Fibo Pivots Forex Scalping Strategy
This scalping system is an intraday system and makes trade decision based on the direction of the trend. This strategy is made possible by the fibo pivot levels indicator. The currency pairs that is applicable to this system are EU, GU, AU, UCHF, GJ and gold. Use this system on a 1-minute timeframe.
Metatrader Indicators:
- Exponential moving average 55 periods (close),
- Exponential moving average 200 periods (close),
- Arrow
- ArrZZx2 Support and resistance indicator.
Buy: If the price is above the central Fibo Pivots line.
Sell: If the price is below the central Fibo Pivots line.
Long Entry:
- Exponential Moving Average 55 periods (EMA) is greater than Exponential Moving Average 200 periods (EMA)
- Buy arrow represented by a blue color must appear.
- ArrZZx2 indicator draws Support.
Short Entry:
- Exponential Moving Average 55 periods (EMA) less than Exponential Moving Average 200 periods (EMA).
- Sell arrow represented by a red color must appear.
- ArrZZx2 indicator draws resistance.
Exit Position:
- At the opposite arrow.
- Fast profit target,
- At the Fibo pivots points levels.
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