Hello to all
I don't really like long explanations, so I will try to be brief. I have been using the PVSRA template for a few months now and really like the way the candles can tell us information. My aim with this thread is to explain how I have been trading using that template and then maybe people on here can build on it and bring new experience. You are all welcome to ask anything and don't really have any posting etiquette other than general forex factory etiquette.
The template can be downloaded from the following page: https://www.forexfactory.com/showthread.php?t=540706 under the first posting. All credit goes to TAH and the team of developers that put together this incredible template. There is a newer template somewhere, but that template should work just fine....i hope. Let me know if you have any problems. Also please read the first post there to get a feel about some of the terms we might use. Thanks
Please Note: Please ask if you guys/gals want to know something that i post about. I do not bite.....
Strategy:
Times: Generally start watching market around Frankfurt open for about 2 hours. Then i watch again before New York open and about 2 hours thereafter. Why? I find it easier to read the activity during those times.
Technique: I trade reversals of the market by analyzing where volume is concentrated and the reactions to certain candles. I consider it more towards an art rather than an exact method. To understand more about what i am saying i will post setups and how i have taken those trades as a picture will explain more. Please ask questions and suggestions if you want.
Ok, let's get started. I will first start to post older trades that i have taken this year so that everyone can see my journey and then we can progress.
1st Trade: (explanations are on the chart)
As you can see I was able to take a trade short and backed about 7 pips. I try to read the volume and price to determine where the market may move next although we can never be entirely sure as to the way it moves. Anyway, that's it for the first trade, please ask if you don't understand and i will try to explain. Thank you Bye
I don't really like long explanations, so I will try to be brief. I have been using the PVSRA template for a few months now and really like the way the candles can tell us information. My aim with this thread is to explain how I have been trading using that template and then maybe people on here can build on it and bring new experience. You are all welcome to ask anything and don't really have any posting etiquette other than general forex factory etiquette.
The template can be downloaded from the following page: https://www.forexfactory.com/showthread.php?t=540706 under the first posting. All credit goes to TAH and the team of developers that put together this incredible template. There is a newer template somewhere, but that template should work just fine....i hope. Let me know if you have any problems. Also please read the first post there to get a feel about some of the terms we might use. Thanks
Please Note: Please ask if you guys/gals want to know something that i post about. I do not bite.....
Strategy:
Times: Generally start watching market around Frankfurt open for about 2 hours. Then i watch again before New York open and about 2 hours thereafter. Why? I find it easier to read the activity during those times.
Technique: I trade reversals of the market by analyzing where volume is concentrated and the reactions to certain candles. I consider it more towards an art rather than an exact method. To understand more about what i am saying i will post setups and how i have taken those trades as a picture will explain more. Please ask questions and suggestions if you want.
Ok, let's get started. I will first start to post older trades that i have taken this year so that everyone can see my journey and then we can progress.
1st Trade: (explanations are on the chart)
As you can see I was able to take a trade short and backed about 7 pips. I try to read the volume and price to determine where the market may move next although we can never be entirely sure as to the way it moves. Anyway, that's it for the first trade, please ask if you don't understand and i will try to explain. Thank you Bye
forex is almost zero sum, but more importantly the information is zero sum