CADJPY Worker
And this is why breaking a WCC is not enough sometimes to motivate an entry...
And this is why breaking a WCC is not enough sometimes to motivate an entry...
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2
Strat's PASR Long Term, Stress Free Trading
- #3,684
- Apr 9, 2018 1:17pm Apr 9, 2018 1:17pm
2 trades for today..
In the second one (USDCAD) I would have to monitor the trade and close it manually. What a missed opportunity!
However I am never completely confident when I take a trade. Sometimes the chart seems full of supports and resistances and the price seems to react only at a FEW of them. It seems that when I identify the levels, there are always too many and I do not know which one is more important than another. Too many levels also affect the R: R and therefore my choice to take the trade. So how can I understand when a level is no longer valid? I do not know if I have explained myself, and I hope it is a doubt or a question that you have asked yourself.
In the second one (USDCAD) I would have to monitor the trade and close it manually. What a missed opportunity!
However I am never completely confident when I take a trade. Sometimes the chart seems full of supports and resistances and the price seems to react only at a FEW of them. It seems that when I identify the levels, there are always too many and I do not know which one is more important than another. Too many levels also affect the R: R and therefore my choice to take the trade. So how can I understand when a level is no longer valid? I do not know if I have explained myself, and I hope it is a doubt or a question that you have asked yourself.
- #3,690
- Apr 9, 2018 3:15pm Apr 9, 2018 3:15pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
CADJPY Worker
I'm sure you mean a ""CLOSE"" above the Weekly Control Candle NOT ""breaking""
But why not? PRICE has found support (so far) on top of the Weekly Control Candle
CADJPY Worker And this is why breaking a WCC is not enough sometimes to motivate an entry... {image}
But why not? PRICE has found support (so far) on top of the Weekly Control Candle
15 YEARS OF PASR ON FOREX FACTORY!
- #3,692
- Apr 9, 2018 3:39pm Apr 9, 2018 3:39pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
EURAUD & USDCAD M5 PASR TREND Trading
Good job, Giannis but remember, you are only at the beginning of your M5 PASR Trend Trading journey. The more hours you trade M5 PASR Trend Trading, the MORE you will UNDERSTAND and the easier it will become.
If you are adding many support and resistance levels then you have not switched OFF Basic PASR trading. We are trading the M5 TREND and NOT from support to support etc. Think about it - if all PRICE did was move from support to resistance it would go NOWHERE and there would be no trading. In a TREND, PRICE CLOSES through support and resistance to get to the Big Boys' target. Also, imagine you are the Big Boy trading - are you looking for 2 pips (Rub) or 100+ pips?. THINK and TRADE like a BIG BOY.
Learn, watch and SEE how PRICE behaves and reacts to the Strat Shadow IN A TREND.
Here are my M5 trading charts for EURAUD and USDCAD
2 trades for today.. In the second one (USDCAD) I would have to monitor the trade and close it manually. What a missed opportunity! {image} {image} However I am never completely confident when I take a trade. Sometimes the chart seems full of supports and resistances and the price seems to react only at a FEW of them. It seems that when I identify the levels, there are always too many and I do not know which one is more important than another. Too many levels also affect the R: R and therefore my choice to take the trade. So how can I understand...
If you are adding many support and resistance levels then you have not switched OFF Basic PASR trading. We are trading the M5 TREND and NOT from support to support etc. Think about it - if all PRICE did was move from support to resistance it would go NOWHERE and there would be no trading. In a TREND, PRICE CLOSES through support and resistance to get to the Big Boys' target. Also, imagine you are the Big Boy trading - are you looking for 2 pips (Rub) or 100+ pips?. THINK and TRADE like a BIG BOY.
Learn, watch and SEE how PRICE behaves and reacts to the Strat Shadow IN A TREND.
Here are my M5 trading charts for EURAUD and USDCAD
15 YEARS OF PASR ON FOREX FACTORY!
- #3,693
- Apr 9, 2018 3:47pm Apr 9, 2018 3:47pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #3,694
- Apr 9, 2018 3:53pm Apr 9, 2018 3:53pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
GBPCAD Boss
Very disappointed that no-one commented on this. I am obviously wasting my time doing these things.
GBPCAD 1998 {image}
15 YEARS OF PASR ON FOREX FACTORY!
- #3,695
- Apr 9, 2018 3:59pm Apr 9, 2018 3:59pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #3,696
- Apr 9, 2018 4:04pm Apr 9, 2018 4:04pm
- Joined Sep 2016 | Status: Inactive | 1,531 Posts
GBPCAD Boss {quote} Very disappointed that no-one commented on this. I am obviously wasting my time doing these things. {image} {image}
{quote} Somehow, I understood wrong. You said that last month was the last target created, and since last month was above this month, I assumed you thought I was in a buy. Sorry for my wrong impression! As for my target, yes, of course I had a TP. It was a hard TP. Green pips to you, Luis! {image}
