AI Summary
This video presents a scalping strategy based on the 15-minute opening range at the New York Stock Exchange open. The trader claims an 84% win rate over 25 live trades and explains the five-stage process: identifying the opening range, analyzing support/resistance, drawing trend lines, entering trades, and managing risk. Multiple live examples, including wins and a loss, are reviewed to illustrate the method.
Full Transcript
[00:05] when I say that this is the only scalping strategy that I will continue to use for the rest of my life. Over the past month, I have been trading with this strategy live on the broadcast in front of with this strategy live on the broadcast in front of thousands of traders daily. I won 21 trades
[00:19] thousands of traders daily. I won 21 trades against four losses, with a win rate of 84%, during two to three hours daily of live streaming trading. Each of those trades was discussed live, and you can go back and check for yourself. There's no
[00:33] exaggeration in what I'm saying. As for the community, I've received a large number of messages from traders who are achieving success using ideas from this scalping strategy to help them overcome the challenges of funded accounts and grow their trading accounts. Now, this doesn't mean that
[00:47] this strategy will work for you. I don't guarantee or promise anything. Trading is difficult, and most traders lose money. All I hope is that you benefit from this video, even if it's just one idea to add to your trading plan and help make your life a little easier while I explain each trade in
[01:04] detail. So, let me show you how to start using a scalping strategy in three simple steps: hit the like button, subscribe to the channel, and let's open the charts. This strategy is based on only one candle, the
[01:18] 15-minute candle at 12:30 AM Eastern Time, which is the moment the New York Stock Exchange opens. Go to TradingV, and let's set the launch range (ORP). In the bottom right corner, click where the UTC+N/A
[01:33] New York time zone is displayed. In the top left, click on M15 for the 15-minute timeframe. If you need to know the time in your country, simply go to Google and type, for example, "12:30 AM Eastern Time Zone, India," and it will give you the corresponding time in India. Otherwise, type "California," and it will give you the
[01:49] California time zone. But as long as the time is set to UTC+N/A New York, as shown here, your time is correct. 9:30 AM is now the starting candle on the 15-minute timeframe. We observe the candle as it moves up and down, and at the end of those 15 minutes, the trading range for the day is determined.
[02:06] This is the range we will rely on throughout the day. The first step is complete; we have seen the 15-minute candle. The second step is to draw the opening range. Draw a
[02:18] second step is to draw the opening range. Draw a horizontal line at the top of the candle's wick, like this, and horizontal line at the top of the candle's wick, like this, and another line at the bottom of the wick, like here. This defines the upper and lower limits of the range. Now, for the third line, we move to the M5 timeframe (
[02:31] third line, we move to the M5 timeframe ( five minutes) and wait for a break and close above the upper limit. Or below this range, locate the M5 chart in the upper left corner. As you can see, we're starting to see some candles forming. We're simply waiting for one of these candles to break the range
[02:45] and close above or below it. This will give us the trading direction for the day. Let's follow what's happening. trading direction for the day. Let's follow what's happening. As we can see, the candles have started to move, and here, as As we can see, the candles have started to move, and here, as you can see, this candle closed
[03:00] above the upper limit of the range. This tells us that the trend for today is to buy. Now, let's move on to the second stage. The next step I take is identifying the levels. In the first step of this stage, I identify the support and resistance range. I usually do this
[03:14] on the M5 timeframe, but many traders in my community also prefer to look at the M15 and H1 charts. You can choose what suits you. We're still on the same chart. Let's go back and expand our view a little to understand the picture better.
[03:31] Initially, you can see that I have a strong support zone here and then a strong resistance level here at the here and then a strong resistance level here at the top. Now we have the overall trading range. This upper zone represents resistance because the price was The price bounces down
[03:45] from this level, which is why we consider it resistance. Support is below because the price bounces back up from this level. Thus, we have completed the first step: identifying support and resistance zones. Now it's time for the next steps: analyzing the distance within the range. Here, we can use the
[04:01] Fibonacci tool. It's clear: if the price is near the top of the range, we tend to sell, and if it's near the bottom, we tend to buy. What many don't realize is that the price trades within a range 70 to 80% of the time, while trends constitute a much
[04:18] smaller percentage. Therefore, when we take the Fibonacci tool and measure from one zone to another, we will notice that any price below the 50% level is considered a discounted price. discounted price. This simply means it's a buying zone.
[04:33] When considering entering a trade at this level, look at the distance between the current price and the top of the range, as well as the distance to the bottom of the range. This distance helps me make a buy or sell decision. If the price is in the middle of the range, I usually don't enter the trade at
[04:50] all because the risk isn't worth it. But if the range... If the opening range is high, I will look for selling opportunities. If the range is low, as in our current case, I will look for buying opportunities. It's very simple. It seems I've already covered the third plan, which is ensuring you
[05:05] buy at support and sell at resistance. You want to sell at resistance and buy at support. Now we move to the third stage: trend line analysis. The first step in this
[05:17] stage is simply drawing trend lines. If the trend line you drew is inaccurate or you couldn't draw it at all, that's not a problem in the trade you executed on the live stream. The trend line wasn't perfect, to be honest; it was rather weak. But as you can see, we have
[05:32] weak. But as you can see, we have touches here and touches with a slight break here, touches here, touches here. So I still consider this a valid trend line. The purpose of the trend line is simply to help us determine the direction of the trend. After drawing the trend line, we move to the second step, which is
[05:46] waiting for the price to break through the trend line. As you can see here, the trend line is clear. This candle broke through the line and closed on the other side, which gives us additional confirmation that we want to buy. The
[05:58] third step is the possibility of using Retesting the trend line as an entry point: In this example, you might have waited for the price to retest the trend line, but this didn't happen perfectly.
[06:10] However, if the trend line were in a different location, say like this, you might have waited for a correction to the line and entered the trade from there. I will show you many examples in the live stream where I used trend line entry points, in addition to
[06:23] several other entry methods. Let's move on to the fourth stage: entry points. Now there's only one stage left after this, and it's very important. The first step in this stage is choosing the appropriate estimated entry point. To help you stay on track,
[06:39] I will now do what I always do on the live stream: I will show you the complete pattern very quickly. At 1:30 AM, we observe this candle rising, then falling, then closing. Here, we identify the candle's high and low, and so on, identifying the highest and lowest ranges. We do this
[06:54] on the M15 timeframe. Then we move to the M5 timeframe. All we do is to the M5 timeframe. All we do is observe the candles on this timeframe. We wait for a candle to observe the candles on this timeframe. We wait for a candle to break the range and close above or below it.
[07:08] If the candle closes above the range, as happened here, we start looking for buying opportunities, preferably in accordance with the general direction of the market. Then we arrive at where we are now, determining the estimated entry point. We have a candle that closed above the range, right? So, we can enter directly upon the
[07:25] candle's close or upon a retest of the upper limit of the range. Perhaps there's a price gap we can enter from. Maybe we use the middle of the range as an entry point. Perhaps the price will return to the EMI, and we can enter from there. Or perhaps we can wait for the trend line to be retested and
[07:40] then enter. All these options are available, but you have to choose the most suitable one. Now, back to the chart. The candle closed above the range, and we're trading from a support level. It's clear we're looking for buy opportunities. We've already broken the trend line, so where is the entry point for me?
[07:57] I'm always looking for a correction. I always want the magic to return to my zone, giving me an entry opportunity from within it. It could be at the bottom of the zone or in the middle; it doesn't matter. The important thing is that we have a clear reason for this particular trade. I used an entry point based on a fair price gap. As you can see
[08:12] here on the chart, there's a fair price gap, which is a pattern consisting of three candles. The first candle ends here, and the third candle starts here, leaving this area between them as an uncovered price zone. This often acts as a magnet,
[08:27] This often acts as a magnet, attracting the price towards it before it bounces off it. Of course, Later in the video, I'll show you several live examples from the live stream to demonstrate every possible entry point I use. We've now covered the first step: entering
[08:41] based on the price gap. The second step is checking the spread with your broker. What I need you to do is open a trading account on the MetaTrader platform, or any trading platform you use with MetaTrader. Just right-click here and make sure the "Show Spread" option is enabled in the
[08:55] menu. The general rule I follow in my strategy is that the number in the spread column should be less than 10. If the spread exceeds 10, meaning more than one pip, it indicates poor trading conditions. What does this mean? If you enter a trade here and your stop-
[09:10] loss is five pips, the large spread might force you to enter at an unfavorable price, causing a price difference. Therefore, it's essential to trade only pairs with tight spreads. So, in our current pair, GBP/USD, the spread is currently only four pips, less than
[09:27] one pip, which is very good. To get a low spread, you need a good broker, and the broker I use is Triple A. Triple FX, whose link is in the video description, offers low spreads and low commissions. It's an excellent broker on the MetaTrader platform. If you're
[09:43] looking for a place to trade, I recommend joining Triple FX today. Now, let's move on to the final step: setting a limit order on the MetaTrader platform. You can see that I've placed a MetaTrader platform. You can see that I've placed a limit order at this level: 1.35302.
[10:02] New Order," choose the trading symbol you want (e.g., GBP/ USD), and specify the trade size ( e.g., 0.1 for a small trade). Then, select "
[10:14] Pending Order" and place a buy limit order at the price of 1.35302. ready, and you just wait for the price to fall back down (correct) to reach that
[10:30] down (correct) to reach that level and trigger the order. Then you enter your trade. I always prefer to wait for a correction because I want to enter at a low price when enter at a low price when scalping. We wait until the price has exhausted its strength.
[10:42] If we look at this example, we see that the price was falling for a while. It's long until it's exhausted, and that makes the entry point better. There aren't enough sellers to push the price down further, and this makes
[10:54] the situation ideal for us to enter a buy trade. Here we are now in the final stage, the fifth stage, which is managing the trade. In the first step of this stage, we want to determine the first take-profit level and the stop-loss level. Regarding the stop-loss, when the price drops to this level, it will take
[11:08] us out of the trade. Where do we place the stop- loss? We can place it below the wick of the candle that is here, or below the trend line as additional protection,
[11:20] or below the support level. In this trade, I placed the stop-loss directly below the wick because this gave me a higher risk-to-reward ratio. In the live stream, sometimes I start by placing the stop-loss at a slightly lower level and then adjust it
[11:36] while the trade is being activated. This is part of managing the trade. Then we move on to determining the first take-profit, which is not always at the very top, but is often around the top of the range. The reason for this is that the price usually trades within this range throughout the day before an
[11:51] actual breakout occurs. [Music] In this example, I can quickly determine the first profit target, and then we move to the second step, which is taking a portion of the profits and moving the stop loss to the breakeven point.
[12:07] When we reach the first profit target, I move the stop loss to the entry point so that the trade becomes risk-free. Now, while keeping the other part of the profit, come with me quickly to the MetaTrader 4 platform to show you how to take partial profit (Take Profit 1). Just
[12:23] go to Open Orders, right-click on it, and choose Edit or Execute Order. We will change the order type to Market Execution, then adjust the trade size by half. then adjust the trade size by half. For example, if I opened a trade with a size of 0.2, I will change it to
[12:38] 0.1 to close half the position. Now, half the position is still open, and you can see here that I made a profit of three cents at the first default take profit target. The
[12:50] three cents at the first default take profit target. The second take profit target (Take Profit 2). We have half the position still open, so where do we want to take it? Do we want to take all the profit at the resistance level? This is an available option, but in this trade,
[13:07] resistance level? This is an available option, but in this trade, I targeted a fair price gap. Look at this I targeted a fair price gap. Look at this candle; there is a large and clear price gap, so I decided to place the second take profit target inside that gap. As you saw on the live stream,
[13:22] the price rose quickly and achieved the first take profit target, second profit target, and this is the complete procedure for my scalping strategy. To
[13:35] fully understand the discretionary aspects of this strategy, you should watch live streams. Now, I will show you several trades from those live streams to clarify the details and live streams to clarify the details and help you achieve your trading goals. It's
[13:48] help you achieve your trading goals. It's time to review some live examples. I showed you this winning trade here, and now let's go back to the first trade I executed on the live stream, which was a sell trade on the EUR/ USD pair. Before we go into the details of this trade, I
[14:04] would like to draw your attention to the MarketWatch window. As you can see, I apply this strategy to gold, the Nasdaq US 30 index, and most 30 index, and most low-stakes forex pairs. Simply look for the best
[14:18] available trading opportunities. Now, let's continue with our steps. Here, we see that on the 5- minute M5 timeframe, we have a clear resistance level above and a clear support level
[14:30] below. There may have been some liquidity taken at this lower level. The next step I want you to take is to go to the Indicators section and then type... Opening Range: To install this indicator, you will find the indicator visible at the top right when you click on
[14:46] Settings. These are the settings I use: a time period of 15 minutes, UTC time minus 1, from 9:30 to 1:45 AM. This indicator automatically draws the opening range, so you don't
[14:59] indicator automatically draws the opening range, so you don't need to manually define the peak and trough. We are now on the five-minute timeframe, and our goal is to wait for the price to break our range. This is exactly what happened, as the price broke and closed below the lowest point of the range,
[15:15] indicating that we want to sell. Also, the price reached the resistance level here, which confirms our desire to sell. In addition, the price is high, and the distance between resistance and support is narrow,
[15:28] and support is narrow, indicating a good selling opportunity. After that, we need to determine the entry point for this trade. I used a supply zone, which I drew trade. I used a supply zone, which I drew on the 15-minute timeframe.
[15:41] As you know, I always wait for price corrections and I want the price to return to this supply zone. Coincidentally, this area also coincides with the middle of the opening range, which is another point I like to enter trades from. That's exactly what I did; I waited for the price to return and then touch that
[15:57] area. Then the first candle on the five-minute timeframe reached the first profit-taking target. The candle quickly dropped and hit the first profit-taking target at this level. I partially exited the trade and then moved my second take-profit target to fill the
[16:12] moved my second take-profit target to fill the fair value gap we were monitoring. breakeven. After that, the price continued to fall, hitting my second take-profit target right at the bottom.
[16:24] All of this happened live on air, and it was a fantastic trade. It could have been even better. If you look at this other example, you'll see how the price dropped to this point. It's great that if you follow many of my trades, you'll notice I often hit the
[16:39] market direction accurately, which gives me great confidence in my scalping strategy. Now let's move on to another trade. I've shown you two winning trades, and now I'll show you a loss so you understand what to avoid. I'll explain what I was watching in this trade. As you can see, we have the upper
[16:55] range here and the lower range here. The price broke through the upper range, and then I waited for a correction to enter at a buy order level that looked very good to me. But you should know that no trading strategy or scalping strategy is perfect and error-free. You'll learn over time and you'll lose some
[17:11] trades; that's a normal part of trading. Here, I made a very clear mistake. The price was exhausted, moving upwards for a long time, and I hadn't drawn the trend line at the right time. If I had drawn the trend line, as you can see, we had several touches on this line, making it valid. Then it was
[17:28] broken and retested before the price dropped sharply. If I had drawn that line, I might have avoided this loss. Also, I entered the trade on a large red candle,
[17:40] which is something I rarely do in live streams positive momentum on the five-minute timeframe, like two green candles, before entering a trade. This is
[17:53] n't a hard and fast rule, but it's part of the improvements I add to my technique. Now, let's move on to more successful trades. After that loss, I came back the next day with a series of two great wins in a row. Let me show you one of them. Well, this was a buy trade on the
[18:07] EUR/USD pair. As you can see, we have the high of the range here and the low of the range here. This was at 7:30 AM. The price closed above the range, which indicates a buying opportunity. I looked at the support and resistance levels on the chart. You can see a
[18:22] clear resistance level at the top, and if we zoom in a little, you'll notice that this level is quite strong. There's also a small, secondary resistance level that can be monitored later.
[18:34] scroll to the other side of the chart, you'll see wicks at this level, which coincide with the level marked on the chart. This is exactly what I was focusing on in this
[18:46] chart: a strong support zone where I wanted to enter a buy trade. Since I forgot to use the trend line in the previous trade, I wasn't going to make the same mistake here. I looked at the previous trade and realized what I had missed, so I drew a new trend line on this chart. These were
[19:02] the plans I made before entering the trade. You can see that we broke through the peak slightly, but from my point of view, this breakout was respectable and acceptable. There were several touches on the trend line, and then the strong breakout occurred, breaking through the trend line and breaking the
[19:17] Eurozone. This is exactly what we wanted to see, so I placed a limit order at this level. There are several reasons for this. We had a
[19:29] level There is very little support here, and you can see that this level was previously used as support and
[19:42] then respected as resistance. This made it a good entry level. In addition, we had the same trend line, which means that we are combining several confirmation factors. I entered the trade at the trend line and the small support level, and this is where I placed the limit order. When the price moved,
[19:56] you can see that I entered accurately like a sniper and pushed the price upwards until I reached the profit target. First, why did I choose this level specifically? Because I was tracking the EMA (Exponential Moving Average) on the chart, if you look at the EMA settings, you'll see that
[20:12] its length is 200. The source is the unsmoothed close, and the length is 142. You can adjust these settings yourself. I often use this average as an exit target for trades, which is why I placed my take-profit at this level. As for the stop-loss, I
[20:27] placed it directly below the lowest point of the range. Regarding the first take-profit target, I think I achieved part of it at this level, and then I reached the second take-profit target, Take-Profit 2. Okay, don't go away. I have more trades to show you, and you should watch them
[20:42] trades to show you, and you should watch them all. I assure you, they are worth watching. This is the last trade I will show you, and it was the best trade I executed on the live stream. I will explain it to you step by step one last time. We have one candle, the 15-minute candle, at 8:30 AM New
[20:56] York time, when the New York Stock Exchange opens. You can see the 15-minute candle here. I have already identified the high and low points, and this was The second step is to draw the opening range. Then we changed the timeframe to five minutes and waited for the price to break either the high or the
[21:11] low to determine the trend direction. As you can see, the price broke the low and the candle closed below this price broke the low and the candle closed below this level. This indicates a selling opportunity. The second step is to look for support and resistance levels. For support, we have a
[21:23] clear level below, while resistance is approximately at this level. Next, we move on to analyzing the range distance and then apply the rule that says buy at support and
[21:35] sell at resistance. Let's disregard that; the range distance is in our favor, and we notice that we enter the trade around this level. Certainly, there is more room to move downwards compared to upwards, and we are now at this resistance level. Therefore, we sell at the
[21:50] resistance. In the third stage, we focus on trend lines. We draw any clear trend lines and wait for the price to break the trend line. We can use this breakout as a potential entry point. use this breakout as a potential entry point. As you can see, I drew the trend line here: 1, 2,
[22:05] As you can see, I drew the trend line here: 1, 2, 3, 4. Five touches and a clear break. This indicates a downward trend. You can see I drew the trend line there: one, two, three, four touches, and a
[22:17] strong break, which confirms the trend. We're heading downwards. The third step is that if you don't have an entry point from the trend line, that's acceptable and no problem. The fourth stage is choosing the correct estimated entry point. In this example, we don't need to check the spread. After that, we'll
[22:31] place a limit order. As for why I chose this entry point, there are several reasons that made this entry ideal. First, you can see that the
[22:43] EMA respects the price here, and this strengthens the signal. I wanted to enter at the EMA level, and there was a gap at fair value here to fill, fair value here to fill, so I entered the trade inside that gap.
[22:58] We also have a level showing the results of this green candle, and thus we brought all the confirmation factors together. The final stage is managing the trade and setting the first take-profit and stop-loss, then taking
[23:11] part of the profit and moving the stop-loss to the break-even point, then setting my second take-profit. In this trade, I placed the stop-loss above these last wicks because I felt this was a last wicks because I felt this was a safe place. I set the first take-profit at
[23:24] this level and then left A trade that developed further and further during the live stream then left A trade that developed further and further during the live stream
[23:38] second profit target, which was ideal at this level, but it continued to fall further and further over the following hours. This was the best live trade so far. If you really want to learn this scalping strategy,
[23:53] you should follow me during the live stream, as there are many discretionary aspects. Don't forget to hit the like button and subscribe to the channel if you found this video helpful, and consider joining the VIP trading room; the link is in the video description. I'll be back
[24:08] next week. Watch this video here. Watch this video here. All my love.