AUDUSD Scalp for today 31st March, 2014

15 Minute Chart

• Long Trade (In overall bullish trend) - Expect bounce from Daily S1 + 50%+ 127.2
• Short trade (Against overall trend, but in trend of 15min - Expect rejection from Daily Pivot and 38.20%

Outlook Trade opportunity

Risk Level LOW

Tips -

NZDUSD Trade Setup Scalp For Today - 26th March, 2014

Hourly Chart

Outlook Trade opportunity

Risk Level Medium

Tips -

AUDUSD Scalp plan for 26th March, 2014

Outlook Trade opportunity

Risk Level Medium

Tips -

AUDUSD Potential Levels to look for bounce / Scalp

• There are two levels today which has good confluence for a bounce
• The first one is at the 38.2 / 50% / 161.8 confluence (however this is done already and I have scalped this for 15pips
• The Second one is a 200ext / 61.8% / Daily Pivot S1

Tips -

AUDUSD Example of Scalp during Asian Session 19th March, 2014

USDJPY Level to watch today for a possible scalp?

1 Hour Chart

Total of 3 x confluence / overlapping

Area to watch today is the Confluence levels of Weekly Pivot + fib 38.20 + Inverse of todays swing of 127.2 fib ext.

Outlook Trade opportunity

Risk Level LOW

Tips -

USDJPY Cypher scalp at support

Outlook Trade opportunity

Risk Level Medium to High

Tips -

AUDUSD Scalp Trade - Confirmed Entry with Noble setup

Note - This is a 1 Min chart (i Don't usually post any 1 minute chart, but i know a lot of newbie looks at a smaller tf wanting fast trades)

Update - Trade completed (approx 30min after trade)

• I've taken half postion off when it reached 1:1, then the rest to initial TP 

Tips -

AUDUSD Live aussie Scalp

AUDUSD Trade Setup for 12th March, 2014

Hourly Chart

• 38.2 from the Lows to high
• Few pips below is the overlapping Daily S1 Pivot and 78.6 of most recent swing 

Tips -

USDJPY Scalp Trade Setup for Monday 10th March, 2014

30min Chart

Outlook Trade opportunity

• - Monthly Pivot
• Weekly Pivot
• Daily Pivot
• 38.20 Fib Retrace
• 161.80 fib ext of initial retrace from Friday

* Scalp requires experience, - don't be greedy is all i can say

Tips -

Trading Strategy for Scalping exposed! 

HIGH PROBABILITY with  Low risk High Reward setups

• Fib Retrace levels
• Fib Ext Levels (also inverse)
• Daily / Weekly / Monthly Pivots
• Support and Resistance

This is a chart of the AUDUSD H1 chart - 

You will see that i have the following

• Two sets of Fibonacci retrace swing level
• Two sets of Fibonacci Extension swing level
• Daily Pivots shown only 
• Marked area of support and resistance

For details on how to identify swings for fib retrace - there are tons of info online, 

I will however explain the fib extension-

1st Swing is -  from the low to recent high

2nd swing is - consist of both, Previous Days trading range, and also yesterdays swing low to high

What does the chart tell me?

You will see that the 127.2 fib ext, which is overlapping exactly on the 61.8 retrace  - this to me is a very strong and together with previous support which now is resistance.  And whats above? there is a 78.6 from the smaller swing retrace as well as a daily pivot.  

How Should you trade this?

Two ways

1 - Risk takers - , Pending Order there - however stops will need to be wide, perhaps above the daily pivot or even at the the high of the smaller swing.

2 - Conservative Traders / Scalpers

Wait for price to get there, zoom into a 5 min or 15min chart, and look for confirmation entry.

Confirmation entry - there are few techniques, and I could not explain them all , however in this scenario a Shooting star candle was enough!

Below is a 5 min chart - where you see a Shooting star with the body closing in the previous candles body.

nb - bit risky because of the huge jump on the previous candle due to news releases, but you can see your risk is small and when you see that price stalled at the level we anticipate it will reverse.

Another way is what I learnt from Forexmentors Vic Noble Course.

- You will see that there was a buy setup on the AUDUSD after the whiplash action

Word of Waning

Guys, don't be greedy when trading, Don't go for the home run! Get your 1:1 or 1:2 (risk reward) and take your profits of the table. These setups occur everyday, !

Last words

I hope you guys learnt something here.  There are many more techniques and things to look out for, what I have shown is just the basics. :)

I am not the best on explaining things , but my passion is to provide good information to traders out there!

Cheers

GBPUSD - Scalp Trade setup at a pull back (Noble entry) 

EURUSD 15min Bat harmonic pattern

• Took the trade, and by the time i post this on the blog it was up 12 pips
• Took it because it was close to today's low, and hourly stoch was oversold

USDJPY 1hr chart Bearish Bat pattern

Bearish Bat on 15min (AUDJPY)

Hey Guys,