Price Action Swing Trading - The PAST Strategy
- Thread starter Nigel Price
- Start date
- Watchers 91
I was also stopped out of EUR/USD at BE (red line on the chart). I re-entered as price retested the trendline.
I am waiting on the sideline on the GBP/CAD short setup. The daily candles have been quite bullish. Although it is several days away from closing, the weekly candle is currently higher than the open of the last bearish candle. I'm interpreting this as a potential invalidation of the bearish reversal signal.
Thanks,
A
I am waiting on the sideline on the GBP/CAD short setup. The daily candles have been quite bullish. Although it is several days away from closing, the weekly candle is currently higher than the open of the last bearish candle. I'm interpreting this as a potential invalidation of the bearish reversal signal.
Thanks,
A
Wow my charts are huge! (That's what she said. lol) Still trying to get these posts fine tuned.
A
A
I was stopped out of EUR/USD again for a small loss as it dropped 40 pips thanks to all the news events. I'm standing aside on this pair for now.
Greetings All,
Upon checking the charts this morning, I found that GBP/CAD had broke below my original H1 trendline. This caused me to reassess my standing aside on the GBP/CAD short setup. I watched as price then crossed above the trendline. I decided to enter short if price broke below the initial trendline, which it did shortly after. Price continued down and I was able to move the SL to BE.
Entering this trade was not an easy decision on my part, as this pair still appear to me to be ranging. But I have to remember that my initial instincts may well be at odds with my goals. Emotions versus logic. I had to remind myself that the core of PAST is to enter with minimal risk, take risk off the table ASAP, and then let the market do what it will. I was able to do my part, which are the first two steps. Now I have no risk on the table and much to gain if the pair break below major support. This is the best position to be in: nothing to loose, much to gain. It would seem logical that if I put myself in this position on a routine basis, the market will eventually payout.
Thanks,
A
Upon checking the charts this morning, I found that GBP/CAD had broke below my original H1 trendline. This caused me to reassess my standing aside on the GBP/CAD short setup. I watched as price then crossed above the trendline. I decided to enter short if price broke below the initial trendline, which it did shortly after. Price continued down and I was able to move the SL to BE.
Entering this trade was not an easy decision on my part, as this pair still appear to me to be ranging. But I have to remember that my initial instincts may well be at odds with my goals. Emotions versus logic. I had to remind myself that the core of PAST is to enter with minimal risk, take risk off the table ASAP, and then let the market do what it will. I was able to do my part, which are the first two steps. Now I have no risk on the table and much to gain if the pair break below major support. This is the best position to be in: nothing to loose, much to gain. It would seem logical that if I put myself in this position on a routine basis, the market will eventually payout.
Thanks,
A
Greetings All,
Upon checking the charts this morning, I found that GBP/CAD had broke below my original H1 trendline. This caused me to reassess my standing aside on the GBP/CAD short setup. I watched as price then crossed above the trendline. I decided to enter short if price broke below the initial trendline, which it did shortly after. Price continued down and I was able to move the SL to BE.
Entering this trade was not an easy decision on my part, as this pair still appear to me to be ranging. But I have to remember that my initial instincts may well be at odds with my goals. Emotions versus logic. I had to remind myself that the core of PAST is to enter with minimal risk, take risk off the table ASAP, and then let the market do what it will. I was able to do my part, which are the first two steps. Now I have no risk on the table and much to gain if the pair break below major support. This is the best position to be in: nothing to loose, much to gain. It would seem logical that if I put myself in this position on a routine basis, the market will eventually payout.
Thanks,
A
Well said Abercrombie
Here are my thoughts as we stand:
GBPCAD - I still trust my original analysis on this pair and believe that a large decline will take place over the coming weeks. Is this the time? who knows but I have not been able to find another entryto take advantage yet. I was in meetings all day today and so was out of the market (something I don't think is a bad thing on NFP day. As per my previous chart, I am going to wait for a break of the more pink trendline on my chart below:
EURUSD - I am sitting on the sidelines at the moment, I think it could go either way and don't have a strong conviction either way.
EURAUD - I have been in 2 minds whether to post this chart or not but have decided to do so. The reason for the indecision, I entered long yesterday but it had nothing to do with the PAST strategy apart from my interpritation of the weekly indecision. The trade was taken based on the H4 blue channel in my chart and I got in at the bottom. I have decided to include this because to answer your question Abercrombie, I am bullish however and will consider adding on a retrace or development of a new h1 trendline.
My sorest trade this week was AUDCAD, I got out with about 20 pips profit and since then price has dropped like a stone.
The big lesson here is patience, I have been trading this strategy for over 3 months now and still have times where I get anxious letting a trade run its course.
Patience is also key in letting the weekly and monthly anchor signals play out. Always bear that in mind when you experience multiple losses BE trades in a row. I have had a couple of huge winners with this strategy, easily making about 20 times my initial risk, these trades wipe out your losses so quickly but they do not happen every week or even every month for that matter. I think it is going to take about a year of trading this strategy to fully understand the potential that it has.
Happy trading and keep posting your charts A, enjoying seeing another perspective.
Stuart
I probably won't be watching the markets too heavily tomorrow with it being a holiday in the US however a setup I will be monitoring for next week is the AUDUSD. Its looking like a nice engulfing pin bar at the moment.
Stuart
Stuart
Hi Anu
I am also waiting for an entry on the AUDUSD.
I have also just taken an entry on EURNOK as per Nigels Report and GBPCAD which I have been watching for a couple of weeks and has now broken down through an H1 trendline.
I cant post charts at the moment but will try and get them done this evening.
Stuart
Greetings All,
I was stopped out of GBP/CAD at BE.
I entered short AUD/USD upon a break of the H1 trendline, but my SL was hit as price retested the trendline. Still looking for short entries in this pair.
I read Nigel's report and looked at EUR/NOK, but decided to sit this one out. I want to accomplish some level of proficiency with the standard setup (W1 anchor, non-exotic pair, etc.) before I expand into other possibilities. But I did check in on this pair at different times today and saw it break Nigel's trendline with good velocity. He sure is good at picking trendlines that matter.
I will be away from the charts for the rest of this week. Happy pip hunting to all!
A
I was stopped out of GBP/CAD at BE.
I entered short AUD/USD upon a break of the H1 trendline, but my SL was hit as price retested the trendline. Still looking for short entries in this pair.
I read Nigel's report and looked at EUR/NOK, but decided to sit this one out. I want to accomplish some level of proficiency with the standard setup (W1 anchor, non-exotic pair, etc.) before I expand into other possibilities. But I did check in on this pair at different times today and saw it break Nigel's trendline with good velocity. He sure is good at picking trendlines that matter.
I will be away from the charts for the rest of this week. Happy pip hunting to all!
A
Hi Friends!
At the basis of previous post Weekly sell SIGNAL AUDUSD, i entered on a retest.
Entry - 0.9385
SL- 0.9411
In above case i hitted with SL
again tried and again hitted with SL
TOTAL LOSS - 50 PIPS
Now again i entered SHORT_AUDUSD after trend line break at 0.9401, now i am at Break even (safe
)
Pls. refer below chart.
At the basis of previous post Weekly sell SIGNAL AUDUSD, i entered on a retest.
Entry - 0.9385
SL- 0.9411
In above case i hitted with SL
again tried and again hitted with SL
TOTAL LOSS - 50 PIPS
Now again i entered SHORT_AUDUSD after trend line break at 0.9401, now i am at Break even (safe
)Pls. refer below chart.
Attachments
Hi I am starting to get quite interested in this strategy. There seems to be a lot of logic in it.
I intend to read the PDF again and then start demoing it.
I intend to read the PDF again and then start demoing it.
Nigel, any news on the video course
https://www.youtube.com/watch?v=6CZM8-RIKCU&list=UU9GO1ZTRJqmtCIbVnMHLxvA
?
https://www.youtube.com/watch?v=6CZM8-RIKCU&list=UU9GO1ZTRJqmtCIbVnMHLxvA
?
Hi
Welcome to the forum. this is a good strategy but requires a lot of patience, if you can manage to keep your cool during the down times then you will more than make up for it when it goes well for you.
Feel free to post any questions, we can all learn from each other.
Stuart
Hi PAST traders
Last week was another quiet and relatively frustrating week for me with a few BE trades and a couple of losses on AUDUSD and EURNOK. I have recently purchased Forex Tester 2 and have started doing some proper testing with this method. The good news is, so far, my testing is showing that the method is extremely profitable over the long run. What it is also showing is that the winners can take a long time to come around although I can only test 1 pair at a time so it is slightly different to what we are doing in the real world.
I am going to continue to to test this method further over the coming weeks and I will post some statistics over time.
Anyway, back to the real world, there are a couple of possible setups on the weekly chart; AUDUSD remains a possible candidate for a bear move and EURCAD looks like it may be ready for a return to the longer term bull trend.
However, my most appealing set up for next week and the weeks to follow is the USDCAD. We have a big Bullish Engulfing candle which has printed after a strong move to the downside recently. This bullish reversal pattern is also at an area that makes alot of sense for a resumption of the larger bull move. please see the following weekly and h4 charts for what I am looking for:
Weekly:
H4:
Anyway, good luck for the week ahead everyone.
Stuart
Last week was another quiet and relatively frustrating week for me with a few BE trades and a couple of losses on AUDUSD and EURNOK. I have recently purchased Forex Tester 2 and have started doing some proper testing with this method. The good news is, so far, my testing is showing that the method is extremely profitable over the long run. What it is also showing is that the winners can take a long time to come around although I can only test 1 pair at a time so it is slightly different to what we are doing in the real world.
I am going to continue to to test this method further over the coming weeks and I will post some statistics over time.
Anyway, back to the real world, there are a couple of possible setups on the weekly chart; AUDUSD remains a possible candidate for a bear move and EURCAD looks like it may be ready for a return to the longer term bull trend.
However, my most appealing set up for next week and the weeks to follow is the USDCAD. We have a big Bullish Engulfing candle which has printed after a strong move to the downside recently. This bullish reversal pattern is also at an area that makes alot of sense for a resumption of the larger bull move. please see the following weekly and h4 charts for what I am looking for:
Weekly:
H4:
Anyway, good luck for the week ahead everyone.
Stuart
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