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M1 Countertrend Scalping Strategy

  • #9,301
  • Aug 22, 2023 3:29am Aug 22, 2023 3:29am
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I haven't come this far to only come this far !
  • #9,302
  • Aug 22, 2023 5:29am Aug 22, 2023 5:29am
M1 AUD countertrend scalps - anticipating a lower high, targeting a break of ema200!
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every minute matters!
  • #9,303
  • Aug 22, 2023 5:45am Aug 22, 2023 5:45am
M1 AUD countertrend scalps - a lower high typically follows up with a lower low!
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every minute matters!
  • #9,304
  • Aug 22, 2023 6:32am Aug 22, 2023 6:32am
Home a little earlier than normal today, so thought I would have a scan at the charts.

A nice little rejection off this level and then forming a red single wick HA candle and cross of RSI.

Enter trade.
Price moved slightly in my favour before making a little re-trace but with indecisive double wick Candles.
So not too worried nice single wick HA candle forms again and so add to already profitable trade and target its for a nice non stress trade.
Time for the dog walking again.
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Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #9,305
  • Aug 22, 2023 7:10am Aug 22, 2023 7:10am
Quoting niks
M1 AUD countertrend scalps - a lower high typically follows up with a lower low! {image}
Dude you're crushing it. All these hours of screen time is truly building intuition. Do you have an ultimate stop (besides a margin call of course)?
Leave the Gun, Take the Armani
  • #9,306
  • Aug 22, 2023 7:27am Aug 22, 2023 7:27am
Back from the dog walking. Staying with USDCAD
Enter on the rejection of the sup box almost as always goes for another try to pick up orders.
I was fairly confidant this level would hold because of the two other sup boxes tightly behind it.
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Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #9,307
  • Aug 22, 2023 7:55pm Aug 22, 2023 7:55pm
Quoting sonicvista12
{quote} Great explanation of the price narrative, thanks niks. It all makes perfect sense when I follow your thought processes behind the entries on your charts. I reckon niks & Amiraven are 'Il Maestro' & 'Il Virtuoso' of the KOF Trend & Countertrend strategies. They read price action like a book. I learn heaps from you guys, huge thanks.
Quoting Amiraven
{quote} This is the best possible explanation ! you sound like KoF, even better . Thank you for sharing this with us.
it's always a pleasure sonicvista and amiraven, the M1 charts move very fast so capturing the thought process AS the trade is playing out is important because it is very easily forgotten once the next trade comes along...

i did it for a period of time in another thread and along with the sim exercises, it is the second most important tool for improving my trading... thank you both for your kind words and support and wish you all the best of success!
every minute matters!
  • #9,308
  • Aug 22, 2023 8:08pm Aug 22, 2023 8:08pm
Quoting cliffjaded
{quote} Dude you're crushing it. All these hours of screen time is truly building intuition. Do you have an ultimate stop (besides a margin call of course)?
cheers cliff, many, many hours of screen time for sure, but less as time goes by, and yes, the payoff is intuition getting stronger by the day!

with 1:30 leverage, and after experiencing a margin call stop out for the first time recently, i have improved my money management to mitigate the risk of another margin call - however, if all else fails, a margin call stop out with my leverage is survivable and is currently my ultimate stop within my money management plan
every minute matters!
  • #9,309
  • Aug 22, 2023 8:37pm Aug 22, 2023 8:37pm
Quoting niks
M1 AUD countertrend scalps - a lower high typically follows up with a lower low! {image}
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 have no clue where it's going
  • #9,310
  • Aug 22, 2023 8:52pm Aug 22, 2023 8:52pm
Quoting LifeRider
{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.
interestingly, i have only read one trading book and it was about a complete price action strategy, the strategy didn't work for me, but the price action and business lessons i learnt from it were invaluable...

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...
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every minute matters!
  • #9,311
  • Aug 23, 2023 12:14am Aug 23, 2023 12:14am
M1 AUD countertrend scalps - targeting the range...
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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 1:16am Aug 23, 2023 1:16am
M1 AUD countertrend scalps - playing it safe!
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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!
  • #9,313
  • Aug 23, 2023 1:33am Aug 23, 2023 1:33am
Quoting niks
M1 AUD countertrend scalps - targeting the range... {image} 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...
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
  • #9,314
  • Edited 3:30am Aug 23, 2023 3:15am | Edited 3:30am
M1 AUD countertrend scalps - entering on resistance, exiting on support!
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Quoting yczzd
{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
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...
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every minute matters!
  • #9,315
  • Aug 23, 2023 3:56am Aug 23, 2023 3:56am
[quote=niks;14546678]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
We don't see things as they are - we see things as we are.
  • #9,316
  • Aug 23, 2023 4:49am Aug 23, 2023 4:49am
Quoting sonicvista12
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
thanks sonicvista, we need a trend to countertrend!

M1 GBP countertrend scalps - ema9 overextension entry, exit at resistance!
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every minute matters!
  • #9,317
  • Edited 6:24am Aug 23, 2023 6:13am | Edited 6:24am
M1 GBP countertrend scalps - against the flow!
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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!


Quoting LifeRider
{quote} Do you use a broker with zero spread?
ic markets RAW spread account
every minute matters!
  • #9,318
  • Aug 23, 2023 6:21am Aug 23, 2023 6:21am
Quoting niks
M1 GBP countertrend scalps - against the flow! {image}
Do you use a broker with zero spread?
I have no clue where it's going
  • #9,319
  • Aug 23, 2023 7:25am Aug 23, 2023 7:25am
Trend - mini trend - counter trend is just a term

we should be able to use all 3 of them

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Quoting Darwati
Trend - mini trend - counter trend is just a term we should be able to use all 3 of them {image}
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  • #9,320
  • Aug 23, 2023 7:47am Aug 23, 2023 7:47am
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

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