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Turtle Trading Channel Forex Scalping Strategy
This is a trend following strategy develop by Dennis Gartman and Bill Eckhart. It relies on breakouts of historic highs and lows to get and exit trades. This is tested to be a profitable system. This works on a 15 minute timeframe
and is applicable to all major pairs.
Forex Indicators:
- CCI (14);
- Barry Support and resistance;
- Turtle Channel.
Long Entry:
- Turtle Channel Blue;
- CCI is greater than 75.
- Open buy position if the candle price close above red dot Barry resistance.
Short Entry:
- Turtle Channel Red;
- CCI is less than < -75.
- Open sell position if the candle price close below blue dot barry support.
- Profit Target must be 8-13 pips depends by Currency pairs.
Stop loss:
- for buy 3 pips below blue dot barry support.
- for sell 3 pips above red dot barry resistance.
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