Strat's PASR Long Term, Stress Free Trading

Quoting invelop

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In case we have an opening gap outside the wcc how is it considered? Taking into consideration only the closures is it ignored for the identification of a new wcc? Is it correct? {image}

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Quoting TerryDawe

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{image}

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Quoting TerryDawe

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Good example of WCC false break {image} {image}

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Quoting TerryDawe

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I was hoping someone would comment on my post regarding weekly control candles. However it doesn't appear that this is going to happen so here is an updated explanation of weekly control candles. Attached is the NZDUSD weekly chart with the last WCC highlighted. The marked WCC was in force until we got the first close outside of its range. There has been no new one formed because the requirement is that a weekly candle is followed by the next one closing within its range. So at the moment price has retraced back into the most recent one. {image}...

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Quoting Corinna

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I think I need to read again previous posts regarding WCC.

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Quoting Corinna

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{quote} {image} {image}

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Quoting TerryDawe

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{quote} Hello Thorsten, For starters my shadow numbers are 9 18 72 emas Price is currently within a daily control candle I use the shadow for direction and momentum In this case my opinion is that the up trend was confirmed with the bullish candle marked with the arrow Price has just reached the 200 (which is the BB 10ema) and I consider it pretty strong The SS formed yesterday is significant. I use failed SS and hammer signals as signals in themselves for a trade in the opposite direction If price closes above the SS and the 200 I see room for...

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Quoting TerryDawe

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{quote} You need to read again because this candle did close outside of the existing WCC range but until it has a anew weekly close outside of its range it is not a control candle. And since it did not get a weekly close within its range it was never a control candle. There seems to be a lot of confusion as to what a control candle is................

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Quoting TerryDawe

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This chart is being posted for those who are interested in learning and understanding Strat's PASR Long Term Stress Free Trading. It follows PASR from the beginning of January to the end of February and does not include control candles. 1: January open candle 2: January high (Shooting Star) 3: January low (Hammer) 4: January close 5: February open (BUEB) From here on we are only looking for buying opportunities 6: February close (right on January high and in line with 9 above strat shadow and 18 crossing 72) Study price action throughout the two...

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Quoting TerryDawe

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This chart is being posted for those who are interested in learning and understanding Strat's PASR Long Term Stress Free Trading. It follows PASR from the beginning of January to the end of February and does not include control candles. 1: January open candle 2: January high (Shooting Star) 3: January low (Hammer) 4: January close 5: February open (BUEB) From here on we are only looking for buying opportunities 6: February close (right on January high and in line with 9 above strat shadow and 18 crossing 72) Study price action throughout the two...

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Quoting Deichkind

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{quote} Hello Terry, Thank you for your contribution, I can always learn and take a lot from it. Am I right in understanding that you can use the HIGH, LOW, OPEN and CLOSE of the monthly candles as resistance/support? It is very impressive what formations arise in such places and how such setups can also be used together with the shadow, or the breakout from a WCC. Do you also use the high, low, close and open of weekly candles? best regards Thorsten

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Quoting TerryDawe

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{quote} Let me suggest you switch to line charts when doing your analysis on top three time frames, I think you will find it eye opening to be used in conjunction with candles. Greatly helps to see patterns forming when the wicks are removed. Regards Terry

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