Strat's Long Term Stress Free Trading

Quoting vienna_wein

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Update on GBPCHF:

Interesting, I can now upload a chart.

Yesterday (Nov 18) is a BUOB which penetrated the resistance around 1.5838. However, it stopped at the long term down trend line. The close actually is higher than the previous swing. I am tempted to enter a long trade above the high. Then I looked at the BOSS and saw that the down trend line acts as a very strong resistance, therefore, I decided I should wait for the down trend line to be taken out first before I consider any long trade.

Is this a good choice or did I miss a good...

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Quoting Alexandra

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ZZ That hammer (of sorts) was retested on the 16th (the day you are asking about) and, obviously, produced nice followthrough. To me, it's more of an overall chart read showing rejection of lower levels in an uptrending market, rather than an overt pattern. Look harder and see all those failed attempts to penetrate 81.30, ending in an up close on the day identified as a buy (the 16th). If you take a long view, you will see how critical that 81 level actually was. You should have had your S/R lines there from the prior consolidation....

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Quoting CrudeCraig

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The opportunity was the BUEB that confirmed the swing low on the 10th and also closed above the 20 and 50 MA's.

From here the safest entry will likely come off a retrace to the 20 ema.

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Quoting vienna_wein

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Alexandra, please excuse my ignorance. I am trying to understand what you said, but I don't quite get it. Would you mind explaining to me the following?
1. When you said the hammer is retested, you are not referring to testing the low of the hammer, but the close of hammer. Is that right?
2. Why is the bar on Nov 16th is a buy? The Nov 16th bar appears to me as almost a BEOB, but I'm not sure why it is a buy.

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Quoting zzz

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Hi vienna_wein, since Alexandra explained it to me, let me try to answer you before she does to make sure I understood it right. Because 81ish area ended up being so strong support, the bar on Nov 12 was a major test of that support strength, and it showed that buyers were very certain about that level. That day candle closed above 81, the shape of the candle was secondary in this case - that was what Strat calls seeing beyond the candles. From there on, any confirmation of that support would be a buy trigger. The candle on Nov 16 was unable to...

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Quoting vienna_wein

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zzz, thanks for your explanation. I wish I can read the chart like this as well. I believe this is in advance level. In this case, what should our entry be? Would it be a buy stop above the high of Nov 17th?

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Quoting jag1966

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Thanks again for all the hard work on FF Strat, not sure why you are abandoning it but good luck with your website.

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Quoting zzz

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Since I am far from the advanced level, I did not enter this trade. I am looking at beginner style trades only at this point. I knew it would have troubles where it stopped now, at 82.50ish, so to enter in buy using the texbook rules did not work - having stop below the low of the candle of Nov 12 disqualified the trade for me because of very poor r:r. I think the entry here would be either from 1 h or 4 h chart, or having stop just below 81, playing the strength of support. Any of these are not beginners trades so I did not take any of them. Now...

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Quoting zzz

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Hi vienna_wein, since Alexandra explained it to me, let me try to answer you before she does to make sure I understood it right. Because 81ish area ended up being so strong support, the bar on Nov 12 was a major test of that support strength, and it showed that buyers were very certain about that level. That day candle closed above 81, the shape of the candle was secondary in this case - that was what Strat calls seeing beyond the candles. From there on, any confirmation of that support would be a buy trigger. The candle on Nov 16 was unable to...

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Quoting Alexandra

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Yes. Now you are thinking and seeing the ebb and flow along the battle lines so that you can interpret each candle within its context and pick not only an entry, but, more importantly, an exit. If you can add some longer term "bias" from the weekly chart, then you have something.

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Quoting stewrigh

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Strat,

It might be a bit more useful to your students if you posted these before rather than after the event.

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Quoting Money Magnet

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And you should know by now Strat does not spoon feed.
The learning comes from one applying ones own mind.
In fact to post before the event is more harmful in my humble opinion.
I pretty sure even a clever guy like you has heard about teaching a man to fish.

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Quoting stewrigh

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Yep but when learning to fish its not very useful if you only learn how to gut them.

You need to learn how to cast the net first.

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Quoting Money Magnet

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Not a pair I normally follow, but it was posted in plenty of time my entry would have been at the black line, in line with Strat's teachings.
Price had broken support, a nice trade.

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Quoting vienna_wein

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Update on EURUSD:

Weekly BOSS (same as last week):
1. Short term trend = UP
2. Immediate trend = DOWN
3. Went through support around 1.3678 but seems to have support at EMA 20 & 50.

Daily Worker:
1. Immediate trend = DOWN
2. Yesterday Nov 22 is a BEOB bar. It bounces off the worker's EMA 20 and closed below support 1.3678.

With immediate trend aligns with BOSS + BEOB, I am looking for it to retest BOSS 20 and the up trend line.

My first trade here:
1. Sell stop below the low of Nov 22 at 1.3571.
2. Stop loss above high of unconfirmed swing...

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