The 15 pip breakout forex scalper is developed to trade the EUR/USD and GBP/USD with great accuracy during the Euro and US sessions. The average stop loss is only 8-9 pips wide while the minimum profit target is 15 pips or better.
Strategy Setups
- 1 Min forex chart
- Falling and rising trend lines.
- Currency pairs: EUR/USD and GBP/USD
- Trading sessions: EURO and US
Indicators:
50 exponential moving average (EMA)
EUR/USD Buy Trade Example
Forex Trading Rules:
BUY TRADE
- The 50 exponential moving average is sloping up and the currency exchange price is trading above the 50EMA.
- Draw falling trend lines in the up trend (see chart above).
- BUY the Euro/Dollar or Pound/Dollar if the price breaks and closes above the falling trend line.
- Place your stop loss 1 pip below the breakout candlestick. Your stop loss should never exceed 15 pips.
- Take profit objective is 15 pips or better.
SELL TRADE
- The 50 exponential moving average is sloping down and the currency exchange price is trading below the 50EMA.
- Draw rising trend lines in the downtrend.
- SELL the Euro/Dollar or Pound/Dollar if the price breaks and closes below the rising trend line.
- Place your stop loss 1 pip above the breakout candlestick. Your stop loss should never exceed 15 pips.
- Take profit objective is 15 pips or better.