Learn to be a Scalper - page 61
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Hi Ken,
Wish you a happy new year. Can i ask you a question i am currently doing some learning stuff on reversal patterns and found them really helpfull so i found you many times talking about fakeout patterns can you show me some charts regarding the same it would be really helpfull.
I'll be honest... can't really be bothered to use the search or read through 61 pages of this thread - but my question is pretty simple, I've come across information with EA's not allowing scalping. What is the reasoning for this? It's a legal way to trade, so why wouldn't an EA allow it?
Greeting's,
It has been a long time since my last post, and wanted to say hi to everyone.
I am hoping to do some more posting the remainder of the year.
Cheers.
I am specifically watching E/U.
I monitor the pair from Weekly, Daily, 4hr, 1hr, and 15min.
There are many ways to make pips/profit from every time frame.
It is important to find areas that were "important" at an earlier time.
You can find these levels on every time frame.
I will do what I can to explain and show these areas on charts.
For now I trade mostly the 15min trend swings.
Here is the most recent trade that is currently live, little risk on the stop since it is a key level from a higher time frame.
The trade just closed for +10 pips profit during this post.
After the exit of the first long, price came back to test near lows, and I found a 2nd long.
I am currently in the trade, but it is slow because of the afternoon time.
Had this been NY or London session, I would have been out with all the pips I had marked on the chart.
I closed this trade while posting this.
+7 pips
I will be waiting for 7pm EST now.
Long time going sideways, expecting it to go one way or the other.
My eyes are on the upper move back to 1.3080.
Once it crosses into my yellow box, I will take the entry, based on the candle formation.
As expected, price shot into my buy box, and I went long, then it pulled back to test that box area, I longed 2 more times.
I have the charts here to show the setup, entry, and exit as marked.
I am done for the night, but will watch the 1.3080 area I had called earlier today.
Cheers
Watching this area for now...
May be some news in a bit.
Cheers.
I was very busy the past couple weeks, but I am catching up.
I plan to post some charts this week with a few indicators for those interested in a 15 minute strategy.
Please post and let me know so I can pm the indicators to you.
Cheers.
Monarch
Based on the 15min chart and the indicators, short on EU signal cleared over +30 pips so far, with no exit signal as of now.
Here is the chart showing the entry points.
Cheers.
Monarch