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EUR/USD: IntraDay Scalping and Short Term Swing Trading Only

  • #121
  • Oct 7, 2015 2:45am Oct 7, 2015 2:45am
Quoting KzX
It may sound ridiculous but I expected 1.1345 today.
That's the cool thing about your scalping and calls to prove it...you don't let your outlook and analysis precede selling when you need to and buying when you need to, you don't stick to your opinions and freeze with one direction, if a trade feels like it might burn you, you are out before it gets hot enough to hurt you..a true trader and scalper...just awesome...most scalpers are like that, but I've seen you in action doing it several times everyday for weeks now. Kudos.
  • #122
  • Oct 7, 2015 2:57am Oct 7, 2015 2:57am
Quoting Pipologist
This is what I see unfolding within the next few sessions if all is "normal", it aint pretty but you get the picture... {image}
The last image was for the short term bears...

This one is for the bulls...(and short term Elliot wavers)

I think either scenario could play out, however as long as we are under 1.1250, I think the first scenario is still in play.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 90 KB
  • #123
  • Oct 7, 2015 2:57am Oct 7, 2015 2:57am
Quoting Pipologist
{quote} I was leaning that way too and was preparing for it, but I was thumbing through charts with experimenting with some custom indi and all of a sudden I saw topping patterns on all of the minute and hourly charts and then extended it out to all charts and saw it coming. It looks like the weekly is turning too, of course monthly has been down for a long time, but ironically it looks like it may turn up within a month or few or less. We may be starting a swing up but unless the H1 and H4 go with the flow, these PBs up may be just more controlled...
I only traded morning scenario on this pair - short. Was hoping for a bounce at 240 but they went straight through it without hesitation, hence my TP was 239.
Started looking where they will stop - 225 - took long there for a nice scalp then short for a few, then I burned one trade at BE +1.

Currently holding smaller long from 232 in case of a sell off on dollar.
  • #124
  • Oct 7, 2015 3:02am Oct 7, 2015 3:02am
Quoting KzX
{quote} I only traded morning scenario on this pair - short. Was hoping for a bounce at 240 but they went straight through it without hesitation, hence my TP was 239. Started looking where they will stop - 225 - took long there for a nice scalp then short for a few, then I burned one trade at BE +1. Currently holding smaller long from 232 in case of a sell off on dollar.
You trade like a pit trader. I know there are few pits now days, but holding different lot sizes, different prices, different directions all at the same time. Awesome.
  • #125
  • Oct 7, 2015 3:24am Oct 7, 2015 3:24am
Thanks buddy, I scalp EU because it's in consolidation and it's extremely liquid. It's a top pair for scalping. Mid term trades all other pairs. Scalping tho entertains me more. That feeling you can win against those stupid algos...
  • #126
  • Oct 7, 2015 3:33am Oct 7, 2015 3:33am
Quoting KzX
Thanks buddy, I scalp EU because it's in consolidation and it's extremely liquid. It's a top pair for scalping. Mid term trades all other pairs. Scalping tho entertains me more. That feeling you can win against those stupid algos...
Trying to think of some simple winning algo myself exclusively for this pair (MT4 EA), one idea is straddling the open with limit buy and limit sell with targets at each projected ORH and ORL and stops around 10 or 15, any stop over 20 and the swing has been totally miss-timed. Simple and stupid maybe too simple and too stupid.
  • #127
  • Oct 7, 2015 3:43am Oct 7, 2015 3:43am
Stopped out of swing trade with profit...is the sub Elliot wave 5 to the upside in play now? NY is waking up.

Attached Image (click to enlarge)
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  • #128
  • Oct 7, 2015 3:53am Oct 7, 2015 3:53am
Quoting Pipologist
{quote} Trying to think of some simple winning algo myself exclusively for this pair (MT4 EA), one idea is straddling the open with limit buy and limit sell with targets at each projected ORH and ORL and stops around 10 or 15, any stop over 20 and the swing has been totally miss-timed. Simple and stupid maybe too simple and too stupid.
The problem with automation is that good results during ranging zones will bad during rallies and vice versa. I designed an EA with my friend once (m5 scalper), it was pretty damn good during ranging months but when the rallies started it either was at 0 or slightly negative. We wanted to add some kind of high volatility stop but dropped the project. Maybe we'll come back to it one day.
  • #129
  • Oct 7, 2015 4:02am Oct 7, 2015 4:02am
Quoting Pipologist
Stopped out of swing trade with profit...is the sub Elliot wave 5 to the upside in play now? NY is waking up. {image}
These EW are big no no
  • #130
  • Oct 7, 2015 4:04am Oct 7, 2015 4:04am
Quoting KzX
{quote} I only traded morning scenario on this pair - short. Was hoping for a bounce at 240 but they went straight through it without hesitation, hence my TP was 239. Started looking where they will stop - 225 - took long there for a nice scalp then short for a few, then I burned one trade at BE +1.

Currently holding smaller long from 232 in case of a sell off on dollar.
No shit
  • #131
  • Oct 7, 2015 4:10am Oct 7, 2015 4:10am
Quoting KzX
It may sound ridiculous but I expected 1.1345 today.
yes lets high up
we don't predict, we only ride
  • #132
  • Oct 7, 2015 4:48am Oct 7, 2015 4:48am
shorting at 70
  • #133
  • Oct 7, 2015 4:49am Oct 7, 2015 4:49am
Quoting KzX
{quote} These EW are big no no
LOL. I once interviewed with Glenn Neely when I was late teens or early twenties don't remember. At the time he was basically an unknown analyst with a few articles and had just published or was working on his first book. His big thing back then was Dow 10,000. Most thought he was a bit far fetched at the time. He wanted someone to chart for him. Sharp guy and an EW fanatic. Didn't get the job but it worked out for the better I think.
  • #134
  • Oct 7, 2015 4:51am Oct 7, 2015 4:51am
Quoting puney
shorting at 70
Perfect. Mid of OR and CET open, sweet spot.
  • #135
  • Oct 7, 2015 4:52am Oct 7, 2015 4:52am
Attached Image (click to enlarge)
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  • #136
  • Edited 5:52am Oct 7, 2015 5:31am | Edited 5:52am
This is fun ride down aint it? Anyone taking at 40? Or do we ride down some more?

Out at 493 here didn't catch it at the top like puney, wasn't watching and didn't notice until I saw the post, but it was good either way.

Thank you puney for the heads up!

Reversed to long here at 498 stop at 45.

update: BE trade. should have taken quick 5, but now short again at 501 stop at 585

update2 misread my chart. my bad. my loss. turned a good trade into a bad one by reversing a couple of minutes too soon. minus 8.4 disappointed...experiementing with some new charting methods and after the trade looked at there was no reversal there, just a long continuation. oh well.

Attached Image (click to enlarge)
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  • #137
  • Oct 7, 2015 5:49am Oct 7, 2015 5:49am
That was a nice full swing 73-43. I also didn't catch it at 70, at 67 but unfortunately closed it too early.
Anyway, good call!

Went long on GA, either shoot up or a royal flush from here.
  • #138
  • Oct 7, 2015 5:54am Oct 7, 2015 5:54am
Quoting KzX
That was a nice full swing 73-43. I also didn't catch it at 70, at 67 but unfortunately closed it too early. Anyway, good call! Went long on GA, either shoot up or a royal flush from here.
GA don't know the acronym..?
  • #139
  • Oct 7, 2015 5:54am Oct 7, 2015 5:54am
exited the trade at the UK pivot
Attached Image (click to enlarge)
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  • #140
  • Oct 7, 2015 5:55am Oct 7, 2015 5:55am
Quoting Pipologist
{quote} GA don't know the acronym..?
GBP/AUD
They went up literally minutes after that post
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