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78# Advanced Trendline Scalping Strategy

Submit by joy22

 

Time Frame: 1min, 5min.

Pairs: EUR/USD, GBP/USD.

 

Forex Indicators:

75 EMA (1min Chart), 50Ema (5min Chart)

Advanced Trendline

Long Entry

1) The 50 exponential moving average is sloping up and the currency exchange price is trading above the 50EMA.

2) Draw falling trend lines in the up trend (see chart above).

3) BUY the if the price breaks and closes above the falling trendline.

4) Place your stop loss 3 pips below the breakout candlestick. Your stop loss should never exceed 15 pips, stop loss minimum 10 pips.

5) Take profit is 8 pips (EUR/USD), 10 (pips GBP USD).

 

Short Entry

1) The 50 exponential moving average is sloping down and the currency exchange price is trading below the 50EMA.

2) Draw rising trend lines in the downtrend.

3) SELL the if the price breaks and closes below the rising trend line.

4) Place your stop loss 3 pips above the breakout candlestick. Your stop loss should never exceed 15 pips, stop loss minimum 10 pips.

5) Take profit is 8 pips (EUR/USD), 10 (pips GBP USD).


Advanced Trendlines Metatrader Indicator

Advanced Trendlines Metatrader Indicator
Advanced TrendLines.rar
compressed file archive 5.5 KB

 

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Trendline Forex Strategies

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