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Strat's PASR Long Term, Stress Free Trading

  • #10,081
  • Jan 29, 2019 5:18pm Jan 29, 2019 5:18pm
Quoting Rub
GBPNZD 5Min boot camp 29/1/2019 As before support/resistance drawn in green, vertical green line for London open. Support and resistance is drawn from 4 & 1 hour charts. Price pushed up to the round number 1.9200, bounced away, but didn't close below the 20EMA again. Price would be inside the strat shadow, I want to see it break 1.92 then test the top of the strat shadow (72EMA). Exit after bearish outside bar at resistance. Close above strat shadow and resistance with a nice bullish candle. Exit at break even after bearish engulfing bar. Well,...
Getting the hang of M1 now, Ben!
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,082
  • Jan 29, 2019 5:19pm Jan 29, 2019 5:19pm
Quoting TerryDawe
{quote} How much if any emphasis do you put on the BRNs when trading the M5 Strat?
It's just another SR level to watch for PA, Terry
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,083
  • Edited 8:48pm Jan 29, 2019 7:49pm | Edited 8:48pm
Quoting Scrumy
WCC at EURAUD and GBPCAD Something I see. Maybe your view is different. Let me know for learning purposes. EURAUD: PRICE at top of WCC bar(4) - which means the fourth bar (the current bar having index 0), leaves us for Basic PASR. H1 shows BEEB. Shorting. Edit: PRICE is very nicely supported by the Strat Shadow top. Maybe not the best Set Up. {image} GBPCAD: PRICE at top of WCC bar(4) - top line of WCC is hidden by my SR line at 1.74939, Worker made BEEB, after three days of indecision (IB's). Basic PASR. Shorting. First price level to watch: 1.717....
Scrumy, Nice start. will give my views

About EURAUD

May be its better if you could analyse Boss and Bigboss charts before going to your worker chart. And about your Weekly control candle we do not know which candle you talking about. so include your Boss and bigboss charts also.

And if you trading H1 chart you need to consider the fact that you trading against the STRAT SHADOW. pretty risky. further I see Strat shadow supporting PRICE before.

GBPCAD

As the time you analyse the chart Worker candle did not close. So better to wait until it close. However it closed now and we can officially say it's BEEB. I think we should watch 1.7238-1.72 area as your first price target. which is also in confluence with Strat shadow 20.

Having said that you need to consider PRICE in a choppy up run since August.
Focus, Patience, Discipline, Determination and Perseverance
  • #10,084
  • Jan 29, 2019 10:25pm Jan 29, 2019 10:25pm
Quoting Scrumy
WCC at EURAUD and GBPCAD Something I see. Maybe your view is different. Let me know for learning purposes. EURAUD: PRICE at top of WCC bar(4) - which means the fourth bar (the current bar having index 0), leaves us for Basic PASR. H1 shows BEEB. Shorting. Edit: PRICE is very nicely supported by the Strat Shadow top. Maybe not the best Set Up. {image} GBPCAD: PRICE at top of WCC bar(4) - top line of WCC is hidden by my SR line at 1.74939, Worker made BEEB, after three days of indecision (IB's). Basic PASR. Shorting. First price level to watch: 1.717....
Those both look like decent setups for basic PASR. I have the EURAUD WCC as a doji two weeks ago, and the GBPcAD one from four weeks ago. Is it the same on your charts? Would be helpful to post next time, you might have a different feed.

Quoting strat
{quote} Getting the hang of M1 now, Ben!
Thanks strat. I'll be trying to practice on 5 minute or 1 minute charts a couple of times a week going forward, and post them here for everyone to review.

Does anyone have any tips for trading the London session? I can fairly comfortably trade the first 2 1/2 hours, maybe 3, and I've reviewed posts from:
https://www.forexfactory.com/showthr...6#post10778936 (strat)
and
https://www.forexfactory.com/showthr...0#post11081780 (beyondthesea)

plus a few others I've bookmarked. While I'm sure it's about finding what works for me I'm open to ideas.
  • #10,085
  • Jan 30, 2019 12:54am Jan 30, 2019 12:54am
Quoting Suran
{quote} Scrumy, Nice start. will give my views About EURAUD May be its better if you could analyse Boss and Bigboss charts before going to your worker chart. And about your Weekly control candle we do not know which candle you talking about. so include your Boss and bigboss charts also. And if you trading H1 chart you need to consider the fact that you trading against the STRAT SHADOW. pretty risky. further I see Strat shadow supporting PRICE before. GBPCAD As the time you analyse the chart Worker candle did not close. So better to wait until it...
Thank you for your comment Suran. I thought that when a WCC is active, the Big Boss especially doesn't tell us much and that we should look for Basic PASR on H4 and H1.

So better to wait until it close.

The candle is already closed, the time on the candle shows a negative time (-2:-8). Sometimes my broker is stuck for a couple of minutes, when NY closes. Does this happen to you as well?

Quoting Rub
{quote} Those both look like decent setups for basic PASR. I have the EURAUD WCC as a doji two weeks ago, and the GBPcAD one from four weeks ago. Is it the same on your charts? Would be helpful to post next time, you might have a different feed...
Hey Rub, thanks. I have edited my post above and added the Weekly charts. We both have the same WCC - on EURAUD I have identified the WCC correctly but had written the wrong number in here. So for future I will always post weekly charts as well. Didn't think about the fact that sometimes the feeds show different data.

Here is the updated post: https://www.forexfactory.com/showthr...0#post11941420
Accept the risk!
  • #10,086
  • Jan 30, 2019 2:19am Jan 30, 2019 2:19am
Quoting Scrumy
{quote} Thank you for your comment Suran. I thought that when a WCC is active, the Big Boss especially doesn't tell us much and that we should look for Basic PASR on H4 and H1. So better to wait until it close. The candle is already closed, the time on the candle shows a negative time (-2:-8). Sometimes my broker is stuck for a couple of minutes, when NY closes. Does this happen to you as well? {quote} Hey Rub, thanks. I have edited my post above and added the Weekly charts. We both have the same WCC - on EURAUD I have identified the WCC correctly...
I thought that when a WCC is active, the Big Boss especially doesn't tell us much and that we should look for Basic PASR on H4 and H1.

Yes it is. However ,you trading with NO TREND at that time isn't ? Because Weekly is in a Strat Shadow support and also Daily and H4 Strat Shadow like non-existent. H1 was also supported by strat shadow. see what happened at the next candle after you enter. even though you won the trade ,you had to face big draw down. My personal preference is to trade H4 and H1 with the trend and with Strat Shadow direction to the next S/R level.May be others might have different views.

About candle close. I have no idea why its happening., I should investigate about this. Normally I am sleeping when the new candle starts.

rgds

Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #10,087
  • Jan 30, 2019 2:49am Jan 30, 2019 2:49am
Good morning

GBPCAD M5

30pips more or less, maybe I was just lucky. I would like some feedback from others

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  • #10,088
  • Jan 30, 2019 4:00am Jan 30, 2019 4:00am

GBPNZD 5Min boot camp 30/1/2019



As before support/resistance drawn in green, vertical green line for London open. Support and resistance is drawn from 4 & 1 hour charts. Will be trading the first 2.5 to 3 hours of London open.

 

  1. Price tested 20EMA and pushed up into most recent high, nearly going through. Nice solid bullish candle bigger than previous candles although with a top end wick. Went rocketing up to the 1.9150 and 200ema, and struggled a little, but punched though no worries. Exit after a hammer at resistance, when it followed a few candles that stalled below the resistance.
  2. Re-entry the following candle when it closed above the resistance. Trade was stopped out ~1.9162.
  3. Enter on the hammer after being stopped out. Closed it for a couple of pips because there was no follow through.

I think the trades after the first one were not really necessary, and perhaps I was too impatient to enter again. However I'm up nearly another coffee worth so...

As always comments are welcome.

P.s. Probably not going to trade tomorrow night, but I'm currently sitting on a 61% win rate for the month. I want to drag that up to over 75% before I trade any real money, for now it's the smallest lot size I can.

Quoting bistolis
Good morning GBPCAD M5 30pips more or less, maybe I was just lucky. I would like some feedback from others {image}
Looks very similar to my first trade below, and perfectly good getting out after failing to break the 200ema.
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  • #10,089
  • Jan 30, 2019 4:27am Jan 30, 2019 4:27am
Quoting Rub
GBPNZD 5Min boot camp 30/1/2019 As before support/resistance drawn in green, vertical green line for London open. Support and resistance is drawn from 4 & 1 hour charts. Will be trading the first 2.5 to 3 hours of London open. Price tested 20EMA and pushed up into most recent high, nearly going through. Nice solid bullish candle bigger than previous candles although with a top end wick. Went rocketing up to the 1.9150 and 200ema, and struggled a little, but punched though no worries. Exit after a hammer at resistance, when it followed a few candles...
great trade. GBP was correlated early on. definitely more room to move on GBPNZD, good for 50pips at least (which is what I am aiming for when trading GBP)
  • #10,090
  • Jan 30, 2019 5:16am Jan 30, 2019 5:16am
Quoting bistolis
Good morning GBPCAD M5 30pips more or less, maybe I was just lucky. I would like some feedback from others {image}
Hey bistolis,

my view on your GBPCAD M5 trade.

I had a H4 restistance right above your set up candle (see No. 2). I personally wouldn't have taken it. Also when looking left (see No. 1).
As the trade is also countertrend I guess you did Basic PASR? Where are your SR lines?

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BTW is this you, bistolis?

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Accept the risk!
  • #10,091
  • Edited 6:02am Jan 30, 2019 5:44am | Edited 6:02am
Quoting Scrumy
{quote} Hey bistolis, my view on your GBPCAD M5 trade. I had a H4 restistance right above your set up candle (see No. 2). I personally wouldn't have taken it. Also when looking left (see No. 1). As the trade is also countertrend I guess you did Basic PASR? Where are your SR lines? {image} BTW is this you, bistolis? {image}
haha. same place . well I just picked the picture from the internet. my hometown is on the other side of Greece
my SR lines dont show up on my screenshots. I take the trade after I have already checked higher frames first.
there is indeed SR at that spot, and yes it is basic PASR

I am typically watching how price behaves and it wouldnt close lower, plus my SL is not that big.
I can get out even earlier than my SL, if price action would be showing me that I am an idiot to buy at that spot
  • #10,092
  • Jan 30, 2019 8:23am Jan 30, 2019 8:23am
Quoting strat
{quote} It's just another SR level to watch for PA, Terry
Thanks Strat
  • #10,093
  • Jan 30, 2019 11:26am Jan 30, 2019 11:26am
Very slow, but easy, in PST

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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,094
  • Jan 30, 2019 11:29am Jan 30, 2019 11:29am
Very slow, but easy, in PST

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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,095
  • Jan 30, 2019 11:31am Jan 30, 2019 11:31am
Very slow, but easy, in PST

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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,096
  • Jan 30, 2019 1:04pm Jan 30, 2019 1:04pm
FOMC

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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,097
  • Jan 30, 2019 1:11pm Jan 30, 2019 1:11pm
Quoting strat
FOMC {image}
Hello Strat, hahaha my trades, most of them went with the FOMC... But obviously is the Long Term Trades but my emotions want to close all the trades because the trades were stuck in a range situation...

But for sure i believe is my little people telling me that... Because in the other side, following my rules if FOMC helps to breaks those range and continue.. Well maybe is the begining of the Long Term Trend.

Anyway i dont know why im watching it if the Daily Candle close in 3 hours!!!!!
  • #10,098
  • Jan 30, 2019 1:13pm Jan 30, 2019 1:13pm
Quoting Scrumy
{quote} Sometimes my broker is stuck for a couple of minutes, when NY closes.
Sometimes my broker is stuck for a couple of minutes, when NY closes.

Immediately contact your broker and ask why this is happening as it should be instantaneous. This could be the sign of a broker messing with PRICE - if in doubt, get another broker. Do not accept any excuses from them.
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,099
  • Jan 30, 2019 1:17pm Jan 30, 2019 1:17pm
Quoting bistolis
Good morning GBPCAD M5 30pips more or less, maybe I was just lucky. I would like some feedback from others {image}
But this was counter trend - what was your reason for taking it?
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,100
  • Jan 30, 2019 1:22pm Jan 30, 2019 1:22pm
Quoting Rub
GBPNZD 5Min boot camp 30/1/2019 As before support/resistance drawn in green, vertical green line for London open. Support and resistance is drawn from 4 & 1 hour charts. Will be trading the first 2.5 to 3 hours of London open. Price tested 20EMA and pushed up into most recent high, nearly going through. Nice solid bullish candle bigger than previous candles although with a top end wick. Went rocketing up to the 1.9150 and 200ema, and struggled a little, but punched though no worries. Exit after a hammer at resistance, when it followed a few candles...
Very good, Ben. When you see PRICE ""pumping"" like that and producing a big move, just get out with your profit. That is an IMPULSE WAVE which is almost always followed by consolidation which you must stay out of until the range is broken.

Instead of just seeing the candles, Ben, SEE the buyers and sellers behind them and learn to identify who is IN CONTROL and when they lose it, and the other side gain control.
15 YEARS OF PASR ON FOREX FACTORY!
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