forex scalping intraday trading 3 9 2015
The day was difficult initially because the two first trades hit stop loss.
GBPUSD and GBPJPY had volatility during the night and they didn’t produced fresh signals in the London open.In addition we had pound news.
EURJPY on the contrary had a very narrow range during Tokyo and ranging for long hours.
The pair produced a fresh signal a few minutes before London open so I waited carefully for a retracement.
The retracement came and I enter the short trade.The minutes was passing and the pattern I call crocodile formed the bollingers in the trigger chart contracted and inner support and resistances formed .
The breakout was eminent and it would be a large one after so many hours of ranging.
The pair violated the resistance to the upside and due to high probability of breakout I went long to the fresh long signal loosing 5 pips in the first trade .I was taking also a counter trend trade to my higher time frame chart.Some minutes passed and the momentum wasn’t there.The pair started to fall slowly ,the pair pierced the support inside the range again and decided to try for third and last time short again .The procedure of the three trades took approx one and half hour.
Placed the stop loss ten pips above and closed the platform .
I have checked again in London close to find 162 pips in my intraday trade.Finally closed 158.
Thursday have statistically very good intraday trades and they are consider from the trending days of the week.
eurjpy trigger and main chart with marked trades on them and remarks
Main chart eurjpy
The other to pairs I watch daily gbpusd and gbpjpy