The Scalper 1 Minute System is effective as long as you are able to tell the directing of the trend, which also happens to be the hardest thing for some people.
Trade EUR/USD currency pair
Trade on the 1 Minute Chart time frame
Determine Trend.
If Trend is UP = BUY only
If Trend is DOWN = SELL only
Install a “Slow Stochastics” with default settings:
K_period = 14
D_period = 3
K_SlowingPeriod = 3
You can find this indicator on most charting packages.
BUY SIGNAL = Red line crosses UP and OVER “20” Stochastic Line in UP Trend.
SELL SIGNAL = Red line crosses DOWN and OVER “80” Stochastic Line in DOWN Trend.
Use a 5, 6 or 7 pip stop loss based on your forex broker platform.
Use a 15, 18, or 21 pip take profit to maintain 3 to 1 Risk/Reward Ration
USDCHF: With a firm hold below the 0.9297 level, representing its 2011 low and further weakness seen the past week, we are looking for a further run to the downside. In such a case, further weakness is likely towards the 0.9200 level, its last week low with a violation of that level paving the way for further weakness towards the 0.9100 and then the 0.9000 level, all representing its psycho levels. Its weekly RSI is bearish and pointing lower supporting this view.
Conversely, for the pair to reverse its current downside vulnerability, a climb back above the 0.9772/83 levels must occur though not likely at its current price levels. This will set the pair up for further strength towards the 0.9913 level, its Dec 08’2011 high and then the 1.0066 level, its Dec 01’2010 high. All in all, with continued bearish offensive seeing the pair extending its broader bearishness the past week, further declines cannot be ruled.
GBPUSD: The pair is holding slightly above its broken triangle pattern, but we will like to see a return above the 1.6338 level to end its current downside vulnerability. This will set the stage for a further run to the upside towards the 1.6455 level followed by the 1.6720 level ahead of the 1.6877 level, its Nov’2009 high.
On the downside, the risk to our analysis will be a break and hold below the 1.6029 level, its Feb 25’201 low followed by the 1.5964 level. We expect a halt to turn the pair back up at that level. Another support is located at the 1.5819 level, its Jan 19’2011 low on further declines. All in all, though retaining its broader bullish structure, GBP continues to face bear threats.
EUR USD BUY 1.3850 LIMIT 1.4140 STOP 1.3805
USD JPY SELL 82.60 LIMIT 82.10 STOP 83.05
GBP USD BUY 1.5780 LIMIT 1.5940 STOP 1.5700
USD CHF SELL 0.9700 LIMIT 0.9500 STOP 0.9770
AUD USD BUY 0.9790 LIMIT 0.9920 STOP 0.9755
USD CAD SELL 0.0270 LIMIT 1.0060 STOP 1.0315
NZD USD BUY 0.7460 LIMIT 0.7590 STOP 0.7400
EUR JPY BUY 114.25 LIMIT 115.20 STOP 113.75
BRUNO DORACI
TIME 09.11
EUR USD +111 (9 AM CLOSE)
USD JPY FLAT
GBP USD FLAT
USD CHF FLAT
AUD USD -35
NZD USD +130
USD CAD FLAT
EUR JPY -50
TOTAL RESULT +156 PIP
BRUNO DORACI 11.10.10
TIME 10.52
EUR USD BUY 1.3880 LIMIT 1.4000 STOP 1.3805
USD JPY SELL 83.10 LIMIT 82.30 STOP 83.45
GBP USD BUY 1.5800 LIMIT 1.6000 STOP 1.5750
USD CHF SELL 0.9685 LIMIT 0.9450 STOP 0.9750
AUD USD BUY 0.9730 LIMIT 0.9800 STOP 0.9690
USD CAD SELL 1.0150 LIMIT 1.0000 STOP 1.0180
NZD USD BUY 0.7460 LIMIT 0.7575 STOP 0.7440
EUR JPY BUY 115.00 LIMIT 116.00 STOP 114.65
BRUNO DORACI
TIME 10.11
EUR USD +45 (9 AM CLOSE)
USD JPY FLAT
GBP USD FLAT
USD CHF +15 (9 AM CLOSE)
AUD USD FLAT
USD CAD -30
NZD USD -20
EUR JPY -35
TOTAL RESULT -35 PIP
BRUNO DORACI 08.10.10
TIME 09.27