DislikedEUR AUD Hello, here is my analysis for EUR AUD. Comments or feedback is appreciated. BB: price is in an uptrend since beginning of 2017 (so coming from 1,36) BUT price tried a few times to break that resistance area (see grey rectangle). As price was not able to break that area yet I would be careful to jump on the long side. B: same picture here from my point of view, so uptrend , too. There is also a “BUT” as price could close below the WCC this week, what would be a sign to me to wait and watch what price is doing next. Closing at these levels...Ignored
Strat's PASR Long Term, Stress Free Trading
- #3,864
- Apr 13, 2018 9:06am Apr 13, 2018 9:06am
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
Hi all
This was a position from a few days back. Just have had no time to post. But what I like about this position is that it shows the versatility of the Strat Shadow.
As my manner in the morning, was looking for PSAR 5M entry. But saw nothing that interested me.
So I thought about the CAD being the bully on the block right now and started looking at CAD pairs with 1hr charts.
Initially found myself looking at it the way I do for PSAR 5M, but caught myself. Somewhere in the thread somebody asked about 1hr entries. So went to higher timeframes to confirm trend.
They were trending down.
So took a small position at the arrow 1hr chart for about 2:1 .
The Strat Shadow has versatility. But first you need to understand the Shadow. I think there are a number of traders on here who are not taking the time to read the thread. If you don't read and understand, all the PASR and the Strat Shadow will be is more stuff on your chart. So if I may offer a bit of advice. Strip your charts bare of everything. Then put the Shadow only on them. Then look at price react in and around the shadow. Then add a few support and resistance lines not 30 or 40. All you need are a few each side of price. Personally I am to a point that looking at someone's complicated chart gives me price action claustrophobia.
Back to the trade above.
Trading the 1hr gives me a few more options in the morning. Your Boss will be the 4h and Big Boss will be the daily. BUT FIRST UNDERSTAD STRAT SHADOW. READ THE THREAD.
Happy weekend all.
This was a position from a few days back. Just have had no time to post. But what I like about this position is that it shows the versatility of the Strat Shadow.
As my manner in the morning, was looking for PSAR 5M entry. But saw nothing that interested me.
So I thought about the CAD being the bully on the block right now and started looking at CAD pairs with 1hr charts.
Initially found myself looking at it the way I do for PSAR 5M, but caught myself. Somewhere in the thread somebody asked about 1hr entries. So went to higher timeframes to confirm trend.
They were trending down.
So took a small position at the arrow 1hr chart for about 2:1 .
The Strat Shadow has versatility. But first you need to understand the Shadow. I think there are a number of traders on here who are not taking the time to read the thread. If you don't read and understand, all the PASR and the Strat Shadow will be is more stuff on your chart. So if I may offer a bit of advice. Strip your charts bare of everything. Then put the Shadow only on them. Then look at price react in and around the shadow. Then add a few support and resistance lines not 30 or 40. All you need are a few each side of price. Personally I am to a point that looking at someone's complicated chart gives me price action claustrophobia.
Back to the trade above.
Trading the 1hr gives me a few more options in the morning. Your Boss will be the 4h and Big Boss will be the daily. BUT FIRST UNDERSTAD STRAT SHADOW. READ THE THREAD.
Happy weekend all.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
- #3,865
- Edited 9:33am Apr 13, 2018 9:20am | Edited 9:33am
- | Joined Jul 2017 | Status: Trader | 94 Posts
{quote} Dear LuisRicardo, Do you agree that when we take 1st trade we can only see the Pre Boss candle, right? If you agree with that, ok let's go on. I am puzzled with your post. I am so stupid and cannot listen what Boss say as you listened. so please explain again why Boss say go down when take the 3rd entry. First trade: candle fight with the support again, but have a lower low and lower high than previews and let the close below the open of the previews. Second trade: fight with the support again and broke it fight with the support, so this...
The point of WCC is not how to identify, but how to use it, when to use it and why Strat created.
In this chart, Boss is the 20EMA and Big Boss the 72EMA, most of the time are used for Support and Resistance.
This is a trade that a make which illustrates perfectly how the MA(Boss and Big Boss) move the price up, like a hand rising:
- #3,866
- Apr 13, 2018 9:47am Apr 13, 2018 9:47am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #3,867
- Edited 10:14am Apr 13, 2018 10:00am | Edited 10:14am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #3,868
- Apr 13, 2018 10:05am Apr 13, 2018 10:05am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #3,870
- Apr 13, 2018 10:10am Apr 13, 2018 10:10am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #3,875
- Apr 13, 2018 1:40pm Apr 13, 2018 1:40pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
Losing trade this morning. Entry on retracement into strat shadow, PRICE rejecting worker S/R (v. clear from the resistance to the left of entry - also extant on the H1 BOSS) and a close above a BUEB. SL placed at the red line (below the BUEB that rejected S/R) was hit. Trade never went into the green. Take home lesson seems to be THIS IS NOT A TREND!! Price shot up just before London open and reverted back to the mean, so the strat shadow reacted, but there had been nothing remotely trendy all day. Applied that lesson: did not enter a potential...
This is a TREND
This is JUNK!
15 YEARS OF PASR ON FOREX FACTORY!
EURAUD {quote} Good analysis. What will you do when the Worker CLOSES at 5 pm today?
Additionally: having a glas of whiskey after this week.
- #3,877
- Apr 13, 2018 1:43pm Apr 13, 2018 1:43pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #3,879
- Edited 7:59pm Apr 13, 2018 7:34pm | Edited 7:59pm
{quote} You can't use the B or BB candle to trade or to confirm, if you do, you are late. Use B and BB chart only to see direction and place S/R, and use the W chart to trade. The point of WCC is not how to identify, but how to use it, when to use it and why Strat created. In this chart, Boss is the 20EMA and Big Boss the 72EMA, most of the time are used for Support and Resistance. This is a trade that a make which illustrates perfectly how the MA(Boss and Big Boss) move the price up, like a hand rising: {image}
Thanks for your reply. but I don't think you thought well or understood me before reply.
You can't use the B or BB candle to trade or to confirm.
Yes, I don't use the Boss to trade, but use it to confirm the TREND.
Use B and BB chart only to see direction
That's right. But what you think I discuss with you? I discuss with you how Boss say the DIRECTION.
- First trade and Second trade: The Boss (the candle 1 on Boss chart which one is so large Bullish candle) say the DIRECTION is DOWN? If not, why do you think the 1st and 2nd trade is right?
- Third trade: because one Bear candle (the candle 2 on Boss chart and this candle didn't closed below the Bullish candle and in the UPTREND), so you listened the Boss said "Third trade, Boss win and say go down". I didn't agree this. My point is that Boss said the DIRECTION is SIDEWAYS.
- Fouth trade: The prev boss candle ( the candle 3) is so small and inside the WCC. But you said "Four trade The Boss say clear the DIRECTION making a big engulfing." My point is that the Boss said the DIRECTION is SIDEWAYS. and Which one boss candle make a big engulfing before the Fourth trade?
Do I say enough clear to my point about what I thought the Boss said the DIRECTION?
The point of WCC is not how to identify, but how to use it, when to use it.
This is one good question. we should to discuss it clear.
So, what do you think how to use it? Sell at the buttom of the WCC without a broken to confirm? like that 1st and 2nd trade?
what I know from this thread is:
1- If you are an unexperienced trader, we should not trade in the WCC.
2- If you are an experienced trader, you can buy at the buttom of the WCC and Sell at the top of the WCC.
that's right?
The More Debate The Truth, The Clearer The Truth.
Thanks
Best regards
Don't Rush Things, Be PATIENT and Wait For the Best Trade Setup