forex trade calls 1 minute high frequency scalp video
Forex trade calls and Capital Management brings you a high frequency scalping system. I’ll be posting calls on my blogs regarding either economic fundamentals, forex scalps or forex swing trades. I will throw in some S&P trades as well. financialworldmarketsmart.blogspot.com forextradecalls.blogspot.com www.midwesterncapital.com
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www.forexmalibu.com – Tiger Time Lanes Trade Room Moderator and Fibonacci Grid Day Trader Sam Shakespeare was ON FIRE in todays live scalping session. He begins by jumping into a Long Eur/Jpy Trade that he quikly banks +10 pips in less than one minute! Shortly after he enters two simultaneous Long trades in Eur/Usd and Eur/Jpy. Again, he quickly takes these two trades into profit within 5 minutes, earning +11 on Eur/Jpy and on the Eur/Usd trade he nets +10 on half and +15 on the second half. He follows up by taking a -10 on Gbp/Usd (Cable), but finishes on a positive note with another Cable trade and one more on Eur/Usd. After all is said and done, Sam profits +40 pips!! …all within half an hour!
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30 minute scalping strategy puts pips in your pocket
The components of this 30 minute scalping strategy can be applied to almost any time frame. If you use it on another time frame please make adjustments for stop loss levels and profit targets.
This trading strategy takes place approximately 2 to 4 times in a 24 hour period between the major currency pairs.
When choosing to look for a different time frame you must do some testing to determine your comfort level for profit targets and stop loss. Each one of us prefers to use a different type of stop loss and it may change the outcome of this strategy. The details laid out in this article are for the 30 minute time frame only.
How to set up your charts:
I typically use the CCI set at 14 on the 30 minute chart.
In the price pain window I use a 20 day EMA. Generally I will go long when price is above the 20 day EMA and short when it is below. These are just some basic outline principles and can be adjusted according to market conditions such as consolidation.
I also use the fulcrum based on each day price activity. A general method of using the fulcrum is to go long when price is above the fulcrum and short when the low.
please remember these are just outline rules to apply some structure, don’t forget to do some testing.
The set up:
The entry occurs when I have a completed candle pattern such as a morning star, evening star or engulfing candle pattern. I must stress that I only analyze a trade when I have a closed completed candle on whatever time frame I am using.
For example,
If price is inside of consolidation, I will look for one of these candle patterns to occur at support or resistance on the 30 minute chart and I prefer price to be below or above the 20 day EMA according to the rules I mentioned above. Now in reality it isn’t always going to look like that when price is inside of consolidation. The 20 day EMA will often times move in a semi-straight-line through consolidation making it difficult to get a reading.
If this is the case I will only take one of these candle patterns when price has hit support or resistance that I can identify during the consolidation stage.
If there is a candle pattern that I mentioned above in the middle of this consolidation, I leave it alone as it may be a false move.
The other location I find an entry to use the scalping method is when price has actually broken outside of a consolidation range. What I am specifically looking for is a confirmed closed breakout candle. After wards I watch for the retracement to either support or resistance depending on which direction price has broken out. Once price has returned to a support or resistance, again I look for that candle pattern in the direction of the confirmed breakout.
Using this retracement pullback method will also allow for additional forms of confirmation such as finding the support or resistance level with psychological levels, Fibonacci retracement levels and the fulcrum. Additionally old highs and lows will often have an impact.
Profit targets:
I am basically looking for 20 to 25 pips as a profit target on the EUR/USD. This method can be used with only one lot as scaling out of the trade isn’t necessary. Comfortably I look for 25 to 35 pips on GBP/USD.
The stop loss levels are approximately one to one ratio and equal to profit targets however on occasion it is not always possible that price will behave accordingly and depending on market activity at the time, retests of the stop loss area are bound to happen. Specifically retests to support or resistance levels that often times will be very close to your stop loss.
For example if the last relative low on a long trade would require more than 20 to 35 pips you should pass on the trade if you are only willing to accept a 20 to 35 pip stop loss. Just wait for another opportunity, believe me another one will come and you can very often find a scalping trade like this with the stop loss I recommend in this article.
That’s basically it..
The number one tip:
I recommend only analyze and wait for the candle to close creating the pattern you’re looking for.
Also don’t anticipate price will continue any farther than you planned. Simply take the profit target what you intended to from the beginning of your trade and follow your plan.
It is usually when we change our plan that we end up losing.
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Categories: Forex Scalping Tags: chart, forex, minute, scalping
30 minute scalping technique that nets 20 to 40 pip
This technique requires identifying a candle pattern that I call a tech one trade.
Specifically, this candle pattern is either an engulfing candle pattern or Morningstar/evening star pattern.
A special tip it may help you is to wait for the candle pattern to close and complete itself.
Do not assume that it will make a candle pattern until the candle has closed.
I use the CCI indicator and macd histogram however it may be used with other technical indicators, you may need to do some testing if you use something other than the two I listed.
The setup requires there to be some form of consolidation with a clear support and resistance identifiable on the 30 minute chart.
It begins with the candle that closes above or below the range of consolidation, specifically, support or resistance.
once the candle has closed outside of the consolidation range in price has moved perhaps 30 or 40 pips, if this activity is not something you prefer to trade fearing possible false moves outside of consolidation, you can wait for price to retrace giving you a second entry opportunity and also additional confirmation.
trading like this will take a great deal of fortitude however patients makes the trader.
The retracement will usually occur or pull back to another level of support or resistance depending on which direction prices headed.
Retracements using Fibonacci tools such as the 382, and 618 levels are quite reliable.
Often times you will notice Price retraces to an old support or resistance level, typically the high or low in which created a consolidation range to begin with.
All of these are forms of confirmation and waiting for the retracement to occur allows additional time for a trader to gauge and identify market sentiment and price direction on an intraday basis.
Please see the first chart picture of the breakout candle and the retracement.
Once the retracement to a support or resistance level has occurred I wait for the tech one candle pattern to develop. In this example using the GBP/USD 30 minute chart it was a bullish engulfing candle.
This example shows several forms of support as confirmation.
The 20 psychological level,
the daily fulcrum,
and also the 618 retracement level.
These are just a few forms of confirmation you should be aware of when using this technique.
The entry is on the close of the completed tech one candle pattern,
again a tech one candle pattern is an engulfing candle or Morningstar/evening star pattern.
The stop is placed several pips below the price swing that creates the candle pattern.
Depending on price activity at the time and also considering the actual time, targets are approximately 15 to 40 pips from entry.
You may also consider using Fibonacci extension targets based on the most recent price going on the time frame you are trading from.
thanks for reading
LC
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Categories: fibonacci scalping Tags: minute, nets, scalping, technique
