Disliked{quote} Not going to post the same charts, but I'm keeping an eye on this too.Ignored
look for buying opportunities at strat shadow
Strat's PASR Long Term, Stress Free Trading
- #4,003
- Apr 19, 2018 1:35am Apr 19, 2018 1:35am
- | Joined Feb 2010 | Status: Trading God, Finally! | 140 Posts
Been quiet around here today. Usually I get home from work and have 20 or 30 posts greeting me. Time to liven things up a bit. GBPJPY Big Boss. Has been climbing with a steady stream of higher highs and higher lows. {image} The Boss Also climbing {image} Now for the Worker Price is pulling back into the Start Shadow. I would like to see it get deeper inside, at least to the support level marked; around 151.37. As for the target. 155.90 {image}
I entered once the SS had been breached and price closed above the strong support from the end of December and mid March. There was a BUEB at that resistance level (obscured on my silly chart!).
TP1 already hit and have 2 more positions at break even which are just below the to of the SS.
Sorry for the odd lines. Not on my usual PC!
Study enough and it all starts looking like the Matrix...
- #4,004
- Apr 19, 2018 6:56am Apr 19, 2018 6:56am
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
{quote} agree with CJ, but for me Big Boss immediate trend is down, it hasn't confirmed a swing low. Price is bouncing from support right now There might be a buy opportunity, but RRR rather 1.5 Rufus, I don't think your WCC is still valid since there were closes below the low of this candle
Illegitimi non carborundum - Noli pati a scelestis opprimi.
- #4,005
- Apr 19, 2018 7:03am Apr 19, 2018 7:03am
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
{quote} I'm already long on this Rufus. I entered once the SS had been breached and price closed above the strong support from the end of December and mid March. There was a BUEB at that resistance level (obscured on my silly chart!). TP1 already hit and have 2 more positions at break even which are just below the to of the SS. Sorry for the odd lines. Not on my usual PC! {image}
Charts like this are teaching me more about the Strat Shadow every day.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
- #4,007
- Apr 19, 2018 7:32am Apr 19, 2018 7:32am
- | Joined Feb 2010 | Status: Trading God, Finally! | 140 Posts
{quote} Our data feeds may be a little different. {image}
If we can close above the WCC this week I'l be hunting for long signals on the worker.
Study enough and it all starts looking like the Matrix...
- #4,008
- Edited 11:20am Apr 19, 2018 9:57am | Edited 11:20am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
GBPJPY
Here is the PASR Road Map:
Been quiet around here today. Usually I get home from work and have 20 or 30 posts greeting me. Time to liven things up a bit. GBPJPY Big Boss. Has been climbing with a steady stream of higher highs and higher lows. {image} The Boss Also climbing {image} Now for the Worker Price is pulling back into the Start Shadow. I would like to see it get deeper inside, at least to the support level marked; around 151.37. As for the target. 155.90 {image}
15 YEARS OF PASR ON FOREX FACTORY!
- #4,009
- Apr 19, 2018 10:05am Apr 19, 2018 10:05am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
AUDUSD
PRICE is currently at the top of the Weekly Control Candle
{quote} Hi CJ I have been waiting on this one, it is in a tight range of about 110 pips. The weekly chart looks messy to me and it is in the Middle of a Weekly Control Candle. I highlighted it on the chart. Right now price is working on the forth week in this area. Once we get a weekly candle to close outside this area, then I will start looking at it a little. To me it looks like the Bosses are arguing with each other and the poor worker is lost and doesn't know whether to "shit or go blind"...That wont translate well. The worker has no direction...
15 YEARS OF PASR ON FOREX FACTORY!
- #4,010
- Apr 19, 2018 12:19pm Apr 19, 2018 12:19pm
- | Joined Feb 2010 | Status: Trading God, Finally! | 140 Posts
Todays M5 trend trading lessons learned.
Had some time to put into to M5 practice again today. Mixed results but out on top overall.
There were a few other trades I took and got chopped out during the London session which I've not posted. Those resulted in a 25 pip loss overall. Some break evens and a little losers with tight stops.
Here are the ones I let play out fully.
AUD/USD
I took 3 entries. I set TP targets based on H1 support for each. Firstly to please the little people gradually and second as I anticipated strong support there.
All 3 TPs were hit but there was no price action to tell me to take profit. IF I had not set automatic TPs and took profit at price action I'd have bagged way more than the 60 pips I did with my 3 positions.
EUR/AUD
This took me for 30 pips as had 2 positions entered at the same time and a 15 pip move the wrong way.
I had support in place and in hindsight should have waited longer for a confirmed trend. Entered after the first pullback (saw tooth creation) which was too soon. Missed the signal to get out and my stops did the trick.
Just look at that lovely move up this afternoon. Why wasn't I on that?
I wan't on that because I just missed it and.....
I took a very poor entry on GBP/AUD and didn't want to get involved in two AUD pairs at once.
Then I took another entry after that one which was not much better. Price was moving sideways and the SS was contracting so I was watching the support carefully and a break below would have got me out manually. Support had held 3 times and price was consolidating around the shadow top and other GBP pairs were strong movers. That gave me confidence a snap was on it's way higher.
95 pips in total on this one though.
EUR/USD
An then I finished on this little tiddler for 15 pips. Got in on the break or support but it didn't want to go very far before signalling to me to get out. Is that a re-entry just happening now on the chart?
Looks like resistance line and strat shadow resistance to me. Wonder what will happen?
115 pips today overall.
I still don't feel 100% comfortable but I'm getting there I think. I'm sure that losing day is coming and I'll share that too when it arrives. Marathon not a sprint as they say.
Had some time to put into to M5 practice again today. Mixed results but out on top overall.
There were a few other trades I took and got chopped out during the London session which I've not posted. Those resulted in a 25 pip loss overall. Some break evens and a little losers with tight stops.
Here are the ones I let play out fully.
AUD/USD
I took 3 entries. I set TP targets based on H1 support for each. Firstly to please the little people gradually and second as I anticipated strong support there.
All 3 TPs were hit but there was no price action to tell me to take profit. IF I had not set automatic TPs and took profit at price action I'd have bagged way more than the 60 pips I did with my 3 positions.
EUR/AUD
This took me for 30 pips as had 2 positions entered at the same time and a 15 pip move the wrong way.
I had support in place and in hindsight should have waited longer for a confirmed trend. Entered after the first pullback (saw tooth creation) which was too soon. Missed the signal to get out and my stops did the trick.
Just look at that lovely move up this afternoon. Why wasn't I on that?
I wan't on that because I just missed it and.....
I took a very poor entry on GBP/AUD and didn't want to get involved in two AUD pairs at once.
Then I took another entry after that one which was not much better. Price was moving sideways and the SS was contracting so I was watching the support carefully and a break below would have got me out manually. Support had held 3 times and price was consolidating around the shadow top and other GBP pairs were strong movers. That gave me confidence a snap was on it's way higher.
95 pips in total on this one though.
EUR/USD
An then I finished on this little tiddler for 15 pips. Got in on the break or support but it didn't want to go very far before signalling to me to get out. Is that a re-entry just happening now on the chart?
Looks like resistance line and strat shadow resistance to me. Wonder what will happen?
115 pips today overall.
I still don't feel 100% comfortable but I'm getting there I think. I'm sure that losing day is coming and I'll share that too when it arrives. Marathon not a sprint as they say.
Study enough and it all starts looking like the Matrix...
- #4,011
- Apr 19, 2018 1:34pm Apr 19, 2018 1:34pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #4,013
- Apr 20, 2018 1:26am Apr 20, 2018 1:26am
- | Joined Feb 2010 | Status: Trading God, Finally! | 140 Posts
AUDUSD, EURAUD, GBPAUD & EURUSD 115 pips M5 PASR Trend Trading Strategy {quote} Samson, you really should post those losing trades as we LEARN more from those than winning trades. Also, you screwed up trading AUD in opposite directions! You got AUDUSD right showing AUD being sold but THEN you traded EURAUD short meaning AUD was long! If AUD is being sold, as shown by AUDUSD, then EURAUD will go UP. This is even more important on M5. Anyway, 115 pips is very good and you are improving each day with M5
That one I posts where I took a 30 pip loss at my stop loss was one I didn't see and get out of manually.
Regarding trading in opposite directions. I try to only take one trade in a pair at a time but hard when you see price action on M5 charts as it moves so fast. I think I have itchy trigger syndrome sometimes when the market is slow on M5. I think rather than watching 12 pairs I'll concentrate on less.
The highest volatility pairs all have GBP in them so widdling the list down to less is hard to decide.
Any suggestions?
These are what I currently watch. Maybe I should just watch 6?
Study enough and it all starts looking like the Matrix...
EUR JPY
Good morning,
would like to share my 3 time frames analysis for EUR JPY:
BB: despite the strong correction in Feb the uptrend is still intact.
B: interesting situation. Here we can also see the correction mid Feb until End of March. But correction stopped at the Strat shadow and found support , so buyers came back (BUEB Gewinnung of March). The swing low was also confirmed in the meantime, so ready for the way up again.
Price also closed above WCC.
W: same situation. Strat shadow green now , buyers are back in control. Price closed above WCC and found new support.
so my plan would be to look for an entry on the long side.
Comments welcome, as always.
You have a nice weekend.
BB:
B:
W:
Good morning,
would like to share my 3 time frames analysis for EUR JPY:
BB: despite the strong correction in Feb the uptrend is still intact.
B: interesting situation. Here we can also see the correction mid Feb until End of March. But correction stopped at the Strat shadow and found support , so buyers came back (BUEB Gewinnung of March). The swing low was also confirmed in the meantime, so ready for the way up again.
Price also closed above WCC.
W: same situation. Strat shadow green now , buyers are back in control. Price closed above WCC and found new support.
so my plan would be to look for an entry on the long side.
Comments welcome, as always.
You have a nice weekend.
BB:
B:
W:
- #4,015
- Apr 20, 2018 1:41am Apr 20, 2018 1:41am
- | Joined Feb 2010 | Status: Trading God, Finally! | 140 Posts
When I see this chart today.. I was like.......wow this is what Strat has been talking about....am I right.. My main aim is to practice..identifying the tooth blade structure type...trend these days... {image}
For me at the moment the tooth blade structure is the smaller sections of the moves on that chart, not the whole chart. To trade what whole section of chart you would have been in and out many times, not holding it all day.
Thats just how I would do it with the style I thin I'm developing with M5. Everyone is different.
The aim is to sit in front of the one eyed monster for a few hours and take pips. Strat says a couple of hours maybe 3 at most.
For me in the UK when I get the time it's ideally either 9-12 or 1-4. In and out when price action tells you or TPs are hit (in my case at the moment).
I'm trying to focus on breaks or resistance and tooth blades.
It's easy in hind sight on a chart but at the hard right edge I'm having quite a few false starts and getting out of trades with small losses. Part of the learning process.
Study enough and it all starts looking like the Matrix...
- #4,020
- Apr 20, 2018 7:20am Apr 20, 2018 7:20am
- Joined Aug 2010 | Status: EsikeTrader | 2,227 Posts | Online Now
Time always comes before price