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M1 Countertrend Scalping Strategy

  • #1,901
  • Jan 22, 2023 11:08am Jan 22, 2023 11:08am
mansan,
candle 2 failed us but we should have closed in profit, we do NOT care about how much or pips yet...
cpfleger
  • #1,902
  • Jan 22, 2023 11:09am Jan 22, 2023 11:09am
mansan,
next red resistance Box is forming, so the Market is not done selling yet.
cpfleger
  • #1,903
  • Jan 22, 2023 11:13am Jan 22, 2023 11:13am
mansan,
this is patience time, if you look at the height of the candle Bodies after the 3rd green candle and to the latest candles, they are ranging, no real volume yet.
cpfleger
  • #1,904
  • Jan 22, 2023 11:14am Jan 22, 2023 11:14am
Quoting cpfleger
mansan, candle 2 failed us but we should have closed in profit, we do NOT care about how much or pips yet... cpfleger
True I was in profit but had to close in a slight loss ... my own fault because I was fixated on number of pips
veni vidi vici
  • #1,905
  • Jan 22, 2023 11:18am Jan 22, 2023 11:18am
mansan,
see how the zigzag pip number and resistance box work together ?
cpfleger
  • #1,906
  • Jan 22, 2023 11:19am Jan 22, 2023 11:19am
mansan,
another trick is after a good trend or countertrend, the market ranges.
cpfleger
  • #1,907
  • Jan 22, 2023 11:20am Jan 22, 2023 11:20am
Quoting cpfleger
mansan, see how the zigzag pip number and resistance box work together ? cpfleger
Honestly that is something that I do not fully understand, but I am watching it closely
veni vidi vici
  • #1,908
  • Jan 22, 2023 11:22am Jan 22, 2023 11:22am
mansan,
do not worry about profit or loss, learn to be patient, bounce off the 6 LWMA and be ready to close after 3 pips, we need 20 successful trades to go to phase 2.
cpfleger
  • #1,909
  • Jan 22, 2023 11:25am Jan 22, 2023 11:25am
mansan,
zigzag pip number is defining the HH so far and the resistance red box is stating there is a resistance zone in this area, previous dataset.
just learn to observe and know what they mean for now, heads up signals.
cpfleger
  • #1,910
  • Jan 22, 2023 11:26am Jan 22, 2023 11:26am
mansan,
the market is moving now upwards and we should see another red box start to form
cpfleger
  • #1,911
  • Jan 22, 2023 11:27am Jan 22, 2023 11:27am
Quoting cpfleger
mansan, zigzag pip number is defining the HH so far and the resistance red box is stating there is a resistance zone in this area, previous dataset. just learn to observe and know what they mean for now, heads up signals. cpfleger
Ooh I saw it happening right now with the zigzag, I understand
veni vidi vici
  • #1,912
  • Jan 22, 2023 11:28am Jan 22, 2023 11:28am
mansan,
there is an old rule, the market must go up (Banks need our money) before it can go down...
cpfleger
  • #1,913
  • Jan 22, 2023 11:30am Jan 22, 2023 11:30am
mansan,
for your information, go down to the ticks Indicators and watch the sellers data - number
cpfleger
  • #1,914
  • Jan 22, 2023 11:30am Jan 22, 2023 11:30am
Very interesting cpfleger
  • #1,915
  • Jan 22, 2023 11:31am Jan 22, 2023 11:31am
mansan,
buyers are trying to push upwards for double top.
cpfleger
  • #1,916
  • Jan 22, 2023 11:32am Jan 22, 2023 11:32am
Quoting cpfleger
mansan, for your information, go down to the ticks Indicators and watch the sellers data - number cpfleger
I forgot about that with all the info ... an extra confirmation
veni vidi vici
  • #1,917
  • Jan 22, 2023 11:33am Jan 22, 2023 11:33am
mansan,
as long as a red resistance box is being painted, I sit on my hands.
cpfleger
  • #1,918
  • Jan 22, 2023 11:34am Jan 22, 2023 11:34am
Gents,
Attached Image (click to enlarge)
Click to Enlarge Name: KoF.jpg Size: 279 KB
  • #1,919
  • Jan 22, 2023 11:36am Jan 22, 2023 11:36am
Gents,
as KoF would say, close to MAs, stay away.
cpfleger
  • #1,920
  • Jan 22, 2023 11:39am Jan 22, 2023 11:39am
Gents,
as KoF would say, we cannot control the Market... it can become boring to some.
cpfleger
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