M1 Countertrend Scalping Strategy

M1 GBPUSD

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Attached Image (click to enlarge)

M1 GBPUSD

M1 AUDUSD

M1 GBPUSD

M1 XAUUSD

M1 XAUUSD

M1 XAGUSD

This is clear evidence you can’t keep buying to return to profit…. Gold was a good example from last night till now. I actually started buying really late on the chart but it just continued to drop and drop further.

the first level is break of support and ema200 is down so good time to STOP or NOT countertrend at this point - wait for new support and down trend to exhaust or follow the downtrend instead... but this is M15 chart so not entirely relevant for M1 scalping analysis if that's what your trades were based on, it may be useful for drawdown analysis though... just my thoughts!

M1 AUDUSD

M1 BTCUSD - about to score another MILLION PLUS points!!! on top of what was already scored in between!

M1 BTCUSD - and there it is...

[quote=niks;14711626]{quote} the first level is break of support and ema200 is down so good time to STOP or NOT countertrend at this point - wait for new support and down trend to exhaust or follow the downtrend instead... but this is M15 chart so not entirely relevant for M1 scalping analysis if that's what your trades were based on, it may be useful for drawdown analysis though... just my thoughts! {image}[/quote
Hi Niks, yes it’s a 15 min chart shown but I actually did the trading from the 1 minute chart, which is why I said I actually starting buying when it had already tanked quite a bit… but it still continued to drop. At ok point this morning within 1 candle it dropped a staggering 90 pips. If you look at the chars this can be seen.

gold is volatile and that is not unusual cm-punkfx, it did it again just before, this was an 85 pip drop!

yeh I know Niks… the only reason I trade gold is because I find there’s more reversals.

fair enough mate, gold takes some getting used to, i used to hate shorting it but getting better at it now after collecting positive swaps from longer term short positions a few times already... we need reversals to recover bad trades! best of luck!

yes your right Niks, unfortunately we get good and bad trades it’s part of the game. Definately not easy trying to make a living from forex. But practice makes better.

M1 AUDUSD

Guys, I’ve been using mt5 all this time but want to give mt4 a shot as there’s more indicators available. Can anyone help me with how you get the indicators after you have downloaded them. With mt5 I just downloaded them and they appear on the format but when I use mt4 I download them but they are nowhere to be found.

CM-PunkFX
See screenprint to get you started.
cpfleger