"BTW, it is said that if you can remember the sixties then you weren't there"
Whoever told you this is full of rocking horse sh*t!
15 YEARS OF PASR ON FOREX FACTORY!
Strat's PASR Long Term, Stress Free Trading 17,952 replies
M5 PASR Trend Trading Strat 95 replies
What you need for trading: indis, a strat & good music 27 replies
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Short Term / Medium Term / Long Term? 3 replies
DislikedLet me take a shot at this one and regurgitate what I see.
Yesterdays Daily bar was almost a pin bar but not really because it did not open and close inside the previous bar. The long tail almost hit weekly support i have at 2165 and the body closed between weekly and monthly support lines and near the BOSS20
In my mind, it is not clear where it will go from here. May go down again to retest the lower support or may reverse from the current support and the BOSS.
My opinion is to wait and see which way it declares and look for some real PA to...Ignored
DislikedHi Strat, thanks for your wonderfull thread, it's just started but i've learned already a lot. The interaction from the price with the ma's is just unbelievable. I'm trading naked (charts) for 2 years now on the 1H frame. I'm profitable but i spend a lot of screen time. I'm looking forward to your next lessons! The thread is a bit of track at the moment (15 min and 1 h charts) but it shows only that discipline and patience is the most difficult to learn.Ignored
Dislikedi was just trying to look at a chart to see the stations, so thought i would post a couple of charts.
this is what i found
cheers
geoffIgnored
DislikedIf I can ask, why did YOU choose these levels? Remember 95% of traders lose money...Ignored
DislikedI am kind of like you when you were 22, I am 19 and in university, I randomly stumbled upon a forex website a few months ago and I got hooked. Now I almost spend more time studying forex than my school work. By attending a business school for two years now I am actually being somewhat put off by the prospect of the traditional corporate lifestyle, of always living as means to an end, studying my ass of to get good grades, to get a good job, working my ass of in a job I dont like to get that promotion etc etc. The forex trader lifestyle really started...Ignored
DislikedLance,
purely looking back in time to find area's of congestion which indicates to me this is the area where the currency is taking a breather and loading up with passengers then when it leave the area it is either going north or south, as the doctor say's when it stops going north it must be going south????
and in doing this lance i just notices how these area's from the past still had an effect on the price when they entered again.
cheers
GeoffIgnored
DislikedWeekly: There have been two previous tests of 141.70 in this current weekly uptrend, and the last candle formed a hammer on the 136.50 support area, as well as the 61.8% fib. A third test of 141.70 seems likely.
Daily: Price has made large bearish surges that were unable to hold, showing up as huge lower wicks on the previous two candles. The low of the lowest wick was 134.80, which corresponds almost exactly with the 38.2% fib and the BOSS 20. The last bar to close was an inside bar, with a fairly long lower wick as well. Neither...Ignored
DislikedI wasn't necessarily disagreeing with you, but I respectfully ask again. HOW did you come up with these levels? If 95% lose money you have to see things that 95% of traders don't.
You'll will see it. I know it.Ignored
DislikedIn addition to Amin's analysis I would like to point out an inverted head and shoulders pattern on the weekly
It gives more confirmation for a move long on the break of the neckline
AttachmentIgnored
DislikedAs i percieved it at the time yes sir!
i know it wasn't a long term trade, i was only in the trade a couple of days, but i didn't have any misconceptions that what i thought, was the way the market had to go, i didn't want to mary my trade or my direction, but i did trade this trade from the daily and higher time frame from go to woe, using s/r and candle patterns.
was i wrong?Ignored
DislikedWaiting for the next bar is good and often on a Friday, with lower volume, you get an IB, so an opportunity with a discount price may be available later.
Yes, there is every chance the next bar may again re-test the low but for me, everything, including volume and where the hammer closed (smack bang on psycho 1.2400 major support) is sufficient for me to put in my buy order. As long as we use good management in placing trade entry and SL we will be protected as best we can.
The only downside for me is the over head resistance at the 20 and psycho...Ignored
DislikedStrat, if you just edit the first page and reference people to the attachment paper clip for the most recent index, that will be the easiest way to get newcomers the latest version.
I thought you might like the "one hit wonders" tab I added. Not that your inspirational revelations are destined to rocket to the top, then dissolve into oblivion in the style of Carl Douglas and his famous one hit wonder Kung Fu Fighting circa 1974. Sorry, it's the closest one I could find to the 60's.Ignored
DislikedShanghai bj, I don't agree with the J16 qualification as you have written here - but that's OK - there is more than one way to skin a cat. They can show me hundreds of their definitions of what works as can I so what is important, is what works for YOU.
Waiting for the next bar is good and often on a Friday, with lower volume, you get an IB, so an opportunity with a discount price may be available later.
Yes, there is every chance the next bar may again re-test the low but for me, everything, including volume and where the hammer closed (smack...Ignored
DislikedLet's watch to see if we can get that better entry price. At this entry (Above the previous candle high) I would have to pass up the trade due to my account size.
I was watching this one too strat. It's good to have senior confirmation every once in a while.Ignored
Disliked"'stop would need to be below that level with a Buy Stop above the blue box at"'
Dan - NO!
The hammer is what is important - not your blue box. To be SAFE, with the LOWEST RISK, your buy stop should go above the high of the hammer bar. This way, if it is NOT the low, then you will not be filled (stop running excepted). If you put it anywhere within the body of the hammer, you could get filled with an IB and then if prices go lower, get dragged lower with it.
The same with your SL - it HAS to go below the low...Ignored