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Strat's PASR Long Term, Stress Free Trading

  • #7,301
  • Oct 2, 2018 10:58am Oct 2, 2018 10:58am
Quoting bistolis
{quote} {file} you can try this template as well. I adjusted the atr to 10 {image} the number in the brackets is the number of candles you want. if it is 10 it just means that the indicator will display the average range of the last 10 candles (days for the above chart) I noticed on your chart that it displays a candle for sunday. I believe it will affect the average (I edited this post multiple times. just for your information )
Thank you to all those traders helping their fellow traders - TRADERS HELPING TRADERS
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,302
  • Edited 1:06pm Oct 2, 2018 12:22pm | Edited 1:06pm
PASR

Quoting huatzhi
Reflection of my decision making on CAD pairs for past 2 weeks GBPCAD BB Is in down trend anyway. I did not think about shorting it due to August long wick candle. B As I think the momentum on BB is up, BEEB and wick red candle being read as against BB. With Brexit issue, I did not spend too much time on this pair. W It was really a mess for past 2 weeks. Especially after my BB and B study, I did not really spend too much time on this pair. => May be valid reason? EURCAD BB Same as GBPCAD. I did not think about shorting it due to August long wick...
GBPCAD & EURCAD
BB
Is in down trend anyway. I did not think about shorting it due to August long wick candle.

Good. PRICE is trying to find a bottom from which to launch a move higher so PATIENCE and DISCIPLINE is key.

USDCAD
W
Did not trade as I keep thinking Strat Shadow and 200ema going to be support. Shooting star of September 27 could be a good one but I think it is still supported by strat shadow. After the confirmation candle close, there goes the gap.
=> FEAR

Did not trade as I keep thinking Strat Shadow and 200ema going to be support.

But you correctly identified that the Big Boss and Boss were "bearish". ""Thinking"", is one of our WORST emotions in trading and does NOT help us to trade to make money. You need to learn and UNDERSTAND what you are SEEING on your charts. You are half way there as you correctly identified that the Big Boss and Boss were "bearish".

Shooting star of September 27 could be a good one but I think it is still supported by strat shadow.

You got this totally wrong. That Shooting Star is another example of CLASSIC PASR. See my Posts 6679, 6676 and 6683. It is AT the confluence of static resistance and resistance of the Strat Shadow. Make sure you see and understand this.

=> FEAR

While there is an element of FEAR, it is ALWAYS better to be safe than sorry (Rule No 1) . It is much better to experience this than GREED. This FEAR is also a function of confidence and belief in both yourself and PASR - fancy words for ""experience"". Unfortunately, no-one has found a way to "short cut" experience so it just comes down to spending thousands of hours studying PASR on thousands of charts.

CADJPY

W
September 18th was too worried about SR. Then when price fly, there isn't really any PA on daily chart for entering. (I am pretty sure even if there are, I am probably worry about SR around 87.5 though)
=> Do not have enough understanding of PASR.

September 18th was too worried about SR.

Good, but don't ""worry"". PASR traders WAIT for PRICE to SHOW us what to do at Resistance and Support.

Then when price fly, there isn't really any PA on daily chart for entering.

Yes there was. See where I marked it on the chart. If you don't understand it, let me know.

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There was even better opportunities on H4. Either would have put you in LONG positions to take advantage of the PRICE gaps in CAD pairs.

NZDCAD
BB
I know is downtrend, but worry about support.
B
BUEB scared me in a downtrend.
W
No bearish PA since Sept 6.
=> Do not have enough understanding of PASR.

BB
I know is downtrend, but worry about support.

See my comments on CADJPY

B
BUEB scared me in a downtrend.

Who controls and instructs the Boss? Keep reading, learning and understanding my POWER OF TIME FRAMES and study this picture "in detail":

Attached Image


W
No bearish PA since Sept 6.

Yes there was. See where I marked it on the chart. If you don't understand it, let me know.

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=> Do not have enough understanding of PASR.

Just carry on as you are making sure you commit to learning and understanding PASR

Thoughts: While the discipline keep me out of bad trades, it is also reducing amount of practice I have on actual trade?

This is our "protective human instinct" to keep us "safe" when we are learning something new. Spend more time doing the F12 exercise to build up your confidence in PASR trades. Then try focusing on just one pair - select one of the majors in YOUR time zone.

Don't be discouraged, huatzhi, you are progressing well on THE PATH.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,303
  • Oct 2, 2018 12:51pm Oct 2, 2018 12:51pm
EURAUD H4

Quoting Eurotrader17
{quote} Sorry Strat for my poor explanation. What I meant was based on your reply to Pete (based on the chart you just posted to me on your last post) So, I asked why that candle pointed out to get short? Since I don't see is a BEEB, a BEOB, ShootingStar or IB. And also it didn't happen near to StratShadow (IMHO), didn't close below EMA200, etc.. Could we consider it as a spinning top? (as explained in post 4968) not sure if that candle suits as that. Also, what I said regarding WCC was that as I have marked my BOSS with a WCC and that candle happened...
You have misunderstood my Post 7263 to JCMPete.

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Nowhere in there did I say that blue arrow was my trade. That blue arrow was where JCMPete should have entered if he was at his chart.

I made it perfectly clear that I was trading the Boss Swing on the Worker

I also have different support levels (I'm trading the Boss Swing on the Worker)

My entry is at 1.6192 on the Worker based on the Boss UP swing at resistance - but that is a strategy for very experienced PASR traders
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,304
  • Oct 2, 2018 12:54pm Oct 2, 2018 12:54pm
Quoting bistolis
that is the new carry trade combination ? {image}
Carry Trades have NOTHING to do with PASR trading
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,305
  • Oct 2, 2018 12:59pm Oct 2, 2018 12:59pm
GBPCAD & GBPUSD M5 PASR Trend Trading

Quoting Suran
Only If I was watching the charts today.. {image} {image} Suranga P.S. I know GBP is bit risky these days..but still beautiful M5 PASR trend........
But at least you recognised the opportunities

P.S. I know GBP is bit risky these days..but still beautiful M5 PASR trend........

But M5 and M15 is a SMALL and MEASURED RISK so we take everything the Market throws at us.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,306
  • Oct 2, 2018 1:01pm Oct 2, 2018 1:01pm
Quoting strat
EURUSD M15 PASR Trend Trading 51 pips {quote} Wonderful, Yomi. I have been sat watching the JPY pairs in some sort of Corrective Wave going nowhere so M5 trading is over for me today.
Thank you for your guidance here.


Happy Trading,
Yomi.
Time always comes before price
  • #7,307
  • Oct 2, 2018 1:19pm Oct 2, 2018 1:19pm
EURUSD

PASR traders closely watching what PRICE does at this support

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15 YEARS OF PASR ON FOREX FACTORY!
  • #7,308
  • Oct 2, 2018 1:23pm Oct 2, 2018 1:23pm
EURNZD

PASR traders closely watching what PRICE does at this support

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15 YEARS OF PASR ON FOREX FACTORY!
  • #7,309
  • Oct 2, 2018 1:33pm Oct 2, 2018 1:33pm
AUDUSD

Waiting for PRICE ACTION from the Big Boys to see if they will drive PRICE back down to the 2016/2015 lows or even maybe DEMAND at the 2009/2008 lows.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #7,310
  • Oct 2, 2018 1:54pm Oct 2, 2018 1:54pm
Quoting strat
EURAUD H4 {quote} You have misunderstood my Post 7263 to JCMPete. {image} Nowhere in there did I say that blue arrow was my trade. That blue arrow was where JCMPete should have entered if he was at his chart. I made it perfectly clear that I was trading the Boss Swing on the Worker I also have different support levels (I'm trading the Boss Swing on the Worker) My entry is at 1.6192 on the Worker based on the Boss UP swing at resistance - but that is a strategy for very experienced PASR traders
Nowhere in there did I say that blue arrow was my trade.
Didn't say so Strat, I was referring about the recommendation you gave Pete. You made clear you were trading the BOSS Swing on the Worker (using PA that happens in the WORKER)
Sorry if I'm too stubborn, but If possible, I want to know why you recommended going short on that candle

I attach the chart you posted to Pete where I have drawn my question.
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Thanks in advance.
My entry is at 1.6192 on the Worker based on the Boss UP swing at resistance - but that is a strategy for very experienced PASR traders
Ok! I'll try to explain what I see there in order to get short but no need to reply on this. Just practising since I know I have a long path to follow before going to more advanced PASR techniques.
BOSS
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WORKER
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IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
  • #7,311
  • Oct 2, 2018 2:17pm Oct 2, 2018 2:17pm
Quoting Rufus
{quote} Hi Eurotrader Just because there is a WCC. Weekly Control Candle. Does not mean you can't trade it. It is something to be aware of and trade accordingly. In the charts below there are two WCCs marked out. One is tradeable the other difficult to trade. One that is ping ponging around the other with momentum with the Big Boss in control. {image} {image} Thinking through this post explained a lot to my brain cell. Thanks for the question.
Hi Rufus,
Thanks a lot for your reply.

Just because there is a WCC. Weekly Control Candle. Does not mean you can't trade it.
Never said that I meant I wouldn't short this pair since price was already testing the bottom of the current WCC, so I'd rather look for longs.

Does not mean you can't trade it. It is something to be aware of and trade accordingly.
Yes! We can trade this using both the bottom and the top of the WCC as support/resistance respectively waiting for PA to occur on those levels. And also, as Strat and others have posted in the past it could be very profitable if we go down to H4 and look there for PA.

Thinking through this post explained a lot to my brain cell. Thanks for the question.
Since I have started posting more often and trying to analyze everyone's posts, I think I'm getting things faster as stated by "The Pyramid Learning"


Quoting Rufus
{quote} As a follow-up post. Look at the messy WCC. When price finally broke to the upside it dropped down for a nice orderly retest of the WCC high and gave an entry. {image}
I have noticed that several times as well, but never used it as an entry point as I didn't have the confidence yet. What I do is once the BOSS has broken the current WCC I leave in the chart either the top or the bottom of the broken WCC waiting for a pullback to that level in order to see how price behaves there.
IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
  • #7,312
  • Oct 2, 2018 2:21pm Oct 2, 2018 2:21pm
Quoting strat
EURAUD H4
Quoting JCMPete
{quote} Welcome back Pete and thank you for helping your fellow trader - TRADERS HELPING TRADERS Your H4 entry is late and double the ATR (10) from the Strat Shadow (but depends on your time zone) and should be at my blue arrow. I also have different support levels (I'm trading the Boss Swing on the Worker) {image} From your charts, it looks like you don't have all the historical data for this pair as your 200 is not printing correctly. Contact your broker and ask how to download ALL the historical data from their
...
...[/quote]

Thank you Strat and thank you for your comments, content which is noted. I agree that my entry is late. I need to work on recognizing placement levels using PA. Support levels - noted. I can see where your support levels are coming from. I will contact my broker regarding downloading all of their historical data.

Thanks
Pete
  • #7,313
  • Oct 2, 2018 2:29pm Oct 2, 2018 2:29pm
Quoting strat
GBPUSD {quote} Good analysis, Pete
Thank you Strat...

Regards
Pete
  • #7,314
  • Edited Oct 3, 2018 10:34am Oct 2, 2018 6:35pm | Edited Oct 3, 2018 10:34am
EURAUD H4

Quoting Eurotrader17
{quote} Nowhere in there did I say that blue arrow was my trade. Didn't say so Strat, I was referring about the recommendation you gave Pete. You made clear you were trading the BOSS Swing on the Worker (using PA that happens in the WORKER) Sorry if I'm too stubborn, but If possible, I want to know why you recommended going short on that candle I attach the chart you posted to Pete where I have drawn my question. {image} Thanks in advance. My entry is at 1.6192 on the Worker based on the Boss UP swing at resistance - but that is a strategy for very...
Hi Strat, what was the PA in that candle? Could you give more details about the reason why you would have entered on that candle, please?

First, remember that this was JCMPete's H4 trade, not mine. I would not have traded it so all I was doing was telling Pete that his entry was late.

I don't know how far you are on THE PATH so if you haven't at least read it once and understood the second time, this may be difficult to grasp. This is what I call SEEING BEYOND THE CANDLES.

Having checked Pete's H4 trade, the next thing I did was enter my support levels to see the potential for a trade.

PRICE Structure is High - Low - Lower High - Lower Low - Lower High. If PRICE continues within this structure, we should see a Lower Low.

PRICE closed below the Strat Shadow.

The Strat Shadow is RED confirming the immediate DOWN trend..

PRICE pulled back towards the Strat Shadow with 2 hanging man candles followed by an over size hanging man candle. After the first hanging man in a pull back at/near the Strat Shadow or resistance/support, we LOOK for the first sign of PRICE trend continuation. That is where I marked my blue arrow.

Does that answer it?

Did you check my support levels and where PRICE stopped?
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,315
  • Oct 2, 2018 6:41pm Oct 2, 2018 6:41pm
EURAUD H4

Quoting JCMPete
{quote}{quote}...
Thank you Strat and thank you for your comments, content which is noted. I agree that my entry is late. I need to work on recognizing placement levels using PA. Support levels - noted. I can see where your support levels are coming from. I will contact my broker regarding downloading all of their historical data. Thanks Pete[/quote]

Support levels - noted. I can see where your support levels are coming from.

Did you SEE where PRICE found support and stopped?

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15 YEARS OF PASR ON FOREX FACTORY!
  • #7,316
  • Oct 2, 2018 6:46pm Oct 2, 2018 6:46pm
LIGHT BULB

Quoting Eurotrader17
{quote} Hi Rufus, Thanks a lot for your reply. Just because there is a WCC. Weekly Control Candle. Does not mean you can't trade it. Never said that I meant I wouldn't short this pair since price was already testing the bottom of the current WCC, so I'd rather look for longs. Does not mean you can't trade it. It is something to be aware of and trade accordingly. Yes! We can trade this using both the bottom and the top of the WCC as support/resistance respectively waiting for PA to occur on those levels. And also, as Strat and others have posted...
Thinking through this post explained a lot to my brain cell. Thanks for the question.

Since I have started posting more often and trying to analyze everyone's posts, I think I'm getting things faster as stated by "The Pyramid Learning"

Excellent, young man.

If only all the other PASR Lurkers would follow your example!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,317
  • Oct 2, 2018 7:09pm Oct 2, 2018 7:09pm
Quoting strat
PASR {quote} GBPCAD & EURCAD BB Is in down trend anyway. I did not think about shorting it due to August long wick candle. Good. PRICE is trying to find a bottom from which to launch a move higher so PATIENCE and DISCIPLINE is key. USDCAD W Did not trade as I keep thinking Strat Shadow and 200ema going to be support. Shooting star of September 27 could be a good one but I think it is still supported by strat shadow. After the confirmation candle close, there goes the gap. => FEAR Did not trade as I keep thinking Strat Shadow and 200ema going to...
For USDCAD, the confluence of Strat Shadow and Static SR should be something like the purple line in this picture?
Attached Image (click to enlarge)
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CADJPY

For 4H it is obvious.
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However, I do not really understand that price. Here is my attempt of understanding it - In the first red square, a BUEOB toward the resistance. The following doji is supported by previous swing high. Then it start wobbling, a BEEB is form. The price get supported by strat shadow confluenced with previous swing high after the BEEB and then breaking the high of the wobble area. Hence creating a failing BEEB. Is it using the failed BEEB as bullish PA?


NZDCAD

I do not understand this as well. After the shooting star on September 6 in this first blue square, the price is testing the same SR again. Long wick rejections happened with confluence of Strat Shadow. The third square means that the top of the Strat Sahdow is closing in and touching the SR?

The second square remind me of James16 thread (before I got the memo on the latter part of old thread), where a bullish candle followed by a bearish candle that make a higher high is a PA to sell. I assume it is not relevant.
  • #7,318
  • Oct 2, 2018 8:31pm Oct 2, 2018 8:31pm
AUDUSD

Decided a few days back that I will be posting every position of mine for my educational purposes, win, lose, or draw. Putting PASR education on top priority.


Entered position a few days back with the falling star. Position still running with target just above BRN .7000. Targets for me are also flexible, not set in stone depending on price action.

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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #7,319
  • Oct 3, 2018 1:42am Oct 3, 2018 1:42am
Good entry Rufus!

But beware at the bottom of the WCC that is approaching, I do not see it on your graphics

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  • #7,320
  • Edited 2:18am Oct 3, 2018 2:07am | Edited 2:18am
Just for training purposes, please comment & correct me.

This is analysis for BRENT crude I've done a couple of weeks ago but forgot about it and I'm not in the trade.

Now the situation concluded. I'm putting it as I've prepared it back then.

I was interested in price reaction at level around 70$, here's BB situation:

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This level is better visible on Boss chart:

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and price reaction on the Worker:

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My entry would have been on the bar end marked with red arrow
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