Attachments: M1 Countertrend Scalping Strategy

M1 Countertrend Scalping Strategy

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

gringo2019
| Commercial User | Joined Feb 2019 | 3,404 Posts

Checkz,

See screenprint.

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#14,222
Feb 25, 2025 2:36pm Feb 25, 2025 2:36pm

gringo2019
| Commercial User | Joined Feb 2019 | 3,404 Posts

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#14,223
Feb 25, 2025 2:39pm Feb 25, 2025 2:39pm

CM-PunkFX
| Joined Nov 2023 | Status: Trader | 164 Posts

Quoting gringo2019

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CM-PunkFX, See screenprint for explanations... {image}

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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

gringo2019
| Commercial User | Joined Feb 2019 | 3,404 Posts

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

gringo2019
| Commercial User | Joined Feb 2019 | 3,404 Posts

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#14,226
Feb 25, 2025 2:44pm Feb 25, 2025 2:44pm

gringo2019
| Commercial User | Joined Feb 2019 | 3,404 Posts

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#14,227
Feb 25, 2025 2:48pm Feb 25, 2025 2:48pm

gringo2019
| Commercial User | Joined Feb 2019 | 3,404 Posts

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#14,228
Feb 25, 2025 2:51pm Feb 25, 2025 2:51pm

gringo2019
| Commercial User | Joined Feb 2019 | 3,404 Posts

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#14,229
Feb 25, 2025 2:58pm Feb 25, 2025 2:58pm

gringo2019
| Commercial User | Joined Feb 2019 | 3,404 Posts

Understand ???

#14,230
Feb 25, 2025 3:13pm Feb 25, 2025 3:13pm

CM-PunkFX
| Joined Nov 2023 | Status: Trader | 164 Posts

Quoting gringo2019

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{image}

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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

gringo2019
| Commercial User | Joined Feb 2019 | 3,404 Posts

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

CM-PunkFX
| Joined Nov 2023 | Status: Trader | 164 Posts

Quoting gringo2019

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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.

Ignored

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

gringo2019
| Commercial User | Joined Feb 2019 | 3,404 Posts

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

CM-PunkFX
| Joined Nov 2023 | Status: Trader | 164 Posts

Quoting gringo2019

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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...

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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