Ultimate Unique Forex Scalp Strategy Guide in 2023 – Make $1K/Day with Forex Trading

Table of Contents


Pass Your Funded Challenges in 2023

Get your coffee. Get the notebook. Because I am here with a huge strategy content.

I will be sharing with you my HMFX scalp strategy that I have used and developed in the past.

If you want to pass your funded trader challenges such as ;




The fastest growing Funded Trader Company


Industry leading Funded Trader Company in monthly payout volume


The most social and fastest growing Funded Trader Company in recent times

program, this article will be very useful to you.

I recommend reading to the end. So here we go.

Like “What is Forex? What is a spread?” I’m not going to explain things that you already know. You already know Forex and lost a lot of money.
After saying a few things, I’ll move straight to my strategy.
Also, with video tutorials, you will fully understand my strategy.

I want you to know that I lost $85k before I developed this strategy. I think I blew up 10 live accounts. I also blew up 6 failed FTMOs and 4 other unsuccessful challenge accounts from other companies.

I bought other mentors’ courses. joined their signal group. bought thousands of indicators. I’ve even tried future trading, crypto trading. I cannot say that all these investments I made were bad. Some of them were very good. However, it did not fit my character.

I lost a lot of money until I found a trade path suitable for my character. And in the end, something wonderful turned out.

HMFX Scalp Strategy Briefly;

-It will give dozens of beautiful entry opportunities during the day.

You will be able to trade at high frequency. (Not overtrading.You will have more than one entry opportunity and will be able to trade continuously if you want.)

-Drawdown rate is too low. Your entries will almost be snipers.

-Its win rate is incredibly high (65 -70% + win rate). Sometimes I catch 15-20 trades winning streak in a row.

-With very small stop losses, very high returns can be achieved.

-It works on all forex instruments. However, I only trade Gold and Indices. Gold and indices will be explained in this course. It also works for currency pairs. However, since we are scalpers, I only prefer Gold and indices.

-Since your drawdown will be very low, it allows you to trade high lots.

-Since you will be sniping into your trades most of the time, you can keep your trades longer if your high time frame analysis is also suitable.

-It’s officially a turnkey strategy. Thanks to the indicators I will provide you, you will be able to finish your analysis in a few minutes.

-It is a strategy that has been backtested for years. I will also give you an incredibly great backtesting software so you can test the strategy. This way, you can backtest faster and build confidence in the strategy. I will show you how to use the backtest tool in the video tutorials.

-It is a great strategy for challenge accounts such as FTMO , Trueforexfunds , Myforexfunds , Thefundedtrader, as the drawdown rate is low and the win rate is high. Don’t forget to thank me after passing your funded trader challenge.

The Worst Case Scenario You Will Experience”

Some of your entries will be wrong. These will happen, especially when you don’t put the strategy in your brain. You will break the rules. You will be in a hurry. And you will try to keep your trade in drawdown for a long time. Your psychology will tire and you will lose big money. With the same awful psychology, you will enter another bad trade to get back your losses. And you will experience the same loss again.

There is 1 way to avoid the scenario I said above. Use stop loss. And never touch your stop.
Outside of this scenario, it’s impossible for you not to make money with my strategy.

Having a high win rate means you most likely know which way the trade will go each time. This is an incredible skill. So don’t close your trade going in the right direction. Take your stop to breakeven. And let your trade move in the right direction. You should not close your trade immediately after seeing some profit.

If you don’t forget this simple and annoying rule, I promise you will turn off positive every month.

All profitable traders you see have a strategy. And they have been implementing their strategies for years. Whether it’s very simple. Whether complex. If you have a winning strategy, stick with it. Live with it. Be grateful for your strategy and yourself. That is all.

Now we can move on to strategy, setup and rules.

Installation and Explanation of Indicators

1-Harmonic Scanner

2-Breakout Signal

3-Brilliant Reversal

4-Auto Trend Channel Plotter Indicator

5-200 EMA

6-RSI and Significant RSI Levels

7-RSI Scanner

8-Samuel Cluster – Timing Indicator

9-FibPivo Levels Indicator – Significant Intraday Levels


10-Best Forex Backtest Indicator


1-]Harmonic Scanner

Harmonic Formations are the technique used to determine high probability turning points/reversal points in financial markets since these points are determined by Fibonacci levels; Fibonacci levels form the basis of these formations.

This methodology defends the thesis that financial markets progress in the same way as life continues in a cycle by repeating itself with certain formations. The aim is to find these formed patterns and make high probability buying or selling transactions.

The most preferred harmonic formations include Gartley, Bat, Butterfly, and Cypher formations.

It will take a lot of time to try to detect harmonic patterns in every pair and time frame. It is almost impossible to do this manually. Our indicator will automatically detect harmonic patterns.

In the example above you see a bearish harmonic pattern. A Bearish Shark harmonic formation has been formed. The ones with tomato red color give a bearish appearance. And a downward movement starts from the point where the harmonic ends.

In the example above, you see a bullish Gartley harmonic pattern. An upward movement started from where the formation ended. These formations, which are light blue on the inside, give a bullish signal. And an upward movement begins where the harmonic formation ends.

At the moment we can only recognize the appearance of the indicators. I will explain exactly how to use it in the videos and in the rest of the pdf. No need to worry.

2-]Breakout Signal

Breakout signal alone performs the functions of 6 different important indicators. And it gives us insight into important reversal points.

A large part of the HMFX scalp strategy consists of finding reversal points. We aim to sniper entry from the bottom to a trend and get the maximum profit from the position.

We will use the breakout signal as a confirmation. Sometimes it can exhibit repaint behavior. This is because the breakout signal actively performs indicator calculations. Calculations will change as the market moves. If the reversal calculations of 6 different indicators are also correct, the signal will appear. Does not exhibit 90% repaint behavior.

3-]Brilliant Reversal

This indicator, in addition to what the breakout signal indicator does; It applies an algorithm in itself according to the size of the candles. It is a great reversal indicator. They appear in several ways, as you can see in the picture below.

Signal shown as 1 in picture: Outside red, inside red. This signal indicates that the uptrend is very close to exhaustion. It says Downtrend reversal may come.

Signal shown as 2 in picture: Outside black inside green. This signal indicates that correction action may occur in the bearish trend.

Signal shown as 3 in the picture: Outside black, inside red. It indicates that Countertrend is over and the downtrend will continue.

Signal shown as 4 in picture: The outside is green. It is green inside. It shows that the downtrend is beginning to wear out and the uptrend can start anytime.

As soon as you see these signals, do not blindly trade. These are confirmation signals. When I explain the full strategy, you will understand how to use them. These indicators actively make calculations in the flowing market. Therefore, they can show repaint behaviors.

For example, you have a vehicle. Your indicator showing the gasoline status tells you that your gasoline has reached critical levels. This is a warning for you. But if you cannot find gas in 1 minute, your vehicle will not stop. But if you stop at the first gas station and get gas in 5 minutes, it won’t be bad. I hope you understand what I mean. Indicators warn us, it is up to us to take actions.

4-]Auto Trend Channel Plotter Indicator

This indicator will appear automatically in the current market conditions if there is a trend channel. And it will automatically renew itself with every change of trend angle.

5-]200 EMA

The 200 EMA will give us dynamic trend direction. Normally our trend lines are just a linear line. The 200 EMA dynamically shows us the angle changes in the trend.

Believe me or not. 200 EMA is the best Moving Average indicator and period you can see.
You will find that the market constantly respects the 200 EMA. We will mention this especially when talking about Gold.

You will see that the market reacts seriously at the touch points to the 200 EMA.

6-]RSI and Significant RSI Levels

RSI is the most important part of our strategy. RSI shows us that the market is either overbought or oversold. We will use the RSI in the 14th period.

Default RSI levels are 30 and 70. The RSI argues that if the market moves above 70, the market will correct in the selling direction. Likewise, if the RSI drops below 30, it can be prepared for a buy position.

However, we will not use these levels. We will use 84-75, 25-16 levels. When the market reaches 84-75 RSI levels, we will start looking for sell.

When the market reaches the 25-16 RSI levels, we will start looking for buy.

In my backtests, I saw that RSI is the strongest indicator in Gold and indices. And I added this to my strategy. The first of our trade entry rules is to approach our RSI levels. Then we will have to wait for other confirmations and rules.

I will explain them in detail in the videos.

7-]RSI Scanner

If you are trading multiple pairs, you may miss the RSI levels, which are the most important part of our strategy. You will be able to instantly scan RSI levels in multiple time frames and parities.

You can make the market you want to add or remove from the indicator settings.

You can even get an alarm. I turned off the alarm because I was very uncomfortable.

The appearance of the indicator is as follows.

8-]Samuel Cluster – Timing Indicator

This indicator, with its own algorithm, calculates the possible reversal points of the market. It does this in parallel with the timing indicator. In this way, it goes through 2 different verification processes before it appears on your chart.

Repaint does not exhibit behaviors. It is an incredibly strong confirmation. It appears in cluster form. Or it appears as colored dots.

Blue Clusters = BUY

Orange Clusters = SELL

9-]FibPivo Levels Indicator – Significant Intraday Levels

If you have noticed, I never said I used fibonacci, the most important tool in forex. We will use the Fibonacci levels indirectly. Harmonic formations are determined according to fibonacci levels.

There is also an indicator we will use. This indicator automatically determines key fibonacci levels during the day. You will notice that the market is reacting critically at these levels.

10-]Best Forex Backtest Indicator

I don’t want you to trade on the live account until you fully comply with the HMFX Scalp strategy. It will take a long time to trade and backtest on the demo account. Seeing entries on the finished chart will not gain you anything. So I’ll give you a great backtest indicator.

You will see how this indicator is used in the videos. You can do baktest faster. You will learn the strategy faster. I want you to practice over and over. This way, you will gain an inner self-esteem. Thanks to this confidence, you will get great results on your live account.

You can download the back data of forex pairs you want. For example; You can download 1-year Gold data and backtest. You can automatically see important news that affected the market in the past on your chart.

For now, we are familiar with our indicators. I will explain how to use our indicators and our trading entry strategies later in the training.

Now we will learn to draw the zone logic and the most important price levels in these zones. We will have 2 templates. We will have indicators in our first template. In our second indicator, we will draw our important zones and price levels. In this way, we will get rid of the chaos in single chart.

So what is this Zone logic?

Zone Logic and Determine Important Price Levels

We will usually enter our trades in M1 and M5 timeframe. However, we need to see where we are in the price by doing multi timeframe analysis. We need to see the general market structure. If we are in risky areas in high timeframes, we should be careful with our entries in M1 and M5 timeframes.

Prices always move between supply and demand zones. Liquidity providers prevent the price from going lower or higher with order blocks in the supply and demand zones. And prices move from zone to zone. There are 2 types of zones.

Supply Zone: The price zone that most people know as “resistance”. However, this is not the case. Zones do not only cover 1 price level. It covers a certain price range.

Demand Zone: The price zone that most people know as “support”.

Finding zones is very simple. The price zone where the price constantly rejects is called the Zone. For example; a bullish movement started. Bullish continued for 1 hour.

Within the next hour, the market followed a sharp turn in a bearish behavior. We can call these regions where the price reverses sharply as “fresh zones”. (We call newly created and previously untested zones “fresh zones”.)

Banks stopped the market with high lots. We will draw our zones according to the H1 – H4 timeframe.

In H1 and H4, if there is no price traffic on the left side of the chart, this situation is called “no mans land”. So it is very difficult to draw a zone. In this case, we need to draw zones according to the Daily or weekly timeframe. This situation is rare.

We should always draw zones on wicks. In this way, we can easily see the refusal movement of the price. You cannot draw zones on candles.

The most important price level among these zones is called “significant price level”. This is what “support-resistance” is. These important price levels are the most important turning points inside zones. The market that rejects the price throughout the Zone gives full return at these single price levels.

If a zone is broken, it will retest to that zone. For example ;

In a bullish market, if the supply zone is broken, that zone becomes a demand zone. And they become a good entry zone for traders who want to enter the market. Therefore, when the zone is broken, it will be subject to 90% retest.

I will teach you to find zones and find important price levels in the video tutorial.

Do we have to draw the zones? Yes we have to.

Imagine. The price is very critical at high timeframes and you are preparing for scalp on the M1 and M5. If there is a risky situation in high timeframes, M1 and M5 scalp entries are invalid.

For example ; New York market opened. The market has the highest level of volume. The dollar is very weak. The H4 timeframe has a price level that has been tested many times over. This level can be broken with high volume. You open a scalp transaction for sell. But the market starts the stop gathering movement with a high volume. And an incredibly big bullish movement begins. Then your sell entry is invalid.

I will talk about such scenarios in the “Rules” section.

Reversals and Important Candlestick Patterns

When we log in to Trade, what we most want is to become TP as soon as possible. If we cannot quickly become TP and we will need to actively manage our trade, we should be familiar with the reversal and candlestick patterns I will list below.

We should know reversal and candlestick patterns well because;

Our indicators will give dozens of entries. Not every entry is correct. They allow us to filter our entries.

When we enter trades, they enable us to actively manage our trades. If our trade is struggling to become TP, we can understand this and exit the trade.

If our trade is at a loss, we can understand that our setup is no longer valid.

Our trade is moving in the direction of profit but if we do not know when to exit the trade, reversal and candlestick patterns will be very useful for us.

Do not worry. You don’t need to learn every reversal and candlestick pattern. We will see 7 of them that will come across the most. Let’s get started!

1-M/W Formations and Triple TOP/BOTTOM

If you have met Forex before, you will know these patterns well.

It is one of the best reversal patterns. Let’s say you have the opportunity to enter the second leg of the W formation. Our indicators also give confirmation. Your formation is also in W reversal view. Then you can enter your trade safely.


You entered Trade in the first leg of the W pattern. You are in a Buy position. Trade at a few pips profit. And you haven’t closed the trade. Then it started going down for the second leg of the W formation. You started to worry.

Because you were just in profit. W formation completed. The buy movement started again. You now know that the market has completed the W formation. You can relax now.

You will walk towards profit again.

2-Bullish – Bearish Engulfings

It is one of the most used candlestick patterns in financial markets. Its definition is as follows.

The last formed candlestick is big enough to cover a few previous or previous candles. It is a nice reversal pattern showing that the direction of the momentum is changing.

For example ; You entered the trade early. You’re in a little drawdown. You are waiting for trade to come to Profit. Then came a big engulfing candlestick. You can relax now. Probably your trade will start moving in your direction.

3-Bullish/Bearish Pinbars

It is called when a candlestick’s wick is larger than its body.

The big wick in the candlestick indicates whether the price is rejecting up or down. Especially pinbars formed on zones will mean a lot to us.

4-Big Wick/Big Rejection Candlestick on Zone or Significant Price Level

The big wicks that will occur in the Zones tell us a lot about the state of the market. As we mentioned earlier, zones have very large order blocks.

If the market reacts like a big wick when it comes to zones, we have to understand that limit orders have been triggered and a large rejection zone has been created. This is a great reversal view. It is an incredible reversal view to see this especially on M30 and higher timeframes.

5- Indecision Candlestick Stack

This reversal candlestick pattern may not always give correct results. I will show you 2 different scenarios below. When the indecision candlestick stack starts to build, if you don’t have stop loss, you should put it right away.

Most of the time, the trade will turn in your direction. In some cases, tradedoes not go in your direction. In such cases, you can avoid big losses by using stop loss.

You can see this pattern a lot in Gold. That’s why you should watch your trade carefully.



6- Asymmetric W/M Pattern (the scenario you will see the most.)

We’ve seen the M and W pattern before. The asymmetric M / W pattern is different. This is the most common reversal pattern you will encounter in Gold and indices.

It has a structure similar to the situation in the image below.


M or W should not give a symmetrical image. It indicates that the momentum of the price is starting

to run out and our trade is heading in the right direction. If you look at the second leg of W / M, it has never reached the level of the first leg.

I love this setup. I usually enter the trade in the first leg of M / W. It keeps me in a little profit. And then my trade starts moving in the opposite direction.

I’m not worried and I’m watching the price move.

Then it starts to make asymmetrical W / M. And my trade is starting to move in the direction I want. You will get incredibly beautiful results guys. These are patterns that have been tested many times.



This is a great reversal setup. For example; price is moving with bullish momentum. Our other indicators and the RSI gave a good SELL signal. And you got into the trade. The bullish momentum is not over and you have fallen into drawdown. You started to worry. You expect the price to be reverse as SELL.

While all this is happening, watch carefully the movements of your RSI.

When divergence begins to form between the price action and the movements of the RSI; You will realize that the market is starting to lose momentum and the price is exhausted.

In this case, the direction given by the RSI is valid. You can understand the situation better in the example below.


1-)RSI Scanner Template, HMFX Scalp Template, Clean EMA template will be opened in different tabs.

2-)The chart we want to trade will be opened.

3-)H1 and H4 major zones will be drawn. Minor zones can also be drawn in lower timeframes.

4-)H1 and H4 significant price levels will be determined and drawn.

5-)The first and most important indicator is our RSI levels. We will not be looking at any other indicator signals until the price reaches our RSI levels.

6-)Seeing current RSI levels across multiple markets and timeframes will save us a lot of time. That’s why we constantly check our RSI scanner.

7-)RSI levels are different in each timeframe. Since we are scalpers, we will use M5 and M1 timeframe. RSI sometimes reaches critical levels in higher timeframes as well. In such cases, you can convert the same setup strategy to Intraday trade. And you can aim to get bigger profits. Sometimes I do that too.

For example;

In Gold, there is a setup view in my H1 timeframe that complies with all my rules. In this case I’m expecting higher pips gain, with lower lots.

8-)When the RSI reaches our critical levels, we expect at least 1 more confirmation from our other indicator signals. If at least 1 signal confirmation does not come, we do not enter that entry. We have 5 other indicators that we expect to give us a confirmation. If we do not receive at least 1 more confirmation, we will never trade.

9-)If we get 1 or more confirmations and the price is not at a critical level in the zones we have drawn, we can enter the trade.

10-)We do not trade in the Asian Session. I forbid this to you. In the Asian Session, there will not be enough volumes in the market and our strategy will not work well.

11-)You are prohibited from trading on High Impact news hours.

When the New York Session arrives, there will be incredibly large volumes. You may be subject to harsh and aggressive bullish / bearish trend moves. You can stay in the opposite direction. So, you have to be very careful if you are going to trade in NY session. I recommend that you put stop loss as the volatility will be too high.

12-)It is forbidden to trade in the closing volumes at night. (In the session blocks before the Asian Session starts). During these hours, people tend to close their trades and the unloading movement begins in the market. In such cases, our strategy will be invalid.

13-)Use a maximum of 25-30 pips stop-loss on Gold. You don’t need to lose that many pips in 1 position. You will have dozens of enrty opportunities throughout the day. Admit the damage and wait for the other entries.

14-)Use a maximum of 60 points stop loss on indices. (Nasdaq, Dow Jones, Ger30) You will have an incredible number of entries, especially in indexes. Do not forget. We have a strategy with a win rate of around 80%. Do not lose a lot of money in 1 position.

15-)If you are losing 2 trades in a row, leave the table. Or close the day. Wait for the next day.

16-)If you close 3 trades with profits in a row, call it a day. Wait for the next day. If you feel good, you can trade all day long. This is my personal rule.

17-) Put a minimum of 15 pips TP in Gold.

Put a minimum of 40 points TP in the indices.

If you are going to keep your trade longer, bring your stop-loss to the breakeven after you go to profit.

18-) 200 EMAs are very critical. For example; If you have opened a BUY position and the price has reached the 200 EMA level, you can close the trade. The price may react in the 200 EMA zone and go down again.

Now I will give you examples of best entries and worst entries.



Samuel Cluster = SELL


Brilliant Reversal = SELL

Breakout Signal = SELL







Brilliant Reversal = SELL

Breakout Signal = SELL

RSI Level = Above 84 , OVERBOUGHT , SELL

M1 Timeframe Entry on GOLD



RSI Level = 25 , OVERSOLD , BUY

Harmonic Pattern = BULLISH BUTTERFLY , BUY

Brilliant Reversal = BUY

Breakout Signal = BUY


Candlestick Pattern = PINBAR, PRICE REJECTED

M15 Timeframe , US30 Entry



RSI Level = 25 , OVERSOLD, BUY


Brilliant Reversal = BUY

Breakout Signal = BUY

M5 Timeframe, NAS100




Harmonic Pattern = BEARISH SHARK , SELL

Brilliant Reversal = SELL

Samuel Cluster = SELL

M5 Timeframe, US30





Harmonic Pattern = NO

Brilliant Reversal = NO

Breakout Signal = NO

Zone = NO


New York Session = STARTED 1 MINUTE AGO

M5 Timeframe, US30



NOTE : Don’t open a “SELL” position just because it has reached our RSI level.

Harmonic Pattern = NOT FORMED

Brilliant Reversal = NO

Breakout Signal = NO

Samuel Cluster = NO

Zone = NO

High Impact News = YES

Pre New York Session = YES

M5 Timeframe , XAUUSD(GOLD)




Samuel Cluster = NO

Brilliant Reversal = NO

Breakout Signal = NO

Harmonic Pattern = NO

New York Session = STARTED 2 MINUTE AGO

Zone = NO


M5 Timeframe, NAS100


Last Words

Test my strategy over and over again after watching the video tutorials. Once you’ve gained inner confidence, start trading on your live account.

There are thousands of types of traders ;

-Traders who only scalping with market opening volumes

-Traders who only trade forex pairs

-Traders who only trade 1 pair

-Position traders who only trade 3 times a month

-Traders looking for swing positions

-Traders who only trade indices

-Traders who only trade with important news

etc etc.

All traders have only one goal. Making money from the Forex market.

The traders who make the most money have only 1 strategy that they have implemented for years. No matter how complex or how simple your strategy is. If you are making money at the end of the day, you are a good trader.

My team and I have made incredible money with my strategy.

We have winning streaks over and over.

We make money stress-free, without risking our accounts.

Life is chaotic anyway. Why are you making your forex adventure chaotic too?

Hold on to my strategy. Apply it every day. Master it. And send me your results. I love you guys. Good luck!


Before I begin my notes for this update, I should point out a few things.

Nothing has changed in the first version of our strategy course. So the mentality is the same. There is no fundamental change. We’re going to take a few things out of the first version of our strategy. And we will add dozens of new things in its place. In this way, we will optimize our strategy. I repeat. You will learn a lot in addition to the first version of our strategy and don’t forget anything in the first version.

What I’m going to teach you in this update is exclusive to XAUUSD only. Do not forget that each forex pairs has its own special characters. It is enough for us to master 1 forex pairs to earn our living.

I only trade 90% XAUUSD and 10% GBPJPY. Looking at, following, and examining every forex pairs does not make you a good trader. In this process, you become very tired and lose your focus.

In the new update I will teach you techniques, you will catch on intraday trades. So swing traders and intraday traders don’t worry. You will learn how to capture entries where you can keep trades longer.

I will talk about the new rules in more detail in the next section, but this is more important than anything else I will talk about. XAUUSD crashed in flash on August 9th 2021. A slump of 900 pips occurred within 15 minutes. Can you imagine buying instead of selling, and not using stop-loss in your Live account? Your account will explode in seconds. If you are going to trade XAUUSD, the first thing to do is to determine your stop-loss point. I forbid you to trade without stop-loss.

We will use more price actions. In addition to waiting for our RSI critical levels or just our critical zones; You will catch new entry points with the new information I will teach you.

We will do all our analysis in Tradingview. We will use our indicators in Metatrader4 to see if there is any extra confirmation before entering the trade.

If you don’t know how to use Tradingview, I will show you how to use it. You don’t need to give any money. Their free version will be enough for us.

Here are our take out from the first version of our strategy :

– In XAUUSD, I no longer look for trade entries in the M1 timeframe. I noticed that it prevents me from holding my trades in profit direction longer. Also, I noticed recently that the candles in the M1 timeframe are not very healthy and are constantly gaping for the day. That’s why I recommend that you stop looking for entries in the M1 timeframe. I’m not saying that our entries in the M1 timeframe don’t work anymore. I just realized that in many ways the M1 timeframe is starting to hurt me and making my trades unhealthy. I would also recommend you to stay away from the M1 timeframe. We will look for entry in 90% M5 + 10% M15 timeframe.

– One of our indicators installed in Metatrader4; I no longer use CLUSTER, AUTO CHANNEL PLOTTER and Pivot indicator.

We will use 2 new indicators instead. [MACD and CCI]. I will talk about this in the following sections.

– Now I only trade GBPJPY and XAUUSD.

Analyzing other forex pairs, indices etc etc … While I was trying to search for the right entry in all of them all day, I saw that my productivity was badly affected. And at the end of the day, I realized that I couldn’t make effective trades, or even keep trades going to profit. I also recommend you to specialize in only 2 pairs.

What did we add in the new update?

Let’s look at the topics. I will explain all of them in detail in the following sections. And I will support these narratives with video tutorials.

1. Using Tradingview

2. Use of new indicators : Double MACD + CCI

3. DragonFly Doji Reversal Pattern

4. Filtering M5 RSI entries without eating slippage drawdown

5. Determining the KEY LEVELS ****

6. Determining Trendline and Channel Movement

7. Determining Point of Control (P.O.C) and Imbalance Orderblocks

8. Using Volume Data Effectively = Volume Reversal & Volume Breakout

9. Detecting Breakouts = Tight Range Breakout , Accumulation Phase ***

10. Sharp Candlesticks Reversals

11. Effective Use of Fibonacci

The new content we have added is designed for you to understand things more clearly in XAUUSD. Rather than confuse your chart analysis, we enable you to see things more clearly when looking at the chart.

Let’s start.

1. Using Tradingview

Being able to analyze charts in Tradingview is 10 times better than in metatrader4. So we will use tradingview for our analysis. We will also receive confirmation from our indicators installed in Metatrader4. However, it is worth mentioning. Indicators interpret past price movements with mathematical formulas and each indicator has a different mathematics in itself. Therefore, getting confirmation from the indicators will always be in the background. First we will analyze the price action in Tradingview. Then, when there is a possible entry chance, we will check whether there is a confirmation on our indicators before entering the trade.

You can sign up for free with your gmail account by going to Tradingview.com. We will use the free version of Tradingview.

I will show the usage of Tradingview in the video tutorial. Typing it here will be too long. But I need to show the tradingview template settings that I am using.

If you adjust the view of your chart like this, you can see everything more clearly.

We will use 3 indicators in Tradingview. RSI, 200 EMA and Volume. I will talk about volume in the next sections.

In the free version of Tradingview, you cannot use more than 3 indicators in your chart. No problem. We will only need 3 indicators. I will show the indicator settings and usage in the video tutorial. Roughly speaking, you add new indicators to your chart as you can see in the picture below.

2. Use of new indicators : Double MACD + CCI

As I mentioned before, we removed 3 indicators from our template. Cluster, Pivot Indicator and Auto Trend Channel Plotter.

We have added 2 more effective indicators instead. Double MACD and CCI.

You can find the new template in the UPDATE 1.0 folder.

Why did we remove 3 indicators? We realized that we haven’t been using these 3 indicators much lately. And we replaced them with 2 more effective and meaningful indicators.

There is no need to go into the anatomy of these indicators. I will talk briefly.

In Double MACD = there is signal and ema line. When the cross occurs, it means that the MACD is giving a reverse signal. We will not use the other green and red bodies in the MACD.


line crosses -100 from below and moves up = BUY

Line crosses +100 from the top and moves down = SELL



The interoperability of these two indicators is very nice. In the meantime, we will also use our other indicators. Since these indicators are new, I explained them here.

RSI always signals faster reversal. Then CCI. And the last MACD gives the reversal signal. Don’t miss your entry by waiting for all indicators to signal in the same direction with our other indicators. As I said before, indicators will always be secondary.

After the possible entry chance comes, we will enter our HMFX scalp template in metatrader4 and see if there is a confirmation. If there’s more than one confirmation, that’s fine. Our price action analysis is ready. And some of our indicators agree with us. In this case, we can enter the trade with more confidence.

3. DragonFly Doji Reversal Pattern

DragonFly Doji pattern is a pattern that we have come across frequently lately.

If we see this pattern especially in critical zones and critical points given by our price action analysis, we will have more confirmations. And the probability of being suitable for entry increases more.

The needle shaped candlestick you see in the picture above is the dragonfly doji. Did you notice a bullish move before the dragonfly doji candle came along?

And the dragonfly doji was formed exactly in the area where I expected a reversal. For the pattern to fully occur, the candle after the dragonfly needs to be bearish. (because it is bearish reversal in this example. bullish reversal is the opposite)

You can then catch a reversal trade in the SELL direction. As you can see in this example, we have found a good entry for ourselves by analyzing the intraday price action movements without waiting for the RSI critical levels. You will find many entry approaches like this in the new update.

If you find it difficult to see all these patterns by the time I finish this update, you can still just wait for the M5 RSI to reach critical levels. No problem. Everything will evolve over time as you constantly see these patterns.

Note that all the examples I gave are from the M5 timeframe.

What you see in the example below is a dragonfly doji candlestick pattern that looks like a BUY reversal.

Again at a critical price level, this occurred while waiting for an image for the reversal. Then we will have another strong confirmation for the trade.

4. Filtering M5 RSI Entries Without Eating Slippage Drawdown

As you know, we were waiting for our RSI levels to reach critical levels in M1 and M5. This was our biggest rule.

This rule hasn’t actually changed. Just ,we have removed M1 RSI scalps in the new update. This will reflect on your trading career in a healthier way. On the other hand, M5 RSI scalp entries give 5-10 entry opportunities a day on some days. Some days give 1-2 good entry opportunities.

Some days, M5 RSI scalp entries do not work well. The entry we entered falls into the slippage and stops us. Have you experienced this situation? I think you are experiencing the following example.

In the picture you see above, a big bearish movement has started. And no M5 RSI scalp entry works. How do we enter the correct M5 RSI scalp entries? You have 2 options.

As soon as the M5 RSI scalp image comes up, you will enter the trade right after the current candle has closed. And if you are close to a good zone or important reversal point, this RSI will strengthen the probability of your scalp entry.

I will now explain your other option. I think it would be a more worthwhile approach. I’m starting.

In the picture you see above, you see an example of SELL reversal RSI scalp entry. By the time CANDLE-1 is closed, the RSI overbought is already reaching our critical levels. After this bullish CANDLE-1, we will follow the entry. The candle that comes after CANDLE-1 needs to break the wick level below CANDLE-1 and close bearish.

However, as you can see in the example, the bullish in CANDLE-2 has closed and created a new high and a new low. And overbought has taken us right into its critical levels. In this case, now our new reference is CANDLE-2. CANDLE-1 we don’t care anymore. Because we have a new bullish candle. New high and new low.

If the next candle breaks the wick below CANDLE-2 and the bearish closes we will enter the trade. As you can see CANDLE-3 broke the wick under CANDLE-2. And bearish closed. Attention please. The CANDLE-3 bullish could close even if the wick was broken. You have to wait for the candle to close.

CANDLE-3 both broke the wick of the previous candle. And closed with bearish form. Now we can enter the trade.

I recommend placing your stop-loss 15-20 pips. Some hours have incredibly hard pips movements and you need to put your stop-loss on the structure. In such cases, your stop-loss may increase. In this case, you enter a trade with a lower lot size.

TP target is 1:1.5+ risk/reward ratio.[if your stop-loss is 20 pips , then put TP = 30 pips] Trade with a minimum of 1:1 risk/reward. Or let your TP level be the next most critical point possible (key levels, zones, trendlines, etc. I will explain these in the next section).

Let’s do another example.


It was closed as BULLISH. And the Overbought RSI has reached its critical level.


It was closed as BULLISH. New high and new low. And this candle continues to move inside the Overbought RSI critical levels.


Closed as BEARISH. But it couldn’t break the wick under CANDLE-2. In this case our reference is still CANDLE-2. Because the closest we have is Bullish Candle CANDLE-2.


Closed as BEARISH. And it broke CANDLE-2’s wick. In this case, we can enter the trade right after CANDLE-4 is closed.

What if a big body candle like the one below hits our RSI critical level? In this case, it would take quite a while to reach and break the wick of this candle. What should we do in this situation?

As you can see in this example, a big bullish movement has started and the market is not stopping. You are looking for the right entry with the RSI critical level candle tracking. And boom! An incredibly large bullish candle formed.

In this case, there are 2 things you need to do. The first is very simple. Release the Market and let the market go until our next most likely reversal point.

Second, try to see the reversal patterns I taught earlier. Or try to see the reversal/breakout patterns I will teach you in this new update. (Imbalance Orderblocks, Asymmetric M/W patterns, Fibo critical levels etc.)

RSI is just an indicator that performs mathematical operations. It works very well with GOLD. But as you can see, it doesn’t always work well. In this case, we will need to use our price action information. You will be able to see the right entry point with the methods you will learn in the following sections and the methods you have learned before. Or don’t trade after big bullish/bearish candles like this one.

5. Determining the KEY LEVELS ****

Key levels were something I indirectly taught you before. If a zone – or price level was working as resistance before, but then breaks and starts working as support, that zone or price level is called a “key level”.

The same is true for the opposite. (previously working as support – breaking – now working as resistance.)

XAUUSD loves to respect key levels. Especially if you have a fresh key level, XAUUSD loves to bring the price back to these regions.

If there is a level that worked as support before, it will be retested after it is broken. And then this region is called “key level”.

If you remember, we used to call “key levels” “broken supply/demand zone” before. We will now call these levels “key levels”.

Let’s look at a few examples together.

So how do we use them as inputs? As you can see in the example, the level that previously worked as support is broken. Then you should know that this region has turned into a “key level”. In this case, it will be subject to retest. When it comes to retest, we will make an entry from this region. Because our price action rules say so. “Key Levels will be retested.”

As you can see in the example above, the price came to our key level 2 times after the retest and the downward movement started again.

This is because key levels are important trade areas. A large number of orders accumulate in these areas. You can think of it as a petroleum office. People know there is gasoline here. The market maker always pushes the price towards these areas to bring more players into the market.

I am trying to determine these key level entries in M5 and M15 timeframes. As I said before, the stop-losses in the entries in M30 and above timeframes are too big and I don’t like this situation.

6. Determining Trendline and Channel Movement

Trendline and channel movements are very important in XAUUSD. It’s something I’ve overlooked before, but I’ve seen in my backtests how important it is lately. It is one of the first forex information that most of you learn.

When used correctly, you can catch intraday or swing trades that yield huge pips profit. Here we will see a few trendline and channel examples. In the video tutorial I will show you how to identify them and how to draw effectively.

We will start the Trendline and Channel drawing from the H4 timeframe.

We will identify the H4 – H1 and M5 trendlines and channels.

Not to be complicated, we will draw the trendline and channel of each timeframe in a different color. We will search for our entries again in the M5 timeframe.

As you can see above, the orange channel is in the H4 timeframe

Purple channel in H1 timeframe

The pink channel is drawn in the M5 timeframe.

In order to draw a trendline, two price points must be combined on the same line. I think you already know this.

For something to be called “channel movement”, there must be a parallel image between 2 trendlines.

We can see the reversal movements of the price more clearly in the trendline and channels.

A trendline is formed thanks to the first 2 reversals. In this way, we determine the possible point of the 3rd reversal. The most important thing in this channel movement within 2 trendlines is the 3rd trendline touch.

I recommend that you never miss 3.trendline touch.

Be alert at the 4th trendline tap. Because a trendline break may occur.

Note that from the touch of the 5th trendline, the probability of breaking the trend line is very high.

As You can see above, we have an M5 sell entry. Will the price on Trendline make a sharp turn? Usually this is not the case. Usually in these areas you should look for our patterns/patterns. As you can see, after making an asymmetric M pattern, the downward movement begins.

Are there any sharp turns? Of course it can. This is up to you. If you are afraid of missing the action, you can enter the trade right away. But most of the time I would like to see at least one of my reversal patterns in trendline touch areas.

Never underestimate Trendline touches. And don’t ignore it. The SELL entry you see in this example gives exactly 60 pips profit. In 20 minutes…

How did we determine the TP? Of course, thanks to the trendline under the channel. These 2 trendlines need to be parallel to each other. In the video tutorial I will show you how to draw them.

Let’s look at another example.

As you can see in the example above, there are 2 great trendline reversal buy entries. Touching the Trendline, the market gets a reaction from there and a clean BUY move begins.

None of these entries are RSI entries. Our RSI may be at a critical level also. This further strengthens the signals that reversal may come.

As you can see in the example above, there are price overflows in trendlines. Small price overruns like this are not so important. What matters is whether there is still a trendline/channel move in the big picture.

Your trendline should touch as many candles as possible. But try not to cut the bodies of the candles. (excluding price overflow zones)

As you can see in the example above, the trendline breaks and the price retests the broken trendline. This region is also a trade entry for us.

The broken trendline is subject to retest. I see my asymmetric W reversal pattern and trade in the BUY direction.

A broken trendline is not always retested. As you can see in the example below, the price continues its downtrend before it retests the trendline. Our task is to identify possible entry points and enter the trade. We do not enter the trade blindly.

In the example you see below, the uptrend is broken. And the broken price level turns into a “key level”.

In this case, our expectation is that the price retests this region. If the price comes to retest, we will make a decision for SELL by combining everything we know, with the help of our reversal patterns or indicators in this region. Our target will be the next untested zone.

If you have noticed, we do not enter the SELL position from the candle right after the trendline is broken. We have to wait for the retest.

The retest zone is always the safer zone. If you jump straight into the market, your stop-loss will have to be huge. Because you will need to put stop-loss on the structure.

7. Determining Point of Control (P.O.C) and Imbalance Orderblocks

POCs and Imbalances are not generally taught in the Forex market. They usually show these topics on the Futures Market.

I am a trader who also trades in the futures market. And I’ve found that this information also works in the forex market. It’s very difficult to get a full view of just these POC and Imbalance zones. However, I will teach you a few tricks.

P.O.C stands for “Point of Control”. It is the price level at which the largest number of trades takes place in a candle. In the futures market, you can see the number of contracts of those who trade in the futures parity. However, it is not possible to see this in the forex market.

Because the forex market does not have a central order collection institution. The most traded price level in candles in the futures market looks like this:

The black boxes you see above are the most traded areas within a candle. These regions act as “in-candle support/resistance”. So POCs are support/resistance points inside the candle.

Again, the numbers on the left side of the candles in the picture you see above show how many sellers there are in the market, and the numbers on the right show how many buyers there are. If there is a significant difference in the number of buy-sell trades at these price levels within a candle, we call it IMBALANCE.

In other words, we say that IMBALANCE has occurred in the candle. IMBALANCEs also act as support/resistance zones within the candle. The difference from POC is that POC occurs only at 1 price level. IMBALANCEs act as support/resistance throughout a certain region of the candle.

Why did we learn this? Because if the market retests these IMBALANCE AND POC levels, reversal movement is likely to come from these regions. Since we cannot see the number of buyers and sellers in the Forex market, we cannot pinpoint IMBALANCE AND POCs, but we can guess.

I don’t want to confuse you. So I won’t go into other details.

In the figure below, you can see an example of IMBALANCE formation in the Futures market.

In the example you see below, we have detected a POC and Imbalance in XAUUSD. How do these usually occur? As you can see in the picture, there is a downtrend. And then a big bullish candle closes.

Then, when the market comes to test this bullish candle again, it finds support somewhere in the body of this candle and the downtrend movement does not continue. Reversal is happening. If you look carefully, the white block we have drawn seems to represent a zone of Imbalance within this bullish candle.

The price is almost getting reaction from the region where this white box is. But if you notice again, this zone is not a general zone/support or other important zone we learned.

It is a fresh area that has just been formed. Because in this area, in the bullish candle that is formed, Imbalance takes place. The box we drew fits perfectly under this Imbalance zone.

And again, if you look carefully, there is a specific price level inside this Imbalance orderblock. 1812.467… This price level can also be the POC level formed inside the bullish candle and can act as minor support on its own.

You can detect Imbalance orderblocks anywhere. In particular, Imbalance orderblocks are the cause of the asymmetric M and W patterns we mentioned earlier.

You can understand this better in the example below.

If we correctly determine that an Imbalance Orderblock has occurred, we can try entry without even having to wait for RSI critical levels.

Imbalance Orderblocks are not always created by 1 candle. More than one candle can have the same image. If these candles come in succession, our Imbalance orderblock region will grow.

In the example below we see Imbalance orderblocks in 2 bearish candles. Our asymmetric M reversal pattern is formed. And we get a great reversal SELL entry.

8.Using Volume Data Effectively = Volume Reversal & Volume Breakout

Have you ever seen the volume profiles your forex broker gave you? They provide you volume data like below.

As we all know, our forex brokers only present this data as volume data that occurs within their broker. It is impossible for them to present data from all over the world.

For example, if you are using Exness as a broker, you can only see the volume traded in Exness in the XAUUSD volume profile, which will not produce a consistent result.

If you had instant access to volume data from all over the world, you would probably be the richest trader in the world, which is impossible.

So what would you do if I told you that there is data that is somehow, if not completely, consistent, and that this data is ridiculously free?

The institution with the largest forex settlement data in the world is CLS.


However, they do not openly provide this data to retail traders.

Instead, they give this data to Quandl.com as an API. [quadl financial data API]

You don’t have to buy anything from quandl. I don’t even know how to buy it. lol.

I continue to explain things. We’ll get to the point where I want to teach you.

If you open XAUUSD with OANDA broker in tradingview, they will provide you volume data. OANDA is one of the best and largest brokers in the world.

Does this volume profile image that OANDA provide us free of charge really give the most realistic results?

I did research on this subject and came to an incredible conclusion. Even if it doesn’t give exact results, it has a close correlation of 90% with the volume data of CLS, which has the closest results to the truth.

I think there are very few people in the world who do research on this.

That ugly and useless volume profile you saw on Tradingview can be very useful in some places. I will teach them in this section.

E.g; price started to come to a critical zone. Will it be a reversal? Or will it be a breakout? We couldn’t quite decide. And we may not have seen any of our reversal patterns.

In this case, look at the volume profile. If the volume profile increases as we approach our critical zone, the price may break that zone.

If the volume is decreasing, reversal may occur in this region. I tried to teach you this in the picture below.

In the example below, the price is heading towards the key level. However, if you pay attention to the volume profile, BUY volumes decrease. In this case, the price cannot break the key level.

And the indecision candlesticks that I have taught you before are formed. A SELL reversal can then be tried. Which, as you can see in the example, would be a great trade.

You can use volume data anywhere. No problem. However, I don’t want you to get confused in your analysis. After all, not everything is certain in forex. I recommend that you look at this volume data only in critical areas.

Also note that volume data works better at higher timeframes. The examples I showed you are all from the M5 timeframe.

9. Detecting Breakouts = Tight Range Breakout , Accumulation Phase ***

As you know, we have always talked about reversal patterns with you. Because reversals are harder to detect. Detecting breakouts is simpler. Also speaking from my years of experience, GOLD would be 80% reverse, 20% breakout.

In fact, most breakout traders are disappointed when the reversal starts. After 10-15 pips, the market will reverse. Because that move is fakeout, not breakout. I will also teach you how to detect fakeouts.

But some times XAUUSD is subject to constant and continuous breakout. In narrow range days like this, we will have to look for breakout entries.

One of the best ways to detect breakouts is to effectively “using the volume profile” I taught you above.

Let’s do one more example.

Accumulation Phase Breakout : Occasionally, you will find that GOLD is stuck within a tight range of 30-40 pips for hours. Market makers deliberately design such areas.

After collecting enough orders in these areas, they breakout the Market in one direction. These breakouts can sometimes take several days to arrive.

Sometimes it can take several hours. If these accumulation zones last for a few hours, a breakout of around 70 pips will usually follow.

If you see an accumulation that lasts for days, start to be afraid. Because when the market breaks this narrow range in one direction, an incredible trend will start.

These accumulation zones are made consciously. If you spot an accumulation zone, make sure the market only breaks in one direction and try a breakout trade if you want. Otherwise, stay away from the market.

In the example below I have shown you an accumulation breakout in XAUUSD.

As you can see in the example below, there are 2 accumulation breakouts. The longer the accumulation zone, the greater the breakout.

Before detecting breakouts, you need to look at the market broadly. After determining important things such as trendline, channel, key levels, zones, check whether you are in the accumulation phase.

In general, the accumulation phase begins before the big news. With the news, the market breaks in one direction.

If there is a fakeout in the region we think is the breakout, it will usually be around 10-15 pips. Then the price will enter the range again. In this case, do not persist in holding the trade.

It will not be a correct breakout entry.

Fakeouts can sometimes hurt us a lot. Because most traders enter the trade right after the candle that broke the accumulation range. In this case, if the market moves in the opposite direction, you could fall into a big drawdown.

Best of all, actively monitor whether there will be a breakout. And if the pips amplitude of the candle breaking the accumulation is too large, do not trade after this candle. Because your stop-loss will be huge.

10. Sharp Candlesticks Reversals

Sharp candles are very important in XAUUSD. This is very good, especially if sharp candlesticks are formed in places we believe will come reversal.

As you can see in the picture below, the bullish candle that comes after the bearish candle is almost the same as the candle before it. Even the wick levels of the two candles are almost the same.

The candle after candle formations that look like this type of railway can be a “trade candle” for us.

You will see this formation almost everywhere. So wherever we see this candlestick pattern will not be suitable for trading.

So we should notice this candlestick pattern in the following places:

-RSI at critical levels

-At the touch of Trendline

-In Imbalance Orderblock regions

-At Key Levels

Otherwise, you will be confused and you will start looking for sharp reversal candlesticks everywhere.

A sharp candlestick BUY reversal spotted on Demand Zone

11. Effective Use of Fibonacci

We will rarely use the Fibonacci retracement tool. Sometimes the market can start an incredible bullish or bearish move. And if we want to enter the market from the most suitable place, we will use the Fibonacci retracement tool.

Fibonacci is the most effective weapon you can use to join this great trend.

XAUUSD usually retraces after every 100 pips move. During volume hours or after important news, this can usually go up to 140 pips. But generally speaking, we can expect a retracement after a non-stop 100 pips move.

After the retracement, you can enter the market in the direction of the trend.

After the current top and bottom of the market are clear, draw your fibonacci tool between these two levels. And you expect the market to retracement to the 0.38 fibo level. Then you are looking for a suitable entry to enter the trade. The price has a 70% chance of retracement at 0.38. There is a 30% chance that will retracement at 0.50 fibo level.

Market view with retracement up to 0.618 doesn’t mean anything to me. Because the trend movement may be over. I know. Many of you know 0.618 as the most important fibo level. However, according to my scalp method, if I want to enter the trend from the most suitable place, I enter the 0.38 fibo level or the 0.50 fibo level. Otherwise, I will not enter the trade.

Let’s do a few examples.

As you can see in this example, a big bearish movement has started. Imagine that you missed most of this action and you want to enter the market from the most convenient place. As you can see the price traffic on the left is empty. T

here is no critical level. We draw our fibonacci tool from the top to the bottom. Our levels where the price will likely retracement are 0.382 or 0.50. We enter the trade at 0.382 in the direction of SELL.

We place our stop-loss above our 0.50 fibo level. In the example above, our stop-loss is approximately 17 pips. And after this retracement, +100 pips bearish movement took place.

Fibonacci will come in handy in special places like this. If the big bearish/bullish movement starts and you want to enter the market from the most convenient place, use fibonacci.

Let’s also make an example for a bullish move.

As you can see in the example above, there is no significant price level on the left and there is no level where I can jump to the market in the direction of the trend.

After the retracement is realized, you can enter the market in the direction of the trend at the level of 0.382. As you can see the market is breaking the peak where the retracement started.

This will give you an extra confirmation. If the price reacts and reverses after reaching the top where this retracement started, then you can exit the trade early. However, as you can see in this example, the market is breaking this peak with a huge bullish candlestick.


I supported everything you learned with video tutorials. Don’t get confused with the new updates. We still have a strategy that works bulletproof. Briefly speaking, you will follow the order as follows.

1-) Identifying Trendlines/Channels = H4 – H1 – M5 timeframe

2-) Identifying Zones = Supply- Demand Zones = H4 – H1 – M5 timeframe

3-) Identifying Key Levels

4-) Identifying Imbalance Orderblocks -P.O.C

5-) Reversal Patterns – Breakout Patterns – Candlestick Patterns

6-) M5 Timeframe Entry Rules – Risk:Reward Ratio

7-) Getting Confirmation From Indicators

8 -) Risk Management – Securing the Profit – Discipline

I hope you learned a lot of new things from this insanely superior article I prepared.

Share with me if you apply this forex scalp strategy and earn money or pass one of the FTMO , Trueforexfunds , Myforexfunds , Thefundedtrader challenges!

See you in the next great strategy posts!

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