XPS 7 Forex Scalping Strategy
This is a scalping strategy that makes a trading decision based on the trend. This system has 2 setups for trading conservative and aggressive. This is useful in a 15-minute or 30-minute timeframe. The currency pairs that are applicable to this system are EU, UCHF, UCAD, GU, EJ, GJ, and NU. It can be used also to the futures market. This system is good during London and New York sessions.
Metatrader Indicators:
- Moving Average (4, simple,close);
- Moving Average (16, exponential close);
- Moving Average (96, exponential close);
- SDX TZ Pivots,
- Arrow= EMA 13, EMA 21, RSI 9.
- XPS V7 QQE Alerts ( SF 4, RSI 2, WP 1.236, Upper Bound 60, Lower Bound 40).
Conservative Trade:
- Trade only in the direction of the trend. The trend is determined by Ema 96.
- Open 4 chart at 15 min, Open 6 Chart at 30 min.
Long Entry:
- Buy Arrow must be present.
- Price Above MA ( 4EMA>16>96EMA)
- XPV 7 Dodger Blue Bar.
Short Entry:
- Sell Arrow must be present.
- Price Above MA ( 4EMA<16<96EMA),
- XPV 7 Gold Bar.
Exit at opposite arrow or at the SDZ TZ Pivots Level.
Place initial stop loss at the previous swing.
Aggressive Trade:
- Open 4 charts at the 15 min or 30 min time frame.
- Trade only in the of the XPS V 7 with fast profit target.
Long Entry:
- Buy Arrow confirmed by XPV V 7 that crosses upward with dodger blue bar.
Short Entry:
- Sell Arrow confirmed by XPV V 7 that crosses downward with a gold bar.
Exit Position:
- Exit at the first level of the SDX TZ Pivot.
- Quick take profit is also an option but it depends on the currency pairs and timeframe.
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