Thank you.
M1 Countertrend Scalping Strategy
- #9,902
- Oct 16, 2023 10:32pm Oct 16, 2023 10:32pm
- Joined Dec 2022 | Status: Trader | 3,283 Posts
M XAU countertrend scalps - more keltner channel guidance!
see here for MT5 version of keltner channel, there is an MT4 version as well...
https://www.forexfactory.com/thread/...post14579140MT
there are no best settings, use whatever suits your needs and wraps price best
it is hard using discretion and intuition for trading decisions and some may prefer to be guided instead...
an entire M1 keltner channel countertrend scalping system is not hard to build for those inclined to follow rules and are unable to fully grasp the KoF way of trading to provide a crutch on which to build the foundation to trade KoF style!
i will note i find it most useful on high spread high volatile pairs like XAU and BTC, not FX pairs...
see here for MT5 version of keltner channel, there is an MT4 version as well...
https://www.forexfactory.com/thread/...post14579140MT
there are no best settings, use whatever suits your needs and wraps price best
it is hard using discretion and intuition for trading decisions and some may prefer to be guided instead...
an entire M1 keltner channel countertrend scalping system is not hard to build for those inclined to follow rules and are unable to fully grasp the KoF way of trading to provide a crutch on which to build the foundation to trade KoF style!
i will note i find it most useful on high spread high volatile pairs like XAU and BTC, not FX pairs...
every minute matters!
- #9,904
- Oct 16, 2023 11:48pm Oct 16, 2023 11:48pm
- Joined Dec 2022 | Status: Trader | 3,283 Posts
{quote} Thank you for your guidance
https://www.mql5.com/en/code/16740
and although there are no best settings, these are the settings i am using on the XAU snapshots, you may prefer something completely different...
the second channel has the same settings except for Range Multiplier which is set to 4.0
every minute matters!
- #9,906
- Oct 17, 2023 6:07am Oct 17, 2023 6:07am
- Joined Dec 2022 | Status: Trader | 3,283 Posts
M1 XAU countertrend scalps - using keltner channel overextensions for entries and exits, first attempt stopped out, smooth sailing after that!
every minute matters!
- #9,911
- Oct 17, 2023 6:36pm Oct 17, 2023 6:36pm
- Joined Dec 2022 | Status: Trader | 3,283 Posts
{quote} nice trading Niks! what caused that price slip that went in your favor?
probably the same reason this just happened!
{quote} Bands are nice. There are other ways to use bands such as bands on RSI as well. However, you really need to filter the signals and not just take every poke of the band willy nilly or you're going to have a bad time.
every minute matters!
- #9,912
- Oct 17, 2023 10:06pm Oct 17, 2023 10:06pm
- Joined Dec 2022 | Status: Trader | 3,283 Posts
M1 XAU trend scalps - following trend with keltner channel...
they are also useful for trend following - in the same way the ema's provide protection as they cross your orders, so to do keltner channels offering support\resistance to bounce off, the decision to follow a trend is based on the amount of time price spends in a particular channel relative to previous price action...
for me, it certainly is a reliable guide to work with and supplements KoF style of trading very well... they provide very clear directional bias and obvious entry and exit points with very little additional analysis required...
for me, it certainly is a reliable guide to work with and supplements KoF style of trading very well... they provide very clear directional bias and obvious entry and exit points with very little additional analysis required...
every minute matters!
- #9,913
- Oct 17, 2023 10:30pm Oct 17, 2023 10:30pm
- Joined Dec 2022 | Status: Trader | 3,283 Posts
M1 XAU countertrend trend scalps - followed immediately by a keltner channel overextension countertrend...
price reaches a price action resistance area and overextends and closes outside of keltner channel... 
and then reverses back down to midline where profits SHOULD of been taken...
but i took the riskier option and am waiting for a break of support and price to venture into lower channels...
price reaches a price action resistance area and overextends and closes outside of keltner channel...
but i took the riskier option and am waiting for a break of support and price to venture into lower channels...
every minute matters!
- #9,914
- Oct 17, 2023 10:33pm Oct 17, 2023 10:33pm
- Joined Dec 2022 | Status: Trader | 3,283 Posts
and there it is!
every minute matters!
- #9,916
- Oct 18, 2023 5:43am Oct 18, 2023 5:43am
- Joined Dec 2022 | Status: Trader | 3,283 Posts
M1 GBP countertrend scalps - KoF style!
if you make money using his strategy, then he is a trader, otherwise, he is just another advertiser!
if you make money using his strategy, then he is a trader, otherwise, he is just another advertiser!
every minute matters!
- #9,917
- Oct 19, 2023 12:12am Oct 19, 2023 12:12am
- Joined Dec 2022 | Status: Trader | 3,283 Posts
M1 XAU countertrend scalps - earlier today...
entered long on keltner channel overextension and price action support area, targeting midline, there were two prior opportunities clearly visible on the left, the first long after a sharp drop, and the second short into resistance just before my entries, i wasn't around to take them...
this particular overextension failed, so waited for the next one and entered again after awaiting some confirmation, once confirmed, entered one final order before reaching targets!
and another couple of scalps using ema9 overextension targeting ema200 just now, as simple as it gets i reckon!
entered long on keltner channel overextension and price action support area, targeting midline, there were two prior opportunities clearly visible on the left, the first long after a sharp drop, and the second short into resistance just before my entries, i wasn't around to take them...
this particular overextension failed, so waited for the next one and entered again after awaiting some confirmation, once confirmed, entered one final order before reaching targets!
and another couple of scalps using ema9 overextension targeting ema200 just now, as simple as it gets i reckon!
every minute matters!
- #9,918
- Oct 19, 2023 1:07am Oct 19, 2023 1:07am
- Joined Dec 2022 | Status: Trader | 3,283 Posts
M1 XAU countertrend scalps - not missing out on this one!
as much as i hate shorting gold, if it happens at what "feels" like the right time, why let it go, why not trust myself and just go for it instead? trusting my analysis of the keltner channel overextension, i enter short, initially looking good as resistance builds up, but price bounces strongly off ema9 breaking resistance - now i'm thinking why did i short gold?!
so now i just wait as it gets stuck moving sideways on ema9 and ema20 at the pivotal 1950 level, targets remain at lower channel area well above ema200 due to the strong uptrend preceding the entries, it was a risky countertrend especially now that a keltner squeeze has developed...
and then the squeeze plays out, but only as far as the upper channel area where it was quickly rejected as it overextends ema9 again, i won't be adding any more orders to this already risky trade, if anything, i may have to reverse to cover the shorts, at least they are positive swap!
no need to reverse though as the rejection is strong and pushes price back past below the support of the recent sideways and into targets just above ema200 and into targets!!!
i won't do that any time again soon - always short gold with caution!
as much as i hate shorting gold, if it happens at what "feels" like the right time, why let it go, why not trust myself and just go for it instead? trusting my analysis of the keltner channel overextension, i enter short, initially looking good as resistance builds up, but price bounces strongly off ema9 breaking resistance - now i'm thinking why did i short gold?!
so now i just wait as it gets stuck moving sideways on ema9 and ema20 at the pivotal 1950 level, targets remain at lower channel area well above ema200 due to the strong uptrend preceding the entries, it was a risky countertrend especially now that a keltner squeeze has developed...
and then the squeeze plays out, but only as far as the upper channel area where it was quickly rejected as it overextends ema9 again, i won't be adding any more orders to this already risky trade, if anything, i may have to reverse to cover the shorts, at least they are positive swap!
no need to reverse though as the rejection is strong and pushes price back past below the support of the recent sideways and into targets just above ema200 and into targets!!!
i won't do that any time again soon - always short gold with caution!
every minute matters!
- #9,919
- Oct 19, 2023 5:22am Oct 19, 2023 5:22am
- Joined Dec 2022 | Status: Trader | 3,283 Posts
M1 EUR trend scalps - anticipating a bounce off ema50 for trend continuation in what is an obvious uptrend, the trend is old so a bit risky as resistance forms but follows through into targets which were lifted slightly for extra profits!
every minute matters!
