Showing posts with label trade locations. Show all posts
Showing posts with label trade locations. Show all posts

Saturday, September 20, 2014

Scalping in forex

How to use Scalping For Intraday trading

It is important that we chose Smart logic when we decide to trade Intraday for scalping and "Scalping techniques" does not means that we have to trade daily and make 10-20 trades for 50-60 pips which is totally asking too much or target more than your potential.

For me its Scalping been 5-6 setups a week should be good enough for whatever comes my way and Never try to overtrade and always try strong trend currency pairs to offer me pullbacks whether long or short and That is what happen on Last Friday with usd/chf setups I target for Intraday scalping.

Excellent example OF Scalping

In the above mention chart price was in strong trend and then we see extended range which is a strong sign of Imbalance and then we have strong spike and immediate selling was seen the following day but I eyed that as an opportunity because price ended the day on lows and value was shifted immediately to that lows and also that was the confluence of the prior spike and that is what we need to target while it is also low of Blue Rectangle I mark on the charts.

That sort of state is called balance and when market sentiment is balance and Nobody dominate, then there is strong that prior trend will continue and that is what happened after consolidation for a session price finally breakout and gives us good 60-70 pips profit on the day.

Friday, September 12, 2014

How to trade momentum and Find best trade locations

Best trade locations for best setups

While We prepare ourselves to chose what type of trader we are, We should prepare for Momentum trading Even for scalping or Swing trading. And when We decided We should use some strong points which cover the strong segments of "Momentum Trading".

Even though Imbalance is not present in the market, It still can continue its previous day activity, And we should be in search for this type of trade locations where Price has retraced of the prior move and Look for momentum to come again and continue moving in the prior trend before correction.

Example of Momentum trading

For next few days, As I have always done to cover the points which we need to be aware while we trade Momentum trading and above chart is the first example, But still if you trade Neutral days after breakout. You can still trade Momentum for continuation or reversals.

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