forex scalping 5 8 2015

forex scalping 5 8 2015

Today I was away from the office and the morning trades wasn’t well with ninjatrader free license.

possible scalp in gbpusd short
[10:09:11] Basil-kodikos says: goodmorning everyone
[10:10:48] Basil-kodikos says: Today I am taking the orders on sim and execute in mbtrading manually with free ninjatrader license,
[10:12:49] Basil-kodikos says: shorted in 1.5560 and I have very small stop loss
[10:13:27] Basil-kodikos says: out
[10:14:16] Basil-kodikos says: waiting for the next opportunity
[10:25:31] Basil-kodikos says: 1.5686 is the  a short  equilibrium for short, waiting for resistance to form in order to justify a new position again
[11:06:57] Basil-kodikos says: resistance formed in 89 were the stp is ,entered in 1.5577
[11:19:50] Basil-kodikos says: out in this too

Lost the first two trades, then recovered in the third one and finally in the afternoon when I came back in the office I took a nice scalping in gbpjpy.

gbpjpy was trending north all day and in the New York it retraced in the equilibrium.

There I saw a pattern in the auxiliary scalping chart with higher lows over support in oversold oscillator and approximately  50% fib in previous breakout candle .

This forex scalping technique works very nice in calm times outside news.

forex scalping

A nice trade you might want to wait for a retracement for entry is audnzd

 

4 Reasons To Buy AUD/NZD Targeting 1.15 – Deutsche Bank
05 Aug 2015 00:50 EDT

AUD/NZD offers a good buying opportunity targeting 1.15, plus low beta to uncertain Fed policy and Chinese growth prospects, advises Deutsche Bank. DB outlines 4 reasons behind this view.

1) Labour data. DB expects Australia’s Thursday’s labor market data to beat the market consensus, with job growth of 15k in July leaving the unemployment rate unchanged at 6.0%.

2) Rates re-pricing. While the RBA sounded less dovish at this week meeting, DB thinks market will start to re-price a 50bps of RBNZ easing at the next two meetings.

3) Commodity prices. Although iron ore remains under pressure, DB argues that it remains a two-way market.

4) Positioning. DB notes that while kiwi net shorts have been cut by 30% since early July, net shorts in AUD have increased by 130%, allowing for a meaningful squeeze.

swing trade