Scalping with Alpha-Bet

jack

Administrator
Staff member
Alpha-Bet said:
Charts... you know I'm challenged when it comes to aspects regarding tech stuff... ;)
All entries are verifiable via time stamp so anyone following can look back in time.

Will rework this thread.....
Pff.. no need to change on my account. :p

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I'm liking the reversal that AUD/USD has made.. moved down hard, then moved back up just as hard.. shows there's buying interest despite the dip.

I had some scalps short on AUD last session, but I didn't capture nearly enough out of them, left so much on the table.

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You trade USD/JPY too? On a 5m chart, that pair has been good to me. Very nice for scalping in the direction of short term moves. :D How do you trade it?
 

Alpha-Bet

Well-Known Member
Jack said:
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I'm liking the reversal that AUD/USD has made.. moved down hard, then moved back up just as hard.. shows there's buying interest despite the dip.

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Yes, price moved down from overnight .93435 (short term 576 fib) .
Looking to retrace that big black candle from 19th of this month... we could tag.9430's..
 

Alpha-Bet

Well-Known Member
Jack said:
You trade USD/JPY too? On a 5m chart, that pair has been good to me. Very nice for scalping in the direction of short term moves. :D How do you trade it?
Short term price action scalp on 1 minute.
Longer term via 1 hour chart.

Really liking Yen action of late.
 

Alpha-Bet

Well-Known Member
Would the "big boys" just blow the roof on this AUD so I can get set for short.

Always remember we are price takers..... ;)
 

jack

Administrator
Staff member
Alpha-Bet said:
Frigging 100 pip range...

Someone should start a scalp journal on this site....
Your stop is at 0.9200, is there any conditions in the market, or price action, that would change this to be tighter or cause you to punch out early?

How would price have to act to scare you?

How would price have to act to make you feel confident enough in the trade to move your stop higher or to break even?

Or do you like just setting one level, one price, one stop and letting time do it's thing regardless of what happens in the market?

(There's no wrong answer, I'm just asking about your thoughts.)
 

Alpha-Bet

Well-Known Member
Hindsight is 20/20.

The game is possibly over as regards my position (long) on this move. Pins and retracing. My stoppy may be hit.

Could've punched out and taken profit several times.

End of the day, this is a game of subtlety & conviction.
 

jack

Administrator
Staff member
Of course :)

Wasn't trying to influence you there on your trade, I was just curious if you dynamically adjust your risk and targets as the market itself shows it's cards.

Yeah, it's looking bearish now given the pin bars on daily and such, but anything can happen. Sometimes the best trades go against all the signals.
 

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