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Psychological levels idea for scalping

Psychological levels idea for scalping is trading system for day traders and scalper.
For trading use the following levels:  00, 25, 50, 75, 00. 
The best psychological levels are 50 and 00 levels.
Trading with these levels in trend never trade against the intraday trend.
Time frame 15 min or 30 min.
Draws the orizzontal line on the levels: 00, 25, 50, 75, 00.
ad. two exponential moving averages: 11 EMA short, 50 EMA slow.
Trades only in the direction of the trend.
EMA11>EMA 50 trend is up.
EMA11<EMA 50 trend is down.

Buy
When the trend is up and the price is above the EMA's , enter a buy position (position A) at significant support level (e.g 1.3300, 50, 75,00).
trail the stop. SL will always be at 25 pips away from the price. Target profit  pips before the next psycological level.
Sell
When the trend is down and the price is below the EMA's, enter a sell position (position A) at significant support level (e.g 1.3300, 50, 75,00). Trail the stop. SL will always be at 25 pips away from the price. Target profit  before the next psycological level.
Psychological levels idea for scalping can be manage also with martingala (range of the multiplier min 1.4 max 2.0). This system can be winning but needs a lot of practice on a demo account because it is very speculative. To decrease the number of operations you can consider levels 00 and 50.
See example in the pictures.
Psychological levels idea for scalping
Psychological levels idea for scalping
Psychological levels idea for scalping



Psychological levels idea for scalping Reviewed by learn forex trading on April 29, 2017 Rating: 5

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