Stoch is rising out of oversold position. MACD is crossing It also is bouncing off a firm line of support. I see a nice LONG position for a quick day trade scalp.
Stoch in the oversold position and will be turning around looking in a long direction. Plus the support line, I expect it to bounce for a nice day trade scalp.
GBPAUD bounces up the overall trend line that's going in an upward slope.
This is the classic cup and handle formation. As you see the cup has formed and it is finalizing the formation of the handle. I expect this to bounce and head up for a nice day trading long position. If you take a look at the momentum it is suggesting the bullish movement going up soon.
The EURJPY is locked in a strong channel at the moment but watch for it to break the channel and head strong in the up or down position once the channel is broke. You can do a nice scalp play on the micro down and up trends.
Following the main channel down causing micro trends going up and down. with the macd heading down long range but crossing up short term. Plus the Stoch is heading up from the last Low temporarily back up to hit a new Low High. so for a day trade I would do a LONG position on EURUSD for a nice scalp and then play the channel until we see a break.
On this chart I am pointing out my major support and resistance area's for the coming trading day.
I've being testing this Scalping Strategy with the help of this Post here: forex-strategies-revealed.com Using this method shows that 80% of the times these Price actions are very successful. Credit goes out to Chelo who post the Original Scalping method here: forex-strategies-revealed.com and Hessel modified after that to get most out of it:...