Snake Eye Scalping Trading System is a scalping forex strategy and work also for following trend
Time Frame : 5 – 15 M
Pairs : All Pairs
Rule For Entry :
Entry Buy :
To take a long trade (buy), the price bars must be trading above the upper grabline
on the 5-minute chart, which indicates strength. At least one price bar must be fully
formed, closed and sitting above on top of the line to allow a conservative trade – 2 bars for a more conservative trade.
Entry Sell :
To take a short trade (sell), the price bars must be trading below the lower grab line
on the 5-minute bar chart, which indicates weakness. At least one price bar must be fully formed, closed and sitting below the line to allow a conservative trade – 2 bars for a more conservative trade.
Stop Loss :
As soon as a trade is entered into, immediately place a stop loss order for whatever
amount suits your personal risk tolerance. The method allows at least 2 points. This is
very important for peace of mind and to limit your downside risk.
Once your trade is a few points profitable, it may be possible to move your stop to
breakeven, but care should be taken to avoid being stopped out too soon and possibly
causing you to miss a good run.
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