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5-min PASS (Price Action Scalper System)

  • #2,381
  • Apr 8, 2011 3:50pm Apr 8, 2011 3:50pm
Quoting forex1962
Just came back to have a look at what happened, well if I'd put my stop another 70 pips or so back I might be enjoying that beer now......Always monday.
LOL @ 70 pips stop on a scalping system .. always Monday
  • #2,382
  • Apr 8, 2011 3:59pm Apr 8, 2011 3:59pm
Tip for next week

I would suggest selling the 4500 level for now as that is likely to be a stubborn level to break above (without news). We do not have any significant news out of either EU or USA until Tuesday.
  • #2,383
  • Apr 8, 2011 4:05pm Apr 8, 2011 4:05pm
That is previous daily high from March 22, and the price for now looks like it is getting rejected and wont close above it. This may end up in a doubletop daily, which is good selling opportunity.
  • #2,384
  • Apr 8, 2011 4:11pm Apr 8, 2011 4:11pm
so, if you read the above two posts, we just closed about 20 pips away from significant levels on BOTH gbpusd (1.6400) and eurusd (1.4500)currency pairs which tend to move in synch at times. This fact re-confirms that if one of those levels hold then at the same time the other is likely to hold causing USD to go up and the two pairs to go down together "possibly". Keep those two numbers in mind (remember it is a level not an exact number that we are looking for here, if you want to stay in this one for the long run)

Just my 2 cents on the upcoming S/R levels that I "think" will play out nicely next week, given no fundamental news are out until Tuesday.
  • #2,385
  • Apr 8, 2011 4:14pm Apr 8, 2011 4:14pm
Quoting PurePrice
so, if you read the above two posts, we just closed about 20 pips away from significant levels on BOTH gbpusd (1.6400) and eurusd (1.4500)currency pairs which tend to move in synch at times. This fact re-confirms that if one of those levels hold then at the same time the other is likely to hold causing USD to go up and the two pairs to go down together "possibly". Keep those two numbers in mind (remember it is a level not an exact number that we are looking for here, if you want to stay in this one for the long run)

Just my 2 cents on the upcoming...
Thanks for your analysis. Hope the next week will be better..
  • #2,386
  • Apr 8, 2011 4:17pm Apr 8, 2011 4:17pm
Quoting Anu_
Thanks for your analysis. Hope the next week will be better..

You are weclome .. many green pips to you and others here. Lets all shoot for 100+ pips (10%) next week.

I think if we have a goal in mind, it is easer to trade and stay focused... Again I will be primarily focusing on gbpusd for my trading.

have a good weekend
  • #2,387
  • Apr 8, 2011 4:22pm Apr 8, 2011 4:22pm
Quoting PurePrice
You are weclome .. many green pips to you and others here. Lets all shoot for 100+ pips (10%) next week.

I think if we have a goal in mind, it is easer to trade and stay focused... Again I will be primarily focusing on gbpusd for my trading.

have a good weekend
I still owe you that MT4 simulator results. Promise to do it this weekend and report back to you Monday. Need good 3-4 hrs to go through a few days charts and collate the results, hence the delay. Some time ago, did you not ask someone to summarize the rules and tips into a single doc??
  • #2,388
  • Apr 8, 2011 4:25pm Apr 8, 2011 4:25pm
Quoting Anu_
I still owe you that MT4 simulator results. Promise to do it this weekend and report back to you Monday. Need good 3-4 hrs to go through a few days charts and collate the results, hence the delay. Some time ago, did you not ask someone to summarize the rules and tips into a single doc??

Yes I did, but no results. I should be the one doing it really, but need time too to consolidate all into a document. May be I will have sometime this weekend to do it. I think you need the document before you do your test

But if you can run your test without, that would be greatly appreciated. Again, I am very interested in the gbpusd during London session.
  • #2,389
  • Apr 8, 2011 4:28pm Apr 8, 2011 4:28pm
how to easily jump to a certain post# in the thread without having to go through all the pages one by one?
  • #2,390
  • Apr 8, 2011 4:36pm Apr 8, 2011 4:36pm
No worries...
See attached format I just created to collect the results.

DateTimePairEntryExit SL P/L ( pips)1 2 3 4








See whether you want to add anythign else that you think is important.

Basically, I will start may be from 2 weeks ago and record all possible trades and their results that meet oue entry criteria.
I will do just only Euro and cable.
  • #2,391
  • Apr 8, 2011 4:38pm Apr 8, 2011 4:38pm
See attached sheet ...
Attached File(s)
File Type: xls MT Simulator Test- PASS2.xls   22 KB | 413 downloads
  • #2,392
  • Apr 8, 2011 4:41pm Apr 8, 2011 4:41pm
Quoting Anu_
No worries...
See attached format I just created to collect the results.

DateTimePairEntryExit SL P/L ( pips)1234...


That looks good.

Will you be only doing test during the recommended time?

Will you just use simple rules with basic (late) entry, or will you be able to do both? How about re-entry?

I basically hate the eurusd but love gbpusd lol ... but hey give it a go ans let's see if there is a real reason why I hate eur or if it is just in my head.
  • #2,393
  • Apr 8, 2011 4:43pm Apr 8, 2011 4:43pm
Quoting PurePrice
how to easily jump to a certain post# in the thread without having to go through all the pages one by one?
Don't think you can jump to a post!
Suppose you know how to jump to a particular page number right?
  • #2,394
  • Apr 8, 2011 4:44pm Apr 8, 2011 4:44pm
Quoting Anu_
See attached sheet ...

Thanks so much for doing this. Wil start with this and see if there is anything else needed later.

Will be exciting to see results.

I have to go home now .. have a great week, and good luck with simulator, and many many thanks again.
  • #2,395
  • Apr 8, 2011 4:49pm Apr 8, 2011 4:49pm
Quoting PurePrice
That looks good.

Will you be only doing test during the recommended time?

Will you just use simple rules with basic (late) entry, or will you be able to do both? How about re-entry?

I basically hate the eurusd but love gbpusd lol ... but hey give it a go ans let's see if there is a real reason why I hate eur or if it is just in my head.
1. I will do the whole trading day ( 07.00 - 22.00 GMT) to start with
2. Will be using both entry methods
3. Will do euro too as it is less volatile than the cable.

Based on the resutls we can TRY to determine:
a) whether this method is good for a particular time window
b) where to put the SL
c) when the R/R is better? Go for a fixed profit like 15-20 pips or use trailing stop etc...
  • #2,396
  • Apr 9, 2011 2:45am Apr 9, 2011 2:45am
As requested I've attached thursday/fridays eu and cable trades using a 5 brick renko pattern.
We could have had some monster rides up if we'd taken the first fractal break after the mas lined up, marked with the orange line.
Interested to hear other views as obviously with this mix on the system it throws the time scale out purely relying on price and mas.
Great weather in London today so I'm off out on my bike, have a great weekend everyone, looking forward to London open monday!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.gif Size: 35 KB
Click to Enlarge Name: 2.gif Size: 27 KB
  • #2,397
  • Apr 9, 2011 5:14pm Apr 9, 2011 5:14pm
I just wanted to introduce myself. I find your indicator quite interesting and will test it out as well if you don't mind. Have a great weekend and I hope to follow you fellas the first of the week.
  • #2,398
  • Apr 11, 2011 1:29am Apr 11, 2011 1:29am
good morning everyone, another day, another week to fish some pips... wish everyone well this week

so what we watching in london?
  • #2,399
  • Apr 11, 2011 1:34am Apr 11, 2011 1:34am
Quoting kimoh
good morning everyone, another day, another week to fish some pips... wish everyone well this week

so what we watching in london?
Good morning, I'm keeping my eye on EU breaking 445 short, nearly there, just need the 15m and 1h to line up now.
  • #2,400
  • Apr 11, 2011 1:36am Apr 11, 2011 1:36am
There are news in 9 min for euro
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