5-min PASS (Price Action Scalper System)

We now have our UP Fracal formed right at the edge of the channel..
Now you need to pounce once you have broken the channel and PA follow through

Sorry I have to step away from my platfom for about an hour for lunch ....

Let me know if how the gbpusd setup worls out. Again, please remember that it is now 1pm EST, and things will slow down considerably and you may not get the favourable movement anymore.

hi pp, i really enjoy your threads,getting ready for gu long...btw im in long on eu...

Nice to have you join us here too ... I know you form my BORC thread , and now you are joining me here. It is nice to have loyalty lol

I really hope you get some pips out of this thread.

Good For 17 pips

Very brave taking this trade this late, but congrats on the 17 pips.

you have had a couple of trade today using this system, correct?

What is your tally for today??

Hi,

Awesome strategy PP! Quick questions is rebelheart last chart for entry to early? 12ema did not cross over for good seperation????

Thanks

I posted this system because I simply do not have the luxury of time needed to actually trade this method effectively. I live in Canada and I am on EST (NY time if you would). I work full time from 9 to 5:30. I drop my daughter off to school at 8:30 am. I have to get some sleep sometime , so EU and London sessions are out. NY session is when I have time, but only when i am not busy at work. Asian session tends to be slow, and only if my kids and wife are not bugging me during the evening can I get to actually check out the Forex market during Tokyo session ( I did last night ) ). I would like to give this system a FAIR TESTING by having other traders who have sometime to actually trade this system and report back their results.

I would like for get a demo account and track its performance here so that viewers can see the power of this system. I was thinking of getting OANDA account as they have the best spreads during active hours (excluding news time as their spreads can be 20-40 pips during news sometimes, but we don't trade news, so who cares). I would then link it to a perfomance tracking site for all to see. If anyone else wants to do the same that would be great. Maybe we can practise and have your questions answered until the end of February and start reporting in March. We can all share results at end of day Friday and report weekly stats if we don't want to link to a site like myfxbooks, etc. If we can all be profitable for three consecutive months in Demo, we can open a very small LIVE account, say about $100 with money you can afford to lose. Once this live account traded is profitably and consistently for three consecutive months, you can go to double amount account ($200) if you would like and then do the same for another 3 months. Once succesful, double it again ($400) and do that for 3 months more. Now, if you are successful, go full out and trade the account balance you like, as at that point in time, you would have had a FULL YEAR experience trading this in all kinds of markets.

Some of us will be more sucessful than other, and may possibly have bigger pips than others, and that can be simply due to the time spent trading and the hours that one is actually available to trade this.

Just my 2 cents

Correct, the 48 EMA had not crossed over both the 12 and 6 EMA. Also, there were no fractal down formed after the three EMA lined up correctly. However, I think Rebel was just "feeling" the sytem and may have had a gut feeling to go short which I actually do sometimes if I am so convinced the price is going down. I also use candle formations to determine if the trend is heating up and seeing the bearish candles that were forming in rebelhear's setup, I could see why he entered early. Alos, the channel was broken down.

If you were to stick to the rules, the entry would be just below the fractal down at 1.6130

Just to add, I would NOT trade this late in the day as action is fairly slow

RebelHeart, care to coment on your trade??? Sorry I took the liberty to answer on your behalf.

This just happened 3 hours ago .. what a pretty formation ... absolute perfection on this one .. did anyone catch this?? I know it breaks the rules of trading past 12 pm, but hey we are still demoing

Full swing would be about 40 pips ,,, if you got only half that, you would have a nice 20 pips in the bank

Entered on the open of the candle with the red vertical line, PA was below all moving averages, also ADX had crossed over giving me more confidence in the short.. I did not include the ADX in any previous pic's as it was not part of PP criteria for taking a position.

Wonderful setup ! Thank you for showing it. However, the important point in trading is discipline i.e. donot break the rules when trader is less experienced. Please donot consider this as a negative response to your post. Staying disciplined is not easy when you see pips are on the horizon !

I am offline now.. please trade the EU/London session if you can and report back

Hey Pureprice thanx for this system, I will spend some time on this.

Could you please past the EMA indicator.

Thanx

I hate to rain on your parade, but this is not a pass setup. The EMA crossovers are not valid at the point of your entry. The use of the ADX is a nice custom touch however.

EURUSD Long at 2nd Fractal point. Missed the 1st one tho..

TP 5pips.

Just noticed the similarities of this strategy to a popular commercial strategy being sold. This should work fairly well.