Pet-D Scalping System is a forex trading system. This system is designed to scalp in the market. Not everyone likes to scalp and not everyone can scalp in the market. So this forex trading system can be useful to only certain groups of people who are aggressive scalpers. Scalping are done using smaller time frames like one minute, 5 minutes, and 15 minutes charts. So, be sure that the time frame is small. When you scalp there are certain things you should keep in mind in order to make your trade effective and even to minimize the risk and maximize the gain. When you are scalping, spreads also matters much as you will be trying to grab few pips out of every single trade. So, pairs with larger spreads can really impact a scalper’s trade.
There are two indicators in the main chart and two indicators in the indicator window. Pet-D Scalping System automatically draws the Fibonacci levels on the chart. When Pet-D Scalping System is loaded in a right way in your forex trading software, your chart should look like this:
Pet-D indicator is a special type of custom made chart. It is a bar chart but the colors are differently displayed so that it becomes easier for the traders to identify the market direction.
SpudFibois a Fibonacci levels that are automatically drawn by the Pet-D Scalping system.
These levels can be used to figure out the potential reversal levels.
- Trend CCI
Trend CCI is a technical indicator which fluctuates in positive and negative territory. The idea is to buy when the CCI indicator is in positive territory and vice versa.
RSI indicator doesn’t need any explanations as it is one of the most popular technical indicators worldwide. Basically, you should be looking for a buy position when the RSI is above the level of 50, and you should be looking for a sell position when the RSI is below the level of 50.
Buying Conditions Using Pet-D Scalping System.
- Pet-D (Bar charts) should be green.
- Trend CCI indicator should be in positive territory.
- RSI should be above the level of 55.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the Pet-D (Bar charts) turns red.
Selling Conditions Using Pet-D Scalping System.
- Pet-D (Bar charts) should be red.
- Trend CCI indicator should be in negative territory.
- RSI should be below the level of 55.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the Pet-D (Bar charts) turns green.
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