What is scalping or Intraday trading and How to scalp successfully

I would post an article (not a post), but a complete article itself in the coming days where I would try to let trader's know How to scalp currencies. Scalping or Swing Trading are nothing but only techniques that requires practice and experience and all those myths that traders have or wrong assumptions that come to mind would be cleared with article. I would post charts with example and If an entry could be taken or what are the facts that you need to point out when you consider taking scalping or swing trading opportunities.

Starting with Euro dollar which I think is a safest currency and enough to provide you opportunities and clear level for Intraday trading and has good range on a given day. Euro is best to scalp because it is great sign of global sentiment and moves randomly with the global improvements and setbacks and that is why I always prefer Euro and Pound for Intraday trading although I always believe that trading any currency require immense concentration and it keep testing your nerves when it moves volatile but still a chance arrives when it fullfill few assumptions which has to back up by your trading plan

to be continued..............

How to read a Currency Chart With Euro Dollar Base was eyed

Hi all,
Its been a busy week so far and I was looking for opportunity but None was provided but today ahead of FOMC I saw Euro and pound chart Which I post earlier, and Now again I come up again with something that is worth looking at.

Reading Price Action chart is not a science, but an art and an art to understand in advance when and why a particular area is going to behave and when You know in advance and price react the same way then entry become lot easier.

See here
FOMC Statement and Pound Updates

Supply and demand traders are somewhat stay ahead of what other thinks and Recent Euro dollar example tells you all the story. We saw a strong Euro breakout and also saw a strong demand level which I market in the chart. Demand and supply are more than you can think of but I always mark those which are really helpful. Now, the idea is demand and supply levels are there to be broken but we can really spot out those who are going to hold and chart below is a great example of that.

How demand level in Euro Holds out

Although I sight reversal in Euro When it was fail to break above the multi-week high again after long ranges, But still I need further clues to make a statement that Euro has continue its Bullish Momentum and further gains are possible, But I never make prediction till I got a strong evidence of what is about to happen in the coming days or weeks.

Euro is vastly trading currency globally because of 17 Nation currency has lot of trading partners globally and they need Euro to pay for Imports and that is why Euro's exchange rate is sometime so vital for other basket of currency and they will move randomly with Euro, But One should not bet on that and Should have well versed with knowledge and skills to trade Euro or Currency that are positively or negative correlated with the Euro.

Reading Currency Chart is the Important tool to have as Its not only about indicators lagging or advanced, it is about reading Institutions or strong holders movement because they are the one who will move the market up or down wherever they want and specially when you have such big risky event one must be completely sure of taking and entry prior to release because when you take entries with the market movement then most of the time you get trapped and price mostly reverse after strong one sided movement.

This is a special skill that one should have to survive and think of making Forex as full time employment or money making opportunity but reading charts is must to have in your belt to keep growing as a trader.

Stay Tuned For More.

gbp/usd Update Before FOMC Statement

Sterling Chart has been updated and I have seen Values that want to push the price higher and some strong new cash flows yesterday but it still capped around 1.5750-75 area and once they are cleared, I won't have any other doubt that price will surely test the high and go through very strongly.

Just waiting for another FOMC Fed minutes to disappoint Market as they seems in no hurries but BOE seems to be in quite a hurry and next BOE meeting would be very crucial but I prefer to see values on chart and keep things simple and straight and I would be watching strong test of base again around 1.5640-60 area and then would be looking to see If price break the recent high for more growth.

Stay in touch
Trade well

Euro dollar updates ? Is the rally substantial.

Hi, Traders
Is has been busy week since have post few trade setups and those which were post went fantastic and specially Where I have mentioned that reversal is on the cards even before the NFP data was released earlier this month.
I would be rather sitting on sidelines as Euro is very well bid up but rally from the highs is sending signals for a test of 1.1125 and below 1.1075 area But that's not important as Institutional Money is out of Market otherwise they would have went along with the break out and go beyond 1.1260 Barrier, but they give up earlier and took their profits and retailers are just moving the price in a range on shorter time frames.
How I spot Eur/usd Reversal when Last NFP data was released

Focus is now shift from risky events to expecting events and when that was happening when Fed start bond buying programme two years ago we see Euro rally a lot and the reason was simple that Situation in Euro Area was the same But the dollar demand was low because Fed did not want strong dollar as their focus was development and provide banks enough liquidity and safety that stock holders start feeling confidence in investing and feel much secure with their Investments in States.

That Bond buying Programm did wonderfully well and we see stock market is at the all time high's and Not even in US but through the world we have seen a rally since last two years. Now Time has come to provide more safety as Fed has create enough employment opportunities for its public and now we soon shall see rate liftoff and that is why September Meeting minutes are very important for Investors around the globe.

Trading levels of Gbp/usd l Price Action Analysis

Hi, Its quite a busy day with much awaited NFP which came just below expectation but as I mentioned in my previous post Eur/usd that Reversal in Euro could be on the cards,even though Unemployment Data came inline or more than expectation as long as 1.0870 level is protected and Now, I am waiting for Price Action to give me more clues of bullish momentum and I will update the Euro Chart If and When that happens.

This post is about Sterling or Pound dollar chart In which I am about to mentioned few crucial points of Price Action,First of them is that It traded in within a range since past few weeks and when that low was broken, price hurried up to go above the broken support.

Point of concern now is break above 1.5550 to give us strong indication that bullish momentum is again getting speed and we should look for long entries. But as I said we need a break above that level. To Sum up the things see the h4 chart with possible scenarios and How price unfolds beautifully as expected.

Price chart of Sterling

As You see in the chat price attack the line 1.5470 immediately after breaking the support gives us clue that price is ready to rise but we need bigger clues if price can break 1.5550 and we will get strong trading levels from 1.5470 to 1.5550 and then we try and look for possible long or short entry. But still too early to tell whether price action of gbp/usd is bullish or bearish.
Looking ahead 1.5610 is strong level and Price Action traders always keep in mind the possible targets when it hits the bullish momentum and possibly continue its way through and breach several levels to find its target.

If Price breaks the low of 1.5422 level then it would be a different story altogether as I would look for bearish entries if Price give us opportunity at higher levels to trade and short the pair after breaching the lows .
Price Action always tells us what to do and what not to do and how much you need to have patience and whether or not that patience is paid or leave you much more awaited for your next trade.

These are much important levels for Price action traders, As I mention in my previous posts that Supply and demand levels are the only true levels to trade rather than trusting support and resistance as we have seen so many times, Price breaks a support and rise with more powerful and break the resistance and decline with even more strong pace than rise. But Price Action is king and reading every time frame is very important to give you the entry and exit levels.

Stay tuned for more.
Trade Well
Happy Weekend