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PVSRA (Price, Volume, S&R Analysis) 6,210 replies

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PVSRA Scalping with Cigarguy

Quoting RaysJourney
Trade #19 | EU 1M | 0.50 size | - 5 pips | = - 23.93 Euro A typical PVSRA setup, but didn't work out for me. Here is what I saw: - Price bullish since London Open - Retracement to Dragon, rejection with notable volume. Volume was also decreasing on the way to the dragon. - Entered and got taken out I guess not my day hehe. Feedback is appreciated. {image}
I like this one, but it can happen that goes against you after a 70 pips move up. The rr is really good though, if you don't close it after 5 pips when it goes your way.
Answering your previous questions:
1) I don't really trade Asian session (I know, I sound like those guys answering questions on Amazon saying 'I don't know, I didn't buy it for myself'
2) No fixed hard SL for me, it's usually under some level, but I close it manually 95% of the time
Quoting the3mp
{quote} I like this one, but it can happen that goes against you after a 70 pips move up. The rr is really good though, if you don't close it after 5 pips when it goes your way. Answering your previous questions: 1) I don't really trade Asian session (I know, I sound like those guys answering questions on Amazon saying 'I don't know, I didn't buy it for myself' 2) No fixed hard SL for me, it's usually under some level, but I close it manually 95% of the time
Hey the3mp and thank you for your feedback.

I've also taken my time analyzing my screenshots and here are some comments that I want to add on top of your comments:

1.) Yes, I will avoid Asian session from now on as well :-)
2.) Yes, seems to be the case. Also, I think that angle of the dragon was flat at this moment ... this is not a good PA answer, but I'll blame it on that.

Trade #17 - possible loss due to Asian session
Trade #18 - possible loss due to being simply unlucky. I got taken out, price turned and it would have hit 5 pips TP
Trade #19 - possibly a bigger retracement would have been expected

For the past many months, I am in some sort of devil's circle where I see good setups but, for some insecurity reasons in my head, I skip these trades. Today I told myself to stop being so mentally blocked and take the trade I believe are worth taking ... and get taken out every time. I am really unlucky hehe.

Hmm ... very frustrating. Anyway, thanks for your feedback again. I'll take these as lessons that I have to pay for again.

Cheers!
Quoting RaysJourney
{quote} For the past many months, I am in some sort of devil's circle where I see good setups but, for some insecurity reasons in my head, I skip these trades. Today I told myself to stop being so mentally blocked and take the trade I believe are worth taking ... and get taken out every time. I am really unlucky these hehe. Hmm ... very frustrating. Anyway, thanks for your feedback again. I'll take these as lessons that I have to pay for. Cheers!
That's very common, it's called selective memory. You only remember the times where the trade would have gone good for you. That's why the best thing is to trade for some time and see if you actually make profit.
Quoting the3mp
{quote} That's very common, it's called selective memory. You only remember the times where the trade would have gone good for you. That's why the best thing is to trade for some time and see if you actually make profit.
You are right. I'll keep going since I know it's possible making money with PVSRA. You, Vape, Rob and others are the living proof for it. Thanks for helping me (us) out :-)
GU M1 +10 Explanation on chart

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Trade #20 | UJ 1M | 0.50 size | +0 pips | = + 0 Euro

Here is what I saw:

- Price bearish since London session
- Price retracing back to dragon while volume decreasing
- Rejection off the dragon with notable volume, closing below daily open
- Target was 10 point key level, didn't reach it for 0.2 pips (I was up almost 6 pips). Out of fear, I put my trade to BE in case it completely turns

Poor trade management, poorly traded. Since I lost three trades in a row, I got greedy instead of locking my 5 pips ... truly not my day.

Feedback is appreciated.

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Quoting RaysJourney
Trade #20 | UJ 1M | 0.50 size | +0 pips | = + 0 Euro Here is what I saw: - Price bearish since London session - Price retracing back to dragon while volume decreasing - Rejection off the dragon with notable volume, closing below daily open - Target was 10 point key level, didn't reach it for 0.2 pips (I was up almost 6 pips). Out of fear, I put my trade to BE in case it completely turns Poor trade management, poorly traded. Since I lost three trades in a row, I got greedy instead of locking my 5 pips ... truly not my day. Feedback is appreciated....
Maybe you should try bigger time frame like 5M or 15M, I find it is easier to trade than have to focusing the 1M chart.
Quoting atoue
{quote} Maybe you should try bigger time frame like 5M or 15M, I find it is easier to trade than have to focusing the 1M chart.
To be completely honest, I was thinking about it BUT I am not sure how different it is from trading 1M.

For example, would the TP be 10 and SL 10 (most here use 5pips TP and 5 pips SL on 1M)? Would you enter on the exact same principles like on M1 (i.e. retrace to Dragon, etc.)?

I always felt that 1M is the best time frame since you can see the volume "in detail" and can predict moves that would happen on the 5M/15M before it happens? Maybe I am wrong, but I gave it a thought.

Do you mind clarifying the differences if you know them?

Frankly, 1M is still the one I prefer the most. I am also slowly getting used to it.
Quoting atoue
{quote} Maybe you should try bigger time frame like 5M or 15M, I find it is easier to trade than have to focusing the 1M chart.
Price action is in M5 or M15 not a other one. You only must trade bigger SL and TP. This system work well in M1 if you want to use some indicators. Here we scalp little movement and a target of 5 Pips is a good choice. Look the many great trades postet here. Jumping to the next higher timeframe will not care your results.
Market is more simple as you think.
Trade #21 | UJ 1M | 0.50 size | +4.5 pips | = + 14.53. Euro

- Triple bottom, since New York open, price is going higher.
- Pinbar and volume candle on dragon, showing rejection off dragon. We also made higher lows
- Also looks like a typical break and retest of a resistance that turned into support
- Exited at key level but price jumped a bit lower in that second I exited.

Once it reached the round key level, I exited. Momentum looked go and if I hadn't screwed up my last four trades today, I'd let it run longer. But due to my mistake last time, I was too afraid letting it run. Psychology really is a huge problem in my trading ... I often do everything the complete opposite. Hmmm ... Anyway, this is giving me some confidence again.

Also, this is something I am still trying to figure out - when to let it run above the key level, when not.

Feedback is appreciated.

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Quoting RaysJourney
Trade #21 | UJ 1M | 0.50 size | +4.5 pips | = + 14.53. Euro - Triple bottom, since New York open, price is going higher. - Pinbar and volume candle on dragon, showing rejection off dragon. We also made higher lows - Also looks like a typical break and retest of a resistance that turned into support - Exited at key level but price jumped a bit lower in that second I exited. Once it reached the round key level, I exited. Momentum looked go and if I hadn't screwed up my last four trades today, I'd let it run longer. But due to my mistake last time,...

Thanks for posting your trades it is very intresting to follow you and some other regular posters in this thread. I see before you had some losing trades in a row. Do you have a money management that tells you to stop trading at some point after a certain number of losing trades or after some percent of the acccount is down or something like that ?

Thank You.

Best regards
Quoting jgadefelth
{quote} Thanks for posting your trades it is very intresting to follow you and some other regular posters in this thread. I see before you had some losing trades in a row. Do you have a money management that tells you to stop trading at some point after a certain number of losing trades or after some percent of the acccount is down or something like that ? Thank You. Best regards
Hey!

Personally, I tend to keep trading, regardless if winning or losing streak, as long as I get setups that are worth taking. My money management remains the same and I believe that MM does not matter in this case as it seems to be a pure psychological factor when you are on a losing streak. Staying calm in such cases is key and avoiding to increase lot sizes (i.e. martingaling) to recover losses.

I hope that I was able to give an accurate answer to your question.
GU Sell +5

Reasons for enty:
- PA didn't break dragon after high volume candle
- Nice downtrend of PA since LC
- Downtrend also on M5, entered just below dragon

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Have a nice evening
Quoting RaysJourney
{quote} Hey! Personally, I tend to keep trading, regardless if winning or losing streak, as long as I get setups that are worth taking. My money management remains the same and I believe that MM does not matter in this case as it seems to be a pure psychological factor when you are on a losing streak. Staying calm in such cases is key and avoiding to increase lot sizes (i.e. martingaling) to recover losses. I hope that I was able to give an accurate answer to your question.
Yes thank You but maybe emotions also are not so good after some losers and you taking trades that are little less good then you normaly would ? Or what is your target you take as many trades as you can that follow the rules in a certain period f time ?

Best regards
Quoting RaysJourney
Trade #19 | EU 1M | 0.50 size | - 5 pips | = - 23.93 Euro A typical PVSRA setup, but didn't work out for me. Here is what I saw: - Price bullish since London Open - Retracement to Dragon, rejection with notable volume. Volume was also decreasing on the way to the dragon. - Entered and got taken out I guess not my day hehe. Feedback is appreciated. {image}
My humble 2 cents...
1. Bullishness since London open has already matured or retarded
2. Red news was ahead. Although it was GBP inflation report, I would personally stay on the side
Attaching a news indicator. Enjoy
RS
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File Type: mq4 CalendarFX-I-A13.mq4   79 KB | 170 downloads
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File Type: ex4 CalendarFX-I-A13.ex4   107 KB | 147 downloads
Quoting RaysJourney
Trade #19 | EU 1M | 0.50 size | - 5 pips | = - 23.93 Euro A typical PVSRA setup, but didn't work out for me. Here is what I saw: - Price bullish since London Open - Retracement to Dragon, rejection with notable volume. Volume was also decreasing on the way to the dragon. - Entered and got taken out I guess not my day hehe. Feedback is appreciated. {image}
Ray,

almost took the same trade but see chart
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Quoting jgadefelth
{quote} Yes thank You but maybe emotions also are not so good after some losers and you taking trades that are little less good then you normaly would ? Or what is your target you take as many trades as you can that follow the rules in a certain period f time ? Best regards
You are correct, but that wasn't in my case. I would still take these trades, regardless if I had a winning streak or losing streak as I saw a potential of 5 pips. I personally don't have a target and I take setups, if any good appear, while I am in front of my PC :-)
Quoting RisingSun
{quote} My humble 2 cents... 1. Bullishness since London open has already matured or retarded 2. Red news was ahead. Although it was GBP inflation report, I would personally stay on the side Attaching a news indicator. Enjoy RS {image} {file}{file}
This could be also a reason for the loss. Thank you for your feedback - I'll pay more attention to red news and avoid trading during this time.
Quoting h2y
{quote} Ray, almost took the same trade but see chart {image}
Seems reasonable yes. What would you do in such cases? Wait until it breaks above with notable volume or if you had already entered like me, exit the trade since the next candle with very high volume was not able to close above?
GU 1M +4
Short after PA broke minor support zone. Hit my tp.
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