210# Spike Forex Scalping

Submit by joy22 23/04/2012

 

What is an spike?

A comparatively large and sharp rise or fall of a price in a short period of time.The Body of the candle must be smaller than the spike.

 

 When the prices reach the previous support or resistance, wait for the current candlestick to form a long spike but return to it’s starting point. When the candle closes above an support or below an resistance you can scalp in the opposite directions of the spike.

 

Stop Loss: 2 pips above or belove the spike.

Profit target 6 -9 pips ( Aud/USD 6 pips, EUR/USD 8 pips, GBP/USD 9 pips, GBP/JPY 11 pips, EUR/JPY 9 pips)

 

 

 

In the pictures Spike Forex Scalping in action.

SpikeBars_v3
forex signal
SpikeBars_v3.rar
compressed file archive 1.2 KB
Body Shadow Metatrader 4 indicator
Body Shadow.rar
compressed file archive 7.9 KB
Support and Resistance forex indicator
Support and Resistance (Barry).rar
compressed file archive 665 Bytes

 

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