How to scalp 15 min charts on forex? – Forex Academy (2024)

FAQs

What is the best 15-minute chart strategy? ›

For the 15 minute day trading strategy, a combination of Exponential Moving Average indicators (5 EMA and 20 EMA) and the Supertrend Indicator work best. These indicators use current market data to help traders predict prices.

Main takeaway: the 10 or 15-minute chart is for people who want to focus on the large price movements throughout the day. They don't mind waiting longer for trades to open and close. They prefer cleaner movement and are likely after only one or two trades over multiple hours of trading.

Whilst there is not really a "best" time frame for scalping, the 15-minute timeframe does tend to be the least popular with most Forex scalping strategies. Both 1-minute and 5-minute timeframes are the most common.

The Best MACD Settings for 15-Minute Chart

Analyzing the effectiveness of MACD settings on a 15-minute chart can provide insights into market momentum and trend reversals. For such a timeframe, consider a faster MACD setting like 8, 17, 9 to reflect the quick market changes.

The 20 EMA Strategy

Experts suggest that using 15-minute EMA is most effective for intraday trades that are carried out during periods of high market volatility. To interpret the 20 EMA, you need to compare it with the prevailing stock price. If the stock price is below the 20 EMA, it signals a possible downtrend.

A one-minute scalping strategy is a great technique for beginners to implement. It involves opening a position, gaining some pips, and then closing the position shortly afterwards. It's widely regarded by professional traders as one of the best trading strategies, and it's also one of the easiest to master.

A 15-minute trading strategy provides a structured approach to identifying and executing profitable trades within a short time frame. By focusing on short-term price movements, traders can minimize their risk exposure while potentially maximizing their profits.

What is the 5 3 1 trading strategy? ›

Clear guidelines: The 5-3-1 strategy provides clear and straightforward guidelines for traders. The principles of choosing five currency pairs, developing three trading strategies, and selecting one specific time of day offer a structured approach, reducing ambiguity and enhancing decision-making.

Scalping As a Primary Trading Style

A pure scalper will make several trades each day, perhaps in the hundreds. A scalper will mostly use tick or one-minute charts because the time frame is small and they have to see the setups as they take shape as close to real time as possible.

The 1 Minute Scalping Strategy is a precise trading style, focusing on a 1-minute time frame. It depends on market volatility to capitalize on rapid price movements within a 60-second window, aiming for quick, small profits. The charts and indicators used in this strategy are tailored for swift decision-making.

Which EMA is best for scalping? In forex scalping, selecting the right EMA indicator is crucial and depends on your chosen trading timeframe. For 1-minute charts, a 5-period or 9-period EMA is commonly used, while 15-minute charts often utilize 12-period and 26-period EMAs.

Head and Shoulders Pattern: The head and shoulders pattern is considered one of the most reliable chart patterns and is used to identify possible trend reversals.

To trade the Opening Range Breakout strategy, you want to allow the market to settle down for the first 15 minutes. You will often get a lot of volatility at the open, so this allows you to sit out the craziness of the opening bell and let the direction work itself out. Once the first 15 minutes are up, game on.