5 # Open Range Scalp Trading System
Submit by ForexStrategiesresources
Time Sensitive Method
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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