50 pips a day foreign exchange scalping technique
50 pips a day foreign exchange scalping technique as a lot as one hundredpips a day by Forex Elite .com before we begin. a quick notice to go to Forex Elite .com forour foreign exchange mastery course that course presents. a variety of the best forex scalping methodswhich might be extremely necessary so that you just can know. also make certain to hit the like button subscribeand comment for extra movies now again to our. 50 pips a day forex scalping technique as much as a hundredpips a day we’ve a fourstep process for you to. commerce foreign exchange professionally each day whatwe’re looking for are a double reversal sample. at an essential stage on the proper time thereafterwe optimize our entry right here is an example of our. fourstep forex trading technique on the model newzealand us greenback that is day quantity three. of this week for the brand new zealand us step numberone our double reversal sample reversal sample.
Number one is in this area proper right here reversalquantity two begins with this inexperienced and ends. with that purple right there that pink completesreversal number two now in addition to having. our double reversal for the 1st step we reallyhave some additional confluences to this trade. which i might love to share with you guys theextra additional confluences to our 4 steps. the better so one of many furtherconfluences that we have for this instance. is that we have a triple reversal sample on amultiple day greater time-frame reversal primary. reversal number two reversal number three that isa triple reversal pattern on a a quantity of day greater. time frame however the lesson i would like you to take awayfrom that is that any extra confluences to. our four steps the better i do know a lot of youguys love to use development strains and yes you could.
Absolutely use pattern lines with our four stepsthis is an example of a trend line that is aligned. with step primary let me go ahead and drawthat out first and as you probably can see reversal quantity. one and reversal number two are immediately alignedwith that pattern line so again the lesson is should you. love a particular technique or an indicatorsure you could completely use it in addition. to our fourstep technique as extraconfluences to our technique such as this. development line for instance let me go ahead and deletethis and transfer on to step quantity two which is. to make certain that our double reversal pattern istaking place at an essential stage an important level. might include a day by day pivot point corresponding to this oneright right here or it might include a determine which is. this line proper here the 5900 determine stage so ourexample for the new zealand us has each a daily.
Pivot level and a figure you solely want one should youhave two that is even higher step number three you. need to ensure that the second reversal thisone right here is occurring at one of those three. right instances as specified in our forex secrets and techniquesvideo those three right occasions embody both the. tokyo open the london open or the brand new york openas you can clearly see this second reversal is. proper around the london open which is ideal stepnumber 4 you want to optimize your entry and we. usually enter proper off the shut of that reversalcandle if the reversal candle is good and small so. this was this second reversal was a pleasant and smallreversal it didn’t shut down right here as this bar did. had that reversal closed down here then yes youwould have wanted to wait for a small retracement.
And why would you have to await a smallretracement because should you entered down right here. somewhere it would not offer you our minimal rewardto risk ratio of two to one the fact it’s up right here. it gave us a perfect two to a minimal of one reward to dangerratio so our entry is precisely the place my mouse is. precisely where that blue line is that’s the entryfor this example cease loss comfortably behind the. reversal patterns so somewhere around there wouldbe a perfect area for your stoploss simply behind. those reversal patterns that is the rule withthese trades take revenue is always a few pips. prior to the next goal daily pivot and thisinstance is precisely why we let you know to position. your take revenue a few pips prior to the nexttarget day by day pivot as you’ll be able to see here this pin. did not touch this daily pivot should you had setyour take profit proper on the pivot as i’ve.
Done proper right here notice how this take profitwould not have been mechanically executed. additionally by no means assume worth will break by way of thisday by day pivot point so the rule is place or take. profit a few pips previous to the subsequent goal day by daypivot never assume that value will go through it. and by no means assume worth will really touch it thisexample is strictly why we let you know to take action and. what is the reasoning behind this the reasoningbehind this is that london and ny traders. shut their positions out right here a fewpips prior to the following target every day pivot. and what happens when london and newyork merchants shut their positions. price tends to retrace again to the day by day pivotthe place it got here from that is precisely what it’s doing. so this instance could not be a better illustrationof why we all the time say place or take profit.
A few pips previous to the subsequent target every day pivotone thing to notice with these trades is that at all times. you want to keep a minimum reward to dangerratio of two to 1 so when you set your entry. you must ensure that your cease loss and yourtake revenue are a ratio of two to at least one and bear in mind. this is a set and forget technique once you setyour entry your cease loss and your take revenue. you go about your day and that you have got carried out thatfor this example that is eighty five pips set and overlook. here is one other example of our fourstep foreign exchangetrading technique on the usn this is day number. four of this week for the usn on this particulartrading day most of the currency pairs went both. straight up or straight down when currencies arebeing moved you are not going to get our commonplace. set up so easily what you want to search for isa retracement then our 4 step strategy as.
You can clearly see the usgn went straight downwhat do you do you search for a retracement right here. is the transfer down right here is the retracement move downretracement then apply our four steps step quantity. one the double reversal pattern reversal numberone is this green pin right at the s1 daily pivot. and a really clear reversal that completesreversal number one reversal quantity two is. this two bar combination with this green this reddiscover how this pink came in conveniently closed. proper beneath s1 that accomplished reversal numbertwo now earlier than i get into step quantity two i would like. for example a number of the additional confluencesto this trait the first extra confluence that. we have are what are often known as swing highs or swinglows notice how this low is decrease than that low. any time you have decrease lows that indicates alarger likelihood of your trade going decrease.
If you have greater highs that may indicate alarger chance of your trade going larger. another additional confluence that weneed to this trade and anytime you have a. retracement you almost always have a fibonacciretracement again this is our retracement here. and anytime you could have a retracement youusually have a fibonacci retracement. let me go forward and illustrate that for you ifyou anchor your fibonacci from the excessive of the day. to the low previous to the reversal patternsyou get the three fibonacci golden ratios. the 0.32 the 0.5 and the zero.618 the confirmationthat is needed for a fibonacci retracement. is to ensure your reversal patterns reversebetween the 0.382 to the 0.618 discover how this. reversed proper between the zero.32 and the zero.5 that’sexcellent if this inexperienced bar got here previous the 0.618.
And closed above the 0.618 that may point outthat your commerce may be going up but the truth. that this inexperienced bar closed and reversedproper here between the 0.382 and the zero.618. this now turns into a further confluence to yourcommerce let me go ahead and take away our fibonacci. retracement confluence and focus on our thirdand most essential confluence that we now have for. this trade and this third and most essentialconfluence is known as your good oldfashioned. conventional assist and resistance zonenotice how what was beforehand assist. is now resistance this is known as a help andresistance zone this can be a very very classic setup. once worth breaks a help and resistance zoneyou look for a double reversal sample what was. previously assist now might be beforehand resistanceyou search for a double reversal sample right there.
This is a gigantic further confluence toour fourstep technique the general lesson for. this video is that any additional confluences youshould our fourstep buying and selling technique the higher. however this help and resistance zone is extraordinarilypowerful it’s a very conventional fashion of buying and selling. and it is undoubtedly a really powerful additionalconfluence to our pressure steps so let’s get again. to step number two which is to ensure thatour double reversal sample is going on at. an essential level an essential stage mayinclude a determine or it may embody a every day. pivot point and that’s precisely what we now have inthis example these double reversals are taking place. proper on the s1 daily pivot now as well asto our essential degree of the daily pivot. we also have these double reversals taking place atour support and resistance zone once more the more.
Additional confluences to our trade the higherso step two has an extra confluence of these. reversals occurring at our assist and resistancezone so we have two necessary levels for this. example the s1 daily pivot and our support andresistance zone step quantity three you need to make. positive that the second reversal this one proper hereis occurring at a kind of three right times. as referenced in our foreign exchange secrets video thesethree right occasions include either the tokyo open. the london open or the new york open now as youcan see the precise entry for this reversal it may. have been proper there that entry is somewhat bitsooner than our ordinary london open time nonetheless you. did have about two hours to actually get in on anentry that provides you a perfect two to 1 reward.
So it is okay if the second reversal occursslightly before our regular instances as lengthy as it. provides us another entry throughout our precise instances thatwe look for these trades step quantity four you want. to optimize your entries so the best entry theperfect entry would have been right on the close. of that reversal candle so let me go ahead andmark our entry in blue and i’ll present you the precise. entry where it could have been as quickly as thispink bar came and closed beneath s1 our second. reversal right the place my mouse is true wherethe blue line is was your first potential entry. nevertheless going again to step quantity three this isslightly earlier than our usual occasions slightly before. the london open on this explicit examplehowever discover you had about two hours about. an hour and forty five minutes to be much more specific totruly get in at a great entry anywhere in this.
Zone proper right here to give yourself a minimal two toone reward to danger ratio our cease loss is all the time. comfortably behind the reversal patternso somewhere round there would have been. an ideal area to place your cease loss the rulebeing all the time behind your stoploss at all times behind. the double reversal patterns take profit all the timea quantity of pips previous to the next target every day pivot. as you presumably can see here value went via it howeverby no means anticipate that value goes to break. by way of the subsequent target day by day pivot by no means set yourtake profit on the pivot by no means assume it’s going. to interrupt by way of it so all the time a few pips previous tothe next target every day pivot always remember that. your stop loss and your take profit should all the timebe a minimum reward to danger ratio of two to 1. in different words two factors for your take profit onelevel in your cease loss that is the minimum ratio.
Some of those trades might be higher ratios suchas three to at least one four to a minimum of one however you always need. to maintain a minimal two to at least one reward to dangerratio and bear in mind this is a set and neglect. technique so when you set your entry your stop lossand also you set your take revenue you go about your day. and this commerce would have automatically beenexecuted for a two to a minimum of one reward to threat ratio. that may have been routinely executed nowlet’s hypothetically say your commerce was still open. the rule with these trades is that if it is4 to 5 pm london time and your take revenue. has not been mechanically executed then yougo ahead and manually shut the commerce out now. one other note about set and neglect methods whydo we even care if it’s a set and neglect technique. the purpose is that a set and neglect techniqueeliminates the emotional curler coaster of trading.
Good buying and selling is all about making objective buying and sellingdecisions and the way you do that is via our. set and forget strategy right here is another exampleof our fourstep foreign foreign money trading strategy on the. pound yen this is day quantity five of this week forthe pound yen we had plenty of glorious setups on. this day however we particularly selected the poundianbecause the construction of the trade was perfection. step number one to double reversal sample thisexample really had six reversal patterns at the. day by day pivot here is reversal one right here is reversaltwo reversal three reversal four reversal 5. reversal number six you solely want two butsix is unquestionably an additional confluence. now i don’t need you guys takingthese double reversals without actually. understanding what is going on on behind the scenesshould you perceive this commerce you will turn out to be a.
Much higher forex trader because of it so what’sreally happening with these reversal patterns. these are known as false breakouts these aretraps set by market makers to trick ninety. % of retail traders to position an order tothe downside as quickly as they’ve enough contracts they. simply reverse within the exact other waythen they’re going to do it once more false breakout down. they get ninety percent of retail traders insertingan order to the draw back when they have sufficient. contracts they’re going to reverse within the precise oppositepath this is how they make their cash this. is exactly the strategy that you have to implementso as not to fall for their traps another. thing i want to level out with this example ifyou are a london session trader this is precisely. what you should look for previous to the londonsession for example you flip in your pc here.
If you discover a very nice false breakout after whicha reversal back into the pivot at the tokyo open. that’s your sign that is your big clue tomaintain your eye on this explicit pair and look. for a clearcut reversal sample proper at thelondon open at an necessary stage here was your. entry this was your huge signal to keep youreye on this pair now earlier than i get into step. quantity two i want to focus on the various additionalconfluences that this particular instance has. so the first further confluence is largerhighs as you can see here we now have greater highs. and we even have larger lows when you could havehigher highs and better lows you may have a greater. chance of your commerce going higher contrarilyif you have lower highs lower lows you have a. higher likelihood of your trade going loweranother further confluence to our 4 steps.
Is that we now have a support and resistance zoneright around there what was beforehand resistance. is now support this help and resistance zoneis a very powerful further confluence to our. 4 steps another extra confluence that wehave to our four steps is a pattern line let me go. ahead and draw this trendline and show you guysthis additional confluence that is directly aligned. with our reversal patterns notice how this nearlypinned our trend line this reversal the essential. one right on the london open at our essentialdegree is precisely aligned with our trend line. discover that the reversal patterns thereafter againinstantly aligned one two three 4 and one other. extra confluence that we’ve to this examplewe even have a number of fibonacci retracement. confluences if you draw the fibonacci from the lowof the earlier day to the high of the present day.
What you will notice is that our reversalsfall between the important the 0.382 and. the 0.618 fibonacci retracement levels let mesee if i can put it in an space the place you’ll find a way to. see the numbers here discover how both of the verydistinctive reversals closed and reversed within. the 0.382 to the 0.618 fibonacci retracementranges so this fibonacci retracement is also. an additional confluence to our four steps we alsohave one other fibonacci confluence that’s identified as. a multiple fibonacci retracement confluence fromthe low of this particular day to the high of. this day if you draw it out you will notice thatthese reversals fall on the zero.382 so not only. did it work from this low to this excessive thesefell at the zero.5 however from this low to this high. it fell out to zero.382 that’s often known as a a quantity offibonacci retracement confluence so enough about.
Additional confluence the most importantfactor to remove from this video is that. the more further confluences to our 4steps the higher now let’s go back to step. number two which is to make positive that the doublereversals or the six reversals are happening at an. important degree as you possibly can clearly see thesereversals have been happening at the daily pivot point. also the reversals were occurring at the 1.33determine level you solely need one in case you have each. that’s even higher step number three you needto be certain that the second reversal this most. distinctive one is occurring at a sort of threeright occasions as laid out in our forex secrets and techniques. video these three right times include both thetokyo open the london open or the model new york open as. you probably can clearly see this very distinctive secondreversal right here was our first distinctive one this.
Is the second distinctive one this one is preciselyat the london open so the timing of this man. couldn’t be more perfect step number 4you wish to optimize your entry so our actual. entry would have been the close of that seconddistinctive reversal let me go forward and first. mark our entry in blue so that you guys canperceive precisely where we enter right here. so as soon as this inexperienced bar closed proper where mymouse is true the place that blue line is is precisely. your entry why would you enter there as a end result of whenyou place your stop loss behind these reversals. that is often where a cease loss goes therule being behind the reversal patterns. take profit always a few pipsprior to the subsequent target pivot so. our take revenue could be right there if this whenthis green bar closed if you get a two to 1 you.
Can enter proper off the close let’s hypotheticallysay this inexperienced bar closed up here that would not. offer you a two to 1 that may provide you with aless than a one to 1 reward to risk ratio. so if the green bar got here all the method in which up right here andclosed you would want to wait for a retracement. to get a 21 reward to threat ratio but the fact thegreen bar closed proper here it gave you a perfect. 2 to 1 reward to threat ratio this take revenue isabout a hundred and eighty pips and this cease loss is about ninety pips. should you entered right there right off the closeit was an ideal 2 1. now remember this is a set. and overlook technique so when you set your entryyou set your stop loss you set your take profit. you go about your day now for this commerce yourtake profit would not have been mechanically. executed in the london buying and selling session so what doyou do if your commerce is still open in the london.
Trading session the rule with these trades isif it’s 4 to 5 pm london time which is about. right here this bar is exactly 4 30 p.m londontime if it’s any time from 4 to five pm london time. and your trade continues to be open then what you wantto do is manually close it out so for this example. although it didn’t hit our a hundred and eighty pip take profityou still would have manually closed the trade out. at right around 430 anyplace from 4 tofive for over 100 pips take revenue. so regardless it was a superb trade and themost necessary thing you need to do whether it. hits your take profit or whether or not you manuallyclose it the most important thing to do is take. good setups if you see beautiful false breakoutslike this and reversals back into the daily pivot. these are the fashion setups that you shouldtake and that is why we selected this particular.