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 (lets 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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