Daily Scalping Asian Highs and Asian Lows 2 - Do you want simplicity? (Daily Scalping the Asian High and Asian)

This is a method that ignores Fibonacci, trend lines, chart patterns, and all oscillators. While you can change the Asia High Asia Low (what I call AHAL) system however you want by adding your own rules, there is no doubt about the profitability of this system.

Let's not waste time learning about the new settings:

Determine the high and low of the day during the Asian session

Using 2100 GMT as the start time of the new daily candle (0600 GMT), you will be able to determine the day's high/low during the Asian session before 0600 GMT.

entry and exit

I added a moving average to spot high probability setups and thus avoid entering any counter-trend positions. The moving average we will use on the hourly chart is the 55-EMA. All you need to do is use the EMA on the hourly chart to identify the trend, then switch to the 5-minute timeframe and place an order to buy on the Asian highs or sell on the Asian lows (this system will usually generate at least 10 pips for you):

Pay the bill

1. The 55-EMA on the hourly chart is in uptrend mode
2. Place buy orders at high Asian ask prices
3. Set stop loss 30 pips from Asian highs
4. Set the first profit target to 15 pips
5. Set the second profit target at the next intermediate pivot price level or the next pivot point
6. Move stop loss to achieve breakeven after reaching first target profit
7. If the close is below the nearest pivot point, exit the secondary trade at the close of the 5-minute bar

sell order

1. The 55-EMA on the hourly chart is in downtrend mode
2. Set it as the lowest buying price in Asia
3. Set stop loss 30 pips from lowest price
4. Set the first profit target to 15 pips and the second profit target to the next intermediate pivot price level or the next pivot point
5. Move stop loss to achieve breakeven after reaching first target profit
6. If the close is above the nearest pivot point, exit the secondary trade at the close of the 5-minute bar

trading pair

1. GBP to USD
2. Works on other currency pairs, but try using different Stop Loss and Take Profit.