M1 Countertrend Scalping Strategy

M1 BTCUSD

M1 BTCUSD

M1 BTCUSD

M1 BTCUSD

M1 BTCUSD

This strategy looks great, what would be the preferred forex pair for this?

Use the less volatile pairs that normally have weak trends, this strategy works well on flat markets.
Abade the author of this thread, has made a backtest of the pairs which work better with countertrend
Abade:
Mechanical Systems Update #1

I have scanned 29 forex pairs using PointO Renko Charts and a very simplistic countertrend system with a limited form of cost averaging and a max of 10 trades. Here are the final results of this research:

1) Pairs that benefit the most of PointO renko charts and countertrend logic:

#1 AUDCAD.
#2 USDCAD.
#3 EURCAD.
#4 EURGBP.
#5 NZDCAD.
#6 AUDUSD.
#7 EURUSD.

Just wanted to clarify that such results only apply for PointO renkos with specific brick sizes between 20, 25 and 50 pips, which are much closer to the H1 and H4 time candles, not the M1/M5 time candles the original strategy uses (it's a big difference). Another problem: The spread is too big in those pairs to use the 1 minute timeframe effectively.

The recommended pairs to trade using M1 and M5 with the original approach: EURUSD, AUDUSD, GBPUSD, USDCAD, EURGBP and XAUUSD, as they have a lot of movement and low spreads, just have to watch out for the big moves, especially in gold and GBP (the trader has to use discretion to avoid a strong trend).

M1 AUDUSD

M1 AUDUSD

Elsaloon,
How are you doing my man ?
cpfleger

M1 AUDUSD

M1 XAGUSD

M1 XAGUSD

M1 GBPUSD

M1 AUDUSD