While I no longer scalp much due to the time commitment scalping generally takes (particularly in instruments most effectively traded during the NY session), I used to scalp a great deal when I was in spot forex.
The simplest scalping technique I have come across and used exclusively was the "fingertrap method." Although I am not sure who is the originator of...
EVENT RISK!
*SCALP STRATEGY FOR EUR/USD BEFORE CONSUMER PRICE INDEX*
'IF LONG'
- needs to brake resistance at 1.1045 for a possible long
- T/P 1.805 ( Resistance Level )
- However will pull out if price action dictates consolidation or uncertainty.
- Watch if price stays within the turquoise consolidation zone
- Look for strong candlesticks
'IF SHORT'
-...
***DEMONSTRATION***
Description in picture.
Was a down trend, till break of rules, now going up trend.
Down trend = Lower Highs, Lower Lows.
Up-Trend = Higher Highs, Higher Lows.
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Just like any strategy out there, this can fail of course. But when it does fail you should only be losing -5pips and when you win, you can build up a whole days worth of a...
This Strategy is based on www.forexstrategiesresources.com
I get 70%+ Success rate when i do 1.5/1 Risk/Reward ratio. Therefore I do 10pip TP with 15 SL. To lock at-least 50% of the profit I also do Trialing stop when i hit 5pip profit. This works pretty well with the Mt4 Indicators I mentioned above so i'm using the below indicators with Tradingview so that I...
Enter trade when vol appears outside of 2 std deviations of the difference in last consecutive minute bars for a period of n minuts.
exit trade near the middle boll band.
The Dax has finally covered the gap and it is moving higher this morning back to normal levels seen before the fundamental news of the Scottish Referendum which would have a massive effect on the European and German market.
I do believe that this will cover the gap and then begin moving downwards.
I have set a very short SL and have a very healthy 2.38:1...
1D showing head and shoulders pattern
1H showing price action stuck below trendline
Trigger short trade based on 5M pin bar against trendline, stop loss above S/R level (neckline)
Purely a technical setup that I am testing. NOT TRADING IT. Its too easy to make tech setups look pretty. But looks count for nothing in this game, especially when their depth is less than 50 points. I will watch and see.
The USDCAD I expect to bounce off the strong line of support and have a nice LONG bounce day trade.
The STOCH is also strongly in the oversold position heading up.
The EURUSD is attempting at a new high in the recent days and I fully expect a retracement back to the 1.36210 level which will provide a nice shorting opportunity.
This I expect it to rise and possibly bounce through the tested resistance level and have it become a weak support line.
The Stoch is in overbought location and looks to be heading down which is good...
Bounce off the trend line support that is also a major support line.
The Stoch is hovering in Oversold and the MACD is starting to turn around after dropping down strong.
If you want to do a quick short scalp and then ride the LONG position for a few hours that should be possible.
Testing support for the second time and looks to be rebounding up and heading in the other direction for a nice scalp.
The Stoch is hovering around the oversold position suggestion a nice LONG scalping opportunity.
Bouncing off of support and rally's back up to a small resistance level.
Expecting a nice scalp movement up and STOCH is also oversold.
Will wait to get in until the bar is finished at 9:00 AM just to verify bounce.
Nice channel bounce back down for a decent day trade with decent profits.
Also STOCH is hovering in over bought territory suggestion a nice scalp down as well.
Blew through support 1 as the STOCH hovers around the oversold area. MACD is also heading strong down and it blew the current channel as well. I expect to drop to test next channel resistance.
