Simple Forex Scalping Strategy

The strategy presented in this post it is one of the simplest and it can be used on currency pairs with medium volatility and low spreads like: EURUSD, GBPUSD and USDJPY. The recommended time frame is 5 minutes. The systems is a combination of candlestick patterns, which offers reversal signals, and the Relative Strength Index (RSI), which announces market exhaustion in overbought and oversold signals.
The candlestick pattern preferred for this scalping strategy is the Shooting Star. It announces a reversal of the power from the bulls to the bears. This pattern should be searched only on the highs of a trend, it is a bearish signal and it doesn’t matter the color of the candle.
Shooting Star Candlestick
The RSI used it is recommended to have 14 periods. If the number of periods is too small it will give many but of low quality signals, while if the number of periods will be higher the quality of the signal could improve, but the number will drastically drop.
Let’s get to the practical part of the trading. There are 2 scenarios that you could look for:
Look for a Shooting Star, drawn after a strong move, and for the RSI to get into the overbought area. If you get both signal from the RSI and confirmation from the candle stick pattern, open a sell order on the opening of the next candle after the formation, set a stop loss order above the Shooting Star’s upper shadow and a Take profit at 50% of the previous rally.......
         *****Building Systems That Create Wealth******
“Content is not King. Conversations around content used to be King. Now, sharing content is King” (Long live the King) - Steve Goldner

USD JPY 2/2/2018 SEll 110.45 tp 110.120  

Làm thế nào để có những bí quyết để kinh doanh và kiếm tiền đều đặn? 建立業主打造智慧城智能系统自动管理?

Why Scalp?Scalpers like to try and scalp between five and 10 pips from each trade they make and to repeat this process over and over throughout the day. Using high leverage and making trades with just a few pips profit at a time can add up, especially if your trades are profitable and can be repeated many times over the course of the day. Remember, with one standard lot, the average value of a pip is about $10. So, for every five pips of profit made, the trader can make $50 at a time. Ten times a day, this would equal $500.

Read more:
It is our's pleasure to present to you this free ! 
if you have any query please contact me !!
  *****Products Make You Money, Systems Make You A Fortune******

Update :9/08/2016 Scalpers note : EUR/USD Sell :1.1104 TP :1.1016 ,SL :1.1111