M1 Candle Size [NASDAQ]

Just for my own journal on scalping Nasdaq with M1 candle size.

Let's see where it goes....

My chart would look like this;


Template:

Indicators:




This one below is for MT5 users:

Hey squeezeband!
what is your usual spread and what hours do you trade? I’m also scalping nq, but 5-15m timeframes, so interesting to see your approach!

good luck!

JP

Hi JP !

Just couple of candles (1-3 candles M1), LOL. As long as it covers the broker spread (around 270).

I took lots and lots of positions though.

Mostly NY open. I wait till 10am to see the real moves happening.

Between 8:30am till 10am, sometimes candle also move bigger because news, or breakout. But i like past 10am, because that's where the real volume is happening.
I stop trading at 11am.

I'm asian. I got really sleepy after 11am NY which is already close to midnight at my place.

Many times i also trade asian and london. They move very slow, with low volumes, but similar moves to EURJPY (which is stronger). So if the eurjpy and nasdaq looks similar movements around asian/ london, i took some trades on NASDAQ. With slower movements and low volumes, actually is pretty easy to spot some trades. But you got smaller pips.

Anyway, i'll post my approach, soon.

So, this is some of my method;
===================

1. look at the "candle pip points" indicator, i usually change the candle size within different session. NY is the biggest. usually i set to 300 and above on NY, and around 120-230 for asian and london. This indicator help us to remove the "noise" of other smaller candle. If you have a trained eyes, you don't need it, really. Just look at biggest candles around the session.



2. Just like any other S/R (such as MA's and Trendlines), i treat those big M1 candles as the Support / Resistance range. see this pic below, a trade i've just taken.



I don't trade inside those big candles (it means undecisive candle moves). It's either towards it, or away from it. Above, or below, their ranges.

On that pic, i took that trade because it has leave above the last big candle, some little pullback. then i close the trade on the previous bigger candle (news wickfill).

Anyway, when i post this, the candle still moves far away and even make bigger candles. But i got to be satisfied with what i got, LOL. Fast in, fast out. Little pennies.

It was meant only for a "test trade" on asian session, but turns out go far higher -again- than expected. This happens a lot with this M1 method.

No regrets.

London

Pre-NY

NY Open 10am sell

Very solid system with a lot of potential!!
270 spread is masssive though, I’m trading on 90 spread and that feels a bit high, I’ve seen some brokers with 50, but gotta find a trustworthy one..

NY Open... just minutes after USD CPI News

reverse block after 10am NY

well, i guess i'm gonna hold this for a while...

H4 fib62 strong

M5 view;


M1 view;


H1 view... well, should i still hold it ?

if FOMC wouldn't push it, i might just close this one...

ah, well...

I'm still holding that buy position since Sept 13. I have no idea when i'm gonna close it



But tonight just for some quick shorts...

out of topic, i'm also buying EURJPY now. same principle. big candle breaks mountains / rivers, follow them.

in executing within this timeframe, i often open another chart within 15s [15 seconds chart]. you might need a candle in seconds chart creator.


if you cant access it in another platform, this EA is comin very handy. works flawlessly, and its free [ridiculous for such a good EA].

chart in seconds chart creator , basically you put it in M1 windows, allow EA [on], and it opens new seconds chart at your will.

you trade on another normal windows, since it's chart seem to be only to view history at the seconds candle chart.

the amazing thing is you could use your own template and indicators within this new chart.
i often use the custom "scale fix" in MT5 for better visual.
and no need to wait (such as offline chart) where you need to put them in a vps to load first.
this EA pre-load the last 5 days history flawlessly. no vps needed.

it's for MT5 and you can also find it on the mql5 community free...


https://www.mql5.com/en/market/product/51159

i only pray for the code author may god always bless him and grant him thousands of pips to come...