EU- London Open

Scalp buy on tick chart 8 mins before London Open "Gate" with another buy 2 mins after open. First one removed after 16 mins with 34 pips - second one left as swing with 8 pips locked in so daily pip target achieved within 20 mins
Resistances now at 2517 - 35 and 61

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Comment by Peter jcp on June 12, 2012 at 7:59am: Swing trade stopped out with 8 pips locked in .Meanwhile after next half hr change - scalp sell from 2517 - as shown - profit will be taken - as still in range with no break either way yet

Comment by Peter jcp on June 12, 2012 at 8:27am: Profits taken too early at 82 support- should have waited - but that's trading. So scalps on EU total 68 pips - swing trade - 8 pips.

Next stage - need to break under 2468 -48 and main supports at 2438-40 for lower. - Or if 70 holds then we would need back over 83 - 2500 and of course 2523. 3 mins to half hr so will wait for next trades now.

Comment by Peter jcp on June 12, 2012 at 8:34am

Comment by No money on June 12, 2012 at 8:43am: Thanks Peter. Regards

Comment by Peter jcp on June 12, 2012 at 9:40am: 2517 -20 seems to be the resistance for now .2522 was previous high so lower high and this last scalp sell as now taken me over 100 pips purely on 5 scalps on EU - forgetting 2 others on GU and AU.

The range as been too tight for any successful swing trade - my bias over 2480-82 would still be higher - but as already mentioned need 2522 and 35 and then 2561 to go for any run up.

Time for an half hour break and a review of all other pairs

Comment by Abok Patrick on June 12, 2012 at 10:09am: Hi Peter, nice trade and nice chart - congs! i appreciate your running commentary. thx

Comment by Abok Patrick on June 12, 2012 at 10:11am: Peter, do you think 1.2517 - 20 resistance will give we. its so strong that am watching fro down trend - sell. Advice thax

Comment by Peter jcp on June 12, 2012 at 10:16am: Hi Abok Patrick ( is it Abok or Patrick as christian name?) - Thanks for the comments and if it assists that's great. The EU wants to go higher so far this session but needs the present high of 2522 to go and then it will try the next 2 resistance areas above - approx 36 and 61.

I will scalp sell if 22 does not go and then we go under 2500 and 2480

Comment by ceasar on June 12, 2012 at 10:22am: Hi Peter, thank you for putting this up and your insight..:)

Comment by Peter jcp on June 12, 2012 at 10:34am: Hi Leon - what happened - it breached the main resistance - but did a "tease" or a small fade out to take scalpers out of trades. It should try again higher and I had 2535 as next resistance. However if we dont reach 27 within next 10 mins then - strenght might not be there

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