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5-min PASS (Price Action Scalper System)

  • #621
  • Feb 28, 2011 12:56am Feb 28, 2011 12:56am
Quoting kauaibobby
do your indicators repaint themselves
nice trading
thank you
The prime arsenal in this system is the use of Price Action aided by moving averages and fractals.

MAs do not repaint. Fractals, they are sometimes tricky to catch,but then they are not the triggers and hence not a problem.
  • #622
  • Feb 28, 2011 1:08am Feb 28, 2011 1:08am
Hi PP and ag_fx.. Do we take both long and sell signals? Ive read the whole thread and theres no rules saying u can only take long or short only depending on major trend..for example, the euro long signal in todays Asian session could be considered countertrend move (below 200sma). So we take both long and short signal?
  • #623
  • Feb 28, 2011 1:16am Feb 28, 2011 1:16am
Quoting iezzzwan
Hi PP and ag_fx.. Do we take both long and sell signals? Ive read the whole thread and theres no rules saying u can only take long or short only depending on major trend..for example, the euro long signal in todays Asian session could be considered countertrend move (below 200sma). So we take both long and short signal?
I would leave the final answer to PP, but for me, I would consider trading both sides. However, my decision will be based upon how the three MAs are stacked up and how the price is behaving in higher TFs.
The system tries to catch momentum trades on breakouts and thus the trades are short term in nature. Within one major trend(on daily or H4), there will be plenty of trends and counter trends. As small TF trader, I would only look upto M15 or M30 chart for deciding the general feel of the market.

I would not use 200SMA for trend determination.

Just my 2 cents.
  • #624
  • Feb 28, 2011 1:43am Feb 28, 2011 1:43am
Quoting ag_fx
I would leave the final answer to PP, but for me, I would consider trading both sides. However, my decision will be based upon how the three MAs are stacked up and how the price is behaving in higher TFs.
The system tries to catch momentum trades on breakouts and thus the trades are short term in nature. Within one major trend(on daily or H4), there will be plenty of trends and counter trends. As small TF trader, I would only look upto M15 or M30 chart for deciding the general feel of the market.

I would not use 200SMA for trend determination....
Thanks for ur input. i usually trade the 4H and daily timeframe, i have no experience scalping these lower tframes. As u mentioned, the key to the setup is catch the momentum of the breakout. i keep that in mind.
  • #625
  • Feb 28, 2011 3:06am Feb 28, 2011 3:06am
Long AUDUSD?
Attached Image (click to enlarge)
Click to Enlarge Name: audusd pass 1.gif Size: 31 KB
Lose small, WIN BIG..
  • #626
  • Feb 28, 2011 4:56am Feb 28, 2011 4:56am
Another valid trade on GU....during London Session....

I wasnt tracking the market...was busy at work...

Btw, I need some help on the Pivots indicator...it calculates on Sunday candle too..as a result for MOnday, the pivots are badly displayed....any thoughts how to ensure it does not use Sunday candle?
Attached Image (click to enlarge)
Click to Enlarge Name: GU_001.png Size: 47 KB
  • #627
  • Feb 28, 2011 5:29am Feb 28, 2011 5:29am
Quoting ag_fx
Another valid trade on GU....during London Session....

I wasnt tracking the market...was busy at work...

Btw, I need some help on the Pivots indicator...it calculates on Sunday candle too..as a result for MOnday, the pivots are badly displayed....any thoughts how to ensure it does not use Sunday candle?
Hi Ag,
try this pivot indicator
Attached File(s)
File Type: ex4 PivotsDWM.ex4   9 KB | 339 downloads
File Type: mq4 PivotsDWM.mq4   10 KB | 355 downloads
Lose small, WIN BIG..
  • #628
  • Feb 28, 2011 6:16am Feb 28, 2011 6:16am
I just logged on and my jaw just about dropped at the setups we had overnight in both EUR and GBP based pairs.

For those of you traders who trade the eu/london session, I really hope you caught the move and banked some pips out of it.

Sorry ag, you were not sleeping but you were working, which is my case in NY lol .. I sleep during eu/london and I work during NY, and I have family to spend tie with during tokyo session ... everythings gets in teh way of trading

Looks liek nothing is setting up right now, may have to wait for the NY session as there is PLENTY of news out at 8:30 EST
  • #629
  • Feb 28, 2011 6:17am Feb 28, 2011 6:17am
Quoting Pmg.g
Hi Ag,
try this pivot indicator

Thank you Pmg for posting the indicators. I will give them a try as well.
  • #630
  • Feb 28, 2011 6:24am Feb 28, 2011 6:24am
this is the only pair that looks like it has a potential to setup Long. Note that the pair is in a downtrend channel right now (draw your channel lines), and it is at the upper boundary of the channel and it may break out of it to the long side soon.
  • #631
  • Feb 28, 2011 6:36am Feb 28, 2011 6:36am
Quoting PurePrice
this is the only pair that looks like it has a potential to setup Long. Note that the pair is in a downtrend channel right now (draw your channel lines), and it is at the upper boundary of the channel and it may break out of it to the long side soon.

It has broken out of the channel and may now retrace back to the boundry again before taking off long again .. lets see if we get a fractal up and see it broken again.
  • #632
  • Feb 28, 2011 6:46am Feb 28, 2011 6:46am
setting up long
  • #633
  • Feb 28, 2011 6:48am Feb 28, 2011 6:48am
Quoting PurePrice
setting up long

Uhmm.. looks like this pair is "frozen" on my platform .. scratch my recommendation as I am not sure what the heck is going on as this chart is not updating
  • #634
  • Feb 28, 2011 6:51am Feb 28, 2011 6:51am
Quoting PurePrice
Uhmm.. looks like this pair is "frozen" on my platform .. scratch my recommendation as I am not sure what the heck is going on as this chart is not updating

It is updating .. i guess the pair did not move in the last 10 minutes.. oh well .. keep it on your radar screen
  • #635
  • Feb 28, 2011 6:53am Feb 28, 2011 6:53am
Quoting PurePrice
It has broken out of the channel and may now retrace back to the boundry again before taking off long again .. lets see if we get a fractal up and see it broken again.

It is retracing as expected, it has formed a fractal up as expected, now lets watch PA to see wht it does. Again, news in just over 30 minutes so be careful
  • #636
  • Feb 28, 2011 7:10am Feb 28, 2011 7:10am
some of its upmove, and we may get a chance to get in long again after the news, if the news is in our favour (long)
  • #637
  • Feb 28, 2011 7:11am Feb 28, 2011 7:11am
Thank you Pure Price for confirming...........HARIOM
  • #638
  • Feb 28, 2011 7:13am Feb 28, 2011 7:13am
Quoting PurePrice
some of its upmove, and we may get a chance to get in long again after the news, if the news is in our favour (long)
Are you placing pending Longs?
  • #639
  • Feb 28, 2011 7:16am Feb 28, 2011 7:16am
Quoting Pmg.g
Hi Ag,
try this pivot indicator
Thanks PMG....I will try them..I like when people share mq4 codes..it helps to modify some bit with a little programming knowledge.
  • #640
  • Feb 28, 2011 7:16am Feb 28, 2011 7:16am
Here is the Trade on AUD/USD....

Entry: 1.01515
First SL: 1.01421

Actual SL: 1.01635

As you can see I'm still in, in a free trade.

As per rules, I entered into the trade at break on on Up Fractal formed above the price, HK in blue and candles above HK.

As soon as I entered the Trade, I set the SL at 1.01421, last down fractal.

Then move my SL to the new down fractal and now I'm in with a free trade.
Attached Image (click to enlarge)
Click to Enlarge Name: au 2802.gif Size: 34 KB
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