Short time frame forex strategy
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#19 (Ultra-Short Term Forex Trading Strategy) | Forex Strategies & Systems Revealed
A profitable strategy for short term trading!! The only tools we are going to use are resistance and support Lines, trendlines , EMA 10 and EMA The strategy step by step is the following: We also get an idea of the intraday trend. We try now to draw channels or trendlines. Again we are looking the trend. Here is the ''game''.
Forex 1 minute scalping strategy explained
We have obtain the short term-intraday trend from the previous timeframes. We are now looking for retracement moves. As we find them we are waiting for a strong candle. In our chart we can see that after a retracement, doesn't matter how big it is, the price go over the EMAs Due to our bearish trend we would place our short positios as soon as a strong bearish candle appears.
By the term ''strong'' i mean a candle whose body is bigger than the last bullish candle the more bullish candles it ''eat'' the better.
This is the 1st condition to put a Trade. The second is the strong bearish candle to cross downwards the EMAs. I mean to close below them. So pay attention on the 2 conditions that exists in that strategy.
In the Top of the graph we can see an incorrect entry bar. Although the price go lower it is not as safe as the way i described above. Trading is somtimes very simple. You do not need any indicator. The simpliest is the best!!!!
I am waiting your comment Thank you for reading The beginning of the trend is shown in the 4hour chart. You watch the very last candles because in the 15min chart these are the ones you are interested.
Then in the 1hour chart it is clearly. I did not understand your first question. Please make it more clear. Thank You for sharing this sir. I have been using this strategy for quite some time and i must say its impressive. I supplement the strategy with RSI set to default I add a 50 level to the 70 overbought and 30 oversold levels on the RSI.
My entry rules are: Enter short when EMA crossover occurs and RSI is below the 50 mark. Entry only on 15Min TF. This gives me an opportunity to add on to winning trades and maximize gains. However, i feel that i do not have a clear exit strategy for this and i end up losing some pips in the end. Can you please illustrate your exit strategy for the trades??
How much back should we start plotting the support and resistance level? Blog House Rules Moderators People Chat Chat History Press Referral Program Advertise. Stocks Forex Futures Indices Bitcoin Elliott Waves Harmonic Patterns Technical Analysis.
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