Urban Towers Scalping Strategy
Name : Urban Towers Scalping Strategy by urbanforex
Indicators : Blue MA
Time Frame : 15min
Description : During a trend, when the market retraces to the blue MA with at least 3 consecutive lower highs (3 towers), we enter at the break of the high of the last high. Ok let me explain in details one by one.
Steps to Follow :
- Price is above the blue MA trend is up
- Price is below the blue MA trend is down
- Market retraces towards the blue MA with 3 consecutive lower highs (in a uptrend)
- At the break of the high of the last candle, we enter long (in a uptrend)
Trade Example Number 1
Alright, what do we know right off the bat by looking at this. We know the market is in a uptrend because the market is above the blue MA. The market retraced to the blue line with 3 consecutive lower highs (3 towers) as we can see the red candles above. Next, we entered long at the break of the high of the last retracement candle - which in this case is 3rd tower as we can see above. Ok 1 more example for you guys
Trade Example Number 2
Ok now here is a example of a no good trade.
Alright, in this example, the market was in a uptrend, it did a 1, 2, 3 tower retrace but it never had a breakout on the high of the 3rd tower, in fact, the market continued down and changed to a down trend. This example is to show that this strategy helps avoid many fake trades.
I hope you like it ! Let me know if you have any questions.
|Thread Tools||Search this Thread|
|Thread||Thread Starter||Forum||Replies||Last Post|
|Forex Scalping Strategy||jebigabre||Classified Ads||8||08-14-2009 05:13 PM|
|Great GBP/JPY 1M scalping strategy||ariesto||Trading Systems||19||05-02-2009 04:13 PM|
|Scalping||Ravique||Trading Systems||21||03-12-2009 06:07 AM|
|Scalping EA||Alfa||Trading Systems||12||08-18-2008 01:33 PM|
|scalping...||redhuan||Trading Systems||0||06-21-2008 08:16 PM|
Registered members gain free access to online FOREX currency trading tools, foreign exchange software, Metatrader MT4/MT5 expert advisors, MT4 indicators and EAs. Register now