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Intraday Price Action Review 14 August (+12.5 pips or 2.19R)

Trading Overview

Good trading session with some solid price action set-ups.  The market was range bound for the session but was swinging through a range of about 20 pips so offered plenty of potential to scalp with at least 1:1 risk to reward ratio.

I was happy with the trades I took although I could have been a little more patient to begin the session, I ended up missing out on a few pips in the first trade as I manually exited as price approached previous highs instead of waiting to see what happened. I exited the last trade just as news was about to be released in the UK which turned out to be a good decision as price became choppy after the announcement.

Results Chart (click to enlarge)

EURUSD 14 AUG 2013

Results

  1. Sell: +4.8 pips + -0.7 commission = +4.1 pips
  2. Buy: -2.8 pips + -0.7 commission = -3.5 pips
  3. Sell: +6.1 pips + -0.7 commission = +5.4 pips
  4. Buy: +8.2 pips + -0.7 commission = +7.5 pips
  5. Buy: -0.3 pips + -0.7 commission = -1.0 pips

Total net result: +12.5 pips or +2.19 R

How did you see the market? I would love to hear your comments or any questions you have, please use the comments section at the bottom of this page.

About the Author
Hey I'm Aaron Needham, founder of Forex Alchemy, I have been trading Forex for 8+ years. My attitude towards life is one of self discovery, I am particularly passionate about working with traders to introduce a more heart centred way of being, to not resist or try to force the natural order of things and to re-define their definition of success, which comes in all guises.

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