Einstein Line - Learning to Scalp

[Jhx]

Btw I'm not gone, just taking some time off until 2~ weeks after new year or sometime around there .

(Happy new year in advance!)

[Mira]

Btw I'm not gone, just taking some time off until 2~ weeks after new year or sometime around there .

(Happy new year in advance!)

Happy new year to you too Jhx!

[Jhx]

Kinda still on vacations for a few more weeks, just didn't want to lose the habit of looking at the chart in the way I normally did when trading this .

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Price near the daily low, price below the open, below the range I'm interested in (60~). Stop near the open because it bounced off there a few times, aimed for the range on the short side.

In at the trigger line, exit at +20~ (+1.25%).

[Jhx]

Range didn't even get to the one I'm looking at, possibly because of the bank holidays, but no big deal. Stop was at the orange line. Was there for quite some time and exited with 5 net pips just a few minutes ago (wasn't moving much and when it was near the daily low I took the chips off the table).

Out with 5 pips (+0.5%)

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[Jhx]

Range not small enough where I'd look for an expansion nor wide enough where I'd look for a reversal. Sort of a "no man's land" . This is one of those cases where direction isn't clear to me (because of how I'm using range to trade) and I'd rather stay out.

Of course, other skilled traders might look at this and find easy pips regardless.

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[Jhx]

There was a good range to keep looking for an expansion. Short at the short trigger, stop at the orange line. I was holding on the trade at least until the range I was looking at was met (60~). Finally there was a quick spike, and at that point I was very conservative with my stop. Retraced 5 pips after that and exited with 22 pips (+1.47%)

GU-2-19-2020.png (52.48 KiB) Viewed 4170 times

[Jhx]

Range above average, liked the stats so took the chances to reverse off the daily low. SL just below the daily low, got a decent streak, put a trailing stop and got stopped at +14 pips (+0.80%~).

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Btw it's not that I'm picky and I'm posting winners or anything. I've been limiting myself to only 1 trade a day. And it's been working, at least so far. Some days I might not have any trades due to where the line happens to be in relation to the range (where I don't see a clear direction from that point in price).