PVSRA (Price, Volume, S&R Analysis)

Quoting Dyekid217

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AUDUSD Long update: I believe I started building this one too early.. not much volatility in London has brought us back down to the whole number which we're now finding some support above yesterdays stop hunt. Now is probably where the MM's want price ahead of NY session and major news. I still have conviction in this trade so holding tight. MM's may even want to test the RDL but we'll see what NY brings. I've done my analysis and am confident in my decision. Cheers all! Note: For upcoming weeks I may only want to focus on one pair and build that...

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Quoting leentjai

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Opened and closed USDJPY average +37 p total +185 p {image}

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Quoting cigarguy

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{quote}

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Quoting leentjai

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Opened and closed USDJPY average +37 p total +185 p {image}

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Quoting RoelsMajor

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{quote} Your Entry (OP) Long was below the Main Trends H1, did you consider that as a main factor of your trade? Should your Entry below or above The Trends H1?

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Quoting Dyekid217

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{quote} Hello RoelsMajor, My entry was mostly based on the H4 condition. As well as PVSRA clues that were hinted during the Asian session. In the future I may play each session as its own and close any open trades prior to the next opening. This way I am constantly taking pips in from the market instead of suffering the drawdown from each rollover/overlap etc. MM's did a stop hunt run on the RDL as many stops will be below that level.. providing liquidity for bull side orders. Lower timeframe chart shows good PVSRA clues as well but I'll post that...

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Quoting Dyekid217

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{quote} Looks like I was wrong on this one.. I was way premature in my thinking and will absolutely need to pay attention to the H1 timeframe trend. Will need to wait for classic formations above dragon trend.

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Quoting cigarguy

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{quote} You entered what was called a Scout on the old Sonic thread and many had huge DD's and looses. Much safer to trade pullbacks and retraces IMO ie., low t/f's retrace and then join higher t/f trend. Friday also known for retraces and closing positions prior to week end............

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Quoting Dyekid217

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{quote} Yes and that is what I'm used to which has given me great success thus far.. This was kind of sloppy on my part. Lesson learned =) In the long run it is a small price to pay for one day reaching true GURU status like yourself !

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Quoting Dyekid217

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{quote} Looks like I was wrong on this one.. I was way premature in my thinking and will absolutely need to pay attention to the H1 timeframe trend. Will need to wait for classic formations above dragon trend. Also the consolidation during AO is a clear sign I was so wrong on the trade. I'm going to need to analyze each session as a part of the bigger picture.. where is price and how is it reacting at those levels.

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Quoting cigarguy

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{quote} Dyekid217, Thanks for he compliment but I don't feel that I deserve that status as I too make many mistakes. Every day is a learning process as trading isn't a sprint it's a marathon. I try not to look at a mistake as a mistake, but I learned how not to do something! Dwell on the positive not the negative.......

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Quoting Dyekid217

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{quote} As humans we are all bound to become lackadaisical at some point. No one is perfect and what better way to learn is there than losing a bit of money to the thieving MM's?! I like to think of losses as a cost of running a business. It is the overhead we pay to trade the markets.

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Quoting cigarguy

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Done for the week got things to do.... Stay GREEN My Friends! {image}

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