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