NzdUsd 4H Basic PASR trade in progress...
PASR Works
PASR Works
Strat's PASR Long Term, Stress Free Trading
- #13,904
- Feb 5, 2021 7:10am Feb 5, 2021 7:10am
Not 5 in a row but 3 in a row should suffice for now. All 3 now moved to breakeven as it is Friday afternoon in my part of the world and the sun is over the yardarm. Time for a glass of red...
Good weekend all...
Pete
Good weekend all...
Pete
{quote} Thanks, Rub, for your reply. Of course I would look at BB and B immediate trends if I finally understood where they wereCould you or somebody else please answer if I mark immediate trends correctly or not at all? Monthly immediate trend in the RED box is DOWN, Weekly immediate trend in the BLUE box is up. Are these immediate trends or not? {image} {image}
For consideration by the gallery. Made a mistake on the second chart, it's should be big boss, not boss, saying immediate trend is up. I know what I'll be doing based on my analysis for next week. The worker candle is exactly the sort of smack you in the face obvious I like, but would you trade it? {image} {image} {image}
I value guys when you share your insight on pairs.
- #13,914
- Edited 8:09am Feb 6, 2021 7:51am | Edited 8:09am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #13,915
- Feb 6, 2021 8:08am Feb 6, 2021 8:08am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
{quote} Hi Ben, Good analysis and good question. I was going to answer this but realised you were asking the "gallery" to participate so I will leave it for them and see what they come up with. Some advice Ben - BELIEVE and TRUST in PASR - as Pete posts - PASR WORKS! The reason for this is your previous posts and especially this on these charts: "Resistance turned support?" There is no need to question these levels because PRICE ACTION has proven them - can you see it?
Thank you strat, I'm hoping to get some comment from the newer people and get the gears ginding.
I thought the question was more an implied "can you see it?", although now I think about it it's probably not so clear.
{quote} Thanks for your analysis. I see the same. So maybe I am not as lost as I thought
EDIT: It's important to note, although I redrew everything for those charts, all those levels were drawn from end of month/end of week analysis and not altered to fit during the week. They were just copied and expanded upon to make it clear what I was seeing.
- #13,917
- Edited 6:43pm Feb 6, 2021 6:29pm | Edited 6:43pm
For consideration by the gallery. Made a mistake on the second chart, it's should be big boss, not boss, saying immediate trend is up. I know what I'll be doing based on my analysis for next week. The worker candle is exactly the sort of smack you in the face obvious I like, but would you trade it? {image} {image} {image}
I will not..
Reasons
1. Boss confirmed Swing High just couple of Bars earlier. But NO confirmed swing low yet. Means Boss immediate thrend is still down
2. Strat shadow going side ways
3. Plus we have another major Resistance just above the candle (if you look more to the left to the chart then this level seems major level to clear)
Focus, Patience, Discipline, Determination and Perseverance
- #13,919
- Edited 4:04am Feb 7, 2021 3:37am | Edited 4:04am
A good exercise here is to compare and contrast the daily chart I posted with these lower time frame charts. They are of the same pair. look at how much information there is. What can you see? let me know your questions G
Further to the good analysis from Suranga on your charts I would like to add what I see on your charts. My observations below:
- By going up to the Weekly timeframe for a Birdseye view on the S/R levels you marked on the daily chart one can see that every time those levels were broken (blue arrows on the chart below) they were also retested. (Blue ellipses on chart below.) This shows how resistance became support thus providing us with levels where to look for PA.
- Then dropping down to the 4H charts with the S/R levels you posted....first the Birdseye view the ellipses again clearly showing how and where resistance became support:
- Now the zoomed in view of the first 2 ellipses showing PA at SR = PASR. I have not provided zoomed in views of the other ellipses on my chart but anyone who is interested can do the same exercise to find the PA in the other ellipses based on the SR you have posted for us.
- Final takeaway - you need good S/R levels where to look for PA which can result in high probability trades. (PASR) As you mentioned in the one post - you are marking these levels for FUTURE USE. Thanks Baba G, this was a good post and exercise you presented to us.
- Daily and 4H charts below with the Strat Shadow to provide another view:
Regards
Pete
