Trend
Line Forex Scalping
Trend
Line Forex Scalping is a trend momentum strategy based on Trend Line
and fast stochastic oscillator.
Time
Frame 1 min or higher.
Major
Currency pairs.
Forex
Indicators:
Fast
Stochastic (5, 3, 3);
Draw
Trend Lines.
Sessions:
London and New York.
Trading
rules Trend Line Forex Scalping
Buy
•Draw
a trend line in a uptrending market that point up.
• When
that the price come back on the Trend Line
• Open
a buy trade if the Stochastic crosses upward from oversold area
• Place
initial stop loss stop loss 5 pips below the trend line.
• Price
objective 6 -10 pips.
Sell
•Draw
a trend line in a down trending market that point down.
• When
that the price come back on the Trend Line.
• Open
a sell trade if the Stochastic crosses downwarward from overbought
area.
• Place
initial stop loss stop loss 5 pips below the trend line.
• Price
objective 6 -10 pips.
In
second and third examples
WATL open source trend line Indicator metatrader 4.
Below
the link for down load WATL indicator Metatrader 4.
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