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Scalping system #6 (EMA Bands)

This scalping system was sent by Frank Tenerife (Spain).

Thank you Frank! You contribution is greatly appreciated!

Here is the system:

"This is an efficient system of scalping that works in 1 minute up to 1 day all periods and all Currency pairs

Ema 3
Ema 5
Ema 7
Ema 9
Ema 11
Ema 13
Color yellow


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Although the strategy doesn't suggest so, you may use mentioned approach and look at larger time frame for directional confirmation. This would indeed increase odds in your favour as you'll be taking only those trades that run with a larger trend and avoid trading on price corrections.

Regards,
Edward

Thank you.
Also, I' like to know what you use to determine the trend, 55 EMA, parabolic SAR (if yes with which settings..)?

Trend is determined with a help of 55 EMA: long when above 55 EMA, short - below it.

Regards,
Edward

Edward, sir
New at this , but this mult. Ema's looks good..
Using usd/jpy to practise with.
Not sure of pip value , though , when aiming for 10 Pip target . If price goes from 168 to 169 on USD/JPY is that one Pip ? The decimals are confusing me .
Thanks for helping new guy .

Paul

Hi Paul
you count decimals in: when USDJPY moves from 168 to 169 you have 100 pips.
When price moves from 168.20 to 168.25 it is 5 pips.

Regards,
Edward

Thanx Edward R.

OK , i am getting the feel of the " squeezes " on yellow and green lines on 5 minute chart . Now YOU suggest using confirmation of trend using 30 min bar or candle . So if I see a squeeze setting up say aound 7 00 and 7 05 or so for a potential Buy . I NOW go to the 30 min. chart at 7 00 and that bar or candle should be an up ( GREEN ) bar or candle. Is that all the confirmation of the trend I need ??
Thanks .

Paul

What happened to my SECOND comment several days ago ? Why was it not posted ?

Paul

what happened to my last 2 comments ????

paul