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  • #11,461
  • Apr 11, 2010 10:38pm Apr 11, 2010 10:38pm
Quoting strat
I have decided I need some colour in my life and trading so.........................

Post #3409
but I am familiar with many of those indicators or have used them in the past. Gee whiz what was I thinking!
  • #11,462
  • Apr 11, 2010 10:52pm Apr 11, 2010 10:52pm
Quoting mstandifer
Because the basic method does not allow for entry between support and resistance. All entries are at support or resistance.
Yes, I realise that but to me S/R are zones not exact numbers.

And to expand on Strats post, if you draw the lower tl, it adds even more to the confidence level.

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  • #11,463
  • Apr 12, 2010 12:27am Apr 12, 2010 12:27am
Quoting jerzhere
Not sure what caused the gap, but I went short. Today tested the 50MA and will probably drop to Fridays close

"Not sure;" "probably;" Gee.......I think I will sell 100 lots.
  • #11,464
  • Apr 12, 2010 12:55am Apr 12, 2010 12:55am
BOSS.
Trend is clearly UP but last week closed as a false breakout SS. I'd view it much more bearish if would have closed below Round Number 1.3000 which was so meaningful in the last 2 years.
In conclusion, trend is still up but I'd manage it more aggressively.

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Worker.
Hovering at good confluence of 1.3000 + TL test + 20 EMA. Keep in mind weekly SS, will see...

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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #11,465
  • Apr 12, 2010 1:07am Apr 12, 2010 1:07am
Quoting Alexandra
"Not sure;" "probably;" Gee.......I think I will sell 100 lots.
EU agreed bailout package for Greece yesterday - that caused Euro to spike.
  • #11,466
  • Apr 12, 2010 3:20am Apr 12, 2010 3:20am
Quoting mstandifer
Sorry, simpleman. You must be a full member of forex factory before you can apply. Once you achieve member status you may request membership via PM.

Would I get any help understanding PASR if I post my charts before I become full member on FF.

I have my Demo account opened and in the middle of reading this wonderful and colourful thread from the begining and also reading the new post as well to be in touch.
  • #11,467
  • Apr 12, 2010 4:57am Apr 12, 2010 4:57am
Quoting simpleman
Would I get any help understanding PASR if I post my charts before I become full member on FF.

I have my Demo account opened and in the middle of reading this wonderful and colourful thread from the begining and also reading the new post as well to be in touch.
Yes. Provided you demonstrate you are reading the thread by posting relevant analysis (i.e. using Strat's method).
  • #11,468
  • Apr 12, 2010 4:58am Apr 12, 2010 4:58am
Quoting Alexandra
"Not sure;" "probably;" Gee.......I think I will sell 100 lots.
Hey Alexandra, thanks for the chuckle it was very welcome on a Monday morning!

Finally got my TITZ! Thanks to everyone for posts revealing the acronym for "Trading In The Zone" by Mark Douglas. I got a hold of a copy and it is helping me immensely with the psychological bad habits I have picked up over the past few years of trading.

Among other things, I have learned that putting on a trade and defining my stop loss didn't mean I had accepted the risk or mean that I truly believed that it was a coin toss with odds in my favor. I am now working on rewiring my brain to truly believe and accept the concepts in the book so that I can act on my edges, accept where I am on the path and not beat myself up if I don't' see something. For any out there that don't have a handle on the psyc side (I sure as hell don't) this is a must read.

Cheers.

John
Finally out of the shadows.
  • #11,469
  • Apr 12, 2010 5:07am Apr 12, 2010 5:07am
Quoting simpleman
Would I get any help understanding PASR if I post my charts before I become full member on FF.

I have my Demo account opened and in the middle of reading this wonderful and colourful thread from the begining and also reading the new post as well to be in touch.
Do yourself a favour and forget about trading for a month while you read the thread and practice finding PASR on your charts as you go along. You will find a lot of the answers to your questions later in the thread, just write them down for yourself so you don't forget.

Sometimes when the senior members post here they talk about stuff you may not have reached in your reading yet, try not to let that worry you.

Be patient

Larry
  • #11,470
  • Apr 12, 2010 6:07am Apr 12, 2010 6:07am
Thanks Larry and MST, point taken I will have to be patient while I read through this thread.
  • #11,471
  • Apr 12, 2010 7:09am Apr 12, 2010 7:09am
I'm posting these USDJPY charts, to get some opinions on my analysis.
Rake me over the coals , call me whatever you want, just dont call me late for diner!
My purpose is to see, if my reading up to this point is in line with PASR.
On the Big Boss, a close above down trendline, a BUEB, but 61.8 fib rejection and 20 rejection.
On the Boss, a close above down trendline, found support at 50 and 92.75 S/R line and also HH,HL.
On the worker, 61.8 fib, the 20 and 92.75 showing support, and the 20 above the 50.
Possible sign of a reversal, but need a Big boss close above the 20 to consider a long position and again apply PASR if this happens.
Am I correct with this analysis?
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  • #11,472
  • Apr 12, 2010 7:29am Apr 12, 2010 7:29am
Quoting hcristea
Friday's candle doesn't look encouraging indeed.
But with the risk of being sent twice in 24h to the beginning, can you please tell me which resistance are you referring? Is it 143? Worker is full of SR levels in the area so I looked at Boss SRs and Ive considered the price to be above a Boss SR ~141.5
Is it 143?

Yes
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,473
  • Apr 12, 2010 7:44am Apr 12, 2010 7:44am
Quoting stewrigh
Think Strat is gonna roast me for this and the reason I don't post here very much(I'm more of a lurker) is that I don't really trade true Strat style.

Anyway here goes......

My problem with these trades is that they all seem to be getting in at the top of waves.

Now I think we can all see that the Big boss and Boss are going up so why don't we enter on pullbacks.

On the chart below there are a couple of good entry points that get us in at lower prices on a pullback.

As I said I'll probably get a roasting for this and I know it's not true...
Think Strat is gonna roast me for this and the reason I don't post here very much(I'm more of a lurker) is that I don't really trade true Strat style.

My method is PASR, my style changes for each pair depending where it is in the trend (or not).

Anyway here goes......

My problem with these trades is that they all seem to be getting in at the top of waves.

Now I think we can all see that the Big boss and Boss are going up so why don't we enter on pullbacks.

This is exactly what we do! We are always looking for retraces to enter back into a trend.

On the chart below there are a couple of good entry points that get us in at lower prices on a pullback.

As I said I'll probably get a roasting for this and I know it's not true Strat trading but please feel free to point out the error of my ways.

You must not have read and UNDERSTOOD what is being taught on here.
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,474
  • Edited 8:56am Apr 12, 2010 8:33am | Edited 8:56am
Quoting No1Optimist
To Strat and the Expert team, I would be grateful for an explanation of the causes and meaning of a gap as seen on today's EURUSD chart.

Does it have any relevance to PASR?

Thanks
To Strat and the Expert team, I would be grateful for an explanation of the causes and meaning of a gap as seen on today's EURUSD chart.

The upward gap has been caused by the EU finally supporting and backing the Greece economy.

The meaning is that those traders who were first on the scene after the news (Down Under guys followed by Asia), all placed long forward orders creating huge demand. Unfortunately, they only represent a very small percent of the overall forex market participants (low liquidity and volume) and their demand created the gap and higher price.

The gap strategy is that a gap will always be filled and those trading gaps sell “up” gaps and buy “down” gaps.. Gaps are much more common in the stocks, equity and futures markets where the Exchanges close on a daily basis with several hours between opening and closing times.

Gaps in forex are unusual as it is a 24 hour market WHEN all the world is doing business. The forex market is closed from Friday, 4pm NY time until Auckland, New Zealand opens at 8am their time, Monday. Many traders ignore the early Asian trading which causes the “Sunday” bar and don’t take notice until the Monday bar prints at midnight on Sunday.

When there is a gap between the NY Friday close and the new candle printed at midnight on Sunday, (as we have now), that is the time to take notice.

I am not of the school that believes we should trade forex gaps the same as stock, equity and futures gaps should be traded since they are so uncommon.

However, the same strategy still applies – the gap will always be filled. In forex, the question is “WHEN”.

Does it have any relevance to PASR?

Everything that PRICE does is relevant to PASR. Indeed, Nicola (elitejets), has given you an example of this for this particular gap.

There is nothing, NOTHING that PRICE can do that will not leave a footprint behind for us.
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,475
  • Apr 12, 2010 8:40am Apr 12, 2010 8:40am
Quoting gaf
Hey Alexandra, thanks for the chuckle it was very welcome on a Monday...
TITZ is available and FREE in the members' section of this thread.
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,476
  • Apr 12, 2010 8:50am Apr 12, 2010 8:50am
Quoting GibsonL6
I'm posting these USDJPY charts, to get some opinions on my analysis.
Rake me over the coals , call me whatever you want, just dont call me late for diner!
My purpose is to see, if my reading up to this point is in line with PASR.
On the Big Boss, a close above down trendline, a BUEB, but 61.8 fib rejection and 20 rejection.
On the Boss, a close above down trendline, found support at 50 and 92.75 S/R line and also HH,HL.
On the worker, 61.8 fib, the 20 and 92.75 showing support, and the 20 above the 50.
Possible sign of a reversal, but need a Big...
On the Big Boss, a close above down trendline, a BUEB, but 61.8 fib rejection and 20 rejection.
On the Boss, a close above down trendline, found support at 50 and 92.75 S/R line and also HH,HL.
On the worker, 61.8 fib, the 20 and 92.75 showing support, and the 20 above the 50.
Possible sign of a reversal, but need a Big boss close above the 20 to consider a long position and again apply PASR if this happens.

You have stated facts. What do the facts tell you relative to trading PASR?

Everything is “possible” in trading – it is just a question of “WHEN”.
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,477
  • Apr 12, 2010 8:51am Apr 12, 2010 8:51am
In keeping with the flow of this thread, I have changed the 20 and 50 to red and blue respectively and candles to green up and red down.
Paying attention and understanding, is everything. I must re-read from the beginning! My previous post clearly shows that didnt sink in!
  • #11,478
  • Apr 12, 2010 8:53am Apr 12, 2010 8:53am
Quoting No1Optimist
To Strat and the Expert team, I would be grateful for an explanation of the causes and meaning of a gap as seen on today's EURUSD chart.

Does it have any relevance to PASR?

Thanks
Just to add to what strat has already said....

A gap could simply be defined as the ultimate picture of a supply & demand imbalance.

A novice gap is a situation whereby there is an imbalance in supply & demand causing price to suddenly jump in the same direction with the preceding trend. HINT: Look to trade the reversal (best entry is a limit order at the next S/R area). - That which occurred on the EU & even GU are examples of this type of gap.

A professional gap is a situation whereby there is an imbalance in supply and demand causing price to suddenly jump in an opposite direction from the preceding trend. HINT: Look to trade the continuation (best entry is a limit order at the first pull back)

Trade smart and never ignore PASR in whatever trading style you adopt now or in the future.
  • #11,479
  • Apr 12, 2010 9:03am Apr 12, 2010 9:03am

(8 >( Devastating for the Polish people! )< 8)

A terrible tragedy!

We all take (air) travel for granted and as being very safe, which statistically it is.

Until the flights that aren’t ! )< 8(
I hope others learn from this and to not all travel together!
I don’t know if they still keep this protocol, very likely they do:
Coca-Cola has never utilized ‘public proprietary legislation’ to protect their proprietary formula for Coca-Cola. They just keep the secret VERY well. At one point in time, there were only 2 people in the world that new the formula for it. I’m not sure, but it seems to me that I heard that each of them only knows half of the formula as well. Obviously they have back up contingencies.
It is understandable that on such occasions that it would be natural to all travel together in carrying out such duties.
But these two people NEVER travel together in case of such events. Which would point to each of them knowing the entire formula, but with these well established security protection protocols; it makes for safe guards.
This is a harsh ‘reality check’.
I hope other nations take this seriously and start implementing such travel protocols as well.
It is my hope that Poland and their people weather this rough storm but remains, strong, united and stable.

Condolences to one and all!

Most Sincerely,
DougRH4x
  • #11,480
  • Apr 12, 2010 9:13am Apr 12, 2010 9:13am
On the Big Boss, a close above down trendline, a BUEB, but 61.8 fib rejection and 20 rejection.
On the Boss, a close above down trendline, found support at 50 and 92.75 S/R line and also HH,HL.
On the worker, 61.8 fib, the 20 and 92.75 showing support, and the 20 above the 50.
Possible sign of a reversal, but need a Big boss close above the 20 to consider a long position and again apply PASR if this happens.

[[/quote]You have stated facts. What do the facts tell you relative to trading PASR?

Everything is “possible” in trading – it is just a question of “WHEN”.[/quote]
Point taken Strat! I'm looking for something that isnt there, rather than seeing what is actually there. Thank you for your reply.
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