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Strat's PASR Long Term, Stress Free Trading

  • #18,181
  • Jul 23, 2024 7:29pm Jul 23, 2024 7:29pm
Quoting TimothyWarne
AUDUSD 4hr Short - Setup If it wasn't for the current bearish SS looking like it was doing a liquidity grab into the daily SR line may have given this one a miss. Does anyone else feel uncomfortable taking trades that less than 1:1 RR? {image}
AUDUSD 4hr Short - Winner

Still trying to get my psychology around adding to trades/putting on less TP points. Should have looked for a re-entry as marked by the arrow below.
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  • #18,182
  • Jul 23, 2024 7:39pm Jul 23, 2024 7:39pm
Quoting TerryDawe
{quote} You're doing quite well, obviously you have been reading charts for quite some time. Regarding R:R, My trade decisions are based on retraces to value so a small stop should be adequate. If not my preference is to get stopped out right away since obviously my timing for entry was not good. I really don't like giving the market room to breathe with my money. Regards Terry After I posted, I thought of adding a chart of a Daily short using H4 as entry and the stop is on the H4 even though we are trading the Daily. {image}
I've been working on different strategies for a while now. Thought I was too clever for the market and tried Algo trading with indicators, but spent all my time back testing and never trading. Price action is the way to go as far as I can tell. The strat is great for entries but not enough of an edge individually. Hence my interest in PASR.

I am going to have to get better at looking at multiple time frames for entries as you suggest. Thanks so much for taking the time to inform me.
  • #18,183
  • Jul 23, 2024 7:52pm Jul 23, 2024 7:52pm
AUDCAD Short 4hr - Setup

2 Bearish shooting star candles suggests that price was trying to get up and rejected pretty heavily. Have set a TP just above daily resistance, as if it rejects that is a likely zone for it to reject.

Have also included the daily chart where you can see a push through and a rejection of the 50EMA, where if this trade enters you can see a good run down to the 100EMA/Daily Resistance. As well as a 212 Bearish Reversal.
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  • #18,184
  • Jul 24, 2024 9:21am Jul 24, 2024 9:21am
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  • #18,185
  • Jul 24, 2024 11:45am Jul 24, 2024 11:45am
Look for differences in PA at previous significant areas.
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  • #18,186
  • Jul 24, 2024 12:56pm Jul 24, 2024 12:56pm
MES 09-24 M60

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MES 09-24 M5

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Didn't realise I was on MES until I went to enter 1st trade so adjusted the number of contracts to equal ES S&P 500

The Gap gave it away that today, the S&P 500 is as weak as a chocolate weight lifter and continued to fall off the cliff from Daily Open!

Tried the first bounce off Daily Support in case it was a Rubber Band trade then scalped on M1 using Basic PASR into Daily Support in case PRICE made its way through it.

Entries and Exits on M5 and M1.
15 YEARS OF PASR ON FOREX FACTORY!
  • #18,187
  • Jul 24, 2024 12:58pm Jul 24, 2024 12:58pm
Quoting bistolis
{image}
Good to see you back in the saddle, bistolis, complete with your working Mojo!
15 YEARS OF PASR ON FOREX FACTORY!
  • #18,188
  • Jul 24, 2024 1:05pm Jul 24, 2024 1:05pm
Quoting TerryDawe
Look for differences in PA at previous significant areas. {image} {image} {image} {image} {image} {image}
BOJ still doing its stuff I see!

You make it look so simple and easy, Terry
15 YEARS OF PASR ON FOREX FACTORY!
  • #18,189
  • Jul 24, 2024 2:23pm Jul 24, 2024 2:23pm
Quoting TerryDawe
Look for differences in PA at previous significant areas. {image} {image} {image} {image} {image} {image}
Hi Terry, checking out your charts .. I know of course 4 Emas but I see 8 ,,, referencing the A/J Daily as an example. What are they all ? PM me if you wish.
  • #18,190
  • Jul 24, 2024 3:56pm Jul 24, 2024 3:56pm
Quoting TimothyWarne
CADJPY 4hr Short - Setup Might be a entering this one a bit early. However looks to be rejected by 20EMA, will move to a very tight SL if entered and doesn't immediately run. Edit for above post "AUDUSD 4hr Long - Setup" should read "AUDUSD 4hr Short - Setup" {image}
You got short here and your target was hit. However look at what price continued to do after that and continues to do now.
It's good you're focusing on price action using Rob Smith's methodology. However you can move to the next level if you start using Strat's methodology as taught on this thread.
The attached is a copy of my charts using a modified dynamic fibonacci that I have put together. I have found these levels can act as significant areas and would be considered S/R so price action at these levels would be PASR. Price action isn't always just one candle but the price action of several in some areas.
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  • #18,191
  • Jul 24, 2024 4:11pm Jul 24, 2024 4:11pm
Quoting Lou
{quote} Hi Terry, checking out your charts .. I know of course 4 Emas but I see 8 ,,, referencing the A/J Daily as an example. What are they all ? PM me if you wish.
Hey Lou,
There are actually 13 of them.
Check the AJ weekly which shows all of them.
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  • #18,192
  • Jul 24, 2024 4:24pm Jul 24, 2024 4:24pm
And here is the AJ using Strat's explanation of top down changes starting with BB.
Once you catch the worker and Boss turning in the direction of the BB, just follow it. The dynamic fib levels provide good areas for targets and addons depending on price action at the levels.
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  • #18,193
  • Jul 24, 2024 4:53pm Jul 24, 2024 4:53pm
Quoting TerryDawe
And here is the AJ using Strat's explanation of top down changes starting with BB. Once you catch the worker and Boss turning in the direction of the BB, just follow it. The dynamic fib levels provide good areas for targets and addons depending on price action at the levels. {image} {image} {image}
Once you catch the worker and Boss turning in the direction of the BB, just follow it.

Wow - what a fantastic opportunity to Fill Yer Wellies and Drain The Bank, Terry - hope you were in on it!

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15 YEARS OF PASR ON FOREX FACTORY!
  • #18,194
  • Jul 24, 2024 10:09pm Jul 24, 2024 10:09pm
So there is no stopping this until it stops...........
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  • #18,195
  • Jul 25, 2024 1:04pm Jul 25, 2024 1:04pm
M5 S&P 500 ES 09-24

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First trade was a loss
15 YEARS OF PASR ON FOREX FACTORY!
  • #18,196
  • Jul 25, 2024 11:11pm Jul 25, 2024 11:11pm
In a massive short bias the past fortnight, I know nothing about fundamental analysis, but is there an obvious reason? Guessing the USD is weak/strong? Or is money moving out of commodities?
  • #18,197
  • Edited 7:31am Jul 26, 2024 7:00am | Edited 7:31am
Quoting TerryDawe
So there is no stopping this until it stops........... {image}
Okay so here is where it stops for now with a solid hammer at significant area.
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  • #18,198
  • Jul 26, 2024 1:41pm Jul 26, 2024 1:41pm
M5 ES S&P 500 09-24

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Wild, erratic PA from NYSE Open as shown by large wicks and tails and flat Strat Shadow. Order returned to PA at 8:40am

First trade a loss - entered at the bottom of the M5 candle before it CLOSED where it quickly reversed.
15 YEARS OF PASR ON FOREX FACTORY!
  • #18,199
  • Jul 28, 2024 6:40am Jul 28, 2024 6:40am
If I may ask, been quite a while since I was active here (last post was in January after several years of inactivity), what are the current EMAs used for Strat shadow (if it is used at all)? Last one I remember was 20 and 72 day EMAs.
  • #18,200
  • Jul 28, 2024 10:09am Jul 28, 2024 10:09am
Quoting Svolacius
If I may ask, been quite a while since I was active here (last post was in January after several years of inactivity), what are the current EMAs used for Strat shadow (if it is used at all)? Last one I remember was 20 and 72 day EMAs.
what are the current EMAs used for Strat shadow (if it is used at all)?

Had you checked recent posts, you would have answered this yourself.

Check, read, learn and understand Terry Dawe's posts for everything long term PASR
15 YEARS OF PASR ON FOREX FACTORY!
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