Wick Forex Scalping Strategy
This is a strategy that uses 2 timeframes. The 1 hour and the 5 minute. We will look at both of this timeframe and look for entries on this 2. This is applicable to EURUSD and GBPUSD pairs. There are only 2 indicators used in this system. Max spread os 0.00013.
Forex Indicators:
- Wick o Gram level 5; -5
- CCI 150; -150
Long Entry:
- The wick indicator must be below -5.
- CCI 14 is in oversold area -150.
- Enter at the opening of the next bar.
Short Entry:
- The wick must be below 5.
- CCI 14 is in overbought area 150.
- Enter at the opening of the next bar.
Exit Position:
- Place stop loss at 8-10 pips and take profit at 5 pips.
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