ForexLear shares an easy scalping strategy using the Conus RSI indicator in the gold pair 15-minute time frame. A buy trade is taken if the green line upper band breaks 70, while a sell trade is taken if the redline lower band breaks 30. Stop loss and profit targets are set at previous high/low points and set at 1:1. The strategy is successful in winning trades. Viewers are encouraged to like, share, and subscribe to ForexLear.

The Easiest Scalping Strategy for Forex Trading

Introduction

Forex trading can be a challenging task, especially if you are new to this field. However, if you know the right strategies and techniques, it can become a profitable venture. Scalping is one such strategy that is quite popular among traders. In this article, we will discuss the easiest scalping strategy that you can use to trade forex.

Opening the Gold Pair in 15-Minute Time Frame

Before we delve into the scalping strategy, it is important to note that we will be using the gold pair in a 15-minute time frame. Once you have opened the chart, you are ready to proceed with the strategy.

Using the Conus RSI Indicator with Changed Settings

The next step is to use the Conus RSI indicator. However, we need to change some of its settings to make it work with this strategy. Once you have made the necessary changes, you can proceed with the strategy.

Buy Trade

If the market breaks the Conus RSI indicator at a 70 level green line upper band upward, then it’s time to take a buy trade. The green line serves as a signal for confirmation. Once you have received the confirmation signal, place a buy trade. To secure your buy trade, set stop loss to the previous low point and set profit target to 1:1. If you follow these steps accurately, you will win this trade.

Sell Trade

On the other hand, if the market breaks the Conus RSI indicator at a 30 level red line lower band downward, then it’s time to take a sell trade. Again, the red line serves as a signal for confirmation. Once you have received the confirmation signal, place a sell trade. To secure your sell trade, set stop loss to the previous high point and set profit target to 1:1. If you follow these steps accurately, you will win this trade, too.

Repeat the Same Sequence

If you are successful in executing the two trades, then you can repeat the same sequence. The process remains the same, i.e., wait for the green or red signal, initiate the trade, and set stop loss and profit target. It’s essential to follow the sequence accurately to ensure consistency in your trades.

Conclusion

Scalping can be a bit risky if you are not sure how to execute the strategy. However, the easiest scalping strategy discussed above can give you an edge in trading forex. Remember that consistency is the key, and always follow the sequence and rules to win in this trade. So, if you want to improve your trading skills and make a profitable trade, then you must give this strategy a try. Happy Trading!