Opened and closed short EURJPY average+ 110.1 p
Attached Image (click to enlarge)
PVSRA (Price, Volume, S&R Analysis)
- #3,147
- Edited 8:51am Nov 23, 2015 8:09am | Edited 8:51am
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
EU M5, FIFO quick snipe trade on pullback from short term resistance 1.06500 +13 (10 lots +1.3) could have held a little longer ( only held for approx. 1 minute) as profit taking pullback from run up. I love sniping these quick MM momentum trades as usually very predictable for quick pips..............
NOTE: Hind sight, (Bottom Chart posted answering PM's received in re: FIFO scalping) closed way too soon left too many pips on the table with this one and also increase my lot size for these small pip targets as these pullbacks happen often after a fast big run up to key resistance levels or down to key level support areas as MM's take profits. For anyone interested, just watch any pair after a big news event or fast move up/down and watch the profit taking on a M1 or M5 chart and these moves can be predictable and profitable. Case and point this current EU move right now as there was nice pips to be made on this one and I closed too early (of course the caveat is only if your a FIFO scalper as usually after quick pullback & profit taking will run back to original direction and re-test S or R. That is the reason these must be FIFO scalp trades and not for most new traders as this method of scalping requires lots of screen time but can be profitable if the trader has the interest and commits the time and effort to this style..................
NOTE: Hind sight, (Bottom Chart posted answering PM's received in re: FIFO scalping) closed way too soon left too many pips on the table with this one and also increase my lot size for these small pip targets as these pullbacks happen often after a fast big run up to key resistance levels or down to key level support areas as MM's take profits. For anyone interested, just watch any pair after a big news event or fast move up/down and watch the profit taking on a M1 or M5 chart and these moves can be predictable and profitable. Case and point this current EU move right now as there was nice pips to be made on this one and I closed too early (of course the caveat is only if your a FIFO scalper as usually after quick pullback & profit taking will run back to original direction and re-test S or R. That is the reason these must be FIFO scalp trades and not for most new traders as this method of scalping requires lots of screen time but can be profitable if the trader has the interest and commits the time and effort to this style..................
Keep It Simple
- #3,149
- Nov 23, 2015 9:34pm Nov 23, 2015 9:34pm
- Joined Jul 2011 | Status: Trader | 1,521 Posts
AUDUSD -SHORT {image}
I lost confidence...look like AUD will go up......
- #3,150
- Nov 23, 2015 9:49pm Nov 23, 2015 9:49pm
- Joined Jul 2011 | Status: Trader | 1,521 Posts
OPENED audnzd short {image}
Update
AUDNZD Still opened...I put SL
Today will be news and I do not want to risk
- #3,151
- Nov 23, 2015 9:52pm Nov 23, 2015 9:52pm
- Joined Jul 2011 | Status: Trader | 1,521 Posts
EU M5, FIFO quick snipe trade on pullback from short term resistance 1.06500 +13 (10 lots +1.3) could have held a little longer ( only held for approx. 1 minute) as profit taking pullback from run up. I love sniping these quick MM momentum trades as usually very predictable for quick pips..............
Thank you cigarguy for nice explanation !
- #3,152
- Nov 23, 2015 11:52pm Nov 23, 2015 11:52pm
- Joined Jul 2011 | Status: Trader | 1,521 Posts
{quote} Update AUDNZD Still opened...I put SL Today will be news and I do not want to risk
- #3,159
- Nov 25, 2015 5:31pm Nov 25, 2015 5:31pm
- Joined Jul 2011 | Status: Trader | 1,521 Posts
I opened short USDCHF. I put SL and TP
- #3,160
- Nov 27, 2015 5:36am Nov 27, 2015 5:36am
- Joined Jul 2011 | Status: Trader | 1,521 Posts
I opened short USDCHF. I put SL and TP
