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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.