After hours forex scalping strategy during the forex after hours. In particular between 7: 00 PM EST and 0: 00 AM EST. The strategy works counter-trend and trades short at the top of the range and long at the bottom of the range.
Currency Pairs:EUR/USD, EUR/CHF, AUD/USD, EUR/GBP.
Time to Trade: Between 7: 00 PM EST and 0: 00 AM EST (5 hours)
Time Frame : 5 Min or 15 Min
Rules for Setup Chart
• Mark off the high-low range between 4PM EST and 7PM EST.
• Important! The range should be at least 20 pips, otherwise no trading.
• Trade the range between 7: 00 PM EST and 0: 00 AM EST.
• We'd like to go short at the top of the 4PM EST and 7PM EST trading range.
• We'd like to long at the bottom of the 4PM EST and 7PM EST trading range.
• Stop trading at 0: 00 AM EST.
Forex Indicator
Stochastic Oscillator. 5,3,3.
Buy
Go long immediately after the euro/dollar touches the range low.
Stochastic fast crosses upward (optional)
Look to scalp 8-15 pips.
Place stop loss 12 pips below the low of the trading range.
Sell
Go short immediately after the euro/dollar touches the range high.
Stochastic fast crosses downward (optional)
Look to scalp 8 -15 pips.
Place stop loss 12 pips above the high of the trading range.
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