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  • #14,761
  • Nov 15, 2010 11:58am Nov 15, 2010 11:58am
Quoting Adilius07
Hello Traders!

This is my first post here, but I spent some time going through begining of this thread and through the index on the website reading different examples. But I still cannot get how you get the S/R levels. Ok it is clear to me they are the bar close (not hi/lo) but how do you get them? Which ones you use for Resistance, S1, Support, R1?

Can someone please point me to post so I can finally get it? Thank you very much.

Kind Regards,
Adilius07
Go to the FIRST page and you will find the posts for identifying SR levels.
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,762
  • Nov 15, 2010 12:01pm Nov 15, 2010 12:01pm
Quoting strat
Go to the FIRST page and you will find the posts for identifying SR levels.

Support & Resistance Levels – Recognition & Identification
See Posts #7738, #7739, #7740, #7741, #7743 and #7744

lol. I'm sorry! I guess I just missed it somehow. It is in color and bold but still missed it. Thanks Strat, gonna continue on my reading now. Thanks!
  • #14,763
  • Nov 15, 2010 9:46pm Nov 15, 2010 9:46pm
Hello everyone,

This is my first post. I've been following this thread for a little while and read through some of the important posts multiple times. I got the idea of PASR and it made sense to me when I was reading them. However, when it is my turn to analyse my own charts, I have no confidence in myself. I would like to post my analysis here and I hope Strats and/or others would be kind enough to point out if I am on the right track or not. I am hoping that I would be able to contribute some days in the future.

I would like to post the analysis for EURAUD:

Weekly BOSS:
1. Clearly in a long term downtrend
2. Immediate trend = DOWN
3. Last week put in a nice hammer.

Daily Worker:
1. Short term trend is DOWN
2. Immediate trend = DOWN
3. Double bottom.
4. Just have a swing low confirmed couple days ago
5. Yesterday (Nov 15) bounces off from the resistance 1.3942 and EMA20. This bar could be a potential swing high.


At this point, I probably should wait for PASR to follow the downtrend. Since the double bottom at 1.3655 and possibly would be a strong support, I think it has to break through this bottom before I should take a short trade. Is that right? Or would it make sense to ride the trend down to this bottom if there is a valid PASR comes along?

Thanks!
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  • #14,764
  • Nov 16, 2010 2:21am Nov 16, 2010 2:21am
Quoting vienna_wein
Weekly BOSS:
1. Clearly in a long term downtrend
2. Immediate trend = DOWN
3. Last week put in a nice hammer.

Daily Worker:
1. Short term trend is DOWN
2. Immediate trend = DOWN
3. Double bottom.
4. Just have a swing low confirmed couple days ago
5. Yesterday (Nov 15) bounces off from the resistance 1.3942 and EMA20. This bar could be a potential swing high.


At this point, I probably should wait for PASR to follow the downtrend. Since the double bottom at 1.3655 and possibly would be a strong support, I think it has to break through...
Yesterday's candle looks to me like an indecision candle. It closed bearish but still looks like an indecision.
Buyers tried to push prices higher but there is a R at 1.3930 and sellers tried to take price lower towards S 1.365.

This seems to be a very tight range (1.390-1.365) where buyers and sellers can move price up and down but it doesnt give us an opportunity to trade the daily.

I would rather wait to see price out of the range mentioned above.
  • #14,765
  • Nov 16, 2010 2:58pm Nov 16, 2010 2:58pm
Quoting vienna_wein
Hello everyone,

This is my first post. I've been following this thread for a little while and read through some of the important posts multiple times. I got the idea of PASR and it made sense to me when I was reading them. However, when it is my turn to analyse my own charts, I have no confidence in myself. I would like to post my analysis here and I hope Strats and/or others would be kind enough to point out if I am on the right track or not. I am hoping that I would be able to contribute some days in the future.

I would like to post the analysis...
Yes correct analysis - good job!

At this point, I probably should wait for PASR to follow the downtrend. Since the double bottom at 1.3655 and possibly would be a strong support, I think it has to break through this bottom before I should take a short trade. Is that right? Or would it make sense to ride the trend down to this bottom if there is a valid PASR comes along?

With all 3 time frames putting in double bottoms, the immediate short potential is limited so the safest and lowest stress way is to wait for what happens at this double bottom.
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,766
  • Nov 16, 2010 9:37pm Nov 16, 2010 9:37pm
Thank you Strat and hcristea for your comments. I really appreciate for your help. I am trying to analyze at least a pair each day as I am kind of slow at the beginning, but I hope this will improve in the future.

I am looking at GBPCHF today:

Weekly BOSS:
1. Short term trend = DOWN
2. Immediate trend = UP (is this correct?)
3. Get struck at resistance 1.5838.

Daily Worker:
1. Short term trend = UP
2. Immediate trend = UP
3. Bounce off strong resistance at 1.5838 for few days.
4. Inside a triangle

If immediate trend remains on the upside and manage to penetrate resistance 1.5838, we still have the trend line (TL) to act as resistance. We probably have to wait until it is outside of the triangle and preferably with PASR around 1.5838 to go long. Is that right?

At the same time, it looks like yesterday's bar (Nov 16) confirmed a swing high. That means we have a lower swing high and price might actually coming down to the lower trend line.


Thanks in advance!
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  • #14,767
  • Nov 17, 2010 8:35am Nov 17, 2010 8:35am
Quoting vienna_wein
Thank you Strat and hcristea for your comments. I really appreciate for your help. I am trying to analyze at least a pair each day as I am kind of slow at the beginning, but I hope this will improve in the future.

I am looking at GBPCHF today:

Weekly BOSS:
1. Short term trend = DOWN
2. Immediate trend = UP (is this correct?)
3. Get struck at resistance 1.5838.

Daily Worker:
1. Short term trend = UP
2. Immediate trend = UP
3. Bounce off strong resistance at 1.5838 for few days.
4. Inside a triangle

If immediate trend remains on the upside and...
Correct analysis except the swing is as yet unconfirmed - there has to be a close lower than the low of the swing high bar
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,768
  • Nov 17, 2010 9:46am Nov 17, 2010 9:46am
Strat, thank you so much for helping people out.

Questions:

1. How often do you get a signal per week? I am afraid too few!

2. Roughly, how would you describe the performance of this trading style?

Thanks!
  • #14,769
  • Nov 17, 2010 9:55am Nov 17, 2010 9:55am
hi vienna_wein, shouldn't the first low on your GBPCHF daily chart be LL instead of HL?
  • #14,770
  • Edited 10:39am Nov 17, 2010 10:33am | Edited 10:39am
Quoting Walad100100
Strat, thank you so much for helping people out.

Questions:

1. How often do you get a signal per week? I am afraid too few!

2. Roughly, how would you describe the performance of this trading style?

Thanks!
Hello Walad

If you read the thread from page 1 you would know that you are unlikley to get the answers to your questions above here.
What you would get is a stress free way of trading and a wonderful education.
Attached is a quick chart on the EUR/USD of where I have seen opertunities to trade or to add to current positions.
thanks
Frank
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  • #14,771
  • Nov 17, 2010 11:10am Nov 17, 2010 11:10am
This is what I see on AUDJPY:
Big Boss and Boss are up. On the Worker, both buyers and sellers stated their positions. HL analysis shows up move as well. Once (if) the last HH is broken, it will show a green light to at least 85 and then 88. If the price moves down, the break of 78 will signal a sell opportunity for 400 pip down to 74. No trading zone between 83 and 78.
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  • #14,772
  • Nov 17, 2010 12:24pm Nov 17, 2010 12:24pm
Strat, thank you so much for helping people out.

Questions:

1. How often do you get a signal per week? I am afraid too few!

Wait a minute while I find my length of string!

2. Roughly, how would you describe the performance of this trading style?

Very, very, very profitable and very, very, very stress free - roughly that is!
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,773
  • Nov 17, 2010 12:28pm Nov 17, 2010 12:28pm
Quoting zzz
This is what I see on AUDJPY:
Big Boss and Boss are up. On the Worker, both buyers and sellers stated their positions. HL analysis shows up move as well. Once (if) the last HH is broken, it will show a green light to at least 85 and then 88. If the price moves down, the break of 78 will signal a sell opportunity for 400 pip down to 74. No trading zone between 83 and 78.
Correct analysis except you can trade between 78 and 83 providing you know what you are doing
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,774
  • Nov 17, 2010 10:18pm Nov 17, 2010 10:18pm
Quoting zzz
This is what I see on AUDJPY:
Big Boss and Boss are up. On the Worker, both buyers and sellers stated their positions. HL analysis shows up move as well. Once (if) the last HH is broken, it will show a green light to at least 85 and then 88. If the price moves down, the break of 78 will signal a sell opportunity for 400 pip down to 74. No trading zone between 83 and 78.
Goodness gracious. Just buy it on any signal below 82. Like yesterday's!
  • #14,775
  • Nov 17, 2010 10:26pm Nov 17, 2010 10:26pm
Quoting strat
Correct analysis except the swing is as yet unconfirmed - there has to be a close lower than the low of the swing high bar
Thank you Strat for pointing out about the unconfirmed swing high. I read that a swing high is confirmed when the low of the bar is taken out. However, I did not realize that "taken out" means there needs to have a close below it. This is great information I learn today!
  • #14,776
  • Nov 17, 2010 10:28pm Nov 17, 2010 10:28pm
Quoting zzz
hi vienna_wein, shouldn't the first low on your GBPCHF daily chart be LL instead of HL?
I was referring to the uptrend, that's why I use HL. It probably doesn't matter either way.
  • #14,777
  • Nov 17, 2010 10:31pm Nov 17, 2010 10:31pm
Could someone please help me understand why I have an attachment quota? I was trying to post a new message with an attachment, but it said that I have reached the quota. It seems that I have about 500K quota only. Is there anyway for me to change that?
  • #14,778
  • Nov 17, 2010 10:33pm Nov 17, 2010 10:33pm
Quoting Money Magnet
Hello Walad

If you read the thread from page 1 you would know that you are unlikley to get the answers to your questions above here.
What you would get is a stress free way of trading and a wonderful education.
Attached is a quick chart on the EUR/USD of where I have seen opertunities to trade or to add to current positions.
thanks
Frank
Hello Money Magnet, I am assuming that the bars with yellow color are the signal bars. Is that right?
  • #14,779
  • Nov 17, 2010 10:41pm Nov 17, 2010 10:41pm
Thanks Alexandra. What was yesterday's signal to buy, may I ask? I did not see any. Could you post a chart please?
  • #14,780
  • Nov 18, 2010 12:28am Nov 18, 2010 12:28am
Quoting vienna_wein
Hello Money Magnet, I am assuming that the bars with yellow color are the signal bars. Is that right?

Yes correct, but one would need to look at one's trading plan and if those signals were at or around support and resistance, and if the Boss and big boss agreed.
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