AUDUSD 5min / 15min Chart Cypher
Today I got bit more time thought i post this scalp i did on the 5 min chart
It has hit both my TP1 and Tp2 as i write this blog. happy days..
Why i took this
- Very perfect cypher where all fib levels line up
- PRZ is also a 61.8 retrace from the sessions high to low, which makes it more convincing
- I didn't wait for price action, as i am dealing with 5 min chart very fast pased,
- I was only risking i think 4 pips but a larger lot size to make it worthwhile
- TP1 was 4 pips (38.2% retrace) , TP2 was 6 pips (50% retrace)
Should i have been greedy and wanted more pips, i might have lost all my profits, as its trying to shoot up again while i write this post
Note - pips profit doesn't sound much, but it all depends on your Money Management. If you risk 2% then you gained 3 % on this trade alone. in i think a few minutes or less.
Also, doing these scalps require a very low spread broker, Contact me if you want recommendations.
Currently talking to my broker to get commission from my referrals
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