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

This is the 1h eurusd chart.Price is still hanging around below resistance/supply area and is not showing any momentum to the downside im looking for price to break below the upwards sloping tl and will look for an short signal after the break and if it breaks I will look for an break out pullback to enter short , the break have to be with momentum and the pullback have to be with slower momentum then the break.
​another option to enter short is for price to go higher again to resistance (last months high) slower then the previous move down this option is with smaller risk and SL have to be set to breake even when first target is reached TP1 can be set at the TL,and if price breaks below the TL with momentum then we can keep the trade open and if it stalls we can exit the seconde portion of the trade.

This is probably going to be my last post on this thread ever. I will continue to check in regularly, and if/when I do check in, if there is spam, I will put those on ignore.

This thread started as a journey to become a more aggressive scalper and trade in/out more frequently. Although I now I believe I have more confidence in doing that and have learned about EUR/USD algo price levels (thank you KzX),and have made a couple of FF "buddies" (KzX, Sakisf), in the end, the most important lesson I've confirmed is to focus/refocus on my strengths.

Going back the last few months, I've realized that my 2 to 3 day swing analysis is more profitable for me than trying to maximize every swing and possible pip, and that trying to maximize every swing, it causes me to whipsaw profits many times and increase losses. However, I've learned when not to get into a scalp and the best possible entry areas for a scalp which is critical info.

As stated before many times, in my life there are less than 5 to 10 people that I've met/known of personally that can effectively and purely scalp the markets day in and day out and eek a great living/lifestyle from it every year (KzX is one of them).

This process of trying to become a "better scalper" however, intensified my search and modification of new/existing indies. Many know here that I am not a fan of Stoch, RSI, CCI and most out of box oscillators (used to use them 20 years ago). Because of this, I've come up with variations of volatility indies that I've never really cared for either until now, suffice to say, I am very happy with them as they are helping my manual swing/scalp trading immensely.

Lastly, or recently I also found a simple MA vs price oscillator (with a standard published formula) and modified the formula a bit to come up with something that would help prevent whipping as much and help me hold on to potentially profitable trades, and stay out of entering against trends (without looking at swing levels). It doesn't pick tops and bottoms, but it helps keep me in trades and keep me out of trades.

The last indi mentioned I am attaching here as a way to give back to the thread. It is called PPO and is a mod of an existing indi called PPO. It is meant to be used with longer than 10 bar or 20 bar smoothing periods. It's not for scalping every 5 or 10p move, but for trying to get 10/20/30 out of 20/40/60p moves. A pic of the indi is below, the red and green oscillator on the bottom. You can adjust the smoothing (try longer smoothing periods on 1mn and 5mn charts). The .ex file is also below (sorry no mql file to post). The formula for PPO can be found online, I used the version that divides by 100 and modified the prices and type of some of the MAs than what the formula uses, and modified the way it usually displays. Sorry can't reveal the formula, although it was a simple mod, it took weeks for me to find something that I was happy with.

This is the final comment of this thread for me and the most core lesson of trading. You have to find ways to trade that you are happy with. Not what works for others and attempt to make them work for you, because they may not work for you so easily, instead you have to find what works for you and be willing to change with it as it changes.

Hi,
If this thread is going to be wrapped up, i would like to express my gratitude to Pipologist, KzX and Sakisf and others who shared their methods and strategies here.. i tried and learnt a lot from them.. at least i hope i did.. Thank you guys.. Have a nice day..

Not wrapped up. Hope it continues. I'm just too busy to post and maintain and reply. It's fun to post, but ultimately costs time and time is money.

There will be others who come in. Just hope it doesn't go to rags and instead keeps lively discussion, and stays educational and a "community" and not a spam board, or simply a "look at my trade I made" thread.

i sure hope it continues too.. i still have a lot to learn and i have to give back too.. gonna take a lot of time for that though.. Wish u best in life, Pipologist..

Hey you too, you'll see me around FF, just not on this thread as much.

It's always good if you finally find where your strength is. I found out that I am much better at indices (sp500 & dow, not dax which I was trading mostly) and not currencies, my scalping technique works better there (with some help from a few posters in carpe diem thread) and I am more reckless in EU & the rest. So I took the plunge and switched to futures - didn't like the cfd spread spikes & price spikes of the brokers I am with now. So far it's treating me nice. I am definitely not a swing trading person as the most I can hold a position is 10-15m. And I don't look into making home runs nor live from speculation, so the thrill of scalping - one day up one day down - is closer to my personality. Just no more FX for some period - thus my reduced posting here.

I am happy to hear that you found your way, I hope it's gonna work for you long term. It was fun exchanging thoughts with you here.
If you need anything, PM me anytime you like.
Aparat from I was on the road last few days, I also got tired posting on forum. Maybe I'll drop something from time to time. I don't like taking without giving attitude. Maybe I'll create something private somwhere else.

As for EU intra, 05-35-65, very clear, extensions as usual.

Mid term, recent bearish wolfie worked like a charm.

Currently two scenarios:
1. Drop to 1.03 - 1.11 has not been reached, we could have started wave 5
2. Upward continuation after 50% of that big fat mother candle holds

'Fundies' support scenario 1, FED finally did it, after 10 years, whole world waited for an earthquake and...? The reaction was/is NFP alike...
Don't get cought with your pants down.

We're in strong decision zone now - 1.08.

[Edit]

and a pic:

Morning
London open selling: Eurusd at 1.0.862 target 1.0822
Eurjpy at 131.72 target 130.52

Alternatively buying: Eurusd at 1.0883 target 1.0920
Eurjpy at 131.93 target 132.50

Placing stop on Eurjpy at 95

Sold Eurusd at 1.0862, placing stop at b/e 1.0862

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