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  • #3,321
  • Mar 28, 2018 7:51pm Mar 28, 2018 7:51pm
Hi,

Just start a demo account. Can't bother with lower time frame as I can't trade while working my job.

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Month & week of GBPNZD is on up trend. Daily BUEB just happened.

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So a long trade is made. SL slightly below the last low of worker swing, aiming for 1:3. Will exit the trade before TP when there are any bearish PA pattern (only when BEEB, BEOB or a red closed bar after shooting star).

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Did I miss anything from basic PASR?
  • #3,322
  • Mar 28, 2018 11:09pm Mar 28, 2018 11:09pm
Quoting strat
M5 PASR Trend Trading - PST Did you catch these Rufus? {image} {image} {image} {image}

Hi Strat

Again. Thank you for pointing these out to me.

Did take this entry on the GBPAUD but was stopped out. Obviously placed it to tight, especially with the larger spread.

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But this got me to thinking about stops and the Strat Shadow. I don't recall if I have read much here about stops and the PASR 5m. I usually place them beyond the most resent swing high or low. But with 5m PASR, would it be better to take a smaller position and place it just outside the STRAT Shadow. What I was thinking. Until the position hits its target, in the case of this GBPAUD trade 1hr support. The STRAT shadow is in play until PA says otherwise or shadow disappears. So my thinking place the stop outside the shadow. Then maybe tighten it as the target approaches.

Another thought. Somewhere in the threads there was also a 50 EMA on the charts. My thinking was, maybe use the 50 as an area for stops.

Red line on chart.
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Some thoughts today while I was setting some cabinets in a massive and beautiful home on Puget Sound.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,323
  • Mar 28, 2018 11:11pm Mar 28, 2018 11:11pm
Quoting huatzhi
Hi, Just start a demo account. Can't bother with lower time frame as I can't trade while working my job. {image} Month & week of GBPNZD is on up trend. Daily BUEB just happened. {image} So a long trade is made. SL slightly below the last low of worker swing, aiming for 1:3. Will exit the trade before TP when there are any bearish PA pattern (only when BEEB, BEOB or a red closed bar after shooting star). {image} Did I miss anything from basic PASR?
Hi
For me there is a resistance to be broken around 1.9550 before entering long (WCC)
  • #3,324
  • Mar 28, 2018 11:34pm Mar 28, 2018 11:34pm
Screenshot taken just before I left for work.

While I'm not keen on trading against the last BB down bar, I see many of the yen pairs as in an interesting place. Will they continue down, or break back up?
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  • #3,325
  • Mar 29, 2018 12:10am Mar 29, 2018 12:10am
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  • #3,326
  • Mar 29, 2018 3:32am Mar 29, 2018 3:32am
Quoting Money Magnet
{quote} your balls are the collective size of 10 people and you have a lot of support
Hello Money Magnet


Good to see you back on this thread - even if is is just to "take the proverbial"!

Nevertheless, your post does warrant a reply:

1. Re: "your balls are the collective size of 10 people " Well, thank you for the compliment wrt the size of my "kahunas".. however, we both know that the fastest way to a blown account is through a big ego. So, no, nothing to do with alpha-male machismo, but, you have clearly identified the "x 10" factor which is important - All those traders with money on (especially over the weekend) who can't sleep for worry usually do have a position size ten times what it should be!!!
So, seems my kahunas are not as big as you might think! - i am prudent -very prudent - wrt position size.

2. "and you have a lot of support" - How did you know I have a "rich great-uncle" who will bail me out, refloat my account etc... when I get into trouble?"

Or, perchance, MM was referring to potential support written on the (Higher Time Frame) charts? The sort of concept you might pick up on by following Strat's advice: "studying thousands and thousands of charts"?

Anyone care to "develop" MM's one liner?
  • #3,327
  • Mar 29, 2018 3:38am Mar 29, 2018 3:38am
With a public holiday tomorrow and the london session going, I had a look at the 5 minute charts while I wait for my night take off. Took this, then saw the news for GBP on the front page of forexfactory so I closed it for a small profit. I had support at 1.9460, and it had to get through the round number to get there.

Think I like day charts better at the moment. Much more time to think through what I'm doing and I don't have to watch the bloody thing, but I can see the use for training your eye on shorter timeframes.

EDIT: Trogger I think it was that there was good price action in the charts you posted. Sellers pushed it down a couple of times, but both times buyers stepped in and bid it up again. I personally don't see the candles I would be confident to take, but I think the story is there if you know how to read it.
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  • #3,328
  • Mar 29, 2018 3:44am Mar 29, 2018 3:44am
Quoting trogger
{quote} Up Where We Belong ??? * And now, for something completely different! Let's start with a 5 min chart (what?! shock/horror - Trogger is posting a 5 - min chart?) Well, actually, I'm going to post a series of 5 min charts, snapped as the "action" unfolded - but only to illustrate a point: After the third of my "non-ambitious targets" (in my last post on this pair, above) was hit, price underwent an orderly decline to (drum roll please!) 0.7198. I happened to turn my computer on this evening, a few minutes...

I still get the same old feeling...

Say, haven't we been here before!?

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]

For goodness sake Mr Kiwi - Make up your mind. This is ridiculous!
  • #3,329
  • Mar 29, 2018 4:05am Mar 29, 2018 4:05am
Quoting BeyondTheSea
{quote} Thanks Trogger, part of my training is to enter my NZD trades in the morning and then open up FF to read where you are going and mark myself!! Also looking at AUDNZD, seems like a nice leisurely stroll after the pub to 1.04...

1. The Markets are open in the morning?

2. you could end up in hell in a handbasket - if you follow me!

3. Meant to post earlier, pointing out a rising trend line of support on the HIGHER TIME FRAMES - not so sure we will see 1.04xx this time.

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I have been an active buyer last couple of days.
  • #3,330
  • Mar 29, 2018 6:00am Mar 29, 2018 6:00am
Quoting trogger
“Life turns on a dime.” - but whadabout the Shinkansen express? NZD/JPY I don't get as much time for this thread as I would like, so not everything I would like to post makes it. I was going to post an analysis/rationale of the trade below, but time and other pressures meant I didn't get round to it over the weekend. Instead, I'll set it as a "Quizz". On Friday, I entered this trade. Multiple positions, various targets: ( red arrow shows entries, snapped monday morning) {image} and again monday afternoon: {image} and again today (tuesday afternoon,...
Lines in the Sand

Sometimes
For a moment of bliss (read: Trade has moved in my direction!)
In the passion
We're craving (read: anticipated $$$$$$!!!)
There's a message we miss..

Ok

So, on the worker I entered here:

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Let's go to the Boss, put horizontal lines through the high and low of last week:

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Now, let's go back to the worker and have another look:

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Ya don't say?

All of last week's candle retraced on Monday alone?


Let's put a horizontal line through the high of Friday's entry candle:

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Now, let's re-examine the worker:

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Ya don't say?

Tuesday's candle is a retracement that stops bang on the high of friday's candle?

Let's look a bit longer:

Ya don't say?
Wednesday's candle is a retracement of Tuesday's retracement! Its close is bang on the high of last week's candle?

Ya don't say?

Sooo... what about Thursday's candle?
Well, it hasn't closed yet, but it sure looks (at the moment) like...

So.. will we have a control candle?

Wait and see!

But, in the meantime, might be worth following those lines all the way back in time. MUCH more fun than watching 5 min charts!

Night all.
  • #3,331
  • Edited 6:34am Mar 29, 2018 6:22am | Edited 6:34am
Quoting maxleecool
Hi, Another PASR trade on USD JPY, as always views are welcome, and will help me gain more knowledge and experience in my journey of PA. BB : Trend is down, and 20 and 63 ma are showing curve downwards. B: MA Crossover had occurred, 20 is below 63 and are widening showing the strength of the downwards trend. This week price is trying to give a weak pullback (candle still not closed ). Overall trend is down . W: Price approaches the Strat shadow on 27 Mar Candle and we can see rejection from 20 MA. This also confluence with the resistance level of...

Oh, and one more post from me.

I read this and was going to go to press, but noted that Maxleecool's entry had not been triggered (good disciplined proposed entry saved you!).

Instead, I dedicate these trades to you Mr Max:

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I see that Strat pointed out where you were going wrong in a post a few hours after your original post.

ALWAYS look to the BIG BOSS and BOSS for support and resistance levels first.

cheers.
  • #3,332
  • Mar 29, 2018 6:48am Mar 29, 2018 6:48am
GBPUSD PASR 5

I took this trade this morning

Entry :
- BEEB / in strat shadow / at resistance

SL :
- above potential swing high

TP :
- RRR = 2, before next support

Result :
- Stopped out

Didn't like rejections (wicks), but didn't close the trade...

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  • #3,333
  • Mar 29, 2018 7:38am Mar 29, 2018 7:38am
Quoting Bestof27
GBPUSD PASR 5 I took this trade this morning Entry : - BEEB / in strat shadow / at resistance SL : - above potential swing high TP : - RRR = 2, before next support Result : - Stopped out Didn't like rejections (wicks), but didn't close the trade... {image}
hi
first you have a big wick on the candle to your left and then alot more wicks, and you let it stop you out instead of closing it at least breakeven
I didnt take a look at H1 / H4 for s/r zones, just my 2 cents that you have plenty of time to just close it without a loss
  • #3,334
  • Mar 29, 2018 7:46am Mar 29, 2018 7:46am
Quoting bistolis
{quote} hi first you have a big wick on the candle to your left and then alot more wicks, and you let it stop you out instead of closing it at least breakeven I didnt take a look at H1 / H4 for s/r zones, just my 2 cents that you have plenty of time to just close it without a loss
Sure, I thought about closing after the second rejection, but didn't ... my mistake
  • #3,335
  • Mar 29, 2018 8:40am Mar 29, 2018 8:40am
So far this morning my 5m charts look like a greased pig on a pogo stick. Good time to drink some more coffee, maybe get in some reading.


My biggest challenge with trading is to trade more with my heart not my head.


Inserted Video



This was the final race for the Triple Crown. Probably the best race in history. Try watching it and keeping a dry eye.


Trainers were bewildered. How could a horse run so fast? The answer came only after the death of Secretariat. When he was autopsied, Secretariat’s heart was found to be larger than the average horse’s. Not just slightly larger, but massively larger. The average Thoroughbred’s heart weighs 8.5 pounds. Secretariat’s weighed 22.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,336
  • Mar 29, 2018 9:55am Mar 29, 2018 9:55am
EURCAD 5M

I have been monitoring EURCAD for a long time...
After the post-GDP jump, I was waiting for the right moment to enter.
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  • #3,337
  • Mar 29, 2018 9:57am Mar 29, 2018 9:57am
Quoting darko2010
EURCAD 5M I have been monitoring EURCAD for a long time... After the post-GDP jump, I was waiting for the right moment to enter. {image}
absolutely well done darko.. superb entry
It's in fear when people show what they truly value.
  • #3,338
  • Mar 29, 2018 10:07am Mar 29, 2018 10:07am
GBPNZD

Quoting huatzhi
Hi, Just start a demo account. Can't bother with lower time frame as I can't trade while working my job. {image} Month & week of GBPNZD is on up trend. Daily BUEB just happened. {image} So a long trade is made. SL slightly below the last low of worker swing, aiming for 1:3. Will exit the trade before TP when there are any bearish PA pattern (only when BEEB, BEOB or a red closed bar after shooting star). {image} Did I miss anything from basic PASR?
Did I miss anything from basic PASR?

Yes, ""SR""

Forget Oanda crappy charts and use MT4
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,339
  • Mar 29, 2018 10:27am Mar 29, 2018 10:27am
GBPAUD

Quoting Rufus
{quote} Hi Strat Again. Thank you for pointing these out to me. Did take this entry on the GBPAUD but was stopped out. Obviously placed it to tight, especially with the larger spread. {image} But this got me to thinking about stops and the Strat Shadow. I don't recall if I have read much here about stops and the PASR 5m. I usually place them beyond the most resent swing high or low. But with 5m PASR, would it be better to take a smaller position and place it just outside the STRAT Shadow. What I was thinking. Until the position hits its target,...
First, you are always going to be riding a horse with 3 legs when your candles do not close at 5pm EST. Look at my charts compared to yours. I have no idea when and where your entry was as I can't figure it out on my charts. I have also marked up 2 entries which are in accordance with MY M5 PASR Trend Trading strategy for PST zone.
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Second, all those wicks and tails on that pair on your chart would have made me run for the nearest saloon in Dodge City!

Third, you are trading before/during/after a news event

Get some proper charts and try those before you do anything else. Then go back and read and learn my posts on M5 and study my charts, fxrabbi charts and BeyondTheSea charts. Then read and learn about the Strat Shadow and how PRICE reacts and behaves around it. When you have done all this, the stops will take care of themselves.

Get some proper charts, SLOW DOWN and exercise PATIENCE to WAIT for the opportunity to present itself.
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,340
  • Mar 29, 2018 10:29am Mar 29, 2018 10:29am
GBPJPY

Quoting Rub
Screenshot taken just before I left for work. While I'm not keen on trading against the last BB down bar, I see many of the yen pairs as in an interesting place. Will they continue down, or break back up? {image}
I see many of the yen pairs as in an interesting place

I must have missed this - please tell us more, Rub!
15 YEARS OF PASR ON FOREX FACTORY!
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