Forex scalper indicators
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.
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: 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. Option 2 Open 2 lots. Exit at Support and Resistance levels. Option 3 Exit at the nearest 50 or 00 level.
Exit at Support and Resistance levels. Option 3 Exit at the nearest 50 or 00 level. These are psychological levels. Option 4 Trailing Stop. Once in a trade, at the close of each candle, place your stop 1 pip below the low if in a buy trade. Vice versa for a sell trade. Click on the link to see the article to learn how to install the Blue Rainbow MA Indicator for this strategy. Fill out your details below to be updated instantly when there is a new live webinar coming up or other major announcements.
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