123 Pattern MTF Forex Scalping Strategy
This is a scalping strategy that uses the price action when trading. This strategy is a trend following strategy, so it means that trading in the direction of the trend can make trading more comprehensive. Use this method in a 5 or 15-minute chart. The currency pairs that are applicable to this system are EURUSD, GBPUSD, USDCHF and AUDUSD.
Forex Indicators:
- Parabolic Sar indicator (0.02-0.2);
- Moving Average Simple ( period 6, close);
- Moving Average Simple ( period 12, close);
- Moving Average Simple ( period 24, close);
- Moving Average Simple ( period 48, close);
- Bollinger Bands (12, 2 or 20 :2);
- Bollinger bands (48, 2);
- 1-2-3 Pattern MTF v3.1;
- Lab Trend Zig Zag 1.2;
Buy Entry:
- Simple Moving Average must be trending up: MA 6 > MA12 > MA 24 > MA 48 and MA12 > MA24 > MA 48.
- The direction of the parabolic SAR must be upward and dots must be below the candle.
- The upper band of the Bollinger band (12, 2 or 20:2) is greater than the upper band of the Bollinger bands (48, 2).
- Lab Trend Zig Zag is pointing up.
- Place a pending buy order at level 100 of the indicator 1-2-3 pattern with target 161 or 261.
- Place the stop loss 2 pips below the level of 23.6.
Sell Entry:
- Simple Moving Average must be trending down: MA 6 < MA 12 < MA 24 < MA 48 and MA 12 < MA 24 < MA 48.
- The direction of the Parabolic SAR must be downward and the dots is above the candles.
- The lower band of the Bollinger band (12, 2 or 20:2) is greater than the lower band of the Bollinger bands (48, 2).
- Lab Trend Zig Zag pointing down;
- Place a pending sell order at level 100 of the indicator 1-2-3 pattern with target 161 or 261.
- Place the stop loss 2 pips above the level of 23.6.
Recommended MT4 Brokers
XM Broker
- Free $50 To Start Trading Instantly! (Withdraw-able Profit)
- Deposit Bonus up to $5,000
- Unlimited Loyalty Program
- Award Winning Forex Broker
- Additional Exclusive Bonuses Throughout The Year
>> Sign Up for XM Broker Account here <<
FBS Broker
- Trade 100 Bonus: Free $100 to kickstart your trading journey!
- 100% Deposit Bonus: Double your deposit up to $10,000 and trade with enhanced capital.
- Leverage up to 1:3000: Maximizing potential profits with one of the highest leverage options available.
- ‘Best Customer Service Broker Asia’ Award: Recognized excellence in customer support and service.
- Seasonal Promotions: Enjoy a variety of exclusive bonuses and promotional offers all year round.
>> Sign Up for FBS Broker Account here <<
Click here below to download: