Learn to be a Scalper

[Monarch]

Hi, my name is Monarch, and I wanted to start a thread to teach others how to scalp the Forex market.

Eur/Usd

Trading sessions: Asia 80% of the time and NY 20% of the time.

I do not trade the London session.

Time Frame 1 minute for entry points.

5/15 min and the Hour chart for points of interest.

I will post some charts and the concept I use this week.

Cheers, Monarch

[Monarch]

Thursday 12:30 am EST

Eur/Usd 5 min support line 1.3823

Will be looking for quick shorts on a break of this line

Target 1.3815

Overall Eur/Usd is bullish with a stronger move upcoming based on the strength of the trend.

Target for the bullish trend is at 1.3865 area.

[Monarch]

As per the post on the short signal here are the results that transpired directly after my call.

On the first short I took +5 pips, exited, and on the move back to the breaking point I re-entered short again for +2 pips profit.

I marked the chart where I entered and exited.

Now we shall see if there is a deeper drop to come to build up for the next leg upwards.

Monarch

[Monarch]

E/U Short at 3816 target 3810

Stop at 3820 break above

[Monarch]

Here is the chart showing the last short signal.

I closed this trade with a Spread loss. -1

[Monarch]

E/U Watching 3819 line here at 1:20 am EST

If price holds, then will drop to 3811 on next short target.

[Monarch]

Short entered on the 3920 stall.

Target 3911 with stop at 3921

Exit short at 1:30 am EST +4 pips (chart coming)

[Monarch]

E/U 1:40 am EST

Price is in a tight range presently.

Frankfurt will be opening in 20 minutes.

I will be looking for longs on a break of 3822

Not too sure of shorts at this time.

Update: If the break of 3822 happens, target will be 3830

[Monarch]

EU 1:55 am EST

I will not post the chart, but the 3822 was broken and price moved to 3826 then tested the 3822 once again and held.

I remained in for the next leg up before the new hour bar here.

Exit +3 pips at 1:57am EST

It is now Frankfurt open and I am finished for the evening.

Cheers, MONARCH

[Monarch]

Good Morning, it looks as if the London session kept the bullish trend alive.

Here was my projection from post #2:

Overall Eur/Usd is bullish with a stronger move upcoming based on the strength of the trend.
Target for the bullish trend is at 1.3865 area.

Now that we have cleared this area, we will watch it for possible pullback zones, and for the upper targets I am watching 3906.

The 4 hour chart has a lot of strength also, so the Longs will be trying to take back some of those losses from last week.

[Monarch]

This was the pullback to 3865 zone I was speaking of.

When price hit the body of the 5 min candle where the 8:30 am EST news had taken the move up, I went long and took +5 with no hesitation.

Remember, this is scalping, so I am in most trades for 1 to 2 minutes and exit on areas of resistance or support based on the 5 or 15 min charts.