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PVSRA Scalping with Cigarguy

  • #8,301
  • Edited 10:51pm Mar 20, 2017 9:59pm | Edited 10:51pm
Quoting robmagario
{quote} Looking at it, the green candle broke Dragon just a bit but failed to make a new high. Right after that there was that dark gray candle that kinda engulfed the previous one. Right after that there was that pink candle, so I would have entered there I guess.
Rob,

The pink candle you referred too in this case IMO was stopping volume but to analyze properly the M5 and M15 should have been observed. Although the M1 is our entry timeframe for FIFO scalps, M5 and M15 will often give a more complete picture with less noise and then dropping down to M1 for entry.

Of course M1 showing a up or down trend M5 or M15 could show a retrace with a Key level or MA near as S & R and a entry may not be wise.

M5 & M15 should always be observed time permitting, for the broader picture.

I usually have M5 and M15 for the pair I'm scalping up on 2 monitors allowing a quick observation and a 3rd monitor with my M1 entry chart or just switching timeframes same no big deal.

CG
Keep It Simple
  • #8,302
  • Mar 20, 2017 10:44pm Mar 20, 2017 10:44pm
Quoting robmagario
{quote} Very well done! That is the kind of style of trade that I love the most!
I agree...thats a nice one..
Keep It Simple
  • #8,303
  • Mar 21, 2017 5:23am Mar 21, 2017 5:23am
Quoting cigarguy
{quote} Rob, The pink candle you referred too in this case IMO was stopping volume but to analyze properly the M5 and M15 should have been observed. Although the M1 is our entry timeframe for FIFO scalps, M5 and M15 will often give a more complete picture with less noise and then dropping down to M1 for entry. Of course M1 showing a up or down trend M5 or M15 could show a retrace with a Key level or MA near as S & R and a entry may not be wise. M5 & M15 should always be observed time permitting, for the broader picture....
Cigarguy, yes, I agree with what you said about the pink candle stopping volume.
and yes, about the greater time frames you are totally right. I guess I would first see what M5, M15 were doing, and based on them I would probably have entered on the pink candle if I found strong resistance on M5 and M15, or I wouldn't have entered at all.
  • #8,304
  • Mar 21, 2017 5:42am Mar 21, 2017 5:42am
USDJPY small scalp +2
Attached Image (click to enlarge)
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  • #8,305
  • Mar 21, 2017 6:44am Mar 21, 2017 6:44am
USD JPY - LONG

Entered after price broke 112.50 support and failed to break lower. After a few stopping volume candles, price moved up and broke through 112.50. Went long after it broke 1/2 level but price was a bit slow and exited at 3 pips.


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  • #8,306
  • Mar 21, 2017 6:49am Mar 21, 2017 6:49am
Quoting bion92
USD JPY - LONG Entered after price broke 112.50 support and failed to break lower. After a few stopping volume candles, price moved up and broke through 112.50. Went long after it broke 1/2 level but price was a bit slow and exited at 3 pips. {image}
Got the exact same entry, closed it a couple pips higher on the Daily Open.
  • #8,307
  • Mar 21, 2017 7:26am Mar 21, 2017 7:26am
Quoting robmagario
{quote} Cigarguy, yes, I agree with what you said about the pink candle stopping volume. and yes, about the greater time frames you are totally right. I guess I would first see what M5, M15 were doing, and based on them I would probably have entered on the pink candle if I found strong resistance on M5 and M15, or I wouldn't have entered at all.
Rob,
Your PVSRA scalping is right on...i was only addressing your specific comment about that trade.

We seem to enter UJ pretty much the same by a candle or two...

CG
Keep It Simple
  • #8,308
  • Mar 21, 2017 7:30am Mar 21, 2017 7:30am
GbpUsd M1 CT move, price broke 1.24600 level with notable volume.4 pips scalp.
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  • #8,309
  • Mar 21, 2017 7:45am Mar 21, 2017 7:45am
Quoting freeman777
GbpUsd M1 CT move, price broke 1.24600 level with notable volume.3 pips scalp. {image}
Freeman777,
GU can offer some nice FIFO scalps but the spreads are so big for scalping unless you catch a high momentum run.

That stopping volume candle signaled a possible stop to that short lived bearish scalp...of course it's easy to see after the fact in hind sight..


You seem to do OK because of your lot size....

CG
Keep It Simple
  • #8,310
  • Mar 21, 2017 7:52am Mar 21, 2017 7:52am
Quoting cigarguy
{quote} Freeman777, GU can offer some nice FIFO scalps but the spreads are so big for scalping unless you catch a high momentum run. That stopping volume candle signaled a possible stop to that short lived bearish scalp...of course it's easy to see after the fact in hind sight.. You seem to do OK because of your lot size.... CG

I moved on a broker with higher spreads at my will, cause in my region I can't find a broker with so lower spreads like scalping demand.So I try to make my hand on this and I want to see If it is possible to succeed.Thank for observation.
  • #8,311
  • Mar 21, 2017 8:00am Mar 21, 2017 8:00am
Quoting freeman777
{quote} I moved on a broker with higher spreads at my will, cause in my region I can't find a broker with so lower spreads like scalping demand.So I try to make my hand on this and I want to see If it is possible to succeed.Thank for observation.
Got it....your doing great keep on pippin...
CG
Keep It Simple
  • #8,312
  • Mar 21, 2017 8:30am Mar 21, 2017 8:30am
gbpusd long

was out all day and just came back for a quick pvsra fifo...Price above both dragon and 200ema and EP on bull candle with volume, target of 5pips quickly banked...
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  • #8,313
  • Mar 21, 2017 8:32am Mar 21, 2017 8:32am
Where did I go wrong here guys?

  1. Under dragon
  2. Under 100 EMA
  3. Retrace back to range day low, round number which it had broken through already

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  • #8,314
  • Mar 21, 2017 8:38am Mar 21, 2017 8:38am
Quoting Ivanyo
Where did I go wrong here guys? Under dragon Under 100 EMA Retrace back to range day low, round number which it had broken through already {image}
Don't know what M1 was showing but M5 right at RDL short term support retrace area.

I'm on my phone and more difficult to read then puter..

CG
Keep It Simple
  • #8,315
  • Mar 21, 2017 8:39am Mar 21, 2017 8:39am
Quoting Ivanyo
Where did I go wrong here guys? Under dragon Under 100 EMA Retrace back to range day low, round number which it had broken through already {image}
Price has gone down 100 pips already since Europe Open, I wouldn't short there. Also on M1 you have a pretty ugly pin bar with big volume.
  • #8,316
  • Mar 21, 2017 8:42am Mar 21, 2017 8:42am
Quoting the3mp
{quote} Price has gone down 100 pips already since Europe Open, I wouldn't short there. Also on M1 you have a pretty ugly pin bar with big volume.
Good prospective...and team work..
CG
Keep It Simple
  • #8,317
  • Mar 21, 2017 8:55am Mar 21, 2017 8:55am
EURUSD

A couple of small trades. First one, price had bounced back from RDH, broke .08 and targeted .81.
In the second one, huge green bar breaks .81, I entered after a small retrace. I was hoping for something more, but the price stalled there even if the volume was going up, so I closed it.

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  • #8,318
  • Mar 21, 2017 9:02am Mar 21, 2017 9:02am
Quoting the3mp
EURUSD A couple of small trades. First one, price had bounced back from RDH, broke .08 and targeted .81. In the second one, huge green bar breaks .81, I entered after a small retrace. I was hoping for something more, but the price stalled there even if the volume was going up, so I closed it. {image}
The3mp,
I would have entered same as you and your chart shows good example of MM's playing our key levels and our 50/200 ema's for S & R.

PVSRA works and a nice confirmation it provides the info we need for FIFO scalps

So many times I have scalped levels to level FIFO...

CG
Keep It Simple
  • #8,319
  • Mar 21, 2017 9:09am Mar 21, 2017 9:09am
GbpJpy M1 Price go under dragon and 140.200 level and broke 200 MA with bearish volume candle and bar.5 pips scalp.
Attached Image (click to enlarge)
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  • #8,320
  • Mar 21, 2017 9:13am Mar 21, 2017 9:13am
Quoting freeman777
GbpJpy M1 Price go under dragon and 140.200 level and broke 200 MA with bearish volume candle and bar.5 pips scalp. {image}
And yet again..levels and RDL.. We don't need lagging MA crosses and not understanding what the MM's intentions are.
CG
Keep It Simple
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