Get Profits with Forex Scalping

Get Profits with Forex Scalping

Being a trader might be a little bit difficult, including when you play forex. Perhaps you have tried the day trading method and have not got huge profit. Instead of giving up and forget your dream, it is better for you to try the other forex approaches. Here, you can win the battle with Forex scalping. This method is really effective and also fun to do. It enables you to train your intuition and brave.

What is Forex Scalping?

Scalping is a term to describe the skimming of small profits on the market by going in and out of positions several times a day. Scalpers play the game by seeking small profits multiple times in a session. Particularly in Forex scalping, the scalpers search and catch the high-velocity moves which occur on the release of economic data and the other important news. Usually, scalpers try and scalp between five and ten pips from each trade. Furthermore, they repeat the process multiple times throughout the day.

Still confuse about Forex scalping? Here, there is an example for you. Say, a scalper gets five pips on one standard lot, in which the average value of a pip is about $10. Thus, for every five pips of the profit made, a scalper is able to earn $50 at a time. Multiple it ten times a day, then the scalper gets $500. Imagine when the scalper has more sources.

More Information about Forex Scalping

Even though it is not difficult to do Forex scalping, you have to put in your mind that the style is quite different. At first, you are required to have the extra patience. Why? It is because a scalper needs to sit in front of a computer for the entire session. You have to concentrate for every movement and even check the small details.

It needs intense concentration to scalp. In addition, having a great reflex is a must. A scalper must react very quickly. Do not ever let your guard down and do not over-analyzed. When you get the timing, just take it without thinking anymore. Cut the best position and get your profit. Do not ever hesitate or you will lose your moment.

When you want to start Forex scalping, make sure that you have a very reliable access to the market makers. Choose a platform that enables you to do the fast buying or selling. Remember, every second is really precious for the scalper. Usually, the platform has a buy button and a sell button for each currency pairs. The traders only have to hit the right button for entering or exiting a position.

Next, it is important for you to know the direction. Follow the trend is vital in Forex scalping, especially when you are a beginner. You are able to know the trend by setting up a weekly and a daily time chart plus insert the trend lines, Fibonacci levels and the moving averages. The following step is preparing ten minute and one minute chart. The ten-minute chart is functioned to show you the direction of the current market situation while the one-minute chart to enter and exit the trades.

New Ideas Into Forex Scalping Strategies Never Before Revealed

Essentially, scalping is a way of making a lot of trades in the span of a day using only smaller timeframes to earn modest profits just a few pips. Although similar, scalping isn’t the exact same as day trading. Hence, it’s not advised to attempt forex scalping. Forex scalping can be viewed in two trading styles. Forex Scalping may also be known as a quick trading. Forex scalping is just one of the most important small business units for all of the big day-trading financial institutions as Forex scalping strategies spread the financial risk over the full trading portfolio and minimizes the odds of locating an entire loss. Forex 1 Minute Scalping is the most fundamental and the most resourceful trading strategy, as with it you should spend tons of time before your PC.

Completely change your trading and receive an expert ECN account is my advice if you want to use scalping as one of your strategies. To make sure that you gain from your trading, make sure your trading style meets all the demands of the broker and it’s up to you whether you create a swing investor or a cool-cool trader with his cool Forex scalping strategies. Your true trading might cause losses as no trading process is guaranteed.

Whether you’re considered a trader or not, it ought to be pointed that this sort of information is well worth knowing. Thus the trader should do proper analysis on the crucial support and resistance levels before purchasing any opportunity that appears. To be successful with this sort of price action scalping technique it is quite essential that the trader is knowledgeable about the many candlestick patterns. Most traders fail since they lack discipline.

You merely wish to be trading whenever the marketplace is active and has liquidity. Scalping the forex market has turned into a favorite means of trading among traders. Regardless of what anyone says, playing on the Forex market isn’t a way to create easy money.

The Hidden Truth About Forex Scalping Strategies

There are lots of trading strategies you may employ. This way you can be in a position to decide on the strategy which best suits you as a trading individual. There are several trading strategies that can qualify for a scalping process.

When a strategy doesn’t appear to lie in your very best interest, then it isn’t the perfect one for you. Since you may see, this strategy can be helpful and has an excellent potential. The strategies may also be automated or manual. These strategies need constant Forex market analysis and the trader also have to place many trades simultaneously. There are many strategies out there which can be employed by Forex traders.

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Murrey Math Lines 27.03.2020 (EURUSD, GBPUSD)

Murrey Math Lines 27.03.2020 (EURUSD, GBPUSD)

27.03.2020

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is heading towards the resistance at 3/8. In this case, the pair may rebound from this level and then resume falling towards the support at 1/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue growing to reach the resistance at 4/8.

EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 1/8 from the H4 chart.

EURUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD is moving below 3/8. The main scenario implies that the pair is expected to break 2/8 and then continue falling towards the support at 1/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue growing to reach the resistance at 4/8.

GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency towards 1/8.

GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Ichimoku Cloud Analysis 27.03.2020 (USDJPY, GBPUSD, USDCAD)

Ichimoku Cloud Analysis 27.03.2020 (USDJPY, GBPUSD, USDCAD)

27.03.2020

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 108.40; the instrument is moving below Ichimoku Cloud, thus indicating a bearish tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 109.05 and then resume moving downwards to reach 106.75. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 110.85. In this case, the pair may continue growing towards 111.75.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.2276; the instrument is moving above Ichimoku Cloud, thus indicating a bullish tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2125 and then resume moving upwards to reach 1.2605. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.1745. In this case, the pair may continue falling towards 1.1655.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3997; the instrument is moving below Ichimoku Cloud, thus indicating a bearish tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.4105 and then resume moving downwards to reach 1.3805. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 1.4305. In this case, the pair may continue growing towards 1.4415.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Forex Technical Analysis & Forecast 27.03.2020

Forex Technical Analysis & Forecast 27.03.2020

27.03.2020

EURUSD, “Euro vs US Dollar”

After completing the ascending structure at 1.0935 and forming a new consolidation range as an upside continuation pattern, EURUSD has broken it upwards; right now, it is still growing towards 1.1090. Possibly, today the pair may reach this level and then start a new decline towards 1.1015. Later, the market may form one more ascending structure with the target at 1.1125.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

After breaking 1.1981, GBPUSD is moving upwards to reach 1.2323. After that, the instrument may correct to the downside to return to 1.1981 and then form one more ascending structure with the target at 1.2505.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is falling to reach 0.9600. Later, the market may correct towards 0.9680 and then resume trading downwards with the target at 0.9530.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the descending structure at 108.40. Today, the pair may consolidate near the lows. If later the price breaks this range to the upside, the market may start another correction towards 110.10 and then resume falling to break 108.00. After that, the instrument may continue trading inside the downtrend with the target at 105.80.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues forming the fifth ascending wave towards 0.6136. After that, the instrument may correct to the downside with the target at 0.5822 and then resume trading upwards to reach 0.6060.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 78.00; by now, it has reached 77.20. Possibly, the pair may grow to reach 78.50 and then resume trading downwards to break 77.00. Later, the market may continue falling with the target at 75.50.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is still falling. Today, the pair may reach 1.4000. Later, the market may correct grow towards 1.4141 and then form a new descending structure with the target at 1.3780.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is consolidating above 1619.00. Possibly, the pair may grow towards 1645.00 and then start a new decline to break 1600.00. After that, the instrument may continue the correction with the target at 1551.00.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent falling. Possibly, today the pair may reach 25.25 and then form one more ascending structure to break 27.00. Later, the market may continue trading upwards with the target at 30.33.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still consolidating around 6600.00 without any particular direction. The main scenario implies that the instrument may resume growing to reach 7500.00 and then correct towards 5700.00.

BTCUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Japanese Candlesticks Analysis 27.03.2020 (GOLD, NZDUSD, GBPUSD)

Japanese Candlesticks Analysis 27.03.2020 (GOLD, NZDUSD, GBPUSD)

27.03.2020

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, Gold is still growing from the support level. After forming several reversal patterns, such as Hammer, the pair is reversing. At the moment, the price is testing another resistance level not far from a Hanging Man pattern. The current situation implies that the pair may reverse to start a slight correction and then continue forming the rising tendency. The correctional target may be at 1598.00. in the future, the next upside target may be at 1700.00.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, after forming a Doji reversal pattern not far from the resistance level, the pair continues growing. At the moment, NZDUSD is reversing. The correctional target may be at 0.5786. After finishing the correction, the price may resume trading upwards. In this case, the upside target will be at 0.6255.

NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the rising tendency continues. By now, GBPUSD has formed several reversal patterns, such as Hammer and Inverted Hammer, close to the support level. At the moment, the pair is reversing and testing the resistance level. There are no reversal patterns close to this level but the price may yet start a correction before further growth towards 1.2550. However, there is another scenario, which implies that the instrument may rebound from the resistance level and fall towards 1.1900.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Fibonacci Retracements Analysis 27.03.2020 (BITCOIN, ETHEREUM

Fibonacci Retracements Analysis 27.03.2020 (BITCOIN, ETHEREUM)

27.03.2020

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, after reaching the post-correctional extension area between 138.2% and 161.8% fibo at 4878.75 and 3929.75 respectively, BTCUSD is still correcting upwards. By now, it has slowed down a bit at 38.2% fibo but after a short pause may continue growing towards 50.0% and 61.8% fibo at 7210.70 and 7987.75 respectively. The support is the low at 3929.75.

BTCUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, there is a divergence on MACD, which may indicate a new pullback. The targets may be 23.6%, 38.2%, and 50.0% at 6378.80, 6009.60, and 5706.50 respectively. The resistance is the high at 6983.00.

BTCUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the H4 chart, after rebounding from the psychologically important level at 100.00, the pair is correcting. The first correctional wave has already reached 23.6% fibo; right now, the instrument is consolidating. The next correctional targets may be at 38.2% and 50.0% fibo at 166.13 and 189.40 respectively. The support is the low at 89.80.

ETHUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows more detailed structure of the current consolidation around 23.6% fibo.

ETHUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The Pound is not afraid for Johnson. Overview for 27.03.2020

The Pound is not afraid for Johnson. Overview for 27.03.2020

27.03.2020

GBPUSD continues to recover, ignoring the news about new outbreaks of the coronavirus.

The British Pound continues growing against the USD on Friday. The current quote for the instrument is 1.2227.

The national currency is not responding to the news that the British Prime Minister Boris Johnson was diagnosed with the coronavirus. The Pound remained indifferent, just like when it ignored a similar piece of news about Prince Charles.

Yesterday, the Bank of England had a scheduled meeting and decided to keep the key interest rate intact at 0.1%. The regulator has already revised the rate twice this month and the current value is the lowest ever, that’s why it was pointless to expect another cut. The Quantitative Easing program also remained unchanged at £645B.

The statistics published a bit earlier showed that the CPI in the United Kingdom in February was 1.7% y/y (the same as expected) after being 1.8% y/y in the previous month. The Core CPI also showed 1.7% y/y but still improved after being 1.5% y/y in January.

The PPI Input in February lost 1.2% m/m, better than expected but still worse than before. The PPI Output lost 0.3% m/m, although it wasn’t expected to change.

It can be clearly seen that manufacturers were the first to notice the contraction in demand and decided to revise prices in order not to increase stock reserves.

DAILY FREE FOREX SIGNALS – 27-03-2020

EURAUD SELL 1.81068
SL:1.86055
TP1:1.80779
TP2:1.80470

CADJPY SEEL: 77.145
SL: 78.063
TP1: 76.875
TP2: 76.622

AUDCAD BUY: 0.85814
SL: 0.84394
TP1: 0.86083
TP2: 0.86353

AUDJPY BUY: 66.300
SL: 65.581
TP1: 66.511
TP2: 66.729

USDJPY SELL 108.256
SL:112.505
TP1:108.070
TP2:107.931

GBPNZD BUY: 2.05534
SL: 2.03073
TP1: 2.05811
TP2: 2.06101

EURCHF SELL: 1.06150
SL: 1.06413
TP1: 1.05940
TP2: 1.05731

EURCAD SELL 1.54905
SL:1.56198
TP1:1.54735
TP2:1.54539

EURAUD SELL: 1.80217
SL: 1.84396
TP1: 1.79959
TP2: 1.79659

EURCAD SELL: 1.54825
SL: 1.55703
TP1: 1.54623
TP2: 1.54438

EURJPY SELL: 119.891
SL: 121.216
TP1: 119.644
TP2: 119.403

NZDJPY SELL: 64.644
SL: 65.435
TP1: 64.419
TP2: 64.203

Murrey Math Lines 25.03.2020 (USDJPY, USDCAD)

Murrey Math Lines 25.03.2020 (USDJPY, USDCAD)

25.03.2020

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is trading above 5/8. In this case, the price is expected to continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may continue trading downwards to reach the support at 5/8.

USDJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 8/8 from the H4 chart.

USDJPY_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

In the H4 chart, the pair is moving not far from 3/8. In this case, USDCAD may break this level and then continue falling towards the support at 2/8. However, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may trade upwards to reach the resistance at 5/8.

USDCAD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.

USDCAD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Japanese Candlesticks Analysis 25.03.2020 (USDCAD, AUDUSD, USDCHF)

Japanese Candlesticks Analysis 25.03.2020 (USDCAD, AUDUSD, USDCHF)

25.03.2020

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after updating its highs, USDCAD is still correcting; it has formed a Harami reversal pattern and right now is trying to reverse. In this case, the downside target is at 1.4290. The current situation implies that after testing the channel’s downside border the instrument may form a reversal pattern and then resume growing with the target at 1.4780.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, the pair continues the correction within the descending tendency. After completing a Hammer reversal pattern near the support level, AUDUSD is still reversing and testing the resistance level. Later, the price may complete the correction at 0.6077 and then resume trading upwards to reach 0.6270. Still, the instrument may choose a different scenario and continue falling towards 0.5752 or even 0.5520.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the pair is still forming a new ascending channel; by now, USDCHF has formed a Harami reversal pattern near the support level. The current situation suggests that the pair may reverse and then start a new growth with the target at 0.9950. However, one shouldn’t ignore another scenario, according to which the instrument may fall and return to 0.9739.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future