No Stress New York Session Open Forex Scalping

Today, there were a few nice forex scalping trades just as the NY Session opened. Logical Forex, once again, made me happy with some net pips.

 

*** EURUSD Market Structure ***

Market Structure, Decision Points

EURUSD MARKET STRUCTURE

 

Notice how price is hanging out just above the red Magnet Line. Price was clearly at a decision point – and worth zooming in to inspect things more closely.

 

*** EURUSD Scalp Enter ***

Magnet Line Dance

EURUSD SCALP ENTER

 

Let’s look at the Indicators:

  • Logical Forex Activity Lines – The lines are nearly boxes. They are not super-wide for sure, but going into the NY open was enough reason for me to look further.
  • 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 – Most recently, it is tracking along with price.
  • Logical Forex Bias – Pointing downwards.
  • Logical Forex Magnet Lines – Price did a slight dance around the first red Magnet Line, then started to dance around the second one. 
  • Logical Forex Watchdog – Barking to take a look.

Had I been sitting down at my computer, that first trade through the Magnet Line would have been nice to capture. Since I wasn’t actively watching the charts at that time watching the charts, the only focus I had was on what was happening now. Right now, price danced around the Magnet Line, went through, then did a nice pause.

I enter my SELL during the pause, prepared to exit quickly should price pop back up through the Magnet Line.

 

*** EURUSD Scalp Exit ***

Pull Back, Exit

EURUSD SCALP EXIT

 

Price continued down for a little while, before it came back up, where I exit for a nice several pips on a large lot-size trade.

Notice how price continued down afterwards. I don’t care about missed pips, because I got my pips safely and with little stress. For anyone who wants to hold on longer, go for it. For me, I am happy.

***

Happy Trading!

-Scott

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