Euro/usd Forex Live Room scalp Trade from 3/22/2011
Hi All,
Here was a nice trade from earlier today during the U.S. session. There are 4 very simple points to look for in this trade setup. Often times you may only get 1 or 2 quality setups during a specific trading session. We waited about 1 hour for this set up and it paid off.
4 points which were noticed in our scalp analysis and may help you:
1.) Overall short term trend direction being effected by Moving average Bearish setup?
2.) Did a retracement against the trend follow?
3.) Retracement closing at some form of support/resistance depending on direction?
4.) Did candle close signal and exit for your trade? Two good candle stick patterns are hammer or shooting star. They basic but simple is better in my opinion.
We managed +24 pips in our room today on Euro Short, I hope you found this useful.
Regards
Brooklyn Trader
Hi All,
Here was a nice trade from earlier today during the U.S. session. There are 4 very simple points to look for in this trade setup. Often times you may only get 1 or 2 quality setups during a specific trading session. We waited about 1 hour for this set up and it paid off.
4 points which were noticed in our scalp analysis and may help you:
1.) Overall short term trend direction being effected by Moving average Bearish setup?
2.) Did a retracement against the trend follow?
3.) Retracement closing at some form of support/resistance depending on direction?
4.) Did candle close signal and exit for your trade? Two good candle stick patterns are hammer or shooting star. They basic but simple is better in my opinion.
We managed +24 pips in our room today on Euro Short, I hope you found this useful.
Regards
Brooklyn Trader