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PVSRA Scalping with Cigarguy

  • #3,261
  • Aug 5, 2016 7:58am Aug 5, 2016 7:58am
UJ M1 FIFO Scalp +30 (avg. +6 @ 5 lots) Explanation on chart....Appears to be much more momentum in this bullish run but I'm OK and not greedy with my quick pips as always......The MM's love to use the news as a catalyst to make their pre-planned intended move as seen time & time again.....
Attached Image (click to enlarge)
Click to Enlarge Name: Snapshot2016-08-05_06-02-45_USDJPYi_a_M1.png Size: 47 KB
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  • #3,262
  • Aug 5, 2016 8:07am Aug 5, 2016 8:07am
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  • #3,263
  • Aug 5, 2016 8:35am Aug 5, 2016 8:35am
UJ M5 +29 (avg. +5.7 @ 5 lots) Got a approx. 4 pip DD on this one but stayed in as explained on the chart.....
Attached Image (click to enlarge)
Click to Enlarge Name: Snapshot2016-08-05_06-37-29_USDJPYi_b_M5.png Size: 52 KB
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  • #3,264
  • Edited 8:55am Aug 5, 2016 8:43am | Edited 8:55am
IMO, expected Smart Money Friday move from these levels with news as catalyst......Of course we cannot know but watch for PVSRA clues & entries as we have been fooled before........
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  • #3,265
  • Aug 6, 2016 1:15pm Aug 6, 2016 1:15pm
Hello to all dear thread followers, I am at the very beginning of learning scalping techniques and in the first step I am configuring my template and indicators. I see Cigarguy have news panel with extra rows to fit more news in sub-window, the standard attached indicator only shows 4-news. Could anyone advise how can I modify or find this indicator? Thanks, Farhad.
  • #3,266
  • Aug 8, 2016 7:08am Aug 8, 2016 7:08am
USDJPY 1M +5.3PIPS

Reasons for going LONG
- Dragon was moving up
- Other time frames (5M and 15M were bullish as well)
- 50EMA was moving up and PA was being traded above it
- Currency Strength showing very weak JPY
- I entered a bit early because I thought price would rebounce from there. I was wrong and price started to go against me but after a while it went up again and I reached my target and I exited.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-m1-forex-capital-markets.png Size: 48 KB
  • #3,267
  • Aug 8, 2016 8:26am Aug 8, 2016 8:26am
Quoting robmagario
USDJPY 1M +5.3PIPS Reasons for going LONG - Dragon was moving up - Other time frames (5M and 15M were bullish as well) - 50EMA was moving up and PA was being traded above it - Currency Strength showing very weak JPY - I entered a bit early because I thought price would rebounce from there. I was wrong and price started to go against me but after a while it went up again and I reached my target and I exited. {image}
As Usual....
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  • #3,268
  • Aug 8, 2016 8:47am Aug 8, 2016 8:47am
UJ FIFO Scalp +29 (avg. +5.8) Just got here and missed several obvious earlier PVSRA entries....Oh well many more too come.....

I will stalk to see if a nice retrace setting up for another little scalp...
Attached Image (click to enlarge)
Click to Enlarge Name: Snapshot2016-08-08_06-51-22_USDJPYi_a_M1.png Size: 47 KB
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  • #3,269
  • Aug 8, 2016 8:59am Aug 8, 2016 8:59am
For those scalping these PVSRA retraces, remember to check the high t/f's ie., M5 & M15 as may go much deeper into the 50 or 200 ema area or a key level then seen on M1.......then once you see a confirmed PVSRA retrace you can drill back down to M1 for a good entry.....I know this is kind of basic stuff but we all need reminders at times......
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  • #3,270
  • Aug 8, 2016 9:06am Aug 8, 2016 9:06am
The next key level that you may watch for UJ is the 102.500 key level to see if PA finds support there for a possible PVSRA entry....
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  • #3,271
  • Aug 8, 2016 9:06am Aug 8, 2016 9:06am
Quoting cigarguy
For those scalping these PVSRA retraces, remember to check the high t/f's ie., M5 & M15 as may go much deeper into the 50 or 200 ema area or a key level then seen on M1.......then once you see a confirmed PVSRA retrace you can drill back down to M1 for a good entry.....I know this is kind of basic stuff but we all need reminders at times......
Yes, thanks. Super good reminder. It is always important to check M5 and M15!
If we only look at M1 we may be cheated. I always look at bigger time frames to understand where PA is really going.
  • #3,272
  • Aug 8, 2016 9:07am Aug 8, 2016 9:07am
Quoting robmagario
{quote} Yes, thanks. Super good reminder. It is always important to check M5 and M15! If we only look at M1 we may be cheated. I always look at bigger time frames to understand where PA is really going.
Excellent....It's easy to become complacent at times and forget the basics like trading 101.....
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  • #3,273
  • Aug 8, 2016 9:26am Aug 8, 2016 9:26am
Thank you for showing your great trades CG and Rob. Could you please mark on the chart those missed several obvious earlier PVSRA entries​ had you been here earlier.....thanks again....great learning........

PH
  • #3,274
  • Aug 8, 2016 9:26am Aug 8, 2016 9:26am
Still stalking as MM's grab stops with the pump N dump above the 102.500 level.....
Attached Image (click to enlarge)
Click to Enlarge Name: Snapshot2016-08-08_07-30-50_USDJPYi_c_M15.png Size: 51 KB
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  • #3,275
  • Aug 8, 2016 9:32am Aug 8, 2016 9:32am
Gotcha....
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  • #3,276
  • Aug 8, 2016 9:50am Aug 8, 2016 9:50am
UJ M1 +22 (avg. +4.4) Closed quickly with small gain as didn't want to get caught in another of their retraces. Explanation on chart.....
Attached Image (click to enlarge)
Click to Enlarge Name: Snapshot2016-08-08_07-52-37_USDJPYi_a_M1.png Size: 56 KB
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  • #3,277
  • Aug 8, 2016 4:55pm Aug 8, 2016 4:55pm
Great trading everyone! Haven't had much time to trade as of late... been dealing with work and family stuff. Hoping to get back into the swing of things sometime this week.

I did find time to fix the CM_Strength indicator though. Not sure if anyone else has had trouble with it deleting objects off of your charts when switching timeframes? It's been driving me insane! I deleted a little snippet of code ObjectsDeleteAll() and now it works as it should without deleting objects.

Attached File(s)
File Type: mq4 CM_Strength_Fix.mq4   17 KB | 495 downloads
  • #3,278
  • Edited 7:24pm Aug 8, 2016 6:57pm | Edited 7:24pm
Quoting lKeithStone
Great trading everyone! Haven't had much time to trade as of late... been dealing with work and family stuff. Hoping to get back into the swing of things sometime this week. I did find time to fix the CM_Strength indicator though. Not sure if anyone else has had trouble with it deleting objects off of your charts when switching timeframes? It's been driving me insane! I deleted a little snippet of code ObjectsDeleteAll() and now it works as it should without deleting objects. {file}
lKeithStone,

I have not experienced that issue, but thanks for your fix for those that have......
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  • #3,279
  • Aug 8, 2016 11:12pm Aug 8, 2016 11:12pm
Quoting cigarguy
UJ M1 FIFO Scalp +30 (avg. +6 @ 5 lots) Explanation on chart....Appears to be much more momentum in this bullish run but I'm OK and not greedy with my quick pips as always......The MM's love to use the news as a catalyst to make their pre-planned intended move as seen time & time again..... {image}
Very nice trade after a retracement!
  • #3,280
  • Aug 8, 2016 11:17pm Aug 8, 2016 11:17pm
Quoting cigarguy
UJ M1 +22 (avg. +4.4) Closed quickly with small gain as didn't want to get caught in another of their retraces. Explanation on chart..... {image}
I would say that after that huge drop, it moved up and then it did a retracement of 61.8% to then move up again.
Of course I am just guessing as I didn't actually measure it.
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