The 20 Pips GBP/JPY scalping strategy is based on a very simple concept.
We will be looking for strong trends first and then initiate buy and sell trades with the help of price action pinbars.
Let’s take a look at the setup.
Chart Setup
Indicators: PinBar, MAAngle
Preferred time frame(s): M5
Trading sessions: Euro, US
Preferred Currency pairs: GBP/JPY
Download
Download the 20 Pips GBP/JPY Scalping Forex Strategy.
Strategy Example
As shown in the GBP/JPY chart above, we had 2 buy winning trades for a net return of 40 pips (2*20). Click to enlarge the picture.
Trading Rules
Buy Rules:
- MAAngle must be green colored.
- Green pinbar appears on the chart
Enter buy trade. Place stop-loss 3 pips below the green pin bar.
Target: Go for 20 pips or more.
Sell Rules:
- MAAngle must be red colored.
- Red pinbar appears on the chart
Enter sell trade. Place stop-loss 3 pips above the red pin bar.
Target: Go for 20 pips or more.