Scalp Pattern Trading System
Scalp with Bullish engulfments and Bearish engulfments
Time sensitive method
Pairs: Major with spread < 0.0001 (EUR/USD).
This Trading System is only for ECN Brokers Accounts
Rules for Scalp Pattern Strategy
Setup:On 15 minute candlestick bars, look out for bullish or bearish engulfments.
Entry: Timing window: only take trades within first hour and last hour of the trading day. For bullish engulfments: buy at market price when the white body of the current bar exceeds the high of the last dark-bodied bar (see above) For bearish engulfments: sell at market price when the current dark body of the current bar goes lower then low of the last white-bodied bar. (see above)
Profit exit Close out position for a 6-pips profit.
Stop Loss: Exit for a 6 pips loss or if the trade lasts more than 1 minute.
In the picture below an example of setup for trade with the candlestick pattern Engulfing Bearish
Share your opinion, can help everyone to understand the forex strategy.