Sunday, 28 February 2016

Forex Scalping Live [2016-02]

Forex scalping live 2016-02

EURUSD +6 pips [2016-02-19]

EURUSD +6 pips four column resistance

Euro was trading in a range during the early London session with a nice 4 column resistance level 10 pips away from the 1 minute boxes. Shorting at the resistance brought in 6 pips.

GBPUSD +8 pips [2016-02-22]

GBPUSD +8 pips White Zone Trade

This orange to white trade took longer than would normally have been expected and usually we would have timed ourselves out of the trade after 10 minutes. However, it this instance it was kept and the position was added to and in the end produced +8 and +7 pips.

GBPUSD +6 pips [2016-02-23]

GBP/USD +6 pips 15 minute resistance

So far this year cable has been volatile. In this trade cable is recovering from losses in the Asian session and has moved back thirty pips from the one minute box . 2 band shades on the one minute and the 15 minute provide a good entry point and and cable is shorted here for 6 pips with reduced risk because of volatility.

GBP/USD +6 pips [2016-02-24]

GBPUSD +6 pips white zone shrinks

Another orange to white trade, but this time the gap back to the one minutes is just 8 pips, normally too close to take the trade. However, the 1 minute white zone has shrunk and this is a good indicator that price is likely to retrace.

GBPUSD +7 pips [2016-02-25]

GBP/USD +7 pips 15 minute trend

This is a good example of a 15 minute trend trade. After a strong move up, cable has retraced deep, finding a substantial short term support zone on the 15min time frame with help from the L7 on the 1 minute and the 5 minute level. The trade worked out for an initial 7 pip scalp with the move eventually yielding 25 pips for those that held for more than the initial scalp.

To see why this is important watch the video series on cross currency correlations. Part One Part Two & Part Three

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