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Strat's PASR Long Term, Stress Free Trading

  • #2,921
  • Edited 5:42pm Mar 11, 2018 4:11pm | Edited 5:42pm
AUDUSD

Big Boss: no clear message for me based on the last bars, but I note that EMA20 served as support
Boss: Price still in the WCC since week of feb 5, price closed above the Strat Shadow with a BUOB (irrelevant, but just noting)
Worker: the Hammer on March 5 was probably the better entry point but the price closed Friday with a BUOB above the Strat Shadow

I will put a buy order above the close of the last worker, first target the high-end of the WCC, second target the weekly resistance in the 0.81 region
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  • #2,922
  • Mar 11, 2018 5:18pm Mar 11, 2018 5:18pm
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 for the clarity.

Cheers
Michael
  • #2,923
  • Mar 11, 2018 5:22pm Mar 11, 2018 5:22pm
EURAUD

Quoting samsonwebdes
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...
Why do you have all those levels on each chart? Did you read Post 2784? I know what I'm doing and all those levels would confuse the bejabers out of me.

Boss - Last weeks high was a close resistance from Nov 2015 which it seemed to reject.

PRICE is rejected by strong resistance from January 2014, August, September, October 2015, January, February 2016, November, December 2017 and February 2018.

Good analysis and you recognised the RISK in counter trend trading. I used to be in to selling tops and buying bottoms counter trend against the trend until I found it was not consistently profitable. Now I prefer to WAIT for PRICE to turn back into the trend and give me STRESS FREE trades.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,924
  • Mar 11, 2018 5:46pm Mar 11, 2018 5:46pm
GBPJPY

Quoting darko2010
{quote} 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...
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

Why not a test of BRN 130?

2. SS closed below Boss resistance

There is NO SHOOTING STAR!! I have told you previously to learn your candlesticks plus I have posted many examples in my "old" original thread

I took a sell trade below the low of the SS on the following day

And you took a LOSS which is what happens when you don't know your candlesticks!

3. BUOB closed above Boss resistance, SL still not touched

Not on my data! If your Stop Loss was above what you wrongly thought was a Shooting Star you would have been hit on Friday, March 09, 2018

the downward movement is still intact on the worker's strat shadow

PRICE is held by Strat Shadow resistance

You seem to hint at an uptrend on higher timeframes

Really? When the Big Boss and Boss are at resistance?

but it seems to me that we are better off waiting for the worker to turn and be in harmony with higher timeframes

This called The Power of Time Frames in PASR
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,925
  • Edited 6:14pm Mar 11, 2018 6:00pm | Edited 6:14pm
Quoting strat
GBPJPY {quote} 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 Why not a test of BRN 130? 2. SS closed below Boss resistance There is NO SHOOTING STAR!! I have told you previously to learn your candlesticks plus I have posted many examples in my "old" original thread I took a sell trade below the low of the SS on the following day And you took a LOSS which is what happens when you don't know your candlesticks! 3. BUOB closed above Boss resistance, SL still...
EDIT: I take ownership of my shortcomings, so I don't delete my posts. I just realized all the answers I needed were on your initial chart. No need to answer my post. Thanks Strat

Strat,

I edited my previous post on GJ before your reply as I also realized there was no shooting star. It got hit on Friday indeed. Paper loss fyi.
But why would your mention GJ after the BUOB on the worker above Boss resistance even though the trend call to wait for a PA in the direction of the Boss and Big Boss is something that puzzles me and which motivated my initial post. Would you care to explain the timing of your post?
  • #2,926
  • Mar 11, 2018 6:00pm Mar 11, 2018 6:00pm
PASR

Quoting caledonia
{quote} 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...
I ONLY respect those who put in the hard work to READ, LEARN and UNDERSTAND in the logical and systematic way as laid out in both threads.

From Post 1 on this thread:

I will help all those who are GENUINELY interested in trading for a living but will ignore all those looking for shortcuts or who will not READ and UNDERSTAND and PRACTICE the strategy.

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.

GET REAL! They are FOOLING themselves if they think for one second they are using PRICE ACTION. How can they use PRICE ACTION when they use USELESS Heiken ashi candles which show nothing closely related to the PRICE action of the Big Boys? If they were using PRICE ACTION they would have NO USE for LAGGING squiggly lines below the PRICE chart. There are only 2 traders on there who use PRICE ACTION (The Cableguy and Divergence) and they are outsiders.

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You never answered how your Live Account demo is doing
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,927
  • Edited Mar 12, 2018 6:42am Mar 11, 2018 6:29pm | Edited Mar 12, 2018 6:42am
Goodness Mr Stat give a girl a break. You do not know me but you presume to know what knowledge I have. Unless your are a mind reader you have know idea what I have read, learned and understood. I read a lot on this web site and do not post much, as I'm sure you are aware, simply because I don't have the experience and I'm not qualified. However what I do know is this. No way is the right way for everyone. What works for some traders is a disaster for others. You seem to think your way is the right and only way. Well that is your prerogative and I applaud you for being such a successful trader hence they reason why I feel your thread is worth taking some of my precious time to read. Wouldn't it have been nicer to welcome me to your thread and thank me for my interest rather than going at me guns blazing. I'm not sure why you feel such animosity towards some one who asks a simple question. I don't see how that can be conceived as looking for a short cut. Maybe you just had a bad day.
Any way thanks very much for your input as I'm sure you have much more important things to talk about than bother with little old me.
  • #2,928
  • Mar 11, 2018 9:12pm Mar 11, 2018 9:12pm
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Perspective is more valuable than precision
  • #2,929
  • Mar 11, 2018 10:34pm Mar 11, 2018 10:34pm
New T-0039 AUDUSD Long Trade

Big Boss:
The Dominant trend is still UP but price is still inside Strat Shadow.
Boss:
BUEB at strong support and Strat Shadow is acting as dynamic support. Price is at middle of the WCC.
Worker:
Bullish Strat Saddle with Strat Shadow flat. Closed above down trend line.

Trading Plan:
Tranche Size: 3
Entry: At market price
SL: Below WCC low
TP1: ATR(5) = 66 pips
TP2: Last Worker's swing high at 0.7980
TP3: Highest close of Last Boss's swing high at 0.8100
SL will be move to break-even when TP2 is reached.

Side Note:
Worker and Big Boss are in harmony but it's against the Big Boss therefore the chance of price reaching TP3 is low.
Price at middle of WCC.
Last time when price at this level it took 12 days in a strong UP trend to reach 0.8100.

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Worker

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Boss

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Big Boss
  • #2,930
  • Mar 11, 2018 11:54pm Mar 11, 2018 11:54pm
New T-0040 GBPAUD Short Trade

Big Boss:
March BEEB candle rejected by resistance and the last month candle retesting resistance. BRN 1.8000

Boss:
BEEOB candle rejected by Boss resistance. Price were reject by Boss resistance three times. Closed below 200 ema. Price at middle of WCC.

Worker:
Price closed below 20 ema. All MAs are red expect 63.

Trading Plan:
Tranche Size: 3
Entry: At market price
SL: Above Boss resistance. 1.7910
TP1: BRN 1.7505, 102 pips. Current ATR(5) = 128 pips
TP2: Bottom of WCC and Boss resistance. 1.7360
TP3: Big Boss last swing low. 1.7119
SL will be move to break-even when TP2 is reached.

Side Note:
Worker and Big Boss are in harmony and Big Boss indicate its about to turn.
Price at middle of WCC.

Worker
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Boss
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Big Boss
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  • #2,931
  • Mar 12, 2018 2:37am Mar 12, 2018 2:37am
Quoting strat
EURAUD {quote} Why do you have all those levels on each chart? Did you read Post 2784? I know what I'm doing and all those levels would confuse the bejabers out of me. Boss - Last weeks high was a close resistance from Nov 2015 which it seemed to reject. PRICE is rejected by strong resistance from January 2014, August, September, October 2015, January, February 2016, November, December 2017 and February 2018. Good analysis and you recognised the RISK in counter trend trading. I used to be in to selling tops and buying bottoms counter trend against...
Thaks for the feedback Strat. I actually saw this trade rather than having to look for it for the first time this week. I know it's counter trend and not ideal but it really stuck out as a good example of BEEB at resistance.

Why do you have all those levels on each chart? Did you read Post 2784? I know what I'm doing and all those levels would confuse the bejabers out of me.
I've re-read that post and understand I think.
Only need the BB S/R lines unless something else jumps out as important over time on the boss after adjusting the BB lines.
I only have those red lines on my chart as they are the WCC and the top one is in the pretty much same area as the monthly resistance (which game me a little confluence and more confidence in the reversal) and the bottom is the first target (bottom of WCC).
Removed now.

Ideal here is my target to get hit, reverse at the WCC support and bottom of shadow and then put in a nice price action candle to jump in with the trend.
I'll wait to see what price does at that level this week.
Study enough and it all starts looking like the Matrix...
  • #2,932
  • Mar 12, 2018 2:35pm Mar 12, 2018 2:35pm
AUDUSD

Quoting darko2010
AUDUSD Big Boss: no clear message for me based on the last bars, but I note that EMA20 served as support Boss: Price still in the WCC since week of feb 5, price closed above the Strat Shadow with a BUOB (irrelevant, but just noting) Worker: the Hammer on March 5 was probably the better entry point but the price closed Friday with a BUOB above the Strat Shadow I will put a buy order above the close of the last worker, first target the high-end of the WCC, second target the weekly resistance in the 0.81 region {image}
Yes, good. Also see Jason (swiftman)
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,933
  • Mar 12, 2018 2:37pm Mar 12, 2018 2:37pm
GBPJPY

Quoting darko2010
{quote} EDIT: I take ownership of my shortcomings, so I don't delete my posts. I just realized all the answers I needed were on your initial chart. No need to answer my post. Thanks Strat Strat, I edited my previous post on GJ before your reply as I also realized there was no shooting star. It got hit on Friday indeed. Paper loss fyi. But why would your mention GJ after the BUOB on the worker above Boss resistance even though the trend call to wait for a PA in the direction of the Boss and Big Boss is something that puzzles me and which motivated...
I said "getting ready" not it was ready
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,934
  • Mar 12, 2018 2:38pm Mar 12, 2018 2:38pm
AUDUSD

Quoting swiftman
New T-0039 AUDUSD Long Trade Big Boss: The Dominant trend is still UP but price is still inside Strat Shadow. Boss: BUEB at strong support and Strat Shadow is acting as dynamic support. Price is at middle of the WCC. Worker: Bullish Strat Saddle with Strat Shadow flat. Closed above down trend line. Trading Plan: Tranche Size: 3 Entry: At market price SL: Below WCC low TP1: ATR(5) = 66 pips TP2: Last Worker's swing high at 0.7980 TP3: Highest close of Last Boss's swing high at 0.8100 SL will be move to break-even when TP2 is reached. Side Note: Worker...
Good Jason
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,935
  • Mar 12, 2018 2:41pm Mar 12, 2018 2:41pm
GBPAUD

Quoting swiftman
New T-0040 GBPAUD Short Trade Big Boss: March BEEB candle rejected by resistance and the last month candle retesting resistance. BRN 1.8000 Boss: BEEOB candle rejected by Boss resistance. Price were reject by Boss resistance three times. Closed below 200 ema. Price at middle of WCC. Worker: Price closed below 20 ema. All MAs are red expect 63. Trading Plan: Tranche Size: 3 Entry: At market price SL: Above Boss resistance. 1.7910 TP1: BRN 1.7505, 102 pips. Current ATR(5) = 128 pips TP2: Bottom of WCC and Boss resistance. 1.7360 TP3: Big Boss last...
Careful, Jason. PRICE is looking for support on Worker and Boss Strat Shadow
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,936
  • Edited Mar 13, 2018 11:59am Mar 12, 2018 2:53pm | Edited Mar 13, 2018 11:59am
PASR

Quoting caledonia
Goodness Mr Stat give a girl a break. You do not know me but you presume to know what knowledge I have. Unless your are a mind reader you have know idea what I have read, learned and understood. I read a lot on this web site and do not post much, as I'm sure you are aware, simply because I don't have the experience and I'm not qualified. However what I do know is this. No way is the right way for everyone. What works for some traders is a disaster for others. You seem to think your way is the right and only way. Well that is your prerogative and...
I like feisty people - it shows you have determination.

You seem to think your way is the right and only way.

No, it is not the only way. I have trading colleagues with slightly different methods of PASR in fact one posted several posts back. I even have one trading colleague who trades with indicators. What I do know is that my "way" (PASR) has produced many consistently profitable traders who are now trading for a living. I can't speak for the other "ways".

Wouldn't it have been nicer to welcome me to your thread and thank me for my interest rather than going at me guns blazing

Normally yes but not when you jump in half way through the logical and systematic teaching process. This is not a thread for anyone to post their willy nilly comments. Had you read my "old" original thread you would know I have done this many times AND it is done for a reason.

Maybe you just had a bad day.

Oh no, my dear, I only have good and better days!

I'm sure you have much more important things to talk about than bother with little old me.

No, not at all if you want to learn PASR

Welcome to PASR!
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,937
  • Mar 12, 2018 4:08pm Mar 12, 2018 4:08pm
GBPCAD M5 PASR Trend Trading:



1. TP1= 25pips - reached.

2. TP2= 50pips - manually stop with 22.8pips.



Happy Trading,
Yomi.
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Time always comes before price
  • #2,938
  • Mar 12, 2018 5:07pm Mar 12, 2018 5:07pm
Quoting strat
GBPJPY {quote} I said "getting ready" not it was ready
I saw that today. Given how GBP and JPY behaved across all pairs today, GJ was and still is a battlefield with no clear winner.
  • #2,939
  • Mar 12, 2018 6:54pm Mar 12, 2018 6:54pm
Quoting strat
AUDUSD {quote} Yes, good. Also see Jason (swiftman)
Thanks, but I feel I need to better qualify PASR signals. It seems this one was technically correct but the momentum was already spent, or am I not seeing this correctly ?
  • #2,940
  • Mar 12, 2018 6:59pm Mar 12, 2018 6:59pm
Quoting strat
GBPAUD {quote} Careful, Jason. PRICE is looking for support on Worker and Boss Strat Shadow
Thank you for the reply.
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