176# Cycle 1 min Scalping Forex Trading System
Submit By Janus Trader (Written by afolabiay ) 18/01/2012
Time Frame is M1
For ECN Broker Account.
Forex Indicators- lma, sma, macd. daily pivot,currency power, High or normal Fundamental News and overlay chart
Indicators settings- LMA 200, SMA 200, MACD 120,200,88,
Rules-1. LMA 200 cross SMA 200 MACD Cross 0 line after the new has been release check the reaction of the price after the crosses of the indicators, if price move towards pivot S1 or R1 open a position in the direction of the Pivot supp or res area place stop loss at the pivot area and place take profit at the pivot support or resistance area
Rules-2.if the overlay chart cross the main chart after the
news the open position in the direction, if
the price cross the S1 or R1 before its cross the overlay chart the open your position and place your stop loss to S1 or R1 the put your Take
profit to S2 or R2....
I will use USDCHF as an example with AUDUSD Overlay chart
Rule-3. Make the corresponding currency is strong in the currency power
GBPUSD with USDCHF overlay chart