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5-min PASS (Price Action Scalper System)

  • #2,181
  • Apr 6, 2011 3:02pm Apr 6, 2011 3:02pm
Quoting PurePrice
with ECB coming up tomorrow the eur might rally if we get a hike in interest rates and hawkish comments that rate increases are to continue. I think 25 basis points have alreasy been priced into the eur (via this rally we are having in the past couple days) .. we shall see
last 2 hrs our cable trade is range boundign between 328 and 334.
  • #2,182
  • Apr 6, 2011 3:04pm Apr 6, 2011 3:04pm
Quoting PurePrice
with ECB coming up tomorrow the eur might rally if we get a hike in interest rates and hawkish comments that rate increases are to continue. I think 25 basis points have alreasy been priced into the eur (via this rally we are having in the past couple days) .. we shall see
isn't it BOE ( GBP) rate news tomorrow, not ECB ??
  • #2,183
  • Edited 3:43pm Apr 6, 2011 3:29pm | Edited 3:43pm
[.quote=PurePrice;4526641]Yep, that is very typical

However, having the power of hindsight and all the time in the world to analyse this trade after the fact, and having my emotions aside, and not being in the trade myself, I could tell you why I "think" the trde went against you to start with.

Let me start by saying if you were just applying the PASS rules as is, then this would be a correct entry, as EMAs were long, and the candle closed nicely above the MCTL line....[/quote]

You can afford to be a millionaire .Open an account with $650 risking 1%(10 pips) and aiming for at 60 pips daily(300 pips weekly).Using the power of compounding you should get there within 6-7 months.Change your lot size at the end of the week.Just sit down with your wife and do the calculation.Zeen
With God all things are possible.
  • #2,184
  • Apr 6, 2011 3:37pm Apr 6, 2011 3:37pm
Quoting Anu_
isn't it BOE ( GBP) rate news tomorrow, not ECB ??
ECB for EUR...
  • #2,185
  • Apr 6, 2011 4:01pm Apr 6, 2011 4:01pm
I like the look of this, definately an enhanced version of Cubbybgood's 123, problem with that one was finding correct entries, ie not hitting the trend too late.
Will give it a whirl at London open tommorow.
  • #2,186
  • Apr 6, 2011 4:12pm Apr 6, 2011 4:12pm
Quoting Anu_
isn't it BOE ( GBP) rate news tomorrow, not ECB ??

Both are due out tomorrow actually
  • #2,187
  • Apr 6, 2011 4:13pm Apr 6, 2011 4:13pm
Quoting Dehyah
[.quote=PurePrice;4526641]Yep, that is very typical

However, having the power of hindsight and all the time in the world to analyse this trade after the fact, and having my emotions aside, and not being in the trade myself, I could tell you why I "think" the trde went against you to start with.

Let me start by saying if you were just applying the PASS rules as is, then this would be a correct entry, as EMAs were long, and the candle closed nicely above the MCTL line....
You can afford to be a millionaire .Open an account with $650 risking 1%(10 pips) and aiming for at 60 pips daily(300 pips weekly).Using the power of compounding you should get there within 6-7 months.Change your lot size at the end of the week.Just sit down with your wife and do the calculation.Zeen[/quote]


yeah, 60 pips daily is pretty easy to achieve .. no problems there
  • #2,188
  • Apr 6, 2011 4:15pm Apr 6, 2011 4:15pm
Quoting forex1962
I like the look of this, definately an enhanced version of Cubbybgood's 123, problem with that one was finding correct entries, ie not hitting the trend too late.
Will give it a whirl at London open tommorow.
No idea who Cubbygood is, but good luck with PASS, and pls report back your results
  • #2,189
  • Apr 6, 2011 4:16pm Apr 6, 2011 4:16pm
Quoting Anu_
last 2 hrs our cable trade is range boundign between 328 and 334.
well, all the big guys have gone home, that is very typical. Will need Tokyo open to push it up again, just like yesterday
  • #2,190
  • Apr 6, 2011 4:23pm Apr 6, 2011 4:23pm
Midnight closing in, time to snuff the candles.

Good night and see you tomorrow. If I can manage some nice trade, I'll start posting charts as well.
  • #2,191
  • Apr 7, 2011 12:50am Apr 7, 2011 12:50am
Hello all,
How's USDCHF looking for short to you guys?
Dave Toddler Pip Gatherer
  • #2,192
  • Apr 7, 2011 1:09am Apr 7, 2011 1:09am
Quoting argentino
Hello all,
How's USDCHF looking for short to you guys?
setting upfor a long.... lets keep a watch
  • #2,193
  • Apr 7, 2011 1:12am Apr 7, 2011 1:12am
Quoting argentino
Hello all,
How's USDCHF looking for short to you guys?
If 0.9175 support area gets decisively broken, of course
Dave Toddler Pip Gatherer
  • #2,194
  • Apr 7, 2011 1:18am Apr 7, 2011 1:18am
Hi Guys

Does EURUSD look like a reentry for a short @ 1.43008 ?
  • #2,195
  • Apr 7, 2011 1:31am Apr 7, 2011 1:31am
Quoting winpips
Hi Guys

Does EURUSD look like a reentry for a short @ 1.43008 ?
Being new at this, I'm gonna throw my two cents in anyway... Big, Round Numbers aren't advisable entry points, specially if it needs to break said BRN.
Dave Toddler Pip Gatherer
  • #2,196
  • Apr 7, 2011 1:36am Apr 7, 2011 1:36am
AUDCHF setting up for a short 8 point spread for me so no good
  • #2,197
  • Apr 7, 2011 1:48am Apr 7, 2011 1:48am
PP sorry forgot to add the link if you're interested
http://www.forexfactory.com/showthre...ght=cubbybgood
  • #2,198
  • Apr 7, 2011 2:01am Apr 7, 2011 2:01am
Quoting argentino
Being new at this, I'm gonna throw my two cents in anyway... Big, Round Numbers aren't advisable entry points, specially if it needs to break said BRN.
you are right argentino, and entry on or near market open is not soo good
  • #2,199
  • Apr 7, 2011 2:09am Apr 7, 2011 2:09am
I'm thinking this would have been a good set up, but seems to be going pear shaped.
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  • #2,200
  • Apr 7, 2011 2:11am Apr 7, 2011 2:11am
entry above MCTL
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