Simple Scalping System Using Bollinger Bands

Time Frame 5 min or higher

Currency pairs: for 5 min time frame and 15 min major, for other time frame all currency pair and markets.

Session London and New York.

Forex indicators:

Bollinger bands (20, 2);

Ema (2);

EMA (11);

EMA (21),

Stochastic (5,3,3).

Buy

For long entry there are two condition:

First condition: wait that the price touch or break the lower band;

Second: Wait tha ema (2) is above EMA 11 amd EMA (21) and stochastic cross upward.

Sell

For long entry there are two condition:

First condition: wait that the price touch or break the upper band;

Second: Wait tha ema (2) is below EMA 11 amd EMA (21) and stochastic cross downward.

Exit position

time frame 5 min:

Profit target= EUR/USD 8 pips, GBP/USD 10 pips, AUD/USD 7 pips.

initial stop loss 15 -18 pips.

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