We will scalp intraday, usually at M1, M5 and M15.
The FOREX market is chaotic in nature, not systematic. By definition, no system would be applicable, nor would it work consistently but eventually, depending on the market condition. (However, check out this post: https://www.forexfactory.com/thread/...4#post14021394)
From this premise, we would infer that the search for a system, the holy grail, to obtain benefits from the market, is an unattainable utopia.
We have tons of legacy tools, to quantify, order and simplify the way charts are drawn.
Thus, we have: candles/bars, price action, waves, patterns, support/resistance, tick volume, trend lines, channels, chart figures, averages, oscillators...
These tools allow establishing the market condition at that moment, and in different time frames. This allows us to know if the market is bullish, bearish, and if it is for the short term, the medium term or the long term.
The market is also affected by session changes (Asian, European, American), the behavior of other markets and their correlations, waiting for news, etc...
The combination of all these elements will guide the trader in making decisions.
This decision making should be done through Price Action, as the only reliable trigger.
You can post your ideas here on how to treat and take advantage of market conditions.
For there to be consensus we will define trend:
A trend begins with a reversal pattern and therefore ends with a reversal pattern of the same degree, fractal, or time frame.
Generalizing, we could say that it is about establishing THE MARKET CONDITION and applying the appropriate strategy at the moment: ADAPT TO the market.
Go https://www.forexfactory.com/thread/...1#post14004331
Examples of price action:
The FOREX market is chaotic in nature, not systematic. By definition, no system would be applicable, nor would it work consistently but eventually, depending on the market condition. (However, check out this post: https://www.forexfactory.com/thread/...4#post14021394)
From this premise, we would infer that the search for a system, the holy grail, to obtain benefits from the market, is an unattainable utopia.
We have tons of legacy tools, to quantify, order and simplify the way charts are drawn.
Thus, we have: candles/bars, price action, waves, patterns, support/resistance, tick volume, trend lines, channels, chart figures, averages, oscillators...
These tools allow establishing the market condition at that moment, and in different time frames. This allows us to know if the market is bullish, bearish, and if it is for the short term, the medium term or the long term.
The market is also affected by session changes (Asian, European, American), the behavior of other markets and their correlations, waiting for news, etc...
The combination of all these elements will guide the trader in making decisions.
This decision making should be done through Price Action, as the only reliable trigger.
You can post your ideas here on how to treat and take advantage of market conditions.
For there to be consensus we will define trend:
A trend begins with a reversal pattern and therefore ends with a reversal pattern of the same degree, fractal, or time frame.
Generalizing, we could say that it is about establishing THE MARKET CONDITION and applying the appropriate strategy at the moment: ADAPT TO the market.
Go https://www.forexfactory.com/thread/...1#post14004331
Examples of price action:
Adaptarse es la clave
