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Scalping

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@yokoyi - 1 year ago
Quoted - yokoyi

New Trade: EUR/USD Scalping

On the EUR/USD 15 minute chart, I spot a potential area of value marked by the yellow square on the left so i call it our SUPPORT LINE. This support line coincides with where the price was at the moment (yellow square on the right).

Price is falling but I expect a reversal when the price hits the support, so i Place a Buy Order at the point of value

I set my stop loss & take profit

The Take Profit (TP) is set at the first lower wick in the upward direction

The Stop Loss (SL) is set below the lower wick of the current candle

I expect price to reverse upward and hit my TP

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@yokoyi - 1 year ago

Price begins to reverse and move upward and eventually hits my Take Profit so i exit with a profit

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@yokoyi - 1 year ago

Price keeps surging upward even after Hitting My Take Profit.

This is evidence that the area of support that it bounced off is really credible and should be marked for future use later in the day

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