forex scalping the New York open
New York open was volatile today.We caught the gbpusd move south in attempt to hit 1,5600
closing everything at 16,00 GMT
Have a nice evening
Markets was slow and choppy today but we managed to take our daily bread and butter in gbpusd
kalimera everyone no signals this morning market is slow
[10:36:44] Basil-kodikos says: long signal in pound limit order 1,5600 buy
[11:11:41] Basil-kodikos says: entered 1,5603 in gbpusd
[11:24:51] Basil-kodikos says:
first target hit
[11:28:02] makis says: (cash) but a little dangerous , market is too choppy like yesterday .I think most traders went to the beach….
[11:28:42] Basil-kodikos says: follwing signals maki -10-15 pips nothing more
[11:29:36] Basil-kodikos says: always in trend pointing the chart nothing more
[11:30:00] Basil-kodikos says: boring but effective
[11:30:37] makis says: yes it seems that works!
[11:31:22] Basil-kodikos says: now entry is covered free trade just wait were the order will stop
[11:31:50] Basil-kodikos says: no guessing were i must close let ninjatrader to do the work sentiment out
[11:32:56] Basil-kodikos says: only some times were i see support and resistance formed in auxiliary chart I put trailing on the support or resistance to avoid stop out by a pip or tweo no more tweaking
[11:33:12] makis says: when the signal is formed price was at 1,5610 , limit order long -10 pips (with spread) 1,56?
[11:34:10] Basil-kodikos says: yes entered in 1.5603
[11:34:43] makis says: if we set limit buy 10 pips less maybe order will not execute…. or your entry was market?
[11:35:50] Basil-kodikos says: yes it may not execute but you are safe better safe than sorry
[11:36:22] makis says: (y)
[11:36:58] Basil-kodikos says: the tokyo session was narrow it has the characteristics of consolidation and breakout for many pips equal to the ranging length now we are +15
[11:37:25] Basil-kodikos says: tokyo session 23 pips
[11:38:33] Basil-kodikos says: trailing will offer good pips as long as we have momentum if it starts ranging the trade smells
[11:38:34] makis says: (y)
[11:39:03] makis says: bad smell!
[11:39:22] Basil-kodikos says: yep
[11:42:01] Basil-kodikos says: entered the trailing 1,5611 under 2 resistances if it moves under 11 we close the trade , because some people will short the median line ema 50 , lets see if bulls will prevail over bears
[11:44:44] Basil-kodikos says:
Today is an especially difficult day since we have FOMC.
Statistically these days are ranging and difficult to predict direction since everyone is waiting the FOMC to take direction.
We are starting early in the morning 30 minutes after Frankfurt open and we continue to scalp until London noon and then again in the New York open to see how we handle a difficult day.
Video with the European session
kalimera everyone possible scalps in gbpusd, eurjpy gbpjpy waiting for the best retracement
[09:34:09] Basil-kodikos says: all shorts
[09:42:30] Basil-kodikos says: 192,83 entered in gbpjpy
[09:45:50] Basil-kodikos says:
forex scalping software main and auxiliary chart
[10:04:05] Basil-kodikos says: entered short in ej with reduced position
[10:15:58] Basil-kodikos says: closed gbpjpy in breakeven and reversed long position now
[10:22:39] Basil-kodikos says: price action is choppy and ranging
[10:30:36] Basil-kodikos says: gbp news in 60 minutes
[10:37:19] Basil-kodikos says: gu goes south gj try to go north
[10:41:21] Basil-kodikos says: hitting the first 10 pip target in gbpjpy
[10:41:23] Basil-kodikos says:
[10:42:01] Basil-kodikos says: there is a falling trend line in gj it must break in order to go further north
[10:53:43] Basil-kodikos says: gj broke the trend line we are trailing now +12
[11:11:17] Basil-kodikos says: gbpjpy stopped out
[11:22:05] Basil-kodikos says: opposite signal formed in eurjpy setting stop loss in breakeven
[11:41:59] Basil-kodikos says: stop loss hit in eurjpy
[11:48:08] makis says: possible long ej tp1=136.92 r1&yhigh
[11:57:17] Basil-kodikos says: yep eurjpy is long now but i think it will retrace first to 55 area
[11:57:36] Basil-kodikos says: also there is a falling trendline in this
[12:02:36] makis says: Yes, sloss < 135.5
[14:05:42] Basil-kodikos says: entered long in eurjpy in retracement 136,68
[15:39:27] Basil-kodikos says: closing at breakeven +2 since opposite signal formed I have average the position to go green in this
[15:41:15] Basil-kodikos says:
[15:56:43] Basil-kodikos says: eurjpy consolidating preparing to move in the New York open ,it didn’t move for the day producing three ranging signals we are on the third short one
[16:12:21] Basil-kodikos says: closing scalping target
[16:13:45] Basil-kodikos says:
[16:20:11] Basil-kodikos says: eurjpy is breaking 50 trailing is +17
[16:20:42] Basil-kodikos says: today is a difficult day statistically FOMC days are ranging and difficult for forex scalping
[16:35:32] Basil-kodikos says: moved trailing stop one pip to be above the micro resistance in auxiliary micro chart
[16:37:09] Basil-kodikos says: formed support in 136,45
trailing in eurjpy stopped out +5
[17:47:11] Basil-kodikos says:
My skype username is basil.kodikos in case you want to ask something about the forex scalping strategy
My email is admin(at)forexraiders.com
Good morning everyone,
Today I have recorded in video all the morning European session since Frankfurt opening and the first forex scalping signal in GBPUSD till 10 min before the gbpusd news were I have closed all orders.
Goodmorning everyone ,possible short trade in gbpusd
[09:21:34] Basil-kodikos says:
[09:49:57] Basil-kodikos says: limit order to sell eurjpy in 136.74
[09:50:31] Basil-kodikos says: 11 minutes to London open
[09:51:11] Basil-kodikos says: first 10 pips in gbpusd closed
[09:51:19] Basil-kodikos says: eurjpy order filled
[09:53:18] Basil-kodikos says: gbpusd is trailing now
[09:58:15] Basil-kodikos says: target filled in eurjpy eurjpy trails now
[10:00:09] Basil-kodikos says: London open
[10:03:54] Basil-kodikos says: eurjpy trailing closed nice scalping profit
[10:10:51] Basil-kodikos says: gbpjpy gave signal in 193,20 limit order short in 192,37
[10:26:29] Basil-kodikos says: news in gbpusd 11.30
[10:36:06] Basil-kodikos says: gbpjpy 6 pips from limit order
[10:55:40] Basil-kodikos says: cancelled the gbpjpy because it moved far away and we are approaching news time for pound
[10:56:05] Basil-kodikos says: gbpusd still trails the morning forex scalp +32 for now
[10:56:56] Basil-kodikos says: eurjpy formed a triangle 7 pips distance from limit order
[10:58:06] Basil-kodikos says: increased the size of eurjpy order since I cancelled gbpjpy limit order
[10:59:37] Basil-kodikos says: one hour after Londo o0pen 30 minutes to gbpusd news closing all orders in 15 minutes
[11:01:32] Basil-kodikos says: +41 the trailing for pound now
[11:16:33] Basil-kodikos says:
[11:16:44] Basil-kodikos says:
[11:19:03] Basil-kodikos says: closing +41 pips
My skype username is basil.kodikos in case you want to ask something about the setup.
I have the whole dialogs for today scalping through the ranging London open to New York to saw you how I handle the ranging conditions and how I am handling the trending conditions.
We continue from were we stopped in the live trading room with hours of entering the limit orders conditions and detailed charts
[11:25:57] Basil-kodikos says: new signal in gj and the limit order
[11:25:59] Basil-kodikos says:
[11:28:14] Basil-kodikos says: this is counter trend trade with increased risk
[11:33:19] Basil-kodikos says: placing limit orders give you the time to schedule your trade with minimized risk
[11:35:40] Basil-kodikos says:
new possible trade long limit order in 15
[11:35:49] Basil-kodikos says: signal in 25
[11:43:23] Basil-kodikos says: I have missed gj so I am cancelling the limit order limit in 191,34 price 191,72 gu limit order still valid 1,5115 price in 1,5526
[12:18:00] Basil-kodikos says: limit order long gu is valid and entered
[12:22:03] Basil-kodikos says:
[12:44:32] Basil-kodikos says: entry short now
[12:46:04] Basil-kodikos says: new short entry in ranging gu this is the way we handle ranging conditions
[12:46:06] Basil-kodikos says:
[13:23:53] Basil-kodikos says: Closed at break even again plus spread because opposite signal long appeared again.We are long again, GBPUSD result this morning with all these breakeven trades and one profitable scalp in ranging conditions.
[13:50:37] Basil-kodikos says: we need a large move to finish this or an opposite signal
[13:58:09] Basil-kodikos says: third part stopped at breakeven now i am flat
[15:15:55] Basil-kodikos says: after all these hours of ranging we are accepting the large move of the day in New york open
[15:16:08] Basil-kodikos says: a triangle is formed
[15:30:09] Basil-kodikos says: new trade hit the scalping target
[15:31:40] Basil-kodikos says:
75 pips and trailing
So as you see the system goes well in ranging conditions scalping the small moves and then stops in breakeven.
In the great moves it scalps the first high probability pips and then trails the momentum.
You must focus on it is boring but pays well.
More details in forexraiders.com/blog
With Northern Lights Smoothed we have the ability to catch high probabilty setups in London open and in high volatility pairs with low spread.
I am pasting the dialogue from our inner trading room and the live signal we gave for gbpusd
[10:40:14] Basil-kodikos says: possible short scalp in gbpusd
[10:40:47] Basil-kodikos says: with the new NL smoothed charts
[10:52:42] Basil-kodikos says: Signals don’t repaint in the new method, you need only one chart to monitor
[10:56:51] Basil-kodikos says: http://www.forexrainbow.com/images/87732787542354298339.png
first target 10 pips for two parts achieved now we are trailing the third part
[10:58:54] Basil-kodikos says: Entry of the third part and spread are covered
[11:00:27] Basil-kodikos says: third part closed +2
[11:00:45] Basil-kodikos says: waiting for new signal now
Yesterday I had lost the trading day due to appointments and we had a very nice signals in gbpusd and in gbpjpy.
Took a small trade in gbpjpy today but it closed in breakeven because an opposite signal appeared.
London is open and we took the first scalp in eurjpy.First two parts of the order was hit in +10 and the rest is trailing
The entries are manual and the handling is automatic from ninjatrader.
Trailing eurjpy +28
50 pips target achieved, I will close the order in the 50 area.
The above method can be used with one chart only per pair outside news announcements.
The chart is not a time based chart.Settings,templates,work spaces are delivered in the one to one arranged meeting.
I believe that this must be the simplest method to make consistent money in the forex market.
The entries do not repaint
It is delivered personally orally one to one through teamviewer, skype and is licensed through ninjatrader life time.
Trading room setup is included to ensure that you will not build on sand jeopardizing live money.
If you have any questions you can send me a personal message.
Have a nice weekend
We are in the London open 22 7 2015
It is a big day for audusd and from the insider information section we know that it is bullish.
Our main forex scalping software chart gave bullish signal and we entered in the retracement
We took the first scalping target in +10 pips entry in 0,7408
We continue with the last part trailing
Third part was closed in breakeven +2
Same scalping trade in pound after the news I took the photo in the hit of first scalping target entry in 1,5822 . Third part stopped in the breakeven.
We are near the new York open and eurjpy moves offering a forex scalping opportunity, we have closed the scalping target in +10 pips entry in and continue trailing.
Northern Lights can help you scalp with great confidence in the high probability sessions of London and New York open.
As you see in the main forex scalping chart clear defined signials tell you to get ready for the trade.Then with our proprietary method of entry you can scalp the high probabilty forex scalping target and then leave the rest of the order for trailing or a specific target.
In this case was the bottom of the 00 batle for the gbpjpy.
GBP/USD: negative bias unchanged – Commerzbank
Tue, Jul 21 2015, 09:02 GMT
GBP/USD in red around 1.5550
GBP/USD drops to session lows at 1.5530
GBP/USD off highs, near 1.5575
The pair’s stance remains tilted to the bearish side, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.
“GBP/USD remained under pressure yesterday and sold off to the 55 day ma at 1.5550 – this adds weight to our view that the push up to 1.5674 was corrective only”.
“Therefore for now, our negative bias remains intact and we look for rallies to remain capped by 1.5700 and trigger a slide towards support at 1.5171, the June low and favour losses beyond here”.
“Initial target is the 200 day a at 1.5415 and 1.5332 the July low”.
Have a nice afternoon