20 Pips Double EMA Forex Scalping System - Top Rated Forex Offers FREE Forex Signals , Systems , Indicators , Expert Advisors And Forex News

20 Pips Double EMA Forex Scalping System

An easy to follow forex scalping system that consists of two exponential moving averages and one trading oscillator. We will be using the two EMA’s for trend direction and the oscillator to pinpoint the entry point.

Chart Setup

Indicators: 48 period EMA, 16 period EMA, laquerre
Preferred time frame(s): 5 min
Trading sessions: London, US
Preferred Currency pairs: low spread pairs (EUR/USD, USD/JPY, GBP/USD, AUD/USD)

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Example: EUR/USD 5 Min Chart

20-pips-forex-scalping-system

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Trading Rules

Buy Scenario:

  • EMA 16 above EMA 48 (short-term bullish)
  • Closing price above the EMA 16
  • Laquerre oscillator above 0.8 level

==> Go long at the open of the next candlestick.

Stop-Loss: Place a low risk stop below the most recent swing low or 20-30 pips below the entry point.

Price Objective: Close 50% of the trade at 20 pips profit. Close the remaining half when the EMA 16 crosses the EMA 48 from above (short-term bearish).

Sell Scenario:

  • EMA 16 below EMA 48 (short-term bearish)
  • Closing price below the EMA 16
  • Laquerre oscillator below 0.2 level

==> Open sell order at the open of the next candlestick.

Stop-Loss: Place a low risk stop above the most recent swing high or 20-30 pips above the entry point.

Price Objective: Close 50% of the trade at 20 pips profit. Close the remaining half when the EMA 16 crosses the EMA 48 from below (short-term bullish).

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Source : ForexLeaks.info

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