Mastering Forex with the

Mwabu_FX_Sniper 618 Scalping

Strategy"
Introduction

Welcome to "Mastering Forex with the Mwabu_FX_Sniper 618 Scalping

Strategy," an eBook that simplifies the art of Forex trading. I'm Denis Mabu,
and I'm excited to introduce you to a strategy that has transformed my trading
journey. In this eBook, I'll take you through the 618 Scalping Strategy step by
step, demonstrating how you can make Forex trading both simple and profitable.

In the fast-paced world of Forex, clarity and simplicity are often the keys to
success. With the 618 Scalping Strategy, you'll need to grasp just two
fundamental concepts: price action supply and demand. These are the pillars
upon which we build a straightforward and effective trading approach.

So, let's dive in. We'll start by understanding where the price is heading –
whether it's an upward trend or a downward one. The essential rule is to always
trade in harmony with the market direction.

In the second phase, we'll explore the art of spotting breaks in the trend and
then patiently waiting for a retest of the crucial 618 level. How do we identify
this level? It's a strategy I've honed over years, and it involves using Fibonacci
retracement. Once you've marked your 618 zone, the next step is to ensure
your entry is solid.

Patience is a virtue that many traders overlook, but it's the linchpin of our
strategy. To fine-tune your entries, we'll use an EMA 50 indicator, a single tool
to pinpoint your ideal trading zones.
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 But our journey doesn't end at the entry point. The 618 strategy is a holistic
approach, guiding you from identifying the trading zone to locating supply and
demand zones, and ultimately, determining the precise pips you're targeting.

In this eBook, I'll provide you with a visual roadmap of these strategies. You'll
witness me walking through the steps, ensuring you gain a comprehensive
understanding of each aspect. With this visual guidance, you'll be well-equipped
to trade the Forex market with confidence.

The 618 Scalping Strategy is designed to simplify your trading and provide a
clear, structured approach to the markets. By the end of this eBook, you'll have
the tools, knowledge, and confidence needed to master Forex trading with the
Mwabu_FX_Sniper 618 Scalping Strategy. Let's get started.

PRICE ACTION

Defining a Trend: A trend in Forex refers to the general direction in which the price of
a currency pair is moving. There are three primary types of trends:

Uptrend (Bullish Trend): An uptrend is

characterised by higher highs and higher lows.
In an uptrend, prices are generally rising over
time.
 Downtrend (Bearish Trend): A downtrend is
characterised by lower highs and lower lows. In
a downtrend, prices are generally falling over
time.

Sideways Trend (Range-Bound): A sideways trend occurs when prices move within a
defined range, without a clear upward or downward bias.

Identifying Trends: Price action trend analysis involves visually identifying the trend by
observing price movements on a chart.look for sequences of higher highs and higher
lows (uptrend) or lower highs and lower lows (downtrend) over a series of candlesticks.

Key Elements of Trend Analysis:

Swing Highs and Lows: Swing highs are the highest points in an uptrend, while swing
lows are the lowest points in a downtrend. These points are critical for trend
identification.

Trendlines: Trendlines are drawn to connect swing highs or swing lows, visually defining
the trend's trajectory.

Moving Averages: Moving averages, such as the Simple Moving Average (SMA) or
Exponential Moving Average (EMA), can help smooth out price data and provide trend
direction.

Trading in the Direction of the Trend: Trading with the trend is a core principle of
price action trend analysis. Traders aim to go long (buy) in an uptrend and short (sell) in
a downtrend. This strategy capitalises on the momentum of the trend.
Confirmation Signals: use various price action patterns and indicators to confirm the
strength of a trend. For example, a strong bullish trend might be confirmed by higher
highs and higher lows along with bullish candlestick patterns like engulfing patterns or
bullish pin bars.

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Spotting breaks in the trend and then

patiently waiting for a retest of the crucial
618 level.

Description:

Formation: An ascending triangle forms when there is a price consolidation phase in an

uptrend. It consists of two main components: a horizontal resistance line and an
ascending trendline that serves as support. The price oscillates between these two
lines, creating a triangle pattern.
Key Features:

The horizontal resistance line is formed when the price repeatedly encounters a level
where selling pressure temporarily halts the upward movement.
The ascending trendline is drawn by connecting the higher lows that the price makes
during the consolidation phase.
The pattern resembles a triangle with a flat upper boundary and a rising lower
boundary.
Interpretation:

Bullish Bias: The ascending triangle pattern is considered a bullish continuation pattern.
It suggests that the prior uptrend is likely to resume, and prices will move higher after
the consolidation period.

Triangle's Target: Traders and analysts often use the triangle's height (measured from
the initial low to the horizontal resistance line) to estimate the potential price target
when the breakout occurs. The target is usually placed above the resistance line and
indicates where the price may head once it breaks out of the pattern.

Trading Strategies:

Entry: Traders typically look to enter long positions (buy) when the price breaks above
the horizontal resistance line. This breakout signals a potential bullish move.

Stop-Loss: Setting a stop-loss order just below the ascending trendline or the previous
swing low can help manage risk in case the pattern fails and the price reverses.

Take-Profit: The take-profit level is often set at or near the estimated target based
on the triangle's height.

Confirmation: To enhance the probability of a successful trade, traders often seek

confirmation from other technical indicators or patterns, such as volume analysis or
additional chart patterns.

Timeframe: Ascending triangles can appear on various timeframes, from short-term

intraday charts to longer-term daily or weekly charts.
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It's important to note that while the ascending triangle is generally a bullish pattern,
no chart pattern guarantees a particular price movement. Traders should use it as part
of a broader technical and fundamental analysis to make well-informed trading
decisions.

Description:

Formation: A descending triangle pattern forms when there is a price consolidation

phase in a downtrend. It consists of two main components: a horizontal support line and
a descending trendline that acts as resistance. The price oscillates between these two
lines, creating a triangle pattern.

Key Features:

The horizontal support line is formed when the price repeatedly encounters a level
where buying interest temporarily halts the downward movement.
The descending trendline is drawn by connecting the lower highs that the price makes
during the consolidation phase.
The pattern resembles a triangle with a flat lower boundary and a descending upper
boundary.
Interpretation:
Bearish Bias: The descending triangle pattern is considered a bearish continuation
pattern. It suggests that the prior downtrend is likely to resume, and prices will move
lower after the consolidation period.

Triangle's Target: Traders and analysts often use the triangle's height (measured from
the initial high to the horizontal support line) to estimate the potential price target
when the breakout occurs. The target is usually placed below the support line and
indicates where the price may head once it breaks out of the pattern.

Trading Strategies:

Entry: Traders typically look to enter short positions (sell) when the price breaks below
the horizontal support line. This breakout signals a potential bearish move.

Stop-Loss: Setting a stop-loss order just above the descending trendline or the
previous swing high can help manage risk in case the pattern fails and the price
reverses.

Take-Profit: The take-profit level is often set at or near the estimated target based
on the triangle's height.

Confirmation: Traders often seek confirmation from other technical indicators or

patterns to enhance the probability of a successful trade, such as volume analysis or
additional chart patterns.

Timeframe: Descending triangles can appear on various timeframes, from short-term

intraday charts to longer-term daily or weekly charts.

As with all chart patterns, it's essential to remember that while the descending
triangle is generally a bearish pattern, it doesn't guarantee a particular price
movement. Traders should use it as part of a broader technical and fundamental
analysis to make well-informed trading decisions.

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 WHAT IS THE 618 LEVEL AND
HOW TO USE IT
The 618 level, often referred to as the 61.8% level, is a crucial aspect of Fibonacci
retracement in technical analysis. It plays a significant role in identifying potential
reversal or continuation points in price movements. Let's delve deeper into what the
618 level is and how it is used:

What is the 618 Level (61.8%) in Fibonacci

Retracement:

The 618 level represents the 61.8% retracement level in the Fibonacci sequence. This
level is derived from the Fibonacci sequence, a mathematical concept found in various
natural phenomena. In financial markets, Fibonacci retracement is applied to analyze
price movements and identify potential support or resistance levels.

Retracement: In the context of price movements, a retracement refers to a temporary

reversal or pullback in the direction of the prevailing trend. This means that after a
significant price move in one direction (up or down), the price retraces or moves back a
certain percentage of that move.

61.8% Level: The 618 level represents a retracement of 61.8% of the previous price
move. In other words, if the price has moved from a low to a high, the 618 level
indicates that it retraces approximately 61.8% of that upward movement. Conversely, if
the price has moved from a high to a low, the 618 level indicates that it retraces
approximately 61.8% of the downward movement.

Using the 618 Level in Trading:

The 618 level is utilized by traders to identify potential support or resistance areas
and make trading decisions. Here's how it is commonly used:
Identifying Key Levels: use the 618 level, along with other Fibonacci retracement
levels (such as 38.2% and 50%), to identify potential levels where price may reverse or
continue its trend.

Higher Timeframes: look at the 618 level from higher timeframes, such as the 1-hour,
4-hour, or daily charts. The higher the timeframe, the more significant and powerful
the 618 level is perceived to be.

Entry Confirmations: Once the price approaches the 618 level on a higher timeframe,
traders often move to lower timeframes, such as the 5-minute (M5) and 15-minute
(M15) charts. On these lower timeframes, they look for additional entry confirmations,
which may include the identification of supply and demand zones, candlestick patterns,
and technical indicators.

Probability-Based Trading: Trading is not just about entering a trade when the price
touches the 618 level but also seeking additional confirmation signals that increase the
probability of a successful trade. These confirmation signals enhance the trader's
confidence in the trade setup.

In summary, the 618 level is a key retracement level in Fibonacci analysis that helps
traders identify potential reversal or continuation points in price movements. By using
it in conjunction with higher and lower timeframes and seeking additional entry
confirmations, traders aim to make more informed and probabilistic trading decisions.

Examples:
Let's consider a practical example in an uptrend:

If the price has been rising and reaches a high point, a trader might use Fibonacci
retracement to identify potential support levels. The 618 level, when applied, could
suggest that the price might retrace approximately 61.8% of its previous upward move.
If price approaches this level and shows additional bullish signals, it may be an
opportunity for a long (buy) trade.

In a downtrend scenario:
If the price has been falling and reaches a low point, the 618 level might indicate a
potential retracement of approximately 61.8% of the preceding downward move. If
price reaches this level and exhibits bearish confirmations on lower timeframes, it
could be an opportunity for a short (sell) trade.

By applying the 618 level, traders aim to make informed trading decisions while
managing risk, always keeping in mind that no single tool or level guarantees market
outcomes. It's just one part of a comprehensive trading strategy that combines
technical and fundamental analysis for success in Forex trading.

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