I can hardly believe Friday is here already. My did this week fly by!
Here’s today’s trade…
*** 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 ***
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 ***
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.