Hello all.
Simple scalping. Thought I'd discuss the egy that I use.
Scalping suits me. I would rather be out of the market more than inside.
1 or 5 Min chart, Any pair, low spread.
Bollinger bands 25:2:Close
Smoothed MA 120 High
Smoothed MA 120 Low
The dual MAs are handy when price is there. Stops you wondering where price is shutting and gives a bit of a buffer.
Management- BB ma in relation to main MAs
Sell off upper band TP lower band.
Vice versa for long
If market is sideways, still valid but better value when MAs start to trend.
Keep a watch out for major s/r (Be cautious if your signal is at prev swing high/low. Here,a little bit of Price action and price breakout knowledge is handy).
If not sure, its always better to leave it and wait for a better chance. These opportunities will crop up heaps of times daily.
High impact news - Personally I stay out until its out of the way.
SL up to you.
Prev swing high/low is most likely best.
Less is more !
That's it.
Good luck
Please notice. I won't be sharing some of my private trades (besides illuion purposes) nor can I provide trading signals.
Your trades are your responsibility and yours alone.
I'm simply sharing a trading technique that has been successful for me.
EDIT -- Attachment 2480300 Nice add on developed and contributed by . Makes entry opportunities easier to see