Saturday, January 25, 2020 9:27:52 AM
My 3 favorite chart patterns for scalping.
1. The 123 breakout
Buy on a break above 2
Stop loss below point 3
Target at a 1:1 R/R
2. The horizontal flag
When you can take one candle and see at least 4 more candles contained inside the first candle, then you buy on a close above the range and a stop below the range.
I don't really have a set target. You can trail a moving average, or use pivots.
3. The .786-.886 pullback
Buy on a green candle at or above the .886 or .786
Stop loss below swing low bottom of fibs.
Target at the .236
1. The 123 breakout
Buy on a break above 2
Stop loss below point 3
Target at a 1:1 R/R
2. The horizontal flag
When you can take one candle and see at least 4 more candles contained inside the first candle, then you buy on a close above the range and a stop below the range.
I don't really have a set target. You can trail a moving average, or use pivots.
3. The .786-.886 pullback
Buy on a green candle at or above the .886 or .786
Stop loss below swing low bottom of fibs.
Target at the .236
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