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Strat's PASR Long Term, Stress Free Trading

  • #16,321
  • Mar 3, 2023 9:46am Mar 3, 2023 9:46am
Quoting Yule
Survive with 66 pips. Should've close at strong rejection candle {image}
To be honest with you . You should have closed there yes. And maybe check your calendar before you open trades. Because at that candle you had ISM PMI which could have resulted in -66 easily
  • #16,322
  • Mar 3, 2023 9:59am Mar 3, 2023 9:59am
Quoting bistolis
{quote} nice trade. although I wouldnt buy myself at that spot It worked out I guess. I tried something different after 2 failed attempts (first short breakeven. second one long but I messed up and I entered right after again) {image} I waited to see if that last candle would close above the highs. It didnt so I closed it
Open trade, price reached and close. Such simple and great R:R trade. I will focus harder to live up to your example.
  • #16,323
  • Mar 3, 2023 10:04am Mar 3, 2023 10:04am
Quoting bistolis
{quote} To be honest with you . You should have closed there yes. And maybe check your calendar before you open trades. Because at that candle you had ISM PMI which could have resulted in -66 easily
That's the reason why you didn't buy on the first swing low. A simple thing that I overlook again. Thank you for mentioning.
  • #16,324
  • Mar 3, 2023 10:50am Mar 3, 2023 10:50am
Quoting Yule
{quote} That's the reason why you didn't buy on the first swing low. A simple thing that I overlook again. Thank you for mentioning.
I would have bought here. The spread was already too wide ahead of the news. And being somewhat volatile I prefer to wait it out and see what happens next
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Alwayscheck out the news reports. You dont want to get caught with your pants down on NFP or FOMC or some report like those.
  • #16,325
  • Mar 3, 2023 12:31pm Mar 3, 2023 12:31pm
M2 EURO

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Think I'm done as there doesn't seem to be much gas left in the tank.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,326
  • Edited 1:46pm Mar 3, 2023 12:45pm | Edited 1:46pm
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Orderly PA on DOW, ABC down to the Previous session close - confluence with mR1D, then procession up to the W Pivot, good PA observing the trend on M1, M5 M30
Make sure losses are small and profits are bigger!
  • #16,327
  • Mar 3, 2023 1:29pm Mar 3, 2023 1:29pm
Homework!

Get your charts out, any instrument and time frame, and study this candle at support.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #16,328
  • Mar 3, 2023 1:57pm Mar 3, 2023 1:57pm
Quoting Strat
Homework! Get your charts out, any instrument and time frame, and study this candle at support. {image}
Dow daily
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M15 (similar?)
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  • #16,329
  • Edited 5:07pm Mar 3, 2023 4:51pm | Edited 5:07pm
Quoting Strat
Homework! Get your charts out, any instrument and time frame, and study this candle at support. {image}
Absolutely correct, just a few good example,for DOW
H4 perspective
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H1 perspective
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M30 perspective with US sessions candles, all candle bars tell the story, all are tradable
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Make sure losses are small and profits are bigger!
  • #16,330
  • Mar 4, 2023 2:33am Mar 4, 2023 2:33am
Its weekend. Relax and enjoy some music.

Strat knows this guitar make ...

Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,331
  • Mar 4, 2023 10:51am Mar 4, 2023 10:51am
Quoting bistolis
I had a papertrade earlier at the marked candles (short). I will let people comment on that and I will show how I use the strat shadow(hint) later , or over the weekend food for thought. while all the previous "bearish" candles failed, these didnt. {image}
Correct me if I'm wrong. I guess the trade position was in the possible reversal zone. The zone come from price that had reached the strat shadow and continue the down move.


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  • #16,332
  • Mar 4, 2023 12:14pm Mar 4, 2023 12:14pm
Quoting Yule
{quote} Correct me if I'm wrong. I guess the trade position was in the possible reversal zone. The zone come from price that had reached the strat shadow and continue the down move. {image}
Almost how I see it. I treat the strat shadow on M1 all the way to H4 and daily as SR zones. Yesterday price was most of the day inside the H4 shadow. And at that point I posted it hit the top of the shadow (while the H4 shadow was starting to get flat, which would happen if price would continue to push higher, which it did eventually)
The immediate trend I want to follow is up on M1 m5 m15, although that opportunity was a good one with 2 shooting stars forming at that price range. Price came back down to the 10ema within the shadow (you can notice those bounces up and down at similar spots no matter what time frame you look at, many times) and then it continued higher
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  • #16,333
  • Mar 5, 2023 8:13am Mar 5, 2023 8:13am
Quoting Mdjq8792
I have a reoccurring thing on which I need clarification. Is the marked candle a BUEB even if the open of that candle is higher than the previous close? {image}
Is the marked candle a BUEB even if the open of that candle is higher than the previous close?

Just reinforcing what bistolis posted, you have to be careful with candles on M1 and especially on the Euro - some mean a lot, some mean nothing while others are BOND candles. What is important is SR - look how the series of candles are holding that trend line

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15 YEARS OF PASR ON FOREX FACTORY!
  • #16,334
  • Mar 5, 2023 8:17am Mar 5, 2023 8:17am
Quoting Mdjq8792
{quote} Yes exactly, I only look for the candle patterns (Shooting Star, Hammer, BUOB/BEOB & BUEB/BEEB] at SR levels and take my direction from the higher time frame. I was simply curious about that specific candle because I see it often and I determine my entry on the 1m time frame. Thank you for your insights
I was simply curious about that specific candle because I see it often

When you see something recurring over and over, make note of it in your Journal and how it affects PRICE and PRICE STRUCTURE (if any). When you find it to be consistently reliable, please let us know.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,335
  • Mar 5, 2023 8:23am Mar 5, 2023 8:23am
Quoting bistolis
Now try to make some sense out of the candles at the arrows. Do they look bearish? {image} EDIT: you can see more like these on the same chart On another note. Using black and white for the candles makes a big difference for me psychologically. Rather than the usual green and red. Now the price structure is more neutral for lack of a better expression.
Using black and white for the candles makes a big difference for me psychologically. Rather than the usual green and red. Now the price structure is more neutral for lack of a better expression.

I also am a visual trader and have the same problem. Over all these years I have tried many different combinations of candle and background colours including changing to bars instead of candlesticks, but for me, each has its advantages and disadvantages so I stay with different shades of red and green. It all boils down to the same old, same old - find out what works for you and what you are comfortable with and stick with it.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,336
  • Mar 5, 2023 8:29am Mar 5, 2023 8:29am
Quoting Mdjq8792
{quote} I use STRAT's vocabulary to be on the same page as those who read through his material, to be understood and to not have to explain in detail what I mean. In his materials he says to look for those patterns, memorize them and open trades above/below them at SR levels in order to get in when the momentum already started in an attempt to minimize risk. That's why I specifically asked about it. With that being sad I appreciate you taking it a step further, but I'm not sure I can go there already without tripping if that makes sense. To answer...
I use STRAT's vocabulary to be on the same page as those who read through his material, to be understood and to not have to explain in detail what I mean.

Thank you.

In his materials he says to look for those patterns, memorize them and open trades above/below them at SR levels in order to get in when the momentum already started in an attempt to minimize risk.

Be careful. The shorter the time frame, the less reliable are candles, candle patterns, structure patterns etc. Do a refresher on my POWER OF TIME FRAMES.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,337
  • Edited 8:46am Mar 5, 2023 8:35am | Edited 8:46am
Quoting Yule
Survive with 66 pips. Should've close at strong rejection candle {image}
Survive with 66 pips.

Like bistolis posted, I have no clue as to why you bought where you did. Also, you must have balls and nerves of steel or are just "carefree" (maybe careless?) to sit through all that drawdown. Reinforcing bistolis again, it worked for you this time but may wipe you out at other times.

Are those blue rectangles from a "support and resistance" indicator? Be honest!
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,338
  • Mar 5, 2023 8:42am Mar 5, 2023 8:42am
Quoting bistolis
{quote} I would have bought here. The spread was already too wide ahead of the news. And being somewhat volatile I prefer to wait it out and see what happens next {image} Always check out the news reports. You don't want to get caught with your pants down on NFP or FOMC or some report like those.
I would have bought here.

Me too!

And being somewhat volatile I prefer to wait it out and see what happens next

The EURO seems to settle down most times after 15 minutes from a news event.

You don't want to get caught with your pants down on NFP or FOMC or some report like those.

That would be a horrible sight! Just lately, I am finding on the EURO that PRICE is becoming more sensitive to orange news so they have to be taken into consideration now.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,339
  • Mar 6, 2023 3:20am Mar 6, 2023 3:20am
Quoting Strat
{quote} I use STRAT's vocabulary to be on the same page as those who read through his material, to be understood and to not have to explain in detail what I mean. Thank you. In his materials he says to look for those patterns, memorize them and open trades above/below them at SR levels in order to get in when the momentum already started in an attempt to minimize risk. Be careful. The shorter the time frame, the less reliable are candles, candle patterns, structure patterns etc. Do a refresher on my POWER OF TIME FRAMES.
Thank you! The question I now have after the refresher on POWER OF TIME FRAMES & TIME FRAMES in relation to trading the M1 is if the Big Boss still gives the direction? I'm asking because in TIME FRAMES you say when trading the WORKER one can basically disregard the BIG BOSS and focus on the BOSS since it's controlling the WORKER. I'm assuming these "relations" transfer down the lower the timeframe is one is attempting to trade.

Am I correct then in stating that idealy the Daily & Hourly should be in harmony and I then look to take trades on the M1 in the same direction as the Daily & Hourly.
My Hourly SR levels would be my major SR for trading the M1.

P.S. What did Liverpool do to Manchester United?
  • #16,340
  • Mar 6, 2023 3:27am Mar 6, 2023 3:27am
Quoting Strat
Homework! Get your charts out, any instrument and time frame, and study this candle at support. {image}
EURUSD H1
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