Name : The Oversold / Overbought Exhaustion
Time frame : 15mins and above
Indicator : Stochastic Oscillator (Settings : 5, 3, 3)
Description : The stochastic oscillator is a good indicator to use to see if the market is oversold or overbought. But it cannot be used alone. To accompany it, I am showing you how you can use Exhaustion Candles to supplement this trading style.

For a Long (Buy) Trade :

- Stochastic oscillator must be in oversold territory (if its slightly above it, that's fine)
- Market should have a nice downtrend at that moment
- Exhaustion Candle should form
- Take a long (buy) at the opening of the next candle
- Stops should be placed 5 pips below the low of the exhaustion candle
- Make sure to trail your stop


For a Short (Sell) Trade :

- Stochastic oscillator must be in overbought territory (if its slightly below it, that's fine)
- Market should have a nice uptrend at that moment
- Exhaustion Candle should form
- Take a short (sell) at the opening of the next candle
- Stops should be placed 5 pips above the high of the exhaustion candle
- Make sure to trail your stops
Example : Long Position

Example 2 : Long Position

Example 3 : Short Position

10 PIPS PER DAY

Name : 10 Pips Per Day Scalping Strategy
Time Frame : 5 Minute Charts
Indicators : Bollinger Bands (20, 0, 2) and Stochastic Oscillator (5, 3, 3)
How to make 10 pips per day in Forex

First you want to setup your charts as the image above. If you want the Stochastic indicator like mine, you can find it in the forums. Now the key is not to earn 10 pips in one shot or in one trade. If the trade skyrockets and gives you 10 pips, so be it. Otherwise, take what you can get. I will post a video tutorial on this also to make it easier to understand. The risk to reward ratio on this strategy is bad but has a higher accuracy rate. So please trade at your own discretion.

Steps to look for to scalp your 10 pips

- Look only on the major pairs. (EURUSD, USDJPY, GBPUSD, USDCHF)
- A close must happen outside the Bollinger Band indicator
- Stochastic Oscillator indicator must be in a oversold (below 20) or overbought area (above 80).
- If market is in a uptrend, look for a red candle. If market is in a downtrend look for a green candle.
We will call these the "Signal Candles"
- Once you see your signal candle, enter in that same direction and scalp your pips.
- Stops are hard kept at 20 pips.