DislikedThis is a countertrend trade, not recommended in the basic rules.
On page 55 of the M15 manual Clay briefly discussed Advanced strategies.
"Scooped Up" or "Scooped Away" is one of those.
This trade was my interpretation of his rules for a trade like this.
I entered at the retouch of the 10 EMA in the next candle.
I managed to make a few pips profit, it was a BAD profitable trade.
(A trade that was profitable but not within the basic rules.)
Price is now more pips lower than my "small" profit was after entry.
[color=#808000]My...Ignored
'My' interpretation of the 10ema scoop is when price breaks the 10 AND then comes back to test it and moves off with it.
What you have there, in my view, is a breakout, not a scoop.
I know this last comment is easy in hindsight, but you will see now that the 10ema did not scoop the price.
Clay never really got into these, as you pointed out, it was going to be for the advanced class. But if you look back through his examples when he was telling people why their 10ema bounce did not work, each time the 10ema has rejected the following test which in turn has started a new trend (however short it may be).
Nothing wrong with your trade per se, but just wanted you to know my view on it.
Personaly, I think it's going to be very hard indeed to catch a 10ema 'scoop' if the 5min PA is not used....... how do you know it's been scooped? unless of course your now three candles past it.... the one that broke it, the one that tested it and then the one (hopefully) that tests it again.
I think he put this in the advanced class because I think you gota be pretty ballsy to take it. If it breaks, comes back and tests it and comes back AGAIN....... I wouldn't want to be taking it.
Just my two pence worth!