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  • #19,081
  • Mar 19, 2014 4:34pm Mar 19, 2014 4:34pm
USDCAD

Watching and WAITING

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad BOSS.PNG Size: 38 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #19,082
  • Mar 23, 2014 12:09pm Mar 23, 2014 12:09pm
Quoting strat
USDCAD Watching and WAITING {image}
Hi Strat, In this USDCAD as an example. SR is drawn on extremities of the BB. Does the current candle count? If so that makes the R level at the top of the the last 3 days. Would it be correct to trade the hammer on a break above?

Maybe I got this wrong no harm in asking
Attached Image


thanks
  • #19,083
  • Mar 23, 2014 3:03pm Mar 23, 2014 3:03pm
USDCAD

Quoting fx-maniac
{quote} Hi Strat, In this USDCAD as an example. SR is drawn on extremities of the BB. Does the current candle count? If so that makes the R level at the top of the the last 3 days. Would it be correct to trade the hammer on a break above? Maybe I got this wrong no harm in asking{image} thanks
Always feel free to ask - if you don't ask, how will you learn?

We NEVER use a candle which has not CLOSED. In this case, the March candle has not closed so we do not consider it. Until the Big Boss candle closes, we use the Boss for SR identification.

There is NO HAMMER on my data and NO HAMMER on yours either.

A HAMMER has to be at the BOTTOM of a DOWN trend at SUPPORT - what you describe as a HAMMER is not in that position.

Also, the upper wick is too long even if it was in the correct position. Where it is on MY chart, AT RESISTANCE, it is more like a HANGING MAN but we don't trade this type of candle - we WAIT for CONFIRMATION before trading.

Your candle looks more like a doji than anything else.

Go back to September 19, 2013 on USDCAD to find a good example of a HAMMER - then compare it with what you describe as a HAMMER
15 YEARS OF PASR ON FOREX FACTORY!
  • #19,084
  • Mar 23, 2014 3:10pm Mar 23, 2014 3:10pm
Quoting strat
USDCAD {quote} Always feel free to ask - if you don't ask, how will you learn? We NEVER use a candle which has not CLOSED. In this case, the March candle has not closed so we do not consider it. Until the Big Boss candle closes, we use the Boss for SR identification. There is NO HAMMER on my data and NO HAMMER on yours either. A HAMMER has to be at the BOTTOM of a DOWN trend at SUPPORT - what you describe as a HAMMER is not in that position. Also, the upper wick is too long even if it was in the correct position. Where it is on MY chart, AT RESISTANCE,...
Thanks strat I get you now. If we get a PA candle at weekly support we are in a better position. I've been reading a huge amount the last couple of days just trying to get my bearings.

Will start a journal over at yours if I can.

thanks
  • #19,085
  • Mar 23, 2014 3:47pm Mar 23, 2014 3:47pm
Quoting strat
USDCAD {quote} A HAMMER has to be at the BOTTOM of a DOWN trend at SUPPORT
Hi Strat I disagree a bit with that statement. A hammer is a description of a candle that really looks like real hammer. it does not have to be at support to be describes as a hammer. Now when you are talking about a significant hammer, one that is worth considering in trading then it would be a hammer at support.
If you think you can or cannot do it you are correct
  • #19,086
  • Edited 8:47am Mar 24, 2014 7:30am | Edited 8:47am
Quoting Olu
{quote} Hi Strat I disagree a bit with that statement. A hammer is a description of a candle that really looks like real hammer. it does not have to be at support to be describes as a hammer. Now when you are talking about a significant hammer, one that is worth considering in trading then it would be a hammer at support.
Olu, I am ONLY discussing the HAMMERS we trade and use in my PASR method and not the generic candlestick stuff.
15 YEARS OF PASR ON FOREX FACTORY!
  • #19,087
  • Mar 24, 2014 11:59am Mar 24, 2014 11:59am
PASR Trading

Here is an extract from another recent post:

From this:

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To this:

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15 YEARS OF PASR ON FOREX FACTORY!
  • #19,088
  • Mar 25, 2014 7:58am Mar 25, 2014 7:58am
PASR TREND TRADING

Another add on opportunity coming up!

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Click to Enlarge Name: cadchf worker.PNG Size: 41 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #19,089
  • Mar 26, 2014 7:53am Mar 26, 2014 7:53am
AUDCAD

Extract from a post on how we use Worker resistance switching to support in our PASR trading

Attached Image (click to enlarge)
Click to Enlarge Name: audcad resistance giving way to support.PNG Size: 52 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #19,090
  • Mar 26, 2014 7:59am Mar 26, 2014 7:59am
NZDCAD

Extract from a post on how we use Boss resistance switching to support in our PASR trading

Attached Image (click to enlarge)
Click to Enlarge Name: Boss resistance gives way to SUPPORT.PNG Size: 41 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #19,091
  • Mar 26, 2014 8:00am Mar 26, 2014 8:00am
Quoting strat
{quote} Olu, I am ONLY discussing the HAMMERS we trade and use in my PASR method and not the generic candlestick stuff.

Point taken Strat. Thanks for the thread

Olu
If you think you can or cannot do it you are correct
  • #19,092
  • Mar 28, 2014 7:46am Mar 28, 2014 7:46am
PASR

Yet ANOTHER example on the POWER of the Strat Shadow.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #19,093
  • Mar 28, 2014 11:44am Mar 28, 2014 11:44am
Usdcad

Early warning sign.
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  • #19,094
  • Mar 28, 2014 12:30pm Mar 28, 2014 12:30pm
USDCAD

Quoting patrick25
Usdcad Early warning sign. {image}
Spot on, Patrick. We are WAITING for resolution of the SR bit so that we can look for the PA bit.

Good to see you posting and trust you are in positive pips - I did wonder if you had gone beer drinking with bullzeye since he seems to have left the room with Elvis.
15 YEARS OF PASR ON FOREX FACTORY!
  • #19,095
  • Mar 28, 2014 3:55pm Mar 28, 2014 3:55pm
Quoting strat
PASR Yet ANOTHER example on the POWER of the Strat Shadow. {image}
Was just about to post this. About as clear a trend entry as you could get from what I know
  • #19,096
  • Mar 28, 2014 4:15pm Mar 28, 2014 4:15pm
Quoting strat
USDCAD {quote} Spot on, Patrick. We are WAITING for resolution of the SR bit so that we can look for the PA bit. Good to see you posting and trust you are in positive pips - I did wonder if you had gone beer drinking with bullzeye since he seems to have left the room with Elvis.
Still around, just not posting much.
  • #19,097
  • Mar 28, 2014 7:15pm Mar 28, 2014 7:15pm
GBPUSD

Extract from a post on how we use SR in our PASR trading method

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd support & resistance.PNG Size: 47 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #19,098
  • Mar 31, 2014 1:33pm Mar 31, 2014 1:33pm
CHFJPY PASR notification to members on Friday March 28, 2014

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Here is the PRICE ACTION from the next day

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15 YEARS OF PASR ON FOREX FACTORY!
  • #19,099
  • Apr 1, 2014 4:24am Apr 1, 2014 4:24am
Anyone else having trouble accessing the stratsforextrading site? Some technical problems maybe?
(I did receive the monthly newsletter - thanks Strat)
If you can wait and not be tired by waiting...
  • #19,100
  • Apr 1, 2014 4:49am Apr 1, 2014 4:49am
Hi Rick,

yes, I have had problems on and off for the past few days.
Tonight the site has dropped out, came back, dropped out and then came back and asked me to log on again.
I thought it was my computer, haha
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