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Hello everyone. I am developing a scalping system called "3 Hits", which consists of waiting for three confirmations before entering: a breach of range, a candle of intention and a divergence in RSI or MACD. I operate in M5, but valid in M15 and H1. Most of my operations last between 10 to 30 minutes. I am not interested in winning much by operation, I look for consistency.
And how do you define "see of intention"? Because that sounds quite subjective...
Good question. Candle of intention for me is a candle with a large body (at least twice the previous one).
Interesting. Do you have an indicator or do you do it all by eye?
I only use RSI and MACD, without overloading. The rest is price action and structure. I learned it by force: more indicators did not give me better results, only more excuses to not enter.
Because it sounds very theoretical but you don't show results...
I know, and I don't mind sharing results. I'm on real account with $1,005 and in three weeks I went to $1,148 with fixed risk of 1%. Average of 5-6 operations per day. The highest drawdown I had was -2.5%. It's not to brag, but it's stable.
Well, at least you don't sell smoke.
Depends. If the intention candle closes very far from the break, I expect retreat and enter by limit. If it breaks with little impulse, I enter the market with close stop. I am not dogmatic, I adapt according to context.
And the 3rd hit, because you mentioned 3 confirmations, but how does that align in real time?
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