Learn to be a Scalper - page 31
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For now I am bias to the upper side, especially after a nice drop the past week.
I am thinking that move down was a typical cooling off of the Bullish Move previously.
Here is the 4hr chart, showing sup/res with yellow and the targets with green
Overall the past 4 weeks prior to this bearish move, price was in a NO TREND mode, in which there were no major streaks of movement.
There are many possibilities coming the next few weeks, the remainder of the year will be very exciting.
I am expecting a move up into that last week R BAR before a serious short could come into play for a R2 possibility.
It will present itself this week, now we have some juice flowing in the market.
I will do my best to update this week as price makes daily closes.
Here is the weekly chart.
Here is that same chart reduced to a Daily.
I made a few notes to show areas of interest.
Based on a Major Fibo from that weekly G4 series:
Low 1.2586
High 1.4281
38.2% 1.3634
50% 1.3434 (This would be R2 on Weekly)
Here is the weekly chart showing the Fibo levels on the larger time frame.
We are on the 2nd Fibo move and will be watching for a 50% retracement from that sequence.
I will take this chart and reduce to a Daily/4hr/1hr to watch these lines as key areas.
Back at open.
Cheers.
5pm EST - Market Open
Pre-Market Range
High 1.3722
Low 1.3643
I will be watching these levels.
3 shorts in today's session with (2 lots)
+2 = +4 pips
+4 = +8 pips
+9 = +18 pips
Weekly Totals
3 Wins 0 losses
+ 30 pips
I commit a mistake and forget to close one long position on Friday. That´s why I was long in the begginig of today’s section. And I was stopped in the first minutes at 1,3685. In spite of being a good position it was a very bad stop loss. Fortunately it was demo account. There are a lot to learn…
I´ll keep on working…
Monarch, can you please tell me how was these trades?
Thank you.
For the past 1 hour, I have taken Longs on the pullback zones at the 177 LWMA on the 1min chart.
Here are my results.
I am on taking screen shots yet, just wanting to scalp freely, I will do more charts later on.
I have went back to the 1 lot entry, I will not do 2 lots until I reach my weekly goal.
Total after spread
+1 pips
+1 pips
+3 pips
+9 pips
+5 pips
+2 pips
Weekly Totals
9 Wins 0 losses
+ 51 pips
I took a short at the recent top to see it spike up that 10 pips, then took a 2nd entry during the Typical Asia play.
I closed with +10 pips and +2 pips as per my charts.
I am taking small break.
Weekly Totals
11 Wins 0 losses
+ 63 pips
I commit a mistake and forget to close one long position on Friday. That´s why I was long in the begginig of today’s section. And I was stopped in the first minutes at 1,3685. In spite of being a good position it was a very bad stop loss. Fortunately it was demo account. There are a lot to learn…I´ll keep on workiMonarch, can you please tell me how was these trades?Thank you.
What do you mean here?