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PVSRA Scalping with Cigarguy

  • #9,001
  • May 16, 2017 6:07am May 16, 2017 6:07am
USDJPY +5 pips

Price bounced of the 200 EMA and through the dragon with a huge green candle. TP was set at previous high.
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  • #9,002
  • May 16, 2017 6:15am May 16, 2017 6:15am
My first scalping attempt ever.

Attached Image (click to enlarge)
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Green bar above dragon and half number. I tried to enter at last bar high but I was too slow.
0.8 pips.

Closed the trade although it looks like price will go higher, but I was already at the previous high.

Edit : Wow was I out early, price went 4 more pips in my direction.
  • #9,003
  • May 16, 2017 6:17am May 16, 2017 6:17am
Quoting 4x4free
GBPUSD M1 +5,9 PIPS SHORT explanation on chart {image}
Hi 4x4free, where can I find the buy and sell script with stop loss and take profit?
With God all things are possible.
  • #9,004
  • Edited 6:52am May 16, 2017 6:39am | Edited 6:52am
2nd scalping attempt on UJ, a bit better.

Went long after the first green bar and pullback to the dragon,above half number.
Closed at the previous high, 3.9 pips
Attached Image (click to enlarge)
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Edits: parity, gain.

Edit 2 :
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I don't know what to make of the small red bar with extremely high volume. I feel like I should look for short if price goes above round number and then below again. However that would mean I'm ignoring the dragon. I guess I'm gonna stay out until I can make sense of it all.

Any thoughts on the matter?
  • #9,005
  • May 16, 2017 7:37am May 16, 2017 7:37am
A second bad trade on UJ.

Attached Image (click to enlarge)
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I initially got in because the big red bar + dragon + LL.
However I started doubting the trade when I saw HL HH, I should have gone out close to BE.

I got lucky with the news, I need to fix this behavior.

I'm done for the day.
  • #9,006
  • May 16, 2017 7:53am May 16, 2017 7:53am
Quoting Spanudiez
A second bad trade on UJ. {image} I initially got in because the big red bar + dragon + LL. However I started doubting the trade when I saw HL HH, I should have gone out close to BE. I got lucky with the news, I need to fix this behavior. I'm done for the day.
If you checked the M5 TF prior to placing your trade you would have seen PA was trading above the dragon and bounced of it, there was only around 3-4 to the 50MA. Also if you put the 200MA on your chart you would have seen that large bearish candle you entered on closed above it. Its always a good idea to check the higher timeframes, espcially M5 & M15 before you place any trades as you want to know what PA is doing in the 'bigger picture'. Although M5 and M15 are not exaclty high timeframes, its also a good idea to check H1 too.

UJ M5
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UJ M1
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Luckily you made some pips with the MM's using the news to push price lower
  • #9,007
  • May 16, 2017 8:00am May 16, 2017 8:00am
Quoting Vape
{quote} If you checked the M5 TF prior to placing your trade you would have seen PA was trading above the dragon and bounced of it, there was only around 3-4 to the 50MA. Also if you put the 200MA on your chart you would have seen that large bearish candle you entered on closed above it. Its always a good idea to check the higher timeframes, espcially M5 & M15 before you place any trades as you want to know what PA is doing in the 'bigger picture'. Although M5 and M15 are not exaclty high timeframes, its also a good idea to check H1 too. UJ M5 {image}...
Thank you so much for your analysis Vape.

Looking at your charts I can see how bad an lucky my entry was. I'm gonna add 200MA as an additional filter and I'm gonna make sure to always check the higher timeframes first.
  • #9,008
  • May 16, 2017 8:05am May 16, 2017 8:05am
Quoting Vape
{quote} If you checked the M5 TF prior to placing your trade you would have seen PA was trading above the dragon and bounced of it, there was only around 3-4 to the 50MA. Also if you put the 200MA on your chart you would have seen that large bearish candle you entered on closed above it. Its always a good idea to check the higher timeframes, espcially M5 & M15 before you place any trades as you want to know what PA is doing in the 'bigger picture'. Although M5 and M15 are not exaclty high timeframes, its also a good idea to check H1 too. UJ M5 {image}...
Excellent analysis....
Keep It Simple
  • #9,009
  • May 16, 2017 9:04am May 16, 2017 9:04am
My thanks to Rob and Vape as two of our core scalpers for their excellent analysis as "Traders Helping Traders"..
Keep It Simple
  • #9,010
  • May 16, 2017 9:26am May 16, 2017 9:26am
I see that we daily have many new PVSRA scalpers. Welcome to ALL and looking forward to your continued posts and analysis.

Although new to our PVSRA scalping, your posts reflect your dedication and study of our great system and thread.

Welcome aboard..

Cigarguy
Keep It Simple
  • #9,011
  • May 16, 2017 9:43am May 16, 2017 9:43am
EU M1 +5 Explaination on chart

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  • #9,012
  • May 16, 2017 10:11am May 16, 2017 10:11am
USDJPY +5 pips

After price first broke the 200 EMA with a huge red candle and then the level 113.500, I waited for the retrace and when the downward movement seemed to continue I took the trade.
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  • #9,013
  • May 16, 2017 12:05pm May 16, 2017 12:05pm
Quoting Spanudiez
{quote} Thank you so much for your analysis Vape. Looking at your charts I can see how bad an lucky my entry was. I'm gonna add 200MA as an additional filter and I'm gonna make sure to always check the higher timeframes first.
Dude, please do. You need the 200EMA so that you can make better entry decisions.
Rob
  • #9,014
  • May 16, 2017 12:06pm May 16, 2017 12:06pm
Quoting Vape
EU M1 +5 Explaination on chart {image}
Wonderful analysis!
  • #9,015
  • May 16, 2017 1:04pm May 16, 2017 1:04pm
USDCAD short....

higher time frames shows clear down trend

@ m1 chart after red candle i enterd.

dragon angle was good

got my target and out with 5 pips
Attached Image (click to enlarge)
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  • #9,016
  • May 16, 2017 5:03pm May 16, 2017 5:03pm
Quoting simjo
USDCAD short.... higher time frames shows clear down trend @ m1 chart after red candle i enterd. dragon angle was good got my target and out with 5 pips {image}
If you don't mind me asking, your USDCAD spread says 0.6, what broker offers such low spread. I'm with Forex.com and seeing 2.5 - 2.7 currently.
Ive never been a scalper, I have a larger timeframe system but looking to ad a new strategy. My EURUSD spread is 2.2 pips (Asian Session)

Are you guys trading with similar spreads?
  • #9,017
  • May 16, 2017 5:05pm May 16, 2017 5:05pm
Quoting robmagario
{quote} Wonderful analysis!
Patiently waiting for your new video. Your explanations are super clear. Can I be a pain and ask when can we expect a new one?
  • #9,018
  • Edited May 17, 2017 7:12am May 16, 2017 9:04pm | Edited May 17, 2017 7:12am
UJ M5 FIFO CT retrace scalp +12 (+5.8 @ 2 lots) Not much time for trading lately with outside business responsibilities and don't usually trade the Asian Session but opened my platform and saw this quick FIFO scalp.....so why not it was calling my name.........

I miss trading with you guys but lots of irons on the fire these days....

Typo on my chart bulls should be bears..
CG
Attached Image (click to enlarge)
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Keep It Simple
  • #9,019
  • May 17, 2017 12:04am May 17, 2017 12:04am
Quoting only20gp
{quote} If you don't mind me asking, your USDCAD spread says 0.6, what broker offers such low spread. I'm with Forex.com and seeing 2.5 - 2.7 currently. Ive never been a scalper, I have a larger timeframe system but looking to ad a new strategy. My EURUSD spread is 2.2 pips (Asian Session) Are you guys trading with similar spreads?
I changed from forex.com to xm.com some time ago, from what I experienced forex.com had higher spreads.
I currently have 1.6 spread on my Eu, but afaik XM adds 1 pip. On my comission account I only have 0.6 spread but I'm paying 6 Euros for 1 lot every time I enter a position.
On USDCAD I have 2.3, almost as high as yours (1.3 on my comission account).
  • #9,020
  • May 17, 2017 12:05am May 17, 2017 12:05am
Quoting cigarguy
UJ M5 FIFO CT retrace scalp +12 (+5.8 @ 2 lots) Not much time for trading lately with outside business responsibilities and don't usually trade the Asian Session but opened my platform and saw this quick FIFO scalp.....so why not it was calling my name......... I miss trading with you guys but lots of irons on the fire these days.... CG {image}
That's some high level scalping right there, I would have never dared to go long there.
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