Trend Line Scalper Strategy

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