Friday, September 30, 2022

1 Minute Gold Forex Scalping Strategy

2-strategy - Gold-scalping

The second strategy is for those who love trading gold and want to learn how to scalp the precious metal. Keep in mind that it requires your full attention to the chart.

Key elements:

Timeframes: M1
Assets: gold, silver
Indicators: Williams’ Percent Range: Fast (9) and Slow (54) With -30 and -70 periods

Algorithm of a “buy” scenario

You need to buy when both slow and fast oscillators break above -30. Close your position when the fast oscillator (9) leaves the zone. Stop loss goes several pips below the support level nearby.

Algorithm of a “sell” scenario

When you consider opening a short position, you need to sell when both slow and fast oscillators break below -70 and close when fast leaves the zone. Stop loss is placed several pips above the resistance level nearby.

Below you can see an example of long order. We opened a position when both slow and fast oscillators were above the -30 level at 1 946.12 and closed at 1 948.67 when the fast oscillator crossed the -30 level to the downside. The 1 945 level marks our stop loss.