241# Envelopes Forex Scalping

Submit y jonyfx 24/09/2012

 

Time Frame 5 min

Currency pairs:majors.

Session Trading Berlin

 

Indicators:

Trend22

 

EMA55

envelope 55deviation 0,13%

envelope 55deviation 0,21%

envelope 55deviation 0,34%

The indicators setup value are nubers of the Fibonacci sequence: 1, 1, 2, 3, 5, 8, 13, 21,34, 55,....

 

Long Entry

The trend22 indicator has to turn from red to green.

The price has to close above the white EMA line. The candle that is closing above is called the set up candle. If the candle that is closing above the white line also is closing above the first red line the trading signal is not valid.

You place a pending Long position 3 pips below the high of the set up candle.

 


You place the stop loss 1 pips above recent swing.

If you are in a short trade or long trade you ignore all new signals as your trade is open.

Profit Target at the firs blue envelope or 7-10 pips

Short Entry

The trend22 indicator has to turn from green to red.

The price has to close below the white EMA line. The candle that is closing below is called the set up candle.

If the candle that is closing below the white line also is closing below the first red line the trading signal is not valid.

You place a pending short position 1 pips below the low of the set up candle.

You place the stop loss 3 pips above recent swing.

Profit Target at the first red envelope or 7-10 pips



 

In the pictures Envelopes Forex Scalping in action.

Forex Trend_v22
ForexTrend_v22.rar
compressed file archive 2.5 KB
envelopes scalping trading system
envelopes scalping.rar
compressed file archive 693 Bytes

 

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