PVSRA Scalping with Cigarguy

Quoting wizlon32

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My first PVSRA FIFO trade. Explanation is on the chart. Perhaps a bit risky so soon after market open but it paid off. Shame the spread was still widened but I am happy my first trade here was a winner. I should have bought when it went below the half level too with nice volume but I just watched it happen. I need to get quicker . {image}

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Quoting cigarguy

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{quote} wizlon32, Nice chart, trade and explanation.

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Quoting wizlon32

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NZDUSD M5. Explanation on chart. {image}

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Quoting mortentrap

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Quick +5 pip FIFO trade i just took on AUDJPY: - Very high currency strenght of AUD and low strenght of JPY - 10 EMA's on 5 different timeframes were all pointing up - Price fell back to 50 EMA and volume increased indicating a turn In and out in 4 min {image}

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Quoting robmagario

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{quote} Wow, you targeted a bounce back to Dragon after PA did a new high. Risky but well done! I liked your trade.

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Quoting wizlon32

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{quote} Thanks. Maybe that is due to my inexperience with this style of trading. Can you explain why that is risky? From what I understand MMs will always try to push price up toget better prices to short from so new highs could work out to be very profitable. I have seen lots of examples of traders shorting above the dragon. Any tips or advice is welcome.

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Quoting robmagario

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{quote} In your trade it was risky because the overall trend was bullish, as you can see that PA was making new highs from time to time (as you drew the lines yourself). After you entered the trade, PA didn't make a new high and in the end it bounced back to Dragon as you predicted. Yes, you are right that lots of traders do what you did and if it works well for you, keep doing it.

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Quoting saiffx

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USD JPY long trade open and closed A text book entry Thanks Saiffx {image}

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Quoting wizlon32

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The top chart shows some trades I took during my lunch break. 1 short trade and 2 longs. All were winners . Trades were entered according to my analysis of the volume and PA over various TF at and around the TLs that I have drawn (sorry,Iknow this not the best description). Bottom chart shows the same trades on M1 TF. Right after I closed the longs - BOOM (especially the last one) . When I closed them I was back to work and trying to monitor on my phone so not ideal. Slightly disappointed that I didn't...

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I am really happy and encouraged that by studying PVSRA I am understanding the flow of thew market much better.

Quoting robmagario

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EURUSD M1 +5PIPS Reasons for going SHORT - First of all, I looked at the hourly chart (H1) and I saw that the trend was bearish and that PA just seemed to have done a retracement and had being going down for the last hour, so I assumed that PA would continue to go down - PA being traded below 200EMA - Dragon going down and I liked the inclination - Hourly candle had being bearish, other time frames were bearish too - Great red candlestick with high volume indicated that PA would go down as it broke previous consolidation area, so I waited for a...

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