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Strat's PASR Long Term, Stress Free Trading
- #14,822
- Nov 27, 2021 9:42pm Nov 27, 2021 9:42pm
- Joined Mar 2004 | Status: Senior Member | 1,634 Posts
{quote} I remember Pete's post. https://www.forexfactory.com/thread/...9#post13474289 Furthermore, 4H Support is both at the bottom and top of the control candles on the higher timeframes. {image}
Using the 4 hr chart on U/CAD you posted.... find the green candle 6 candles back from the last candle posted. It's low should be at the low red support line you drew, and the selected candle is crossed by the 9 ema and just to the right of the small red candle. Now ... using that green candle,
Take a regular fib retracement tool... put the zero Fib line on the low red line . Be sure it does not move. Now stretch the tool up along the selected candle until the 50 % Fib line touches the high of that candle. So the selected candle is bracketed by the 0 fib line and the 50 fib line. Lock the fib tool at that setting.
Note how price action points align with the Fibonacci tool values as time moved forward from the selected candle. Not always perfect but in my opinion a good framework for price on the 4H .
What do you think ?
- #14,825
- Nov 28, 2021 8:42am Nov 28, 2021 8:42am
- Joined Mar 2004 | Status: Senior Member | 1,634 Posts
{quote} Hey Lou, Good point, now go back on worker chart and set the BG reverse fib on the BUEOB October 21st. Since then price has followed the fib to its completion at 261.8 on Friday. Also looking at the strat shadow, price has moved from the start of the fib towards the shadow, then through it then away from it. That is the natural cycle of price using the shadow. Now that price is away from the shadow, the next step is to move back towards it. So we look for evidence of this to occur using price action. HOWEVER price is still moving up so still...
Accepting that the market is manipulated, what do you think ? Alogrithms based on Fibonacci ? Big Bank trade desks ? combination ? or something else .
- #14,826
- Nov 28, 2021 12:04pm Nov 28, 2021 12:04pm
{quote} Great insight Terry.. thank you kindly. It is so interesting that price hits Fib levels . Especially amazing when they are drawn per the chart . Starting on Oct 21 and hitting the 261.8 exactly on November 26. Accepting that the market is manipulated, what do you think ? Alogrithms based on Fibonacci ? Big Bank trade desks ? combination ? or something else .
I really have no idea what drives it, I just follow the shadow and PASR. The fib helps with confluence but doesn't always follow through. Works much better on some pairs and not so much on others.
Here is another solid example of long term movement with the shadow and BG fib added.
For effect I am posting two charts:
The first with the close stopping right on the 261.8
The second moving forward and starting a new BG fib at the candle following the close at 261.8.
- #14,827
- Nov 28, 2021 1:12pm Nov 28, 2021 1:12pm
- Joined Mar 2004 | Status: Senior Member | 1,634 Posts
- #14,831
- Nov 28, 2021 8:24pm Nov 28, 2021 8:24pm
- Joined Mar 2004 | Status: Senior Member | 1,634 Posts
So since this type of trading is long term there is no rush to get into a position until a solid PA signal presents itself at a SR level. On the attached chart the BG fib was started on the June BB candle. The swings on the worker are from 300 to 500 pips. The long term trend is down but If one were so inclined this pair could have been swing traded for the last six months on PA signals at SR in both directions. Of interest are the top of the swings and how the top of the shadow acted as resistance with confluence from the fib. Also note that the...
- #14,832
- Nov 28, 2021 9:33pm Nov 28, 2021 9:33pm
- Joined Mar 2004 | Status: Senior Member | 1,634 Posts
hi every one I find in internet this video who say in minute 4:30 best paper money investment its in chf because its the number one superior curency https://www.youtube.com/watch?v=yObXukkULCY but mister Strat say in older post about how swiss banck manipulated chf a few years ago and its not good for us to look in chf pairs but you think its diferent for physical chf money? what I try ask its if its good what the video say about buy chf and hold like asset investment, because mister Strat only refered to chf in manipulated charts when...
Then seeing that the JPY was the weakest over the last year ... Here is a Monthly chart of the CHF/JPY that goes back many years.
The candles with spikes are what Strat was writing about.
- #14,838
- Dec 6, 2021 9:23am Dec 6, 2021 9:23am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
DOW M10
15 YEARS OF PASR ON FOREX FACTORY!
LONDON FIX (or London WMR 4pm Fix )
This is a price that many banks agree to do business .Which is at 4 o'clock london time. simply said this might act as major level to watch. you can google and read many research material on it.
You can see lot of volume at 4 oclock.
So how to use it?
This level some times act as S/R
Trade today EURUSD
Google and you can read many materials written about this.
Rgds
Suranga
P.S
මූසිල...You watching and learning?
This is a price that many banks agree to do business .Which is at 4 o'clock london time. simply said this might act as major level to watch. you can google and read many research material on it.
You can see lot of volume at 4 oclock.
So how to use it?
This level some times act as S/R
Trade today EURUSD
Google and you can read many materials written about this.
Rgds
Suranga
P.S
.... DARSHANA
Focus, Patience, Discipline, Determination and Perseverance