DislikedSai Ram, I have a query regarding the Counter Trend rules if I may... When you say take the trade on the small blue dot, I assume we should wait for the next candle to open? Would you also recommend waiting for the parabolic signal? Perhaps an example chart/trade might assist sorry for all the questions, I hope they help others.Ignored
I trade the counter trend everyday if there is one gives a high probability signal.
I suggest you to take the small blue dot circle generated by SSChannel3 v1.03 indicator (Verified, author). Because the big blue dot circle might not stabled when you decide to consider it as a counter trend signal. For safety, we need price retraces from the appearance of the big blue dot circle and we want to see the small blue dot circle appears then we can assure ourself that the small blue dot circle is aligned with the big blue dot circle.
The chart below illustrates the high probability of taking a counter trend signal in M15 below the RIPT.
P1 : Trend H4 is red -- Downtrend
P2 : Big blue dot circle appears -- Signal of the reversal
R : There are retracements
P3 : Small blue dot circle appears and aligns with the big blue dot circle-- This is a signal that you have to take and pinpoint in M5
Sai Ram
Being a fxtrader is not easy. Ones must working hard.