SCALPING with Fractals [5m Chart]
STEP 1 : Add Fractals to 5 min chart of any pair.
STEP 2 : When a Fractal appears on a CANDLE (let’s say Candle 1) wait for the Candle 2 to close.
STEP 3 : Now this is important …
Look at Candle 2 “body” close
… is it above or below (Fractal Candle) Candle 1 body ... open or close either side of Candle 1 … the "body of Candle 2 must Clearly" be above or below of Candle 1)
… take that direction trade "on Candle 3 open/ start".
For more clarification look at the attached image.
STEP 4 :
Target Profit :: 1 to 5+ pips … (remember this is a SCALPING Method)
S/L :: 15 pips
Trading Time :: Any time of the day (I personally avoid beginning and ending of the trading day)
The MOST IMPORTANT Final Step:
BACK TEST IT.
PRACTICE IT.
Add or change whatever you like.
This is just an idea for you guys … Learn from it or Leave it but please keep your focus on trading and positive contribution.
Any and all ideas and comments are welcome but as I said please the focus must be on trading.
Last edited by 01234; 06-30-2009 at 11:29 PM.
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