Forex Strategies Resources

33# The 3°Candle Scalping Trading System

3°Candle Scalping

Submit by Joy22

 

Time Frame: 5, 15min

Pairs: AUD/USD, GBP/USD, EUR/USD

 

Rules:

Identify the 3° Candle;

Place a trade at the start of the 3° Candle;

Take Profit at 10 pips or move stop to be at 10 pips;

Use stochastic as filter (9,3,3,)

 

 

Identify the first Candle

In order to find the 3° Candle, we need to know where to find the firs candle.

Look at the following chart: The yellow arrow is pointing at the firs candle up or down.

 

3° Candle
3° Candle
First Candle
First Candle

 

 

The first candle is located between 2° candles and it is the highest of the 3°.

 

To The right of the first candle is the second candle. The following candle is the 3°Candle. This candle is very significant, so we buil the strategy on the candle.

 

1°,2°,3°, Candle
1°,2°,3°, Candle

 

 

The following Chart shows all possible 3° candles. Them are great trade opportunities.

All of them produce more than 10 pips each.

 

If you understand how to identify the 3° candle, let start trading.

Red (short pointing down) arrows are your 3° candles.

Yellows arrows are your 3° candles. Buy at the start of this 3° candle.

3° Candles
3° Candles

 

 

 

3° Candle and stochastic fillter
3° Candle and stochastic fillter

Stochastic

To help better filter trades. Buy at the cross of 20 to the upside and sell at the cross of 80 to the downside. (Setting 5,3,3 or 9,3,3,). The arrows shows the relationship between the stochastic and 3° Candle. A 3° Candle usually appears while the stochastic is crossing either 80 or 20 making these 2 a perfect match.

 

 

Take Profit

After you place a trade, you can manage them in 3 wys.

  1. Take 10 pips profit target.

  2. Move stop to break even after 10 pips.

  3. Trail trades at 10 pips or more.

Stop loss

For Long Entry to place stop loss below the 1° Candle.

For Short Entry to place stop loss above the 1° Candle.

 

 

 

Share your opinion, can help everyone to understand the forex strategy.

Write a comment

Comments: 14

  • #1

    Rakesh (Wednesday, 21 December 2011 13:21)

    can u send me the indicator for this strategy.
    email id :- mail2me.rakesh@yahoo.com

  • #2

    mil (Sunday, 01 April 2012 17:58)

    jestemilind@yahoo.ca

    pl.inform where can i obtain the indicators and template for the aove system?

  • #3

    Jose (Tuesday, 03 April 2012 20:15)

    Do you use this strategy only in London session or in many other sessions?. I suppose in Tokyo session would be more difficult to gain 10 pips because the market goes slowly. Thanks.

  • #4

    edi (Monday, 28 May 2012 06:43)

    can you give the download link?

  • #5

    Sugi Haryono (Tuesday, 18 September 2012 21:02)

    Please guys........would you send this indicator to my email sugiharyono@yahoo.co.id I need it very much.........please, please, please.......

  • #6

    sumarmo (Friday, 09 November 2012 13:11)

    Please ........send this indicator to my email : tujuh_dua@yahoo.co.id, thanks.

  • #7

    Vladimir (Monday, 26 November 2012 05:53)

    Good afternoon.
    Can I ask you to get indicators and a template for the system.
    Thanks in advance.
    Sincerely, Vladimir :volodymyrpetrosyants726@gmail.com



    Sincerely, Vladimir

  • #8

    munandar (Friday, 14 December 2012 08:41)

    may I try your system? if I may please send it to my email, thanks munandar446@yahoo.co.id

  • #9

    tobeeme (Tuesday, 08 January 2013 01:45)

    Hey guys. Everything you need for this strategy, is readily and easily available on your MT4 platform. The arrows and ticks on the screen shots are not part of the system, but there only for illustration.

  • #10

    Wartono (Thursday, 17 January 2013 11:38)

    Hello,
    Why don,t you share the indicator here?
    We can try it together and share results.
    Please,send me the indicator to my email:wrt0306@gmail.com
    Thanks ...good luck!

  • #11

    verry (Monday, 25 February 2013 06:57)

    Please,send me the indicator to my email:adi.fers@gmail.com
    Thanks ...good luck!

  • #12

    said muhammad al habsyi (Thursday, 28 February 2013 08:59)

    can u send me the indicators and tempalte for this strategy ?
    email id :saidmuhammadalhabsyi@gmail.com

  • #13

    yusee hanna (Wednesday, 17 April 2013 21:49)

    dear sir
    will you send me the indicator becuase i think its the best that i have read yet.my email is marsel_600@hotmail.com

    thank you

  • #14

    Anak (Friday, 19 April 2013 16:14)

    Hello
    Please,send me the indicator and template to my email : anaketun@gmail.com
    Thanks u for ur kindness

  • loading