Simple Scalping Using Bollinger Band Forex Strategy


Simple Scalping Using Bollinger Band Forex Strategy

This scalping system uses a Bollinger band to identify the reversals, but this method is a trend following method. Use this method during London and New York sessions. This system is for all currency pairs with a 5 minute and 15-minute timeframe. Avoid trading within the news.

Forex indicators:

  • Bollinger bands (20, 2);
  • Ema (2);
  • EMA (11);
  • EMA (21),
  • Stochastic (5,3,3).

Buy Entry:

  • The price must touch or break the lower band.
  • The EMA 2 must be above EMA 11 and EMA (21).
  • Stochastic must cross upward.

Sell Entry:

  • The price must break or touch the upper band.
  • The EMA 2 must be below EMA 11 and EMA 21.
  • Stochastic must cross downward.

Exit Position:

  • For 5-minute timeframe.
  • Target profit must be 8 pips for EU, 10 pips for Gu and 7 pips for AU.
  • Place initial stop loss at 15 -18 pips.

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