20 Pips GBP/JPY Scalping Forex Strategy
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Old 04-29-2015, 06:15 PM
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Default 20 Pips GBP/JPY Scalping Forex Strategy

20 Pips GBP/JPY Scalping Forex Strategy
in Forex Scalping Strategies / by DolphinTrader /

The 20 Pips GBP/JPY scalping strategy is based on a very simple concept. We will be looking for strong trends first and then initiate buy and sell trades with the help of price action pinbars. Letís take a look at the setup.

Chart Setup

Indicators: PinBar, MAAngle
Preferred time frame(s): M5
Trading sessions: Euro, US
Preferred Currency pairs: GBP/JPY

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Download the 20 Pips GBP/JPY Scalping Forex Strategy.

Strategy Example

gbpjpy-20-pip-scalping-strategy

As shown in the GBP/JPY chart above, we had 2 buy winning trades for a net return of 40 pips (2*20). Click to enlarge the picture.

Trading Rules

Buy Rules:

MAAngle must be green colored.
Green pinbar appears on the chart

Enter buy trade. Place stop-loss 3 pips below the green pin bar.
Target: Go for 20 pips or more.

Sell Rules:

MAAngle must be red colored.
Red pinbar appears on the chart

Enter sell trade. Place stop-loss 3 pips above the red pin bar.
Target: Go for 20 pips or more.
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Old 05-12-2016, 09:06 PM
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This method is better applied in ninjatrader with semiautomatic orders available in this professional platform with live lisence.
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pips, gbp/jpy, strategy, scalping, chart, buy, forex, sell, green, red, rules, maangle, pinbar, enter, trade, colored, download, trading, preferred, setup, stop-loss, appears, trades, bar, target

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