Scalping with Parabolic SAR and Fibonacci

Fibnacci Retracement

Submit by  ForexStrategiesResources

Apply 2 Parabolic SAR to a 1 min EUR/USD chart.

1st ones settings = 0.02 & 0.2

2nd ones settings = 0.005 & 0.05

I only trade EUR/USD since I get a 1.5 pip spread at .

I only trade from 4amEST-6amEST.

I only trade in the direction of the 0.005 & 0.05 PSAR.

LONG

When price breaks up through the 0.02 & 0.2 PSAR you draw a Fibonacci retracement

from the closest last significant low (before pirce broke PSAR)

to the high of the bar that broke the PSAR.

This gives you your PROFIT TARGET at 161.8% Level

and your ENTRY ar 50% level

STOP = Last Signifcant low -2 Pips

SHORT

When price breaks down through the 0.02 & 0.2 PSAR you draw a Fibonacci retracement

from the closest last significant high (before pirce broke PSAR)

to the low of the bar that broke the PSAR.

This gives you your PROFIT TARGET at 161.8% Level

and your ENTRY ar 50% level

STOP = Last Signifcant high +2 Pips

Scalping with Parabolic SAR and Fibonacci

SIMPLE MM VARIATION.

LONG

When price breaks up through the 0.02 & 0.2 PSAR you draw a Fibonacci retracement

from the last significant low (before pirce broke PSAR)

to the high of the bar that broke the PSAR.

This gives you your ENTRY @ 50%.

PROFIT TARGET = +9 Pips

STOP = -8 Pips

SHORT

When price breaks down through the 0.02 & 0.2 PSAR you draw a Fibonacci retracement

from the last significant high (before pirce broke PSAR)

to the low of the bar that broke the PSAR.

This gives you your ENTRY @ 50%.

PROFIT TARGET = +9 Pips

STOP = -8 Pips

Share your opinion, can help everyone to understand the forex strategy.

For trade I recommend to choose Broker with MT4 >>