Learn to be a Scalper - page 2
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I am now watching the 3866 area for a new long setup. 8:54 am EST
Based on my 3865 zone, I had marked the 5 min bodies once again for the expected move back up.
I went in the Long on the 8:55 am EST candle and closed the trade with +4 prior to the 9am EST hourly candle.
As you can see, after my exit price spiked even further to the top side.
Now watching the range of the 8:30 am EST NY news movement.
High 1.3888
Low 1.3860
The projection is 3906 once the top breaks.
I will be out for an hour or so.
Monarch
10:00 am EST
Price is still pressing upwards, I am keeping an eye on the 3906 level here in the next hour.
The moves down are presenting higher lows, so for now the trend is still up.
I will debate shorts after the short term trend makes new lower highs.
10:10 am EST
We are presently on the 5th Bullish 4 hour Candle, and we have reached the 3906 level.
The next upper level is at 3946, but we are also going into the London close in the next 2 hours, so price can be very aggressive upwards, or we could start to see stalls from the 3900 to 3915/20 area.
I am still waiting for short indication.......
I would prefer a 5 min candle going Red showing the possible slowing of the upper move, then will look for lower high formations on the 5 min and 1min.
I will start showing more charts in the coming week as for my other charts and where and how I pick areas to watch, for trades and targets.
10:15 am EST
The 5 minute candle closed Red, I will now be watching the test of the top here on the next cycle.
10:34 am EST
Here are the swings and trends during the move up to the 3906 level.
The 5 min chart has shown good opportunity thus far for longs, now we watch for the completion of the cycle for lower trends to form.
I was watching the reaction to the pullback into the trend lines shown in the previous 5 min chart.
Based on my 1 min chart, support formed, and I entered the Long on the break of the marked line (arrow shows entry in yellow circle) on Oanda.
Price moved slow, then pulled down to test the low I had marked and failed to drop deeper, it was there I knew my long area would be reached clearing +6 pips total on that scalp.
There are many ways to trade the market, I hope there are those interested in learning how to make profits from price action scalping.
Here are the 1 min entry and exit charts showing the move, and the 5 min trend chart updated.
Cheers, all done until Asia session.
Monarch
6:07pm EST Thursday
Looks like price nailed that 3946 line to the pip, and were now back to the 3920 area, and will look to the 3906 for support on this pullback.
This was posted earlier today:
We are presently on the 5th Bullish 4 hour Candle, and we have reached the 3906 level.
The next upper level is at 3946, but we are also going into the London close in the next 2 hours, so price can be very aggressive upwards, or we could start to see stalls from the 3900 to 3915/20 area.
7:01 pm EST - News release, waiting........
Current Range 15 pips.