Sunday, September 24, 2017

How To Scalp The EURUSD using Multiple Hit Candlesticks

April 10, 2017 by  
Filed under Forex FAQ & Latest Post, Fx Indicator


After trading for so many years and after looking at the EURUSD chart for so many years as well. I will have some observation at times which eventually turns into a strategy for me to use.

In this post, I will like to share with you guys one great scalping techniques that I have learned from one of the many observations so that you can make some money from the market as a new trader.

Step 1: Identification of Multiple Hits Candles

In order to use this technique, you must be able to identify Multiple Hits Candlesticks pattern

In order to qualify for the multiple hits, you must see at least 6  candlesticks hitting the same level with at most 2 candle interval which must be very close to the level. This is a sign of a strong S&R level. Most importantly, the

Step 2: Enter a trade based on the repulsion

Whenever this patterns occur, it is very common for the price to get repelled by that level. I will suggest that you take profit at around 15 pips per trade.

Below are some trades example

Although this has a very high winning percentage, there are still losing trades based on this strategy. If you have been reading my blog, you should know that there is no strategy that wins 100% of the time.

If you are unable to accept this fact, you should not go into trading. You do not need to win 100% of the time to make money from trading. As long as your strategy has a high risk reward ratio, you will be able to make money every month even if the strategy has a winning percentage of 50%.

Therefore I will like to take this opportunity to let you guys know that the most important thing is not the winning percentage of the strategy but the risk reward ratio

Comments

14 Responses to “How To Scalp The EURUSD using Multiple Hit Candlesticks”
  1. MCcain says:

    Hi Kelvin
    What size of FX account would bring me a $600 profit in trade like the guy in the comment above ?
    thanks in advance!

    • Lee Kelvin says:

      Hi Mccain

      It depends on the profit pips per trade. For that trade which Kenny made $600, he has $3,000 in his account

  2. Joe says:

    Hi Kelvin

    Thks for sharing your observation.

    I will be taking your course this week after I got my pay. Actually I am recommended by Timmy who is your student and he is making profits from your strategies.

    See you in your course

  3. Kenny says:

    Hi Kelvin

    Great techniques as usual.

    Thks for making me $600 yesterday with your trade copier service

  4. bambang says:

    do you use M15?

  5. ernie says:

    I an see this working if trading certain times .

    • Lee Kelvin says:

      Hi Ernie

      Actually this technique works at any time and therefore you do not need to wait for certain session to use it

  6. Anne Fx says:

    What is the ideal timeframe for this scalping strategy?

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!