Good morning Day traders, 15 February 2018. The advantage of the scalp. A great start to the day for the early risers. The higher timeframe chart, daily in this case agrees with a possible trend long. Soon after 7 AM on our 5-minute bars we get a breakout, indicated left to right by the first yellow arrow. We enter here for a scalp long and exit at the lowest red arrow.
We immediately take another entry near the close of the first exit, from this measurement we also set a pullback entry. We make these entries long for a scalp target shown by the middle red arrow.
A third entry is achieved, albeit more tentative as we are near the possible top of the push. We trade here with a decreased amount as our stop is far away below the low of the day.
Again we get the breakout and the pullback entry and take the final scalp at the target shown by the top red arrow.
Achieving about 70 pips for what was only a 32 pip move overall. That is the advantage of the scalp over the swing; the difficulty is making every entry.
Yellow arrows are trade entries; red arrows are trade exits.