Spike Forex Scalping
A comparatively large and sharp rise or fall of a price in a short period of
Body of the candle must be smaller than the spike.
When the prices reach the previous
support or resistance, wait for the current candlestick to form a long spike but return to it’s starting point. When the candle closes above an support or below an resistance you can scalp in the opposite directions of the spike.
Stop Loss: 2 pips above or belove the spike.
Profit target 6 -9 pips ( Aud/USD 6 pips, EUR/USD 8 pips, GBP/USD 9 pips, GBP/JPY 11 pips, EUR/JPY 9
In the pictures Spike Forex Scalping in action.
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- Platform: Metatrader4
- Currency pairs: Any pairs, indices and metals
- Trading Time: Around the clock
- Recommended broker: icmarkets, XM
- How to install MT4 indicator?
- 1. On the desktop, double-click to open the MT4 trading platform software you installed.
- 2. Click on “File” – “Open Data Folder” in the upper left corner, double-click the MQL4 folder, and double-click the Indicators folder
- 3. Copy the metrics you need to install to the Indicators folder
- 4. Open MT4, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
- 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window