It hasn't been able to stay above 1.3600 but I'm stubborn so far... davidmaria1, I think it was more that you came in late and they ran stops a little. It is a little choppy still. If it establishes above 1.3600 I will move my stop up. Would like to see >137.80 EURJP , >101.40 USDJPY and >1.13605 EURUSD to loosen things up. 16:31 CET ... a little good spike there, now let us see... Killed it at 1.3625 ... for +43pips ..
There you go! I missed the bus. Long EUR/JPY, target below 138.5 Done. Got a piece -19 on that previous +42 on the EURJPY. ok.
I see the move upwards, but the scalp is ok ... for +43 pips. It was a bit hard-fought to get through those levels - and there was obviously some cap on the EURJPY .. but then JPY tanked and EUR got a boost as well, passing on the EURUSD. That means that the focus was on the EURJPY, with USDJPY as catalyst - maybe the trigger for the move in providing additional pressure. I still have the two long-term trades which are double the scalping size I normally use, so it's all good. 16:42:30 USDJPY tracing back somewhat, but EUR has gotten some short-term clout now again.
If >137.80 EURJP , >101.40 USDJPY and >1.13605 EURUSD all holds forward .. then 139 is no problem. But if 139 is your target - then sell below it ... 138.85 or something, unless the momentum is great. Real resistance may be a bit above 139 though. You'll see when/if you get there. 16:53 CET some EURUSD pressure downwards - that hopefully resides soon. If it doesn't bounce soon - then it will more of a selling mood again, or just stronger volatility. 137.80 still holding - so that is a strength. Just as I wrote that it breaks again.. hehe. davidmaria1, I guess you have to be really quick and skiddish to get lucky... you have to chance a little on the entry, but when there is a momentum/pressure building up and it seems doable - then secure ok profits fast - under these continued volatile sessions. US RTH has been really erratic for a long time now. Yen back in place again now (below the thresholds). When you finally get the move you are waiting for - don't let that go negative. You only get one chance in these conditions, unless you are prepared for wider stops and more pain.
For scalping it is really safer to keep to that single opportunity - as longer prediction is more difficult. Detailed targets or patterns are very difficult for longer term - that is just the nature of prediction.
Hi guys, I have been following your trading the past few days, well not following as doing the trades just reading and watchin.. I have a forex account and I am new to it. I am not new to trading been trading for a while minis, and equities. I do like what I have seen in forex. Now I am a scalper in the minis. So what I am looking at in fx are 15 min charts for trend and basically a 75 tick chart on most. Playin s/r levels and the trend. I am still figuring out how fx moves. I have noticed a lot that the london session and us seem to move opposite, please correct me if I am wrong. I have also seen the trend is pretty good here as opposed to minis, becuase besides the past couple weeks once it is in a trend for the day it stays there, so then I like to play retracements. But I do have the personality for pretty much intraday plays and what not. But any help or advice you guys have would be appreciated in what to look for intraday. I trade on price action and not indicators. I usually trade the e/u u/j a/u g/u e/u thanks in advance
If you figure out how it moves, send me a PM, ok? HA. A sense of humour will help on you this thread. Most of these guys are pros,and will give a verbal beating if warranted.
Dont get me wrong I am not looking for anyones strategy on here at all. Just how some of these currencies move thats all. I know how the minis move now but just trying to get an I idea, are these things decent for retracement plays break outs false break out etc... Just in general what the currencies are like. Your probably like my style from what I have seen , in and out a lot! I am tempering that a bit here in fx, in the minis I was in an out a lot( the mini indicies) Now my account is at gft the spreads are fine but not trying to scalp with size for a few pips, but something atleast equal and greater then my stops. Which I think for me differ depending on the currency, I cannot have the same stop on the e/j as the e/u But aslo my stops are at swing points for s/r level.