Learn to be a Scalper - page 45
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The market opened with a push up to 1.4260, then a drop back down to 1.4226.
Price is now running around 1.4240 and seems to be ranging for the coming hours of different broker open times.
I do no trade the market till most brokers are opened, and OANDA usually has a 10 pip spread for some time.
Let's see where it wants to go this week.
Cheers
My first trade setup was the breakout above the first Resistance of Open Market.
I set a 20 pip stop and limit and closed the charts.
My entry was the test of the breakout as seen on the 5min chart, price remained at that point for about 20 minutes, and then shot upwards.
The move above 1.4291 was the 3rd test of this resistance, and moved 30 pips above.
I am still expecting the move up to 1.4400, which may take the week to accomplish.
In the meantime pressure is slowly to the bullish side, and if the US markets continue upwards this week with strong Gold bullish movement, then 1.4400 will be no problem.
If the US collapses this week, then will start our move downwards again.
Cheers
Looks like the 1.4400 is going to happen after all, much sooner then I expected.
I am watching this area for a stall pattern, then a possible move back to the lower area where price broke out this morning.
I will be looking for a 5min lower high near the 1.4390 to 1.4410, if it forms I will short, if not, I will wait for 1.4420/30 stall areas.
Cheers
After seeing the poor US session today, I thought EU would be in a possible move down.
I set my limit SHORT order below the current support area, and closed with a limit order for +11 pips, I was on the phone when it paid out, and did not have the chance to let it run deeper for more pips.
My limit and stop were both at 11 pips, so it was a 1 to 1 trade ratio.
Now it will be time for some more scalping opportunities in Asia session.
This short on the 1 minute was based on the 1hr and 15m setup for stall areas.
I took +7 on this, I almost took a few more entries after my initial entry, but was not focused while watching boxing.
Your information are really helpful. Thank you so much for the effort...
...
Your information are really helpful. Thank you so much for the effort...
I am posting simple charts to illustrate how easy it is to make quick trades.
I also monitor 15m and 1hr charts to catcher bigger swings and reversals.
I also use a group of indicators, but I do not post them because I enter trades based on the PA on the 1m and 5m.
Cheers
Price moved upwards on the JPY news, then stalled and came back to take out the current support line.
I entered a few pips late and still got 7 pips.
1min chart attached.
Cheers.
Here is a look at my swing trading setup.
I monitor the same charts on a 15 min and 1 hr chart, watching for current or longer term trend strength.
Typically in the cross of the strength, price will break a current support or resistance and move out further, eventually returning to those cross points.
Once price moves across the MA's the setup is VOID, and I will start to watch for the color on the indicators to change to give a new signal.
I have not watched this on a 1min yet, because I take my trades on PA with the 1min and do not want small swings to persuade me from the overall price strength seen on a 5/15/1hr chart.
I took several shorts today in Asia, basing my decision on the pressure to the RED on the 5min chart.
I will be on SKYPE daily during the Asia session.
I monitor the 5m line chart also, it gives great higher lows for BOTTOM STALLS and lower highs for TOP STALLS.
I will watch for momentum changing spikes on the grey area marked on my chart, normally those are the turning points for fast reversal pips, or breakout pips.