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5-min PASS (Price Action Scalper System)

  • #1,941
  • Apr 1, 2011 6:29am Apr 1, 2011 6:29am
Here’s my personal general plan:

Scenario I: If the NFP is lower, I mind 120K or worse, and the Unemployment Rate it's also bad (9.0% or worse) then I'd be looking to BUY EURUSD or GBPUSD on a retracement.

Scenario II: If we get a positive NFP release (+250K or better) and the Unemployment Rate remains at 8.9% or better then I will be looking to BUY USDJPY, BUY USDCHF, BUY USDCAD, and I think most JPY crosses will move upwards as well.

Scenario III: If the release it's not clear, and we get a conflict, we will wait and see how the market reacts.
  • #1,942
  • Apr 1, 2011 6:38am Apr 1, 2011 6:38am
Quoting Bull
Here’s my personal general plan:

Scenario I: If the NFP is lower, I mind 120K or worse, and the Unemployment Rate it's also bad (9.0% or worse) then I'd be looking to BUY EURUSD or GBPUSD on a retracement.

Scenario II: If we get a positive NFP release (+250K or better) and the Unemployment Rate remains at 8.9% or better then I will be looking to BUY USDJPY, BUY USDCHF, BUY USDCAD, and I think most JPY crosses will move upwards as well.

Scenario III: If the release it's not clear, and we get a conflict, we will...
What's a good site to get the info as it is released?
Dave Toddler Pip Gatherer
  • #1,943
  • Apr 1, 2011 7:11am Apr 1, 2011 7:11am
Finally the beginning of NY session moved things a little bit.
I wonder where the market's going to head after the news
Attached Image (click to enlarge)
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  • #1,944
  • Apr 1, 2011 7:32am Apr 1, 2011 7:32am
Hi everyone im from Indonesia,
Im new in forexfactory forums and im just interested in this PASS strategy.
I just found this thread 2 days ago and finished reading all the post.
Its a great strategy yet effective and simple, two thums up for pureprice. I've tried the strategy on my Demo account and its profitable results.
I will start to test on real account on monday.
Just some question i want to ask, how do we know that the trend is not about to over? im still having difficult to do a re entry rules.
(sorry if my english is terrible)

Best regards,
Becak
  • #1,945
  • Apr 1, 2011 7:37am Apr 1, 2011 7:37am
Are you Henry Liu? http://www.henryliuforex.com/3251/fo...0111-analysis/

Quoting Bull
Here’s my personal general plan:

Scenario I: If the NFP is lower, I mind 120K or worse, and the Unemployment Rate it's also bad (9.0% or worse) then I'd be looking to BUY EURUSD or GBPUSD on a retracement.

Scenario II: If we get a positive NFP release (+250K or better) and the Unemployment Rate remains at 8.9% or better then I will be looking to BUY USDJPY, BUY USDCHF, BUY USDCAD, and I think most JPY crosses will move upwards as well.

Scenario III: If the release it's not clear, and we get a conflict,...
  • #1,946
  • Apr 1, 2011 7:40am Apr 1, 2011 7:40am
The release was good for the US, as you can see, and I mentioned early, the EU fall more than 50 pips for the good news. I hope that somebody can catch this move.

Argentino: I use Bloomberg and TradeTheNews.com, unfortunatelly boths services have some cost.
  • #1,947
  • Apr 1, 2011 7:54am Apr 1, 2011 7:54am
Quoting cmac0351
Are you Henry Liu? http://www.henryliuforex.com/3251/fo...0111-analysis/
Hi cmac0351, not, I'm not him... Henry is one of the best interpreter of fundamental... I'm also trade news from more than 10 years specially the NFP and another important news. Every hot day like today I write some recommendations for a group of trader that I mentored a few years ago, and I compare my point of view with others (like Henry).

My intention to share this with all of us is give an extra idea of Fundamental, follow the Henry site will be a very good idea for all of you that want to find another way to trade... sometimes my opinion agree with him... sometime not.
  • #1,948
  • Apr 1, 2011 7:59am Apr 1, 2011 7:59am
OK, so after the long and painful wait for the NFP report -trust me, I stayed up all night watching bars do nothing for us, it was painful- what happens now with PASS? Is there a "cool down period"? Do we stay in the "penalty box" for a couple minutes? Or just carry on normally from this point forth?
Dave Toddler Pip Gatherer
  • #1,949
  • Apr 1, 2011 7:59am Apr 1, 2011 7:59am
Hi All,

I read this thread yesterday and am new to this system. I am posting a chart from last night hoping i understand the setup. This was GBP/USD from last night around 10pm EST.

Was this a valid PASS setup?

Attached Image (click to enlarge)
Click to Enlarge Name: chart1.jpg Size: 143 KB
  • #1,950
  • Apr 1, 2011 8:12am Apr 1, 2011 8:12am
Quoting cmac0351
Hi All,

I read this thread yesterday and am new to this system. I am posting a chart from last night hoping i understand the setup. This was GBP/USD from last night around 10pm EST.

Was this a valid PASS setup?

Attachment
Yes Cmac, the set up was perfect... all ema's converge... entry 2 pips above the last fractal up... SL at the last fractal down... was a clear PASS trade
  • #1,951
  • Apr 1, 2011 8:17am Apr 1, 2011 8:17am
Quoting Bull
Yes Cmac, the set up was perfect... all ema's converge... entry 2 pips above the last fractal up... SL at the last fractal down... was a clear PASS trade
Question: I'm new to this system too and that's why I didn't want to answer... But there seems to be a fractal up that formed at around 1.40 or so. Would that not be an acceptable entry, with tighter stops? I'm trying to learn this myself, so I'm not challenging your answer in any way
Dave Toddler Pip Gatherer
  • #1,952
  • Apr 1, 2011 8:19am Apr 1, 2011 8:19am
Quoting Bull
Yes Cmac, the set up was perfect... all ema's converge... entry 2 pips above the last fractal up... SL at the last fractal down... was a clear PASS trade
That trade was painfully slow last night.
With God all things are possible.
  • #1,953
  • Apr 1, 2011 8:21am Apr 1, 2011 8:21am
Here is a clear picture of how you can apply PASS after the NFP... btw this is my trade.
Attached Image (click to enlarge)
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  • #1,954
  • Apr 1, 2011 8:21am Apr 1, 2011 8:21am
Thanks for sharing this amazing system with us. I have already locked in 50 pips on the Usd/Chf this morning.
  • #1,955
  • Apr 1, 2011 8:27am Apr 1, 2011 8:27am
NFP day

what a ride to miss

I think I may have to pul my daughter out of school so I don't miss all the 8:30 news action
  • #1,956
  • Apr 1, 2011 8:31am Apr 1, 2011 8:31am
Quoting Bull
Here is a clear picture of how you can apply PASS after the NFP... btw this is my trade.
yep, its a winning trade but I am not sure whether you should enter 10 mins before the news release unless you know already what the news is!! Luckily it was good news for USD... what if it was not ???
  • #1,957
  • Apr 1, 2011 8:34am Apr 1, 2011 8:34am
PP, could you confirm a long entry setting up for me? The only thing holding me back on this is that it's making new highs... Thanks!
Dave Toddler Pip Gatherer
  • #1,958
  • Apr 1, 2011 8:36am Apr 1, 2011 8:36am
Quoting argentino
PP, could you confirm a long entry setting up for me? The only thing holding me back on this is that it's making new highs... Thanks!

can you please post chart??
  • #1,959
  • Apr 1, 2011 8:39am Apr 1, 2011 8:39am
Quoting PurePrice
can you please post chart??
I will next time. Price has since moved below emas, so no trade here!
Dave Toddler Pip Gatherer
  • #1,960
  • Apr 1, 2011 8:41am Apr 1, 2011 8:41am
PP,
Are you watching this pair to go SHORT now below 15986 or so ?
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