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JMO Pivot Forex Scalping Strategy
This is a strategy that uses price action and JMO indicator. This works in a 15 minute timeframe and is applicable to major currency pairs.
Metatrader indicator:
- Pivot Levels Scalping Metatrader indicators:
- LC-Pivot,
- Jmo V.5 (3). overbought >85; oversold<15.
Sell Entry:
- The price must touch the pivot levels.
- JMO is in overbought zone greater than 85 level.
Buy Entry:
- The price must touch the pivot levels.
- JMO is in oversold zone less than 15 level.
Exit position:
- Exit on the next pivot levels.
- Take profit at 7 pips for AUDUSD, 8 pips for EURUSD, GBPUSD 10 pips and USDCHF 8 pips.
- Stop loss Ratio 0.8 Profit Target.
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