Stochastic 1 Min Forex Scalper

The stochastic 1 min forex scalper trades with the overall trend. The strategy uses a 100 simple moving average for trend determination and a stochastic oscillator with default settings to pinpoint the trade entry.

We always trade near significant support and resistance levels for improved trade performance and low risk to reward trades.

Trade Preferences:

• Currency pairs: Majors
• Trading sessions: Euro and US
• Timeframe: 1 Min chart

Indicators

• Simple Moving Average period 100
• Stochastic Oscillator (default)

GBP/USD 1 Min chart Example

Stochastic 1 Min Forex Scalper Trading Rules:

BUY TRADE

1. Price trades above the 100 SMA.
2. Find significant levels of support and draw horizontal a line.
3. Wait for the currency price to retreat back to the support line.
4. Wait for the stochastic oscillator to trade from below 20 back above 20.
5. Open a long trade.
6. Place stop loss 1 pip below support.
7. Profit target should be at least 20 pips or more.

SELL TRADE

1. Price trades below the 100 SMA.
2. Find significant levels of resistance and draw horizontal line.
3. Wait for the currency price to retreat back to the resistance line.
4. Wait for the stochastic oscillator to trade from above 80 back below 80.
5. Open a short trade.
6. Place stop loss 1 pip above resistance.
7. Profit target should be at least 20 pips or more.