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Trendline Scalping System

Quoting ziele
Guys, when u look at the D1 Candle do u pay attention to size and shape of the candle( for example hammer or shooting star) or only RED or GREEN for Sell or Buy ?
The D1 candle is a dynamic price action in progress, unless you’re talking about the previous day candle which is already set and closed. Take a look at the D candle below, at the open and until the NY open it was red, then after NY open it reversed. So before that you would have taken sell trades if the RSI was below 50, I took two sell trades, then after that the candle became green and RSI was above 50 so I took a long trade exited when the rsi histo changed color. By that time the D candle started to have a longer upper wick and there was an opportunity to take a short trade but I did not take it coz too close to LC.
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Quoting lbtrader
{quote} The D1 candle is a dynamic price action in progress, unless you’re talking about the previous day candle which is already set and closed. Take a look at the D candle below, at the open and until the NY open it was red, then after NY open it reversed. So before that you would have taken sell trades if the RSI was below 50, I took two sell trades, then after that the candle became green and RSI was above 50 so I took a long trade exited when the rsi histo changed color. By that time the D candle started to have a longer upper wick and there...
it looks like most of your trades are reversals after the MAs cross back over into the direction of the daily candle rather than pull backs into an ongoing trend. is this a different type of entry than the entry in the first post?

I missed the trade in the attached image today as I am also working but it looks like a good example of the type of pull back we are looking for, though the MFI is not ideal at the time of the break.
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Quoting mmb91
{quote} it looks like most of your trades are reversals after the MAs cross back over into the direction of the daily candle rather than pull backs into an ongoing trend. is this a different type of entry than the entry in the first post?
How is it different if I'm taking my trades in the same direction of the daily candle, do you think that D1 starts red and stays red all the time? or vice versa? sometimes like the example I showed it starts red and the trades were short, then it turned green and so what am I supposed to do? wait for it to become red again? I'm not looking at higher TF to see what the trend is, if the trend is up or down for several days in a row then yes I would ride the trend and enter on pullbacks, but days like this one you have mini trends which you can ride and also enter on pullbacks.
In the example that you showed, the daily candle was green at the open all the way until 1 hour after NY open, then it turned red, and you have your 3 pullbacks, one before and two after
I find the MFI is misleading sometimes, that's why I combined the RSI and MFI in one histo by adding the RSI on top of the MFI, much cleaner signal in and out, but that's me.

PS: I find 6 opportunities in today's range not just 3
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Quoting lbtrader
{quote} The D1 candle is a dynamic price action in progress, unless you’re talking about the previous day candle which is already set and closed. Take a look at the D candle below, at the open and until the NY open it was red, then after NY open it reversed. So before that you would have taken sell trades if the RSI was below 50, I took two sell trades, then after that the candle became green and RSI was above 50 so I took a long trade exited when the rsi histo changed color. By that time the D candle started to have a longer upper wick and there...
Thank you so much.
What about pair selection, when u see FAT candle on EURUSD as example do u stay in that pair for the rest of the day if all day green candle will stay or u look for more pair and trade multiply pair in the same time. Im trying to get myself discipline, need advise please
Quoting ziele
{quote} Thank you so much. What about pair selection, when u see FAT candle on EURUSD as example do u stay in that pair for the rest of the day if all day green candle will stay or u look for more pair and trade multiply pair in the same time. Im trying to get myself discipline, need advise please
Not sure what you mean by FAT, but yes if the trend remains valid then I will stay in. I've yet to find a good exit indicator that will not take me out prematurely. Most of the time if the RSI indicates exit and the trend still valid then re-entry on pullback is few candles away.
I try to concentrate on one or two pairs, I do not trade all day and try to look for setups around LO or NYO.
quick one. i did also lose one earlier, though.

it does seem like london open has the best trade opportunities, at least on the few pairs i follow.
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Quoting mmb91
quick one. i did also lose one earlier, though. it does seem like london open has the best trade opportunities, at least on the few pairs i follow. {image}
Plenty opportunities around LO and NYO
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Quoting lbtrader
{quote} Plenty opportunities around LO and NYO{image}
For your last GU sell, my indicator did not show a red bar yet. Based on the MFI, it's not below the 50 line. But on yours it's red. How are you calculating the RSI and MFI?
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Quoting xiqat
{quote} For your last GU sell, my indicator did not show a red bar yet. Based on the MFI, it's not below the 50 line. But on yours it's red. How are you calculating the RSI and MFI? {image}
I am using the RSI and MFI bar, overlaid on top of each othe in one window. If you do that you will find that the RSI overpowers the MFI bar which I find useful and less confusing.
Quoting lbtrader
{quote} I am using the RSI and MFI bar, overlaid on top of each othe in one window. If you do that you will find that the RSI overpowers the MFI bar which I find useful and less confusing.
If that's the case, then the MFI isn't really being used.
Quoting xiqat
{quote} If that's the case, then the MFI isn't really being used.
I think so, yes, I just kept is because I did not do any testing without it and did not want to change the original recommendations from the creator.


PS: I just checked the settings of my MFI and found that the default is 15 not 14, try it and see if it will show red for you too.
The RSI default is 7 not 8, I did not not change them from whoever uploaded them so I assumed they're the same.
Quoting lbtrader
{quote} I think so, yes, I just kept is because I did not do any testing without it and did not want to change the original recommendations from the creator. PS: I just checked the settings of my MFI and found that the default is 15 not 14, try it and see if it will show red for you too. The RSI default is 7 not 8, I did not not change them from whoever uploaded them so I assumed they're the same.
I changed MFI to 15 and now it's red. Interesting
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Quoting xiqat
{quote} I changed MFI to 15 and now it's red. Interesting {image}
problem solved? you also need to change the RSI to 7 not 8. Whoever changed those settings must have done some testing and found the right settings.
I was wonder if will be possible to create telegram group for that trading system so we can all share ideas and live trading it will be much more faster
Quoting xiqat
{quote} If that's the case, then the MFI isn't really being used.
I don't want to change the system yet as I'm still learning and I may be missing something but it seems as though MFI is unnecessary. I will likely remove it in the future if I do not see a use for it but I'm keeping it as I gain experience. I've made one trade today and MFI was not in confluence – see attached image.
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Quoting ziele
I was wonder if will be possible to create telegram group for that trading system so we can all share ideas and live trading it will be much more faster
I would be interested in this
Entry on the break. I started trading M15 instead of M5 and I'm having more success. Trying SL 20 pips and TP 20 pips on M15.

Edit: note that MFI is not in confluence
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Quoting mmb91
Entry on the break. I started trading M15 instead of M5 and I'm having more success. Trying SL 20 pips and TP 20 pips on M15. Edit: note that MFI is not in confluence {image}
How long have u been trading 15 mins for compare to 5 min ?? i guess bigger TF is more accurate.
By the way today market is not good.
I have made Telegram Group channel for this scalping system. Feel free to join.

https://t.me/+tlgAkUGYZahjNDE0
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