【Anyone Can Understand Buying Signals】No analysis needed! Earn easily by using spare moments!! Turn FX into a game! Simple Rule Scalping [Takuya Hongō]
This article is a reproduction and revision of an article from FX Translation Guide 2019 April issue. Please note that the market information written in the text may differ from the current market.
Takuya Hongō Profile
After studying in the United States and returning to Japan, he started a business at the age of 20. He has been involved in various types of businesses, undertaking new projects, new business startups, and restructuring or M&A work for client companies. Currently, he is not only the principal of Aonori School but also a business owner, trader, business manager, consultant, and coach.
Key Points of the Strategy
- Technical: horizontal lines
- Trading time frame: 1-minute chart
- Target currency pair: USD/JPY
- Benefits of this strategy: extremely simple and easy, many trading opportunities
New
- On a 1-minute chart, draw horizontal lines at the highs and lows, confirm that candles are within a range
- Enter when the price is around the midpoint of the high/low (buy or sell is OK)
Settlement
- Place stop orders at the range lows or highs
- Place a take-profit order at +10 pips from entry
※ The “Key Points of the Strategy” and the main text assume a rising market for long positions. In a falling market for shorts, the rules are the opposite.
