M1 Countertrend Scalping Strategy

Quoting gerval

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Thank you Abbot for sharing. A Cpfleger question, could you indicate how you managed the last trade you published in AU on m5? Although it was a very valid entry according to your criteria, the price remained strong without returning to the average below the entry level. Did you close with a small loss looking for BE or did you add any recovery operations?

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Quoting cpfleger

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Gents, I will add the fact all EMAs are zones and act as Support and Resistant Zones and for me they are temporary targets. I use this ratio as a Guide only, 9 Ema - 100%, 20 Ema - 75% (which my last screenprint trade hit - 4th and 5th candle wick), 50 Ema - 50% and 200 Ema - 25%. Do not take any EMA literally but as a guide due to the market will reverse quicker than you think especially over the last 3 years (Covid 19). I trade the HA Candle (Price Action) as the master decision maker but use the EMAs as targets if the market allows me to meet....

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Quoting cpfleger

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Gents, I did not screenprint the exit of the trade as I only screenprint entries to motivate people. But anyway, I exited on the 5th HA Candle as I sit and watch all my scalping trades as a Business. Once a Candle starts to reverse, I exit the trade with a small profit because this account is the wife's and she withdrawals all the money every Friday and leaves me with 10 usd to trade as she know I love a challenge. cpfleger

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