This “Forex SnakeForce” system is an intraday trading strategy. Intraday is another way of saying “within the day.” Intraday price movements are particularly important to short-term traders looking to make many trades over the course of a single trading session.
Forex scalping is a trading strategy used by forex traders to buy or sell a currency pair and then hold it for a short period of time in an attempt to make a profit. A forex scalper looks to make a large number of trades and earn a small profit each time.
- Time Frame: M5, M15, M30, and H1
- Currency Pairs: GBPUSD and EURUSD
- Bollinger Bands
- ang Zad
- SHI Silver TrendSigAlert
- SDX TzPivots
- MACD ColorHist Alert
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- Use a demo account or a small live account first to practice this trading system
- SnakeForce lime color histogram
- Price break the upper band “Bollinger Bands”.
- The blue line ang Zad > the red line
- MACD ColorHist Alert bullish
- MACD histogram lime color
- Fast MA > Slow MA
- SnakeForce red color histogram
- Price break the lower band “Bollinger Bands”.
- The blue line ang Zad < the red line
- MACD ColorHist Alert bearish
- MACD histogram red color
- Fast MA < Slow MA
In such cases pivot points can come to your aid as pivot point and the associated resistance and support levels remain static during the selected time period.
If you are using daily pivot point then during next 24 hours, the resistance and support levels remain same and you can use those as your stop-loss level and profit targets.