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Using 3 timeframes of 5-min, 1-hour and 1-min, this is a simple way to pinpoint entries and exits to scalp the EUR/USD, as well as take longer term intraday swing positions.

From the chart, it is obvious the price action is contained in a downwards sloping channel, which means that most opportunities will have a short bias, since the edge lies in that direction – the path of least resistance.

In total, there were at least 20 good entry opportunities which provided a scalp/swing ranging from 4 to 16 ticks (each tick is USD 12.50 per contract), for those who are thinking of trading intraday. I am waiting for it to pull back to the top of the channel for another opportunity to catch another major swing down.

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Hi, Spencer here! 😀

After making my first million at 28, and trading & teaching across 60+ countries, I have consolidated my knowledge and experience to create the most comprehensive & practical guides for profitable trading, compiled from thousands of books, websites, courses, and interviews with professionals.

comment-img As a former professional trader in private equity and proprietary funds, I have over 15 years of market experience, and have been featured on more than 20 occasions in the media.
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