Simple and effective scalping forex strategy. Easy to learn. It works in timeframes above 1H, so you don't have to dedicate every minute of your day to the chart. It also comes with FREE trading robot.
We will be looking for a clearly bullish or bearish candle, closing in the direction of trend. Pending order will be placed at its end. Price triggering the order will be the last confirmation step, to enter the scalping trade and get those 10 to 20 pips.
Used tools and indicators
Trend filter: Simple Exponential moving averages tandem.
Signal: Clearly bullish or bearish candle closing in the direction of trend. Size minimum of 30 pips in 1H chart of EURUSD. Scale in other time frames and currency pairs.
Pending stop orders: placed at the end of the signal candle.
Trailing stop: Based on last closed candle. Adjusted after each consecutive candle close. Extra deviation is applied (20 - 60 pips).
Take profit: 10 - 20 pips.
Rules
SELL
Get FREE MT4 Expert Advisor trading this forex strategy
EMA slow must trend above ema fast, which indicates downtrend.
We will be looking for strong bearish candle of minimum 30 pips. Signal will become more accurate and less frequent with growing candle size.
Pending sell stop order is placed ant signal candle low.
Trailing stop is placed, and adjusted according to last closed candle high, with extra deviation of 20 - 60 pips.
Take profit: 10 - 20 pips.
BUY
EMA slow must trend below ema fast, which indicates uptrend.
We will be looking for strong bullish candle of minimum 30 pips. Signal will become more accurate and less frequent with growing candle size.
Pending buy stop order is placed ant signal candle high.
Trailing stop is placed, and adjusted according to last closed candle low, with extra deviation of 20 - 60 pips.
Take profit: 10 - 20 pips.
