11. Master Class [5] - Scalping Part 1 Flashcards
First thing to do when opening TradingView?
And then?
Check the 15 minute TF and mark the previous day high and low to get the range.
Then open the 1m and look at what price is doing.
If you’re trading longs you first need to see what?
Price has to be above the 50 EMA (or at the 50 EMA and momentum shows movements higher)
For every deviation away from the moving average..
price will come straight back
How can you predict where price moves to in a move?
By looking left and noting where the vector candles are
What new moving average to play with?
25 WMA
What is the main thing to look for, for entries?
Vector candles moving away from the moving averages
Secondary thing to be aware of when looking for entires?
Whole and half numbers (and other levels perhaps?)
You base your decisions off which timeframe?
15m
When the 50 crosses the 200 EMA on the 1m timeframe, what just happened?
Momentum changed direction
Why are golden/death crosses on scalp timeframes valid (versus the usual lagging crosses) ?
Because of the retest - the crosses happen just before the retest
When the 800/200/50 EMA are all fanned out, what are you expecting and how can you take advantage?
You can expect a sizeable retrace - take advantage by getting in early and taking profits as price crosses each of the moving averages
When do you close scalps, always?
In momentum
If you’re not confident with the break of the 50 EMA on your entry, what must you do?
Wait for the retrace
If there is no clear expansion on the moving averages, what can be said about your entry?
Don’t take it
When you’re judging if price is reversing, what do you look at?
The smaller EMAs for direction, TDI for clues in volatility
