Scalping the pip out of it

So price has broken through. Because of the choppy nature of the session, I am not going to average down. It is important for me to observe the timing of the market when making decisions.

So I put in my stop and profit limit and went to bed. I got stopped out 15 pips. Although this trade didnt work out, my loss was small. My stop got filled almost to the pip. Oh well, it happens. I dont think it was a bad look. Maybe I should have averaged down once and put my stops accordingly. But I also did not get to involved in a trade that was not necessarily my primary trend trade.

This is another short opportunity on the EY. I am already short from the last few days so I am adding to existing positions. I love to get back in on the trend when I see low risk setups. I am short the yen crosses from some technicals on the higher timeframes, so I feel comfortable getting back in.

Got out with 20 pips! Not bad little scalp. Price has been coming down all night so I dont really want to be adding to my Right now I am up 179 pips from my EY positions that i am holding from the last couple of days. Price action is engaging the previous congestion band around the price levels right now. I expect the EY to hit a short term bounce and retrace before it puts in another leg south.

This is the benefit of trading in the direction of the trend. That scalp has a lot more help with the trend so the trade is still developing!

Looks like price is ready to bounce up a little. THat 61 fib is a great indicator with over sold stochs on the 1 and 4 hour charts. Not a clear entry on the 5 or 15 so I may want to take my time before jumping in against the trend but I am definitely watching...

Because I am short with a significant position short on the EY, I may be looking to the GY to form a synthetic hedge to ride price back up in the short term. The yen crosses usually move together during the asian session so I have my eyes on it.

This is a perfect illustration of why I stayed away from this trade. It was in the middle of the range on stochs and in a serious downtrend. Price action stalled as soon as it hit the 50 EMA. If we see a new attempt at the low and resets the stocks with some additional indicators I may consider a long.

This was a much better look. A fifty pip bounce when the stochs and rsi lined up. Patience will give you the setup rather than chasing the market.

If anyone reads this and has any questions please feel free to ask. I know that my charts can be confusing if its your first time looking at them. Let me know if anything is unclear and I can explain.

Much Love!

Just got in short here. After the retracement from last night, price action needs a breather. I am going for maybe 20 pips, but I will watch it as it goes. Price came up to meet the 50 EMA and was overbought on stochs and RSI. I like my chances.

I got my first initial price collapse. Price dropped but I think it can maybe go another leg. Scalping is a quick business. I am constantly checking in to see if my trades are showing me the signs I need to proceed. I will stay in on this one. Because it is the GY I need about a 30 pip stop minimum. Very aggressive pair.

I am still bearish on the yen crosses so this is in my trend bias. This is why I feel like I can get in with fewer indicators.

So I got some pips here. About 15 pips. Looks like price may continue to collapse, but I got out when the 5 min stochs bottomed out to be safe. I like to scalp a lot of trades, and one of the worst ways to get caught up is to second guess your exits. I usually exit when the stochs have run their course on the 5 min. Looks like the 15 minute still has room to go.

Short on the EY in the consolidation range. Got stochs overbought and previous swing highs. Going for mayeb 20 pips with a 20 pip stop

So we got a little drop. Not totally exciting but if you look at the 1 and 4 hour charts, there is a lot of indecision. I think we can cap this trade at about 10-15 pips and be grateful for the advance.

Got what I was looking for. Not trying to wait for stochs to reset on the 5 to match the 15. I am content to take my pips and wait for the next one.

I am looking for the EY to put in another leg down for the asian into the london. Price is consolidating until we have more volume. I will be looking for stochs to reset overbought and then look for some confluence for a short entry. These charts are a daily and 1 hour chart. the 4 hour is still oversold but i think it will still put in a downleg before any real correction. I am thinking that price will try the swinglow trendline on the daily chart.

By the way. My original positions that I am in are well in profit with better than break even stops. I am looking to pyramid in extra positions as long as I think that the daily bias is short. Unless I am looking to enter or exit a trade, I am only looking at the 4 hour and daily charts for bias and support/ resistance.

I would love to talk to anyone about what I am doing. Please feel free to say Hi if you are stopping by

This right here is an example of WHAT NOT TO DO. The stochs are NOT topped out, and price action is NOT engaging the 200 EMA. A lot of trading is knowing what NOT to do. By all means, this could go down immediately and I would miss out on a scalping opportunity. Price could break low and I could completely lose my chance to get in on this trade. Doesnt matter. I trade with discipline so I never have to second guess my judgment. I would like to see price action run up and pierce the 200 EMA and get stochs overbough on the 5, 15 and 1 hour. Maybe hit a fib or previous high/low. Then it will be a great look. I will keep an eye on this one as it develops.

Please feel free to comment on any of my posts!

This is an almost immediate expression of why NOT TO TRADE unless you have your setup! Couldnt have planned it better if I tried. Having good entries is the first rule of trading. Maybe not the most important but without them you are lost in the dessert.

Looks like all we needed was for price action to come up to the 200 EMA. I didnt take the trade because there was still a lot of indecision on the stochs. I post this just to say, look at how price can respond when it is engaging come of the primary indicators.