Ninjatrader Journals

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forex scalping 6 8 2015

forex scalping in Franfurt opening 6 8 2015

Good morning everyone,GBPJPY was ranging in a very tide tube with 10 pips width.In session openings these consolidations deliver nice scalping opportunities

https://www.youtube.com/watch?v=2vBZ6aZpd4o&feature=youtu.be

goodmorning everyone check out this from Deutsche bankStay Long Pound Into Super Thursday - Deutsche Bank05 Aug 2015 17:12 EDTIn a note to clients, Deutsche Bank advsies clients to stay long pounds going into Thursday’s same-day release of the Bank of England policy decision, minutes and Inflation Report."Speculation is growing over a split vote on the policy decision. After the July minutes highlighted that ‘for a number of members...absent [Greece], the decision…was becoming more finely balanced,’ it is possible that more than the two previous hawks (Weale and McCafferty) dissent, with Forbes and Miles possible candidates," DB projects."Dissenters or not, risks are asymmetric as market pricing is still too dovish. Less than a 20% probability of a hike is priced for year-end (versus over 80% for the Fed) and the first hike is not fully discounted until May next year. Yet growth in the UK has been stronger than over the Atlantic and the economy is actually generating wage pressures, unlike the US," DB adds.


[09:38:55] Basil-kodikos says: Option expiries 10am NY cut today 6 AugustThu 6 Aug 2015 04:57:28 GMTAuthor: Mike PatersonAuthor: Mike PatersonUSDJPY 123.00 (USD 787m) 124.00 (825m) 124.70-75 (700m) 125.00 (907m)EURUSD 1.0800 (EUR 2.4bln) 1.0850 (1.1bln) 1.0950 (505m) 1.1000 (402m) 1.1050-55 (820m)GBPUSD 1.5615 (GBP 212m)USDCAD 1.3050 (USD 490m) 1.3150 (400m)AUDUSD 0.7300 (AUD 251m) 0.7350-60 (450m)NZDUSD 0.6550 (NZD 329m)[09:39:13] Basil-kodikos says: watching the consolidation in gbpjpy[09:45:36] Basil-kodikos says: entered in 194,97 in gbpjpy[09:47:25] Basil-kodikos says: 10 pip target filled rest on trailing[10:00:01] Basil-kodikos says: trailing stop filled

Lost at noon this long scalping in pound yen







CAUGHT A VERY NICE TRADE IN GBP JPY



[14:02:09] Basil-kodikos says: CLOSED 72 PIPS IN SECONDSAfter I lost the second scalp I reversed on the breakout of the range and took the final trade for gbpjpy today.

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forex scalping 10 8 2015

forex scalping in the European morning

Today we are in holidays so we took aÂ* quick scalp in gbpusd in theÂ* European morning.A short signal formed in our main chart so we were waiting a step back by 20 pips approximately.In the auxiliary chart a fake north breakout happened and then the price moved south. We wait for a short term support and then in a step back motion the price moved to the equilibrium line offering us a chance to enter with a limit order for short scalp by ten pips at least.The order ignited and shortly afterwards the ten pips achieved.It was so quick that the breakeven move of our third part order didn't happened.We did move our stop manually and the third part closed shortly afterwards by offering + pips.You can watch the whole move and the trade in the following video.https://www.youtube.com/watch?v=LZFBmUTWaQg

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forex scalping 11 8 2015

forex scalping 11 8 2015

Hello,We are in Paros for holidays so the rythms are more relaxed.Yesterday a nice scalping opportunity appeared in gbpjpy.A divergence in the main chart, a head and shoulders in the auxilliary chart, a short signal in the main chart.We gave some time to a pullback of 20 pips to the equilibrium of the auxiliary chart and placed the limit order. The trade lasted approximately 30 minutes and we took 31 pips in the three part order.

https://www.youtube.com/watch?v=Y0Pm31s4-GU

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forex scalping 14 8 2015

forex scalping 14 8 2015

Hello,Today I have record for you a one hour video of the most trending hour in the New York session.It contains two forex scalping trades in gbpjpy one long and one short.I haven't trade at all in the European session due to obligations and I sat i front of my computer approximately 30 minutes after DOW open.After screening gbpusd ,eurjpy and gbpjpy I have concluded that my best chances were in gbpjpy.GBPJPY formed a consolidation and I was waiting for a long breakout since I had a long signal.Breakout happened and waited for a retracement in the breakout point in order to go long.Price retraced and gave me an entry.After almost 25 minutes the first scalping target of ten pips achieved moved the stop loss to breakeven and I was waiting to see some momentum. Momentum never came , the price retreated and hit the stop loss for the third part.Having my eyes for another opportunity I have trapped eurjpy in case it would come back in the 55 area to take my limit order to go short but in vain.Then I spotted the divergence in gbpjpy and placed the limit order 2 pips below the support area.The limit order activated, gbpjpy made some attempts to go up again and then bam the short momentumÂ* came hit my scalping target ,trailing was activated and after a brief run to +26 pips returned and close this order too.In the mean while I have add some to the position and left the remaining in to breakeven.Enjoy the video.https://www.youtube.com/watch?v=ufqlTB2m5Io

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forex scalping 14 8 2015

Hello,
Today I have record for you a one hour video of the most trending hour in the New York session.
It contains two forex scalping trades in gbpjpy one long and one short.
I haven’t trade at all in the European session due to obligations and I sat i front of my computer approximately 30 minutes after DOW open.
After screening gbpusd ,eurjpy and gbpjpy I have concluded that my best chances were in gbpjpy.

GBPJPY formed a consolidation and I was waiting for a long breakout since I had a long signal.
Breakout happened and waited for a retracement in the breakout point in order to go long.
Price retraced and gave me an entry.
After almost 25 minutes the first scalping target of ten pips achieved moved the stop loss to breakeven and I was waiting to see some momentum.

Momentum never came , the price retreated and hit the stop loss for the third part.
Having my eyes for another opportunity I have trapped eurjpy in case it would come back in the 55 area to take my limit order to go short but in vain.
Then I spotted the divergence in gbpjpy and placed the limit order 2 pips below the support area.
The limit order activated, gbpjpy made some attempts to go up again and then bam the short momentumÂ* came hit my scalping target ,trailing was activated and after a brief run to +26 pips returned and close this order too.In the mean while I have add some to the position and left the remaining in to breakeven.

Enjoy the video.

https://www.youtube.com/watch?v=ufqlTB2m5Io

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forex scalping 18 8 2015 European session

forex scalping 18 8 2015 European session

Hello,Difficult day today.I have lost 2 scalps in the Frankfurt and London open so the third trade gave me the breakeven in eurjpy.Made a video for the third trade which took my losses back and some profit from my last runner part.

Enjoy

https://www.youtube.com/watch?v=NUYbbJV1Vu4

The battlefield of eurjpy


Here is also a tip from SOGEN concerning audusdAUD/USD: Weekly Hammer; EUR/USD: Persistence Within Triangle - SocGenAUD/USD has formed a weekly hammer near 0.72 which represents 76.4% retracement of 2008-2011 up move, notes SocGen."It is at the upper limit of a descending channel since May and is facing immediate resistance at 0.7450. With daily RSI breaching above a resistance trend, a recovery is likely," SocGen adds."A break above 0.7450 will mean a retest of recent lows at 0.7560/90 which remains pivotal for an extended rebound," SocGen argues.Turning to EUR/USD, SocGen notes that it has retraced after testing 34 week MA at 1.12."EUR/USD is forming a triangle after retracing from 1.1450/1.1536. Weekly RSI is below 50% graphical level which highlights persistence within triangle," SocGen adds."Triangle upper limit at 1.1385/1.14 should provide strong resistance to a recovery while 1.0865/1.08 decides if retest of 1.05/1.04 happens," SocGen projects.

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forex scalping 19 8 2015

Hello,

Market was very choppy in the morning and we remain idle.
American news offered some volatility and a big whipsaw in usdjpy.
We took a* scalp after the news in calm waters in eurjpy which hold the key support.

Currently 137.29 running into a few offers but demand into 137.00
Offers 137.60 137.80 138.00 138.30 138.50 138.85 139.00
Bids 137.20-25 137.00 136.80 136.50 136.00

https://www.youtube.com/watch?v=9InTh6StIms

the Three pairs we trade main charts today
EURJPY

http://forexraiders.com/blog/wp-content/uploads/2015/08/ej-300x271.png

GBPUSD
daily chart
The GBPUSD rallied yesterday after previous days brief rotation lower. We have been calling the GBPUSD long on pullbacks for a number of weeks now and we are still very bullish on this market. If you’re not already long, you can continue to look to be a buyer on any weakness whilst price is above that key support zone down between 1.5535 – 1.5465. We see the potential for price to break up and move higher in the coming weeks and re-test the highs up near 1.5920 area.

http://forexraiders.com/blog/wp-content/uploads/2015/08/gu-300x227.png

GBPJPY

http://forexraiders.com/blog/wp-content/uploads/2015/08/gj-300x251.png

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forex scalping the gbpusd 21 8 2015

forex scalping the gbpusd 21 8 2015

Low range. Little changedWhile the EURUSD moved higher. The USDJPY and USDCHF tumbled lower with high to low trading ranges that well exceeded the averages over the last 22 trading days, the GBPUSD traded in a 65 pips trading range (the average is 104 pips, and is just 9 pips higher from the close.The bullish is the pair has been able to stay above the 100 hour MA (blue line in the chart above). The bearish slant is the lack of momentum when the rest of the market was selling dollars quite freely. Also, the highs today at 1.5722 took out the August 18 high of 1.5716 by only a few pips. Where are the buyers.Despite that lack of momentum, the sellers are not exactly lighting the world on fire. As a result, I will defer to the bulls as those in control. Traders will keep that wary eye on failures above - just like they did today - but until the seller are able to push below the 100 hour MA and 200 hour MA (green line in the chart above), the selling is just corrective.We managed to take a scalp in the American session but this didn't develop in intraday trade

https://www.youtube.com/watch?v=zg6xOsu5uRU

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oops ...double post by mistake

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forex scalping technics

forex scalping technics-Seven steps to forex scalping success

Hello,

Today is Sunday so I have decided to make a seven part series videos which will talk about the most important forex scalping technics .

Sorry for my English but is not my mother language.

The first part is about your trading room setup.

The main and auxiliary computers.

The characteristics that your main pc must have.

Suggested setup for your main pc

I am not running after stupid updates of Microsoft.

Many brokers and banks stilluse windows xp because they are stable.

End of support ?So what if I don't use it for surfing and there is no email!

If your computer has only the platform, the operational system and the tools(eg excel) you use for trading there is no problem.

Even if you use it for surfing and you have nod32 security and malaware bytes again no problem.

The system is stable as long as you don't go to bad neighborhoods and you use it mainly for forex scalping.

Now lets see what your main "box" must have

Big high quality box with lots of fans and space for at least three hard disks(100-150 euros)

Main board and chips Intel the fastest and the best quality for windows XP Proffesional you can buy.

Low voltage power supply above medium quality (from 100 euros and above)

Graphic card with two monitor exits (from 100 euros and above)

4 gigs ram.

Hard disks.

Main disk SSD 120 gigs is a very good option.

Auxiliary mechanical hard disk between 1-2 terra for keeping your large files.

Backup disk mechanical for weekly cloning of your main disk equal or greater from your main disk. (I use Acronis for this procedure)

Keyboard mouse wired suggested brand Logitech or Microsoft

Stand alone mic and cheap speakers is all you need to communicate with Skype

Mouse pad gaming quality (I use mouse pad steel series, Google )

Two Monitors 22'' (I use lg)

What I propose for your notebook

I don't prefer the great brands. Long time to service response,high cost to upgrade and spare parts only from them.

I prefer an OEM notebook from the best service in town.

I custom order it with high quality components and I ensure that I have 24 hours repair guaranty.

Intel components, 4 gigs, SSD disk.

After the initial setup and program platform setups, settings I move the SSD disk to my main and I perform the clone procedure to another disk so whatever happens in the notebook hard disk I have a ready one setup hard disk to start from.

Finally I use synergy in both main and notebook.

A multifunction printer scanner copier fax suggested brand HP ,INK JET

A UPS to protect your equipment from power interruptions ,your router must be plugged there also so in case of interruption to have internet and computers on to handle your positions.Batteries must be changed in UPS every 2-3 years or you will not be protected.

These are the basics there are more software tools when I do this procedure in detail but if you perform the above you are in the correct way.

All this procedure I perform to my clients handheld through skype and teamvewer and it takes from 15 days to a month to setup all this and have them to become computer savvy in the whole procedure.

Lock your door ,close your telephone and you are ready for live trading.

If you have any questions feel free to ask.

http://forexraiders.com/img/panos%20system.jpg

forex scalping trading room setup
[YOUTUBE]LkQGB_-TywQ[/YOUTUBE]

https://www.youtube.com/watch?v=LkQGB_-TywQ

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forex scalping 24 8 2015

forex scalping conversion to intraday trade GBPJPY


Here is a respectable opinion about the yesterday huge volatility
enjoy:
“‘Yesterday we said about almost ignoring the tech for the price action but what do we do after the huge moves ?
There are three main stages to theseÂ* types of huge moves we saw.
What we do when they look like happening?
What we do while they’re happening?
What we do after they happen?
What do we do when they look like happening?
It’s advisable to pull ourselves out from the lower time frames and look at the higher ones. Forget the short term tech and look at the longer term stuff. They hold greater strengthÂ* and provide a lower risk way to trade outside of the intraday noise
Let’s take USDJPY and the fibs I highlighted yesterday
USDJPY daily chart
Any of those first three fibs were trad able. Of course having the guts to do it when the proverbial is hitting the fan is the key. Also, I don’t think there were many of us who thought we’d see such volatile moves anyway, so who’s going to stick an order in 300-500 pips below the market just in case we get a move like that?Â* The main point is that if you have the tech levels drawn up there’s no reason why you can’t trade them. You’ve reduced the noise and could get yourself into a very healthy trade
What do we do while they are happening?
This is the stage I highlighted yesterday with the Dow. Now we can come down to the lower time frames. Take a blank page and let the price action build the tech for you. Let it show you where the market is buying and selling and when you’ve built up a good enough picture you have your levels to trade. There’s no need to be a hero but you have your lower risk entry points, your levels to lean against. Trading doesn’t get much more live than watching a 5 or 10 minute chart and deciphering the price action where moves are much bigger than normal
What do we do after?
Can we get back to normal? That’s what we need to look for. The normal intraday/short term tech may have been blown out of the water but now it’s time to see how much of it reasserts itself
1.1450 was level I was looking at in EURUSD yesterday just before it all kicked off. Today we tested it and bounced over 50 pips, then held it for a while before breaking. We’ve now seen yesterday’s low support taken out and become resistance
Slowly the short term tech comes back into play. Plenty of caution is still needed but we can start to move back to trading normally as the dust settles
Reacting to markets is all part of trading but once again, having some simple rules can make it the difference between feeling like you’re in the middle of a tornado and being in control””
A simple rule you can remember is that after great volatility ranging follows until the dust is settled.
We lost a trade in London today but we have took our losses back and some profit in a scalping conversion to intraday trade 30 minutes before DOW open.

GBPJPY from London open to close



GBPUSD today with paying signal



EURJPY moved parallel to gbpjpy and paid nice

[YOUTUBE]QS8EuLw3niU[/YOUTUBE]

https://www.youtube.com/watch?v=QS8EuLw3niU

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forex scalping to intraday 25 8 2015

forex scalping conversion to intraday trade GBPJPY

Here is a respectable opinion about the yesterday huge volatility
enjoy:

"'Yesterday we said about almost ignoring the tech for the price action but what do we do after the huge moves ?

There are three main stages to these types of huge moves we saw.

What we do when they look like happening?
What we do while they're happening?
What we do after they happen?

What do we do when they look like happening?

It's advisable to pull ourselves out from the lower time frames and look at the higher ones. Forget the short term tech and look at the longer term stuff. They hold greater strength and provide a lower risk way to trade outside of the intraday noise

Let's take USDJPY and the fibs I highlighted yesterday

USDJPY daily chart

Any of those first three fibs were trad able. Of course having the guts to do it when the proverbial is hitting the fan is the key. Also, I don't think there were many of us who thought we'd see such volatile moves anyway, so who's going to stick an order in 300-500 pips below the market just in case we get a move like that? The main point is that if you have the tech levels drawn up there's no reason why you can't trade them. You've reduced the noise and could get yourself into a very healthy trade

What do we do while they are happening?

This is the stage I highlighted yesterday with the Dow. Now we can come down to the lower time frames. Take a blank page and let the price action build the tech for you. Let it show you where the market is buying and selling and when you've built up a good enough picture you have your levels to trade. There's no need to be a hero but you have your lower risk entry points, your levels to lean against. Trading doesn't get much more live than watching a 5 or 10 minute chart and deciphering the price action where moves are much bigger than normal

What do we do after?

Can we get back to normal? That's what we need to look for. The normal intraday/short term tech may have been blown out of the water but now it's time to see how much of it reasserts itself

1.1450 was level I was looking at in EURUSD yesterday just before it all kicked off. Today we tested it and bounced over 50 pips, then held it for a while before breaking. We've now seen yesterday's low support taken out and become resistance

Slowly the short term tech comes back into play. Plenty of caution is still needed but we can start to move back to trading normally as the dust settles

Reacting to markets is all part of trading but once again, having some simple rules can make it the difference between feeling like you're in the middle of a tornado and being in control""

A simple rule you can remember is that after great volatility ranging follows until the dust is settled.

We lost a trade in London today but we have took our losses back and some profit in a scalping conversion to intraday trade 30 minutes before DOW open.

GBPJPY from London open to close

forex scalping GBPUSD today with paying signal

forex scalping signal gbpusd

EURJPY moved parallel to gbpjpy and paid nice

forex scalping eurjpy 24 8 2015

[YOUTUBE]QS8EuLw3niU[/YOUTUBE]

https://www.youtube.com/watch?v=QS8EuLw3niU

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forex scalping consolidation and breakout 26 82015

forex scalping consolidation and breakout

What are the steps in forex scalping that we must consider in order to trade consolidations and breakouts or plain breakouts from triangles?

1)Identify the most suitable pair

Find a pair that have built strong support or resistance levels and watch them. Remember, the stronger the support or resistance, the better the outcome. Make sure you understand this when you locate pairs to watch.

This is what we did this morning with eurjpy.We had a short signal in our smoothed main chart but we waited the breakout to happen.

[YOUTUBE]T_XHy9HcvHo[/youtube]

https://www.youtube.com/watch?v=T_XHy9HcvHo

2)Wait For the Breakout

Finding a good pair does not mean a trade should be taken prematurely. Wait patiently for the pair to make its move. Patience Is A Traders Virtue.

3) Set a Reasonable target price

If you are going to take a trade, set an expectation of where it is going. If you dont, you wont know where to exit the trade. This can be done by calculating an average move that the pair makes or measuring the distance between support and resistance (especially when trading price patterns).

4)Allow the pair to Retest

This is the most critical step. When a pair breaks a resistance level, old resistance becomes new support. When a pair breaks a support level, old support becomes new resistance. In the majority of your trades, the pair will test the level it has broken after the first minutes. Prepare for it.

Thats what we did in gbpjpy in the DOW open when it retested a break in a trendline in our high timeframe chart.

[YOUTUBE]0TeYunPlxus[/youtube]

https://www.youtube.com/watch?v=0TeYunPlxus

5)Know When Your Trade/Pattern Has Failed

When the pair attempts to retest a prior support or resistance level and it breaks back through it, this is where a pattern or breakout has failed.That is a fakey.* It is imperative you take the loss at this point. Dont gamble with your losses.

6)Be Patient

This strategy requires plenty of patience. By following these steps, you will reduce emotion and be more objective about a trade.

7)Exit at Your Target

If you are not exiting the trade with a loss, then you are in the trade. You should remain in the trade until the pair* price reaches its objective, or your trailing stop is hit or* reach your time target without hitting your target price.

Conclusion

Breakout trading welcomes volatility. The volatility experienced after a breakout is likely to generate emotion because prices are moving quickly and in a volatile fashion. Using the steps covered today will help you define a trading plan that, when executed properly, can offer great returns and manageable risk.

The three pairs we watch and their signals today

GBPUSD



EURJPY



GBPJPY

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forex scalping 27 8 2015

forex scalping from ranging to breakout

Today I have made two videos with forex scalping.
The first one is about handling ranging conditions in gbpusd signal which appeared some time after the London open.

[YOUTUBE]5zDnY44GTJU[/YOUTUBE]

https://www.youtube.com/watch?v=5zDnY44GTJU

The second one is how I take the breakout from ranging conditions close theÂ* forex scalping target and convert it in intraday trade.

[YOUTUBE]jINauzhn0WY[/YOUTUBE]

https://www.youtube.com/watch?v=jINauzhn0WY

Two events helped the bears like me today.
a.Fresh USD bids hit the GBP/USD pair and pushed it to a session low of 1.5434 after Fed’s George, a well known dove, sounded less dovish.
Offered below Key fib level
The spot was quickly offered to daily lows once it broke below 1.5460 (61.8% of June rally). The USD bulls made a comeback today after the spot failed to sustain above 1.55 levels. The bearish pressure on the Sterling intensified after the upside breakout from the multi week range of 1.5460-1.5690 quickly failed as the spot made its way back in the range.
The focus now shifts to the second estimate of the US Q2 GDP, which is expected to show the economy expanded 3.2%, compared to the initial reading of 2.3%.
GBP/USD Technical Levels
The pair currently trades around 1.5440. The immediate support is seen at 1.5409 (38.2% of Apr-June rally), under which the spot could drop to 1.5369 (200-DMA). On the other hand, resistance is seen at 1.5468 (100-DMA) and 1.55 levels.
b.The GBP/USD pair dropped to a fresh session low of 1.5415 after the upward revision of US Q2 GDP pushed up 2-yr treasury yield indicating a rise in the rate hike bets.
GBP/USD at lowest since July 10
The spot breached the support at 1.5424 (Aug 7 low) to trade at its lowest since July 10. The upwardly revised GDP pushed the 2-year treasury yield to a session high of 0.707%. The yield has now erased entire losses witnessed in the recent bout of risk aversion.
Moreover, short-end yields represent rate hike bets. Consequently, an uptick in the 2-yr yield is leading to broad based USD strength. Meanwhile the drop in the US weekly jobless claims further added to the bullish tone on the USD.
GBP/USD Technical Levels
The spot is hovering near 1.5415 levels. The immediate support is seen at 1.5409 (38.2% of Apr-June rally), under which the spot could drop to 1.5369 (200-DMA). On the other hand, resistance is seen at 1.5468 (100-DMA) and 1.55 levels.
The three pairs I am watching daily
gbpusd

http://forexraiders.com/blog/wp-content/uploads/2015/08/forex-scalping-gbpusd-27-8-2015.png

gbpjpy

http://forexraiders.com/blog/wp-content/uploads/2015/08/forex-scalping-gbpjpy-27-8-2015.png

eurjpy

http://forexraiders.com/blog/wp-content/uploads/2015/08/forex-scalping-eurjpy-27-8-2015.png

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forex scalping 28 8 2015

forex scalping-ideal time duration for a scalping trade

Fridays the trade is weird ,ranging choppy and might hav3e a lot of surprises.

The two jpy pairs we are watching were not ideally so we concentrated in pound dollar during the European session.

Pound dollar gave a short signal and we waited with patience to take a breath backwards in order to enter.

Our entry was almost perfect two pips out from the maximum breath.

The forex scalping target achieved 6 minutes after the entry which is the ideal time for the first scalping target.Five to ten minutes for the first target is the ideal time duration for a forex scalping trade.

The higher time frame saw also a broken trendline and our entry was almost in the testing level.

The trade then converted in intraday and the trailing stop start locking profit.

The momentum was extremely good and before we count thirty minutes we were counting approx 60 pips.

A get out of trade divergence appeared but we were waiting a support to form in our trigger chart order to close the trade.

Then price pierced the spine of northern lights and set course in the median trendline were our trailing stop was.

Trailing stop then hit and we finished for our trading Friday with approx 40 pips for our intraday trade.

All was recorded in the video ,have a nice weekend


[YOUTUBE]7wPtH69PdpA[/YOUTUBE]

https://www.youtube.com/watch?v=7wPtH69PdpA

The three pairs we watch every day and their signals

GBPUSD


GBPJPY



EURJPY