What worked really well was Trading Decision Point Areas and the automatic Overbought/sold system with the CMO indicator.For my scalping method I am sticking to the 5 Min Decision Points there are perfect when keeping following things in mind:
- In Decision Areas its still a valid long entry if there is a large range bar and price runs above this bar.
- Same for blue or gray large range bars if the clearly break a structure its a valid short entry.
- Its wise to not exit a long or short trade if the red or blue bar in the Decision Area would not serve as a countertrend entry (if the bars are very narrow)
- Especially during volatile market phase its wise to use every break above a blue or below red as an entry to have enough buffer to exit the trade once it goes in the wrong direction at breakeven
- On longer lasting trends drawdowns of 20 Points can happen, but the long trade is only over at a break below a red bar in a decision point area.
- Exiting near double tops below red bars with high volume
- Enter on a bar that has a large void above for longs and below for short
- Avoid entering just before the open and be aware that the stop should always be above the decision point areas for short. Only when the direction and momentum is clear stops can be set above the red entry bar.
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