Here are three charts for this morning, showing the synchronicity of a continued move to the upside on the first chart - the 30 M. Changing to a 5 M chart (2nd chart) to check the 6 and 7 am signals. All MAs are in sync with the low strength in the ...

Scalping the EUR at the European open

EUR synchronicity has returned after the retracement on the EUR/USD yesterday. Is that a precursor to a retracement across all EUR pairs?

Scalping the EUR at the European open

A powerful down move can crash right through the pivot. See the chart above.

Scalping the EUR at the European open

Let's have a closer look at what happened with EUR/USD this morning. When the buy stop is not triggered on the pullback, we could see some pairs settle back down to a support level after the recent rally. Therefore be very cautious. In retrospect ...

Scalping the EUR at the European open

Watch and you will see it on EUR/USD

Scalping the EUR at the European open

It's actually GMT+1 British Summer time. 06:25 now.

Scalping the EUR at the European open

Good morning EUR scalpers. Here is the 30 M chart at 6 am (GMT). Watch for the pullback. See the lower chart for the outcome. image The 15 M chart at 08:40 shows how a pullback can go a long way down due to profit taking. This is the value of ...

Scalping the EUR at the European open

Hi Jamie, Sorry for the late reply. I only trade mornings and have other things to do during the day. In answer to your question, I use pivots as one of the trend measuring tools on the 30 M time frame where they are plotted for every day. Look at ...

Scalping the EUR at the European open

I think you are right. The big banks can manipulate these currencies and exploit the political sentiment. I am seriously considering opening a long position at the next pullback and just let it run until it spikes up before the banks pull the rug ...

Scalping the EUR at the European open

I agree. I have adjusted my trailing stops to 25/100 to see how useful it is under current conditions. Trailing stops are always tricky, and I think its better to move the stop up manually if you are sitting in front of the chart. But for those who ...

Scalping the EUR at the European open

Heads up you Guys. I have just taken a snap of the four pairs I traded this morning for the 8 am scalp. Now look at what happened over the course of the day. EUR is on a rally. Some say its because of the French presidential election. Whatever it ...

Scalping the EUR at the European open

When a major currency moves, it moves against all other currencies, albeit it with variable momentum. The choice of pairs to trade is largely dependant on personal experience of which ones yield the best profits. In my own personal experience the ...

Scalping the EUR at the European open

Here are two charts to illustrate price action on the EUR pairs this morning. The upper chart shows the major trend on the 30 M time frame with clear indicators for a continuing trend to the upside. NZD pairs came bottom of the list (in yellow ) ...

Scalping the EUR at the European open

I don't calculate the pivot points myself, but leave that to my software to do it automatically.

Scalping the EUR at the European open

Conflicting signals for the EUR this morning. Price gapped up over the weekend and began to retrace to fill the gap until 3 am when it showed its hammer bar. At 6:30 the currency strength list showed the EUR at the bottom, which is an indicator to ...

Scalping the EUR at the European open

If you follow the strategy strictly it will be profitable. Don't try to 'make' it work. If you follow the instructions it will work by itself. The stops and limits you set are up to you, and that comes from experience. The strength of the move will ...

Scalping the EUR at the European open

I set two targets, one at 50 pips and one at 100. When momentum stalls before the first 50 pip target I exit and let the other run on. If it looks like reversing I'll exit before it returns to break even. It all depends on momentum.

Scalping the EUR at the European open

I am using pro real time through the broker IG Index.

Scalping the EUR at the European open

Today none of the two essential criteria for the successful execution of this scalping strategy for the London open (8 am UK time) were met. Here are the EUR charts for today to illustrate the example. The 50 MAs are crossing the 100 and this ...

Scalping the EUR at the European open

No EUR trades today. None of the strategic criteria have been met and there is no synchronicity for EUR pairs.

Scalping the EUR at the European open