javipenjamo.
Thanks and I will test today.
cpfleger
Thanks and I will test today.
cpfleger
2
M1 Countertrend Scalping Strategy
H4 
M15 
M1
EURUSD currently. Didn't take trades earlier as I was out. Btw, dotted boxes are FVGs and solid line boxes are OBs. London High just got breached. Let's see if there's a reversal.
Also, I forgot to recommend this indicator. It's a news indicator.
News Feed Indicator by FXSSI
Remember to adjust the hour shift to ensure the news events are displayed at the correct times. Can set alerts as well. I set mine at 30mins before so that I can either close my positions, put a protective hedge, or not open any positions.
M15
M1
EURUSD currently. Didn't take trades earlier as I was out. Btw, dotted boxes are FVGs and solid line boxes are OBs. London High just got breached. Let's see if there's a reversal.
Also, I forgot to recommend this indicator. It's a news indicator.
News Feed Indicator by FXSSI
Remember to adjust the hour shift to ensure the news events are displayed at the correct times. Can set alerts as well. I set mine at 30mins before so that I can either close my positions, put a protective hedge, or not open any positions.
Leave the Gun, Take the Armani
Let price ran a bit past the 200EMA today. Might wanna take a page out of @cliffjaded 's book and study his target zones{image}
You can refine a HTF FVG or OB in a LTF but you risk the possibility of it being missed.
Also, EURUSD PDH just got raided.
Leave the Gun, Take the Armani
- #6,192
- Jun 7, 2023 7:17am Jun 7, 2023 7:17am
- Joined Mar 2023 | Status: Trader | 1,007 Posts
without patience how can you be a trader?
- #6,194
- Jun 7, 2023 7:26am Jun 7, 2023 7:26am
- Joined Mar 2023 | Status: Trader | 1,007 Posts
without patience how can you be a trader?
I would have exited earlier at H1 OB or M15 FVG lol. You made a smarter choice and held a bit longer. One thing i do sometimes is, when price hits my target zone, i start to trail very tightly behind a 8ema on M1 to squeeze a bit more profit. I use my ModifySL script for this.
Regarding your use of the 8EMA for trailing SL, might want to test that tomorrow. Do you think it can be coded into an EA to automatically exit all trades once bid price touches the 8EMA?
- #6,198
- Edited 3:01pm Jun 7, 2023 9:12am | Edited 3:01pm
- Joined Mar 2018 | Status: Trader | 224 Posts
{quote} I was thinking maybe the counter-trend thrust might reach the M15 FVG @ 0.66824, but decided to chicken out and secure profits once price started stalling, since my initial target was set at the 200EMA. Although price did eventually touch that zone, but unfortunately I wasn't around to place any new orders. {image} {image} Regarding your use of the 8EMA for trailing SL, might want to test that tomorrow. Do you think it can be coded into an EA to automatically exit all trades once bid price touches the 8EMA?
W1
D1
If you drew the W1 Liquidity level from 3 weeks ago, you might have recognised it as a huge BSL (Buyside Liquidity) and hence held the trade further. Furthermore, it was also D1 REH (Relatively Equal Highs) aka EQH (Equal Highs). On smaller timeframes, they appear as Double Tops, Triple Tops, Areas of Congestion/Consolidation, Ranges, etc. A lot of stops rest at these areas on bigger timeframes. Plus it was a D1 Pinbar against a D1 20ema. You know how people love their pinbars.
Regarding the 8ema trailing stop EA, i believe the MQL5 website has free EAs that allows you to trail your orders to a moving average. I used to use one but the problem was that when price retraced, the ema would flatten out and my stop would actually go backward. It's a programming error. The EA should check if the MA has moved beyond the stop and only move it if it does.
I could knock one out when I'm free if you really want.
Edit: Nevermind, I found a good one Moving Average Trailing Stop MT4 on EarnForex. Creators of the Position Size Calculator.
Leave the Gun, Take the Armani
