Strat's Long Term Stress Free Trading | Page 100 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Strat's PASR Long Term, Stress Free Trading 18,592 replies

M5 PASR Trend Trading Strat 95 replies

What you need for trading: indis, a strat & good music 27 replies

Another way to stress free, mechanic long term trading 29 replies

Short Term / Medium Term / Long Term? 3 replies

Attachments: Strat's Long Term Stress Free Trading
Exit Attachments

Strat's Long Term Stress Free Trading

  • #1,981
  • Apr 15, 2009 3:52pm Apr 15, 2009 3:52pm
GBP USD price has broken the 1.50 psyco level today, it may yet close above it too.

It's a Bullish outside bar today with clear space upto 1.538 (imo), however not tradable for me due to the large size of todays bar (too big a risk on the potential loss side). Also the BOSS20 has not bee tested yet as support (although price is above it) and the 20 which has been tested is a long way below price.

Any one else looking at this pair?

best
Paul
Attached Image (click to enlarge)
Click to Enlarge Name: cable daily 150409.gif Size: 25 KB
  • #1,982
  • Edited 4:00pm Apr 15, 2009 3:59pm | Edited 4:00pm
Quoting One14
Thanks Strat. I realize that this was a doji (and not a shooting star), but the formation sure looks like the Pinocchios I have studied from J16. After posting last night and reading the index again I found a post that noted you are not a fan of Puppets. Ooops! Not sure why you don't like them, but I'll keep searching. Back to the books. Time to go over this thread again even slower this time. I will also get back to J16 to see what I missed.
I don't like the tacky Pinnochio name because it is a description of a description - why not use the original description from the Japanese who developed these and knew what they were talking about?

PLUS:-

A Pinnochio bar is directionless -it can be anywhere.

A SHOOTING STAR is a REVERSAL bar AT THE END OF AN UPTREND

A HAMMER is a REVERSAL bar AT THE END OF A DOWNTREND.

If the Japanese thought it was better to call them Pinnochio bars then they would have called them Pinnochio bars.

QED
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,983
  • Apr 15, 2009 4:04pm Apr 15, 2009 4:04pm
Quoting rgrace
The lack of trading is giving me withdrawals
Martini time
  • #1,984
  • Apr 15, 2009 4:08pm Apr 15, 2009 4:08pm
Quoting rgrace
It is 4:37 EST. That beautiful AUD hammer I saw earlier, now is not looking so hot. Plus there is more risk now and less reward. So, I will not take it. I will wait for a good price action setup instead. So far this week is no trades. Usually by this time I would have traded at least 10, and that was a slow week. The lack of trading is giving me withdrawals, but I will still pass this one by. We need a scalper's anonymous.
When you trade the Daily - TRADE THE DAILY -you only need to do your analysis once - after 5pm EST. There is absolutely no point in looking at Daily charts prior to 5pm EST - right AstonDan?

The lack of trading is SAVING you money you would otherwise have LOST and gaining you experience, patience and discipline.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,985
  • Apr 15, 2009 4:09pm Apr 15, 2009 4:09pm
Quoting strat
There is absolutely no point in looking at Daily charts prior to 5pm EST - right AstonDan?
True that
  • #1,986
  • Apr 15, 2009 4:19pm Apr 15, 2009 4:19pm
OK, I will admit it. I am used to looking at the screen a few hours every day. That is a habit I need to break I guess.
  • #1,987
  • Apr 15, 2009 4:20pm Apr 15, 2009 4:20pm
Quoting AstonDan
Evening team Strat, one of my favourite charts at the moment is EURUSD as it highlights the importance of looking at higher timeframes than the one you plan to enter on.

We are currently in a BIG BOSS IB, with price finding support of March's 50% Fib which is also a ROUND NUMBER giving us CONFLUENCE- see the close up daily chart below...

Attachment

Then zoom out and look at the weekly and not only do we have a squiffy H&S forming (IMO), but look at how relevant the rest of the FIB levels have been as S/R back at least as far as...
Glad to see you back, posting, AstonDan!

EURUSD is a puzzlement as Yul Bryner said in "The King and I". The BOSS has put in an unconfirmed swing bottom meaning look for higher prices YET the BOSS momentum is down. We have a nice "W" bottom BUT she is making lower highs. Cycles are peaking conflicting with the unconfirmed swing bottom.

The Daily is trying to escape from it's triangle in bearish momentum at the peak of it's cycle. We have just put in a lower high but NOT a confirmed swing high. On the last swing low, prices didn't like closing below the 20 and raced back up to the TL - will they do it again or form a swing low? It's a puzzlement!

So, AstonDan - it's definitely NOT one of MY favourite charts
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,988
  • Apr 15, 2009 4:28pm Apr 15, 2009 4:28pm
Quoting strat
So, AstonDan - it's definitely NOT one of MY favourite charts
Oh yeah it's a nightmare, but i love it when those levels show themselves! It's happening all over the place at the moment but i'm reluctant this week due to Easter break (i'm sure half the UK is still on holiday)!
  • #1,989
  • Apr 15, 2009 4:45pm Apr 15, 2009 4:45pm
Quoting PaulKing
GBP USD price has broken the 1.50 psyco level today, it may yet close above it too.

It's a Bullish outside bar today with clear space upto 1.538 (imo), however not tradable for me due to the large size of todays bar (too big a risk on the potential loss side). Also the BOSS20 has not bee tested yet as support (although price is above it) and the 20 which has been tested is a long way below price.

Any one else looking at this pair?

best
Paul
Here's a GOOD PAIR to be your favourite, Aston Dan!

BIG BOSS momentum is UP big time. BOSS momentum is UP big time.

Daily momentum is UP and accelerating in nice stair stepping fashion.

On my chart we haven't closed above the magic 1.5000 number so this could be a good place for longs to take some profits off the table (are you listening Bloom?). This coincides with short term cycles topping so maybe it will take a rest until the end of the week.

Paul - pop a 150 on and see where that is at and then go back in history to see how this pair reacts to it.

Also, you should be seeing some resistance at psycho 1.5200

I will not be trading off this BUOB or DLHC (within 2 pips on my data) because of what I wrote above, because the long wick tells me the buyers gave in to the sellers and because we didn't close above the magic number. Instead, I will be looking to buy the dip.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,990
  • Apr 15, 2009 4:48pm Apr 15, 2009 4:48pm
Quoting strat
I will be looking to buy the dip.
Agreed.

(I said weeks ago on this very thread it would make 1.5, if only i'd had the courage of my convictions)
  • #1,991
  • Apr 15, 2009 5:10pm Apr 15, 2009 5:10pm
Quoting Bloom
Martini time
Bloom - tell me it isn't so - you're not another Martini and Vodka guy - not like the Merchant Wanker I met in Mumbai
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,992
  • Apr 15, 2009 5:12pm Apr 15, 2009 5:12pm
Quoting AstonDan
Agreed.

(I said weeks ago on this very thread it would make 1.5, if only i'd had the courage of my convictions)
Well, the rest of us took your advice - so why didn't you? Obviously eating too much pizza!
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,993
  • Apr 15, 2009 5:27pm Apr 15, 2009 5:27pm
Found confirmed support off PPZ/SR at 80.5 and shaping up as a BUEB. Resistance at 82.86 and today's bar is too large to play a sensible entry, but if an IB can give us a discount, there are clear skies upto 85 followed by 87...or..wait for close above 82.86 (Buy Stop at 83 for arguments sake)...

Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy.gif Size: 19 KB
  • #1,994
  • Apr 15, 2009 5:28pm Apr 15, 2009 5:28pm
EUR/AUD

Add short entry to open position @ 1.8165

I entered short on this trade last week and will be adding to my short position. We have a nice BEOB that has made a new low and closed below BOSS 50. Price is looking very bearish on the weekly and monthly charts everything points down

I can see 1.80 area as next major support level, if we break through this then on to 1.7660.

Plan is to keep adding to position as price moves down, looking for PA at support levels and hopefully build up a big pot.

Charts for 15 April and Original chart on 7th April
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euraud 150409 sell.jpg Size: 71 KB
Click to Enlarge Name: EURAUD 070409 SELL.gif Size: 29 KB
  • #1,995
  • Apr 15, 2009 5:40pm Apr 15, 2009 5:40pm
EUR/GBP

Entering a short at 0.8818, can have a short stop here as interested in wether 0.8700 breaks or not

This is a very interesting chart at present, we are approaching a very key support level at 0.8700. This support is a key level on the weekly chart too. On the daily chart we have a bearish bar open and close below the BOSS 20 line which may be significant. Momentum looks to be also increasing to the downside. So plan is to short see if price gos below 0.8700, as I believe if this level breaks we may see a good move South.

Also I see voiume is increasing on my chart, could this also be showing an increase in selling pressure which can shoot us through 0.8700?

If price does break 0.87 then I will be looking to target next area of support at 0.8250.

Chart
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp 150409 sell.jpg Size: 64 KB
  • #1,996
  • Apr 15, 2009 5:47pm Apr 15, 2009 5:47pm
One final post before I go

It appears Euro is looking weaker vs quite a few currencies. Could this be a factor when considering what to do with the puzzlement of EUR/USD at present?
  • #1,997
  • Apr 15, 2009 6:35pm Apr 15, 2009 6:35pm
Quoting AstonDan
Found confirmed support off PPZ/SR at 80.5 and shaping up as a BUEB. Resistance at 82.86 and today's bar is too large to play a sensible entry, but if an IB can give us a discount, there are clear skies upto 85 followed by 87...or..wait for close above 82.86 (Buy Stop at 83 for arguments sake)...

Attachment
This is the pair that Baba G threw his toys out of his pram until I gave my analysis so I had better do it now!

There is something about this pair I just don't like - I can't put my finger on it but it just gives me bad vibes! It really is no different to AUDJPY, and GBPJPY and out of those three I prefer GBPJPY. (CHFJPY, EURJPY, USDJPY) are slightly different in that they look to be topping whereas the base currencies CAD, AUD and GBP seem stronger so those pairs don't "seem" to be topping. Anyway, I have added it to my list (again).

Here's my take:

BIG BOSS momentum up BIG TIME
BOSS momentum up but stalling?
Daily momentum up and accelerating, short term cycle bottomed, putting in double top at 82.50 resistance. Looks to have a clear run to psycho 85.00

But no PASR to get you into a low risk trade - so what now, pizza man?

I still prefer GBPJPY!
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,998
  • Apr 15, 2009 6:40pm Apr 15, 2009 6:40pm
Quoting el_duende
EUR/AUD

Add short entry to open position @ 1.8165

I entered short on this trade last week and will be adding to my short position. We have a nice BEOB that has made a new low and closed below BOSS 50. Price is looking very bearish on the weekly and monthly charts everything points down

I can see 1.80 area as next major support level, if we break through this then on to 1.7660.

Plan is to keep adding to position as price moves down, looking for PA at support levels and hopefully build up a big pot.

Charts for 15 April and Original chart...
I don't get it - you have sold straight into SUPPORT!
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,999
  • Apr 15, 2009 6:44pm Apr 15, 2009 6:44pm
Quoting el_duende
EUR/GBP

Entering a short at 0.8818, can have a short stop here as interested in wether 0.8700 breaks or not

This is a very interesting chart at present, we are approaching a very key support level at 0.8700. This support is a key level on the weekly chart too. On the daily chart we have a bearish bar open and close below the BOSS 20 line which may be significant. Momentum looks to be also increasing to the downside. So plan is to short see if price gos below 0.8700, as I believe if this level breaks we may see a good move South.

Also I see...
Again - you have sold direct into SUPPORT. This will probably work out OK because it looks like she wants to go to 0.8650 but you may have to suffer some pain first
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,000
  • Apr 15, 2009 6:46pm Apr 15, 2009 6:46pm
Quoting el_duende
One final post before I go

It appears Euro is looking weaker vs quite a few currencies. Could this be a factor when considering what to do with the puzzlement of EUR/USD at present?
Only on those pairs which are highly correlated with EURUSD - see my previous post on Correlation.
15 YEARS OF PASR ON FOREX FACTORY!
11 traders viewing now