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5-min PASS (Price Action Scalper System)

  • #641
  • Feb 28, 2011 8:02am Feb 28, 2011 8:02am
New SL at 1.01703.... New Fractal Down
Attached Image (click to enlarge)
Click to Enlarge Name: au 2802 2.gif Size: 31 KB
  • #642
  • Feb 28, 2011 8:20am Feb 28, 2011 8:20am
NZDUSD...this one lost...

The trade was triggerred because of News I believe...and I got a 2 pip slippage...

Any comments are welcome
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NU.png Size: 57 KB
Click to Enlarge Name: NU2.png Size: 54 KB
  • #643
  • Feb 28, 2011 8:32am Feb 28, 2011 8:32am
Ok, finally the trade was closed a few minutes ago when the SL was reached.

Entry : 1.01515
Exit : 1.01703

Net Profit : 18,8 pips

And, the most important... as you can see on the chart, this trade was very safe and never was against us.
Attached Image (click to enlarge)
Click to Enlarge Name: au 2802 3.gif Size: 33 KB
  • #644
  • Feb 28, 2011 8:38am Feb 28, 2011 8:38am
Quoting Bull
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.
I´m sorry but I don´t get it... you´ve opened this trade even before price crossed the white EMA...

Please explain it to me

THX
Lose small, WIN BIG..
  • #645
  • Feb 28, 2011 8:41am Feb 28, 2011 8:41am
this one looks like it may finally move up and break the resistance level at 16243. I would go long above this level
  • #646
  • Feb 28, 2011 8:43am Feb 28, 2011 8:43am
Quoting ag_fx
NZDUSD...this one lost...

The trade was triggerred because of News I believe...and I got a 2 pip slippage...

Any comments are welcome

You can't win them all, especially during news. Jus tmake sure you have an SL in place. Please remember this is not a perfect system, as NO system is. Plus the 5-min chart looked pretty messy, and there was no clear direction.
  • #647
  • Feb 28, 2011 8:45am Feb 28, 2011 8:45am
Quoting PurePrice
this one looks like it may finally move up and break the resistance level at 16243. I would go long above this level
News in 15 mins, so we will see what is going to happen.
  • #648
  • Feb 28, 2011 8:48am Feb 28, 2011 8:48am
Quoting PurePrice
You can't win them all, especially during news. Jus tmake sure you have an SL in place. Please remember this is not a perfect system, as NO system is. Plus the 5-min chart looked pretty messy, and there was no clear direction.
I am not bothered that it lost...part and parcel of trading..I just want to ensure that if I missed any relevant thing..

one thing i noted was i punched it too close to News...though it did not whip, it surely slipped me by 2 pips...

Screen time will improve the spotting of direction im sure..
  • #649
  • Feb 28, 2011 8:50am Feb 28, 2011 8:50am
Quoting Pmg.g
I´m sorry but I don´t get it... you´ve opened this trade even before price crossed the white EMA...

Please explain it to me

THX
Hi Pmg, yes, as you can see on my first chart, when I opened the trade, the price was below the white EMA.... at these time, Fractal Up was 1.01515 and White EMA(48) was 1.01525 (only 1 pip).

Why I entered the trade????.... for many reasons....

  1. I'm always look before on a higher TF the Trend... if you move to 1H or 30m you can see a clear bullish sentiment, right???
  2. After that, I feel more comfortable to take Long trades....
  3. As I mentioned before, HK change to Blue .... candles began to formed above HK... and the potential risk was a few (9) pips...


Please if you have any question don't hesitate in ask me again.

Bull

  • #650
  • Feb 28, 2011 9:10am Feb 28, 2011 9:10am
Quoting PurePrice
this one looks like it may finally move up and break the resistance level at 16243. I would go long above this level

Hmm, this is hanging around the 16240 level now. May explode soon
  • #651
  • Feb 28, 2011 9:13am Feb 28, 2011 9:13am
sell
Attached Image (click to enlarge)
Click to Enlarge Name: pass eu sell.gif Size: 31 KB
Lose small, WIN BIG..
  • #652
  • Feb 28, 2011 9:13am Feb 28, 2011 9:13am
does anyone know???
  • #653
  • Feb 28, 2011 9:17am Feb 28, 2011 9:17am
is making a second push up
  • #654
  • Feb 28, 2011 9:18am Feb 28, 2011 9:18am
Quoting Pmg.g
sell

Be careful on this one as 15-min and 60-min TF EMAs are lined up LONG.
  • #655
  • Feb 28, 2011 9:20am Feb 28, 2011 9:20am
Quoting PurePrice
Hmm, this is hanging around the 16240 level now. May explode soon

Explosion is hapening now
  • #656
  • Feb 28, 2011 9:21am Feb 28, 2011 9:21am
Quoting PurePrice
Explosion is hapening now
Out at 16267 for 22 pips
  • #657
  • Feb 28, 2011 9:22am Feb 28, 2011 9:22am
Quoting PurePrice
Out at 16267 for 22 pips

This gives me my 2%+ per day
  • #658
  • Feb 28, 2011 9:27am Feb 28, 2011 9:27am
Quoting PurePrice
This gives me my 2%+ per day
Nice work PP.
Anyway thanks a lot for this thread!
  • #659
  • Feb 28, 2011 9:30am Feb 28, 2011 9:30am
Quoting PurePrice
Be careful on this one as 15-min and 60-min TF EMAs are lined up LONG.

I just looked agian at eurusd 5-min chart .. you are entering right short at support level which is likely to cause a bounce up ... not advised
  • #660
  • Feb 28, 2011 9:34am Feb 28, 2011 9:34am
looking to go down a few pips below reistance level (now support)??

higher TFs say it is LONG, so if you want to enter this one, go in and out real quick for a few pips only
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