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5-min PASS (Price Action Scalper System)

  • #1,281
  • Mar 17, 2011 9:26am Mar 17, 2011 9:26am
Please ignore previous posts.

Quoting kedridder
FF, i'll love to have zero loss. which post # are u refering to?
  • #1,282
  • Mar 17, 2011 9:28am Mar 17, 2011 9:28am
Quoting forexforex
Hi Followers,
If you followed what I delineated in the chart, you would have zero loss in all the triggers. It is that simple trading! Please read it again

FF
Are you referring to this method or did you post here accidentally?? as I do not see anything from you previously on this thread.
  • #1,283
  • Mar 17, 2011 9:29am Mar 17, 2011 9:29am
Quoting forexforex
Please ignore previous posts.

AH HUH .. thought so.
  • #1,284
  • Mar 17, 2011 9:32am Mar 17, 2011 9:32am
we have EMAs lined up for short, we have our downfractal formed already below the EMAs. However, the higher Tf are calling for long ... Also round number 1.6100 is there
  • #1,285
  • Mar 17, 2011 9:36am Mar 17, 2011 9:36am
What about this guys? Currently happening on the EU.
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  • #1,286
  • Mar 17, 2011 9:38am Mar 17, 2011 9:38am
Quoting PurePrice
we have EMAs lined up for short, we have our downfractal formed already below the EMAs. However, the higher Tf are calling for long ... Also round number 1.6100 is there

ya, i'm in short, for this trade 14 mins ago.
  • #1,287
  • Mar 17, 2011 9:45am Mar 17, 2011 9:45am
Quoting Tonie_Fx
What about this guys? Currently happening on the EU.
Hi Tonie,

Thanks for posting your chart.

looks good, and again, it is round number 1.4000 that you are entering this trade, so it maybe whippy around this number, in addition to the fact that there is also R1 line right where you are entering, and that higher TF are long, so be careful. If those three factors were not there, then it is a perfect entry
  • #1,288
  • Mar 17, 2011 9:48am Mar 17, 2011 9:48am
Quoting Tonie_Fx
What about this guys? Currently happening on the EU.

i entered at 13:35gmt and stopped out now, -12PIPs
  • #1,289
  • Mar 17, 2011 9:49am Mar 17, 2011 9:49am
Quoting PurePrice
Hi Tonie,

Thanks for posting your chart.

looks good, and again, it is round number 1.4000 that you are entering this trade, so it maybe whippy around this number, in addition to the fact that there is also R1 line right where you are entering, and that higher TF are long, so be careful. If those three factors were not there, then it is a perfect entry

hi PP, where is the R1 line and which higher TF is long? i got stopped out both eurusd and gbpusd.
  • #1,290
  • Mar 17, 2011 9:52am Mar 17, 2011 9:52am
Quoting PurePrice
Hi Tonie,

Thanks for posting your chart.

looks good, and again, it is round number 1.4000 that you are entering this trade, so it maybe whippy around this number, in addition to the fact that there is also R1 line right where you are entering, and that higher TF are long, so be careful. If those three factors were not there, then it is a perfect entry

Hi PurePrice,

I'm still a newbie at your system, so didn't thought about those extra factors you mentioned. We'll have to get used to it for some time, but thanks for sharing it with us, looks nice and simple.
  • #1,291
  • Mar 17, 2011 9:55am Mar 17, 2011 9:55am
Quoting kedridder
hi PP, where is the R1 line and which higher TF is long? i got stopped out both eurusd and gbpusd.

On Tonie's posted chart, R1 line is the red dotted line.

Higher TF mean that you make sure that the EMAs are lined up on the 15-min and 60-min TFs in the same diretions as your trade. In this case, you are entering short , make sure that EMA6<EMA12<EMA48 on the 15min and 60min charts.

ALSO as mentioned above both entries were at round numbers which tend to be nice suport levels (in the short term at least)
  • #1,292
  • Mar 17, 2011 9:58am Mar 17, 2011 9:58am
Quoting Tonie_Fx
Hi PurePrice,

I'm still a newbie at your system, so didn't thought about those extra factors you mentioned. We'll have to get used to it for some time, but thanks for sharing it with us, looks nice and simple.

I understand. I knwo the "basic" riles are simple and effective in mos cases. However, being aware of your resistance and support levels and higher timefraem trends are very important in order to succeed in any trading system, not just this one. It takes a litle bit of screen time and experience to gt used to looking at all factors before entering and not just the basic rules :d
  • #1,293
  • Mar 17, 2011 10:00am Mar 17, 2011 10:00am
Quoting PurePrice
On Tonie's posted chart, R1 line is the red dotted line.

Higher TF mean that you make sure that the EMAs are lined up on the 15-min and 60-min TFs in the same diretions as your trade. In this case, you are entering short , make sure that EMA6<EMA12<EMA48 on the 15min and 60min charts.

ALSO as mentioned above both entries were at round numbers which tend to be nice suport levels (in the short term at least)

Hi PP,
1. how does R1 play a part in quantifying trades in future?
2. we're trading the M5 chart. other than EMA6<EMA12<EMA48, we have to ensure EMA6<EMA12<EMA48 on 15M and 1H charts as well?
  • #1,294
  • Mar 17, 2011 10:16am Mar 17, 2011 10:16am
Quoting kedridder
Hi PP,
1. how does R1 play a part in quantifying trades in future?
2. we're trading the M5 chart. other than EMA6<EMA12<EMA48, we have to ensure EMA6<EMA12<EMA48 on 15M and 1H charts as well?

I have those rules somewhere ... I just don't know when I posted them. I also talked about those in many of my posted setups. I know this is not helpful, but you may wish to please review the thread posts by me thoughout.

in summary, The R1,R2,R3,S1,S2,S3 and PP levels are drawn by the AFST indicator for you. Those are daily pivot/R/S levels that you need to be aware of while you are trading. The represent possible daily support and resistance areas at which price will likely to react, So I am careful when entering around those levels, and I use those levels to take profit sometimes.

The higher Timeframes are there to confirm the direction of your trade. You want to check the alignment of the EMAs on teh 15-min and 60-min to be in same direction as your trade if you want to stay in the trade long. However if they are against you and you REALLY WANT to get in the 5-min TF, make sure your TP is fairly small.
  • #1,295
  • Mar 17, 2011 10:19am Mar 17, 2011 10:19am
looks like they are now setting up for a LONG. this would be in line with higher TFs, and as a result of a bounce off the round number and R1, a long entry would make perfect sense, once we have all are 5-min TF trigger signasl in place.
  • #1,296
  • Mar 17, 2011 10:24am Mar 17, 2011 10:24am
Quoting PurePrice
looks like they are now setting up for a LONG. this would be in line with higher TFs, and as a result of a bounce off the round number and R1, a long entry would make perfect sense, once we have all are 5-min TF trigger signasl in place.
you are LONG-baised now, because 15M and 5M chart shows the EMAs stacked in the Long trade bias. is this conclusion correct?
  • #1,297
  • Mar 17, 2011 10:26am Mar 17, 2011 10:26am
DAAAAAAMN
  • #1,298
  • Mar 17, 2011 10:27am Mar 17, 2011 10:27am
Quoting kedridder
you are LONG-baised now, because 15M and 5M chart shows the EMAs stacked in the Long trade bias. is this conclusion correct?

Yes, but not just 15min, I need 60 min to be long that way too, before entering on 5-min
  • #1,299
  • Mar 17, 2011 10:33am Mar 17, 2011 10:33am
Quoting PurePrice
Yes, but not just 15min, I need 60 min to be long that way too, before entering on 5-min

i see. please let me know when a pair comes to your radar, so i can see how its like, for your criteria to form. thanks
  • #1,300
  • Mar 17, 2011 10:34am Mar 17, 2011 10:34am
I just got 21.8 pips from the eurusd pair because I had entered early.I was also watching the gbpusd to the the detriment of the eurjpy that shot up over 50 pips.
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