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

[MajorMagnuM]

talk aboout a bad fill

 

[NVP]

hey all

apologies but again other matters have dragged me from the charts ...........I see that after some early falls the usd had a great Asian session overnight through to London session.........then following the challenge to weekly highs its taken a tumble more recently

scalpwise the usd is definitely looking north so lets see if that builds

later
N

 

[Forexmospherian]

jesus i was long uc with 8 ip stop and got hit for 30

HI MM

Back now for an hour or so

Question - did you take a new scalp prior to news ??

If so - you should not

Its ok being in a trade with a stop in profit and risking it etc - but any red news can have spike both ways before a proper move

Price structure for the UCad was still lower - but purely scalp wise it was a buy from 1 21 pm and went up 6 pips before the drop

I would never take a new scalp prior to news - too dangerous

Yes jump in - ideally 9 mins afterwards when the dust as settled - but news is an excuse to fry any scalper who tries to enter a few mins before hand

I will say though the 30 pip fill is extremely bad even at news - worth complaining about if on live account

Also when I have scalped red news by entering after say 30 secs or a minute with live money - you can get slippage - but normally 1- 3 pips - -and then you cannot always get out easy

News is a great excuse for brokers to have plenty of reasons why you would lose your money

So - either stop in profit prior to announcement - but even then the broker might mot guarantee it - but your argument is on your side as it was pre news and most good brokers would side with you.

Or - wait for 3 to 9 mins after announcement to catch PA off a tick chart

Regards


F

 

[NVP]

hey all

apologies but again other matters have dragged me from the charts ...........I see that after some early falls the usd had a great Asian session overnight through to London session.........then following the challenge to weekly highs its taken a tumble more recently

scalpwise the usd is definitely looking north so lets see if that builds

later
N

technically looking at USD scalp buys since 13.50pm........gbp has been the best pairing to support this ...........Cad not bad ....even NZD eventually........

EUR has been a dog


N

 

[Forexmospherian]

UJ

Back to this pair for Fz


You are correct to say R at 118 00 area - always on a big number - give or take a few pips

But was you aware of interim R at 118 =10 /12 area ??

This came from a prior up move earlier on this morning

With price not getting above there - your odds on make 20+ were decreased by the barrier

No problem entering at say 118 05 or even 07 - but unless we made say 15 etc - then it would only be a small buy scalp

If you check it out - you were buying into resistance is a time window from 11 51am to 12 09pm

So it stopped at 11 51 am - and with it no going higher by 12 00 - it then meant - probability favoured a pullback - or scalp sell

This what happened

If after 12 09 pm - it failed to drop further you might not have been able to hold your buy on and see it test R again

But when it did not of carried on falling - then the buy move was over and the TWw was saying scalp sell - helped by quick Lrs going over price by 118 09 and then PA on one min showing LL and LH as price fell - LH at 118 07
It then stops and turns only at a support that can hold it and so far thats not happened yet at still slowly falling although only just over 10 pips lower

So every TW - look normally for a change if you hit a R or S area that price cannot breach

The move will start in the 18 mins

No guarantee it will always be at 51 then 00 then 09 - but 80% of time changes happens in that TW if a S or R stops the move carry on


Hope that helps NF


Regards


F

 

[MajorMagnuM]

HI MM

Back now for an hour or so

Question - did you take a new scalp prior to news ??

If so - you should not

Its ok being in a trade with a stop in profit and risking it etc - but any red news can have spike both ways before a proper move

Price structure for the UCad was still lower - but purely scalp wise it was a buy from 1 21 pm and went up 6 pips before the drop

I would never take a new scalp prior to news - too dangerous

Yes jump in - ideally 9 mins afterwards when the dust as settled - but news is an excuse to fry any scalper who tries to enter a few mins before hand

I will say though the 30 pip fill is extremely bad even at news - worth complaining about if on live account

Also when I have scalped red news by entering after say 30 secs or a minute with live money - you can get slippage - but normally 1- 3 pips - -and then you cannot always get out easy

News is a great excuse for brokers to have plenty of reasons why you would lose your money

So - either stop in profit prior to announcement - but even then the broker might mot guarantee it - but your argument is on your side as it was pre news and most good brokers would side with you.

Or - wait for 3 to 9 mins after announcement to catch PA off a tick chart

Regards


F

yes just pre news, which i dont normally do but had a small position as well up for the session. yes bsaically it got filled 14 pips or so below my sl

 

[Forexmospherian]

technically looking at USD scalp buys since 13.50pm........gbp has been the best pairing to support this ...........Cad not bad ....even NZD eventually........

EUR has been a dog


N

Hi N

yes been interesting with correlations this morning

We had the EU - and EJ falling - ie stronger dollar and yen and weaker Euro - BUT then we had the GU and AU rising whilst EU falling - ie stronger Pound and Aussie dollar - but weaker US dollar

Then with UCad fell prior to news - saying weak US dollar and stronger Cad - but news did not have the bounce effect I suspected with the Ucad still in a a bearsih price structure - even thought ite bee n a scalp buy from 1 51 pm for over 20 + PIPS

Strange day for correlations I reckon - a lot of so called decoupling going on - just to confuse more

I am around for a few hrs so hope to take some new scalps with MM

Have a good un

 

[Forexmospherian]

2 39 pm

EU

need 2433 and 36 to be scalp buying now - or even holding any on from 2407 low

No 2433 and 36 - then further tests of low and maybe under 2400

 

[Forexmospherian]

2 43 pm

Gu

Should carry on falling on any pullbacks staying under 5677

A scalp buy from 2 30 pm - and 5648 - but will be looking for scalp sell again under 77

 

[Forexmospherian]

AU

2 45 pm

In a BTTZ

Needs either above 8725 and 30 for more scalp buys

Or - under 8688 and 80 to hold scalp sells

In between - then scalp for small pips - or end up being tricked

 

[Forexmospherian]

UJ

Difficult again as similar BTTZ set up in a range

Need under 65 and 55 to hold scalp sells

But we know 118 00 and 118 12 is all R area - so buys above 118 15 and 20

 

[Forexmospherian]

EJ

BTTZ for now#


Need above 146 58 and 75 for scalp buying and holding

Or - under 146 23 and 16 for scalp selling

In between = scalp - or leave

 

[Forexmospherian]

2 54 pm

EU so near now to 33 and then next level for holding scalp buys on

If we do get above 33 and 37 say - any pullbacks need to stay above 2417 to carry on rising again

 

[Forexmospherian]

2 43 pm

Gu

Should carry on falling on any pullbacks staying under 5677

A scalp buy from 2 30 pm - and 5648 - but will be looking for scalp sell again under 77

3 11 pm

GU comment from over 30 mins ago

Price now at 5674/5 - and I am down to 30% on scalp buy stakes now and looking for a sell in next TW

Above 5655 still another scalp buy - under 5677 / 79 say - still a sell

Could end up as a BTTZ

 

[MajorMagnuM]

how neat

 

[Forexmospherian]

2 39 pm

EU

need 2433 and 36 to be scalp buying now - or even holding any on from 2407 low

No 2433 and 36 - then further tests of low and maybe under 2400

EU comment from over 30 mins ago

we so far have made 2434 - so not high enough

We now know above 2417 - still another scalp buy

so we might end up as a BTTZ from say 16/17 to 37 / 38 - ie 20 pip range

Over 38 + easy - more scalp buys

Under16 and 2406 - more scalp sells

In between 16 and 38 - scalp for 3-7 pips or leave until clarity

 

[Forexmospherian]

3 20 pm

Ucad and AU still asleep atm ;-)

 

[Forexmospherian]

3 28 pm

Shame now - it should be the busiest time of the day this hour - but so far too many BTTZ areas

All the main action was early this morning and now we need prices to come out of small ranges

Will stay for next 10 mins or so - then pop back after 4 00 pm - to see if next hour any better

 

[Forexmospherian]

GU

3 30 pm

Trying again at 5677 -80 area - a R area


Need now under 65 for more scalp sells - or over 83 and 86 could be a break out - up to 5700 ??

If thats the case - will EU make over 2437 and 40 next ??

 

[MajorMagnuM]

got that one