241# Envelopes Forex Scalping

The indicators setup value are nubers of the Fibonacci sequence: 1, 1, 2, 3, 5, 8, 13, 21,34, 55,....

Long Entry

The trend22 indicator has to turn from red to green.

The price has to close above the white EMA line. The candle that is closing above is called the set up candle. If the candle that is closing above the white line also is closing above the first red line the trading signal is not valid.

You place a pending Long position 3 pips below the high of the set up candle.

Short Entry

The trend22 indicator has to turn from green to red.

The price has to close below the white EMA line. The candle that is closing below is called the set up candle.

If the candle that is closing below the white line also is closing below the first red line the trading signal is not valid.

You place a pending short position 1 pips below the low of the set up candle.

You place the stop loss 3 pips above recent swing.

Profit Target at the first red envelope or 7-10 pips