forex scalping intraday trading 3 9 2015

forex scalping intraday trading 3 9 2015

The day was difficult initially because the two first trades hit stop loss.
GBPUSD and GBPJPY had volatility during the night and they didn't produced  fresh signals in the London open.In addition we had pound news.
EURJPY on the contrary had a very narrow range during Tokyo and ranging for long hours.
The pair produced a fresh signal a few minutes before London open so I waited carefully for a retracement.
The retracement came and I enter the short trade.The minutes was passing and the pattern I call crocodile formed the bollingers in the trigger chart contracted and inner support and resistances formed .
The breakout was eminent and it would be a large one after so many hours of ranging.
The pair violated the resistance to the upside and due to high probability of breakout I went long to the fresh long signal loosing 5 pips in the first trade  .I was taking also a counter trend trade to my higher time frame chart.Some minutes passed and the momentum wasn't there.The pair started to fall slowly ,the pair pierced the support inside the range again and decided to try for third and last time short again .The procedure of the three trades took approx one and half hour.
Placed the stop loss ten pips above and closed the platform .
I have checked again in London close to find 162 pips in my intraday trade.Finally closed 158.
Thursday have statistically very good intraday trades and they are consider from the trending days of the week.

eurjpy trigger and main chart with marked trades on them and remarks

Main chart eurjpy


The other to pairs I watch daily gbpusd and gbpjpy

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forex scalping -Archimedes breakout 2 9 2015

Hello Traders,
Today the market was choppy and was lucking momentum.
We took two scalps.One in gbpusd during the European session approx 100 minutes after London open and one in the American session in eurjpy approx 45 minutes after DOW open.
In the first trade gbpusd gave as the most appropriate conditions since it moved in a very narrow range during Tokyo and gave us a signal after London open.
We wait with patience the retracement breath I like to call it and we entered in the trade.
The entry wasn't ideal but the pair gave us the scalping target after approx 20 minutes.Then the trailing begun and  in a point we saw 25 + pips .After this we saw a support forming ,an opposite signal in the midle trigger chart and we wisely decided to take all the traing profit and get out.As you see in the chart below we did wqell because the pair reversed.
We didn't touch eurjpy and gbpjpy in the European session since both of them moved in wide ranges during Tokyo.Approx 150 pips for gbpjpy 100 pips for eurjpy.
Then in the American session eurjpy broke the Tokyo range (Archimedes breakout)entered in a small retracement of 10 pips from the brake and took the forex scalping target as you see in the pictures for the two thirds of the position.
Left the rest on trailing but while the trailing stop reached the entry point eurjpy retraced and hit the stop loss.
So with these two trades we secured our primary target to remain consistent profitable one more day.
The first trade is writen on video were I explain what I call  Archimedes breakout (Tokyo range breakout) and the second is in pictures below.

The eurjpy trade. The entry


The hit of the scalping target



The trailing stop is hit


Our gbpusd trade


The gbpjpy today was the pair to avoid

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forex scalping 1 9 2015 trading with the trend

forex scalping 1 9 2015 trading with the trend

Hello,
Today forex scalping  was more smoothly than yesterday.
GBPUSD and EURJPY responded quickly approx one hour after the London open and start trading south.We took short signals in both but none of them took a breath .
The GBPUSD has probed lower in  trading today - moving below the low prices from July and August in the process.
Approx 80 pips for pound dollar and 95 pips for euro yen.
Waiting with patience a  retracement came in pound dollar three and half hour after London open in the median line.
Then a resistance is formed and the moment a double top formed in the trigger chart I have entered a short trade with nine pips stop loss ignoring a long signal whic was counter trend in the higher time frame chart.
Forex scalping target achieved quickly in less than 15 minutes and then left the rest with trailing stop.
Knowing that at 7.30 EST the economic announcement of Canadian GDP will influence the dollar I didn't gamble the profits and close the trade at 25 plus pips even if I saw 36 in a moment.
The problem is that there have been two breaks below this area. The first failed.  The ensuing correction stalled near the 200 day MA at the 1.53635 (the high stalled at 1.53685).  The second probe moved to new day lows and is back up testing that break area (between 1.5329-38).  If the price can not stay below, the patience of the sellers may wain and the seller could switch to buyers instead.
ISM data is due. So risk is increased.  The market will be looking for clues from the data. A more bullish number and new lows can be expected. If weaker, the sellers will likely become buyers again and we should see a rotation higher in the pair.
The whole trade is written in the video from the beginning .

Here is the three pairs I watch every day with remarks on them.

gbpusd



eurjpy



gbpjpy



As long as you are new to trading and you are learning always look at the higher time frame and take your scalps and trades to the direction they dictate.
Counter trend trades are dangerous to your account and psychology.
Don't try to catch bottoms and  top of the mountains you will bankrupt your account.

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