5 # Open Range Scalp Trading System
Range Breakout
Time Sensitive Method
This method it’s easy It differs from the usual notions of opening range breakouts in that profits are taken so quickly that the trade lasts no more than 1 minute.
Pairs: Major with spread < 0.0001 (EUR/USD).
Setup: Wait for the first 15miute range to form from the open (London Open, New York open).
Entry: Enter on a buy stop 1 pips above the high of the first 15 min range or Enter on a sell stop 1 pips below the low of the first 15 min range.
Profit Exit: close out positions on an immediate 5-pips profit.
Stop loss: exit for loss on a 5 pips loss from entry or, exit if trade is open for more then one minute.
Re-entry: On being stopped out, look for the usual breakout in the opposite end of the opening range. I Same exit rules apply.
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Write a comment
achmad baihaqi (Saturday, 16 February 2013 05:12)
I WANT FOREX SIGNALS PLEASE
MathTrader7 (Friday, 22 August 2014 12:23)
Seems a good scalping strategy! I earned some pips, thanks!