Charts & Alerts

Scalping the EMini S&P Pre-FOMC

I thought I’d post this chart of a profitable scalping session this afternoon on the EMini S&P Futures.

We were heading into the FOMC announcement and price action was very slow and choppy, so I was looking for quick scalps and targets.

GBPUSD Supply and Pivot Area

Some analysts were calling the GBPUSD pair long, going into today’s UK news events. I’m going to show you why that was a bad idea, based purely on the technicals.

Gold Needn’t Mess With Your Mind

Many traders got confused by the whipsaw price action today on gold. It’s very easy for volatile price action to mess with a trader’s psychology, but from a supply and demand point of view, it was really quite simple to read. There were 3 major supply zones on the 15 min chart that were all followed by a very…

GBPUSD spike supply

Here’s one I entered on the GBPUSD pair at 1.6442. The level was a supply zone and the trade was taken a few minutes before the GBP Consumer Credit and Money Supply announcements. Profit was taken at 1.6610 at near-term support. Always happy with a good profit before the midday lull, so not too bothered if it goes…

USDCAD news spike

Friday’s CADUSD chart shows a regular occurrence. This spike happened during Canadian GDP news. Buyers who had their stoplosses below the prior swing low were taken out. At the same time, breakout traders would have attempted to sell the break of support at the red line. However price quickly returned leaving those traders trapped:   So…

Aussie 4hr short

Here’s a trade I originally posted on Twitter. It’s a short on the AUDUSD pair which had made a 2nd return to supply. The trade raises a very important point… whether to enter at a level with no confirmation, or to wait for some kind of price action such as a pinbar? As you can see,…