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Strat's PASR Long Term, Stress Free Trading

  • #2,901
  • Mar 10, 2018 4:12am Mar 10, 2018 4:12am
hello
And another one on the daily this time?

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  • #2,902
  • Mar 10, 2018 7:50am Mar 10, 2018 7:50am
I wanted to share my trading week results so far, as I mentioned earlier, I'm working on psychological side of trading much more now and I feel much more confident now with my trades, even though they might not be the best entries or exits. But they're profitable, so I need to continue working to be able to SEE the best ones out there.

NZD/USD: Ranging pair. It wasn't the best trade but engulfing bullish candle from Strat Shadow support and WCC bottom looked like a nice trade. TP was at bolded red Big Boss resistance. Got out with 53 pips.

AUD/JPY: Ranging pair. I think I could've entered on hammer candle on 5th of March but I played it safe and entered on 6th. I think that's what price action was telling me at Big Boss resistance level. 72 pips, trade still open.
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  • #2,903
  • Mar 10, 2018 5:01pm Mar 10, 2018 5:01pm
Alright this week I'll be covering off AUD/NZD.

BB: Ranging in a narrowing range, with the last few months down.

B: Closing inside a WCC for the last 3 weeks below the strat shadow. This week closed with no real upper wick.

W: Last candle of the week closed as a bullish engulfing from the bottom of the wcc. Not much room to run until resistance.

All three time frames are below the strat shadow, but with it ranging in a narrow range I am not keen on taking any trades.
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  • #2,904
  • Mar 10, 2018 5:28pm Mar 10, 2018 5:28pm
Quoting axecap
{quote} Can i ask why?
(its all just one persons opinion)

Take a look at the daily chart. We have a bull on Monday and a bear on Thursday. Aggressively I would buy on market open, because bulls have more fuel right now, but it's always better to wait who will win over this battle so you could enter the market with higher probability. So the trading idea: wait for the resistance level breakout and then buy
  • #2,905
  • Mar 11, 2018 1:38am Mar 11, 2018 1:38am
Dear Mr Strat and all

Greetings and thank you for any thoughts concerning below.

Monthly is in an uptrend but the current bar with 19 days to go has a large wick.
Weekly has just completed a shooting star. (real body at the end of trading range, upper wick two times body, tiny lower wick,
Daily an engulfing candle after a bullish bar with long wick which had touched resistance at 1.61 which hasnt been gone over since 2009.

I put a sell order at 15 pips below the engulfing candles close. I put a stop loss above the swing high. The order got filled while I was at work Friday night.

I did this after a bit of sleep deprivation due to work. ( I do shifts night and day). Now I look at it with a rested mind although the price has gone bearish I am second guessing myself on where the take profit should be I may put it down to the monthly support level I estimated of 1.534. The profit/loss set up dosnt look too cheery where the t/p is at present. Also I am not going with the trend but hoping with a sleep befuddled brain that its all turning down which dosnt sound right.

The question I have is has my basic analysis been at least vaguely correct.

Any feedback would be greatly appreciated. I really mean that, this thread and the time you take to read consider and answer peoples questions is such a great resource thank you very much.
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  • #2,906
  • Mar 11, 2018 3:11am Mar 11, 2018 3:11am
Hi fattystick

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I did not take this counter trend trade because of the risk and reward ratio and if I did then my SL should be at break-even by now.
TP red line.

The Shooting Star on 7th of March telling us the Big Boy has taking profit at strong resistance but its still to early to tell if this down swing is profit taking or trend change.
  • #2,907
  • Mar 11, 2018 3:45am Mar 11, 2018 3:45am
Hi, I have read the PDF and am slowly making my way through the thread. Can anyone tell me how I get the coloured indicator that everyone seems to have?. I loaded up the MA ribbon but it doesn't look like the charts I see on here where the red and green to right up to the candles.
Thanks to anyone who can help me.
  • #2,908
  • Mar 11, 2018 5:03am Mar 11, 2018 5:03am
Hi Strat.

I took a trade this week on the daily on EUR/AUD which I'd like your feedback on.
Black lines - Monthly support
Red lines - Weekly Control Candle
Big Boss - Has been ranging for the last 4 years but recently been in a short uptrend.
Boss - Been in an uptrend since April. Last weeks high was a close resistance from Nov 2015 which it seemed to reject.
Worker - On Wednesday I saw a BEEB which hit the monthly resistance and also closed below what was last weeks resistance. Now a confirmed weekly control candle (but I didn't know that at the time obviously).

I took the trade as price moved lower from the BEEB off monthly resistance.
So far so good and 170 pips in profit. First target to please the little people is at the weekly control candle support.
Weekly candle has closed inside last weeks so no confirmation of the reversal yet.

This is a counter trend trade and more risky as I am anticipating the reversal off monthly resistance so after 2 days I have moved my stop to BE.
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Study enough and it all starts looking like the Matrix...
  • #2,909
  • Mar 11, 2018 10:08am Mar 11, 2018 10:08am
Quoting caledonia
Hi, I have read the PDF and am slowly making my way through the thread. Can anyone tell me how I get the coloured indicator that everyone seems to have?. I loaded up the MA ribbon but it doesn't look like the charts I see on here where the red and green to right up to the candles. Thanks to anyone who can help me.
Strat doesn't like short cut, he prefer you going through the 2 threads of his, and work yourself up through the ladder, which is my belief too, but anyway if this will helps fasten your progress here, this is the settings:

Go to inputs and change this settings to:
1,
1,
0,
72,
1,
0.

Happy Weekend,
Yomi.
Time always comes before price
  • #2,910
  • Edited 5:02pm Mar 11, 2018 10:35am | Edited 5:02pm
Quoting Rub
Strat do you have any stuff to help with jumping in too early? I've reviewed posts in the old thread I bookmarked, but I'm interested if you've got something a bit more condensed and to the point.
You should only take a trade when you SEE a trade - meaning that all PASR conditions must be met. If the conditions are not right/all there - don't trade. It is all part of DISCIPLINE and TRADING PSYCHOLOGY.

Remember - it is better to be wishing you were in a trade instead of being in a trade wishing you were out of it.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,911
  • Mar 11, 2018 10:36am Mar 11, 2018 10:36am
Quoting bistolis
thanks strat {image} Isnt that a swing trap pattern? {file}
Yes
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,912
  • Mar 11, 2018 10:38am Mar 11, 2018 10:38am
Quoting bistolis
hello And another one on the daily this time? {image}
I don't see that one
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,913
  • Mar 11, 2018 10:40am Mar 11, 2018 10:40am
NZDUSD & AUDJPY

Quoting Svolacius
I wanted to share my trading week results so far, as I mentioned earlier, I'm working on psychological side of trading much more now and I feel much more confident now with my trades, even though they might not be the best entries or exits. But they're profitable, so I need to continue working to be able to SEE the best ones out there. NZD/USD: Ranging pair. It wasn't the best trade but engulfing bullish candle from Strat Shadow support and WCC bottom looked like a nice trade. TP was at bolded red Big Boss resistance. Got out with 53 pips. AUD/JPY:...
Good job and learning Basic PASR first - even better!
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,914
  • Mar 11, 2018 10:44am Mar 11, 2018 10:44am
AUDNZD

Quoting Rub
Alright this week I'll be covering off AUD/NZD. BB: Ranging in a narrowing range, with the last few months down. B: Closing inside a WCC for the last 3 weeks below the strat shadow. This week closed with no real upper wick. W: Last candle of the week closed as a bullish engulfing from the bottom of the wcc. Not much room to run until resistance. All three time frames are below the strat shadow, but with it ranging in a narrow range I am not keen on taking any trades. {image} {image} {image}
ranging in a narrow range I am not keen on taking any trades.

Good, there is a lot of stiff resistance above PRICE on the Boss and Worker so it is best to sit this one out
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,915
  • Mar 11, 2018 10:49am Mar 11, 2018 10:49am
EURCAD

Quoting fattystick
Dear Mr Strat and all Greetings and thank you for any thoughts concerning below. Monthly is in an uptrend but the current bar with 19 days to go has a large wick. Weekly has just completed a shooting star. (real body at the end of trading range, upper wick two times body, tiny lower wick, Daily an engulfing candle after a bullish bar with long wick which had touched resistance at 1.61 which hasnt been gone over since 2009. I put a sell order at 15 pips below the engulfing candles close. I put a stop loss above the swing high. The order got filled...
I agree with Jason's (swiftman) comments.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,916
  • Mar 11, 2018 10:50am Mar 11, 2018 10:50am
EURCAD

Quoting swiftman
Hi fattystick {image} I did not take this counter trend trade because of the risk and reward ratio and if I did then my SL should be at break-even by now. TP red line. The Shooting Star on 7th of March telling us the Big Boy has taking profit at strong resistance but its still to early to tell if this down swing is profit taking or trend change.
Thanks, Jason
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,917
  • Mar 11, 2018 10:56am Mar 11, 2018 10:56am
PASR

Quoting caledonia
Hi, I have read the PDF and am slowly making my way through the thread. Can anyone tell me how I get the coloured indicator that everyone seems to have?. I loaded up the MA ribbon but it doesn't look like the charts I see on here where the red and green to right up to the candles. Thanks to anyone who can help me.
That PDF is a SUMMARY only prepared by someone else and does NOT replace starting at Post 1 on both my threads.

I loaded up the MA ribbon

This shows you have NO CLUE what PASR is.

Thanks to anyone who can help me

There is only one person who can help you and he is the one you see staring back at you when you look in the mirror

Maybe you should go back to Indicator Land with:
Attached Image
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,918
  • Mar 11, 2018 2:18pm Mar 11, 2018 2:18pm
Quoting fxrabbi
{quote} Strat doesn't like short cut, he prefer you going through the 2 threads of his, and work yourself up through the ladder, which is my belief too, but anyway if this will helps fasten your progress here, this is the settings: Go to inputs and change this settings to: 1, 1, 0, 72, 1, 0. Happy Weekend, Yomi.
Thank you very much for your kind reply. I don't want a short cut, actually I have started reading the thread through from the start and I am finding it very informative. I was just seeing everyone with these green and red shadows but couldn't manage to find exactly how to get them on my chart.
  • #2,919
  • Edited 5:13pm Mar 11, 2018 2:45pm | Edited 5:13pm
Quoting strat
PASR {quote} That PDF is a SUMMARY only prepared by someone else and does NOT replace starting at Post 1 on both my threads. I loaded up the MA ribbon This shows you have NO CLUE what PASR is. Thanks to anyone who can help me There is only one person who can help you and he is the one you see staring back at you when you look in the mirror Maybe you should go back to Indicator Land with: {image}
Thanks to one of the other contributors to this thread I have the answer to my question.

I will continue read and work my way through this thread ( no skimming ) and hopefully one day if I ever post on here again will get a little more respectful reply from you. Everyone has to start somewhere. Actually I found out about your thread from the so called Indicator Land you suggest I go back to. It may surprise you to know that the Indicator Land people also use price action at support and resistance and even the big round numbers.
By reading as much as I can and studying charts and trades of others I am trying to help myself and to develop a strategy and trading plan that works for me. It's thanks to people like your self, and indeed the people in what you call Indicator land, that people like me have some modicum of chance of going from knowing nothing to actually trading with success.

Thank you for taking the time out of day to reply to me.
  • #2,920
  • Edited 5:19pm Mar 11, 2018 3:55pm | Edited 5:19pm
Quoting strat
GBPJPY PRICE getting ready to turn into our 2 higher time frames {image}
Strat,

Can you please help me make better sense of that because GBPJPY is a pair I have been watching all week and I was maybe over-analyzing the situation:

Big Boss: Strong BEOB in February, cancelling three months of uptrend. That leads me to believe that the price may want to retest the 140 BRN
Boss: Downtrend started 4 weeks ago, this week's candle entrapped within last week's BEOB
Worker: any buy would be a countertrend trade in a bearish market with strong intent given PA on Boss and Big Boss. To be more specific:
1. BUOB but closed below Boss resistance - I didn't even try to buy in a countretrend
2. SS closed below Boss resistance - I took a sell trade below the low of the SS on the following day
3. BUOB closed above Boss resistance, SL still not touched
4. BUOB closed above resistance and price touched my SL although the downward movement is still intact on the worker's strat shadow

You seem to hint at an uptrend on higher timeframes, maybe targeting the 150 region which is the next Weekly resistance, but it seems to me that we are better off waiting for the worker to turn and be in harmony with higher timeframes from an RR point of view.

Can you please help me understand what I am looking at wrong, if I ever am?
Thanks

EDIT: 2 wasn't really a SS per se, I focused on the Boss resistance but maybe I was too hasty
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