Rainbow Forex Scalper

Details: Written by Hung San

Rainbow forex scalper is a powerful strategy to exploit the 1 min charts. This strategy can be used to scalp any currency pair during the most volatile trading sessions. First off, you need the rainbow system and it's trading rules to fully understand how it works and what it can do for you. You can download it from here. The rainbow scalper method is suitable on higher timeframe's as well.

Preferences:

• Preferred currency pairs: Any
• Preferred trading sessions: Euro and US

EUR/USD 1 Min chart Example

Rainbow Forex Scalper Trading Rules:

BUY TRADE

1) Rainbow moving averages are perfectly aligned and heading up.

2) MACD > 0

3) Laquerre rises from below 0.15 back above 0.15.

4) EMA cross-over buy arrow appears on the chart.

5) Go Long.

6) Set stop loss below the most recent support level.

7) Scalp target should be at least 20 pips.

SELL TRADE

1) Rainbow moving averages are perfectly aligned and heading down.

2) MACD < 0

3) Laquerre falls from above 0.75 back below 0.75 readings.

4) EMA cross-over sell arrow appears on the chart.

5) Go Short.

6) Set stop loss above the most recent resistance level.

7) Scalp target should be at least 20 pips.