Forex Scalping like Clockwork

Just like so many days, forex scalping with the Logical Forex Indicators is just so consistent and repetitive. It really is refreshing to learn something once, become very proficient at it, and then put it into practice whenever you choose to.

Here’s the trade that just occurred for me this morning.

 

*** EURJPY Market Structure ***

Symmetry, Structure

EURJPY MARKET STRUCTURE

 

It sure seems that I have been trading the EJ quite a lot lately. That’s really just because at the times I am checking my charts, I like what I am seeing better than the EU. In this particular instance, look at the symmetry that exists in price. You can see a very nice flow down over the last several hours, followed by the beginning of a climb upwards. I had no idea whether it would continue or not, but it sure was worth taking a closer look.

 

*** EURJPY Scalp Enter ***

Magnet Line, Momentum

EURJPY SCALP ENTER

 

Upon zooming in, this is what I saw. Price is coming out of some consolidation. What will happen next? Let’s see what the Indicators can tell us:

  • Logical Forex Activity Lines – As price nears the NY open, it begins to wake up. They are widening nicely. Definitely tradeable.
  • Logical Forex News Alert – No news showing.
  • Logical Forex Flow Lines – Most recently, price made its’ way down, then consolidated (notice the stacking yellow) for a while, before starting its move upwards. The Flow Lines are opening up nicely. The Spine is fully revealed.
  • Logical Forex Phase – Tracking along very nicely with price.
  • Logical Forex Bias – Pointing upwards.
  • Logical Forex Magnet Lines – Price went through the first Magnet Line, and is now contemplating going through the next one.
  • Logical Forex Watchdog– Yellow.

Given the long move down and the way that price went through the first blue Magnet Line, I did expect that if price pierced the next blue Magnet Line it would do so with momentum. This is exactly what happened.

I entered as soon as price pierced the line, fully ready to exit my trade should price come back through the Magnet Line. I should point out that the flashing broker quote panel was begging me to enter by the increased activity I was seeing.

 

*** EURJPY Scalp Exit ***

Momentum, Pull Back

EURJPY SCALP EXIT

 

As you can see, price went through the Magnet Line with much momentum. If you were watching your broker quote panel, you would have seen your P/L increase very quickly. It wasn’t until price started to hesitate and then come back down that I decided to exit.

 

***

Happy trading!

-Scott

Tags: , ,

2 Responses to “Forex Scalping like Clockwork”

Leave a Reply