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Forex Price Action Scalping Strategy: Tools of The Trade

The document describes a forex scalping strategy that uses 1-minute charts of the EUR/USD and GBP/USD currency pairs during European and US trading sessions. It utilizes a 50-period exponential moving average and looks for opportunities to enter trades when the price breaks above or below falling or rising trendlines, respectively. The strategy aims for a maximum risk of 15 pips per trade with a profit target of 15 pips or more.

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gunawan kertosono
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727 views2 pages

Forex Price Action Scalping Strategy: Tools of The Trade

The document describes a forex scalping strategy that uses 1-minute charts of the EUR/USD and GBP/USD currency pairs during European and US trading sessions. It utilizes a 50-period exponential moving average and looks for opportunities to enter trades when the price breaks above or below falling or rising trendlines, respectively. The strategy aims for a maximum risk of 15 pips per trade with a profit target of 15 pips or more.

Uploaded by

gunawan kertosono
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Forex Price Action Scalping Strategy

The 15 pip breakout forex scalper is developed to trade the EURO/USD and GBP/USD
with great accuracy during the Euro and US sessions. The average stop loss is only 8-9
pips wide while the minimum profit target is 15 pips or better.

Tools of the trade

• 1 Min forex chart


• Falling and rising trend lines.
• Preferred currency pairs: EUR/USD and GBP/USD
• Preferred trading sessions: EURO and US

Forex Indicators:

50 exponential moving average (EMA)

EUR/USD Buy Trade Example


Forex Trading Rules:

BUY TRADE

1) The 50 exponential moving average is sloping up and the currency exchange price is
trading above the 50EMA.

2) Draw falling trend lines in the up trend (see chart above).

3) BUY the Euro/Dollar or Pound/Dollar if the price breaks and closes above the falling
trend line.

4) Place your stop loss 1 pip below the breakout candlestick. Your stop loss should
never exceed 15 pips.

5) Take profit objective is 15 pips or better.

SELL TRADE

1) The 50 exponential moving average is sloping down and the currency exchange price
is trading below the 50EMA.

2) Draw rising trend lines in the downtrend.

3) SELL the Euro/Dollar or Pound/Dollar if the price breaks and closes below the rising
trend line.

4) Place your stop loss 1 pip above the breakout candlestick. Your stop loss should
never exceed 15 pips.

5) Take profit objective is 15 pips or better.

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