This forex scalping method is called the High Frequency Support And Resistance Forex Scalping System. There’s only one indicator you need, called the support and resistance indicator.
You are looking for 7-10 pips of profit for each trade you take. Therefore it is important that you only trade this system with currencies that have lower spreads like the EURSUD, GBPUSD, USDJPY AUDUSD, USDCHF.
Setting Up Your Trading Charts
Here’s what you need to use this scalping system…
Indicators: Support and Resistance (Barry)
Timeframes: 1 minute
Trading Sessions: UK and US
Currency Pairs: lower spread currency pairs
Here’s an example of how 1 minute high frequency forex scalping system works:
Long (Buying) Rules
- support and resistance indicator will form a red dotted line (resistance lines)
- then wait for a 1 minute candlestick to close above this red dotted line.
- enter a market buy trade and place stop loss 7 pips below your entry price
- Profit target: aim for 7-10 pips profit on each trade.
Short (Selling) Rules
- support and resistance indicator will form a blue dotted line (support line)
- then wait for a 1 minute candlestick to close below this blue dotted line.
- enter a market sell trade and place stop loss 7 pips above your entry price
- Profit target: aim for 7-10 pips profit on each trade.
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