M1 Countertrend Scalping Strategy | Page 555 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD

Similar Threads

Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies

strategy builder/tester for new scalping strategy 1 reply

1M & 5M Scalping System (Scalping Paradise) 21 replies

Reversals vs. CounterTrend Trade 28 replies

CounterTrend Trading 58 replies

Attachments: M1 Countertrend Scalping Strategy
Exit Attachments

M1 Countertrend Scalping Strategy

  • #11,081
  • Mar 8, 2024 9:23pm Mar 8, 2024 9:23pm
M1 BTCUSD - working on trend trades...

1\ aggressive entry using trend change detection
2\ conservative entry riding an established trend

this is a conservative entry, price holds above ema9, ema9 crosses ema200, followed by sma20 and then the lower keltner channel as they form nice parallel lines...

entry is after ema9 crosses and before sma20 crosses ema200...

i anticipate ema9 and sma20 will provide support and push price into targets on the outer keltner channel...
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 16 KB


then an unexpected gap pushes price back down to ema200 where it finds support then quickly shoots back up to targets!!!
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
every minute matters!
  • #11,082
  • Edited 6:27am Mar 9, 2024 6:14am | Edited 6:27am
Quoting micromin
{quote} Hey @niks, I am following your xauusd charts and they are helpful. Just a question. Are you following the same m1 ema strategy? If yes, I was wondering how you overcome the big pushes when price is volatile? I'm practicing gold on demo and sometimes the drawdown gets a lot if I get trapped in a long trend. I'm also trying to decode volume (ticks) and see if I can relate them to reversals. Are you using volumes in gold or adr? I'm also noticing some stoch/rsi levels are also good confirmation for gold..
Thanks @nick!

I traded gbpcad yesterday and it was a good win. But I got caught in gbpaud up trend yesterday (not sure if my entry was ok, but it seemed ok). I did some scalps in the way of trend to recover but it was a bit risky since the trend could return anytime but this time worked for me and helped to gain some profits. Still holding gbpaud sell for next week though. As you said, money management is the key.

I'm happy I'm experiencing the challenges using a small account
  • #11,083
  • Mar 10, 2024 6:13am Mar 10, 2024 6:13am
weekend BTCUSD - trends come in all shapes and sizes!
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 30 KB


these entries are trend continuation looking for support off ema9 and midline targeting resistance...
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 17 KB



i also only just noticed that mt5 has keltner channel plus many others included as "free" indicators now...
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 4 KB



Quoting micromin
{quote} Thanks @nick! As you said, money management is the key. I'm happy I'm experiencing the challenges using a small account
my pleasure micromin, i think money management is the toughest part of any strategy, glad you're enjoying the experience!
every minute matters!
  • #11,084
  • Edited 3:50pm Mar 10, 2024 6:25am | Edited 3:50pm
This coming week I'll be trading something different based on this strat. Your thoughts and comments are welcomed.

Rules for entry
Price must be X distance away from 200. (X depending on pair being trading, XAUUSD is good at .23)
Short when above 200, long when below 200.
Price must break through BB, enter on candle breaking back through BB.
SL set 3-5 ticks above last high if shorting, or low if going long. Move SL to +2 ticks once price has reached +5 ticks (tight yes but it avoids death by a thousand negative SL hits if price is trending).
If candles are short and drift out and back into the BB gradually wait for 9 cross to enter. Higher risk move, feel it out!

Rules for exit
TP at 200, move TP to follow 200 or chase with +SL if feeling adventurous.

The strat looks good on paper however I've yet to try it live with the spread.

Here's a quick couple screen grabs of the last gold session. FYI there's no entry right after 13:30 given the news event which i'd stay clear of. I'll get some more time on it tonight.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_2024-03-10_11-06-15_468b7.png Size: 87 KB
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_2024-03-10_11-12-38_100fa.png Size: 78 KB
  • #11,085
  • Mar 10, 2024 3:46pm Mar 10, 2024 3:46pm
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_2024-03-10_20-32-46_6d57b.png Size: 73 KB


Toyed around with the strat a bit more and It seems to have some legs. There has to be a relationship between the size of SL and distance from 200 so that a RR of at least 1:2 is maintained. This should cover the bad trend entries. The distance from EMA rule mostly covers this.

For smaller bunched up candles that creep out away from and back into the BB gradually, its worth waiting for them to cross the 9 before entering if you feel like doing so.

In my screen grab I'm not paying attention to the distance from EMA, simply feeling out the strat with some practice in different situations. The emoticons are next to the order closes.

I'll set up some alerts for price crossing the BB's and from there we'll see how it goes!
  • #11,086
  • Mar 11, 2024 2:08am Mar 11, 2024 2:08am
M1 XAUUSD - ema9 plus keltner channel plus rsi overextension countertrend entries long targeting resistance at ema200!

missed 2 of the 3 targets, so entered another round of longs on another ema9 and rsi overextension, targeting a break of resistance and ema200...
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 24 KB

resistance is broken and targets are hit!
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 30 KB


Quoting PR31D
{image} Toyed around with the strat a bit more and It seems to have some legs. There has to be a relationship between the size of SL and distance from 200 so that a RR of at least 1:2 is maintained.
good luck, it hasn't been tried as far as i know so it's worth a shot...

my stop losses when i used them had a higher win rate than my targets for some reason!
every minute matters!
  • #11,087
  • Mar 11, 2024 2:15am Mar 11, 2024 2:15am
M1 EURUSD
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 33 KB
every minute matters!
  • #11,088
  • Mar 11, 2024 2:27am Mar 11, 2024 2:27am
M1 XAUUSD - countertrend into mini trend!
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 28 KB

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 19 KB
every minute matters!
  • #11,089
  • Mar 11, 2024 2:43am Mar 11, 2024 2:43am
M1 XAUUSD

entries...
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 16 KB

and exits...
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 17 KB
every minute matters!
  • #11,090
  • Mar 11, 2024 2:51am Mar 11, 2024 2:51am
M1 XAUUSD
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 17 KB

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 20 KB
every minute matters!
  • #11,091
  • Mar 11, 2024 8:36am Mar 11, 2024 8:36am
M1 XAUUSD - indecisive gold!
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 18 KB

opening another round after missing some targets., remaining cautious below ema200...
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 21 KB
a break of very strong support fails to hold and all targets are hit as price returns to resistance!
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 31 KB
every minute matters!
  • #11,092
  • Mar 11, 2024 8:43am Mar 11, 2024 8:43am
M1 XAUUSD
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
every minute matters!
  • #11,093
  • Mar 11, 2024 10:14am Mar 11, 2024 10:14am
M1 XAUUSD
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 12 KB

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 20 KB
every minute matters!
  • #11,094
  • Mar 11, 2024 10:35am Mar 11, 2024 10:35am
M1 XAUUSD
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 17 KB

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 21 KB
every minute matters!
  • #11,095
  • Mar 11, 2024 10:40am Mar 11, 2024 10:40am
M1 XAUUSD
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 18 KB

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 20 KB
every minute matters!
  • #11,096
  • Mar 11, 2024 3:47pm Mar 11, 2024 3:47pm
Quoting PR31D
{image} Toyed around with the strat a bit more and It seems to have some legs. There has to be a relationship between the size of SL and distance from 200 so that a RR of at least 1:2 is maintained. This should cover the bad trend entries. The distance from EMA rule mostly covers this. For smaller bunched up candles that creep out away from and back into the BB gradually, its worth waiting for them to cross the 9 before entering if you feel like doing so. In my screen grab I'm not paying attention to the distance from EMA, simply feeling out the...
Thanks for sharing, let us know how it goes.

I am skeptical about the use of SLs and ratios in countertrend strategies, so I would never use them that way.
  • #11,097
  • Mar 12, 2024 7:13am Mar 12, 2024 7:13am
M1 XAUUSD
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 10 KB

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB


Quoting Abade
{quote} Thanks for sharing, let us know how it goes. I am skeptical about the use of SLs and ratios in countertrend strategies, so I would never use them that way.
i agree, every trade is unique - strictly following a plan or set of rules for every trade does not work well in my experience, improvisation is often required...
every minute matters!
  • #11,098
  • Mar 12, 2024 7:36am Mar 12, 2024 7:36am
M1 XAUUSD - expect the unexpected...
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB

and improvise!
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 14 KB
every minute matters!
  • #11,099
  • Mar 12, 2024 9:33pm Mar 12, 2024 9:33pm
M1 XAUUSD - trend continuation entries long on pullback to ema200 targeting resistance...

remained cautious when support failed to hold at ema200 where a countertrend opportunity was offered and taken...

the second break back above ema200 holds and leads straight to targets as the trend continues!
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 30 KB
every minute matters!
  • #11,100
  • Mar 12, 2024 9:47pm Mar 12, 2024 9:47pm
M1 XAUUSD - catching the continuation!
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 16 KB
every minute matters!
13 traders viewing now