Learn to be a Scalper - page 7
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Price gave the entry point at the 3874 twice, then fell deeper to give a short fake, it then stalled on the drop and bounced back above that 74 line to give a long.
I cleared + 6 pips.
Attached is the entry and exit 5 minute chart.
Since market open I have taken 18 trades on E/U.
17 wins and 1 loss.
The loss was -2 pips.
The wins ranged from +3 to +18 pips.
3:35 pm EST
Took short EU from a 5 minute rush and failure to the top side.
Here are the entry and exit charts.
Cleared another profitable trade at + 5 pips.
Here is the update to my weekly trades:
22 wins and 1 loss.
The loss was -2 pips.
The wins ranged from +3 to +18 pips.
Another quick 5 minute candle entry.... Shorts were my bias most of the trades today.
Cleared a quick +4 pips.
I am attaching the chart at my entry areas and exit to see how they look prior to forming a result.
Coming up to Asia open, and price has been staying below the 3904/06 level for the past 8 hours, basically the New York session.
One thing is to consider, Asia likes playing quick on reversals when there is no other market to compete with them: (London and NY are closed).
I always watch the hour before the Asia open, and then at 8pm EST I begin my analysis of highs/lows, and range levels.
Let's watch how price reacts at the 3904 up to 3908 level during this small upper push here.
If the level breaks, then I would be watching for the first levels at 3912 up to 3926 on the smaller part and then up to 3950 which has played many times if we continue upwards.
On a rejection, we would first have to see how the daily NY low would react at 3863, and I still have a target lower at 3830/28.
I will shout when I start to see something familiar.
Update 7:48 pm EST: Price has reached 3904 and looking for 3908.
Update 7:50 pm EST: Price has spiked through these 2 levels and has reached 3912 level, so I am watching the move to 3926, or price to stall and come back under the 08/04 levels.
Update 7:53 pm EST: News for JPY has been released, no more news factors for over 3 hours.
Update 7:56 pm EST: Do not hurry shorts, price is holding above NY level of resistance, and Asia is coming online in a few minutes.
Asia looks like they may want to push price higher, it has moved over 20 pips going into the open, and has not had much pullback during the movement.
I am going long here very soon, my stop is at 3908 once I enter on this break above move.
I was watching the Baseball game and during that time here (20 minutes) I have been in a Long position.
I had entry price at 3912 with target at 3922 and stop I put at 04.
So that is near a 1/1 ratio, not my normal stop size, but allowing Asia some room to play it out.
After looking at the 5 minute chart, I have decided to release this long with a small loss of - 4 pips, there were several times it tried, but there are too many easy trades to hold one this long.
Normally I am in and out within a 5 minute time frame, but to hold one for almost 30 minutes goes against my own style.
Here is the update to my weekly trades:
22 wins and 2 loss.
The loss was -2 pips and -4 pips.
The wins ranged from +3 to +18 pips.
I waited for the stall patterns on 1 minute to form on this Asia drop.
Cleared +3.5 pips and +2.5 pips on the 2 entries.
I am presently in another long now watching higher lows possibly form.
This will go for 5 or more if it breaks last high attempt at 3890 line.