Learn to be a Scalper - page 52
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Hopefully these marking explain more. Thanks
Thanks, will check them over.
News here soon, will wait for confirmation on direction for about 3 minutes or so after.
I looked at chart 1 and put some areas I would have been watching.
Price was moving towards the previous High (yellow line), I also put in the legs up to that top, you can see it kept giving higher lows on the drops, then when it hit the top, it tested and failed, and went down nicely.
This is how I look at the 1min chart normally, on the 5/15 I just look at overall tops/bottoms and candle bodies.
On chart #2 you took a short after the breakout and test of support line, that was a good idea.
Only thing you can do is close it and change your trade direction after it gives a higher low on retest of that support area.
I did a couple longs before 30 after the hour, was up on both, but took losses, stops were real close, so not too bad.
Now watching 3800 level, not sure if it will hold up...
1.3816/20 area test and fail, I will short.
Update: Okay, made back those 2 losses on that short, was a typical retest of the previous London Support.
I do not hold them for breakout, we could be in a range setting area, no worries, another trade will form soon enough.
1.3800 is holding for now, if we break below with strength, I will short it.
I exited my shorts before the end of this hour, 10am EST time is the crazy hour, any thing could happen, usually a strong move for the day.
I took a 3800 break for entry 1, and then a retest of that for entry 2, I made 7 pips on each trade.
A good start for my day, but I am going to be out till tomorrow.
Cheers
The new hour opened with what looked like LONGS, it went above 3800 then just collapsed to my 1.3782 line I had marked earlier.
I am curious if we will see a bottom form in the next couple hours going into NY?
I am clear of trades, I usually won't trade this hour, but I do like the last hour of London when I am available.
Cheers
Aside from NeverQuit's thread, this one is freaking interesting for me to read, man.
Aside from NeverQuit's thread, this one is freaking interesting for me to read, man.
I hope from all the charts I post you can see some things pop out, there is so many ways to chase Forex, but really, all we want to do is grab a piece here and there.
The key is never be greedy, but take a small bite of profits here and there.
This is a 15min chart I wanted you to see, how many times does this thing just hit the 65 EMA and then the pip distance on the swings.
Amazing how it all cycle's every day.
Cheers
The last 10 minutes of the 5am hour found me going both ways.
I took a short, they pulled against me about 5, I locked only +3, then when it stalled downwards, I took a long for +4 pips, and then it shot up
I will evaluate the next move.