The Return to Forex Scalping

Well, it’s been a full two and a half weeks since I’ve last posted to the blog. Unfortunately, I’ve been dealing with some family health issues that required my full attention. I was out of town for a while, and then playing catch up upon my return.

So, it’s been a little while since I’ve done any forex scalping. The nice thing about scalping forex is that you can walk away from it – and then return to it – whenever you want. Ah, the freedom.

Ok, so here’s today’s trade…

 

*** EURUSD Market Structure ***

Structure, Decision Points

EURUSD MARKET STRUCTURE

 

As you can see, price was flirting around with the Blue Magnet Line, at a level where it had been doing so several times before. Which way would price go, I surely do not yet know.

 

*** EURUSD Scalp Enter ***

Dance, Magnet Line

EURUSD SCALP ENTER

 

Let’s look at the Indicators:

  • Logical Forex Activity Lines – Decent. Nothing telling me to stay away.
  • Logical Forex News Alert – None showing.
  • Logical Forex Flow Lines – Price consolidated a bit and then started its’ descent upward. The Spine is fully revealed. Lines are spaced out nicely.
  • Logical Forex Phase – Tracking along nicely with price. Nothing raising any red flags just yet.
  • Logical Forex Bias – Definitely pointing upwards.
  • Logical Forex Watchdog – Barking at me to take a look.
  • Logical Forex Magnet Lines – Notice the beautiful tight dance right beyond the Magnet Line. As price started to exceed that recent high, and I eyed the broker quote panel, it was clear that something was happening.

I hit the BUY button, ready to try the trade.

 

*** EURUSD Scalp Exit ***

Scalp, Exit

EURUSD SCALP EXIT

 

This trade definitely wasn’t a fast one. In fact, it was painfully slow. Often-times when the Activity Lines are not very wide, you need to accept this. I kept my finger on the SELL button – ready to get out of the trade at any second.

Because there was another Magnet Line in close proximity, my target exit was to see if price would be repelled or attracted. Price did go through, pulling back to the line. On the next push, it was unable to exceed where price had been, so as it pulled back on the broker quote panel – i took my exit – and my pips of profit – with me.

***

How is your scalping trading going? Please let me know by posting a comment. I’d love to hear from you.

Happy trading!

-Scott

 

 

 

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