124# Bollinger Bands 5 min Scalping

Bolllinger Bands Scalping system

Submit By Janus Trader

 

Currency Pairs: EUR/USD, GBP/USD and GBP/JPY
Trading Sessions: EURO and US
Timeframe: 
5 Min
Indicators: Bollinger Bands (default settings)

Rules For Long Trades

1) Bollinger Bands must slope up.
2) Go long when the price touches the middle BB band from above.
3) Set stop loss at the lower band or max 15 pips (whatever comes first).
4) Take profit at the upper band.

Rules For Short Trades

1) Bollinger Bands must slope down.
2) Go short when the price touches the middle BB band from below.
3) Set stop loss at the upper band or max 15 pips (whatever comes first).
4) Take profit at the lower band.

EURO/USD Trades Explained (see picture above)

Trade 1: Bands slope up >> long at 1.3981 (middle band).
Stop loss at the lower band or max 15 pips.
Closed at the upper band 1.3999 for 18 pips profit.

 

Trade 2: Bands slope down >> short at 1.3986 (middle band).
Stop loss at the lower band or max 15 pips.
Closed at the lower band 1.3971 for 15 pips profit.

Trade 3: Bands slope down >> short at 1.3982 (middle band).
Stop loss at the lower band or max 15 pips.
Closed at the lower band 1.3964 for 18 pips profit.

Trade 4: Bands slope down >> short at 1.3975 (middle band).
Stop loss at the lower band or max 15 pips.
Closed at the lower band 1.3958 for 17 pips profit.

Trade 5: Bands slope down >> short at 1.3965 (middle band).
Stop loss at the lower band or max 15 pips.
Closed at the lower band 1.3950 for 15 pips profit.

Trade 6: Bands slope down >> short at 1.3941 (middle band).
Stop loss at the lower band or max 15 pips.
Stopped out the at upper band 1.3950 for 9 pips loss.

Total Trading Results:

+74 pips in 6 hours of scalping the EUR/USD 5 min chart

 

 

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Comments: 1
  • #1

    vishnugopan (Wednesday, 14 January 2015 07:42)

    nice scalping