1 minute momentum scalping - MT4/MT5 resources
Chart settings
- 5m candlestick chart with 5 and 12 EMA, RSI (20)
- 1m Heiken Ashi, 8, 21EMA, 50 SMA
- 30s Heiken Ashi has 8 and 21 EMA
Rules/Sequence of Events
Enter with 5M trend. The trend is defined by the MA and RSI below 50.
1) Strong measures
2) Obvious retrace on 1M
3) Momentum restored
4) Hide traceback (only displayed on 30S)
5) Enter on the breakout of the first 30 second candle to restore momentum color
6) SL = 5
7) Exit half way with 5 pips profit, stop loss until breakeven
Comment
Days without any significant news can be volatile, and ranges are not suitable for this approach.
Trading only takes place between 8:00 AM and 12:00 PM ET.
Be careful before important news comes and always know when it's coming.
The rules have changed a lot, but I've recorded all my moves so you can see how I arrived at the current rules.
http://www.forexfactory.com/attachme...5&d=1281014907
http://www.forexfactory.com/attachme...7&d=1281020968
http://www.forexfactory.com/attachme...8&d=1280838044
























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