fillur,
Your welcomed and tell Abade that we make real money daily here...
The Holy Grail is the Trader.
cpfleger
Your welcomed and tell Abade that we make real money daily here...
The Holy Grail is the Trader.
cpfleger
4
M1 Countertrend Scalping Strategy
{quote} Thank you Sir. You use MT5? Do you have a MT4 version?
I don't have a MT4 version but finding one shouldn't be a problem. Maybe check one of these:
https://www.forexfactory.com/thread/...file-indicator
who are use Elliott wave counting to scalping m1? original strategy of KOF
I think that's why so few traders use it.
Cpfleger. You are a true trading-artist, nothing less. To watch this trade from start to end is just amazing and it really shows the power of this strategy. I am so happy to have found this forum, its the best of the best. Thanks to cpfleger, abade, xinitial, Steverino832 and many more. I hope one day to be as good as you guys .
- #8,609
- Edited 8:46pm Jul 26, 2023 8:17pm | Edited 8:46pm
{image}
Testing a nice pivots indicator (Camarilla), noticed that it was near "R4" resistance.
My theory is that price will keep trying to break R4 and crawl to the congestion zone above. If I'm wrong price will drop back to the latest congestion zone below or at least R3 and converge with the 200 EMA.
Update: Second attempt to break R4 failed, so we make a few extra pips:
Update: Another small scalp as I felt price may stretch down to touch the 200 EMA, I exited quickly as there was a very good volume spike:
- #8,611
- Edited 10:23pm Jul 26, 2023 9:04pm | Edited 10:23pm
Attempting Elliott Wave Analysis:
Wave 1, 3 and 5 are impulsive and 2, 4 are retracements. So we are currently in a 3 step correction, which is also near a congestion zone (in blue).
Update: Third attempt to break R4 fails and we got a small scalp:
Trying to analyze next move, based on my basic understanding of Elliot Wave Theory:
Update: A fourth rejection and more profits (exited at support):
Wave 1, 3 and 5 are impulsive and 2, 4 are retracements. So we are currently in a 3 step correction, which is also near a congestion zone (in blue).
Update: Third attempt to break R4 fails and we got a small scalp:
Trying to analyze next move, based on my basic understanding of Elliot Wave Theory:
Update: A fourth rejection and more profits (exited at support):
- #8,612
- Jul 26, 2023 10:13pm Jul 26, 2023 10:13pm
Here's what I have going today. Trade time allotted is up. TPs are set 3 pips under initial entry on AUDUSD:
I went through old trades, as one should do, and notice I jump the gun. Especial for the session I'm trading. I also really need to remember that I know it is all based on the 200. So, unless I feel like trending, I should be waiting for everything to fan away from the 200. Not get in crossing or trying to catch a 200 bounce. Although, averaging does make it easy to choose the exit of 3 pips past initial entry. I choose this just to eat the spread when it does swing around. Emphasis on swing.
I can either accept that this is just how I end up being profitable and see the market. Or I stick to some hard no-matter-what rules for execution/more confirmations for my entries and practice until I've achieved that before I go live with real money. These long trades aren't stressful anymore. They just take so damn long and makes me less motivated. Although it is nice when they finally hit TP.
Anyway, EURUSD trades from the 11th are still in play:
That's it for today. Night everyone.
I went through old trades, as one should do, and notice I jump the gun. Especial for the session I'm trading. I also really need to remember that I know it is all based on the 200. So, unless I feel like trending, I should be waiting for everything to fan away from the 200. Not get in crossing or trying to catch a 200 bounce. Although, averaging does make it easy to choose the exit of 3 pips past initial entry. I choose this just to eat the spread when it does swing around. Emphasis on swing.
I can either accept that this is just how I end up being profitable and see the market. Or I stick to some hard no-matter-what rules for execution/more confirmations for my entries and practice until I've achieved that before I go live with real money. These long trades aren't stressful anymore. They just take so damn long and makes me less motivated. Although it is nice when they finally hit TP.
Anyway, EURUSD trades from the 11th are still in play:
That's it for today. Night everyone.
- #8,613
- Edited 12:59am Jul 27, 2023 12:36am | Edited 12:59am
Got caught in R4's breakout:
Exited positions at 200 EMA touch which is also a very important R4 support confluence, most positions are in profit.
In retrospective I should have accepted my mistake and exited with a small loss when the ascending triangle started to take form (marked in light blue):
Useful to remember: Wave 3 is always bigger than wave 1 and 5 according to Elliot Wave Theory.
Session's report:
Exited positions at 200 EMA touch which is also a very important R4 support confluence, most positions are in profit.
In retrospective I should have accepted my mistake and exited with a small loss when the ascending triangle started to take form (marked in light blue):
Useful to remember: Wave 3 is always bigger than wave 1 and 5 according to Elliot Wave Theory.
Session's report:
