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M1 Countertrend Scalping Strategy

  • #14,221
  • Feb 25, 2025 2:32pm Feb 25, 2025 2:32pm
Checkz,

See screenprint.
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  • #14,222
  • Feb 25, 2025 2:36pm Feb 25, 2025 2:36pm
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  • #14,223
  • Feb 25, 2025 2:39pm Feb 25, 2025 2:39pm
Quoting gringo2019
CM-PunkFX, See screenprint for explanations... {image}
Oh by the pip counter number u thought you meant enter using the HH numbers or the LL numbers.
  • #14,224
  • Feb 25, 2025 2:40pm Feb 25, 2025 2:40pm
CM-PunkFX,

I just showed how the Pip Number acts like a typical zigzag / HH LL Indicator....
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  • #14,225
  • Feb 25, 2025 2:41pm Feb 25, 2025 2:41pm
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  • #14,226
  • Feb 25, 2025 2:44pm Feb 25, 2025 2:44pm
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  • #14,227
  • Feb 25, 2025 2:48pm Feb 25, 2025 2:48pm
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  • #14,228
  • Feb 25, 2025 2:51pm Feb 25, 2025 2:51pm
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  • #14,229
  • Feb 25, 2025 2:58pm Feb 25, 2025 2:58pm
Understand ???
  • #14,230
  • Feb 25, 2025 3:13pm Feb 25, 2025 3:13pm
Quoting gringo2019
{image}
Ah… now I get what you mean gringo.. thanks for the detailed explanation my friend. A lot more clearer after your explanation. So the right number doesn’t print on the bottom or top of a candle unless it settles and closes with that candle, and then it’s a trend reversal. So let’s say we were on a uptrend once the number prints on the top we exit and then we can then get ready to go short once we get a red candle close is that right?…. And then we set the stoploss just above the number that’s printed.
  • #14,231
  • Feb 25, 2025 3:29pm Feb 25, 2025 3:29pm
CM-PunkFX,

Pip Number is printed on the top (closed candle) says a reversal in the Market is coming soon and the opposite.
The right number helps you see the direction and the amount of Pips price / market has travelled since the last top or bottom Pip Number - the real counter.
Place a SL above / below the top / bottom Pip Number by a few Pips (3 to 5)...
Simple but a great Indi.
  • #14,232
  • Feb 25, 2025 3:33pm Feb 25, 2025 3:33pm
Quoting gringo2019
CM-PunkFX, Pip Number is printed on the top (closed candle) says a reversal in the Market is coming soon and the opposite. The right number helps you see the direction and the amount of Pips price / market has travelled since the last top or bottom Pip Number - the real counter. Place a SL above / below the top / bottom Pip Number by a few Pips (3 to 5)... Simple but a great Indi.
Again thanks for the explanation…. I finally understand those numbers often seen on your screen prints didn’t know they were so useful. In the case of a stoploss and the number settles again do we re-enter and then again the stoploss slightly above that number right?
  • #14,233
  • Feb 25, 2025 3:53pm Feb 25, 2025 3:53pm
CM-PunkFX,

I usually do 1 trade per trend / countertrend per Pip Number as the 1M TF is too fast BUT as you have seen I use all TF's too...
  • #14,234
  • Feb 25, 2025 4:42pm Feb 25, 2025 4:42pm
Quoting gringo2019
CM-PunkFX, I usually do 1 trade per trend / countertrend per Pip Number as the 1M TF is too fast BUT as you have seen I use all TF's too...
yes I guess our right in a way… the 1M TF has always been known to have a lot of noise and to some it’s not tradable but then again I suppose it’s how you use it. Being fast means it suits some people who don’t like waiting… but I guess at the same time you have to target less pips.
  • #14,235
  • Feb 25, 2025 6:41pm Feb 25, 2025 6:41pm
Quoting gringo2019
Understand ???
Yes and Thanks
  • #14,236
  • Feb 26, 2025 2:49am Feb 26, 2025 2:49am
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  • #14,237
  • Feb 26, 2025 3:01am Feb 26, 2025 3:01am
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  • #14,238
  • Feb 26, 2025 3:08am Feb 26, 2025 3:08am
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  • #14,239
  • Feb 26, 2025 3:30am Feb 26, 2025 3:30am
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  • #14,240
  • Feb 26, 2025 4:09am Feb 26, 2025 4:09am
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