It's funny how things are evolving lately. I discovered the 4 hour volatile scalp as a way to catch the tail end of a big momentum with good probability of success (more important that it's successful than catching a million pips per trade).
Then I discovered a way to get in earlier with the hourly V-M hybrid momentum based volatile scalp that catches the tail end of a similar big move, with a lot more setups possible and still high probability of success.
Then I tweaked that by going down to M5 at times to see when such a volatile hourly move actually begins to retrace and give a high/low fib break out at a better price before the hourly close - again high probability of success given the way the setups are decided from type of momentum appearance and suitable pip range to trade from.
And today I think I've found a way to get in on THAT even earlier. It's just a thought for now and I'm doing the chart analysis to see if it's feasible, but it's a combination hourly-M5 again, using ways of analyzing the hourly momentum including the previous day (sort of like I've discussed recently), judging sentiments of trend bias, then when a decision is made, look for a setup and get in earlier than ever before so far on these scalps.
If it works out as I hope, the risk:reward might possibly be 1:2 instead of 1:1 as it is now in the 60 - 38 + 38 scalp
Stay tuned.
Then I discovered a way to get in earlier with the hourly V-M hybrid momentum based volatile scalp that catches the tail end of a similar big move, with a lot more setups possible and still high probability of success.
Then I tweaked that by going down to M5 at times to see when such a volatile hourly move actually begins to retrace and give a high/low fib break out at a better price before the hourly close - again high probability of success given the way the setups are decided from type of momentum appearance and suitable pip range to trade from.
And today I think I've found a way to get in on THAT even earlier. It's just a thought for now and I'm doing the chart analysis to see if it's feasible, but it's a combination hourly-M5 again, using ways of analyzing the hourly momentum including the previous day (sort of like I've discussed recently), judging sentiments of trend bias, then when a decision is made, look for a setup and get in earlier than ever before so far on these scalps.
If it works out as I hope, the risk:reward might possibly be 1:2 instead of 1:1 as it is now in the 60 - 38 + 38 scalp
Stay tuned.
"Support and Resistance either holds or it doesn't."
-Anonymous hillbilly