Trend Line Forex Scalper provides an easy, yet effective way to scalp the forex on 1 min forex charts. The strategy is composed of the Stochastic oscillator and rising or falling trend lines.
Chart Setup:
� Preferred currency pair to trade: Major Currency Pairs
� Trading Indicators: Stochastic Oscillator (default settings: 5,3,3)
� Time to Trade : Euro and Us Session
� Timeframe: 1 Min
Trend Line Forex Scalper Example
How it works :
BUY TRADE
� Draw a significant rising trend line in a up trending market.
� The currency pair retreats towards the rising trend line but doesn't close below.
� Open a buy trade if the Stochastic oscillator turns back above 20 from oversold readings below 20 (gray circle on the chart above).
� Place your stop loss 1 pip below the rising trend line.
� Price objective 20 pips or better.
SELL TRADE
� Draw a significant falling trend line in a down trending market.
� The currency pair retreats towards the falling trend line but doesn't close above.
� Open a sell trade if the Stochastic oscillator turns back below 80 from overbought readings above 80.
� Place your stop loss 1 pip above the falling trend line.
� Price objective 20 pips or better
See other indicator..... CLICK Here...
---- sbudij / KarawangForex ------ by; Willie VD Perre
Chart Setup:
� Preferred currency pair to trade: Major Currency Pairs
� Trading Indicators: Stochastic Oscillator (default settings: 5,3,3)
� Time to Trade : Euro and Us Session
� Timeframe: 1 Min
Trend Line Forex Scalper Example
How it works :
BUY TRADE
� Draw a significant rising trend line in a up trending market.
� The currency pair retreats towards the rising trend line but doesn't close below.
� Open a buy trade if the Stochastic oscillator turns back above 20 from oversold readings below 20 (gray circle on the chart above).
� Place your stop loss 1 pip below the rising trend line.
� Price objective 20 pips or better.
SELL TRADE
� Draw a significant falling trend line in a down trending market.
� The currency pair retreats towards the falling trend line but doesn't close above.
� Open a sell trade if the Stochastic oscillator turns back below 80 from overbought readings above 80.
� Place your stop loss 1 pip above the falling trend line.
� Price objective 20 pips or better
See other indicator..... CLICK Here...
---- sbudij / KarawangForex ------ by; Willie VD Perre
