15 Pip Breakout Scalper Strategy

15 Pip Breakout Scalper Strategy

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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

15 Pip Breakout Scalper Strategy

Forex Trading Rules:

BUY TRADE

  1. The 50 exponential moving average is sloping up and the currency exchange price is trading above the 50EMA.
  2. Draw falling trend lines in the up trend (see chart above).
  3. BUY the Euro/Dollar or Pound/Dollar if the price breaks and closes above the falling trend line.
  4. Place your stop loss 1 pip below the breakout candlestick. Your stop loss should never exceed 15 pips.
  5. Take profit objective is 15 pips or better.

SELL TRADE

  1. The 50 exponential moving average is sloping down and the currency exchange price is trading below the 50EMA.
  2. Draw rising trend lines in the downtrend.
  3. SELL the Euro/Dollar or Pound/Dollar if the price breaks and closes below the rising trend line.
  4. Place your stop loss 1 pip above the breakout candlestick. Your stop loss should never exceed 15 pips.
  5. Take profit objective is 15 pips or better.