I've been very busy the last 2 weeks and also didn't had the mood to post here....But here we go now, I'll do it now right on the edge of the weekend.
Also want to state one quote very dear to me - I guess we all can find wisdom and encouragement in this one:
"Successful trading is like getting pregnant.
Everyone congratulates you when you manage it but no one asks how many times you got fucked first."
AudUsd Trades this Week:
So this is where it gets interesting. Blue arrows shows my paper trades going short on this pair and I am still in the trade.
Green and red arrows shows my live trade on this pair. In and out for 1.4 pip profit after getting the bejeebers scared out of me by Mr Bond. Thought I was cool to to exit with no loss. Re-entered on paper and off she went with a waltz... go figure
Result this week
RugRats 1 JCMPete 0...
hi, sorry for bothering.
i just wanna ask if these candles are good for entry. I'm not taking any trade, just drawing in lower tf for better understanding the concept of WCC.
I'm switch the Big Boss to 4h, boss 1h, then worker 15m. they're in parallel 4x each other. but instead i mark 1 BB candle, i left the last BB control candle as a S/R for the current BB control.
forgive my english
here's my chart (Boss & worker chart).
it was in the last BB control candles, upper red box.
1h. - vertical line where the boss said to go south
15m. - 3 red arrows, where the candles formation.
feel free to comment, its fun draw these box and watch what happen.
Hi Potatoes ,
Nice name you hv..
If I try to answer your questions, couple of questions comes in to my mind.
1. what is that vertical line. is it a start of session ?
2. where is your Support and Resistance lines?
3. If that green vertical line is a start of new trading session then you seams trading within first hour of the session ,which is pretty risky
4. what are those Moving averages? is it correct?
I am not exactly sure if you could incorporate Weekly Control Candle concept in to lower time frames. Because Strat created that concept particular to Daily time frame. why not first understand this concept using your Daily (as worker) , Weekly (as Boss ) and Monthly (as Big Boss) . Once you understood this first, then you might be in a better position to incorporate these to lower time frames.
Further how you use Volume with Strat's PASR? You will only get messed up if you try to mix various methods. Better idea may be to start with blank and learn Strat's PASR first. The way he teaches it first.
So read the thread's first and learn PASR - which is PRICE ACTION at SUPPORT & RESISTANCE , and may be set up Strat shadow and learn how PRICE behaves around Strat Shadow
Hope this helps
here's my point of view :
1. vertical line was the candle that turn north in boss (1h in first chart) near or almost hit the strat shadow. in this case, since the big boss control candle is a short candle (those pinky box is 4h), I just find a structure that signaling short near strat shadow inside the box near 20 ema (both in 1h & 15m). with that line I can see where the price take a pullback, ready or building structure in lower tf, since it is just 4 candle each per 1h (15m) I can wait while house nursing my grandpa. the worker chart (2nd chart m15) show us whats going on after that line. some candle i read from the old j16 look like BEOB, those 3 red arrows. thats what I'm asking, it is a signal or something ?
2. the case with SR, i use the box drawn up there. the big boss is my SR. 4h chart in a down tren, with the help from that box, i call that minor SR. i didn't draw the horizontal line because i wanna know whats happen inside the box, the reason i post question was to understand the concept as much as possible.
(I want to stay studying in my lap, but grandpa always calling) - i think it's not an excuse to study, well.
3. it's not market on the chart, well i'll mark the starting session, DST make me confuse sometimes haha.
4. those MA's are : 20 ema, 72 ema, and 200 ema
well, if these low tf didn't working for underdtanding the concept of WCC,look like i should back to the F12 training for further understanding, not bad btw, joke...
volume, ah, this one
I'm still training and try to understand your last statetement and these concept, thats why I didn't jump to the '5m race up there', like strat always said : "watching grass grow" lol, this one always make me laugh.
thats my point of view, any guidance will be apreciated.
-c4t (or just potatoes wahaha)
edit : updated chart with some lines above and below the downstair. looking to the left far far away.
red arrow for minor SR
green arrow where I would enter the market
vertical line where london & NY open
Check my chart. which is same as yours. which one is the easiest and simplest to read the candles? And PRICE ?
Further you seams not understood Strat's PASR method. So please read the threads. starting with Strat's previous thread first.
If I were you , then I would remove that flipping Volumes, it will only confuse you. We do not use volumes any more here.
Also correct me if I am wrong here, but it looks like you thread hopping a lot. which will not help. So if you want to learn Strat's PASR method then I would stick only to this strategy and learn it. trying to pick bits and pieces from here and there won't help.
P.S. I didn't try to answer your questions here because my head spinning to read that chart. may be some one else might.
I never draw a lot of thing in my chart. i just draw that few hours back. as I stated in my first post, I draw some box because i wanna know what happen inside the box (wcc again). then, updated chart posted just to show what's my point of view, to tell you 'this and that' inside my head. if i didn't draw that, how am I supposed to tell you ? I'm not good with word, lol
and yes, your chart more clear, the different with mine it just my can't use the template (mobile at it finest). next time, whats left is just SS, open market vertical line, just like the first post from me, without the box.
thank for guide,
it's almost 3 am here, enjoy the time while nursing the old one.
yeah yeah I got you, but that box is not the correct WCC. And there is NO such thing called Boss control candle. My understanding about Weekly Control Candle is that Strat created the concept for us to avoid consolidation areas,which is little risky place to initiate trades.
BTW. pls note that I am still learning
[quote=potatoes;12278505]hi, sorry for bothering. i just wanna ask if these candles are good for entry.
The PA Candles you need to know and recognize in Strat's PASR Methodology are:
Also note that PASR stands for Price Action at Support / Resistance so these PA Candles need to be at Support or Resistance to have any value in trading.
I really like the way you explained Risk and Reward using the chart. It gives a lot of context on what to look for trading Basic PASR.
Boss charts that caught my eye during my end of week analysis:
AudNzd: Strong close end of week below the Strat Shadow, Support and bottom of previous WCC
CadJpy: Hammer at bottom of WCC
EurGbp: Strat Shadow Straddle , confirmed Swing low
EurUsd: Weekly close back in direction of Down Trend
GbpCad: Big Boss is giving instructions and Boss is listening. Another Straddle of Strat Shadow, Confirmed Swing High.
GbpUsd: Confirmed Swing High, Strong close back into down trend.
UsdJpy: Hammer at Support and 200.
Comments and discussion welcome...
Break even or a small profit beats a loss anyday! Even if you did "miss" a trade, better to be out wishing you were in than to lose money.
Just my thoughts.However I would like to see what JCMpete's has to add ..
Could you please share your template. Thanks in advance
changed that wcc in bigger tf in my lap. so here i am, focusing to read PA in lower tf, where and which trade should i put, etc. the beautiful thing with Strat shadow is, I know where to put my stop beside the SR drawn, it's kinda overwhelming, out of the crowd.
1 year ago, i just use engulfing bar to enter my trade, but never in any SR, and thats my fault never knew about this thing, thats what happen when you get education from those broker shit, lol.
and i just remember, i ever come to Strat website back in late 2015 - early 2016, that green theme site. but i just take the way to draw SR, too bad i didnt take the rest to study myself. at that moment I was in the broker learning group, omg...
thats why I feel familiar with dr. joe story, like "hey, i heard this story somewhere". holy...
gonna learn a lot from this.
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