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Scalping is a style of trading. The aim of EURUSD scalping involves buying or selling the currency pair, holding the position for a small amount of time, hoping to benefit from many quick profits. A trader might look to a higher timeframe to get a feel for the long-term trend, but it makes sense that most scalping techniques are based on short time frames and technical analysis.
From my experience, the strongest three candle pattern is Doji Star. The strongest two candle pattern is an Outside Candle, not to be mistaken for an Engulfing. When one of these psychological patterns emerge, we often get a correction or reversal. Figure 1 reversal candles Breakout and continuation strategies Markets tend to consolidate more than they trend.
This often forms a channel. After the first blue bar opposite the closed M5 candle, a BUY deal opens. On M5 of the current trading day, the blue bars are replaced by red. After the first closed candle with a red stripe, a short position opens. Stop Loss and Take Profit Stoploss is set at the nearest extremum. When the price moves in the direction specified by the deal, the distance equal to the stop loss is converted to breakeven.
Then move the stop-loss in the positive zone using this distance to lock in profits. Or for these purposes, you can apply a trailing stop by specifying a value equal to the distance from the deal price to the stop-loss. Conclusion This strategy is simple and easy to use. By strictly observing its conditions, you can achieve good trading results.
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