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  • #8,681
  • Nov 13, 2018 10:08pm Nov 13, 2018 10:08pm
Quoting MikuSS
{quote} Thank you Strat for your reply. Yes I had a plan. I am actually happy that I kept to my plan this time round. Normally I would have closed the trade due to my Little People playing around inside my head. I entered on H1 as the worker. However, looking at how good the trade went, I decided to 'upgrade' the trade and trade it as a swing on the H4 instead. Hence, I monitored the trade on H4 instead. I will exit only when there is Price Action telling me to exit (Engulfing Candles, Hammers, etc.). I did see the little candle marked on the H4...
I was expecting Price to reverse

What's that? And what does strat keep saying about expecting/having a bias/etc.?
  • #8,682
  • Nov 14, 2018 12:08am Nov 14, 2018 12:08am
GBP News

Potentially big news day for GBP that isn’t listed on the calendar. Be careful if trading real £
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #8,683
  • Nov 14, 2018 2:03am Nov 14, 2018 2:03am
Quoting BeyondTheSea
GBP News Potentially big news day for GBP that isn’t listed on the calendar. Be careful if trading real £
Thank you for the update.
Successful people do what unsuccessful people are not willing to do
  • #8,684
  • Nov 14, 2018 2:14am Nov 14, 2018 2:14am
Quoting huatzhi
{quote} Alright. I'll just keep on spending more this kind of time. {quote} Hi Pete, I agree what you see on the chart. However, I think I would be doubting whether to entry around this price due to what is on the way. Here is what I see: BB {image} On my feed, last month a hammer. It is testing the roof of the Strat Shadow. - Last couple swing are LH and LL. It does not really mean much here as B {image} It is certainly very bullish, 200 ema is on the way. - However the trend still show no sign of weakness though. SR can be cross cleanly when the...
Hi Huatzhi

Thanl for your comments. I agree that price is at a wobble area and that anything can happen. If I was in the trade at the blue arrow I marked this would be a good place to take profit. However from a trend trading perspective this might be a good point to add on to a trade hence my interest to see what will happen to price at this level. Any way, I am here to learn so let's see what price does...

Thank
Pete
  • #8,685
  • Nov 14, 2018 2:25am Nov 14, 2018 2:25am
Quoting Rub
{quote} Have a look at where the big boys are likely taking this on big boss. To me that looks around the .9200/.9300 area. There's still room to go. Boss has been rocketing up but is now at a area that's seen some consolidation in the past, so may pause here. Worker, the entry you've indicated would've been a good one. For me, I would want to see a replacement toward the strat shadow, or a solid close above .9000 to enter. At the moment it looks to me like price is very extended, with a good chance it'll retrace. {quote} Big boss hasn't confirmed...
Hi Rub

Thank you for your input. I also had that 92/3 level in mind. As per Huatzhi's comments I agree that we are at a wobble area so I am not in the trade yet but I am watching this one closely to see what price will do. My view looking at the longer term time frames that we need to be aware of the wobble areas but also consider them as add on areas in case the trend continues. Let's what price does...

Thanks
Pete
  • #8,686
  • Nov 14, 2018 2:47am Nov 14, 2018 2:47am
Hi gang,
I would like your opinion on the H4 shooting stars, that appeared this morning on EUR pairs. I only took the EURUSD one, as it was as textbook as you can get.
Would you have taken the others as well, why and why not?

EURUSD - clear PASR
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EURJPY - would the resistance at 128.450 have scared you off?
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EURCAD - would you consider 1.4938 and previous day BUEB good enough to prevent you from taking the trade?
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Comments welcome!
Cheers
  • #8,687
  • Nov 14, 2018 3:16am Nov 14, 2018 3:16am
Quoting Zanek
Hi gang, I would like your opinion on the H4 shooting stars, that appeared this morning on EUR pairs. I only took the EURUSD one, as it was as textbook as you can get. Would you have taken the others as well, why and why not? EURUSD - clear PASR {image} {image} EURJPY - would the resistance at 128.450 have scared you off? {image} {image} EURCAD - would you consider 1.4938 and previous day BUEB good enough to prevent you from taking the trade? {image} {image} Comments welcome! Cheers
hi
you should use weekly control candles if you trade the H4
EURJPY and EURCAD are not really going anywhere . and both are in the middle of their WCC. I am not sure if you get nice odds for short, unless you drop to lower timeframes
  • #8,688
  • Nov 14, 2018 3:20am Nov 14, 2018 3:20am
Good Morning PASR members,

I apologize for not posting many charts. I have been going back through the first thread, and taking notes while absorbing as much as possible.

I have also placed some trades with overall success. I had two losses, a few winners, and a few that are 1/2 closed at BE.

Attached is a recent trade that closed on EURJPY. My plan was to take two positions with take profit at 1R and 2R. I am currently weighing the pros and cons of different money management strategies. It ended up being a quick trade targeting 2R which was just prior to support.

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Attached is a recent trade that closed on EURUSD. This trade ended in a SL. As you can see I went short directly into support. Foolish decision on my part! I was hoping it would push through on the next attempt. LESSON LEARNED!

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TampaFX
Successful people do what unsuccessful people are not willing to do
  • #8,689
  • Nov 14, 2018 3:24am Nov 14, 2018 3:24am
Quoting TampaFX
Good Morning PASR members, I apologize for not posting many charts. I have been going back through the first thread, and taking notes while absorbing as much as possible. I have also placed some trades with overall success. I had two losses, a few winners, and a few that are 1/2 closed at BE. Attached is a recent trade that closed on EURJPY. My plan was to take two positions with take profit at 1R and 2R. I am currently weighing the pros and cons of different money management strategies. It ended up being a quick trade targeting 2R which was just...
Hi
Early entry on EURUSD in my opinion.
Great trade on EURJPY , shorting at the top of the WCC
  • #8,690
  • Nov 14, 2018 3:42am Nov 14, 2018 3:42am
Quoting TampaFX
......This trade ended in a SL. As you can see I went short directly into support. Foolish decision on my part! I was hoping it would push through on the next attempt. LESSON LEARNED! {image} TampaFX

Hi TampaFX,

I am agreeing with Bistolis. thats not a good trade. And you traded straight in to S/R level.
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And within Weekly Control Candle. Especially in the middle of the Weekly Control Candle. As per what I learned, We do not initiate trades in the middle of Weekly control candle (if PRICE within the WCC candle).

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Great trade on EurJpy

rgds
Focus, Patience, Discipline, Determination and Perseverance
  • #8,691
  • Nov 14, 2018 6:10am Nov 14, 2018 6:10am
My mornings cup of coffee is next to the keyboard... TIME FOR A SIP.

I have been thinking through management these last few days. Managing positions, psychology, and this country's FIFO rules. (First in first out)

Have some ideas I am liking.

1. Trading 4h and daily candles. The two work together well for my brain cell and work schedule.
2. Splitting the initial position in half in separate accounts and set a profit target for one. (Dealing with FIFO)
3. Use profits from split position to "fund" next add-on.
4. Split add-ons in half and do #2 with each until I run out of accounts (have 3) to keep them separate. (FIFO)
5. The only 4hr candle I won't be able to get eyes on will be at 2am close my time durring the first part of the London session.


For now, I like taking profits as a trade matures.

Some things that I have been considering to fit trading into my life and the things needed to be done on a daily basis.
Looking forward to laying out the results here on a chart or two.

Have a super day all.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #8,692
  • Nov 14, 2018 7:43am Nov 14, 2018 7:43am
EUR USD M5 Trend Trading

I closed the trade when price closed below my support level.

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  • #8,693
  • Nov 14, 2018 7:52am Nov 14, 2018 7:52am
NZDCAD

Quoting JCMPete
Good day All NzdCad Analysis Big Boss (Monthly): October ended a long tailed Doji on support. This month's candle is so far a very strong bullish candle. Boss: Strong immediate uptrend. Swing low was already confirmed at the blue line on my chart. This immediate uptrend is reflected in the strong bull candle on the Big Boss chart. (Learning to see beyond candles) Worker: Blue line carried over from the Boss. I should have started looking for PASR around here but didn't as I did not SEE it at the time. The BUEB indicated with the blue arrow would...
I see you have responded to good comments from huatzhi and Rub - TRADERS HELPING TRADERS

Big Boss (Monthly):

October ended a long tailed Doji on support. This month's candle is so far a very strong bullish candle.

This is just a statement of history and fact. How does it help you in deciding what to do on this pair? What do we use the Big Boss for?

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Boss:

Strong immediate uptrend. Swing low was already confirmed at the blue line on my chart. This immediate uptrend is reflected in the strong bull candle on the Big Boss chart. (Learning to see beyond candles)

Again, just a statement of history and fact. Where is PRICE heading etc?

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Learning to see beyond candles

You have no chance of doing this UNTIL you trade LIVE with REAL money at the MOVING HARD RIGHT EDGE.

Worker:

Blue line carried over from the Boss. I should have started looking for PASR around here but didn't as I did not SEE it at the time. The BUEB indicated with the blue arrow would have been a good entry. Price have moved onto close above the 200 and support. Looking to see if the current worker candle will close as a BUOB in order to enter long.

Again, just a statement of history and fact. Where is PRICE heading etc?

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Pete, you are in danger of being the world's best armchair quarterback. I admire your dedication to diligently reading both threads BUT reading and analysing does not make money. Back in the UK, Bruce Forsyth had many catch phrases one of which was "He is all mouth and no action".

You must put PASR into practice by trading REAL, hard earned money at the moving hard right edge which is where you REALLY learn and find out what you don't know ( and what you think you know but have forgotten). Decide whether you want to be a trader or a commentator.

Are you a "make it happen guy" or a "watch it happen" guy?
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,694
  • Nov 14, 2018 8:05am Nov 14, 2018 8:05am
GBP

Quoting BeyondTheSea
GBP News Potentially big news day for GBP that isn’t listed on the calendar. Be careful if trading real £
Thanks Nathan. What was this - the meeting of Cabinet Ministers to approve Brexit terms?
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,695
  • Nov 14, 2018 8:11am Nov 14, 2018 8:11am
Quoting strat
NZDCAD {quote} I see you have responded to good comments from huatzhi and Rub - TRADERS HELPING TRADERS Big Boss (Monthly): October ended a long tailed Doji on support. This month's candle is so far a very strong bullish candle. This is just a statement of history and fact. How does it help you in deciding what to do on this pair? What do we use the Big Boss for? {image} Boss: Strong immediate uptrend. Swing low was already confirmed at the blue line on my chart. This immediate uptrend is reflected in the strong bull candle on the Big Boss chart....

Swing Boss

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Heading to Resistance.

or if Boss find sellers, we are going to see with the correct Boss Candle at the end of Friday.
  • #8,696
  • Nov 14, 2018 8:28am Nov 14, 2018 8:28am
NZDUSD

Quoting Francl
Good evening NZDUSD analysis Bigboss: down trend, but bounced from support, swing low is confirmed {image} Boss: intermediate downtrend but recently closed above 20 and confirmed swing low so immediate up trend, now traped betwen to SR, {image} Worker: Up trend, crosed 20 and 72, broke 1st resistance 0,671ish, retraced from resistance 0,681 and 200 ema, (confirmed swing high), today bounced from previous resistance and engulfed inverted hammer, theoreticaly would go long above todays high or few pips more than friday candle high, but no good RR...
Take note of good comments from huatzhi and Rub - TRADERS HELPING TRADERS - where is everyone else?

Big Boss: down trend, but bounced from support, swing low is confirmed

Swing low is NOT confirmed - confirmation cannot happen until the Market CLOSES on November 30, 2018

What do we use the Big Boss for?

Boss: intermediate downtrend but recently closed above 20 and confirmed swing low so immediate up trend, now trapped between to SR,

""now trapped between to SR""

What is ""now trapped between to SR""?

This is probably a language issue but try not to think of""being trapped"". This subconsciously causes our trading brain to "freeze" and will prevent us from taking action on what happens next.

The fact is that PRICE has reached a previous level where sellers sold off the longs (sellers outnumber buyers). Dropping down to shorter time frames allows us to SEE this in greater detail.

Worker: Up trend, crossed 20 and 72, broke 1st resistance 0,671ish, retraced from resistance 0,681 and 200 ema, (confirmed swing high), today bounced from previous resistance and engulfed inverted hammer, theoretically would go long above today's high or few pips more than Friday candle high, but no good RR cause above is SR and ema 200, will wait if this could be taken out, I will look also H4 or H1 for potential entry.

"crossed 20 and 72"

What is the 20 and 72?

"inverted hammer"

There is no ""inverted hammer"" in PASR

but no good RR cause above is SR and ema 200, will wait if this could be taken out, I will look also H4 or H1 for potential entry.

Good

There is a candle pattern on the Worker and all time frames below it. Do you SEE it and know what it means?

Good analysis, Francl. Now let's see a pair that has not already been analysed
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,697
  • Nov 14, 2018 8:35am Nov 14, 2018 8:35am
Quoting Rub
{quote} I was expecting Price to reverse What's that? And what does strat keep saying about expecting/having a bias/etc.?
Thank you Rub for reminding. Perhaps I was reading Price Action the wrong way.

Regards,
Miku
  • #8,698
  • Nov 14, 2018 8:39am Nov 14, 2018 8:39am
EURAUD

Price is at a decision level and we could potentially see an end to the downswing.
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  • #8,699
  • Nov 14, 2018 8:58am Nov 14, 2018 8:58am
EURJPY

Quoting MikuSS
{quote} Thank you Strat for your reply. Yes I had a plan. I am actually happy that I kept to my plan this time round. Normally I would have closed the trade due to my Little People playing around inside my head. I entered on H1 as the worker. However, looking at how good the trade went, I decided to 'upgrade' the trade and trade it as a swing on the H4 instead. Hence, I monitored the trade on H4 instead. I will exit only when there is Price Action telling me to exit (Engulfing Candles, Hammers, etc.). I did see the little candle marked on the H4...
Miku, since I classed you as a "Hobby Trader", you have made significant progress on THE PATH so keep on doing more of what you are doing.

Normally I would have closed the trade due to my Little People playing around inside my head.

This is not good. There is a reason for this which you must find out to really progress. I guess everyone thought I was crazy when I did my self evaluation in front of the mirror but it works for me - try it and be brutally honest with yourself - you will be surprised what comes out of it but above all, find out why your Little People are CONTROLLING you.

I entered on H1 as the worker. However, looking at how good the trade went, I decided to 'upgrade' the trade and trade it as a swing on the H4 instead. Hence, I monitored the trade on H4 instead.

Switching gears (time frames) in mid - trade should ONLY be done by experienced PASR traders. While you did OK (all profits are ""OK""), you would probably have done better staying on H1. Remember, we need to crawl before we can walk and walk before we can run - very important.

What I have learnt during this trade:

Very good, Miku - without "learning" there is no progress.

1) Monitor the trade on Worker in relation to Boss. This is dependant on your entry, and there is no 'upgrade'. If my entry was H1, then I have to check H1 every hour. My Swing would be H4.

Stick to your PLAN which you didn't do since you switched trading time frames. Make sure you are consistent at Basic PASR before attempting Swing PASR and especially trading the higher time frame Swing on the next lower time frame. Don't try to trade what you don't know (yet).

2) Look properly at your Support and Resistance zones for the time frame that you are trading. I was so blinded, I didn't see the Support that rejected Price for THREE times at the exact location.

This is a HUGE problem. Without correct identification of SUPPORT and RESISTANCE there is no PASR. You must find out why you missed this. I suggest identifying SR on all 28 pairs from the Big Boss down to M1 until you can do it blindfolded hanging...............................................................
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,700
  • Nov 14, 2018 9:01am Nov 14, 2018 9:01am
Quoting strat
NZDCAD {quote} I see you have responded to good comments from huatzhi and Rub - TRADERS HELPING TRADERS Big Boss (Monthly): October ended a long tailed Doji on support. This month's candle is so far a very strong bullish candle. This is just a statement of history and fact. How does it help you in deciding what to do on this pair? What do we use the Big Boss for? {image} Boss: Strong immediate uptrend. Swing low was already confirmed at the blue line on my chart. This immediate uptrend is reflected in the strong bull candle on the Big Boss chart....
Hi Strat

So the short of it...yes, I am procrastinating in getting my feet wet. Being a good analyst without action means nothing as you quite rightly say. There is no gain sitting on the grandstand shouting insults at the Ref if my team doesn't win. My team consists me, myself and the man in the mirror....and off course the Ref, which by the way is a strict but fair referee. Never let it be said that I blame the ref in the outcome of my game (Trading Business ( Game in the analogy but it is not a game,it is a deadly serious business which is probably why I am procrastinating )). In this thriving and collaborative community I have a good coach, a good team and a consistent referee along with a supportive crowd, and, what can be fairer than that? So here is my promise to the community on this thread: Going forward I will only post real live trades. I will not post any commentary until such time I have earned my colors to do so unless off course I can help someone else in need.

This is Apprentice Pete signing off. I need to get My Team off the grandstand through the locker room onto the middle of the playing field and If I win, the credit will go to the Coach. Should I be so unfortunate to lose the Ref will not be blamed. The team captain will carry the blame with his team...Me, Myself and the Man in the Mirror.

So, please excuse me. I have some introspection and serious work work to do.

Regards
Pete
P.s. Thank you for the wake up call Strat...much appreciated!
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