

F

If the EU now stays under 50 on any pullbacks and tests lower than you need under 25 and 20 and 17 to hold or take more sells

GL

 

[Forexmospherian]

4 45 pm

Updates

Come back to have a look at whats going on and to see if we are out of ranges at all

EU

Its been manipulated to either side of the key prices - so not too give too many clues away but whilst getting many traders to take new trades that might not work out - subtle false sentiment

its easy over 53 and 60 + ie more buys

Its easy under 27 - 25 -20 -17 - more sells - but in between its a Bermuda Triangle as far as I am concerned

 

[Forexmospherian]

GU

4 48PM

a bit better than EU - more clues and better movements - ie after 4 00 and 4 30 pm its both been scalp buys

We need a new high and 5625 & 30 to hold on and stay with buys now - otherwise - will slip back into range again

 

[Forexmospherian]

GU

4 48PM

a bit better than EU - more clues and better movements - ie after 4 00 and 4 30 pm its both been scalp buys

We need a new high and 5625 & 30 to hold on and stay with buys now - otherwise - will slip back into range again

GU

5 13 pm

Approx 25 mins from last comment

Price now at 5624 - we need to stay above 5612/3 on pullbacks for another attempt over 25 and 30 next

Meanwhile down to 30% buy stake again and will leave on with stop in profit at 5609

 

[Forexmospherian]

As expected with Europeans rising - UCad and UChf etc falling

Thats good for me on UCad as under its LitS area

Comment from 2 hrs ago#

Ucad now dropped over 80 pips down from its LitS and I have bagged nearly 45 pips of the afternoon drop

 

[Geofract]

Hello F,

I hope you're having a good day!

A question, when you have a spare minute. GU, 16.03, at 1.5580 ish - just wondering if that was a Buy setup for you?

I had all the levels marked on my other charts, so the level made sense, but I was curious to know if once the 16.02 bar breaks above the two slower LR's we're good to go?

This is an M1 chart btw, with 9,13,22,50 LR's.



As I had mentioned a few posts ago, I was planning on doing more with M5 123's for a while - but not sure just yet If I can live with it - so I am trying to look at the finer points of your style.

Part of the problem with a 123 is it's always a late entry. But more problematic is that often, very often price will retrace back to, or beyond the entry point, putting you under water. These are obvious points, and I have a long history with 123's and have lived with those issues before now, but not sure I can live with them anymore - it doesn't feel right - a change of mind set for me I suspect.

Can't say I am necessarily ready for the finer points of your style either, but would like to dabble.

Any advice appreciated.

Cheers,

G

 

[Forexmospherian]

Hello F,

I hope you're having a good day!

A question, when you have a spare minute. GU, 16.03, at 1.5580 ish - just wondering if that was a Buy setup for you?

I had all the levels marked on my other charts, so the level made sense, but I was curious to know if once the 16.02 bar breaks above the two slower LR's we're good to go?

This is an M1 chart btw, with 9,13,22,50 LR's.

View attachment 195100

As I had mentioned a few posts ago, I was planning on doing more with M5 123's for a while - but not sure just yet If I can live with it - so I am trying to look at the finer points of your style.

Part of the problem with a 123 is it's always a late entry. But more problematic is that often, very often price will retrace back to, or beyond the entry point, putting you under water. These are obvious points, and I have a long history with 123's and have lived with those issues before now, but not sure I can live with them anymore - it doesn't feel right - a change of mind set for me I suspect.

Can't say I am necessarily ready for the finer points of your style either, but would like to dabble.

Any advice appreciated.

Cheers,

G

Hi G

YES - correct after 4 00 - 4 02 pm UK time was a buy - see my chart and then after 5 21 pm was a sell

I need ideally 3 LRs under or over at a KT in a Time window - give or take a minute or two along with a interim S & R level

I appreciate you worried about confirmation

With scalping - entries are critical - get them right and even if the trade fails you can get out with 1 or 2 pips of profit etc

Its just getting used to something that is not normal for you - after another few weeks or months you will take it for granted and believe in KT's and lows and high reversal trades etc - they happen every day - day in day out ;-)

Hope that helps and was you also happy with 5 21 pm sell set up ??

Try to take trades like these with 3 -5 pip stops - you know if you are wrong by then ;-)


Regards


F

ps - Yes another good profitable day - morning and afternoon

 

[Jon Salgerier]

First day for real

Good evening!

So today I have been lurking around here watching, trying to follow and understand and after the day made it to breakeven which of course I shouldn't be bragging about here but I am trying to take it in small steps, so I am more or less happy (some good decisions were erased by a number of more trigger happy ones) .
Anyway I did manage to spot one entry in GU that I think you confirmed F, at 1.51pm (your time) a buy at 5574, and it made a neat 7 pips.
However I quite obviously jumped off that train too early so I just wanted to ask a quickie about when to get out. Judging by the LRs 2.07pm could have been an exit, but in retrospect it wasn't the best but still a lot better than what I managed.
Price went past a number of R:s and I decided to exit at the first.
So what would be more important once on the train? LRs, or S&Rs? or something else?

And of course no rush with the answer so whenever you have time...
Many thanks so far for all the information shared with us!

(Not sure if I managed to attach a chart, but if so red vertical line is at 1:51pm and it is a 1 minute chart of GU)

Regards
Jon

 

[Forexmospherian]

Good evening!


Anyway I did manage to spot one entry in GU that I think you confirmed F, at 1.51pm (your time) a buy at 5574, and it made a neat 7 pips.
However I quite obviously jumped off that train too early so I just wanted to ask a quickie about when to get out.

(Not sure if I managed to attach a chart, but if so red vertical line is at 1:51pm and it is a 1 minute chart of GU)

Regards
Jon

Evening Jon

I normally check my charts and thread before hitting the sack - so no problem answering tonight.

Good to hear from you and WD - spotting the 1 51 pm UK time buy on the GU at around 5575 /6

A very good question and always a difficult one to answer as there is not just one answer that fits all etc

That particular 1 51 pm scalp buy set up was worth anything between what 7 and 50 + pips - all depending on the time you had available and how you decided to manage it

If you notice - from then on and the rest of the day - we never went under 5575.

That would be key as that price could be looked upon as a HL in a bull bias PS through out most of the session after the 9 30 am UK Pound News.

For me - I try and get around the problem of when I exit by treating my entries as the most important part of my whole trading equation.

That price might just work today - but for all we know - it might never be breached with price going lower for the next day - or week or month - or even year and we might see price up at 6300 later on this year - could happen - and you have a trade still on with 600 + pips ;-)

So - once you are feeling a bit more comfortable with the methodology - why not then look at the PPND strategy - ie pyramid and peel but never dump .

To do this instead of say just entering with 1 lot or $10 a pip - enter for example 3 times within a minute with a $3 then a $4 and then a $3 - still $10 a pip - but you can then scale out or peel as price pulls back rather than exit completely. So you might have taken $7 off at 10 pips and stayed with just $3 and then added another $4 as it moved up to 11 pips and then taken more off at 18 pips etc etc and then by 5 21pm decided to come out all together - with well over 50 pips at different stake sizes etc

Always try and get your stops into profit - even just 1 to 3 pips for a start - that gets rid of worry etc and you can relax then knowing what ever happens - you will either come out with just say 2 pips of profit - or 20 or 200 or even 600+ pips a few weeks later on.

Personally - I try and get pips in my kitty early and take off with any profits over 5 pips - but then when I am up say 20+ pips after a few scalps - I relax and try and get as many trades on as possible with stops in profit and hope 30% of them go on in my direction making me more pips and profits.

Also the multi LRs help as the more under the more likely price will carry on up - even if you get 5 and 10 pip pullbacks

Study your LRs over the next few days and you will read and understand them more and they will assist you staying in the scalps etc

The only thing not to do is stay in moves going 5 or 10 pips against your entry .Get out of them asap ;-)

All the best this week and Good Luck

Hope to see you about tomorrow and feel free to ask any questions etc

Regards


F

 

[Forexmospherian]

Wednesday 29th July 2015 - Pre Opens

Good Morning Guys

Half way through the week and today is one of those days when the main red news is approx 13 hrs away at 7 00 pm UK time

Maybe the market will pace itself differently - i am sure we will get some Open moves etc - but then it might end up being slow and boring most of the day - I hope not - but for me i will be pacing myself and maybe looking at taking some trades after the FOMC news for another hour or so

Otherwise - normal stuff - cherry picking intraday trades on up to 6 + Fx Pairs

All FX contributions are welcome - calls - charts - forecasts - methods - etc etc - the more the merrier

6 00 am was my first buy scalp on the GU and my first 5 pips in the kitty.

Have a great day


Regards


F

 

[Jon Salgerier]

Good morning!

Excellent! Many thanks for a very complete answer! I will go through it thoroughly after the day. In the meantime I will be here in the shadows :innocent:
Again thank you very much!!

Best regards
Jon

Evening Jon

I normally check my charts and thread before hitting the sack - so no problem answering tonight.

Good to hear from you and WD - spotting the 1 51 pm UK time buy on the GU at around 5575 /6

A very good question and always a difficult one to answer as there is not just one answer that fits all etc

That particular 1 51 pm scalp buy set up was worth anything between what 7 and 50 + pips - all depending on the time you had available and how you decided to manage it

If you notice - from then on and the rest of the day - we never went under 5575.

That would be key as that price could be looked upon as a HL in a bull bias PS through out most of the session after the 9 30 am UK Pound News.

For me - I try and get around the problem of when I exit by treating my entries as the most important part of my whole trading equation.

That price might just work today - but for all we know - it might never be breached with price going lower for the next day - or week or month - or even year and we might see price up at 6300 later on this year - could happen - and you have a trade still on with 600 + pips ;-)

So - once you are feeling a bit more comfortable with the methodology - why not then look at the PPND strategy - ie pyramid and peel but never dump .

To do this instead of say just entering with 1 lot or $10 a pip - enter for example 3 times within a minute with a $3 then a $4 and then a $3 - still $10 a pip - but you can then scale out or peel as price pulls back rather than exit completely. So you might have taken $7 off at 10 pips and stayed with just $3 and then added another $4 as it moved up to 11 pips and then taken more off at 18 pips etc etc and then by 5 21pm decided to come out all together - with well over 50 pips at different stake sizes etc

Always try and get your stops into profit - even just 1 to 3 pips for a start - that gets rid of worry etc and you can relax then knowing what ever happens - you will either come out with just say 2 pips of profit - or 20 or 200 or even 600+ pips a few weeks later on.

Personally - I try and get pips in my kitty early and take off with any profits over 5 pips - but then when I am up say 20+ pips after a few scalps - I relax and try and get as many trades on as possible with stops in profit and hope 30% of them go on in my direction making me more pips and profits.

Also the multi LRs help as the more under the more likely price will carry on up - even if you get 5 and 10 pip pullbacks

Study your LRs over the next few days and you will read and understand them more and they will assist you staying in the scalps etc

The only thing not to do is stay in moves going 5 or 10 pips against your entry .Get out of them asap ;-)

All the best this week and Good Luck

Hope to see you about tomorrow and feel free to ask any questions etc

Regards


F