DislikedStock Indices {quote} Let's see what Svolacius has to say as he ""dabbles"" in these.Ignored
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1
Strat's PASR Long Term, Stress Free Trading
This is my most recently closed trade, closed for a loss...
Its pretty easy for US lot to review charts after the fact. But still...its fun and good learning.
Anyhow,Just wondering... Have you considered the importance of 1.29 level in your chart?
See the charts (Boss line chart first)
Now the Worker
Suranga
Focus, Patience, Discipline, Determination and Perseverance
Hi all,
Today's trade
GBPUSD
Here is My thought process
Based on Strats below post and many charts
When I saw the chart I saw below blue marked candles and that tells me PRICE stopped going down. And it started making HH, HL structure with the support of Strat shadow.
Then I started adding my S/R lines on H4 ,H1 and I figured price testing 1.3180 level. Figured its trying to go up based on all the tails of PRICE in that level.
Then when PRICE sliced through the Strat Shadow I was pretty confident the liquidity came to the market. Also Strat Shadow and 200 giving support to PRICE gives me extra confidence pull the trigger.
As USD red news coming up I just exit the trade after the Doji /Shooting Star type candle
Suranga
P.S. If I entered multiple positions and kept one position break even then I still could have stayed in the trade after the red news.But its too much for my little people to handle right now
Today's trade
GBPUSD
Here is My thought process
Based on Strats below post and many charts
M5 {quote}.... we FIRST have to add our support and resistance lines from M15, H1 and H4. At this time, make a mental note of where PRICE is on each time frame RELATIVE to M5. ...
When I saw the chart I saw below blue marked candles and that tells me PRICE stopped going down. And it started making HH, HL structure with the support of Strat shadow.
Then I started adding my S/R lines on H4 ,H1 and I figured price testing 1.3180 level. Figured its trying to go up based on all the tails of PRICE in that level.
Then when PRICE sliced through the Strat Shadow I was pretty confident the liquidity came to the market. Also Strat Shadow and 200 giving support to PRICE gives me extra confidence pull the trigger.
As USD red news coming up I just exit the trade after the Doji /Shooting Star type candle
Suranga
P.S. If I entered multiple positions and kept one position break even then I still could have stayed in the trade after the red news.But its too much for my little people to handle right now
Focus, Patience, Discipline, Determination and Perseverance
- #7,606
- Oct 11, 2018 7:39am Oct 11, 2018 7:39am
- Joined Sep 2016 | Status: Inactive | 1,531 Posts
EURUSD M5
Nice little trend whole morning and when I opened the chart I saw an opportunity to jump in. The news pushed it a bit to the desired direction (why not after all?
)
and I hear a ka ching and back to work now, although it looks juicy, unfortunately I dont have that much time available to keep watching like a hawk.
any feedback is welcome
Nice little trend whole morning and when I opened the chart I saw an opportunity to jump in. The news pushed it a bit to the desired direction (why not after all?
)and I hear a ka ching and back to work now, although it looks juicy, unfortunately I dont have that much time available to keep watching like a hawk.
any feedback is welcome
- #7,608
- Oct 11, 2018 10:40am Oct 11, 2018 10:40am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #7,609
- Oct 11, 2018 10:50am Oct 11, 2018 10:50am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #7,610
- Oct 11, 2018 10:52am Oct 11, 2018 10:52am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #7,612
- Oct 11, 2018 10:54am Oct 11, 2018 10:54am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #7,615
- Oct 11, 2018 11:13am Oct 11, 2018 11:13am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
USDCAD
Thanks for posting your losing trade, Ben. Losing trades teach us far more than wallowing in profit pips.
Happy Trend, Eurotrader, Suran, Svolacius and Terry have all commented on the error of your ways - thank you - TRADERS HELPING TRADERS
So, just to ""Rub"" it in, Ben:
The ""tail"" on this candle was ""all"" and ""everything"" you needed to know!
It is much clearer on my chart when you correctly identify Support and Resistance!
This is my most recently closed trade, closed for a loss. While my entry candle wasn't a perfect shooting start, the day following producing a near copy convinced me to keep the pending order open. My quick notes from the weekend are as follows: USD/CAD: Big boss: Lower high? Doji, range 4months. Boss: Weekly control candle, and testing testing support, confirmed LH. Worker: Sell I think it gapped down to big boss support, reacted and closed the gap, but believe my trade was valid, at least as trading to next support. {image} {image} {image} {image}...
Happy Trend, Eurotrader, Suran, Svolacius and Terry have all commented on the error of your ways - thank you - TRADERS HELPING TRADERS
So, just to ""Rub"" it in, Ben:
The ""tail"" on this candle was ""all"" and ""everything"" you needed to know!
It is much clearer on my chart when you correctly identify Support and Resistance!
15 YEARS OF PASR ON FOREX FACTORY!
- #7,616
- Oct 11, 2018 11:52am Oct 11, 2018 11:52am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
AUDUSD
This is not a prediction/crystal ball gazing - just my ramblings over what ""may"" or ""may not"" happen using all the tools at our disposal.
PRICE is going to go where the Big Boys drive it despite what any of us think. We don't know "where" that is or "when" it will be.
I can fit EW Theory to the Big Boss and Boss in a few different wave formations so that alone tells us of the reliability of EW Theory AND ""my"" interpretation of it.
As I continue to post, PRICE does NOT follow EW Theory, DOW Theory, GANN Theory or John "Best Trader" Doe Theory. Again, can you imagine an Asset Manager of an Investment Bank or a Hedge Fund Manager looking at his PRICE chart and then telling himself he needs to add EW Theory to show him where to buy/sell? ""Oh, PRICE is at the end of Wave 3 so I had better buy/sell"" Dream on Grasshopper!
So, for what its worth and as things are now on the PRICE chart,
""If"" my Wave interpretation is correct, PRICE is struggling at BRN 0.68 support to complete Corrective Wave 4. If"" PRICE CLOSES below BRN 0,68, then, according to EW Theory, Impulse Wave 5 has begun. ""If"" this is correct, then the first EW target is the August 1998 LOW of BRN 0.55
But then I could interpret the Wave formation as.............................................................. and someone, probably everyone else, including Prechter and Frost, the self acclaimed EW Gurus, will have yet another Wave formation and so it goes on....and on.........etc.
So, after all that mumbo jumbo Theory, PASR traders WATCH for PA at our SR levels WITHOUT bias, forecast or predictions.
AUDUSD I suppose that when and if the AUD make its pullback and we get the proper PASR it will be possible to go short again. {image}
PRICE is going to go where the Big Boys drive it despite what any of us think. We don't know "where" that is or "when" it will be.
I can fit EW Theory to the Big Boss and Boss in a few different wave formations so that alone tells us of the reliability of EW Theory AND ""my"" interpretation of it.
As I continue to post, PRICE does NOT follow EW Theory, DOW Theory, GANN Theory or John "Best Trader" Doe Theory. Again, can you imagine an Asset Manager of an Investment Bank or a Hedge Fund Manager looking at his PRICE chart and then telling himself he needs to add EW Theory to show him where to buy/sell? ""Oh, PRICE is at the end of Wave 3 so I had better buy/sell"" Dream on Grasshopper!
So, for what its worth and as things are now on the PRICE chart,
""If"" my Wave interpretation is correct, PRICE is struggling at BRN 0.68 support to complete Corrective Wave 4. If"" PRICE CLOSES below BRN 0,68, then, according to EW Theory, Impulse Wave 5 has begun. ""If"" this is correct, then the first EW target is the August 1998 LOW of BRN 0.55
But then I could interpret the Wave formation as.............................................................. and someone, probably everyone else, including Prechter and Frost, the self acclaimed EW Gurus, will have yet another Wave formation and so it goes on....and on.........etc.
So, after all that mumbo jumbo Theory, PASR traders WATCH for PA at our SR levels WITHOUT bias, forecast or predictions.
15 YEARS OF PASR ON FOREX FACTORY!
- #7,618
- Edited 12:37pm Oct 11, 2018 12:06pm | Edited 12:37pm
- | Joined Apr 2017 | Status: Trader | 511 Posts
USDCAD Trade Plan using WCC
Worker closing within the zone BUT at the 200 ema and 20ema. What to do?
Boss Closed inside the zone and at support. Big Boss is confirming support.
As for gaps, I view them as a market liquidity issue. There aren't enough buyers and sellers at that moment in time to fill prior orders (at the Sunday open), that isn't to say that a market isn't there in global FX. Hence I don't trade into them or against them, I just trade what is on my chart using price at that time.
So back onto my plan:
H4
Entry is good to go off the Worker BUT I drop to H4 and work out the plan which will be target within 15 pips of the WCC high just below that swing high on the 27th.
Stop is below WCC BUT if my trade begins to close below the Strat Shadow on H4 I will very quickly decide if the trade is wrong for me and get out.
Look at the Worker, Boss, Big Boss and the H4 activity on these charts. If I'm using WCC for confluence I need other elements as well to form a trade idea, part of that plan was the pre-planned exit.
Afterthought Edit: For the lurkers and shirkers, there is plenty of information on the thread about Weekly Control Candles - go and read it. Even better, trade it and post it!
Worker closing within the zone BUT at the 200 ema and 20ema. What to do?
Boss Closed inside the zone and at support. Big Boss is confirming support.
As for gaps, I view them as a market liquidity issue. There aren't enough buyers and sellers at that moment in time to fill prior orders (at the Sunday open), that isn't to say that a market isn't there in global FX. Hence I don't trade into them or against them, I just trade what is on my chart using price at that time.
So back onto my plan:
H4
Entry is good to go off the Worker BUT I drop to H4 and work out the plan which will be target within 15 pips of the WCC high just below that swing high on the 27th.
Stop is below WCC BUT if my trade begins to close below the Strat Shadow on H4 I will very quickly decide if the trade is wrong for me and get out.
Look at the Worker, Boss, Big Boss and the H4 activity on these charts. If I'm using WCC for confluence I need other elements as well to form a trade idea, part of that plan was the pre-planned exit.
Afterthought Edit: For the lurkers and shirkers, there is plenty of information on the thread about Weekly Control Candles - go and read it. Even better, trade it and post it!
Private Msgs are turned off to weirdos, loafs and brain drainers
- #7,619
- Oct 11, 2018 12:57pm Oct 11, 2018 12:57pm
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
Illegitimi non carborundum - Noli pati a scelestis opprimi.
