I discovered a system after looking at systems that use a lot of confusing indicators. I call all these indicators "dancing girls"
Here is my system, it works on any time frame, however, to scalp, I like 5 min charts.
Bring up a 5 min candlestick chart, then overlay your chart with a 3 EMA.
What to look for: Body of the candle OUTSIDE the 3 EMA.
The candle must be a reversal candle, & prefererably, a long wick (hammer) to go long, inverted hammer to go short.
Enter on close of next candle ( a Bull candle can turn into a bear candle) so, wait for the close.
Stop Loss is 10-15 pips away from the tip of the reversal candle.
Set a TP of 5 pips.
Trade with the Trend.
During the Asian session or Late US sessions, the market usually goes sideways, so you can trade dips & rallies.
Simple, 5 pips 4 * a day = 20 pips, = you are rich,
Bazza
Here is my system, it works on any time frame, however, to scalp, I like 5 min charts.
Bring up a 5 min candlestick chart, then overlay your chart with a 3 EMA.
What to look for: Body of the candle OUTSIDE the 3 EMA.
The candle must be a reversal candle, & prefererably, a long wick (hammer) to go long, inverted hammer to go short.
Enter on close of next candle ( a Bull candle can turn into a bear candle) so, wait for the close.
Stop Loss is 10-15 pips away from the tip of the reversal candle.
Set a TP of 5 pips.
Trade with the Trend.
During the Asian session or Late US sessions, the market usually goes sideways, so you can trade dips & rallies.
Simple, 5 pips 4 * a day = 20 pips, = you are rich,
Bazza
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