Trendline Scalper in a Trending Market
Submit by Forexstrategiesresources.com
Time frame:1 min;
Pair:EUR/USD, GBP/USD,AUD/USD
Spread:max 0.0015
Indicators:
Stochstic (5,3,3)
Short Entry Trendline Scalper in a down trending market. The currency pair retreats on the trend line but doesn't close above. Open a sell trade if the Stochastic oscillator crosses up from overbougth area. Long Entry Trend line in a up trending market. The currency pair retreats on the trend line but doesn't close below. Open a buy trade if the Stochastic oscillator crosses up from oversold area. Stop Loss 2 pips above or below The previous swing.Profit Target 6 pips AUD/USD, 7 pips EUR/USD, 10 pips GBP/USD
Long Entry
• Trendline Scalper 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
• Place your stop loss 3 pips below the rising trend line.
• Price objective 7-12 pips or better.
• Trendline Scalper 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
• Place your stop loss 3 pips below the rising trend line.
• Price objective 7-12 pips or better.
In the picture below an example of the TrendLine Scalper Forex System in action.
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