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  • #15,001
  • Edited 5:55pm Dec 22, 2010 5:51pm | Edited 5:55pm
[quote=strat;4260173]
Quoting trogger
I had missed that post, or more likely forgotten it (advancing age does that!).

I just have a couple of questions that you or others might be able to offer advice on:

Would it have been possible to to enter this particular move in accordance with the teachings on this thread?

Boss BEOB on W/E Nov 26
Boss BEOB on W/E Dec 17


And what would have been the target, as we are now in uncharted territory (quite literally)?

Reverse PASR
Thanks Strat. I just want to check whether I fully understand:

Worker is taking instruction from the Boss.
For the latest entry, Boss BEOB W/E Dec 17 is the signal to short on a break of the weeks low.
We take our entry from the worker and the week's low corresponds to the low of the hammer which occurred on the Friday 17th.
Break occurred on Tues 21 and we would have entered then with stop above the inverted hammer of 16 Dec ?

Then manage trade looking for PA to the upside as we have no (historical) levels of S/R.
Attached Image


Attached Image
  • #15,002
  • Dec 22, 2010 6:00pm Dec 22, 2010 6:00pm
Quoting trogger
My true love sent to me,
one shooting star,
two inside bars,
three hanging men
and a doji ....


Pardon the lyrical license - we haven't got three hanging men (or the doji) yet- but we do have an interesting series of bars, suggesting to me that even the "big boys" haven't decided where they want this baby yet.
The NZ current account is out. The deficit is bad, but not as bad as some had predicted. So where is this one going?

I can wait.

Attachment
1000 pages and still so many counter trend trades.
  • #15,003
  • Dec 22, 2010 7:05pm Dec 22, 2010 7:05pm
[quote=trogger;4260264][quote=strat;4260173]

Thanks Strat. I just want to check whether I fully understand:

Worker is taking instruction from the Boss.
For the latest entry, Boss BEOB W/E Dec 17 is the signal to short on a break of the weeks low.
We take our entry from the worker and the week's low corresponds to the low of the hammer which occurred on the Friday 17th.
Break occurred on Tues 21 and we would have entered then with stop above the inverted hammer of 16 Dec ?

Then manage trade looking for PA to the upside as we have no (historical) levels of S/R.

Yes, you have it correct.
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,004
  • Dec 22, 2010 8:15pm Dec 22, 2010 8:15pm
[quote=trogger;4260264]
Quoting strat

Thanks Strat. I just want to check whether I fully understand:

Worker is taking instruction from the Boss.
For the latest entry, Boss BEOB W/E Dec 17 is the signal to short on a break of the weeks low.
We take our entry from the worker and the week's low corresponds to the low of the hammer which occurred on the Friday 17th.
Break occurred on Tues 21 and we would have entered then with stop above the inverted hammer of 16 Dec ?

Then manage trade looking for PA to the upside as we have no (historical) levels of S/R.
Attachment ...
Trogger,

The main thing to study and watch for price action is after a confirmed down trend, a hammer shows up, price supposively reverses but a inside candle comes after, give us opportunity to short at discount price. Obviously Something to watch for and study, not suggesting to trade it bindly experience counts on this one. Take Usdchf for example, I openly posted that I will go long above the hammer. Look what happpend, price couldn't go higher and printed red inside candle.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf-12-22-10.gif Size: 19 KB
  • #15,005
  • Dec 23, 2010 2:39am Dec 23, 2010 2:39am
Quoting Alexandra
1000 pages and still so many counter trend trades.
(Nina Simone probably did it better)

Great to see you posting again Alexandra.
Couldn't agree more with this comment, but somewhat puzzled as to why you would associate my post on AUD vs NZD with it?

Guess I am never going to make it as a songwriter, as I obviously can't get my message across by that media! [But that's why I added the comments - and the final line: "I can wait" - because there is no trade.]
  • #15,006
  • Dec 23, 2010 3:31am Dec 23, 2010 3:31am
[quote=patrick25;4260486][quote=trogger;4260264]

The main thing to study and watch for price action is after a confirmed down trend, a hammer shows up, price supposively reverses but a inside candle comes after, give us opportunity to short at discount price.

Thanks for those comments and explanation. Together with Strat's comments, I think that has got the idea across.

Obviously Something to watch for and study, not suggesting to trade it bindly experience counts on this one. Take Usdchf for example, I openly posted that I will go long above the hammer. Look what happpend, price couldn't go higher and printed red inside candle.

Yes, but on Usd.chf, your buy stop was far enough above the SS/Hammer pair that you weren't entered, so you can still regard that as a success, I think?

I will watch for this in future. Thanks for the help.
  • #15,007
  • Dec 23, 2010 11:09am Dec 23, 2010 11:09am
Hi Strat, I’m posting for the first time, but I’ve been lurking and reading for several months now – though nowhere near reading it all. The current Strats squeeze on the eur/usd big boss and boss got me excited, seeing how boss repeatedly retreated from the confluence of the ema kiss and SR in Dec2010, and ending with BEOB last week. This, following the huge big boss BEEB/BEOB at swing high Nov2010, in a downtrend which began mid-2008. This looks like a triple pip move down to SR in the 1.2800 to 1.2700 level, and lower. How do see it Strat? Thanks for all that you’ve been doing to get us newbies up and trading forex profitably.
  • #15,008
  • Dec 23, 2010 3:42pm Dec 23, 2010 3:42pm
Quoting jegwele
Hi Strat, I’m posting for the first time, but I’ve been lurking and reading for several months now – though nowhere near reading it all. The current Strats squeeze on the eur/usd big boss and boss got me excited, seeing how boss repeatedly retreated from the confluence of the ema kiss and SR in Dec2010, and ending with BEOB last week. This, following the huge big boss BEEB/BEOB at swing high Nov2010, in a downtrend which began mid-2008. This looks like a triple pip move down to SR in the 1.2800 to 1.2700 level, and lower. How do see it Strat? Thanks...
Hi Jeg,
Please post your charts to explain your understanding bit more.
Thanks
  • #15,009
  • Dec 23, 2010 5:22pm Dec 23, 2010 5:22pm
Quoting jegwele
Hi Strat, I’m posting for the first time, but I’ve been lurking and reading for several months now – though nowhere near reading it all. The current Strats squeeze on the eur/usd big boss and boss got me excited, seeing how boss repeatedly retreated from the confluence of the ema kiss and SR in Dec2010, and ending with BEOB last week. This, following the huge big boss BEEB/BEOB at swing high Nov2010, in a downtrend which began mid-2008. This looks like a triple pip move down to SR in the 1.2800 to 1.2700 level, and lower. How do see it Strat? Thanks...
Very good observations but unless you have huge accounts, trading the Big Boss and Boss is difficult due to the huge SLs. The secret is to transfer the information from the Big Boss and Boss to the Worker.

The whole key to EURUSD right now is the CONTROLLING Boss hammer on W/E on Dec 03. Until we get a CLOSE outside of this BOSS Hammer, PRICE will continue to slip slide around, up and down that Hammer.
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,010
  • Dec 23, 2010 5:24pm Dec 23, 2010 5:24pm
Quoting trogger
(Nina Simone probably did it better)

Great to see you posting again Alexandra.
Couldn't agree more with this comment, but somewhat puzzled as to why you would associate my post on AUD vs NZD with it?

Guess I am never going to make it as a songwriter, as I obviously can't get my message across by that media! [But that's why I added the comments - and the final line: "I can wait" - because there is no trade.]
Eric Burdon will beat the pants off Nina Simone anytime (my pals tell me he aready has!)
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,011
  • Dec 23, 2010 5:29pm Dec 23, 2010 5:29pm
[quote=patrick25;4260486]
Quoting trogger

Trogger,

The main thing to study and watch for price action is after a confirmed down trend, a hammer shows up, price supposively reverses but a inside candle comes after, give us opportunity to short at discount price. Obviously Something to watch for and study, not suggesting to trade it bindly experience counts on this one. Take Usdchf for example, I openly posted that I will go long above the hammer. Look what happpend, price couldn't go higher and printed red inside candle.
That was a VERY NASTY hammer as it was basic PASR. Had it not been for my cycles not lining up I would have taken that and been taken to the cleaners!
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,012
  • Dec 23, 2010 5:31pm Dec 23, 2010 5:31pm
[quote=Alexandra;4260278]1000 pages and still so many counter trend trades.[/quote

Yes, Alexandra, BUT very profitable for those that know what they are doing - unfortunately, the 95% don't.

Good to see you again, m'dear
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,013
  • Dec 23, 2010 6:10pm Dec 23, 2010 6:10pm
[quote=strat;4263134]
Quoting patrick25

That was a VERY NASTY hammer as it was basic PASR. Had it not been for my cycles not lining up I would have taken that and been taken to the cleaners!
Well, I will take that as encouraging - the knowledge that my thinking is sometimes lining up with your! (I don't want to see anyone taken to the cleaners unless, of course, it happens to be one of the big boys/merchant w*****s!)

I didn't take the hammer either -partly because it is just too big for me on this pair, but mainly because of the previous advice you have given me about caution when we see two opposing candles in close proximity. So with the SS preceding the hammer and an approx 200pip stop... not for me.

Was also inclined to agree with "hcristea" post that someone may be targeting that 94.60 again in the thin markets.

Well, we have gone very close to that 94.60.
and today's candle has just closed on my chart, but a buy on the break to the upside means a pretty big S/L.
Attached Image
  • #15,014
  • Dec 23, 2010 6:15pm Dec 23, 2010 6:15pm
[quote=trogger;4263190]
Quoting strat

Well, I will take that as encouraging - the knowledge that my thinking is sometimes lining up with your! (I don't want to see anyone taken to the cleaners unless, of course, it happens to be one of the big boys/merchant w*****s!)

I didn't take the hammer either -partly because it is just too big for me on this pair, but mainly because of the previous advice you have given me about caution when we see two opposing candles in close proximity. So with the SS preceding the hammer and an approx 200pip stop... not for me.

Was...
As I posted to my subscribers on www.stratsforextrading.com this pair needs to consolidate before jumping in long. Give it time to show us the big boys are in it and then wait for a pull back.
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,015
  • Dec 24, 2010 4:46am Dec 24, 2010 4:46am
I want to wish everyone a Merry Christmass and a prosperious New Year ahead. May 2011 be your best year ever.

See you all in the new year.

Femi
  • #15,016
  • Dec 24, 2010 5:15am Dec 24, 2010 5:15am
Quoting strat
Very good observations but unless you have huge accounts, trading the Big Boss and Boss is difficult due to the huge SLs. The secret is to transfer the information from the Big Boss and Boss to the Worker.

The whole key to EURUSD right now is the CONTROLLING Boss hammer on W/E on Dec 03. Until we get a CLOSE outside of this BOSS Hammer, PRICE will continue to slip slide around, up and down that Hammer.
It seems as if we are going to get it today
Regards
  • #15,017
  • Dec 24, 2010 12:48pm Dec 24, 2010 12:48pm
Here is an extract from the message posted on www.stratsforextrading.com

For those members whose cultures, religions and family traditions celebrate this time of the year, we send to you our warmest, best and most sincere wishes for a safe, joyous and peaceful Christmas and New Year.

This time of year brings around New Year’s resolutions so make sure you include your trading goals in these.

Having done and experienced just about everything there is in trading I know that by teaching the fundamental science of PRICE ACTION and supporting it with committed training and support in a friendly and guided atmosphere with other traders, I give you, our members, the very best chance of making it as a successful and profitable trader.

I will go on record as saying that if you don’t make it here then you will never make it anywhere.


Hopefully, since you are here, you know who and what the Holy Grail is.



However, if your “Little People” get to you, they will convince you there is a certain training, method, system, black box etc., which, when bought and opened, you just simply install their “magic” indicators and you will have $millions in your account the next week.

These are the 95% losing traders who hop from one system to another, frequent all the trading forums and in there, hop from one thread to another in the ever elusive search for the Holy Grail, that one “magic” system that will bring them untold riches.



Reality and experience tells us that you don’t get something for nothing; you get out what you put in. Success does not and will not happen overnight, it will not happen in months, it will take many, many months and for some, even years BUT if you put in the time and effort, it WILL happen.


There will be some who give in too early. This has already happened with some of the students on my FF thread. Where do they go from here? Online marketing? Real Estate? MLM? Or perhaps selling Forex scams like one of my past FF students did?


There will be some of you that think that there are so many free MT4 based programs out there that you can learn and make it on your own. While this is true, the real problem is that you are learning the wrong things, in essence you are learning to trade wrong. You are learning from those who are learners themselves and really don’t know what they are doing yet they have many “blind” followers.

Those people who avoid monthly costs by learning from free MT4 sites are rarely driven to success. Since there is little consequence to perpetuate the learning process, they approach it on a casual, “take it or leave it” basis often giving up in mid stream as they had nothing but time invested.

When you have ongoing monthly expenses you WILL commit to the training and work necessary as you see them as being minimal compared to your trading income and future potential income.

Successful and profitable trading is as much about persistence and determination as technical analysis.

Those who are determined to be successful and profitable traders will be persistent. They will never give up until they achieve their goal.
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,018
  • Dec 24, 2010 1:19pm Dec 24, 2010 1:19pm
Quoting trogger
My true love sent to me,
one shooting star,
two inside bars,
three hanging men
and a doji ....


Pardon the lyrical license - we haven't got three hanging men (or the doji) yet- but we do have an interesting series of bars, suggesting to me that even the "big boys" haven't decided where they want this baby yet.
The NZ current account is out. The deficit is bad, but not as bad as some had predicted. So where is this one going?

I can wait.

Attachment

Now I'm interested.

Merry Christmas to All and a big Thank You to Strat and all the Posters for keeping this great thread alive.
Attached Image
  • #15,019
  • Dec 24, 2010 4:41pm Dec 24, 2010 4:41pm
Quoting trogger
Now I'm interested.

Merry Christmas to All and a big Thank You to Strat and all the Posters for keeping this great thread alive.
Me too but NOT just yet
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,020
  • Dec 26, 2010 7:18am Dec 26, 2010 7:18am
Hello, I tried to do my analysis of forex market in the spirit of Strats trading. So I made a checklist of all majors pairs.

Meaning of abbreviations, criteria (my understanding):
Monthly trend - I look on direction of last 2 or 3 candles for immediate trend. Mostly if 2 of 3 candles are aligned to one direction, it is also monthly immediate direction of trend.
Weekly trend - depends on HHs and HLs for uptrend, swings doesnt have to be confirmed, if there is a new LL in preceding uptrend, I consider it like a strart of new downtrend.
Daily trend - determined by HHs and HLs for uptrend (LLs and LHs for downtrend)
MA (on daily) - the price has to be in the correct position to the EMAs and MA20 has to be higher than MA50 for uptrend

These three criteria are prepared for End Of Day analysis:
PA at SR - check if PA was made on any reasonable SR
retracement 50% - check if was reached 50% retracement of precending move
Signal - the PA, candlestick formation which leads to trade

Note - mostly another confirmations or disagreements from higher timeframes.
Result - the summary, trade only if the direction is the same on all criteria. No countertrend.

So what you think, is it worth to do it and do I have it correct?
Attached File(s)
File Type: xls PASR CHECKLIST 20101225.xls   23 KB | 765 downloads
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