New York Session Forex Scalping Strategy
This is a scalping method wherein you have to use EMAs or exponential moving averages to identify a trend. This system works on EURUSD and GBPUSD pairs. Use this strategy during New York session. You can use this on a 5-minute chart.
Forex Indicators:
- Heiken Ashi;
- Exponential Moving Average 5 periods;
- Exponential Moving Average 10 periods;
- EMA Crossover Signal (4, 8, signal true);
- MACD (Fast EMA 9, Slow EMA 26, Signal SMA 9);
- Stochastic Oscillator (10, 3, 3, High/Low);
- Relative Strength Index (9 periods).
Long Entry:
- Heiken Ashi must be green.
- The stochastic oscillator must cross upward.
- Relative Strength Index (9 periods) is greater than 50-level.
Short Entry:
- Heiken Ashi must be red.
- The stochastic oscillator must cross downward.
- Relative Strength Index (9 periods) is less than 50-level.
Exit position:
- Exit the trade at the opposite arrow or quick take profit.
- Place initial stop loss below the previous swing.
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