Strat's PASR Long Term, Stress Free Trading

Those were nice entries in EURGBP. I wasn't much near the screen today.so didn't catch any.

That's the one

EDIT: Well that definitely didn't work out! Bloody politicians opening their mouths...

Hope you got out at break even at least..!

M5 trend trading

EURJPY



Suranga

Hope everyone had a good trading week! Time for some end of week/month analysis while my wife is busy..

EURCAD
Big Boss: In July, Price closed below Strat Shadow. In August, Price retested the shadow and rejected, still closing below the Strat Shadow.

Boss: Price retested 1.48-1.49 resistance+200ema+Strat Shadow and failed, resulting in a BEOB.

Worker: Finally out of that directionless consolidation! Multiple entries are seen, but some can result in a loss depending on your Stop Loss.

Continue to monitor this pair, now that the Big Boss, Boss and Worker are in Harmony.

EURJPY

Price is still in a downtrend and has reached 117 support, let us see if it holds. If it doesn't, then 114 would be the next target of the Big Boys.

EURNZD

Big Boss: Bullish momentum to the upside that tested 200ema.

Boss: Price closed as a doji around 1.74-1.75 region, unable to break through resistance.

Worker: These 2 huge BEOB candles tells us that the train to the upside has ended. Look for swing trades to the downside.

EURAUD
Big Boss: Price tested and closed below 1.64-1.66 resistance, resulting in a less-than-ideal shooting star (position, higher close than previous candles).

Boss: Price finally broke out of WCC rather convincingly with a BEOB.

Worker: Looking at the Worker chart, let us analyse what resulted in the BEOB of the Boss chart.

1st arrow: 1st big bullish candle, may be an exhaustion candle.
2nd arrow: BEOB. Trend may be over (but not sure. need further confirmation).
3rd arrow: Another momentum to the upside that took out the high of the BEOB.
4th arrow: BEOB again, but too near to Strat Shadow.
5th arrow: Nice BUOB supported by Strat Shadow. (which I took).
6th arrow. Price opened higher with a gap, took out the high of previous BEOB (4th arrow) and closed at Strat Shadow. Very high chance of uptrend being over.
7th arrow: Price closed inside Strat Shadow and WCC.

If we are looking at H4 for entries, perhaps this is the candle to enter, although the size of it is pretty meh, and still supported by the Strat Shadow.

Anyway, trading is a marathon, not a sprint. There is no prize for entering on the first sign of change of trend. Look for future opportunities to the downside.

GBPUSD

Price is stuck between 1.20-1.23 area. The current immediate trend to the upside tested the 1.23 area and was rejected. Let us wait for clear intentions by the Big Boys before we enter.

Big Boss: Doji at support.

Boss: Rejection of 1.23 resistance. Confirmed upswing.

Worker: Meandering around 1.20-1.23 area.. Nothing of interest..! We wait!

AUDUSD

Price tested and is at support around 0.67 area.

What is of interest is the Weekly chart, which closed for the 4th time as a doji with a tiny gap. It tested 0.67 for the second time and failed. Is AUDUSD oversold?

AUDCAD

Same observations as AUDUSD, but multiple BUOB are observed which have not been taken out yet. I am waiting for a 'sore thumb' setup.

Hi there!

It is my first time posting on the thread /a bit shy/. My story is like everybody here. Started trading 3 years ago with stocks and i was really "Lucky" for a few months i made a lot of money 800-1200$ which is few monthly salaries in my country. And guess what? Yes indeed...i quite my job at the time thinking that i am new wonder in the world of trading. At the time i was 22 years old eager for successes. We all did something stupid in our 20's. I lived in poverty for 1 year waiting for big profits and wonders to come while slowly but unavoidable my account died. It was a rough year. Since then i started to look for more books, courses and etc to learn how to trade. After many strategies with indicators i really wanted to learn how to trade with Price action and no lagging information and after many months i found your thread. I got more matured and gained more life experience and moved on! I started to take care not only for my trading but my mind and thoughts and what i attract.

I am being lurking for quite some time now /around 6-7 months/. I have been reading old thread, but did not finished it yet. I haven't posted here, because i took the advice to other newbies to start from the beginning . Thank you to all the contributors and mostly Strat for putting so much work and energy here! I started paper trading few weeks ago and i keep journal with every trade /now around 100/. I use OneNote app for this and also i keep all of the important notes and post from strat and other guys. I am mostly interested in trading WK -Big boss, D1 boss and 4hr-worker. I was hooked from the very first page. I will post charts, when i spot a trade. Still long way to go...no need to hurry. Thanks to everybody....a read every post for a last couple of weeks and kept notes from everybody. i fully believe that i can reach level of knowledge to help other trades. Journal keeping is very good thing to do not only in trading, but in life too. So newbies like keep one!

Sorry for my bad english!

Have a good day!
Emil

Hi Emil, welcome to the thread!

Feel free to ask questions so that everyone can learn as well. With Strat himself being less active in the thread I believe we need to learn more from each other, no matter how far we are on the Path. Each of us look at charts uniquely from one another, so it can be an eye opener when we look at other people's chart.

Would be interested in how you do money management, because I believe it is the one that makes or breaks any system.

Regards,
Miku

Hi Emil,

Welcome ! Just thought to drop a add on to Miku's reply to you. even though Strat is less active here these days don't get discourage even a bit. Because Strat already gave all he can (mostly) and those are buried in THE PATH. we just need to keep reading.

So enjoy the ride.

Suranga

Thank you for welcoming me!

It is a pleasure to be here.

MikuSS, I usually risk 0.5-1% per trade. And i always ask myself if i am comfortable with the risk. Back in the days i did not have any money management and destroyed my account. Thanks for your posts there is much to learn from it. I keep notes review them every weekend. i do use testing software, because it helps me to build some confidence also watching charts for paper trading.

Charts comming soon!

best regards,
Emil

SIMPLE GUIDE TO TRADING PASR

Attached Image (click to enlarge)

Hi guys. I'm working my way through this thread and frequently come across references to the 'original' thread. Do I need to reference / read this 1st or is the information needed all within this thread?

Please do yourself the service of starting with the old thread, read, see, understand. your bottom line will thank you.

Hate to be cheeky, but do you have a link?

he he,No offence mate...Did you read the first post of this thread?