Scalping the GBPAUD forex pair this afternoon nets 44 pips. The key to the scalp was the 180 minute. Price was at the TradersHelpDesk ATR, which typically always offers resistance.
Going down to the 45 minute chart, the TradersHelpDesk Directional Volume indicator showed volume divergence on the highs, so an ADX magenta peak was probably imminent. The entry for the short position was at 1.8963.
[sociallocker]The chart below shows the entry point on the 45 minute chart with the decreasing volume on the TradersHelpDesk Directional Volume indicator. The ADX magenta peak did come in, confirming a retracement back to the ATR on the 45 minute chart.
During the trade, the 12 minute chart formed a congestion dot at 1.8915, which coincided with a daily pivot line at the same area. Although the profit target was set to 1.8915, the lowest price available for exiting the trade was 1.8919 so an exit for 44 ticks in profit was achieved.
Scalping the GBPAUD Forex Pair Video
In addition to the EURAUD trade from this morning, and the GBPAUD trade this afternoon, I also did a Dow binary option trade to the long side. Again, the 180 minute showed that the Dow was at the ATR. The ATR on the 180 minute Dow has been holding price up for the last few weeks. The strike price at 17275 was offered for $30 of risk (weekly expiration). By 2:30 this afternoon, I sold the binary option for $76 — netting an additional $46 per contract to my profits today.
Just shows how utilizing multiple trading vehicles and instruments can produce profits even on a slow trading day.
The TradersHelpDesk Special Packages for TradeStation, NinjaTrader and Multicharts includes the indicators, documentation, workspaces (or templates) and access to the TradersHelpDesk extensive online video training library for identifying these trade setups. Additionally, the Diamond package also includes the upcoming two day seminar in Greensboro, NC, April 25 and 26, 2016.