Required indicators:
- Exponential Moving Average (EMA) – Period 10
- Exponential Moving Average (EMA) – Period 21
- Exponential Moving Average (EMA) – Period 50
The function of EMA indicator 50 as the director to see which trend is being strong at that time. The indicators are EMA 10 and EMA 21 as lines that form support and resistance. We will use the two EMA as a level to look for the entry signal.
The best time to trade using this system is when the London market session is open and also when the New York session market is open. Because in the market session is usually pairs GBP/USD and EUR/USD will form a trend. You should not trade when the Asian market is due to many false signals that are formed.
Before opening an entry position, this 5 minute scalping technique only takes or seeks target of 5-10 pips only. See picture below
The way to trade using this 5 minute scalping technique is very simple. You just have to monitor the lines on both EMA, while THE EMA50 as the director of the trend.
When an Uptrend or trend rises, then the market will form a High-low in zig-zag. In the example image below, we can see an open example of the buy position when the market is moving up.
Remember, we just need to take 5-10 pips only.