EURJPY M5 BASIC PASR
i was using BASIC PASR support to 1st resistance ignoring the minor resistance (dotted line). Plan was to enter after confirmation of hammer, (be it a Bond hammer), if i remember correctly and exit manually up around 126.634. {quote}At the time of your trade, EURJPY was in a DOWN PRICE structure - see H-L-LH-LL........................what do you think follows?[/quote] LH....so price probably was never going to get any where near my target anyway..... {quote}Notice those long wicks at resistance - what do you think they are telling you?[/quote] well to be honest Strat. i dont think they told me anything as they seemed in the past.. {quote}Notice the long wick AT RESISTANCE on the candle after your entry - Why do you think that is and what is it telling you?[/quote] now i see. a clue that the sellers were taking control... {quote}Notice the Strat Shadow - something is happening with it...............................any ideas?[/quote] MA's are contracting. maybe the shadow is showing a bias towards the sellers. not sure... {quote}When you see PRICE "pumping" like that, don't wait for it to hit your SL - GET THE HELL OUT OF DODGE![/quote] i know now. in fact, i put this into practice today.... {quote}As bistolis has already posted, we need VOLATILITY to trade short time frames with PASR. Check out my VOLATILITY LIST or ask bistolis for the link to his volatility chart and only trade the top few.[/quote] i have your list and bistolis' list. the only problem i have is all the volatile pairs except GBPAUD all have spreads 5pips and above. this added to the minimum stop loss distances required by my broker dont allow for tight MM. GBPAUD does. so may stick with this whilst practicing {quote}When you post charts with your trades on always BLOCK OUT THE POSITION SIZE. I once posted a chart with my position sizes and account numbers on and ended up in all sorts of trouble![/quote] i will {quote}Keep at it - you will get there but you will need a good dose of PASR.[/quote] Thank You EDIT....well that quoting didnt work....i think you get my answers though Strat....[/quote]
ignoring the minor resistance (dotted line).
Cameron, you can't ignore ANY resistance! You have to be aware of it and WATCH what PA does around it - this is called PASR!
Plan was to enter after confirmation of hammer, (be it a Bond hammer)
There was no hammer, not even a Bond hammer. It was just a long legged doji - LEARN OUR PASR CANDLES
LH....so price probably was never going to get any where near my target anyway.....
Always identify the PRICE structure in your analysis.
well to be honest Strat. i dont think they told me anything as they seemed in the past..
Thanks for being honest. They are GOLD! They are telling us that sellers are at AND PROTECTING those levels - they are the FOOTSTEPS of the Big Boys which we look for!
MA's are contracting. maybe the shadow is showing a bias towards the sellers. not sure...
No maybe about it! Watch, study and learn what the Strat Shadow does relative to PRICE when you f12. While it is a lagging tool, it provides us with very important visibility for our analysis and trade decisions. I would not, never, ever leave home without it.
i have your list and bistolis' list. the only problem i have is all the volatile pairs except GBPAUD all have spreads 5pips and above. this added to the minimum stop loss distances required by my broker dont allow for tight MM. GBPAUD does. so may stick with this whilst practicing
Well you have a CRAP broker so get another. Ask the UK guys on here who they use.
Onwards and Forward on THE PATH
Disliked{quote} {quote}When you traded this, did you know what PASR strategy you were going to use and did you have a PLAN?Ignored
ignoring the minor resistance (dotted line).
Cameron, you can't ignore ANY resistance! You have to be aware of it and WATCH what PA does around it - this is called PASR!
Plan was to enter after confirmation of hammer, (be it a Bond hammer)
There was no hammer, not even a Bond hammer. It was just a long legged doji - LEARN OUR PASR CANDLES
LH....so price probably was never going to get any where near my target anyway.....
Always identify the PRICE structure in your analysis.
well to be honest Strat. i dont think they told me anything as they seemed in the past..
Thanks for being honest. They are GOLD! They are telling us that sellers are at AND PROTECTING those levels - they are the FOOTSTEPS of the Big Boys which we look for!
MA's are contracting. maybe the shadow is showing a bias towards the sellers. not sure...
No maybe about it! Watch, study and learn what the Strat Shadow does relative to PRICE when you f12. While it is a lagging tool, it provides us with very important visibility for our analysis and trade decisions. I would not, never, ever leave home without it.
i have your list and bistolis' list. the only problem i have is all the volatile pairs except GBPAUD all have spreads 5pips and above. this added to the minimum stop loss distances required by my broker dont allow for tight MM. GBPAUD does. so may stick with this whilst practicing
Well you have a CRAP broker so get another. Ask the UK guys on here who they use.
Onwards and Forward on THE PATH
15 YEARS OF PASR ON FOREX FACTORY!
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