A Master Class in FX Intraday Trading by F & Co

[Shacau]

218pips 15min candle on euraud wow

 

[sun11]

Press buy, sit on hands and weeks work done in 30 minutes

Morning Nick,

Agreed..
290+ pips...movement. I hope F is taking this trade.

But got only 29 pips net. I had some bad losses with it. But recovered 50 pips that's something.

How much you made?

 

[NickBk]

Morning Nick,

Agreed..
290+ pips...movement. I hope F is taking this trade.

But got only 29 pips net. I had some bad losses with it. But recovered 50 pips that's something.

How much you made?

In Pips

280 give or take, I had a few lots and sold a couple early but rode the rest till the end.

 

[sun11]

In Pips

280 give or take, I had a few lots and sold a couple early but rode the rest till the end.

wow! Awesome..

 

[NickBk]

wow! Awesome..

Just sitting on my hands was the hard part, usual entry and boom!

I am sure F could tell you my entry too.

 

[Forexmospherian]

Just sitting on my hands was the hard part, usual entry and boom!

I am sure F could tell you my entry too.

Hi Nick and guys

Guess I missed out big time over the London Open hour today - was not here to take the big movers and then only back for 25 mins after 9 15 am before I at to pop out again - shame - so I am anything from 100 to 250 pips behind everyone else - maybe 300+ pips behind Major M this morning if had had also been on the EA and GA etc

Back for a bit now and caught a nice scalp sell on EA after 10 21 am and 10 30 am - another 50+ pipper

With regards to the EA move

Here's two views of the start of the move up just before LO and 8 00 am

The view from the 1 min LR chart

Here's the tick chart view in stages and after 30+ min rule kicked in

With regards to entries - anything from 5870 to 5900 entries would be excellent after 5915 and 20 still OK - and even as late as 5945 - would still bag you near 300 pips in under what 45 mins or so

And I was not here - ;-(((

 

[Forexmospherian]

EA - A scalp I caught after missing the LO Fun

EA

11 00 am Update

That scalp sell from after 10 21 am and 10 30 am and a nice 50+ pip drop in under 20 mins or so

Caught it off the tick chart

Notice the PA on tick chart with after a High - and a interim low then a LH and LL - all within 9 -10 mins

 

[Forexmospherian]

11 00 am was also the latest scalp buy on the EA from 6056

4 mins later and already up approx 40 pips

It's mad - but it great for scalpers using a tick or 1 min

 

[Forexmospherian]

We need to see over 6010 and 15 to stay with any scalp buys on EA now

 

[Forexmospherian]

EU

11 20 am

Its made another new high this morning at approx 1354/55

Remember yesterday we went down to 1060 area to stop out bulls buying over 1240 and 1260 after previous 1338 high

Then after we got all the bears in and selling under 1200 and say 1220 - what does the market do - fry them as well by going back up 150 pips or so

I wonder how many retail FX traders with stake sizes of say 5 to 20 lots per pip have stops over 100 pips ??

Yes maybe loads on $1 or even $3 - but then even if they win 200 pips - its hardly a great cash result - OK part time and as a hobby - but if you are serious then you hope you can get over $5 or $10 a pip so that you can grow your account and make decent money as well

Back to EU - ideally we need now back over 1330 and 40 to start scalp buying more for a try over 1360+

Under 1300 and 1280 favours bear land again - so lets see what we see next and dont forget 1 30 pm US dollar news

 

[Forexmospherian]

We need to see over 6110 and 15 to stay with any scalp buys on EA now

EA

11 30 am Update

We topped with last scalp buys at 6108/9 and back under 6100 it went scalp sells again

Now testing 6040 low area atm

Still busy at normally a slower period

 

[sun11]

Looking at the EJ chart. What a spike in last 16 minutes ago. Missed it.

 

[sun11]

Looking at the EJ chart. What a spike in last 16 minutes ago. Missed it.

Ok, lost 15 pips with it, but just earned 19 pips back.
Good day all.

 

[Forexmospherian]

Ok, lost 15 pips with it, but just earned 19 pips back.
Good day all.

Hi Sun

Back for only 30 mins or so atm

Yes its been a volatile day - and very well done coming out of it with positive pips in total ( just seen on your thread )

Unless you are purely scalping - and maybe on a tick chart to stay with only 5 pip stops requires extra accurate entries - ie catching interim highs and lows with 2 to 5 pips of when the turn and then if you catch a run and it moves 12 or 18 pips withiin a few minutes your way you then dont mind the 5 -7 pip pullbacks as you are always in profit

The EA as been manic = 30 and 50 pip moves within 7 and 10 mins etc and if your were not careful it you could see you gains disappear within the next 10 mins

More news on US dollar at 3 00 pm - hope to be around for it

Noticed EU made another new high near 1370 area and now dropped nearly 50 pips - thats big moves on the EU

Sorry I have not been around much this morning - an I missed all the London Open hr which was frustrating with regards to the EA

Might not be able to make more than a couple of hrs again tomorrow morning - but I think you have progressed well this last week - and picking up more tips every day that focus you on making profit etc

Best Regards - and pat yourself on the back

Peter

 

[Forexmospherian]

EU

1 51 pm

1300 to 1315 is not an important support area again for EU

I want to buy again - but if we drop under 1300 and 1290 etc - maybe its not going to be on

 

[Forexmospherian]

Any scalp buy that might line up in this TW needs over 1335 to stay with it

Just 5 -15 pip retrace bounces will not be good enough to make the turn etc

 

[keen246]

EA

11 30 am Update

We topped with last scalp buys at 6108/9 and back under 6100 it went scalp sells again

Now testing 6040 low area atm

Still busy at normally a slower period

Hi F,

Quick question here....what takes priority bias wise...the time rule or the price structure? Say we have clear Bearish structure but the last swing low has not been taken down in some 50 minutes. What should be the our bias in such case?

Cheers,
K

 

[Forexmospherian]

Hi F,

Quick question here....what takes priority bias wise...the time rule or the price structure? Say we have clear Bearish structure but the last swing low has not been taken down in some 50 minutes. What should be the our bias in such case?

Cheers,
K

Hi K

Good question and a difficult one

Price structure for me on a 1min chart takes priority - but remember if say we are 30 - 60 pips above the Lits area and we stall and dont breach the high for over 30 mins then favours pullbacks - which might take price back to the Lit's again

Many time around the 2 Morning Opens in European session - we get a positive bull bias showing and then with an hour - its all changed and reversed

Also my tick and 1 min price always come first and for me takes priority over a 15 min or 30 or 60 min chart - simple because turns start on a tick chart within the detail and so they then only relay to other charts 1 to 5 mins later etc

Example now

EU been a nice sell under 1360 area and carried on falling up to last 8 mins

Its stopped at 1312/13 and turned up over 20 pips within 8 mins

On any chart over 10 mins - you just could not take that scalp - as you would need confirmation etc

Confirmation on a tick chart can be from 0 5 of pip to 2 pips - and on a1 min -1 to 3pips and so a 10 -20 pip move is easy caught then

Hope that helps

Out for 30 + mins now


Regards


F

 

[Forexmospherian]

Another Live Call in advance On EU

EU

1 51 pm

1300 to 1315 is now an important support area again for EU

I want to buy again - but if we drop under 1300 and 1290 etc - maybe its not going to be on

Any scalp buy that might line up in this TW needs over 1335 to stay with it

Just 5 -15 pip retrace bounces will not be good enough to make the turn etc

EU

2 30 pm

Been back last 10 mins and so far EU as made 1357 off that scalp buy after 1312/13 area in the 2 00 pm TW

My first comment was at the key time of 1 51 pm and my tick chart had seen a small bounce starting

We then made over 1335 by 2 00 pm ish and I left a partial stake on with stop in profit at approx 18

No way would a normal intraday or day trader catch that turn under maybe 1330 area or even they might wait until they saw over 35 before they bought - needing a 20 -25 pips stop

Ideally we try and buy again now over 33 on pullbacks - but becareful with a LH now at 60 is this a false set up ??

 

[keen246]

Hi K

Good question and a difficult one

Price structure for me on a 1min chart takes priority - but remember if say we are 30 - 60 pips above the Lits area and we stall and dont breach the high for over 30 mins then favours pullbacks - which might take price back to the Lit's again

Many time around the 2 Morning Opens in European session - we get a positive bull bias showing and then with an hour - its all changed and reversed

Also my tick and 1 min price always come first and for me takes priority over a 15 min or 30 or 60 min chart - simple because turns start on a tick chart within the detail and so they then only relay to other charts 1 to 5 mins later etc

Example now

EU been a nice sell under 1360 area and carried on falling up to last 8 mins

Its stopped at 1312/13 and turned up over 20 pips within 8 mins

On any chart over 10 mins - you just could not take that scalp - as you would need confirmation etc

Confirmation on a tick chart can be from 0 5 of pip to 2 pips - and on a1 min -1 to 3pips and so a 10 -20 pip move is easy caught then

Hope that helps

Out for 30 + mins now


Regards


F

Thanks F for your reply. I find the time rule very interesting.
The confirmation on a tick chart of 0.5-2 pips you talk about is basically observing HH-HLs in a possible up move (opposite for down moves), or what other clue you can observe on the tick chart? I find it hard to follow the tick chart and get clues as to next possible price movements. I'm getting better at it on the M1, though.

Cheers,
K