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5-min PASS (Price Action Scalper System)

  • #61
  • Feb 15, 2011 10:16am Feb 15, 2011 10:16am
I hope this helps with the rules
Attached Image (click to enlarge)
Click to Enlarge Name: mt19.gif Size: 41 KB
  • #62
  • Feb 15, 2011 10:20am Feb 15, 2011 10:20am
Quoting Survivor
Good work Pureprice. I have been trading MAs. This looks very promising to me. Keep up the good work. Greatly appreciated.

Nice to have you join us here too survivor. And thank you for your kind words
  • #63
  • Feb 15, 2011 10:22am Feb 15, 2011 10:22am
Quoting rebelheart
Close to pivot and round number but it has to be broken at some point... Would you take this entry PP

did you actually take this trade, Rebel? If so, how did you do????
  • #64
  • Feb 15, 2011 10:23am Feb 15, 2011 10:23am
Quoting PurePrice
I hope this helps with the rules

Hi PP, this diagram is excellent! it's clearer now, thanks!
  • #65
  • Feb 15, 2011 10:27am Feb 15, 2011 10:27am
Quoting kedridder
Hi PP, this diagram is excellent! it's clearer now, thanks!
You are most welcome. glad I could be of assistance. Pleae practise this method for a few days, and you will start to see its power, especially in the opening hours of each session.
  • #66
  • Edited 10:30am Feb 15, 2011 10:28am | Edited 10:30am
Quoting PurePrice
I hope this helps with the rules
Hi PurePrice,
Thanks for sharing the system.

You mentioned about taking a long trade 2 pips above the 1st up fractal after having met the 1st and 2nd condition. What if there is 2nd and 3rd up fractal (but at lower high) form and PA never broke above the 1st up fractal. So which fractal should be the correct one to consider. The current EU is a good example.

Thanks.
Road to financial freedom
  • #67
  • Feb 15, 2011 10:29am Feb 15, 2011 10:29am
Quoting Arnold49
will you take the trade if EU goes down again or is it a one shot deal, then wait for a trade in the opposite direction?
thanks,
Steve.

Sometimes I will if you get a setup again in the same direction.
  • #68
  • Feb 15, 2011 10:32am Feb 15, 2011 10:32am
Quoting fx26
Hi PurePrice,
Thanks for sharing the system.

You mentioned about taking a long trade 2 pips above the 1st up fractal after having met the 1st and 2nd condition. What if there is 2nd and 3rd up fractal (but at lower high) form and PA never broke above the 1st up fractal. So which fractal should be the correct one to consider. The current EU is a good example.

Thanks.

The EURUSD is currently in SHORt direction as the EMAs are lined up for short not long. Please post a chart with your questions marked as that is easier for everyone to understand, espcially me as I am getting old
  • #69
  • Feb 15, 2011 10:40am Feb 15, 2011 10:40am
Quoting PurePrice
You are most welcome. glad I could be of assistance. Pleae practise this method for a few days, and you will start to see its power, especially in the opening hours of each session.

thank u PP! thanks for sharing
  • #70
  • Feb 15, 2011 10:47am Feb 15, 2011 10:47am
GU setting up
  • #71
  • Feb 15, 2011 10:53am Feb 15, 2011 10:53am
Thanks for sharing Pureprice, system looks nice and simple.

Have you traded this on higher TFs?
  • #72
  • Feb 15, 2011 11:01am Feb 15, 2011 11:01am
Quoting Arnold49
GU setting up

Careful taking this trade as EMA48 is to far from the other two EMAs, in addition to the price being at R2. AND the trend has been UP since this morning.
  • #73
  • Feb 15, 2011 11:04am Feb 15, 2011 11:04am
Quoting PurePrice
Careful taking this trade as EMA48 is to far from the other two EMAs, in addition to the price being at R2. AND the trend has been UP since this morning.

Better choice would be re-entry SHORT on the eurusd around 13495
  • #74
  • Feb 15, 2011 11:25am Feb 15, 2011 11:25am
Quoting PurePrice
Careful taking this trade as EMA48 is to far from the other two EMAs, in addition to the price being at R2. AND the trend has been UP since this morning.

not sure I understand, the other 2 MA's have crossed the 48ema.
anyway, it's getting a bit late in the day for trading for me, had two wins today, so that's enough, thanks for sharing this system.

Steve.
  • #75
  • Feb 15, 2011 11:27am Feb 15, 2011 11:27am
Thanks pureprice for this wonderful indicators. I understand it fully and will try out asian open tomorrow.
  • #76
  • Feb 15, 2011 11:36am Feb 15, 2011 11:36am
Entry on Red vertical line out for 24 pips.. Price was in a downward chanel
Attached Image
  • #77
  • Feb 15, 2011 11:44am Feb 15, 2011 11:44am
Although it is past 12 pm EST, we may get a last chance at a long gbpusd here sooooon

1- Price has bounced off the R2 level up
2- EMA are in perfect point formation now
3- Price starting to rise up above the HK candles and EMAs
4- We have blue HA candles
5- We need a fractal up to form and then we wil go long just above it if it happens soon
Attached Image (click to enlarge)
Click to Enlarge Name: mt19.gif Size: 37 KB
  • #78
  • Feb 15, 2011 11:46am Feb 15, 2011 11:46am
Quoting rebelheart
Entry on Red vertical line out for 24 pips.. Price was in a downward chanel

Excellent work there Rebel. I think you are "getting" the system and can read PA

wish you many pips
  • #79
  • Feb 15, 2011 11:52am Feb 15, 2011 11:52am
Quoting PurePrice
Although it is past 12 pm EST, we may get a last chance at a long gbpusd here sooooon

1- Price has bounced off the R2 level up
2- EMA are in perfect point formation now
3- Price starting to rise up above the HK candles and EMAs
4- We have blue HA candles
5- We need a fractal up to form and then we wil go long just above it if it happens soon

I say this is price action based system, and that is why you ned to know where your price is headed. In this case, I would not jump in long until I've cleared the channel convincingly.
This is where the system takes practice and some experience
Attached Image (click to enlarge)
Click to Enlarge Name: mt19.gif Size: 35 KB
  • #80
  • Feb 15, 2011 11:56am Feb 15, 2011 11:56am
i can see e up-arrow fractal coming up at 1.6149
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