Open Scalping Strategy

BASIC STRATEGY GUIDELINES

1. TIMEFRAME: D1
ZOOM INTO smaller timeframe like M5 or M15 to see better.

2. StopLoss & TakeProfit
7-10 Pips

3. No Trading on Sunday or First Day of the Week
NOTE: You can trade Sunday, This is just my personal preference to avoid sunday candle confusion

BUY RULES
1. Previous day's Close Above Monthly and Weekly Open
2. Buy 1 tick above the previous days HIGH

EXAMPLE

1. Close Yesterday was above Weekly & Monthly Open Lines
2. Yesterdays High is 0.89620
3. Buy TODAY if Price goes 1 Tick Above Yesterdays High. Or Buy if Price goes at least 0.89621

Attached Image (click to enlarge)

Attached Image (click to enlarge)



SELL RULES
1. Previous day's Close Below Monthly and Weekly Open
2. Sell 1 tick above the previous days LOW

EXAMPLE

1. Close Yesterday was below Weekly & Monthly Open Lines
2. Yesterdays Low is 1.35608
3. Sell TODAY if Price goes 1 Tick Below Yesterdays Low. Or Sell if Price goes at least 1.35607

Attached Image (click to enlarge)

Attached Image (click to enlarge)



SECOND TRADE STRATEGY

FOR TESTING PURPOSES ONLY AND NOT YET TESTED, TRADE AT OWN RISK
LOGIC: If the first breakout attempt was a bit "SHY", the second attempt should be stronger

1. IF First Trade was A Loss, Open another Trade on the SAME Level of the First Trade
2. Set StopLoss Same as Previous
3. Increase Takeprofit By 50%

FIRST TRADE HIT STOPLOSS (-10Pips)
Attached Image (click to enlarge)


PREPARE 2ND TRADE
Attached Image (click to enlarge)


2ND TRADE WON (+15 Pips)
Attached Image (click to enlarge)