Learn to be a Scalper - page 47
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This was my 2nd short of the day, I had one earlier after it spiked up into the range, faked the longs and then went down hard. +10
This chart shows the higher low on the bottom, then the lower high on retrace movement, I entered a +8 short that performed as usual.
The EU has gotten more predictable, especially in a trending move like we have seen this week.
Cheers.
It has been several weeks since I have posted or even taken a trade.
Here is my first trade in a long time, price came down from the move up during NY, and I caught the 1minute showing stall areas for the spike up.
+10 pips right before the new hour opened.
Cheers.
Hello Monarch,
Good to know that you are still trading. I've been busy but getting back to it.
Serj
Hello Monarch, Good to know that you are still trading. I've been busy but getting back to it. Serj
Good to hear from you, I hope everything is going okay for you?
I have not been around as much lately with all the summer projects taking my time.
My trading is still moving forward, just not as much time to punch the button.
Here is the 6am (pacific time) trade.
Price pulled back to the 24ema on the 5min, and we had a break of the support 1min candles for entry, took 2 on the first long and 10 on the second trade.
Keep in contact my friend.
It really does not matter what time frame a trader chooses, the important factor is where is price "comfortable"?
This is a 5 second chart, price was moving downward, and then you can see it found a spot where it "stopped," temporarily is all that concerns me.
After price stopped, it went back up, on a small time frame the probable amount of profit is smaller, but the concept is always the same with any time frame.
I took 3 pips after paying 1.2 in spread, so it jumped up 5 pips after that stall on the drop, on a 1min or 5min chart you can find yourself with 5 to 10 pips on these quick reversals of price.
Something I have found in Forex is that price moves, then stalls, then retraces, eventually going into a range, or a continuation, or a reversal.
So with that concept in mind, I take my entry on a price turnaround, then put my stop on the failure of it moving back the other way, and my profits are near the area where it stopped previously in that current move.
Cheers.
5 Sec chart? That's cheating
haha
I haven't really traded on Sunday for a while, so decided to watch some charts and took this trade. Was hoping price would break the previous lows but it stalled so I got out. +4
Here is a view of my trading perspective on the 1 minute chart.
Price retraced at my 5 second Long area, then came back to test that low, it was here I took 3 LONGS based on the holding strength at that level, it played around a bit, then spiked up to the previous areas of where price found itself holding.
I took 7 pips total on all 3 averaged trades, that was 21 pips with the other 3 I took earlier, already at 24 pips trading the same area.
This is why I focus on a 1min and 5/15 min chart, it has it's quick rewards, just find your patterns, trade them, and if they pay get out, if they fail, GET OUT.
Cheers
5 Sec chart? That's cheating
That was a great trade, I liked how the 5min candle formed a top and then a stall with the break lower, your entry was perfecto.
Keep posting those setups, it is the key to success.
Cheers my friend.
Here is what I am looking at, nothing else.
Simple setups, take the bounces on stalls and reversals.
Taking a break, back in a while.
Cheers
A nice drop here, with retracement in progress, below 1.3838 and will see more movement to 3800/3810 levels.
Waiting for shorts here.