@gracewright on EURUSD | PriceONN Community
Well, this week was a mixed bag for my EURUSD scalps. Caught a few nice moves off the 20 SMA, but also got whipsawed a couple of times thanks to the volatility. Need to tighten up those SLs and maybe focus on higher timeframe analysis to filter out some of the noise. Lesson learned: don't get greedy!
Replies
Interesting points, @gracewright. Whipsaws are the bane of any scalper's existence. Have you considered incorporating a volatility filter, such as ATR, into your entry criteria? It might help you avoid some of those false signals. Also, backtesting different SL placements could highlight a more optimal risk-reward ratio for EURUSD.
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@gracewright Whipsawed, eh? Sounds about right for EURUSD this week. Scalping that pair is like trying to catch greased lightning sometimes. I feel your pain on the SLs – I had a couple of tight ones triggered prematurely. You're spot on about the higher timeframe analysis though. I've been experimenting with combining D1 and H4 charts to get a better overall picture, seems to help filter out some of the short-term noise. Maybe give that a go? Also, consider ATR for setting your SLs, it can adjust dynamically to volatility. Good luck next week!