Daily Scalping with Price Action

The idea is to delay your entry until the direction of the day's price action is clearly established. In that regard we are going to wait until the price actually breaks through
yesterday's high or low by 25 pips then hitch our wagons to the day's remaining rise or fall.
Long Entry:
 If the price has broken yesterday's high and is rising, we'll open a long position.
Short Entry:
 If the price has broken yesterday's low and is falling , we'll open a short position.
The old saying, “go with the flow” applies, but traders use their own
saying that says, “the trend is your friend”. With this strategy it certainly is and not being the kind of people who want to argue, we'll gladly hitch our wagons to the trend and ride with it for the rest of the day.
Daily Scalping with Price Action
Today's candle (green) opened at 1.78285, dipped to 1.77826, but then stopped and reversed, heading sharply higher. If you had opened a short position when today's candle opened you would have had a winner at first, but when the price stopped and reversed
your winner would have quickly turned into a loser. By waiting for the dominant trend to establish itself you would have avoided the dangerous stop and reverse and hitched on to the real daily trend which was UP.
When the price rose past 1.8032 our long entry order was triggered and we rode it out to our take profit price of 1.8082, a 50 pip profit.
A short trade never opened because today's price never reached below yesterday's low let
alone reaching 25 pips below that at 1.7705. Meanwhile, the long trade did not open until the price rose up to 1.8032, which represented a clear break from yesterday's high.
Now I know you're already saying, “Fine we made a 50 pip profit, but what about the rest of
the day! You're giving up a lot of profit!”.
Daily Scalping with Price Action
Profit Target 50 pips
Stop loss for buy 2 pips below the low of the bar entry.
Stop loss for sell 2 pip above the high of the bar entry.
Move stop loss at entry price after 30 pips in gain.

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