good morning everyone - this morning from 6am BST the market has been very simple and tradable
BUY YEN AND USD SELL NZD, EURO, GBP
EJ has been THE best pair of the 28x G8 pairs to scalp so far ....why ?
because my FXCORRELATOR strengthmeter based systems tell me that !
at this moment i am waiting for EJ to resell again...its slowing coming
no complaints from me then .....i will be finished soon with targets met
30-40 more pips selloff on EJ since my last post above .....it doesnt get easier than this guys
10:10 BST - 127.00 looks like a decent resistance point to start reselling EJ ....ive already taken 5-6 pip scalp off this but let it test with a retrace first if you are inexperienced
11.25 BST - ive been trying to resell EJ alongside buying Ucad last 30-60 mins ....took a EJ fast scalp just now from 126.96 to 126.90 ...hard work
11:32 BST another 126.96 was offered and taken by me ........now sold to 126.85 and falling sweet chart 3
11:46 ...deep retraces on EJ now so wait for next opportunities to resell....126.88 is next test point
13:19 90 minutes later and EJ NEVER GOT MORE THAN 3 PIPS ABOVE 126.88 SO FAR .....just keep hitting the resells .......yen and usd are still the bull plays ...gbp and euro the sells N
ok i need to pop out for a few hours.......my primary scalp pair today was EJ sells ....no complaints ....i have scalped somewhere like 15 times in that 7 hour period all the way down through the 80-90 pip sell range (chart 5) why ? because Yen was an alpha bull and Euro was an alpha bear ALL MORNING alpha meaning they were 1st or second lead currencies in the G8 in direction indicated its not rocket science guys ...ive been trading this for nearly 20 years..... before most Strengthmeter indicator experts were even born ....hahahaha BUY STRENGTH / SELL WEAKNESS of course the devil is in the detail ..........but thats another story
all changed in US session .....I see that Euro came back bull......yen and USD and CAD all went bear ......hard work though .......i would have waited for E/J to go above 127.13 to be safe and E/U to breach 1.1565 also to be safe ........only 20 pips ceiling on E/J and E/U from those levels ...so scalping would have been slow and painful ...........
Note - when you get big G8 reversal patterns from london vs NY session its harder to get back into the flow ....when the sessions just keep trending the same way its easy easy easy
never mind .....have a good day...i did this morning ! N
ps if you dont understand my comment about the 28 pairs in the G8 go to this post :-