Scalping with Money Flow Index and Bollinger Bands

Time Frame 5min

Pairs: EUR/USD, AUD/USD, GBP/USD

Forex Indicators:

Bollinger bands (20, 2)

Money Flow Index (8).

Long Entry:

when the Money Flow Index  is in overbought, the bid price close outside the lower Bollinger band indicator line, wait candle bullish.
Short Entry:

when the MFI is in oversold, the bid price close outside the lower Bollinger band indicator line, wait the candle bearish candle

Exit Position:

Place Stop Loss on the upper or lower band.

Profit Target: AUD/USD 6 pips, EUR/USD 8 pips, GBP/USD 10 pips.

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For trade I recommend to choose Broker with MT4 >>