Archive for March, 2012

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An Entertaining EURUSD Forex Scalping Trade

Friday, March 30th, 2012

I can hardly believe Friday is here already. My did this week fly by!

Here’s today’s trade…

 

*** EURUSD Market Structure ***

Symmmetry

EURUSD MARKET STRUCTURE

 

You can see the ranges that Price had been trading in over the last many hours. Price most recently had been hoving around some Magnet Line areas. Very interesting.

Let’s zoom in for a closer look.

 

*** EURUSD Scalp Enter ***

Magnet Line Dance

EURUSD SCALP ENTER

 

Notice the several Red Magnet Lines in the above image. Notice how Price reacts around them?

What do the Indicators tell us?

  • Logical Forex Activity Lines – Box-like. Plenty of liquidity not long after the NY open.
  • Logical Forex News Alert – None showing.
  • Logical Forex Flow Lines – Price is flowing down – coming out of significant consolidation (notice the stacking yellow?). The Spine is revealing itself.
  • Logical Forex Phase – Tracking along nicely with Price.
  • Logical Forex Bias – Pointing downwards.
  • Logical Forex Magnet Lines – Price is approaching a Magnet Line. Watch the spot-on Dance that it does. What will happen next?
  • Logical Forex Watchdog– Barking yellow.

This was a most beautiful Dance around the Magnet Line. Notice how it danced, then hovered directly ON the Magnet Line, before taking a dive below? As this increased momentum is televised on my broker quote panel, it’s time to enter my SELL trade.

 

*** EURUSD Scalp Exit ***

Pull Back

EURUSD SCALP EXIT

 

Price continued its way down nicely for a short while. At the first clear pull-back, I exit the trade.

 

***

Forex Scalping for profits is such a great way to start off a Friday morning.

Happy Trading!

-Scott

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Nice EURUSD Forex Scalp

Wednesday, March 28th, 2012

I was presented with a nice scalp trade right before 9:00 AM Eastern Time.

Take a look at what I saw, and ask yourself if you would have taken this trade.

 

*** EURUSD Market Structure ***

EURUSD MARKET STRUCTURE

 

Price was making its’ way down – and was just approaching a Magnet Line.

Time to zoom in for a closer look.

 

*** EURUSD Scalp Enter ***

Magnet Line

EURUSD SCALP ENTER

 

So, what do the Indicators tell us?

  • Logical Forex Activity Lines – Box-like. Plenty of liquidity.
  • Logical Forex News Alert – News occurred about 30 minutes earlier.
  • Logical Forex Flow Lines – Price is flowing down. Price is not as smooth as I would like to see. Notice how it is a bit jittery. Definitely worth keeping an eye on this.
  • Logical Forex Phase – Tracking along nicely with Price. This is particularly important on a continuation trade. If there were signs of divergence here, it would be a strong reason to stand aside.
  • Logical Forex Bias – Still pointing downwards.
  • Logical Forex Magnet Lines – Price is approaching a Magnet Line.
  • Logical Forex Watchdog– Barking yellow.

Price went through the Magnet Line with little fanfare. As it went through again, it went through rather forcefully and this was clearly appreciated on the broker quote panel.

Time to enter a SELL trade.

 

*** EURUSD Scalp Exit ***

Pull Back

EURUSD SCALP EXIT

 

Price made its way down rather nicely over a period of a few minutes, with very little hesitation. Once Price started to pull back a bit, I decided to exit the trade.

***

If you haven’t already realized it, a lot of trades are very similar with the Logical Forex Scalping System. Isn’t consistency nice?

Happy Trading!

-Scott

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Forex Scalping Profits on EURUSD

Monday, March 26th, 2012

Last week was so busy with other commitments, I didn’t even open charts one time.

Upon opening charts first thing this morning, this is what I saw…

 

*** EURUSD Market Structure ***

Upward Progression

EURUSD MARKET STRUCTURE

 

Price was – clearly – making a very long upwards move. Right around the time of opening the charts, it was stuck near a Magnet Line.

Time to zoom in for a closer look.

 

*** EURUSD Scalp Enter ***

Magnet Line Dance

EURUSD SCALP ENTER

 

What do the Indicators tell us?

  • Logical Forex Activity Lines – Very wide. Plenty of liquidity.
  • Logical Forex News Alert – News occurred about 20 minutes earlier.
  • Logical Forex Flow Lines – Price had a large move upwards. More recently, it is coming out of some consolidation, and approaching a Magnet Line. It is now deciding whether to continue upwards, or start its descent down. The Flow Lines are opening up. The Spine is fully revealed. Like a spring, Price propels upwards.
  • Logical Forex Phase – Tracking along with Price. This is particularly important on a continuation trade. If there were signs of divergence here, it would be a strong reason to stand aside.
  • Logical Forex Bias – Still pointing upwards.
  • Logical Forex Magnet Lines – Price is approaching a Magnet Line. It made one attempt to go through. If it goes through again, with velocity, then I will enter the trade.
  • Logical Forex Watchdog– Barking solid yellow.

As Price attempted to go through the Magnet Line this time, there was velocity as shown on the broker quote panel. It was enough of a reason for me to enter with a BUY trade.

 

*** EURUSD Scalp Exit ***

Pull back

EURUSD SCALP EXIT

 

Price continued up for several pips before even the slightest hesitation. Given it was such a long move up initially, I was convinced that any further momentum upwards would likely continue a little longer. I was willing to risk a break-even trade but nothing more. After the slight hesitations, Price continued upwards for quite a bit longer. It wasn’t until the deeper pullback and the definite change in the broker quote panel that I exited my trade.

Overall, a nice trade with some healthy pips. I decided to hold on longer for the likelihood of more pips, but I wasn’t being risky about it. Worst-case, I wasn’t going to lose any more than a break-even. The upside, in this case, was very nice.

***

Even though I hadn’t traded in over a week, it’s nice to be able to step right back into it. This is possible when you pick a system and become consistently good at it. This, and more, is possible with the Logical Forex Trading System.

Happy Trading!

-Scott

 

 

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