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Strat's PASR Long Term, Stress Free Trading

  • #1,401
  • Dec 19, 2017 4:30am Dec 19, 2017 4:30am
Quoting strat
AUDJPY {quote} Whether you know it or not, you just traded Basic PASR. PRICE has now stalled at the Strat Shadow so we "expect" lower PRICES. I explained many times in my "old" thread how the Weekly Control Candle acts as Support and Resistance.
Thanks for the reply, Strat! I appreciate it.

I am still in AJ, I have not closed it, because yesterday we made a DLHB, and since Friday was an IB, I treat the Thursday, Friday and Monday candles as bullish pop gun pattern.
  • #1,402
  • Dec 19, 2017 8:03am Dec 19, 2017 8:03am
Hi - found few more entries on USD/JPY - are these entries correct ?
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  • #1,403
  • Dec 19, 2017 9:20am Dec 19, 2017 9:20am
Still trying to trade M5 but am fully aware that the meat of the move happens during the London session while I am asleep.
So I looked at this pair four hours after EOD yesterday and decided to get long before I went to bed on M5 move above shadow and 200ema.
This morning found that price had moved up to H1 resistance which was my target.
Closed trade for +60 pips.
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  • #1,404
  • Dec 19, 2017 9:46am Dec 19, 2017 9:46am
AUDJPY

Quoting catalin_eros
{quote} Thanks for the reply, Strat! I appreciate it. I am still in AJ, I have not closed it, because yesterday we made a DLHB, and since Friday was an IB, I treat the Thursday, Friday and Monday candles as bullish pop gun pattern.
If PRICE closes above the Strat Shadow then a test of the Weekly Control Candle high is likely
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,405
  • Dec 19, 2017 9:52am Dec 19, 2017 9:52am
USDJPY M5

Quoting Forex_Fox
Hi - found few more entries on USD/JPY - are these entries correct ? {image}
Yes, but it is much easier with the Strat Shadow switched on - I have to LOOK at your chart and study it - I just LOOK at mine and know straightaway what to do
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,406
  • Dec 19, 2017 12:04pm Dec 19, 2017 12:04pm
EURJPY
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  • #1,407
  • Dec 19, 2017 12:05pm Dec 19, 2017 12:05pm
Quoting TerryDawe
Still trying to trade M5 but am fully aware that the meat of the move happens during the London session while I am asleep. So I looked at this pair four hours after EOD yesterday and decided to get long before I went to bed on M5 move above shadow and 200ema. This morning found that price had moved up to H1 resistance which was my target. Closed trade for +60 pips. {image}
Great trading.
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  • #1,408
  • Dec 19, 2017 12:10pm Dec 19, 2017 12:10pm
Hi Terry
I notice in London the price often moves In conjunction with pre planned news announcements - which you can find in the forex factory calendar if that is any help (for the 5 min)
Quoting TerryDawe
Still trying to trade M5 but am fully aware that the meat of the move happens during the London session while I am asleep. So I looked at this pair four hours after EOD yesterday and decided to get long before I went to bed on M5 move above shadow and 200ema. This morning found that price had moved up to H1 resistance which was my target. Closed trade for +60 pips. {image}
If you can wait and not be tired by waiting...
  • #1,409
  • Edited 11:56pm Dec 19, 2017 11:00pm | Edited 11:56pm
Hello everyone,

Here's a potential trade I think is pretty simple for USD/CAD. I know I said in a few posts back I was not doing WCC analysis, but I read a bit more about them and I saw this opportunity so I thought I'd share it anyways. As strat pointed out in a previous post, the pair is currently working on it's 8th week being trapped inside the WCC (delineated by the dashed blue lines). So, on my data, there's a SS at the WCC resistance on the daily. Enter short 10 pips below low of SS candle. TP at the support level I have drawn at around 1.268. And SL just above the high of the SS

Daily chart -

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  • #1,410
  • Dec 20, 2017 6:54am Dec 20, 2017 6:54am
Hello everybody, especially Mr Strat.

This is my first comment into this tread and FF. I want to thank you Strat for your two great threads.

My forex history going back to january last year, when I read a story about some guy, who was making millions from forex trading( Later i found out it was a scam). I thought, if he can make it, I can make it as well. I started reading online courses and books and after two months I opened an live account with 100 pounds, then I added another 900 pounds. I almost lost them in one month. Then I started trading just the news with good success, I was always trading all in with straddle technique. Over period of five months I made 6000 pounds and I thought Im the King of kings, luckily I was always putting away some profit so at the end I save 2500 and lost the rest. That was my short trading career. I cant describe the feeling, when I was in the trade and my heart almost jumped out, it was very stressful.

This year last month I decided I will start again, but the luck wasn't on my side and after browsing through some threads and trading techniques, I found your thread Strat and I was hooked.
Im now at the beginning of the path of learning, at the moment on the page 48/1076.
Im also going through the james16 thread and reading books. Learning PASR, demo trading and checking the charts from the past to see how and why is price moving up and down.
I started writing trading journal and write the rules, when I can enter the trade. Still working on it, trying polish it and find what is suit for me. Trading on the daily time frame is big relieve, I dont have to watch screen all day.
Going trough your old thread is like re-live it again.
Sorry for the length and my bad english.

Thank you again Mr Strat.

Sincerely Martin
  • #1,411
  • Edited 12:47pm Dec 20, 2017 7:07am | Edited 12:47pm
Hello
My two entries for today below

(update: closed GBPJPY for 30p)
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(update: closed EURCAD for 20p)
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Those little people in my head at work
  • #1,412
  • Dec 20, 2017 9:33am Dec 20, 2017 9:33am
USDCAD

Quoting Yoki
Hello everyone, Here's a potential trade I think is pretty simple for USD/CAD. I know I said in a few posts back I was not doing WCC analysis, but I read a bit more about them and I saw this opportunity so I thought I'd share it anyways. As strat pointed out in a previous post, the pair is currently working on it's 8th week being trapped inside the WCC (delineated by the dashed blue lines). So, on my data, there's a SS at the WCC resistance on the daily. Enter short 10 pips below low of SS candle. TP at the support level I have drawn at around 1.268....
Well you are now well and truly on The Path! However, you need to read and understand more about candles because what you have identified as a Shooting Star does not qualify for a Shooting Star - it is just a doji.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,413
  • Dec 20, 2017 9:42am Dec 20, 2017 9:42am
PASR

Quoting Chrobakx
Hello everybody, especially Mr Strat. This is my first comment into this tread and FF. I want to thank you Strat for your two great threads. My forex history going back to january last year, when I read a story about some guy, who was making millions from forex trading( Later i found out it was a scam). I thought, if he can make it, I can make it as well. I started reading online courses and books and after two months I opened an live account with 100 pounds, then I added another 900 pounds. I almost lost them in one month. Then I started trading...
Welcome Martin and congratulations on taking a logical and steady approach to learning how to trade. Whether you know it or not, you are steps ahead of others trying to do the same thing. While others jump in half way through and look for short cuts, you have the common sense and logic to know there is only ONE PLACE to start - THE BEGINNING!

Make sure you read and understand my "old" original thread first and then continue on this one asking any questions you wish.

Welcome to "The Path" and your English is good so do not apologise for that.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,414
  • Edited 9:57am Dec 20, 2017 9:43am | Edited 9:57am
Quoting strat
USDCAD {quote} Well you are now well and truly on The Path! However, you need to read and understand more about candles because what you have identified as a Shooting Star does not qualify for a Shooting Star - it is just a doji.
Thanks strat! A doji? I was talking about the second candle from the right on my chart.
  • #1,415
  • Dec 20, 2017 9:53am Dec 20, 2017 9:53am
Quoting bistolis
Hello My two entries for today below (update: closed GBPJPY for 30p) {image} (update: closed EURCAD for 20p) {image} Those little people in my head at work
Thank you for posting your trades. Let's see if we can help you make better entries.

So, if you are trading M15 then your Big Boss is H4, your Boss is H1 and your Worker is M15. Did you check and evaluate these before trading? Did you have a PLAN?

GBPJPY
Why did you choose this pair?

Had I taken this trade, I would have taken profit as soon as I saw that Shooting Star

EURCAD
Why did you choose this pair?

I can't see your entry or exit but I would not have traded this pair because it is TOPPING and going SIDEWAYS (consolidation) in some sort of correction.

Your Little People are giving you HELL because THEY know you should not be in those trades.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,416
  • Edited 12:28pm Dec 20, 2017 9:55am | Edited 12:28pm
USDCAD

Quoting Yoki
{quote} Thanks strat! A doji? I was talking about the second candle from the right on my chart.
Yes, but it is NOT a Shooting Star. At best, it could be a BOND Shooting Star but for me, its a doji.

Compare what you think is a Shooting Star to a REAL Shooting Star on bistolis's GBPJPY chart
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,417
  • Dec 20, 2017 10:03am Dec 20, 2017 10:03am
Quoting strat
{quote} Thank you for posting your trades. Let's see if we can help you make better entries. So, if you are trading M15 then your Big Boss is H4, your Boss is H1 and your Worker is M15. Did you check and evaluate these before trading? Did you have a PLAN? GBPJPY Why did you choose this pair? Had I taken this trade, I would have taken profit as soon as I saw that Shooting Star EURCAD Why did you choose this pair? I can't see your entry or exit but I would not have traded this pair because it is TOPPING and going SIDEWAYS (consolidation) in some sort...
EURCAD was a mistake and I was always doubting after I put the trade.

on GBPJPY I decided to enter on the blue arrow and exited at the red arrow
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I was thinking that I should trade in the direction of H4, and to be honest I disregarded the H1 candles at that point

EDIT: I am taking screenshots right after I open the trades to have a more "realistic" view when I am reviewing those trades later. To have a picture of what it was really like at the right edge of the chart
  • #1,418
  • Dec 20, 2017 10:08am Dec 20, 2017 10:08am
Quoting strat
USDCAD {quote} Yes, but it is NOT a Shooting Star. At best, it could be a BOND Shooting Star but for me. its a doji. Compare what you think is a Shooting Star to a REAL Shooting Star on bistolis's GBPJPY chart
Okay I see. His chart shows a SS during an uptrend and formed at the top. The doji candle on my chart is not a SS because it happened during sideways action. And not right at the end of the uptrend.
  • #1,419
  • Dec 20, 2017 11:03am Dec 20, 2017 11:03am
EURCAD & JPY

Quoting bistolis
{quote} EURCAD was a mistake and I was always doubting after I put the trade. on GBPJPY I decided to enter on the blue arrow and exited at the red arrow {image} I was thinking that I should trade in the direction of H4, and to be honest I disregarded the H1 candles at that point EDIT: I am taking screenshots right after I open the trades to have a more "realistic" view when I am reviewing those trades later. To have a picture of what it was really like at the right edge of the chart
EURCAD was a mistake and I was always doubting after I put the trade.

Did you take note of what I have on my template?

Attached Image


If you have any doubts or second thoughts on a trade then GET OUT IMMEDIATELY!

I was thinking that I should trade in the direction of H4

""If"" you are trading M15 then there is NO thinking to be done, H4 is THE BIG BOSS and IS what you follow!

I disregarded the H1 candles

WHAT? If you did this then you are nothing but a rank amateur! This is like ignoring the speed limits on highways and wondering why you always get speeding tickets!

I really doubt you had a PLAN at all

To trade M15 you MUST be aware of where PRICE is on the daily, you MUST study PASR on H4 and draw the support and resistance levels, you MUST study PASR on H1 and draw the support and resistance levels, and finally,you MUST study PASR on M15 and draw the support and resistance levels and fine tune the levels from H4 and H1.

What are those levels on your chart? Are they from an indicator? If so, GET RID OF THEM and USE the levels from your PRICE chart. They are a distraction to me and I know what I am doing! The only indicator you should have on your chart working in the background is for your moving averages - NOTHING ELSE!

On GBPJPY, if you really entered on the blue arrow and took profit at the red arrow, then you did very good. There were another 3 LOW RISK entries before the blue arrow if you were at your computer.

Did you have a PLAN?
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,420
  • Edited 11:29am Dec 20, 2017 11:18am | Edited 11:29am
Shooting Star

Quoting Yoki
{quote} Okay I see. His chart shows a SS during an uptrend and formed at the top. The doji candle on my chart is not a SS because it happened during sideways action. And not right at the end of the uptrend.
Good!

A Shooting Star makes a new high attempting to reach the next resistance area but fails to CLOSE anywhere near it. Additionally, the real body makes very little or no progress in the bullish direction and is small in comparison to the wick.

What makes it a Shooting Star is the long wick and the failed attempt at closing near the new high.

Attached Image


It is very rare to SEE a Shooting Star and Hammer in a sideways (consolidation) range since the Big Boys have no defined trading direction at this point and PRICE is just drifting from the actions of retail traders. If you do SEE a Shooting Star or Hammer with their tails/wicks projecting beyond the specified trading range then take note as that could be the final push.
15 YEARS OF PASR ON FOREX FACTORY!
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