Learn to be a Scalper - page 55

Monarch
624
Monarch  

1 minute EU chart.

Price shot up and gave some resistance, after seeing the wicks on top I decided to go short, and it played me for 3 pips on the fake move up, eventually going to my expected target.

You can see how price likes to revisit areas of previous stalls.

After my exit, price shot up directly and stalled again, taking it down a little further.

I am not sure of the overall Gap Fill of the open price, I am only trading the patterns presented.

I am watching the move to the Low of the Day for now.

Cheers.

Files:
eu_short.jpg 122 kb
Monarch
624
Monarch  

Price shot up, gave a nice quick range.

The support broke, but was tempting SHORTS.

After it came back above that line, I jumped in for 6 pips.

2nd trade today, both 6 pips = 12 total.

Sunday is okay for trading, but I am not too anxious to just trade yet.

Note: after my exit the price formed a triple top on the 1min, let's see if it breaks and continues, or drops back down.

Files:
1m_long.jpg 137 kb
Monarch
624
Monarch  

Putting a Limit Order in at 1.3882, if it spikes above I will be in.

For now it is dropping to see if longs are wanting to go to 1.3900

Update: Order was 1.3882.4, missed it by .03

New Hour Coming and I may see it take here.

Monarch
624
Monarch  

Limit triggered, then pulled back and I entered 4 more lots, and closed them when price started going no where.

After I exited, yep, IT SHOT UP FAST.

Either way, was 15 pips, bringing my total to 27 pips on a 1 lot average.

Guess I will wait for a short setup now.....

Files:
LONGS.jpg 131 kb
Monarch
624
Monarch  

Shorted and took exit at 1.3900 for 4.4

Should have held it for 1.3892 area.....

Will watch for a new long setup if we get supp lines.

Files:
short.jpg 68 kb
Monarch
624
Monarch  

Watching the 1.3886 for break upwards.

Still dipping in segments back to the breakout point from the top of the hour.

Update: The breakout line reached, now watching price back above the 1.3883 line.

Monarch
624
Monarch  

1.3886 entry LONG, will give it a few either way, last trade of the evening.

Monarch
624
Monarch  

Okay, it went against me 2.3 pips, I waited and closed for 7 pips at 9 lots, figured the move back to breakout was fair game, and sure enough, it went sideways, and gave the LONG signal.

That is 63 pips on a 1 lot average along with my earlier 31 pips = + 94 pips (1 lot average)

Monarch
624
Monarch  

News in 15m, thinking a move back down to test that last drop....

Watching for quick short before news possibly.

Monarch
624
Monarch  

The moves up faded on the 1min chart, took a SHORT and closed with 4.5.

My only trade today, going to cook dinner, back in a while.