1-Minute Forex Scalping Strategy For CAD/CHF
The 1-Minute Forex scalping strategy for the CAD/CHF pair is an awesome trading strategy that doesn’t require professional know-how of the currency markets or broad understanding of technical analysis principles.
The strategy has been designed to trade the CAD/JPY and a wide-range of other forex pairs with pretty much the same positive results.
Bear it in mind that this scalping strategy is able to adapt to both high and low volatility market conditions.
You will be able to scalp the market consistently on M1 and M5 charts.
Let’s makes sense off the trading rules with the ensuing examples.
MetaTrader 4 Indicators: chanel scalper.ex4 (Default Setting), price-emas.ex4 (Default Setting), Commodity Channel Index.ex4 (Parameters Modified; Period=35)
Preferred Time Frame(s): 1-Minute, 5-Minute
Recommended Trading Sessions: London and New York
Currency Pairs: CAD/CHF + any other low spread pair (EUR/USD, GBP/USD, USD/JPY,…)
Buy Trade Example: CAD/CHF (Canadian Dollar / Swiss Franc), M1 Chart
Long Entry Rules
Initiate a buy entry if the following indicator or chart pattern gets put on display:
- If the orange line of the chanel scalper custom indicator aligns somewhat below the candlesticks as seen on Fig. 1.0, bulls are said to be driving price higher, therefore a buy alert is said to be looming.
- If the line of the price-emas forex indicator hovers above the blue and red lines as shown on Fig. 1.0, the overall market sentiment is said to be bullish, thus a trigger to buy the designated currency pair.
- If the light sea green line of the Commodity Channel Index Metatrader 4 forex indicator breaksand hovers above the 0.00 horizontal level as depicted on Fig. 1.0, price is said to be pressured to the upside, thus a trigger to buy the currency pair of interest.
Stop Loss for Buy Entry: Place stop loss below short-term support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions takes precedence:
- If while a bullish trend is running, the chanel scalper indicator pops up a yellow line above the price bars (see Fig. 1.0), bulls power is said to be weaning, as such an exit or take profit stance will suffice.
- If the blue line of the price-emas indicator intersects the red line while a bullish trend is ongoing, the bullish momentum is said to be weaning, hence a trigger to exit or take profit immediately.
- If the light sea green line of the Commodity Channel Index forex indicator breaks below the 0.00 horizontal level while a bullish trend is on course, a bearish reversal is said to be imminent, therefore an exit or take profit stance is recommended.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the yellow line of the chanel scalper custom indicator aligns somewhat above the price bars as illustrated on Fig. 1.1, bears are said to be pushing for lower prices, thus a sell signal is said to be forthcoming.
- If the red line of the price-emas forex indicator runs above the blue and green lines as exemplified on Fig. 1.1, the general market sentiment is said to be bearish, as such a sell alert will suffice.
- If the light sea green line of the Commodity Channel Index forex indicator dips and runs below the 0.00 horizontal level as demonstrated on Fig. 1.1, price is said to be driven to the downside, thus a signal to sell the designated fx pair.
Stop Loss for Sell Entry: Place stop loss above short-term resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If during the course of a bearish trend, the chanel scalper indicator displays an orange line below the candlesticks (refer to Fig. 1.1), bears power is said to be diminishing, as such an exit or take profit stance is recommended.
- If the blue line of the price-emas indicator intersects the green line while a bearish trend is running, more and more bears are said to be leaving the market, hence a trigger to exit or take profit straightaway.
- If the light sea green line of the Commodity Channel Index forex indicator surges above the 0.00 horizontal level during the course of a bearish trend, a bullish reversal is said to be in the offing, therefore an exit or take profit stance is advised.
Sell Trade Example: CAD/CHF (Canadian Dollar / Swiss Franc), M1 Chart
About The Forex Technical Indicators Used
The chanel scalper is a trend indicator that paints an orange (bullish trigger) line below price bars and a yellow (bearish trend) line above price bars to depict market trends.
The price emas is a custom indicator that is built on a default 10, 50 and 200 exponential moving average periods, offering trader’s trend following capabilities.
The Commodity Channel Index or CCI is a momentum based indicator that falls under the oscillator classification.
Regardless of its name, the CCI is not exclusively designed for the commodity market but can be used in the forex market to gauge overbought/oversold conditions, as well as spot trends.
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