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M1 Countertrend Scalping Strategy

  • #6,541
  • Jun 19, 2023 6:41pm Jun 19, 2023 6:41pm
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  • #6,542
  • Jun 19, 2023 6:46pm Jun 19, 2023 6:46pm
VERY important, read carefully.
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  • #6,543
  • Jun 19, 2023 6:52pm Jun 19, 2023 6:52pm
The Market can change anytime especially on lower TF's, so be aware and on the average, after a decent trend the Market tends to go into a Range to allow the Banks time to perform their risk analysis and determine the future direction.
  • #6,544
  • Jun 19, 2023 6:56pm Jun 19, 2023 6:56pm
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  • #6,545
  • Jun 19, 2023 6:56pm Jun 19, 2023 6:56pm
1st Target hit....
  • #6,546
  • Jun 19, 2023 6:57pm Jun 19, 2023 6:57pm
As instructed...

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  • #6,547
  • Jun 19, 2023 6:58pm Jun 19, 2023 6:58pm
2nd and 3rd hit.
Live teaching people.
Learn and earn.
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  • #6,548
  • Jun 19, 2023 6:59pm Jun 19, 2023 6:59pm
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my trade
without patience how can you be a trader?
  • #6,549
  • Jun 19, 2023 7:00pm Jun 19, 2023 7:00pm
In Summary
1 Wicked HA Candles are the entry point.
Possible small Drawdown.
SL defined (protect the account Balance).
TP's defined (1 to 3).
2 Colors, 2 directions, 2 wicks, 2 decisions (open and close)
cpfleger
  • #6,550
  • Jun 19, 2023 7:02pm Jun 19, 2023 7:02pm
Steverino832,
Move upwards to 5M TF and go slower and fine tune that performance.
cpfleger
  • #6,551
  • Jun 19, 2023 7:06pm Jun 19, 2023 7:06pm
Quoting cpfleger
2nd and 3rd hit. Live teaching people. Learn and earn. {image}
Are the 2nd & 3rd Trade from the initial enter point or 1 pip and 2 pips below with 1 pip tp?
  • #6,552
  • Jun 19, 2023 7:09pm Jun 19, 2023 7:09pm
Ronin,
Based on previous Candle WICKS, the Market talks through the wicks.
cpfleger
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  • #6,553
  • Jun 19, 2023 7:11pm Jun 19, 2023 7:11pm
The indicators will repaint purposely because of the Market inputs / data, you must remember at all times the Forex Market is NOT centralized and is an actual AUCTION HOUSE of buying and selling financial Instruments, so it will bounce alot, less than 30% trending unlike Stocks or other Markets. The biggest Market but the worse trending one...
cpfleger
  • #6,554
  • Jun 19, 2023 7:13pm Jun 19, 2023 7:13pm
Quoting cpfleger
Ronin, Based on previous Candle WICKS, the Market talks through the wicks. cpfleger {image}
I see. Before the one wicked candle the market was choppy / ranging as lots of double wicks within a range.
  • #6,555
  • Jun 19, 2023 7:17pm Jun 19, 2023 7:17pm
Ronin,
True and ART of forex trading is knowing how the Market talks. Double Wicks are the ENEMIES, and 1 Wick Candles are my (Our) Friends.
We use them with gratitude.
cpfleger
  • #6,556
  • Jun 19, 2023 7:21pm Jun 19, 2023 7:21pm
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  • #6,557
  • Jun 19, 2023 7:22pm Jun 19, 2023 7:22pm
cpfleger, thank you for today I had fun it was a blast!
without patience how can you be a trader?
  • #6,558
  • Jun 19, 2023 7:23pm Jun 19, 2023 7:23pm
Quoting cpfleger
{image}
i missed it
without patience how can you be a trader?
  • #6,559
  • Jun 19, 2023 7:26pm Jun 19, 2023 7:26pm
Anytime as I pay forward...
cpfleger
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  • #6,560
  • Jun 19, 2023 7:33pm Jun 19, 2023 7:33pm
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