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Strat's PASR Long Term, Stress Free Trading

  • #1,421
  • Edited 11:35am Dec 20, 2017 11:24am | Edited 11:35am
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....
I have been in a short on UC since the 14th of December. My setup candle is the one I marked with the arrow, and it is a BEEB. If the trade is successful, you get a few more pips than me, because your entry is above mine. If not, we get our SLs hit, no big deal, just one of the losses we are comfortable with.
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  • #1,422
  • Dec 20, 2017 11:42am Dec 20, 2017 11:42am
USDCAD

Quoting catalin_eros
{quote} I have been in a short on UC since the 14th of December. My setup candle is the one I marked with the arrow, and it is a BEEB. If the trade is successful, you get a few more pips than me, because your entry is above mine. If not, we get our SLs hit, no big deal, just one of the losses we are comfortable with. {image}
I ""think"" you will both get profits (if you have the patience) as both the Boss and Worker are in some sort of Corrective Wave 4. As yet, this Wave is not complete so PRICE can still wander about within the Weekly Control Candle.

A low risk entry for Wave 5 will be when PRICE closes below the Boss Strat Shadow. A higher risk entry for Wave 5 will be when PRICE closes below the Worker Strat Shadow. This assumes PRICE is following Elliott Wave Theory AND that my interpretation of it is correct.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #1,423
  • Dec 20, 2017 12:39pm Dec 20, 2017 12:39pm
I do study those entries. Many times I get it all wrong
those levels on the chart are previous day's fibs and lows highs and open of day and week

what I meant with disregarding the hourly chart is not that I didnt take a look at it. I thought that it was not showing any reason to not go long.
I always browse through the my pairs (usually GBP crosses) starting with daily charts and then browsing through to the lower frames.

I will try to post more analytical showing all 3 timeframes

Your input is really helpful. thanks alot

PS: I am grateful of your writing style. Not many people are so direct as you and others on this thread.
  • #1,424
  • Dec 20, 2017 1:25pm Dec 20, 2017 1:25pm
Quoting bistolis
I do study those entries. Many times I get it all wrong those levels on the chart are previous day's fibs and lows highs and open of day and week what I meant with disregarding the hourly chart is not that I didnt take a look at it. I thought that it was not showing any reason to not go long. I always browse through the my pairs (usually GBP crosses) starting with daily charts and then browsing through to the lower frames. I will try to post more analytical showing all 3 timeframes Your input is really helpful. thanks alot PS: I am grateful of your...
PS: I am grateful of your writing style. Not many people are so direct as you and others on this thread.

Thank you, that's a first! Most people don't like it and are put off by it - probably because they don't like being told the truth and facing up to facts.

Where I come from we are "blunt" and call a spade a "spade" - you can't take the spots off a leopard!

Hang in there and we will get you in the ranks of consistently profitable traders.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #1,425
  • Dec 20, 2017 4:30pm Dec 20, 2017 4:30pm
Two interesting spots caught my attention and decided to share them - The first one I managed to trade , but the second one I missed. Are these good entry spots? Did anyone else trade them? The bosses were not all in line so I am not sure if these trades would show a profit in the long run.
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  • #1,426
  • Dec 20, 2017 6:25pm Dec 20, 2017 6:25pm
EURUSD & GBPNZD M5

Quoting Forex_Fox
Two interesting spots caught my attention and decided to share them - The first one I managed to trade , but the second one I missed. Are these good entry spots? Did anyone else trade them? The bosses were not all in line so I am not sure if these trades would show a profit in the long run. {image} {image}
What is your strategy for trading M5? It looks to me like you are wandering around M5 pairs with a shotgun and hoping you hit something.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,427
  • Dec 20, 2017 6:30pm Dec 20, 2017 6:30pm
Randy, I see you are STILL searching for the HOLY GRAIL (since 2006) - look in the mirror and you will FIND it!

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15 YEARS OF PASR ON FOREX FACTORY!
  • #1,428
  • Dec 21, 2017 7:51am Dec 21, 2017 7:51am
Quoting strat
EURUSD & GBPNZD M5 {quote} What is your strategy for trading M5? It looks to me like you are wandering around M5 pairs with a shotgun and hoping you hit something.
Hi Strat,

It's early to call it a strat(egy) , since I am still in the process of learning to apply your concepts. Ideally, the higher time frames (monthly, weekly and daily) should all point in the same direction, then I try to find a good entry point on the M5 (hammer, SS, BUEB, BUOB, BEEB, BEOB) - I also take only trades away from the MAs as they act as S/R. I try to trade away from major S/R levels that I pick up from the higher time frames. If everything is not in line I try to go with the immediate trend.

In regards to the choice of currency pairs I was wondering are the more volatile (GBP pairs) more profitable , even though they have a much higher spread in comparison to EUR/USD?
  • #1,429
  • Dec 21, 2017 10:03am Dec 21, 2017 10:03am
Strat,
please check on entry.
https://www.forexfactory.com/attachm...1&d=1513872150
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  • #1,430
  • Dec 21, 2017 11:50am Dec 21, 2017 11:50am
PASR TREND TRADING
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  • #1,431
  • Edited 12:51pm Dec 21, 2017 12:12pm | Edited 12:51pm
M5

Quoting Forex_Fox
{quote} Hi Strat, It's early to call it a strat(egy) , since I am still in the process of learning to apply your concepts. Ideally, the higher time frames (monthly, weekly and daily) should all point in the same direction, then I try to find a good entry point on the M5 (hammer, SS, BUEB, BUOB, BEEB, BEOB) - I also take only trades away from the MAs as they act as S/R. I try to trade away from major S/R levels that I pick up from the higher time frames. If everything is not in line I try to go with the immediate trend. In regards to the choice of...
I suggest you re-read ALL my posts on this thread on M5 along with Saad007's posts. My strategy/method for M5 is VERY SIMPLE and EASY once you are experienced at trading at the hard right edge. Since you are in the London time zone, you should be able to do everything Saad007 does. Make sure you UNDERSTAND the POWER of the Strat Shadow - it is NOT just MAs as you seem to think.

In regards to the choice of currency pairs I was wondering are the more volatile (GBP pairs) more profitable , even though they have a much higher spread in comparison to EUR/USD?

EURUSD is 19th out of 28 on my volatility list and I don't waste margin on it unless it screams "trade me" - I LOAD UP on pairs which MOVE.

If you waste your time worrying about spread on M5 then your opportunity to trade will be lost.

Did you read and UNDERSTAND Post # 1197?

https://www.forexfactory.com/showthr...0#post10567400
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,432
  • Dec 21, 2017 12:24pm Dec 21, 2017 12:24pm
Quoting strat
M5 {quote} I suggest you re-read ALL my posts on this thread on M5 along with Saad007's posts. My strategy/method for M5 is VERY SIMPLE and EASY once you are experienced at trading at the right edge. Since you are in the London time zone, you should be able to do everything Saad007 does. Make sure you UNDERSTAND the POWER of the Strat Shadow - it is NOT just MAs as you seem to think. In regards to the choice of currency pairs I was wondering are the more volatile (GBP pairs) more profitable , even though they have a much higher spread in comparison...
Thanks strat for your work! Where can I find your volatility list ?
  • #1,433
  • Dec 21, 2017 12:30pm Dec 21, 2017 12:30pm
AUDNZD M15

Quoting Frank0
Strat, please check on entry. {image} {image}
Hi Frank, I don't really know what I am checking for you but I will give it a go.

Since you have identified your target, it seems you are trading Basic PASR in which case you should have taken profit on the long candle where PRICE was rejected at your target shown by the long wick.

I don't trade AUDNZD since it is 21st out of 28 on my VOLATILITY list and I might die before it gets to my profit target. Trogger, being in New Zealand, is the WIZ KID on AUS and NZD pairs so I always defer to him on these pairs.

However, had I traded AUDNZD M15, I would have entered as shown and taken profit as described above then re-entered on the next blue arrow and I would have taken profit at the doji between the two resistance levels

I hope this helps and let me know if you need more.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #1,434
  • Dec 21, 2017 12:36pm Dec 21, 2017 12:36pm
Quoting kofix11
{quote} Thanks strat for your work! Where can I find your volatility list ?
Happy to oblige!

Go to Post # 835

https://www.forexfactory.com/showthr...5#post10507055
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,435
  • Dec 21, 2017 12:47pm Dec 21, 2017 12:47pm
Quoting strat
{quote} Happy to oblige! Go to Post # 835 https://www.forexfactory.com/showthr...5#post10507055
Happy too !
  • #1,436
  • Dec 21, 2017 12:57pm Dec 21, 2017 12:57pm
PASR

Kurt, where have you been for the last 8 years?

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15 YEARS OF PASR ON FOREX FACTORY!
  • #1,437
  • Dec 21, 2017 2:01pm Dec 21, 2017 2:01pm
Quoting strat
{quote} Happy to oblige! Go to Post # 835 https://www.forexfactory.com/showthr...5#post10507055
Error 404.....

Can be found on post # 729.


Happy Trading,
Yomi.
Time always comes before price
  • #1,438
  • Dec 21, 2017 2:32pm Dec 21, 2017 2:32pm
Quoting kofix11
{quote} Thanks strat for your work! Where can I find your volatility list ?
This is where we are at the moment.
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  • #1,439
  • Dec 21, 2017 4:20pm Dec 21, 2017 4:20pm
Quoting JackAntigua
{quote} This is where we are at the moment. {image}
Thanks, daily ATR 10 might be interesting for others too. ;-)
  • #1,440
  • Dec 21, 2017 5:03pm Dec 21, 2017 5:03pm
Quoting kofix11
{quote} Thanks strat for your work! Where can I find your volatility list ?
Since you know the volatility list is based on D1 ATR10 and that the volatility changes, why don't you make your own list, because the order of the pairs on that list might have changed, or will change in the future? It has to be updated every day, because the D1 ATR10 value changes.
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