M1 scalping system at 13.29gmt (Prior to news)
Thanks for sharing! That's a great first impression.
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Simple scalping system to be used at 13.29GMT for best results.
Time frame: 1 minute
Indicators: 30 period sma
Standard bollingers 14,2
Prefered Pairs: Eur/usd, usd/jpy (due to small spread) but tried and tested on gbp/usd and usd/chf also.
Stratergy:
At 13.29gmt check to see if the price action is above or below the 30sma and distance to bollingers. If it is above then prepare to sell. If below then prepare to buy. Set stoploss at -10 pips from the sma and take profit +10 pips.
At 13.30 (or a few seconds before) if the candle stick crosses the sma buy/sell in that direction.
If the price returns to the 30sma before your tp target is hit, close the trade manually. (this is a scalping system, so always wise to keep your finger on the trigger.)
This system works well when news announcements are due. Can be used at other times but make sure to refer to higher timeframe to get the bigger picture.
Happy hunting.