A scalp based on:
- Trendline analysis
- Support and resistance
What else is on the chart:
- Fibonacci retracement
These 4 images show a trade after I exited.
The following are 5 minute charts 9/24 evening, NY time.
The 3rd chart shows the entry and exit
There was a break of a long downtrend and some strength on the move up
A steeper, short uptrend line was drawn, and when it broke a short was taken. As soon as I entered the trade started taking heat as the steep trendline was going to be tested.
I exited about 40 minutes later, after the price broke down (through another longer trendline)
8 pips profit.
The price actually made 4 lower lows after that (>100 pips).