EUR/USD Scalp 1 min

Here you go. Todays really crappy PA yielded 68 pips with 3 trades.

I am not going to run a thread for this. A chart is attached, work it out, I did so you can.

Stochastic. 8,3,3
TDI (new setting) RSI 7. OB 80, OS 20. the rest default. YOU DO WANT the volatility Bands
20 EMA
200 EMA

Hi,

At first step I must say that I like this strategy very much. Some time ago I tried simple approach with retraces, but it was based on reversal candles on higher TF and there was some power in it, but also drawbacks. Why I mention it? I think that it reflects my countertrend preferences somehow

I like approach presented in this thread, however I have some questions:

1) Here we have 2x push after some breakout. Is it enough to enter on the second push while it is close to R-level and there is divergence visible? Also this very small divergence marked with D. Shall we pay attention to that or just look at longer period like for these 2 pushes (green line)?



Here is also M5 chart


2) Pushes... are these accounted or we need to touch opposite band before and that way we have them all as a first push? I noticed that pushes like these below make wining trade very probable, what is your observation?



3) Here we got first push passing S-level only I guess? So no enter here?



4) Here we have strong move down, however H1 is far above ema200 still shall we consider trade upwards after some nice pushes around S-level or shall we drop the idea at all?




5) News... Did you notice that some 15min-1h after news there may be a good opportunity to countertrend trade? Are you hunting for that or rather stay away from news (I heard somewhere that 1/2 hour in both directions is unsafe)?

6) I don't like averaging and I'd like to prevent it as much as possible. Any clear rule when to run away from trade immediately and when to average it?

Did anyone try to automate this strategy?

Cheers
Rafal

interesting thread, anyone still trading this system or something similar ?

Still trading it, however, I keep price attraction points in mind which is a little more subjective. Screen time helps with this.

Hoss - I am gaining a lot from this thread. As a relative beginner at FX I am following the system as best I can. I get the RSI set at 8 - with overboughts and oversolds set at 80 and 20 respectively. I get also the Bollinger Bands set at 20 and 2 - using these to find opportunities where price is outside of the bands. What I am struggling with is Support and Resistance! Would you kindly let me know how you are identifying S&R on your M1 chart? With barely time to blink at times using this chart I am wondering if there is some kind of S&R alert that might help? Thankyou Hoss. Steve.

Hi Hoss, it's nice to see someone stick to their strategy over many years - to understand and master every aspect of it. Thanks for posting. I'm trading this way also

I have been using the same method in 5 mts TF with adding Fractals indi to identify reversal.
BB 14,2 - RSI 8 - Fractals - with gud results daily 100 USD gain net....

- Greenbackroyale...