Hey guys…So in this video I was exploring USDJPY range daily low.
Now the principle says that when price has made its way towards this zone a retrace back up is expected as they have absorbed the days range to the downside.
Now this scalping technique requires discipline.
I do not advise anyone new to try this with size. Now if you want to try and practice this sort of strategy, use small size..
This trading approach is what I use to “Save” a trade. In the video, you will see that the first entry did not play out the way we had anticipated, at the point of opening i had made the assumption that it was going to follow through, but they were not ready.
The range Daily Low was due for a third hit…This is why I held the trade, although i was close to closing the trades, experience told me that they would make one more attempt up.
Again, this sort of scalping is no different from the way the Market Maker trades… Notice in the image below that they came back into the range daily low, spiked it, (3rd Hit) then reversed. Again, scalping requires quick decision-making. Now I am at the advantage of minimal spread and a fixed fee. Hence why I dont need price to move up in my favor that much to realise a return. I will talk more about this in the masterclass session.