Illegitimi non carborundum - Noli pati a scelestis opprimi.
Strat's PASR Long Term, Stress Free Trading
- #5,201
- May 26, 2018 9:11am May 26, 2018 9:11am
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
- #5,205
- May 26, 2018 11:08am May 26, 2018 11:08am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
{quote} Hey Strat, I don't understand your first entry because Big Boss and Worker are in an up swing even if there was a BEEB on the Boss the previous week. Ok with the BEEB on the Worker. The 3 time frames are not aligned ...
I want to give some my thoughts about GBPJPY.
Big Boss
there was a Big Bear Candle on Big Boss and there was s strong Resistance.
we only draw the S/R line on Big Bosss, not look what the Trend is, right?
Boss
there was a BEEB on the Boss too confirmed a LH.
Worker
BEOB as the PA entry signal.
So, I think the 3time frames are aligned.
thanks
Don't Rush Things, Be PATIENT and Wait For the Best Trade Setup
- #5,208
- Edited 8:28pm May 26, 2018 8:10pm | Edited 8:28pm
My analysis for the week:
AUDUSD
BB: Still on downswing
B: WCC, with a Bond Hammer
Worker: Friday's candle gave a BEEB.
Will place a sell stop below the candle on Monday's open, targeting low of WCC.
AUDNZD
BB: Overall trend is down, immediate trend is up, but price at resistance
B: Price visited resistance but was rejected and closed below 200ema. New WCC.
Worker: A nice BEOB/BEEB candle formed at resistance
Will place a sell stop below the candle on Monday's open, 1st target is low of WCC.
GBPUSD Trend PASR Add-on
Planning to add-on to GBPUSD according to Trend PASR, 1st target at 1.30 RN.
EURUSD
Lastly, EURUSD Worker made a nice BEEB, closing below support. BB and B still in downswing.
AUDUSD
BB: Still on downswing
B: WCC, with a Bond Hammer
Worker: Friday's candle gave a BEEB.
Will place a sell stop below the candle on Monday's open, targeting low of WCC.
AUDNZD
BB: Overall trend is down, immediate trend is up, but price at resistance
B: Price visited resistance but was rejected and closed below 200ema. New WCC.
Worker: A nice BEOB/BEEB candle formed at resistance
Will place a sell stop below the candle on Monday's open, 1st target is low of WCC.
GBPUSD Trend PASR Add-on
Planning to add-on to GBPUSD according to Trend PASR, 1st target at 1.30 RN.
EURUSD
Lastly, EURUSD Worker made a nice BEEB, closing below support. BB and B still in downswing.
- #5,213
- Edited 8:29am May 27, 2018 8:07am | Edited 8:29am
Some insights on AUD/NZD, I believe trogger could share some better knowledge about these pairs though.
Big Boss: In progress of an upswing, making HL and HH. Price reached a resistance zone, which has been tested multiple times.
Boss: Bond shooting star last week, shooting star-ish candle this week - quite large body to call it a perfect one, but price action is again showing that price is being rejected from the zone, could possibly be Big Boys taking profits. Since price first reacts on the Boss than on the Big Boss, this could indicate the end of the upswing.
Worker: Lots of selling on the 18th and 25th, with price just barely moving up in between - indecisive candles clearly show that Big Boys might be thinking what to do next with this pair.
As I already have AUD pair long, I don't want to short AUD now and bring more risk to my account, I would wait for a clear move to the downside, because the Friday's candle still made a higher-high.
Big Boss: In progress of an upswing, making HL and HH. Price reached a resistance zone, which has been tested multiple times.
Boss: Bond shooting star last week, shooting star-ish candle this week - quite large body to call it a perfect one, but price action is again showing that price is being rejected from the zone, could possibly be Big Boys taking profits. Since price first reacts on the Boss than on the Big Boss, this could indicate the end of the upswing.
Worker: Lots of selling on the 18th and 25th, with price just barely moving up in between - indecisive candles clearly show that Big Boys might be thinking what to do next with this pair.
As I already have AUD pair long, I don't want to short AUD now and bring more risk to my account, I would wait for a clear move to the downside, because the Friday's candle still made a higher-high.
- #5,214
- May 27, 2018 9:37am May 27, 2018 9:37am
{quote} AUDUSD I don't have the same view on this pair. Big Boss and Boss are at support and Boss support was rejected 3 times The worker made a Higher High last week, so may start a new up trend
On the Worker chart, there is a confirmed Higher low, indicating an immediate uptrend.
However, the Boss indicates an unconfirmed Lower High.
I know the Boss chart lags behind the Worker, but it is the Boss that tells the Worker what to do. Who should we listen to in this case
Although with such a beautiful BEEB on the Worker, perhaps it is better to stay out of the trade.
- #5,216
- May 27, 2018 2:07pm May 27, 2018 2:07pm
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
{quote} As far as I remember, the higher low will be confirmed when a candle will CLOSE above the high of your HL(?) marked candle.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
- #5,218
- May 27, 2018 4:53pm May 27, 2018 4:53pm
- Joined Aug 2010 | Status: EsikeTrader | 2,227 Posts
Time always comes before price
Regarding AU. It has been under the influence of a WCC for 4 weeks and going into the fifth week. I think Strat's handling of WCC's is not to trade them. I'll not make any decision on AU until next Friday's close. {image} {image}
the WCC which you market is NOT a WCC. It is controled by the Pre week candle.
@MikuSS,
You are wrong about the WCC of AUDUSD too.
thanks
Don't Rush Things, Be PATIENT and Wait For the Best Trade Setup