Disliked{quote} Hi Sanji There may not have been a pullback on the timeframe you posted but the structure of the downtrend is the perfect sawtooth pattern Strat often pointed out. Also if you dropped down to 15M you would have seen a pullback to the Strat Shadow to enter on. "Power of Time Frames!" Regards Pete {image}Ignored
Strat's PASR Long Term, Stress Free Trading
{quote} Hi Udkox Sticking with NzdUsd above...and I know it is after the fact but do the 3 time frame analysis and see the Big Boys footsteps. On each time frame look to the left and what do you see? Big Boss: {image} Boss: {image} Worker: {image} Regards Pete
Big Boss:
Boss:
Worker:
To sum up, I don't see any good reason to short this. The SHORT TERM is up in all charts, PRICE is in STRAT's shadow and the RR to the next support is bad (1:1).
What am I missing?
Thanks again.
- #13,464
- Sep 25, 2020 3:05am Sep 25, 2020 3:05am
{quote} Thanks Pete. To be honest, I never understood what footsteps are. I searched for posts that mentioned, it in hopes of finding an explanation, but couldn't find one. Anyway, here my thoughts (ignoring the last candles, which we could not know what they looked like). Big Boss: {image} Boss: {image} Worker: {image} To sum up, I don't see any good reason to short this. The SHORT TERM is up in all charts, PRICE is in STRAT's shadow and the RR to the next support is bad (1:1). What am I missing? Thanks again.
BIG BOSS: after retracement of last swing down PRICE hit resisstance
BOSS: is controlled by BIG BOSS remember? what candles marked in blue rectangle at RESSIST zone telling you? There are sellers coming in
WORKER: is controlled by BOSS remember? So after PRICE failed to break near term RESSISTANCE in worker created double top and changed direction to BOSS and BIG BOSS, also it is far away from STRAT SHADOW so it is indicate us that rubber band effect will come to place and PRICE will retrace to it
PURE counter trade now your PLAN and money and trade management comes in (Depends on YOU on your experience) so it depends if you go for BASIC PRICE ACTION and close at minor swings or you want to trade BOSS swing or what is your PLAN?
Guys donīt try to look for what is not there. remember SIMPLE!
- #13,465
- Sep 25, 2020 5:48am Sep 25, 2020 5:48am
DR JOE REMINDER
From this came his very simple method:
Buy when it goes up and sell when it goes down.
He went on to make $millions doing this and I subsequently learned he passed away a very rich and contented man knowing that he had beaten the whores at their own game.
I learned all this in a few telephone conversations with him but he lost his patience with me when I still questioned his method. He wouldnt answer my calls so I reverted back to faxes. Again, I cant remember it word for word but I sent a simple fax saying:
How do you know when to stop buying?
On the same fax was his handwritten reply, When it stops going up.
So I wrote on it, How do you know when it stops going up?
His handwritten reply, When it starts going down.
So I wrote on it, How do you know when it stops going up and starts going down?
His handwritten reply, When people start selling.
After going round like this in riddles, I pleaded with him to just give it to me straight.
He sent a fax saying this would be his last communication with me and that if I didnt understand how to buy when it goes up and sell when it goes down, I had no business trading.
His final paragraph was one which I ignored, like everything else he told me, until a couple of years ago when I realized what a dumb, stupid, arrogant, stubborn idiot I had been:
He said I would only be wrong twice using his simple method:
Once when you buy at the top and once when you sell at the bottom.
From this came his very simple method:
Buy when it goes up and sell when it goes down.
He went on to make $millions doing this and I subsequently learned he passed away a very rich and contented man knowing that he had beaten the whores at their own game.
I learned all this in a few telephone conversations with him but he lost his patience with me when I still questioned his method. He wouldnt answer my calls so I reverted back to faxes. Again, I cant remember it word for word but I sent a simple fax saying:
How do you know when to stop buying?
On the same fax was his handwritten reply, When it stops going up.
So I wrote on it, How do you know when it stops going up?
His handwritten reply, When it starts going down.
So I wrote on it, How do you know when it stops going up and starts going down?
His handwritten reply, When people start selling.
After going round like this in riddles, I pleaded with him to just give it to me straight.
He sent a fax saying this would be his last communication with me and that if I didnt understand how to buy when it goes up and sell when it goes down, I had no business trading.
His final paragraph was one which I ignored, like everything else he told me, until a couple of years ago when I realized what a dumb, stupid, arrogant, stubborn idiot I had been:
He said I would only be wrong twice using his simple method:
Once when you buy at the top and once when you sell at the bottom.
I believe I have found a similar setup as my previous post.
Big Boss:
Month is about to finish, and PRICE formed a BEARISH ENGULFING BAR on RESISTANCE. After also hitting the 200 EMA.
Boss:
PRICE trapped in a WCC.
Worker:
PRICE tested the RESISTANCE many times. Currently sitting on DYNAMIC SUPPORT (72 EMA). Lots of space to fall to 1.1368. 
Unfortunately, PRICE already rallied down to the bottom of the WCC, even if it breaks and falls lower, it's half way to next SUPPORT. This gives a bad RRR, so nothing to trade here.
Let me know what you think.
Cheers.
Big Boss:
Month is about to finish, and PRICE formed a BEARISH ENGULFING BAR on RESISTANCE. After also hitting the 200 EMA.
Boss:
PRICE trapped in a WCC.
Worker:
PRICE tested the RESISTANCE many times. Currently sitting on DYNAMIC SUPPORT (72 EMA). Lots of space to fall to 1.1368.
Unfortunately, PRICE already rallied down to the bottom of the WCC, even if it breaks and falls lower, it's half way to next SUPPORT. This gives a bad RRR, so nothing to trade here.
Let me know what you think.
Cheers.
- #13,468
- Sep 27, 2020 8:36pm Sep 27, 2020 8:36pm
I believe I have found a similar setup as my previous post. Big Boss: Month is about to finish, and PRICE formed a BEARISH ENGULFING BAR on RESISTANCE. After also hitting the 200 EMA. {image} Boss: PRICE trapped in a WCC. {image} Worker: PRICE tested the RESISTANCE many times. Currently sitting on DYNAMIC SUPPORT (72 EMA). Lots of space to fall to 1.1368.{image} Unfortunately, PRICE already rallied down to the bottom of the WCC, even if it breaks and falls lower, it's half way to next SUPPORT. This gives a bad RRR, so nothing to trade here. Let...
This is a nice trade on EURUSD 1H.
Price was out of monthly resistance zone (I have no entry on EURUSD).
I am wait for price action near weekly support zone I drew between 1.16000 and 1.15500.
1H
W
Best regards
Sanji
- #13,471
- Sep 28, 2020 12:42am Sep 28, 2020 12:42am
I believe I have found a similar setup as my previous post. Big Boss: Month is about to finish, and PRICE formed a BEARISH ENGULFING BAR on RESISTANCE. After also hitting the 200 EMA. {image} Boss: PRICE trapped in a WCC. {image} Worker: PRICE tested the RESISTANCE many times. Currently sitting on DYNAMIC SUPPORT (72 EMA). Lots of space to fall to 1.1368.{image} Unfortunately, PRICE already rallied down to the bottom of the WCC, even if it breaks and falls lower, it's half way to next SUPPORT. This gives a bad RRR, so nothing to trade here. Let...
My view...
Big Boss:
I think it will help if you expand your view of the Big Boss Chart. You need to get the 50000 feet view. Look what price did in the past at the level where the 200 level is resisting price. That level is behind us for now so we need to see where the Big Boss candle will close this month.
Boss:
I agree with your analysis on the WCC but also look at the long wicks of the candles marked . What does that tell you?
Worker:
Look what price did at the top of the WCC where the long wicks of the Boss occurred. Then there was a shooting star with a confirmed high followed by price making a lower high. So there was a chance to do a basic PASR trade down to the bottom of the WCC especially if you dropped down to a lower time frame as indicated by Sanji to get a better entry.
Now we need to see where price will go. Will it close below the WCC or move back up to resistance?
I hope this helps
Pete
- #13,473
- Sep 28, 2020 1:40am Sep 28, 2020 1:40am
USDJPY 1H Demo Trade EDIT: I added the 4H chart. {image} {image}
I'm looking at my levels on the USDJPY chart and redrawing them.
I usually deal with levels of larger timeframes. Example: 4H, Daily levels for trades on 1H.
I found the entries well but I didn't enter. Here are examples of my levels on 4H chart and possible entries on a 1H chart, they are earlier than my entry posted.
Can anyone tell me which entry fits this strategy better?
I am very happy to be shared with everyone.
All comments are appreciated!
4H
1H
Best regards
Sanji
- #13,476
- Sep 28, 2020 5:52am Sep 28, 2020 5:52am
- Joined Sep 2016 | Status: Inactive | 1,531 Posts
Sometimes it is easy. (Or looks like it is on hindsight)
