Forex Scalping l Can trader make a living scalping ? Guide to Forex Scalping – Health and Me

Forex Scalping l Can trader make a living scalping ? Guide to Forex Scalping

Forex strategies ways to find imbalance on a currency chart

It has been a fact that people often look for mechanical system for day trading and scalping for quick profits but still they don’t really know the way to do it and indicators used for scalping and it has been pretty difficult to select the pairs we can scalp and enough profits from it to continue to depend on Forex for a day living.

Build your system for Scalping in Forex else Practice this system for months to see its consistency

Forex Scalping is perhaps the most widely used term in financial market because there are not too many trends in stock and treasury market on consistence basis but there are few pairs specially exotic currency that really moves a lot on intraday basis for trader’s benefit and that is the real benefit of working in Forex market rather than any other stock or financial Market in the world.

Forex Scalping needs combination of RSI EMA and Fibonacci

Checklist for the system. Plot a 14 period RSI on daily Chart
Look for direction above 50 or below 50 for the trend.
Also plot 50 period EMA on the Chart
Move to 5 minute chart.
Check any movement that is above 40 pips
Trend has to be clear with RSI Value
Now apply fibonacci to this 40 pips move as shown in the below chart.
Now wait for price to correct 61.8% to 50.0% but not below 50.00 as I don’t consider there could be any institution driving price that low to sell. When Price retrace to the mentioned fibonacci number wait for the price to break below 23.6% . Also check that IF price break below 50 period ema and retesting the EMA (real bonus if EMA and fibonacci provide cluster or confluence) Last point check RSI and set stop above 78.6% which should be below 50.

Live trade example 16th October 2022 Gbp/chf

Related Posts

Institutional Traders Left shoulder price action -How to trade Head & Shoulders pattern

Forex head & shoulder patterns > As I’ve already mentioned that most of the price action patterns failed because all of are probably based on fibo ratios,…

Understanding price action means collecting pieces of puzzles to fit them into the overall context l Forex trading without indicators

Forex strategies ways to find imbalance on a currency chart While trading is not the difficult but even as not as easy as we first anticipate while…

Bitcoin Price Prediction and cryptocurrency news that will drive the price of Bitcoin

Bitcoin Price Prediction I would like to alert my Blog readers about the advancement in price of bitcoin. Bitcoin is always in news & U.S is planning…

Ema Trading With example of current price Action of Usd/Jpy

Following the backtest of EMA price action as I mentioned in my previous post Recent pair to watch usd/Jpy. Price is being strongly supported by EMA 72…

Time to Revive the Forex Education Stop hunting process

Forex Price Action with Stop hunting process As all of you know that Forex is a place where there are enough orders to execute the facilitation &…

Is this market really fundamentally driven ?

I’ve seen market takes turn based on what big players are focusing. Federation and Trump & OPEC, people with big guns turns the market at will. How…

Leave a Reply

Your email address will not be published. Required fields are marked *