I haven't come this far to only come this far !
M1 Countertrend Scalping Strategy
- #9,302
- Aug 22, 2023 7:29am Aug 22, 2023 7:29am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
M1 AUD countertrend scalps - anticipating a lower high, targeting a break of ema200!
every minute matters!
- #9,303
- Aug 22, 2023 7:45am Aug 22, 2023 7:45am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
M1 AUD countertrend scalps - a lower high typically follows up with a lower low!
every minute matters!
- #9,307
- Aug 22, 2023 9:55pm Aug 22, 2023 9:55pm
- Joined Dec 2022 | Status: Trader | 3,228 Posts
every minute matters!
- #9,308
- Aug 22, 2023 10:08pm Aug 22, 2023 10:08pm
- Joined Dec 2022 | Status: Trader | 3,228 Posts
every minute matters!
- #9,310
- Aug 22, 2023 10:52pm Aug 22, 2023 10:52pm
- Joined Dec 2022 | Status: Trader | 3,228 Posts
{quote} Many books advocate taking only these trend trades. Do you take these often, and do you see any change in success rate? Thank you.
i do not trade the trend often, as i have been so focused on counter trend, i've had a hard time getting into trend trades and am solely focused on developing them at the moment...
in terms of change in success rate, not sure exactly what you mean - if trading the trend in general, then success may not necessarily be higher than counter trend, however, profits may be significantly greater...
the success rate of this particular setup for trading a trend is second to none - this moved down 40+ pips before reaching ema200 again - all the signs of a strong downtrend according to KoF are in this snapshot! best of luck to you...
every minute matters!
- #9,311
- Aug 23, 2023 2:14am Aug 23, 2023 2:14am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
M1 AUD countertrend scalps - targeting the range...
as the downtrend stalls and enters sideways, short off a recent resistance level and double top targeting previous support levels
price was undecided until it broke higher up to a less recent resistance level where the second short was taken, given the recent downtrend there was no intention of reversing
the resistance level held after one final push up and broke through ema200 into targets! not long after the downtrend continued...
as the downtrend stalls and enters sideways, short off a recent resistance level and double top targeting previous support levels
price was undecided until it broke higher up to a less recent resistance level where the second short was taken, given the recent downtrend there was no intention of reversing
the resistance level held after one final push up and broke through ema200 into targets! not long after the downtrend continued...
every minute matters!
- #9,312
- Aug 23, 2023 3:16am Aug 23, 2023 3:16am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
M1 AUD countertrend scalps - playing it safe!
entered long on support levels after strong push down was preceded by a higher high, the push down was stronger than expected so one final order was placed on the break of support and then waited for reaction,
a new support level developed and price started a return to ema200
price then breaks through and holds above the resistance of the ema's turning them into support pushing price
right back up into ema200 and breaking its resistance and then into my targets!
entered long on support levels after strong push down was preceded by a higher high, the push down was stronger than expected so one final order was placed on the break of support and then waited for reaction,
a new support level developed and price started a return to ema200
price then breaks through and holds above the resistance of the ema's turning them into support pushing price
right back up into ema200 and breaking its resistance and then into my targets!
every minute matters!
- #9,314
- Edited 5:30am Aug 23, 2023 5:15am | Edited 5:30am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
M1 AUD countertrend scalps - entering on resistance, exiting on support!
i am not even close to being a master yczzd, but i appreciate your sentiment and kind words...
identifying support and resistance is just a matter of seeing where price changes direction and it's a LOT easier to see if you zoom out your chart as much as possible - my screenshot does contain two indicators - a set of EMA's on the main chart and a tick volume histogram with an EMA overlay in the sub window - they are the only indicators i use secondary to price action...
{quote} Dear Master niks, your skills are so impressive. You are my idol. I would like to ask a question, how do you identify support and resistance levels, and use any indicators? I didn't find it in your screenshot. Thank you very much. Your fans
identifying support and resistance is just a matter of seeing where price changes direction and it's a LOT easier to see if you zoom out your chart as much as possible - my screenshot does contain two indicators - a set of EMA's on the main chart and a tick volume histogram with an EMA overlay in the sub window - they are the only indicators i use secondary to price action...
every minute matters!
- #9,316
- Aug 23, 2023 6:49am Aug 23, 2023 6:49am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
M1 AUD countertrend scalps - entering on resistance, exiting on support! {image} niks AU is very much on a downtrend, so you were definitely trading with institutional orderflow i.e. with the 'trend', or with the strength of the move.... great stuff
M1 GBP countertrend scalps - ema9 overextension entry, exit at resistance!
every minute matters!
- #9,317
- Edited 8:24am Aug 23, 2023 8:13am | Edited 8:24am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
M1 GBP countertrend scalps - against the flow!
entered four orders long on support and after ema9 overextension as in previous trade, support failed to hold so entered two more orders in case of false breakout, which it turned out to be as price began to trend up
the seventh order was taken expecting the ema's to act as support, which failed so made a final order on another ema9 overextension
closed the last two orders after a higher high formed, and then as a higher low formed, closed out the rest at resistance!
ic markets RAW spread account
entered four orders long on support and after ema9 overextension as in previous trade, support failed to hold so entered two more orders in case of false breakout, which it turned out to be as price began to trend up
the seventh order was taken expecting the ema's to act as support, which failed so made a final order on another ema9 overextension
closed the last two orders after a higher high formed, and then as a higher low formed, closed out the rest at resistance!
{quote} Do you use a broker with zero spread?
every minute matters!
- #9,319
- Aug 23, 2023 9:25am Aug 23, 2023 9:25am
- Joined Oct 2022 | Status: frog in shell totally active | 1,179 Posts
Trend - mini trend - counter trend is just a term
we should be able to use all 3 of them
we should be able to use all 3 of them
Trend - mini trend - counter trend is just a term we should be able to use all 3 of them {image}
- #9,320
- Aug 23, 2023 9:47am Aug 23, 2023 9:47am
- Joined Oct 2022 | Status: frog in shell totally active | 1,179 Posts
If you want to trade with open every minute, you must have a way to make TP and Sl the same for all orders
just search the Forums
just search the Forums