Strat's PASR Long Term, Stress Free Trading

Quoting Svolacius

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{quote} Yes, that was my reasoning on EURAUD as well, I posted a detailed reason why I entered a week ago. As far as I remember, BeyondTheSea also had similar view.

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Quoting brian661

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Hi everyone, sorry for disappeared for a week as I was busy for my job and my broker disabled their service in Japan. So spent some time on search for a new broker. Working on my weekly analysis. EURUSD Monthly : After rejected by 200EMA twice, the trend are going down. Weekly : Close clearly under the WCC and support area. Daily : Close clearly under support I think this is a nice sell trade as there is a wide space to next support. But I am wondering should I enter directly once the market open on Monday. {image} {image} {image}

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Quoting BeyondTheSea

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{quote} Update, still in EURAUD. We traded into Boss support which is shabby. I saw a 2 to 1 trade on the Worker and took it, the buyers and sellers are currently happy with the price with slight pressure to the downside, as Strat pointed out there were buyers picking this up in June on the 200ema which was also at BRN 1.55, I also thought I saw sellers there too briefly before being beaten so this has become a retest of that upper range, if we close below 200ema then game on if not then it's a planned loss, no big deal. Also watching for next week...

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Quoting fxlrich

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Don't have the account size to comfortably trade the weekly chart yet, stops are to wide to keep my risk at 2%, but i will continue to trade them on demo so that when the time comes that i do have a larger account i can trade the weekly stress free and with confidence. 1 example of whats possible with boring old PASR, currently up about 600 pips (DEMO) and no sign of slowing down yet, might have a bit of a wobble at current support, but price action will tell us what to do. EURJPY another thats up 500+ pips. {image}

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Quoting BeyondTheSea

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{quote} Hi Brian EU looks tempting.. one for me to watch. Ref USDCAD I think the short term buyers were there last week. If I was trading 5 min I might be watching it however I can't see a good RR for me longer term. Maybe a close above 1.33 would get me interested.

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Quoting brian661

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{quote} Hi BTS, How will you try to enter the EURUSD trade? If the price do not re-test on the resistance around 1.146 (on my chart), or 1.152 (on your chart) Will you just skip it?

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Quoting brian661

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A lost on EURAUD 5minutes trade enter at the 3 reject of resistance. But got stop out at 10pips above the resistance. Should I not enter the trade because candles have many wicks and going up and down of the shadow? {image}

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Quoting Mhons

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{quote} Hello Brian, do you see any trend that is the best way to trade 5 minute monster? You answered yourself, there is 30 pips range, where you can trade basic PASR, but 5M TF Is not best way how to do it, even if you entered at Ressistance you should monitor trade and after signs that bulls took control (strong closed above STRAT shadow ) and changed structutre you should get out (or put at BE, depends on your plan) and end up BE or something. My point of view, hope it helps MH

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Quoting BeyondTheSea

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{quote} Be careful for your "planned trade days" because you will be "looking" for trades and not SEEING them. There is no good or bad day to trade London and don't listen to anyone who tells you there is. You need to be aware of ALL GBP domestic news announcements and trade accordingly. I think I made a post some time back about trading that session. Also don't waste your time trading these 5m chart sessions on demo, it's a waste of time and you will not develop your mindset skills. As for your AUDNZD trade, sorry I don't trade that pair anymore,...

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Quoting brian661

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{quote} Thanks Mhons, yes, just to check my answer is correct or not, and to post some failure chart for others to learn.

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Quoting strat

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GBPAUD {quote} {image} That was 3 days ago and Forex can change in a heartbeat never mind 3 days. There is buying on the shorter time frames and no selling on the Boss and, with AUD $ getting weaker, I closed all positions at the Boss Hammer today. From an EW view, PRICE has closed at 61.8% expansion from Wave 3 suggesting that Wave 5 is complete - PASR does not use EW but it helps when there is confluence. I thought PRICE would bottom out at BRN 1.7 but we trade what we SEE - not ""thoughts"". Interesting that PRICE closed at BRN 1.75 today.

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