Scalping method with Support and Resistance

Time Frame 5 min or higher.

Currency pairs: majors.

Trading Rules

Entry when the price bounce on support and resistance.

Price has memory.

Support and Resistance lines are to be understood as the range of 3-5 pips price.

Buy

I enter the trade. If it’s a buy I mark the last swing high price made and look for price to find support on the previous high. If price breaks below then an aggressive exit would be there. If it breaks below and comes back and finds resistance then it is definitely time to get out.

Sell

If it’s a sell I mark the last swing low price made and look for price to find resistance on the

previous low. If price breaks above then an aggressive exit would be there. If it breaks above

and comes back and finds support then it is definitely time to get out.

Price bounce on support and resistance

MT4 Strategy

Indicators

Supprt RT (25 period)

PT 8- 14 pips dependes by pair.

Place initial stop loss 5 pips above/below the SR lines.

Below the link for download the template MT4 with indicators MT4.

https://drive.google.com/file/d/0Bwjv2Pbf48itbHNHVjRFMUtEQkU/view?usp=sharing