M1 Countertrend Scalping Strategy

Quoting niks

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M1 GBP scalps - trend, countertrend, trend! {image} initial entry short anticipating downtrend after ema20 rejection, cost averaged up 2 more orders as price continued lower but then stalled, made a return to ema50 and cost averaged down another order on ema50 rejection, cost averaged up two more orders as price approached support and ema50 crossed then started to protect my initial order! once support started breaking, continued adding more orders, but it didn't really break and actually looked like holding, especially after the return to ema50,...

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Quoting Spank1969

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The sacred filter , green yes, red no. {image}

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Quoting polindo

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{quote} Sorry, I don't understand because you show the indicator but on the picture you delete the name.... My opinion is that it means you are not helpfull to this group.

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Quoting Spank1969

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The sacred filter , green yes, red no. {image}

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Quoting Abade

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{quote} Nice combination @Spank1969. I notice you are using the oscillator "zero-cross" to filter bad signals that are triggered by the Renko + Heiken Ashi. I can tell it's doing a good job as there would only be 1 losing trade out of 16 in that chart if we follow these simple rules (and spread allows it). I can't really tell what the other objects mean, nor the brick size, but I am interested in knowing more. Feel free to share trading examples and reports. Don't need to reveal/share everything but keep in mind that most traders may not trust you...

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Quoting Seabreeze

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{quote} Thankyou for taking the time to explaine your entries and exits niks, made an interesting read. Great to see your thought process and reactions to price movement. Nice trading

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Quoting Steverino832

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{quote} you are killing it well done!

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Quoting niks

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M1 AUD countertrend scalps - price action, its free! {image} after price smashes through ema200, it overextends ema9 and provides a good short opportunity for a return and subsequent break of ema200 down to next support levels where the targets are set cost averaged down two more orders as price moves up to resistance levels which breaks, so cautiously add one more order in case of fake breakout considering a reverse if that fails, price quickly returns to ema200 then stalls, holding firm on targets while watching reaction at ema200 the reaction...

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Quoting niks

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M1 AUD countertrend scalps - tricky market! {image} short off resistance and ema9 overextension targeting ema50, added second order to catch false breakout, plan to add a third if breakout holds and next resistance level is reached, which it did, so two more orders were added, targets remained firm at what is now in between ema50 and ema200 well above recent support levels, will reverse on the first pullback if this resistance level breaks and holds because the next resistance level is very far away it threatened to break and run for a tough uptrend...

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