M1 Countertrend Scalping Strategy

Quoting cpfleger

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Danielesse87, I refer to candle color changes and if you look at your last screen-printed Chart you will see roughly around 4 minor pullbacks before the actual resistance Box. These minor pullbacks are what messes up other traders as they think it is going for a major reversal and its not - fake out, and leads to big DD, I do not like. So if a Trader makes an early entry using a small lot size, his DD will be acceptable until the Box paints and then he will add a position whilst in profit and make up for the stress and strain to his facial wrinkles,...

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Quoting ART2498

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Day -7 (Week 2- Day 2) Account BLOWN Was caught in a trend with cost averaging and down about 25-30% account size in gold when a sudden spike came and I had a 45 Pip 1 minute candle, and upto 60 pips in a few more candles. The sudden move brought me to the edge of a margin call and the move didnt seem to be slowing down either so I closed everything down. Gonna start round 2 tommorow. maybe I'll try a $200 account this time arround.

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Quoting cpfleger

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Danielesse87, All the numbers and X's are minor pullbacks, you could use the multi colored MA Line also but they are all just doing small reversals only. When you get a new resistance Box its stating a strong reversal but nothing is guaranteed because the Market can do whatever it wants due to the fact its based on emotional humans.. Always look at all the painted Boxes as you have one on the very top of your last Chart which is where the Market is probably going towards before it actually bounces back downwards. cpfleger

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Quoting cpfleger

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fxdragon, Ohhh your a young man, I am old and almost blind and I love trading. cpfleger

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Quoting fxdragon

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thank you cpfleger for introduce this simplify system. suitable for my age 50's. thanks you {image}

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