audcad Big Boss
If the weekly closes with a shooting star, I will go short as this is PASR and where I would expect to see a shooting star?
If the weekly closes above the 0.9600 I will wait to see if it has enough energy to get to the next SR level around 0.9800 as the momentum has been stong up to now.
Any comments are welcome.
Mystery chart ;-)
I see some similarity in structure to post#870, page 58....but I could be wrong.
I would like to thank Strat for this extraordinary thread. I am currently reading from post #1, plus all the sticky summaries etc.
Just wanted to say hello and thank you, in case you see me " lurking " during the next few days/weeks.
At the moment page 60-
Daily Trading Range of the USD GBP over the past 5 Years
Haven't had a chance to post for a while but I was prompted by the withdrawl of Strats ramblings!
Okay so this is not PASR but it is essential for beginners to know what the market is capable of doing to you.
The figures are based on the daily highs and lows for the past 5 years of trading the USD and GBP.
Daily PIP Movement as a percentage based on 1193 records
The minimum movement over the period is .42 pips
42 to 100 pips 15%
101-125 pips 15.9%
126 - 150 pips 17%
151 - 175 pips 12%
176 - 200 pips 11.5%
201 - 250 pips 12.5%
251 - 300 pips 7%
300 - 400 pips 5.5%
400 - 1060 pips 3.6.%
It shows that the volatility on a day to day basis is probably a great deal more than you think. 50% of the time the market moves by up to 150 pips!
You need to take this into account when you are looking at how much you are prepared to loose and where to put the stop loss to ensure you are not bounced out of a good trade by the big boys.
Hope this is of use
By the way still re reading the thread it's gowing faster than I can take it in!
Be careful thinking short here!
All 3 time frames are in uptrend.
94.50 area is a Major S/R level, which is where the Big Boys love to play.
Have a look at your MA's, something is wrong with them.
Shooting Stars need to be in the correct location to be called Shooting Stars. On my data, last weeks candle is still in control
audcad earlier mistake
As I was looking at the BB chart, the shooting star would still be valid on this TF but hey we have nearly three weeks to go on this candle formation so it is as much use as an ashtray on a motorbike.
Yes you are right last weeks candle is in control.
Gbpchf..pasr + luck
This trade was discussed before, but after I entered.
Retrospectively, this was a lucky counter trend trade, but achievement for me was to plan it with observations below, execute mechanically and when faced with the trade going against me for the 1st day, to not chicken out and close the trade for 3 pips...(I almost did), and let it ride. Working on the fear still. Only had 1 lot and target was 100 pips.. (Strat in my ear saying 2 lots, dammit, and take the 100 pips and let the next lot run to R @ 1.5840)....next time for sure.
Entry - @ 1.5605 above daily hammer
SL - 100 pips @ 1.5500 below strong S and body of hammer and FE 100
Target - just below top of prior 4 bars @ 1.5700. 100 pips R:R = 1:1
Heads-up for entry long : PASR .... ATM
W - hammer at S after down trend rejecting 1.5550 4x previously...sellers tried were strongly rejected, also = 100% FE from prior down @ 1.5525, and targeting a bounce off the 20
B - definitely down trend, triple bottom at 1.5550
BB - down trend triple bottom from Dec 2008 at said 1.5550.
This pair has a history of bouncing at least 3 times before breaking levels. so I thought it possible.
Activer, thank you for helping.
Here you go.
thank you very much
strat,something confused me
hello,strat.i am learning your website about PASR.and it is great and useful.
but there is something that i can not understand .can you explain them for me ? thank you
In the Power of Time Framesplate, i learned : "With the BIG BOSS and BOSS
now in harmony (both moving together in the same direction) we drop down to the Worker."
so , i think we should attention both BOSS and BIG BOSS at the same time .
But in Time Framesplate, i learned that : "but as regards our trading decisions
on the Daily, since the Monthly is two time frames higher (and controls the Weekly), we can
disregard this." so ,can i disregard the monthly chart (BIG BOSS) ? It is
As strat said :"If you have understood everything so far, you should realize that the
BOSS support and resistance levels are those which the Daily moves up and down against.
These then are YOUR major support and resistance levels." so we should look for the
S&R from the BOSS???!!! But I just remember (i am not sure) that strat once
said that we can not look for the S&R in a different frame, just like we
can not look for the worker's S&R in a 4h chart .
[quote=geniusztc;4015545]hello,strat.i am learning your website about PASR.and it is great and useful.
We take our major S/R lines from the Boss chart, although you may find they show up on other time frames. You can use lower time frames to identify where there may be a Strat "wobble". Hope this helps. Strat may come along with a more detailed answer.
Still Studying ,
© Forex Factory