The elements of this delicate 30 scalping strategy can be applied to almost any timeframe. If you use another time frame please make arrangements for stop loss levels and profit objectives.
This marketing strategy takes place approximately 2 to 4 times in a 24-hour period between the major currency pairs.
When choosing to search for a different timeframe, you need to do some tests to determine your level of comfort for profit targets and stop loss. everybody prefers to use a different type of stop loss and may change the result of this strategy. the detailed rules referred to in this article is about a 30-minute time frame only.
How to configure your graphs:
Usually I use the CCI shall be set at 14 in 30-minute chart.
In the window pain value using a 20 day EMA 4.1.General remarks will go long when the price is above the 20 day EMA and short when below. These are only some principles of basic structure and can be adapted according to market conditions, such as consolidation.
Also, use the fulcrum based on each activity value day. A generic method by using the fulcrum is to go long when price is above the fulcrum and short when low.
Please remember these are simply outline rules to apply some structure, don't forget to do some tests.
Set up:
I have registration occurs when a candle pattern filled as morning star, evening star or engulfing wax pattern.I must stress that I am just analyze a trade when I have a closed filled candle for any timeframe that I use.
For example,
If the value is through consolidation, will look for one of these wax patterns appear in support or resistance in the chart 30 minutes and I prefer value is below or above the 20 day EMA in accordance with the rules mentioned above; Now it is actually not always looks so when values are within the scope of consolidation.20 day EMA will often times move in a semi-straight-line by integrating which makes it difficult to get a reading.
If this happens just take one of these patterns candle when price has knocked my support or resistance which can determine when the stage of integration.
If there is a pattern candle I have mentioned above in the middle of this integration, I only like could be a fraudulent transaction.
The other post I get an entry to use this method when prices scalping is actually has broken off a consolidation range specifically I am looking for what is a wax confirmed closed discharge. After wings attend the retracement in support or resistance depending on which direction erupted Just returned value prices. a support or resistance, again I look for the wax pattern towards the confirmed release.
Using this method pullback retracement will also allow for additional confirmation forms such as Finding the support or resistance level with psychological levels, Fibonacci retracement levels and fulcrum. Highs and lows often extra old would have an impact.
Profit targets:
I'm looking for 20 to 25 pips basically aimed at profit to EUR/USD method can be used with only one lot as scaling out of trade shall not be required. look forward to comfortable for 25–35 pips on EUR/USD.
Stop loss levels is approximately one to one ratio, and equal to profit objectives but sometimes it is not always possible to values will behave accordingly and depending on market activity currently retests area loss of braking bound to happen specifically in Retests. support and resistance levels that often times it is very close to your stop loss.
For example, if the latter so low on a long trade would require more than 20 to 35 pips must pass on trade only if they are willing to accept a TOR 20–35 stop loss just to wait for another opportunity, I assure you it will be another and very often you can find a scalping trade such as the loss of braking I recommend in this article.
This is basically it. ..just practice it again and again.
The number one Tip:
I recommend only analyze and wait for the wax to close up the pattern you are looking for.
Also not predicting will continue any further than you planned. the target profit Simply take what you would like to have from the beginning of your transactions and follow your plan.
It is usually when we change our plan will end up losing.
0 comments:
Post a Comment