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PVSRA Scalping with Cigarguy

  • #2,561
  • Apr 13, 2016 9:39am Apr 13, 2016 9:39am
Quoting Roose
Well here are my trades for today. I would trade longer than an hour, but I've got homework to do. All explanations are on charts. Ove decided to just focus on the EURUSD for now. Instead of hopping from chart to chart its easier for me to focus on one. EURUSD -0.1 EURUSD +3.3 EUR/USD +1.7 {image} {image} {image}
Roose,

I've been busy with thread housekeeping.....lol.......Your first chart; appears that the MM's are doing some pumping and dumping as they are running PA up with bullish candles and volume and then quick dumping. Did you check the higher t/f M5 and M15 for any additional clues as trading when they are manipulating price like that is akin to catching a falling knife?......
Keep It Simple
  • #2,562
  • Apr 13, 2016 10:04am Apr 13, 2016 10:04am
Re-entry after retrace FIFO Short EU +5
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-04-13_210234h.jpg Size: 146 KB
In other news: A ranger was trapped between a bull and a bear
  • #2,563
  • Apr 13, 2016 10:04am Apr 13, 2016 10:04am
EURCAD 1M 5PIPS!

- Reasons for entering BEARISH

- overall trend on M1, M5 and M15 was bearish
- currency strength was CAD 7.7 and EUR 2.9, so CAD was strong, EUR weak, thus bearish
- Dragon had just started to move down
- PA had just broken dragon going down
- Volume divergence showing bearish
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad-m1-forex-capital-markets-2.png Size: 38 KB
  • #2,564
  • Apr 13, 2016 10:17am Apr 13, 2016 10:17am
Quoting robmagario
EURCAD 1M 5PIPS! - Reasons for entering BEARISH - overall trend on M1, M5 and M15 was bearish - currency strength was CAD 7.7 and EUR 2.9, so CAD was strong, EUR weak, thus bearish - Dragon had just started to move down - PA had just broken dragon going down - Volume divergence showing bearish {image}

robmagario,

Nice trade and explanation....I love those trades with high momentum carrying PA quickly to T/P........
Keep It Simple
  • #2,565
  • Apr 13, 2016 10:25am Apr 13, 2016 10:25am
Quoting cigarguy
{quote} robmagario, Yes it was risky and all conditions are always considered but at times many hours of screen time aka experience kicks in while observing PA and you get that "difficult to explain gut feeling" and make the trade. Sometimes good and sometimes bad as against all rules but no indicators can predict how the MM's are going to run price but they sometimes offer hidden clues only to be recognized from experience. This is why I suggest to traders, especially those new to FX, to pick only a couple of currencies and watch and stalk their...
Thanks. Yes, I will follow your advice and try to concentrate only on a few pairs first.
In the beginning, I tried to follow like 20 pairs, but then I noticed that I was just being crazy, so now I don't follow more than 5 pairs.
Thanks a lot.
  • #2,566
  • Apr 13, 2016 10:30am Apr 13, 2016 10:30am
Quoting robmagario
{quote} Thanks. Yes, I will follow your advice and try to concentrate only on a few pairs first. In the beginning, I tried to follow like 20 pairs, but then I noticed that I was just being crazy, so now I don't follow more than 5 pairs. Thanks a lot.
robmagario,

NP as we have all been there and done that afraid we will miss out on a trade. I think if you limit your focus and get a feel for just a couple of pairs you will understand my earlier post and begin to pick up clues as to the MM's intentions....

Stay GREEN My Friend
Keep It Simple
  • #2,567
  • Apr 13, 2016 11:17am Apr 13, 2016 11:17am
EU M1 scalp +34 (avg. +3.8 @ 9 lots) See chart as closed quickly due to this time of day many possible retraces at LC and closing positions...........
Attached Image (click to enlarge)
Click to Enlarge Name: Snapshot2016-04-13_09-16-39_EURUSDi_a_M1.png Size: 63 KB
Keep It Simple
  • #2,568
  • Apr 13, 2016 12:43pm Apr 13, 2016 12:43pm
Quoting cigarguy
{quote} Roose, I've been busy with thread housekeeping.....lol.......Your first chart; appears that the MM's are doing some pumping and dumping as they are running PA up with bullish candles and volume and then quick dumping. Did you check the higher t/f M5 and M15 for any additional clues as trading when they are manipulating price like that is akin to catching a falling knife?......
On the higher tf i did notice that price was having a pullback, but decided to go for it anyways. I'm still working on reading pump and dumps.
  • #2,569
  • Apr 13, 2016 12:47pm Apr 13, 2016 12:47pm
Quoting Roose
{quote} On the higher tf i did notice that price was having a pullback, but decided to go for it anyways. I'm still working on reading pump and dumps.
Roose,

You're doing good it takes time. If trading was easy everyone would quite their day jobs and trade and there would be no bank tellers to take our deposits.......
Keep It Simple
  • #2,570
  • Edited 7:26pm Apr 13, 2016 7:15pm | Edited 7:26pm
UJ M5 FIFO scalp +3 See chart as any + pips during Asian (retrace) Session is OK & little risky as PA at yesterdays high .....
Attached Image (click to enlarge)
Click to Enlarge Name: Snapshot2016-04-13_17-13-24_USDJPYi_b_M5.png Size: 60 KB
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  • #2,571
  • Apr 13, 2016 7:46pm Apr 13, 2016 7:46pm
Asian session trade. AUDUSD short for 13.2 pips. Explanation on chart.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM1 T1 14.4.16.png Size: 82 KB
  • #2,572
  • Apr 13, 2016 7:49pm Apr 13, 2016 7:49pm
Quoting ozziedave
Asian session trade. AUDUSD short for 11.2 pips. Explanation on chart. {image}

ozziedave,

Very nice trade and explanation as usual accurate and clean. You have the PVSRA scalping system down to a science as many can learn from your posts..
Keep It Simple
  • #2,573
  • Apr 13, 2016 7:52pm Apr 13, 2016 7:52pm
Nice trade ozziedave! I dont usually trade Asian session for various reasons, but I also caught this one on CT Long EA for +6. Never thought I would say "counter trend and Asian session" in the same sentence lol. Maybe Aussie employment a bit later helped.

Attached Image (click to enlarge)
Click to Enlarge Name: 2016-04-14_064634a.jpg Size: 141 KB
In other news: A ranger was trapped between a bull and a bear
  • #2,574
  • Apr 13, 2016 7:54pm Apr 13, 2016 7:54pm
Quoting digiff
Nice trade ozziedave! I dont usually trade Asian session for various reasons, but I also caught this one on CT Long EA for +6. Never thought I would say "counter trend and Asian session" in the same sentence lol. Maybe Aussie employment a bit later helped. {image}

Never say Never....
Keep It Simple
  • #2,575
  • Apr 13, 2016 7:59pm Apr 13, 2016 7:59pm
I normally don't watch AU, but has seen so many nice trades I think I will start to stalk....Thanks Guys for the heads up with your nice trades.....
Keep It Simple
  • #2,576
  • Apr 13, 2016 8:02pm Apr 13, 2016 8:02pm
Quoting cigarguy
{quote} Never say Never....
Glad to join you this session.
In other news: A ranger was trapped between a bull and a bear
  • #2,577
  • Apr 13, 2016 8:05pm Apr 13, 2016 8:05pm
Quoting cigarguy
I normally don't watch AU, but has seen so many nice trades I think I will start to stalk....Thanks Guys for the heads up with your nice trades.....
My turn to say "Never say never!"
In other news: A ranger was trapped between a bull and a bear
  • #2,578
  • Edited 8:17pm Apr 13, 2016 8:05pm | Edited 8:17pm
Quoting digiff
{quote} Glad to join you this session.
Not my favorite Session for sure, but around news time some good momentum PVSRA scalps can be had.... Yes you are correct I get caught sometimes with the same comment but these Asian Session MM's can be sneaky with so many retraces....

AU M1 chart;
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_373 Apr. 13 18.20.jpg Size: 56 KB
Keep It Simple
  • #2,579
  • Apr 13, 2016 8:21pm Apr 13, 2016 8:21pm
Quoting digiff
Nice trade ozziedave! I dont usually trade Asian session for various reasons, but I also caught this one on CT Long EA for +6. Never thought I would say "counter trend and Asian session" in the same sentence lol. Maybe Aussie employment a bit later helped. {image}

Good on ya digiff nice trading.

Don't rule the Asian session out. You can fine some nice counter trend trades if you are patient. If you have doubts just reduce your lot size until you get the hang of it.
  • #2,580
  • Apr 13, 2016 8:22pm Apr 13, 2016 8:22pm
Quoting ozziedave
{quote} Good on ya digiff nice trading. Don't rule the Asian session out. You can fine some nice counter trend trades if you are patient. If you have doubts just reduce your lot size until you get the hang of it.
ozziedave,

Yes indeed as the key word is PATIENCE...... My patience prayer is "Lord Give Me Patience But Hurry".
Attached Image (click to enlarge)
Click to Enlarge Name: Snapshot2016-04-13_18-23-31_AUDUSDi_a_M1.png Size: 56 KB
Keep It Simple
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