Pink Scalping

Pink scalping is to trade a news release.
I usually change timeframes between 15 Minute and 1 Minute charts when I’m scalping.
If I want to trade a news release, I would have the 15 Minute and 5 Minute charts open.
Aside from the normal setup on 15 Minute charts, I also apply support and resistance lines following the fractals formed on the price. On the 15 Minute timeframe, I just place lines manually to indicate areas that have repeatedly served as areas of support and resistance. I also draw trendlines to indicate the price direction.

Indicators:
ADX (14),
EMA 14 close,
EMA 21 close,
EMA 40 close,
Trendline
Fractals or Swing High/Low
Pivot Points.

Pink scalping rules
I have two scalping methods of trading. The first method is used for scalping during
news releases and the other is for normal scalping.
News Straddle Approach
1. Set up a schedule for the day with high impact news releases for the EURUSD,
GBPUSD, AUDUSD, EURJPY, USDCAD and NZDUSD.
2. Five minutes before a high impact news release, place a pending buy and a pending
stop order, both 20 pips away from the price on the 5 Minute chart.
4. Set the stop losses 30 pips from the pending orders.
5. Wait for a trade to be entered then exit the trade manually with a profit of 5 pips or
more.
Normal Scalping Approach For Buy Trades
1. On the 15 Minute chart, check for any of the following signals:
a. The price is above the 21 period exponential moving average (dark orange or
red).
b. The 14 period moving average (magenta or purple) is above the 21 period
moving average. This indicates that the trend is an uptrend on the 15 Minute
timeframe. At times, I also use 5 and 8 period moving averages. They should be
above the 21 period moving average too.
c. The ADX is sloping up and is above the 30 level. This indicates that the uptrend
momentum is gaining strength.
d. The trendline indicator is slanting up. This also indicates that the trend is an
uptrend on the 15 Minute timeframe.
2. Go to the 1 Minute chart and check for the following signals:
a. The trendline indicator is slanting up, which indicates that the trend is an uptrend.
b. The ADX is sloping up or is above the 30 level.
3. Enter a buy trade on the 1 Minute chart when any one of the following conditions
occur:
a. The price breaks a resistance level or a previous swing high on the 1 Minute or
15 Minute timeframes.
b. The price bounced off from the lower trendline on the 1 Minute or 15 Minute
timeframes.
c. The price pulled back to the 21 EMA or a shorter period EMA on the 1 Minute or
15 Minute timeframes.
2. Set the stop loss level 30 pips below the price, or below the previous low. Move the
stop to the entry price (breakeven) at 5 pips profit.
3. Exit the trade at a profit of 5 pips or more.
Pink scalping
Pink scalping
In this example, the trendlines are going upward indicating that the main trend is an
uptrend on the 1 Minute and 15 Minute timeframes.
I noticed that the price had bounced from the lower trendline and was going up. Looking
at the ADX, it is also going up. So, once price had crossed above the moving averages,
I entered a buy trade before the candle closed.
I set my stop loss level below the swing lows. As soon as the trade reached 5 pips in
profit, I exited the trade.
This example is an ideal trade, but in case the price does not behave as expected, you
will have to take the profit that the market is willing to give you.
The news scalping strategy for a sell trade has the same guidelines with buy trades
because you enter both buy and sell pending orders every time.
Follow the guidelines below to enter trades without high impact news releases.
Normal Scalping Approach For Sell Trades
1. On the 15 Minute chart, check for any of the following signals:
a. The price is below the 21 period EMA (dark orange or red).
b. The 14 period moving average (magenta or purple) is below the 21 period
moving average. This indicates that the trend is a downtrend on the 15 Minute
timeframe. At times, I also use 5 and 8 period moving averages. They should be
below the 21 period moving average too.
c. The ADX is sloping up and is above the 30 level. This indicates that the
downtrend momentum is gaining strength.
d. The trendline indicator is slanting down. This also indicates that the trend is a
downtrend on the 15 Minute timeframe.
2. Go to the 1 Minute chart and check for the following signals:
a. The trendline indicator is slanting down, which indicates that the trend is a
downtrend.
b. The ADX is sloping up or is above the 30 level.
3. Enter a sell trade on the 1 Minute chart when any one of the following conditions
occur:
a. The price breaks a support level or a previous swing low on the 1 Minute or 15
Minute timeframes.
b. The price bounced off from the upper trendline on the 1 Minute or 15 Minute
timeframes.
c. The price pulled back to the 21 EMA or a shorter period EMA on the 1 Minute or
15 Minute timeframes.
2. Set the stop loss level 30 pips above the price, or above the previous high. Move the
stop to the entry price (breakeven) at 5 pips profit.
3. Exit the trade at a profit of 5 pips or more.
Pink Scalping
  
In this example, the trendlines on both 1 Minute and 15 Minute timeframes are going
downward indicating that the main trend is a downtrend.
After rejecting from an upper trendline, the price had crossed under the EMAs. The
EMAs are also beginning to form a downtrend.
The ADX is going up in the 1 Minute timeframe while it is already above 30 level in the
15 Minute timeframe. I entered a sell trade and set the stop loss level above the
previous swing high. As soon as the trade reached 5 pips in profit, I exited the trade.

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