Extremely effective scalping EURUSD strategy with key levels I am excited to present a very effective scalping strategy for this pair within these zones using the 4 hr and 1 hr charts. The blue lines represent strong resistance and red represent strong supports. This strategy is played within this high trading zone.
To find entry points using this strategy I will use the 4 hr chart. The 4hr chart with these key levels pinpoint reversal points. If you observe close you will notice strong pivots can be detected with a 4 hr long wick close out touching a support a support line. You can add confirmation of pivot reversal by observing RSI levels on 4 hr chart.
I use the 1 hr chart to monitor the momentum of the trend. The one hr chart is important because it helps determine key level breaks. If a 4 hr candle closes beyond a support or resistance, the 1 hr chart will help me determine the next key level of possible reversal.
Below is the 1 hr chart. You can see strong pivots on the 1 hr and 4 hr play out at 1.18300. Now that I have pivot confirmation I will observe the 1 hr chart to target 1.18940. Once this level is reached it will either close out with long wick or push right through 1.18940. If there is pivot confirmation we can target 1.18300 for a short scalp.
I am excited to use this strategy for the remainder of the week. The levels are clearly marked with channels and pivots made clear!. Let me know what you think!
