Support And Resistance Forex Scalping Strategy

This is a scalping trading system based on static support and resistance. This is useful in a 5 minute or 15 minute timeframe. This system is applicable to any currency pairs.

Metatrader Indicators:

• Great Support and Resistance FX, indicator,
• Fibo pivot 3, indicator,
• Bands Modified (deviations 2.0) indicator.

Buy Entry:

• The price must break the lower bands and touch the support line.
• Enter on the opening of the next bar.

Sell Entry:

• The price must break the upper bands and touch the resistance line.
• Enter at the opening of the next bar.

Exit Position:

• At the levels of the Fibonacci pivots.
• Profit Target predetermined, depends by time frame and currency, or ratio 1:1 stop loss.
• Stop loss for buy 3 pips above the lower bands.
• Stop loss for sell 3 pips below the upper bands.

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