A couple of random scalps

Here are a couple random scalps I took on the 15 minute candles when prices became overbought and oversold.

USD/CHF bought on the break, targeting a 25 pip move as shown by the higher trend line.

The Gold position already broke and hit my profit target. I won't be surprised to see a larger move in gold back to 995 and just as likely 986

CAD/CHF long?

I am really liking the consolidation on this pair right at the 50% channel area. I am watching for a bounce and a break above the short term resistance to run back up to the top resistance channel. If the pair doesn't break by morning I will tighten my entry further.

Maybe an entry at .9770 and a target of 1.0050. Stop below the trend line and tightened to below the most recent low after I make a new high.

When is the best time to trade forex?

I have been asked when is the best time to trade in the forex market. That is similar to asking when is the best time to exercise. Some people like to exercise in the morning and watch the sun rise, others like to go to the gym during the best meat market times and flex in the mirror. It comes down to preference and what you are trying to accomplish.

My preferred trading times are between 8am - 11am EST for scalping/intraday trading and around 5pm-8pm Eastern. The earlier times gives me the best volatility for the scalping and the later times gives me the quietest market to plan the longer term, multiple day trades (the price action from news is already shaken out).

This is just my view, what's yours?

Boy that looks swollen

The CAD/CHF has run from 92.75 up to 1.0050 in the past 3 weeks. The price looks very extended. The question is when is it coming back down and how far. If price breaks and closes (daily candle) below 1.0000 again, this is the confirmation to a short position back to 97.85. After a pull back like that, the swelling will have gone down enough to get back into bullish trades on this pair.

I am the ShadowTrader (fx)

www.shadowtrader.net

I've got a secret...I've been hiding...

To quote Mr Roboto, I I've got a secret...I've been hiding...Can you guess what it is? We will be revealing the secret next week. For those interested, can you guess what it is? and yes it is trading related.