A trader shares a five-minute scalping setup that made him over $100,000 last month. Mark the high and low of the 9:30-9:35am candle, switch to one-minute, wait for a break confirmed by a fair value gap, then enter with a 2:1 risk-to-reward target and stop at the first candle that closed outside the range.
I only trade this one candle every single day. And I know that sounds crazy, but I ignore everything else because this one candle made me more money than anything I've tested in my nine year career. And in the last month it made me over $100,000. But enough said. Here is my stupid simple approach. First, you're going to mark the high and the low of the 5 minute candle that forms between 9:30 and 9:35am Then drop down to the 1 minute chart and look for a break. Now, to confirm a good break, you need a specific type of behavior. And no, it it is not just a candle closure and it's most certainly not just a wick. What you're looking for is called a fair value gap. And this shows us that either buyers or sellers are taking control and we want to be on the right side of the market. Once this happens, you enter the trade and you put your stop loss at the first candle that closed outside the range. And as for our target, you just use a fixed 2 to 1 risk to reward. Then repeat this every single day. Now save this video for when you're testing it. That way you can ensure that you get it right.
