Terry's Journal

TerryDawe, happy to see you back here. When I saw that you are not going to post in Strat's thread, I thought that I am going to miss your posting. Thank you for introducing Rod Smith's 'The Strat" to us.

You are welcome Corinna,
Just for clarification I still follow Strat's teachings but have enhanced my learning and understanding of price action. One never stops learning if one is to be successful in trading as with everything else in life.
Regards
Terry

Good morning TerryDawe,
Happy new month greetings to everyone in the house.
Looking at how much you have grown in your knowledge of Price Action,
It is just so interesting. Moving from Strat to 'the Strat' seamlessly is quite intriguing.
I hope you will help us also in our quest for knowledge by simplifying your new trading style enough for us to understand as well.
Thank you

Emeka

[quote=TerryDawe;14710300]I am resuming my journal starting January 2014: I started posting my long term analysis on Strat's thread but too much focus on short term trading so am resuming my journal. I am also including my newly learned understanding of price action from Rob Smith aptly name "The Strat" which is short for The Strategy. It is not in any way affiliated with Strat himself but Rob really simplified price action for me. I am continuing to follow what I have learned from Strat as this has been invaluable to me. I find that by adding my new understanding of price action to what I have learned over the years from Strat will only make me more successful in my journey.......

Hi Terry,
Thanks to Lou, I just discovered your thread here. I also have recently discovered The Strat, after getting myself tied up in knots having studied and practised every type of complicated trading and chart setups using every indicator known to humankind for way too long...
I have learned enough to know that price moves due to an imbalance in buy/sell orders aka liquidity, and that's the only reason for price to move. From that understanding I have looked for a simple, clean chart style that reflects that. In that process I stumbled across The Strat, and am happy to have found both Lou and yourself here.
I understand this is your journal and won't intrude on that, but just wanted to say it's great to find like-minded people here in FF. If you would be happy for me to contribute in any way, please let me know.
Cheers
MantisClaw

GU Short trade I took yesterday utilizing price action and The Strat. After weeks of consolidation/accumulation of orders, finally there was some good imbalances between buy & sell orders, with USD being bought and everything else being sold
As a 'reformed' (?) haha LTF scalper, this is very new to me. But it seems refreshingly easier/less stress method of trading. I struggled to NOT look at M5/M1 charts though during the trade!
Please let me know your thoughts. Open to learning more.
Thanks
MantisClaw

[quote=sonicvista12;14744688]GU Short trade I took yesterday utilizing price action and The Strat. After weeks of consolidation/accumulation of orders, finally there was some good imbalances between buy & sell orders, with USD being bought and everything else being sold As a 'reformed' (?) haha LTF scalper, this is very new to me. But it seems refreshingly easier/less stress method of trading. I struggled to NOT look at M5/M1 charts though during the trade! Please let me know your thoughts. Open to learning more. Thanks MantisClaw {image}[/quote

Hi sonicvista12,
Can you please let me know the indicator which we use to draw the rectangles and trendline. I had it last time, but after changing computer, it was lost.

Thank you.
Corinna

hi Corinna
it's called 'Color Levels' for MT4 and 'Color Levels Indicator MT5' for MT5 (obviously)... customisable colours and widths of lines etc.
MantisClaw

Thank you.

daily fakey, perfect setup from start of the week
Also weekly supporting with its fakey
Therefore first target is top of weekly IB
Good addon entry on H4 at arrow or if missed first entry on daily
SO, first thing to do is identify MB and IB on weekly to confirm entries and targets before price starts to make its move....
This action was all within the WCC started March 2nd

Watchlist next week
Daily IB after rejecting strong resistance

consolidation ending in PA to go long:
Three inside candles, third one being a forward plunger

USDJPY
two bar fakey

GBPCAD

GBPAUD

Tuesday update
Wednesday

Add BRNs

CADJPY:
Daily fakey, entry on break of inside candle:

EURUSD top down:
Monthly fakey
3 2 reversal on weekly
Followed by a daily minor fakey
EOW May 2nd weekly major fakey

GBPUSD top down:
Monthly inside candle for now
Weekly RP