control, you want to buy. Even if it means your stop being hit, you have to stick to 1:3. Pairs, spreads, stops, and targets are all a very important part of this scalping strategy. Remember how I said that your risk to reward ratio must be 1:3 at a minimum? Lets start with the two golden rules of support and resistance. Scalping requires quick analysis, quick decisions, and quick trading. I wont lie though, scalp trading is so fast paced that it can become overwhelming. You also know what a trend continuation looks like. Well, some newbies make price action a lot more difficult than it needs.
Ideally you will want several bounces that line up nicely. Your spread must be included in your stop. Using candlestick analysis with support and resistance allows you to determine if the trend is still alive.
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In a bearish trend, sellers are in complete control of price. After the break, buyers pushed back up the the.7485 and tried to close above. The question only had three possible answers. With a two pip spread, you would end up having a three pip stop on some trades, which is simply not viable. However, being right does not matter at all. Here is a list of the pairs I luxemburg forex broker bgld trade with this strategy. We will be watching for price action signals which indicate a trend is strong.