Intraday trades on EU and EJ - Tuesday 26th Feb 2013 - From European Open onwards
Morning Traders.
Late start for me this morning - but 2 trades so far both on EU from European Open -sell from 3052 and then just prior to half hr change exit sell at 3021 and scalp buy as shown on chart.
I am concentrating on the EU and EJ - but please I don't mind covering other major pairs - and all contributions etc are welcome for intraday forecasts.
I will try and update every 30 mins etc and just so you all know my main scalping method is targets of 7 -25+ pips all within 10 -30 mins with stops between 4 - 8 pips depending on the pair.
I will leave part stakes on if a scalp goes over 15 pips and I think it as legs to go further. This is like a "free trade" - ie say 35% of original stake left on with stop in profit of a few pips - whatever happens then - you are left with a profit and if it does then go say another 30 -60 pips - that part stake could make more money than the main scalp.
Have a good day - any questions welcome and GL
Still holding scalp buy for London Open at 3047 - but be careful of any spikes or quick reversals here - so you could take part profit etc
Regards
Peter
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Comment by Luke Sierpniak on February 26, 2013 at 8:05am -
Hey Peter, hope we don't miss all the fun today, GL
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Comment by Peter jcp on February 26, 2013 at 8:11am -
Hi Luke - Looks as though I have missed quite a lot already - still in EU scalp buy - but late on EJ - and that as been worth over 100 pips already ;-)) I can see 120 -20 area is a resistance and similar EU as 3070-80 as R. Time to take some profit again I reckon
Have a good day
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Comment by Peter jcp on February 26, 2013 at 8:31am
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For the half hr change at 8.30am UK time - 3.30am NY - both EU and EJ have managed to carry on up above interim R levels. Down to only £7 per pip on each pair - as taken out main stakes on way up as profit - as not expecting rise to be this great. Watching any pull backs for next 9 mins and will come out altogether if price falls back under R;'s which should now be supports
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Comment by kamdi eloji on February 26, 2013 at 8:36am
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hi peter looking at my charts on the eu i noticed that it has enough room to fall down to 3000s but i reckon it might get to 131573 before the fall what do you reckon might be very wrong?
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Comment by kamdi eloji on February 26, 2013 at 8:39am
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and oh yeah congrats nice one
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Comment by Peter jcp on February 26, 2013 at 8:44am
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Hi kamdi - well you could use limit or pending orders - as over 3100 - i think it will go higher - and as we know under 3017 it will try lower, Waiting for 9 mins to hr change and see what next clues might be. Eu trend as down bias from recent drops but - remember OS and so retraces might happen still of up to 50% of yesterday's drop even ?
Have a good day Kamdi
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Comment by Peter jcp on February 26, 2013 at 8:55am
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Watch 30 min rule on present EU high at 3095.
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Comment by Peter jcp on February 26, 2013 at 8:59am
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Hour change and EU fell 25 pips from its high - and in the same time EJ fell over 50 pips - 75 pips in total - managed to get 34 pips off them - so not too bad
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Comment by Peter jcp on February 26, 2013 at 9:08am
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EU and EJ have now less then 10 mins to breach their highs for a move up this hour . If they dont breach them - then a LH and that would be a clue for more scalp sells - as long as supports below then let go
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Comment by Luke Sierpniak on February 26, 2013 at 9:12am
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Went short @ 3081, will hold for 3000 or close for scalp pips
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