daytrading EURUSD using price action

hello, i have been daytrading(perhaps some people would call it scalping) the EURUSD 1 and 5min charts during the london and US session for a couple weeks now pretty successfully.

my technique has been to use predominately price action, and i also throwup a Bollingerband set to 13 EMA and then i add a 9EMA and a 5EMA which i use to trade pullbacks and makesure i am on the right side of the trend.

i also have been trading chart patterns, Trendline breaks and Support and Resistance.

i usually make between 5-20 trades in a day.


i have tried out a couple other indicators like stoch and MACD, but really havent got any benefit from using them.


basically, what i wanted to know was how many people are sort of daytrading the 1 & 5Minute charts using discretionary tactics?

what kind of methods are you using and do you have any links to literature or pics you can post of some trades?


it is 2:46AM right now, and i should really head to sleep becuase i dont want to get into the habit of staying up so late concidering i wake up at 5am monday-friday but i was hoping to get a discussion thread going where we could share ideas and stuff, and tomorrow i will start it off by posting some charts of the trades i took this week

I'm trading the Force minute system. It's under trading systems, a lot of people are seeing some good success and people are really good at helping each other.

Good luck with your trading.

kudos friend. I reckon price action is the way forward ( EMA's also) thats all I use including patterns, s/r levels ,and trendlines, you know the usual. I'm not a fan of indicators as they are lagging behind and only say what has happened whereas price action tells what is happening at the moment. That being said im looking into divergences on MACD but have not incorporated it into my trading just checking how price is behaving.

hey, i have also looked at using divergences but have had some trouble using the when actually trading, as i find it difficult to tell when the divergences are done, and when the peak of the indicator has been reached and the divergence is complete.

also, what EMAs do you use, and in what way?

here is a pic of some trades i took, if anyone wants me to post some more let me know.


this pic has two trades, all the red lines and arrows are pertaining to trades number 1, and all the blue lines and arrows are pertaining to trade number two.

this is 1min EURUSD chart, i think during the london session.

TRADE #1 : we had a support line which is marked as the horizontal redline, and for a while back it had been tested but not broken, finally we get a candle that closes below the support line strongly and on the open of the next candle (marked as the first vertical red line) i opened a short trade. i hung in for a while but really it was not a very well managed trade, and i got out with 20 pips, ofcouse i was happy with 20 pips but one minute later the next bar shot down another 12 pips. i got out at the second red vertical line.

TRADE #2: here we had a almost identical setup in every way,but in reverse. we had an overhead resistance line which had been tested but not broken several times,which is demarked by the horizontal blue line. we had a strong candle close above that resistance line and i opened a long trade at the beginning of the next candle(vertical blue line #1). i did endup going to about +8 or 9 and could have set to breakeven but i didn't and it went against me and i was pretty down in the negative but on the 5min chart price bounced off the 13EMA, which is what my BB's are set to and went back up. i eventually closed at +8 because i often close out to early but am getting better at it. the close is marked by the second vertical blue line.


if anyone has any input regarding trading style, some tips or ideas, questions, comments, or anything else feel free to ask or tell.

damn troll

noone else daytrades eurusd in a similar fashion?