Archive for the ‘Scalping Setups’ Category

Forex Scalping Before Work Begins

Thursday, June 28th, 2012

Well, it sure has been a while since I last posted. There have been a lot of things going on in my part of the world. Fortunately, things are settling down somewhat – which gives me some time to post.

I have a lot going on today, and little time to trade. But, I opened my charts before I had to hunker down on some work and saw something worth looking further into.

Take a look…

 

*** EURJPY Market Structure ***

Range

EURJPY MARKET STRUCTURE

 

Price had experienced a rather large move down. More recently, it was trading in a range, edging up very slowly over the last several hours. It had been spending quite a bit of time around the Blue Magnet Lines.

 

*** EURJPY Scalp Enter ***

Magnet Line Dance, Momentum, Breakout

EURJPY SCALP ENTER

 

Price was once again interacting with a Blue Magnet Line.

Let’s take a look at the Indicators…

  • Logical Forex Activity Lines – Starting to widen, as it gets closer to the U.S. open.
  • Logical Forex News Alert – None showing.
  • Logical Forex Flow Lines – Price is coming out of somewhat of a trading range. Most recently, you can see all the stacking yellow – showing Price consolidation. Then, the Flow Lines start to fan out. The Spine is almost fully revealed.
  • Logical Forex Phase –Tracking along nicely with Price.
  • Logical Forex Bias – Pointing up.
  • Logical Forex Magnet Lines – As you can see, Price is dancing with the Magnet Line. There is a very nice dance right on the Magnet Line (my favorite) and then Price accelerates through.
  • Logical Forex Watchdog– It is barking yellow just prior to the trade opportunity. Notice it is solid bright yellow at the time I will pull the trigger.

Time to enter a BUY trade just as Price starts its acceleration through the Magnet Line.

 

*** EURJPY Scalp Exit ***

Acceleration, pull back

EURJPY SCALP EXIT

 

Price climbs steadily, only hesitating briefly shortly after I enter. I choose to ride that out. At the time that Price actually pulls back, I exit with some nice profits. Some braver folks might have held on until Price crossed the Groove at 98.90, but that is definitely more aggressive trading. I choose to be happy with my pips collected and can move on with my day.

***

If you haven’t tried Logical Forex yet, what are you waiting for?

Happy Trading!

-Scott

 

Price Action + Magnet Lines + Patterns = Profits

Monday, June 11th, 2012

Hello!

It’s been a while… Scott has been doing most of the blog postings the past several months. He is really an incredible trader and has a special ability in communicating clearly. His posts are a joy to read. I also get joy from knowing that he, and many others, are continually benefiting from Logical Forex. That was my goal, long ago, when I made Logical Forex available to the public. I am constantly amazed at the success people have reported to me that they have achieved with Logical Forex… and they all have the same basic traits, and they all pretty much went through the same paths to become great Logical Forex traders. You can do the same thing.

We go into a lot of depth in the Quick Start videos and the other training materials on exactly how to trade Logical Forex: what to look for (patterns), how price action works (Flow Lines) and where decisions are being made by Big Money Traders (Magnet Lines). These are the primary things you need to be a consistently profitable Logical Forex Scalper and Trader. (Yes, you can make regular scalping trades, or hold longer for more of a “regular trading” approach, and we get into each of these approaches in our training.)

I’ve made a video for you that will show you how, on this particular day, just about every interaction of Price with a Logical Forex Magnet Line, was a reasonable trade. I also show you those cases where “things just don’t look right”… and we need to skip the trade.

This video is a light taste of what you get in our training materials. With the standard Logical Forex Indicators and training materials, you can be very successful. And, with the Logical Forex Premium videos, even more so. We have everything setup for you so that, no matter how serious you are about becoming a professional trader, we can help you. You can start at a level you are comfortable with, and continue moving forward with additional things that will make your trade selections even better… things like Market Cycles and Market Structure, which we cover in the Premium Videos. Again, you can trade very well from the standard training materials. Your success depends entirely on your commitment to yourself… and we’re here to help you become the trader you know you can be, and deserve.

This video runs about 20 minutes. I cover every Price interaction with a Magnet line during the European Session and the New York Session. There were a few trades I passed on, and one that didn’t work out (which I would not have normally traded, but others might) – and the rest of the examples were good for 3-10 pips or so. I’ll let you discover (when you view the video) how many of those trades happened, how the patterns looked, and what I used as “go” and “no-go” criteria. ;-)

Just imagine how much more is available in our training materials… and then, even better, imagine how when you apply what we share with you, how with some practice and commitment, you can make your scalping and trading life a lot of fun!

Please note: click the video to play it, and then click the [] in the right hand corner of the video to enlarge it.

 

 

See you again soon!

-Greg

 

Trading for Insomniacs

Saturday, May 19th, 2012

Sometimes, when I cannot fall asleep for whatever reason, it is nice to pull up some charts and take a look. Yesterday, when I pulled up my charts, I saw a pretty cool setup.

Take a look and see what you think.

 

*** EURUSD Market Structure ***

Dance

EURUSD MARKET STRUCTURE

 

Price had been making its way down for quite a while. I wonder whether it will continue.

 

*** EURUSD Scalp Enter ***

Magnet Line, Dance

EURUSD SCALP ENTER

 

Let’s see what the Indicators can tell me…

  • Logical Forex Activity Lines – Starting to widen, as it gets closer to the European open.
  • Logical Forex News Alert – None showing.
  • Logical Forex Flow Lines – Price had a very quick move down, as it went through one Magnet Line, and then danced around the second Magnet Line. As the Dance occurred, the Flow Lines fan out a bit and the Spine is now fully revealed.
  • Logical Forex Phase – It would appear that there is Divergence showing, but with such a fast move this Indicator is not revealing of much. As you likely already know, Indicators do tend to lag Price – particularly in a very fast move.
  • Logical Forex Bias – Pointing down.
  • Logical Forex Magnet Lines – As mentioned previously, there is a nice Dance of Price, in this case on the other side of the Magnet Line.
  • Logical Forex Watchdog– It is barking yellow just prior to the trade opportunity.

As momentum was clear to see on the Broker Quote Panel, I enter a SELL trade and see what happens.

 

*** EURUSD Scalp Exit ***

Pull back

EURUSD SCALP EXIT

 

Price continues down at a nice pace. By the time Price had pulled back a bit, I was already in profit by 5+ pips so I was plenty happy getting out of the trade.

 

***

The more you watch the charts, the more you will realize just how often such high-probability trades occur with the Logical Forex Indicators. Maybe it’s your turn to see if you can really compete against the big boys – using Logical Forex.

 

Happy Trading!

-Scott