https://www.forexfactory.
com/thread/1274017-simple-manipulation-based-scalping
The most traded pair is AUD/JPY, however, the AUD/NZD or NZD/JPY pairs are also traded
within the Tokyo session.
The lowest volatility in the market is before 00:00 GMT
Always mind the release of economic news of the countries, which currencies you are going to
trade. Especially, if the release synchronizes with the beginning of a certain session.
For this strategy, you need to wait for a consolidation period between 22:00 GMT and 00:00
GMT on the M5 chart time frame.
Important note: If the price is trending during the consolidation, this strategy should not be used,
since the reversal necessary for the strategy may not occur.
Step two: Identify the trend and wait for the breakout
What's break out? A breakout is a price moving outside of a defined support or
resistance level with increased volume. It's better to choose the breakout in the direction
of a trend since they usually last longer.
If the breakout doesn't appear till 00:00 GMT, do not worry. Most likely, the break of the range
will happen during the Asian session. Fakeouts happen quite seldom, so just know they are
possible.
Asian session: How to avoid fakeouts?
Two words: double-check. The volume of trades is very low in the Asian session, so
opening a position when the candlestick breaks the range for the first time is not
recommended.
Wait for the second, confirmation break, and open a position at the opening price of the
candlestick.
Follow the strategy implementation on the example from our platform Metatrader with the M5
time frame for the AUD/JPY pair.
NY is the time when news gets released making the price extremely volatile
NY session often disrespects logics and manipulates in lighting speed.
Now the fun part! The Strategy!!
First things First, set up the indicators. Attach them to your charts!
- TDI - 13,34,2,7
- Stochastic - 8,3,3
- TEMA - 200
- EMA - 200
Now you need to focus on a particular session. I strongly encourage Asian/London Open (1st 3 hours)
