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PVSRA Scalping with Cigarguy

  • #3,481
  • Edited 6:02pm Aug 15, 2016 5:28pm | Edited 6:02pm
Quoting dunlop432
{quote} Hello Cigarguy Once again thanks for sharing your knowledge with this great thread. Two questions: 1. I looked back at your older charts from the other thread and you were using the blue and red HA candles. What happened to them or do you find the PVA candles more informative. I know indis should not be the main focus on trading this method but it seemed that the HA candles were really helpful 2. What is the ADR indicator you have near the bottom left on your chart that is right above window 1? Thnx again for reply, J. Turner
dunlop432,

You are correct I did use the HA candles for scalping back on the old thread. One of the older versions of our PVSRA candle sets did include the HA
candles as an option and I used them but would switch between them and our PVSRA candles. The HA candle option was dropped with our new candle set.

I was fairly new trading PVSRA then and found the HA's did remove much of the noise. Later as I became more experienced with PVSRA I found that I was missing trades by not using the sets of candles and volume which are coded to work together ie., color changes for example.

All traders are welcomed to use whatever candles they chose but as I experienced, their is a trade off between noise lost or seeing PVSRA confirmations with our candle set and volume.

That is a ADR (average daily range) indicator. I usually keep one up on a chart to watch the range for the pair I'm stalking and it's not a PVSRA indie but offers information nice to know. There are many versions floating all around FF but this is nice & small as not obtrusive on our charts.

Here you go have fun.....
Attached File(s)
File Type: ex4 ADR_v2.ex4   11 KB | 468 downloads
Keep It Simple
  • #3,482
  • Aug 15, 2016 5:40pm Aug 15, 2016 5:40pm
Quoting cigarguy
{quote} dunlop432, You are correct I did use the HA candles for scalping back on the old thread. One of the older versions of our PVSRA candle sets did include the HA candles as an option and I used them but would switch between them and our current PVSRA candles. The HA candle option was dropped with our new candle set. I was fairly new trading PVSRA then and found the HA's did remove much of the noise. Later as I became more experienced with PVSRA I found that I was missing trades by not using the sets of candles and volume which are coded to...

Thanx!!
  • #3,483
  • Edited 8:34pm Aug 15, 2016 8:17pm | Edited 8:34pm
USDJPY 1M +0.2PIPS

Reasons for going SHORT
- Dragon was moving down and I liked the inclination
- PA trading below 50EMA
- PA had broken 101 key level downwards
- Entered just after a red candlestick with high volume

Reason for exiting
- I was afraid PA would bounce back to 101 key level and it seems that the trade was going nowhere, so I exited

The 2nd screenshot shows what happened later! So, I did the right thing as PA bounced all the way breaking 101 key level upwards and went back to Dragon.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usdjpy-m1-forex-capital-markets-2.png Size: 42 KB
  • #3,484
  • Aug 15, 2016 8:41pm Aug 15, 2016 8:41pm
UJ +1.3
89 Tick Chart

Entered based on momentum candle and price was below moving averages. Was expecting to take profit around 101.000 level, but I didn't get the momentum follow through I was hoping for.

After trade review: I should have held as my assumption was correct. My itchy trigger finger got the best of me

Attached Image (click to enlarge)
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  • #3,485
  • Aug 15, 2016 9:43pm Aug 15, 2016 9:43pm
Attached Image (click to enlarge)
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  1. AUD/USD +2
  2. Break of the 0.76750 quarter-level, entered for a quick + 2. Decided to exit at the previous resistance on the left, better safe than sorry.


Attached Image (click to enlarge)
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  1. EUR/NZD +8
  2. Break of the whole-level (1.55000) with high-volume, simply riding the momentum for a quick +8 . I was initially tempted to put my target at the next PVSRA level which was the 1.55250 level but decided not to get greedy and aim for the little cluster at the left. Price did get to the half-level quickly but oh well


Attached Image (click to enlarge)
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  1. GBPAUD+10
  2. Price was against a 1hr resistance so went down to the 1 min and watched as price was hovering around the whole number (1.6800) and then took a short when it break down with volume for a quick +10.

  • #3,486
  • Aug 15, 2016 9:49pm Aug 15, 2016 9:49pm
Quoting robmagario
USDJPY 1M +0.2PIPS Reasons for going SHORT - Dragon was moving down and I liked the inclination - PA trading below 50EMA - PA had broken 101 key level downwards - Entered just after a red candlestick with high volume Reason for exiting - I was afraid PA would bounce back to 101 key level and it seems that the trade was going nowhere, so I exited The 2nd screenshot shows what happened later! So, I did the right thing as PA bounced all the way breaking 101 key level upwards and went back to Dragon. {image} {image}
Quoting lKeithStone
UJ +1.3 89 Tick Chart Entered based on momentum candle and price was below moving averages. Was expecting to take profit around 101.000 level, but I didn't get the momentum follow through I was hoping for. After trade review: I should have held as my assumption was correct. My itchy trigger finger got the best of me {image}

I like that, better safe than sorry! Momentum is key when scalping with all the retraces on the 1 min chart.
And as cigarguy often says, there's plenty of PVSRA opportunities in a day, just gotta be a bit patient.
  • #3,487
  • Aug 15, 2016 11:03pm Aug 15, 2016 11:03pm
Attached Image (click to enlarge)
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  1. EUR/USD +3
  2. Bounce of the 1.12000 level with a 4hr resistance on the left so short.
  3. Price died and decided to close with such little volatility.

  • #3,488
  • Aug 15, 2016 11:26pm Aug 15, 2016 11:26pm
Quoting robmagario
USDJPY 1M +0.2PIPS Reasons for going SHORT - Dragon was moving down and I liked the inclination - PA trading below 50EMA - PA had broken 101 key level downwards - Entered just after a red candlestick with high volume Reason for exiting - I was afraid PA would bounce back to 101 key level and it seems that the trade was going nowhere, so I exited The 2nd screenshot shows what happened later! So, I did the right thing as PA bounced all the way breaking 101 key level upwards and went back to Dragon. {image} {image}
robmagario,

It happens, as we cannot know what the sneaky MM's will do and it appears in your case the purple candle was the climax candle slowing down you run. (always easy to tell after the fact) I may have made the same entry and we all know in FX trading losses will occur. (like mine post#3476 ) ....but many more winners to come....
Keep It Simple
  • #3,489
  • Aug 15, 2016 11:37pm Aug 15, 2016 11:37pm
Quoting cigarguy
{quote} robmagario, It happens, as we cannot know what the sneaky MM's will do and it appears in your case the purple candle was the climax candle slowing down you run. (always easy to tell after the fact) I may have made the same entry and we all know in FX trading losses will occur. (like mine post#3476 ) ....but many more winners to come....
Yes, I was reading your post#3476 about that loss and I did some analysis. I went back to the time you entered on 5M,
and I changed it to M1, which is the usual timeframe I use to see if I would have taken the same trade or not. Looking at that M1 timeframe, I don't think I would have entered that trade because the inclination of Dragon was still a bit too horizontal. (of course, as you said, it is easier to analyze after the fact).

Thanks for your comment, and yes, thanks for the comment on that purple candle. The moment I saw that purple
candlestick, I felt something weird coming from my stomach, it must be the phycological effect.
  • #3,490
  • Aug 15, 2016 11:43pm Aug 15, 2016 11:43pm
Quoting lKeithStone
UJ +1.3 89 Tick Chart Entered based on momentum candle and price was below moving averages. Was expecting to take profit around 101.000 level, but I didn't get the momentum follow through I was hoping for. After trade review: I should have held as my assumption was correct. My itchy trigger finger got the best of me {image}
May I ask the reason you exited? Is it because of the inverted dark gray hammer?
I didn't take this trade, but I think I would have stayed because after you entered, all the candlesticks that followed
were dark gray, meaning they were all bearish and the direction was going into your direction.
  • #3,491
  • Aug 15, 2016 11:44pm Aug 15, 2016 11:44pm
Quoting lKeithStone
UJ +1.3 89 Tick Chart Entered based on momentum candle and price was below moving averages. Was expecting to take profit around 101.000 level, but I didn't get the momentum follow through I was hoping for. After trade review: I should have held as my assumption was correct. My itchy trigger finger got the best of me {image}
lKeithStone,

Interesting....1st FX 89 tick chart I've seen and appears as really going back to the basics of PA trading. Appreciate your post and looking forward to more as well as your analysis relative to your comfort zone trading a pretty bare tick chart progresses.

I have been watching a range bar chart along with my PVSRA chart and at this early stage still feel like I am missing some of the action seen with a timed candle. I can see that IMO either ticks or range charts will require a learning curve, at least for me, to achieve a level of competency.

We shall stay tuned to watch and listen to your experiences......
Keep It Simple
  • #3,492
  • Edited Aug 16, 2016 12:10am Aug 15, 2016 11:57pm | Edited Aug 16, 2016 12:10am
Quoting Stellan
{image} EUR/USD +3 Bounce of the 1.12000 level with a 4hr resistance on the left so short. Price died and decided to close with such little volatility.
Stellan,

Wow my friend, your control and patience to wait for these great momentum entries is exceptional... Patience is an area that I have personally, always had issues with and is a on-going battle for me. I think most scalpers due to the nature of our FIFO trading and sitting watching and waiting for the confirmed PVSRA scalp we often become impatient, I do for sure.

Your posts demonstrate how learning to be patient and often sitting on our hands so to speak, is an essential trait for us all to learn....
Keep It Simple
  • #3,493
  • Edited 12:15am Aug 16, 2016 12:01am | Edited 12:15am
Quoting robmagario
{quote} Yes, I was reading your post#3476 about that loss and I did some analysis. I went back to the time you entered on 5M, and I changed it to M1, which is the usual timeframe I use to see if I would have taken the same trade or not. Looking at that M1 timeframe, I don't think I would have entered that trade because the inclination of Dragon was still a bit too horizontal. (of course, as you said, it is easier to analyze after the fact). Thanks for your comment, and yes, thanks for the comment on that purple candle. The moment I saw that purple...
robmagario,

You are exactly correct as I failed to drop down to M1, as I normally would, and paid the price. Even old trader dogs have lessons to learn.....
Keep It Simple
  • #3,494
  • Aug 16, 2016 12:44am Aug 16, 2016 12:44am
Quoting lKeithStone
UJ +1.3 89 Tick Chart Entered based on momentum candle and price was below moving averages. Was expecting to take profit around 101.000 level, but I didn't get the momentum follow through I was hoping for. After trade review: I should have held as my assumption was correct. My itchy trigger finger got the best of me {image}

lKeithStone,

As an additional comment to your above post; As I watch some tick and range bar charts, although with limited time testing, I feel at this point that I am not provided with enough information to allow for a confident PVSRA entry as provided by our current charts.

I have been down this road before, as somewhat of a recovering indicator junkie..., I will roam away from what is working extremely well playing with other ideas only to return to what has and is serving me and others well. I think I need therapy to acquire some of Stellans patience traits.......

In summary, I have yet to find any indicators applied to charts that work in confluence as well as our current PVSRA charts that provide us with all that is needed to successfully trade/scalp with the Smart Money.
Keep It Simple
  • #3,495
  • Aug 16, 2016 1:46am Aug 16, 2016 1:46am
EU +5, bounce off dragon and previous high taken out by bull volume bar.
Attached Image (click to enlarge)
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  • #3,496
  • Aug 16, 2016 2:43am Aug 16, 2016 2:43am
EU +5 pips, bounce off dragon and push through previous high and half lvl with a bull volume bar.
Attached Image (click to enlarge)
Click to Enlarge Name: 15-8 2.png Size: 47 KB
  • #3,497
  • Aug 16, 2016 2:48am Aug 16, 2016 2:48am
Quoting josh11
EU +5 pips, bounce off dragon and push through previous high and half lvl with a bull volume bar.
Nice trades
  • #3,498
  • Aug 16, 2016 2:48am Aug 16, 2016 2:48am
Quoting Vape
{quote} Nice trades
Thanks mate
  • #3,499
  • Aug 16, 2016 4:37am Aug 16, 2016 4:37am
EU M1 +4 pips. Explaination on chart

Attached Image (click to enlarge)
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  • #3,500
  • Aug 16, 2016 4:50am Aug 16, 2016 4:50am
Quoting Vape
EU M1 +4 pips. Explaination on chart {image}
Nice trading mate
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