M1 BTC countertrend scalps - couldn't resist the shorts off resistance targeting minor support for quick profits as the range continued! {image}
people leave, but this thread will go on for ever
M1 Countertrend Scalping Strategy
- #9,621
- Sep 17, 2023 7:21pm Sep 17, 2023 7:21pm
- Joined Sep 2013 | Status: Trader | 25,161 Posts
- #9,622
- Sep 17, 2023 9:36pm Sep 17, 2023 9:36pm
- Joined Dec 2022 | Status: Trader | 3,268 Posts
{quote} Again well done Niks , a real weekend warrior
every minute matters!
- #9,623
- Sep 18, 2023 1:11am Sep 18, 2023 1:11am
- Joined Dec 2022 | Status: Trader | 3,268 Posts
M1 EUR trend scalps - attempt at KoF 1%
riding the trend - the first session of the week typically provides nice trends to ride, so thought i'd give it a go!
entered long anticipating uptrend as midline becomes support and break above ema200 holds - resistance was encountered and price dropped below ema200 so cautiously entered two more orders at support levels
price bounced around in a range for a bit until it finally broke higher where a second set of orders were entered
they also encountered resistance but only down to a higher support level so added one more order - all i could see
now were two prime resistance levels waiting to be broken!
the first resistance area broke and almost reached targets then stalled for a bit, so a final order was entered - then a
pullback ran deep breaking the lower keltner channel, but as with the previous break where the second last order was entered, i anticipated a bounce back to the upper channel for a third push higher but there was also caution as this is now a complex pullback within a downtrend which may continue the downtrend...
after struggling to break the midline resistance one last time, price makes a third push higher taking out the major
resistance and then finally moves onto targets!!!
should of kept riding it!
riding the trend - the first session of the week typically provides nice trends to ride, so thought i'd give it a go!
entered long anticipating uptrend as midline becomes support and break above ema200 holds - resistance was encountered and price dropped below ema200 so cautiously entered two more orders at support levels
price bounced around in a range for a bit until it finally broke higher where a second set of orders were entered
they also encountered resistance but only down to a higher support level so added one more order - all i could see
now were two prime resistance levels waiting to be broken!
the first resistance area broke and almost reached targets then stalled for a bit, so a final order was entered - then a
pullback ran deep breaking the lower keltner channel, but as with the previous break where the second last order was entered, i anticipated a bounce back to the upper channel for a third push higher but there was also caution as this is now a complex pullback within a downtrend which may continue the downtrend...
after struggling to break the midline resistance one last time, price makes a third push higher taking out the major
resistance and then finally moves onto targets!!!
should of kept riding it!
every minute matters!
- #9,625
- Sep 18, 2023 4:46am Sep 18, 2023 4:46am
- Joined Dec 2022 | Status: Trader | 3,268 Posts
every minute matters!
- #9,626
- Sep 18, 2023 4:51am Sep 18, 2023 4:51am
- Joined Dec 2022 | Status: Trader | 3,268 Posts
M1 GBP countertrend scalps - now that was a trend i should of followed!
every minute matters!
- #9,630
- Sep 18, 2023 9:10am Sep 18, 2023 9:10am
- Joined Dec 2022 | Status: Trader | 3,268 Posts
M1 EUR countertrend scalps - an alternative view using a keltner channel...
once price touches the upper channel into an area of price action resistance, its a good time to sell, i entered very late but the trade was still wholesale, so started entering short on the break of the midline resistance back up to price action
resistance which held and pushed price back down to lower channel where targets were set!
once price touches the upper channel into an area of price action resistance, its a good time to sell, i entered very late but the trade was still wholesale, so started entering short on the break of the midline resistance back up to price action
resistance which held and pushed price back down to lower channel where targets were set!
every minute matters!
- #9,631
- Sep 18, 2023 11:05am Sep 18, 2023 11:05am
- Joined Dec 2022 | Status: Trader | 3,268 Posts
M1 GBP countertrend scalps - fool me once, shame on you!
every minute matters!
M1 EUR countertrend scalps - an alternative view using a keltner channel... once price touches the upper channel into an area of price action resistance, its a good time to sell, i entered very late but the trade was still wholesale, so started entering short on the break of the midline resistance back up to price action resistance which held and pushed price back down to lower channel where targets were set! {image} {image} {image}
thanks again
We don't see things as they are - we see things as we are.
- #9,634
- Sep 18, 2023 8:37pm Sep 18, 2023 8:37pm
however. the most important rule is to feel the emotion, not just see price - if you subscribe to the market price being controlled by forces other than traders making trading decisions, then this rule will not work for you...
That's why I watch both at the same time.
AUDJPY TPs from last week got hit around 11-12 hours ago. Just now checked. 108.6 pips:
LOL I'm a $0.28 away from the next compounding level of trading 0.013 lots. Close enough.
- #9,635
- Edited 9:12pm Sep 18, 2023 9:02pm | Edited 9:12pm
- Joined Dec 2022 | Status: Trader | 3,268 Posts
{quote} hi niks thanks for sharing the keltner channel charts, they print very similar to the Bollinger Bands 2.0 standard deviations, except I notice the keltner outer channels react slightly differently, but the concept is basically the same, illustrating price deviation from and subsequent return to the mean. Certainly having fewer moving averages on the charts means we can see price action more clearly, without wiggly lines getting in the way
That's why I watch both at the same time. AUDJPY TPs from last week got hit around 11-12 hours ago. Just now checked. 108.6 pips: {image} LOL I'm a $0.28 away from the next compounding level of trading 0.013 lots. Close enough.
{image}
every minute matters!
- #9,636
- Sep 19, 2023 12:58am Sep 19, 2023 12:58am
- Joined Dec 2022 | Status: Trader | 3,268 Posts
M1 GBP countertrend scalps - boosted with positive slippage!
every minute matters!
- #9,637
- Sep 19, 2023 2:04am Sep 19, 2023 2:04am
- Joined Dec 2022 | Status: Trader | 3,268 Posts
M1 GBP countertrend scalps - should of double dipped a bit deeper!
every minute matters!
- #9,639
- Sep 19, 2023 3:07am Sep 19, 2023 3:07am
- Joined Dec 2022 | Status: Trader | 3,268 Posts
every minute matters!
