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Strat's PASR Long Term, Stress Free Trading

  • #11,041
  • Mar 15, 2019 12:37pm Mar 15, 2019 12:37pm
Quoting Alesiosc
hello Strat....would you mind giving me your views on the way im drawing trendlines please. i start of with a monthly line chart with TL's drawn as solid lines. ive then provided the same chart , just in candles. these i have been classing as my major TL's. (i know you class weekly TL's as your major). then i have drawn on the weekly line chart dotted lines, classing these as my minor trendlines, but, strength wise classing them as strong S&R with the solid lines being classed as extra strong (a bit like Trebor. im sure you remember them). ive then...
H Alesiosc, I try not to over complicate it.

I look for Big Boss turning points and start there. Then I move to a Boss chart, look at the structure and then move the lines. Finally I look to fine tune on the worker and use confluence points at these levels.

It's a zone and not an exact price point. I don't class any support in terms of "strength" only the big players control that and it changes on a dime and at their will.

Also you don't need support lines 500 pips away from your price unless it is part of your trading plan.

I find less is more when find S&R.

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Private Msgs are turned off to weirdos, loafs and brain drainers
  • #11,042
  • Mar 15, 2019 1:38pm Mar 15, 2019 1:38pm
Have a good weekend everyone!

(Left or Right?)
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"What would you attempt to do, if you knew your success was a certainty?"
  • #11,043
  • Mar 15, 2019 1:51pm Mar 15, 2019 1:51pm
Quoting Fxentropy
Have a good weekend everyone! (Left or Right?) {image}
Both
https://twitter.com/BeauBuyer
  • #11,044
  • Edited 3:28pm Mar 15, 2019 1:51pm | Edited 3:28pm
PASR

Quoting Alesiosc
hello Strat....would you mind giving me your views on the way im drawing trendlines please. i start of with a monthly line chart with TL's drawn as solid lines. ive then provided the same chart , just in candles. these i have been classing as my major TL's. (i know you class weekly TL's as your major). then i have drawn on the weekly line chart dotted lines, classing these as my minor trendlines, but, strength wise classing them as strong S&R with the solid lines being classed as extra strong (a bit like Trebor. im sure you remember them). ive then...
Hi Cameron,

Nathan (BeyondTheSea) has given you excellent advice.

This post tells me you are following THE PATH to identify our SR levels. Keep on practicing like in this post because it will help as you progress forward. There is a difference to what we do to practice than in actual real, live trading.

Understand that we are identifying these levels to show us the footprints of the Big Boys and nothing else. We are trying to identify where they start loading up their positions, where they add to their positions and where they take profits. We are NOT looking to identify every twitch, nook, cranny and knee jerk, only where and when the Big Boys move THEIR money.

Unfortunately, it is not as easy and simple as that because there are so many Big Boys each doing their ""thing"" which puts emphasis on different levels. There are Big Boys trading short time frames, Big Boys trading intermediate time frames and Big Boy investors trading longer time frames so we have to ""tune in"" to the levels on the time frame ""WE"" are trading. Do not worry too much about this until you get really serious about trading. For now, focus on identifying these levels and as Nathan correctly advises, they are PRICE areas or zones and NOT a specific PRICE level. I have explained the reasons for this many times but, to summarise, this is due to the Big Boys having to load and unload their positions in incremental volumes so as not to ""rock"" the Market.

So, for actual trading, we are only interested in the immediate support below where PRICE is now and the immediate resistance above where PRICE is now so those are the only levels we enter on our chart. When one of those levels has been breached, we go back and add the next level above or below and so on.

For actual trading on GBPUSD, identify and enter Big Boss (Monthly) levels.

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Then fine tune these on the Boss chart, identifying any other key levels

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Then fine tune those levels on the Worker chart, identifying any other key levels

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Always remember that in PASR, PRICE is King, Queen, Lord and Country and the most important PRICE level is the CLOSE
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,045
  • Mar 16, 2019 11:00am Mar 16, 2019 11:00am
Quoting BeyondTheSea
{quote} H Alesiosc, I try not to over complicate it.....
thanks BTS. i understand what you are saying....main point i got from you here i think is that S&R are not exact. they are just zones. looking at it this way makes more sense as i couldnt figure out the adjusting bit. think i got it now......

Quoting strat
PASR {quote} Hi Cameron, Nathan (BeyondTheSea) has given you excellent advice. This post tells me you are following THE PATH to identify our SR levels......
yes indeed Strat. i am following The Path, or trying my hardest to. i am used to drawing S&R but never adjusting and treating them like zones. that was a brilliant lesson on S&R. i think i have the idea now. thanks.
If at first you don't succeed, try, try again.
  • #11,046
  • Edited 2:04pm Mar 16, 2019 11:09am | Edited 2:04pm
ive been looking at AUDUSD. could i be right in my analysis or am i having a Bond moment.....

AUDUSD Weekly Hammer Dec 2018 with a close above support, BRN & lower Monthly TL. Long Term Trend UP.

Price being supported by Monthly TL and support.

Daily Hammer at support 0.7055 + confluence with BRN .7000. a stop loss below the daily hammer is way too much for me but with my eye on this, with a 50% retrace on the hammer i could manage a 150ish stop loss. Long target would be resistance 0.7893. Daily put in a double bottom with a slightly HL. Double bottom also formed on weekly and monthly chart, Jan 2016 & Oct 2018.

Looking at this daily chart again with fresher eyes i feel like im jumping the gun a little thinking about entries. Feeling like i should only be looking for PA entry above the 200MA and with more confirmed HH's & HL's. Also, is this hammer still valid as it is from beginning of 2019. I think it is if i see the correct PA above 200MA.


EDIT

!!! CORRECTION !!! after looking at these charts more and more i feel like i am breaking two of the golden rules. "Dont Trade Against The Trend" & " Dont Try & Pick Tops Or Bottoms". although recent PA justifies my above analysis. just have to wait patiently and see how things pan out.....
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If at first you don't succeed, try, try again.
  • #11,047
  • Mar 16, 2019 6:45pm Mar 16, 2019 6:45pm
Sunday thoughts

"How you do anything is how you do everything"

The little task in front of you matters. Nothing is beneath you. If you're doing something it is important.

And if you're going to do something you may as well do it right.

If you can't try hard in this moment, when will you?
"What would you attempt to do, if you knew your success was a certainty?"
  • #11,048
  • Mar 16, 2019 7:33pm Mar 16, 2019 7:33pm
Quoting Alesiosc
ive been looking at AUDUSD. could i be right in my analysis or am i having a Bond moment..... AUDUSD Weekly Hammer Dec 2018 with a close above support, BRN & lower Monthly TL. Long Term Trend UP. Price being supported by Monthly TL and support. Daily Hammer at support 0.7055 + confluence with BRN .7000. a stop loss below the daily hammer is way too much for me but with my eye on this, with a 50% retrace on the hammer i could manage a 150ish stop loss. Long target would be resistance 0.7893. Daily put in a double bottom with a slightly HL. Double...

Good, you realised you're jumping the gun. While price is at a very significant support there's nothing I can see to encourage me to go long. The Hammer a few weeks ago would have me looking for a higher low on worker but price hasn't really pushed up from this support level.
I want to see a good solid price action close on the boss before I would be looking to go long, currently I'm keeping an eye to trade the range, with a view to short a re-test of support if it breaks. I reckon it's pretty clear big boss is still down.
  • #11,049
  • Edited 3:02pm Mar 17, 2019 12:36pm | Edited 3:02pm
Quoting strat
PASR {quote}Equally, if there is something in there that turns your light on - let us all know - in case we missed it.
hi Strat. you posted the above in #5970 on your 1st thread. i think a very dim light may have been turned on in my head and thought i would share the thought.....after my post above where i think i got my analysis completely wrong with regards to direction on AUDUSD. ive been f12ing the daily since 11am GMT. its now 17:20 GMT. i have found it surprisingly easy to read PA when the 20MA is below the 72MA and the 72MA is below the 200MA at an angle between 90 & 135 degrees. even easier above 135 degrees & when the 20MA is above the 72MA & the 72MA is above the 200MA at an angle between 45 & 90 degrees. again, even better when the angle is below 45 degrees. this might not rock anyone elses boat but i found it to be an eye opener for me.....DSRI gives me an indication of a possible wobble or decreasing momentum or sometimes the start of a sideways move and a couple of times was the start of a major swing high......
If at first you don't succeed, try, try again.
  • #11,050
  • Mar 17, 2019 12:38pm Mar 17, 2019 12:38pm
Quoting Rub
{quote} Good, you realised you're jumping the gun.
thanks again Rub. i appreciate your input....i think i needed the second opinion to confirm my later thoughts.....
If at first you don't succeed, try, try again.
  • #11,051
  • Edited 10:33pm Mar 17, 2019 7:58pm | Edited 10:33pm
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Very sad.

I met Dick in the early 80s when he did concerts in Southern California. We shared a love of the Fender Stratocaster and raw, loud music.

He was a ""leftie"" and learned to play guitar on a right handed guitar. Instead of changing the strings around as most ""lefties"" do, he learned his music and chords ""upside down"". This meant that when he eventually afforded a left hand guitar, he had to change the strings around - you can see this on all his guitars - the 1st string is where the 6th string should have been etc. This caused undue stress on the truss rod in the neck resulting in intonation problems above the 12th fret so Dick went to Leo Fender in Fullerton, Sothern California, who made special "leftie" guitars for him. Then, his "heavy attack" style resulted in breaking the strings so Leo Fender had a string manufacturer make special heavy gauge strings for him. Having solved that problem, his next problem was his volume and tones constantly blowing tubes in his amplifiers so Leo Fender made special "Dick Dale proof" amplifiers for him.

Like many before him, he pioneered the way for what we have today.

God bless and rest in peace, Dick.
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,052
  • Mar 18, 2019 2:37am Mar 18, 2019 2:37am
Isn't he the guy who did the theme tune to Pull Fiction......
If at first you don't succeed, try, try again.
  • #11,053
  • Mar 18, 2019 3:11am Mar 18, 2019 3:11am
Quoting Alesiosc
Isn't he the guy who did the theme tune to Pull Fiction......
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Notice the lady...she's in fire! this kind of 'tone' was so hot at that time....i guess this is how my mother meet my father lol

Inserted Video
"What would you attempt to do, if you knew your success was a certainty?"
  • #11,054
  • Mar 18, 2019 3:37am Mar 18, 2019 3:37am
Nailed 2 out of 4 pairs i trade on the pound...
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"What would you attempt to do, if you knew your success was a certainty?"
  • #11,055
  • Mar 18, 2019 3:38am Mar 18, 2019 3:38am
Quoting Fxentropy
{quote} https://www.youtube.com/watch?time_c...&v=ZIU0RMV_II8 Notice the lady...she's in fire! this kind of 'tone' was so hot at that time....i guess this is how my mother meet my father lol https://www.youtube.com/watch?v=5yihbCtpt6Y
Classic........
If at first you don't succeed, try, try again.
  • #11,056
  • Mar 18, 2019 3:52am Mar 18, 2019 3:52am
Quoting Fxentropy
{quote} https://www.youtube.com/watch?time_c...&v=ZIU0RMV_II8 Notice the lady...she's in fire! this kind of 'tone' was so hot at that time....i guess this is how my mother meet my father lol https://www.youtube.com/watch?v=5yihbCtpt6Y
I like misirlou alot.
Just for the fun of it , listen to the original version ( personally I prefer Dale's version )
Inserted Video
  • #11,057
  • Mar 18, 2019 3:55am Mar 18, 2019 3:55am
Quoting bistolis
{quote} I like misirlou alot. Just for the fun of it , listen to the original version ( personally I prefer Dale's version ) https://www.youtube.com/watch?v=tT3CSg7HmmY
No doubt i like Dale's version better!
"What would you attempt to do, if you knew your success was a certainty?"
  • #11,058
  • Mar 18, 2019 5:40am Mar 18, 2019 5:40am
Pound and Dax , my morning is done!
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"What would you attempt to do, if you knew your success was a certainty?"
  • #11,059
  • Mar 18, 2019 9:58am Mar 18, 2019 9:58am
GBPNZD M5 Basic PASR

Trading the crumbs left over from London!

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15 YEARS OF PASR ON FOREX FACTORY!
  • #11,060
  • Mar 18, 2019 10:14am Mar 18, 2019 10:14am
Quoting strat
{quote} What time is this relative to London?
10:30am UTC, GBP Trend often paused/ended around that time lately.

Thanks bistolis for help answering.

Quoting Alesiosc
ive been looking at AUDUSD. could i be right in my analysis or am i having a Bond moment..... AUDUSD Weekly Hammer Dec 2018 with a close above support, BRN & lower Monthly TL. Long Term Trend UP. Price being supported by Monthly TL and support. Daily Hammer at support 0.7055 + confluence with BRN .7000. a stop loss below the daily hammer is way too much for me but with my eye on this, with a 50% retrace on the hammer i could manage a 150ish stop loss. Long target would be resistance 0.7893. Daily put in a double bottom with a slightly HL. Double...
Personally I think those 2 DSRI you had drawn are kind of "forced into the chart" rather than "its actually there". Those are confluences. We only trade PASR along with confluences, not trading the DSRI itself. I don't see a point that it is there. It just my opinion though.

On BB, the price basically isn't moving. It is still testing 0.7 BRN over and over. Looking left, it is a very important price that having confluences multiple time. Before the price actually take off, there isn't really any trend in BB. So, if we still want to trade this pair on worker, its going to be Basic PASR only.

On B, if I see an obvious SR I usually add it on my chart. It's probably optional base on how each individual trade. The momentum its still downward ever since BEEB 5 weeks ago. However, it is on the support. There are probably easier trade appearing on other charts sooner or later, don't need to stress yourself to trade this IMO.




M5 Trade Session
No trend on the time I watch today. I might as well paper trade practice basic PASR when I did not see any trend around to sharpen my PASR application.

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(1) Enter on running trend.

(2) Shooting star that I should've reacting on to exit but greed happened.

(3) A SORE THUMB BEOB but greed happened.

(4) A second SORE THUMB BEOB took me out.


Need more practice. Any advises are welcome.
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