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  • #3,141
  • May 17, 2009 12:34pm May 17, 2009 12:34pm
Quoting Baba G
BANANA!!!!!
BEOB into TL and support - will it hold or blow through? Wait for PA to tell you
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,142
  • May 17, 2009 12:36pm May 17, 2009 12:36pm
Quoting Baba G
Daily.....swords out....
On my data, BEOB trading into 20 and minor support - wait for PA
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,143
  • Edited 3:19pm May 17, 2009 12:58pm | Edited 3:19pm
Quoting 30XTCi
Hi Dan, When it comes to this analysis stuff, it does my head in. Would you believe I have just watched those basic candlestick videos on page, 112. I learned those about 3 years ago and have done my best since then to forget them!!

Now I see they actually do mean something!

If I remember right, strat wanted us to use swing highs/lows for starting points. Then said if it makes sense to you it's OK. I dunno.
I spent 2 hrs this morning looking over the Eur/Usd and had everything ready to post, and then remembered we were asked to do that after...
""If I remember right, strat wanted us to use swing highs/lows for starting points. Then said if it makes sense to you it's OK. I dunno.""

For those new to trading PASR, I want them to learn hammers and shooting stars first. Learn them until you can trade them in your sleep. Then move onto the next step. This is the basic building block which needs to be in place if you are to be successful at trading PASR.

""I spent 2 hrs this morning looking over the Eur/Usd and had everything ready to post, and then remembered we were asked to do that after we had seen the set up and got in. So waste of time.""

Waste of time if you don't know what you're doing but very valuable time if you do. You can post at ANY TIME - where is it said we were asked to do that after we had seen the set up and got in? Lotuselanman isn't in and he's posting his analysis so that we can check his work.

""What I have realised is I need to be more organised, need some kind of template and tick the boxes as I'm going through the time frames. In the past I've only concentrated on one or two currencies, but I see now doing this daily I might have to watch 10 or more. Three time frames x 10 currencies is a lot for me to think about.""

Organisation is SO important, more so if you're trading the devil's time frames. For us, we just need to be set up, PATIENT and DISCIPLINED as we lay in wait for PASR set ups.

Until you can trade PASR in your sleep, you have to practice on THOUSANDS of charts and when you're done doing that, practice on THOUSANDS of charts. Recognising and trading PASR is NOT a learn as you go process! Trading while learning is financial suicide.

The more pairs you have, the MORE you have to practice on but not necessarily trade. Practice makes perfect.

Checking 3 time frames for trading the Daily and up is a doddle. Once you are trading, unless there is PASR on the Daily, there is no need to check anything else after you have your BIG BOSS and BOSS analysis in place.

The BIG BOSS analysis is in place for a month and the BOSS analysis for a week so we only need a couple of minutes at the NY close to check our Worker charts.

I don't know of any other business that produces such a high ROI for such little effort as trading the Daily time frame and above. As Jacko says "It's the best business in the world".
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,144
  • May 17, 2009 1:49pm May 17, 2009 1:49pm
Quoting elitejets
I took the USDCHF long trade too (for the second time this week , chart will tell you why) and it gave me the same scares!

If you have momentum and price action on your side then you must not be put off trading into the 20ema. SR levels and price action will always win. The moving average is a guide ...
When the price gets to a moving average it might well cause your trade to wobble when it hits it but it should not keep you out of a good set up.

When the price is a long way from the moving average then the "elastic band" effect is a good...
A LOT of information for me to assimilate. Thanks Nicola. It always seems to me a bit odd that MAs provide S or R as they are statistical calculations based on previous PA and therefore lag. SR lines and TL on the otherhand are indicators of points at which PA moved, not lagging statistical calculations. At least that is my reading of them. I know MAs seem to WORK as S or R sometimes but they are a different kind of instrument from the SR and T lines.

But what do I know?

Anyway your comments made a lot of sense to me. Thank you.

Christopher
  • #3,145
  • May 17, 2009 2:27pm May 17, 2009 2:27pm
did you see what i see? in my charts dudes.....or does the nakedness shock you?let me know people.......g
  • #3,146
  • May 17, 2009 3:17pm May 17, 2009 3:17pm
Quoting Lotuselanman
A LOT of information for me to assimilate....
The 20 and 50 provide DYNAMIC lines of S&R. Many times they coincide with our static S&R levels providing us with powerful confluence of S&R.

Suggest you pull up thousands of charts with just a 20 and 50 on to see this with your very own eyes!
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,147
  • May 17, 2009 4:03pm May 17, 2009 4:03pm
The market is not presenting us with any safe, low risk opportunities just now so there is no recommendation.

We are watching those pairs at support and resistance and will get together and review as the situation presents itself.
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,148
  • May 17, 2009 9:02pm May 17, 2009 9:02pm
Quoting Baba G
did you see what i see? in my charts dudes.....or does the nakedness shock you?let me know people.......g
Hey Baba G!

I'm still trying to figure out everything you wrote. There is alot in there.

If I understood properly, the market is in sideway mode and even though price action occurred, the risks were unacceptable.

I'm rereading it for a third time to see if I get more.
  • #3,149
  • May 17, 2009 9:07pm May 17, 2009 9:07pm
Quoting One14
Hey Baba G!

I'm still trying to figure out everything you wrote. There is alot in there.

If I understood properly, the market is in sideway mode and even though price action occurred, the risks were unacceptable.

I'm rereading it for a third time to see if I get more.
Ask Grimweasel to run it through his encrypter!
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,150
  • Edited 11:29pm May 17, 2009 9:17pm | Edited 11:29pm
Strat, It's possible that I screwed up big time, would'nt be a first. I was referring to post No 2925 on page 195 on May 13.
I had the feeling you were trying to filter posts that had no set-ups.
Either way I apologise, mums the word.

Roy

PS I need to learn how to insert a link, anybody?
http://www.forexfactory.com/showpost...postcount=2925
Polishing my crystal ball
  • #3,151
  • May 17, 2009 9:23pm May 17, 2009 9:23pm
Quoting 30XTCi
Strat, It's possible that I screwed up big time, would'nt be a first. I was referring to post No 2925 on page 195 on May 13.
I had the feeling you were trying to filter posts that had no set-ups.
Either way I apologise, mums the word.

Roy

PS I need to learn how to insert a link, anybody?
Either click on the globe button the two loop symbol or use this code:

Inserted Code
[url="URL HERE"]Link Name[/ url]
Just remove the space in the closing bracket for URL.
  • #3,152
  • May 17, 2009 9:38pm May 17, 2009 9:38pm
Quoting KillPhil08
Either click on the globe button the two loop symbol or use this code:

Inserted Code
[url="URL HERE"]Link Name[/ url]
Just remove the space in the closing bracket for URL.
KillPhil08, Thanks, but how do I obtain the url? Do I right click on the post No and save it as something and then paste it somehow? I really am a dunce at this IT stuff.
Polishing my crystal ball
  • #3,153
  • May 17, 2009 10:15pm May 17, 2009 10:15pm
Quoting 30XTCi
KillPhil08, Thanks, but how do I obtain the url? Do I right click on the post No and save it as something and then paste it somehow? I really am a dunce at this IT stuff.
If you are trying to reference another post, you can RIGHT click on the post # and select Copy Shortcut from the menu that appears (attached screenshot).

Paste the results in between the quotes where url=

[url="PASTE THAT BABY HERE"]TYPE IN THE NAME YOU WANT PEOPLE TO SEE HERE[/ url]
Attached Image (click to enlarge)
Click to Enlarge Name: SaveURLAddress.jpg Size: 153 KB
  • #3,154
  • May 17, 2009 10:49pm May 17, 2009 10:49pm
Quoting One14
If you are trying to reference another post, you can RIGHT click on the post # and select Copy Shortcut from the menu that appears (attached screenshot).

Paste the results in between the quotes where url=

[url="PASTE THAT BABY HERE"]TYPE IN THE NAME YOU WANT PEOPLE TO SEE HERE[/ url]
Thanks for that, testing http://www.forexfactory.com/showpost...postcount=3153
Roy

Edit. It half worked.
Polishing my crystal ball
  • #3,155
  • May 17, 2009 11:27pm May 17, 2009 11:27pm
There is a potential setup forming on GBPAUD. I am not going to comment on this one, just attaching the chart and waiting for your analysis.

ps. this is not a Strat Team Trade, just something I'm watching personally.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD-DAILY.jpg Size: 179 KB
  • #3,156
  • May 18, 2009 2:06am May 18, 2009 2:06am
I had cause to investigate the look of pin bars/hammers in charts based on different midnights in another thread. Rather than reference people to the other thread, here are the charts:

http://www.forexfactory.com/attachme...5&d=1242600764
http://www.forexfactory.com/attachme...6&d=1242600764
http://www.forexfactory.com/attachme...7&d=1242600779
http://www.forexfactory.com/attachme...8&d=1242600793
http://www.forexfactory.com/attachme...9&d=1242600811

Same price action - different timezones.
  • #3,157
  • May 18, 2009 3:36am May 18, 2009 3:36am
Quoting strat
Ask Grimweasel to run it through his encrypter!
Am i that bad!!!! sorry guys......please ask me as many questions as you like.......g
  • #3,158
  • May 18, 2009 3:39am May 18, 2009 3:39am
Quoting One14
Hey Baba G!

I'm still trying to figure out everything you wrote. There is alot in there.

If I understood properly, the market is in sideway mode and even though price action occurred, the risks were unacceptable.

I'm rereading it for a third time to see if I get more.
Yes...but can you see why i came to that viewpoint?.....g
  • #3,159
  • May 18, 2009 7:26am May 18, 2009 7:26am
Quoting Baba G
Yes...but can you see why i came to that viewpoint?.....g
I guess I am the master of the obvious.

Looking at the CAD/JPY charts your posted:

Big Boss - Down Trend
Boss - Up Trend - Showing Bullish PA and then slapped down with Bearish PA.
Daily - Up then Down.

Price appears to be bouncing between the 2 levels drawn on your chart.

There isn't a clear direction as to where the Queen wants to go. So we wait for her to deal more cards and give us more of a clue.

I didn't get the comment about the Pin/Hammer bar on the Daily. Wasn't that a perfect setup for 500 or so pips? Is that what you meant by NO banana?
  • #3,160
  • May 18, 2009 1:02pm May 18, 2009 1:02pm
For those with a “fixed” mindset who are not prepared to stretch trading boundaries.

This is not a “I told you so” post to the Negative Nancys but rather one for those on The Path of Learning to keep your mind open, not believe what others say but rather, prove things for yourself. It is also to encourage you to look for YOUR “EDGE”.

It is very important as you are developing as a trader, to be aware of all possibilities in trading, even those that go against “convention”.

Again, I am talking about MY use of Sunday bars. This is NOT a recommended trading style for those on The Path of Learning but something for consideration once your PASR light is burning brightly.

We have been told over and over, not to use Sunday bars and to ignore them. Forex trading convention and the vast majority of Forex traders condemn Sunday bars. I have lost count the number of times I have been told by “so called” experts that Sunday bars do not work and to ignore them. The rebel and contrarian in me does NOTaccept anything I am told unless I can prove it for myself. No-one has been able to convince me that Sunday bars are worthless and for me, I have proven just the opposite over and over, they are very valuable.

Before you even think of considering Sunday bars, you have to understand what YOUR Sunday bar is. If like some, it only consists of 2 hours, then it is not worth considering. My Sunday bar starts with the New Zealand/Australia session and goes right through until midnight NY when my candle for Monday trading prints. This tells me SO much about Asian trading.

So, before me, I have 8 hours of Asian trading information and the “so called” experts want me to ignore it! WHY? Is it because they are ignorant? Is it because they are envious? WHY? Whatever it is, I don’t care, each to his own. If we are to ignore Asian trading on a Sunday, just because it has its own bar, then, if the “so called” experts are to be consistent, they should ignore Asian trading during the week, but they can’t. Not logical for my simple mind!

Now, this is NOT an argument for using Sunday bars. It is for you to always keep your options open and consider all things once your PASR light is on and shining bright. In other words, think outside the box and develop YOUR EDGE.

I only use Sunday bars when everything lines up (including my Momentum, Momentum Cycles and Cycles) and is in confluence and when it does, for me it is a no brainer trade. When they are not lined up it is also very simple – ignore them. Don’t ask for my method because this is for Advanced Strategies only AND providing you have 8 hours of Sunday bars.

I have been very profitable using Sunday bars and for the times they haven’t engaged (Baba G terminology which is a very good description, thank you, Baba G), I rarely take a loss. There have been a few times when the big boys come in and play their games and their spike fills me and then take me in the opposite direction BUT the beauty of the Sunday bar is that it is usually a small bar meaning my SL is small with very little risk. Another reason why I love Sunday bars so much!

I really didn’t want to show this but feel it necessary to show how powerful it is WHEN everything lines up.

This Sunday is a PERFECT example in using MY Sunday bars (and other studies) when everything is in confluence.

AUDJPY: Filled long at 71.70
AUDUSD: Filled long at 0.7537
CADJPY: Filled long at 81.07
CHFJPY: Filled long at 85.03
EURCAD: Filled short at 1.5779
EURJPY: Filled long at 128.57
GBPJPY: Filled long at 145.30
GBPUSD: Filled long at 1.5217
NZDJPY: Filled long at 55.83
NZDUSD: Filled long at 58.83
USDCAD: Filled short at 1.1729
USDJPY: Filled long at 95.43

All stop orders filled with no losses.

Again, this is NOT to promote Sunday bars but to get you to keep an open mind, challenge everything you are told, don’t believe “so called” experts and prove things for yourself.

And for the Negative Nancys who want to prove me wrong, save your energy. My trading account knows the truth!
15 YEARS OF PASR ON FOREX FACTORY!
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