M1 Countertrend Scalping Strategy

Quoting cliffjaded

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{quote} Yup, it's based on Price Action. As I mentioned before, I use ICT as an alternative form of Technical Analysis. However, I do not consider it "Smart Money" or "Trading like the Banks". You can try and see if this works for MT5. It's ridiculously difficult to find a free trailing stop EA for MT5, surprisingly. https://www.mql5.com/en/code/29797

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Quoting BlackCap

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{quote} I see. How do you determine which FVG is valuable and which aren't? I have a hard time choosing the ones that work especially on the LTF lul Ahh, came in to FF right after my trade has closed. Downloaded it, giving a try soon And yep, hi across the causeway hehe. I'm still a couple hundred kilos away from JB tho

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Quoting cliffjaded

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You can try and see if this works for MT5. It's ridiculously difficult to find a free trailing stop EA for MT5, surprisingly. https://www.mql5.com/en/code/29797

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Quoting cliffjaded

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{quote} I don't actually choose the FVG. I draw what I think are significant ones. Then I drill down to M1 and look for a reaction and enter. Sometimes, if I'm lazy, i'll just set a limit, especially if i'm away. I mean, we are averaging in after all. I think you have a fast 9ema on your chart. You can consider entering after price tapes into an FVG and displaces through the 9ema. If price breaks some microstructure and leaves a M1 FVG, you can on that retrace as well, or add on to a position. Multiple ways. You still need luck and for news not...

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Quoting BlackCap

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{quote} Thanks hehe, it works well {image}

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Quoting cliffjaded

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MARKUPS - 8 Jan 23 EURUSD{image} AUDUSD{image}

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Quoting BlackCap

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{quote} Thanks for sharing. OB stands for orderblock?

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Quoting BlackCap

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{quote} I see. How do you determine which FVG is valuable and which aren't? I have a hard time choosing the ones that work especially on the LTF lul Ahh, came in to FF right after my trade has closed. Downloaded it, giving a try soon And yep, hi across the causeway hehe. I'm still a couple hundred kilos away from JB tho

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Quoting cliffjaded

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{quote} Yeap. If the FVG and OB and on top of each other, i'll mark them with lines instead of boxes to avoid clutter. Otherwise, I'll use dotted boxes for FVGs and solid ones for OBs. If there's a FVG directly stacked on top of a OB, i will usually look to take an entry from the OB instead. Price will either fill through the FVG and tap into the OB or make a small reaction (sometimes big one) off the FVG and return back to the OB. If they're close together, I'll just use the OB instead.

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Quoting cliffjaded

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{quote} My entry on M1. Price taps into a H1 FVG, displaces below, leaves M1 FVG. I enter on a limit on the M1 FVG. Another way to enter using M1 FVG is to when price is trending quick and hard. Big long candles. Draw your FVGs and enter off them.{image} The proper SMC technique is to enter off a FVG at premium/discount or OTE. Fancy terms, right? It's retarded actually. Optimal Trade Entry (OTE) = 61.8% Fib Premium = Above 50% Fib in a downtrend Discount = Below 50% Fib in an uptrend You want to enter off FVGs and OBs in a Premium or Discount....

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Quoting Shanto12

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Patience is the key. Got fruit from EURUSD, holding from yesterday. Total $24. {image}

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Quoting BlackCap

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{quote} What happens then if price decides to not return to the M1 FVG? Used to join another SMC membership class thingy, but instead of using the FVG as the POI, we were taught to use the imbalance zones which typically rest above the FVG, and it would be common to see prices blast past those POI's when refined in the M1.

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Quoting Shanto12

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Patience is the key. Got fruit from EURUSD, holding from yesterday. Total $24. {image}

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