Forex Scalp – February 2, 2012

February 2nd, 2012

Today was another nice trade before the actual open of the NY Session. It’s always nice STARTING the work day with some nice pips in my pocket.

It sure is comforting knowing how effectively I can trade the forex market with the Logical Forex Indicators. If you are still on the fence, hesitate no more – and get started now.

 

*** EURJPY Market Structure ***

Structure, Decision Points

EURJPY MARKET STRUCTURE

 

Price was hovering around the red Magnet Lines for a while. I zoomed in and here is what I saw…

 

*** EURJPY Scalp Enter ***

Magnet Line

EURJPY SCALP ENTER

 

Let’s look at the Indicators:

  • Logical Forex Activity Lines – Nice wide lines. Plenty of liquidity today.
  • Logical Forex News Alert – No news showing.
  • Logical Forex Flow Lines – The Flow Lines are coming out of consolidation, and separating nicely. Everything is the same color. The black Spine is fully revealed.
  • Logical Forex Phase – Tracking along nicely with price. Slight indications of possible divergence, but nothing that concerns me too much.
  • Logical Forex Bias – Pointing downwards.
  • Logical Forex Magnet Lines – Price is starting to dance around the double Magnet Line.
  • Logical Forex Watchdog – Barking to take a look.

As you can see, price went through the Magnet Line, and then did a tight pullback direct to the Magnet Line (just the way I like it). As soon as price started to go down (as was evidenced by the broker quote panel), I boldly hit the SELL button – ready to try the trade.

 

*** EURJPY Scalp Exit ***

Pullback

EURJPY SCALP EXIT

 

Price continued downwards. My first exit possibility was when it stalled – represented by the green diamond. The second exit option, and the one that I did take, was when price didn’t just hesitate but in fact pulled back a bit, represented by the green up arrow.

 

***

I am taking a long weekend trip with my wife, so I will be absent until early next week.

Happy Trading!

-Scott

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Forex Scalp – February 1, 2012

February 1st, 2012

I sure do love trading forex with the Logical Forex Indicators. It makes trading fun, and stress-free.

Today, it was the EURJPY that caught my eye.

 

*** EURJPY Market Structure ***

Decision Point

EURJPY MARKET STRUCTURE

 

Zooming out to check market structure, it was clear that price was stuck in a range for the last few hours. Price was certainly going to go one way or another (duh!) – but, which way?

Once price started to approach the Blue Magnet Line, it was time to zoom in a bit and take a look.

 

*** EURJPY Scalp Enter ***

Dance, Magnet Lines

EURJPY SCALP ENTER

 

Let’s look at the Indicators:

  • Logical Forex Activity Lines – Nice boxes. Plenty of liquidity today.
  • Logical Forex News Alert – No news showing.
  • Logical Forex Flow Lines – The Flow Lines are separating nicely. Everything is the same color. The black Spine is fully revealed. It’s like a spring waiting to release its’ energy.
  • Logical Forex Phase – Tracking along very nicely with price. No indications of divergence.
  • Logical Forex Bias – Pointing upwards.
  • Logical Forex Magnet Lines – Price is starting to dance around the Magnet Line.
  • Logical Forex Watchdog – Barking to take a look.

As price went through the Magnet Line, notice that I didn’t enter right away. Why? Because there was no tight dance that I look for. I waited to see what price would do next. It pulled back. Good thing I didn’t enter then, huh?

So, I waited for price to push through that recent high. As soon as it did, I entered a BUY order (with plenty of lots). I should also point out that the broker quote panel was lighting up pretty nicely here, too.

 

*** EURJPY Scalp Exit ***

Exit

EURJPY SCALP EXIT

 

As price continued its rise, I was ready with the SELL button – to exit at any time. As soon as price slowed its’ rise, I exited. As you can see, price did fall back down shortly thereafter. Overall, this was a nice trade with little effort – and no stress. Just the way I like it.

***

Happy Trading!

-Scott

 

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Another Wonderful Forex Scalp

January 31st, 2012

I sat down at my computer a bit earlier than usual today. I had the urge to take a look at my charts.

This is what I saw…

 

*** EURUSD Market Structure ***

Decision Point, Structure

EURUSD MARKET STRUCTURE

 

Price was indeed hanging out at a very long and pronounced line of Magnet Lines. Worth taking a closer look? Absolutely!

 

*** EURUSD Scalp Enter ***

TightDance

EURUSD SCALP ENTER

 

Let’s look at the Indicators:

  • Logical Forex Activity Lines – Good, not great. Taking a trade here, especially this much before the NY Open, will likely mean the trade won’t be a quick in and out. Not everybody has come to play forex games just yet.
  • Logical Forex News Alert – No news showing.
  • Logical Forex Flow Lines – The Flow Lines are separated nicely. Everything is the same color. The black Spine is fully revealed.
  • Logical Forex Phase – Tracking along very nicely with price. No indications of divergence.
  • Logical Forex Bias – Starting to point downwards.
  • Logical Forex Magnet Lines – Price did a very nice, tight dance right on the Magnet Line.
  • Logical Forex Watchdog – Barking to take a look.

As price did its’ tight dance directly on the Magnet Line, I could have entered as price pierced through the Magnet Line. However, the broker quote panel wasn’t as active as I like to see. This also has to do with the lack of great liquidity at the moment. Had I entered, I would have quickly been -4 or so after spread/commissions. I did decide to wait for the pullback and then, as price exceeded its’ recent low, the broker quote panel became more active and I hit the SELL button.

 

*** EURUSD Scalp Exit ***

Pull back, Stall

EURUSD SCALP EXIT

 

As expected by the Activity Lines and time of day, this was not a fast trade at all. It did, however, have a consistent (albeit slow) descent. Once price started its’ pull back, it was time to hit the BUY button and walk away with my net pips.

 

***

 

What I am hoping to show you is how, in addition to just trading at market opens and closes, you can also trade Logical Forex at various times throughout the day or night. Sometimes you just need to be a bit more patient in (1) waiting for the ideal setups and (2) waiting for the trade to complete itself.

Happy Trading!

-Scott

 

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