Price Action Swing Trading - The PAST Strategy

HEre is an update on GBPUSD for me. I am a little bit annoyed with myself, I took another entry this morning and everything was going well but i saw a bullish hourly pinbar at a daily support level and I exited both my trades for a cumulative profit of about 145 pips. There were a couple of reasons I did this, the daily support level and the rising daily trendline, seen on my chart in green. Both my trades were at BE and so I should have let them be. However, I am happy to have made 145 pips and I am also pleased that I controlled myself from jumping straight back in when it started looking like price was going to move down again. I will now be watching for opportunities to get in short again after a bit of a retrace, see chart:



Stuart
 
Hi Stuart,

Luckily yes! I didn't move the stop to BE which turns out to be lucky for once!

I'm just waiting to see how much damage the retrace does!! at the moment I'm 10XR/R.

how about you?

My USD/NZD looks like it gona get stopped out before the budget announcement tonight.

I also got in on the EUR/CAD @ 1.4968 but its just stalling at the moment.
 
russian30 said:
Hi Stuart,

Luckily yes! I didn't move the stop to BE which turns out to be lucky for once!

I'm just waiting to see how much damage the retrace does!! at the moment I'm 10XR/R.

how about you?

My USD/NZD looks like it gona get stopped out before the budget announcement tonight.

I also got in on the EUR/CAD @ 1.4968 but its just stalling at the moment.
Click to expand...

Nicely done Russian30. I am out of the GBPUSD now as per my post above, I got nervous around the daily support area. I still think that this has further to fall and so I'll be looking to enter again if I see an opportunity.

I hve also just exited one of my EURAUD added positions for a profit of 284 pips with my original position now at about 680 pips profit (i'll be holding onto this position for the long run - if we get any more!!!)

The AUDUSD looks like it might finally be ready to turn, keeping my eye on it over the next couple of days after last months bearish PB.

Stuart
 
HI folks, just giving this a shot, don't know if it will work or not but I amde a quick video on the GBPUSD trades this week. I need to work on the volumes but other than that it should be ok. IF people find this useful I wil post more from time to time.

<a href="http://www.screencast.com/t/jMFE7T35egx">GBPUSD PAST ANALYSIS</a>

Stuart
 
Great video Stuart!! I'm looking forward to your next one. I think its a great way to contribute to this thread.

It's weird to see you having almost exactly the same trend lines as me. It makes you wonder just how many people are trading the same prices. I suppose it strengthens the argument that technical analysis is a self fulfilling prophesy.

Great Stuff😀😀
 
who would be interested in starting an instant messenger group for PAST trades? we could use whatsapp.

I've noticed that its quite hard to follow the forum in real time when people are posting during the day. Especially when the email notifications are delayed or don't come through at all 😡!!!

I think it would be easy and helpful to discuss the markets in real time especially for entries and exits and the like?
 
Don't get me wrong, the forum is great for post and pre trade analysis buy IM would be better for real time stuff and general market chat during the day.
 
russian30 said:
Great video Stuart!! I'm looking forward to your next one. I think its a great way to contribute to this thread.

It's weird to see you having almost exactly the same trend lines as me. It makes you wonder just how many people are trading the same prices. I suppose it strengthens the argument that technical analysis is a self fulfilling prophesy.

Great Stuff😀😀
Click to expand...

Thanks Russian30, I will definitely add some more moving forward.

Stuart
 
russian30 said:
Great video Stuart!! I'm looking forward to your next one. I think its a great way to contribute to this thread.

It's weird to see you having almost exactly the same trend lines as me. It makes you wonder just how many people are trading the same prices. I suppose it strengthens the argument that technical analysis is a self fulfilling prophesy.

Great Stuff😀😀
Click to expand...

I think this is a great idea, and would be happy to make contributions to any IM group when I can.

Let me know if you want to go ahead and we can share details

Stuart
 
Hey folks, here is a quick video I did on the EURCAD pair this morning. Please jote I recorded this at about 6am Uk time and so mostof todats price action has not been considered. I will upload a few charts this evening following todays movements but I still think the video is worth a look:



Stuart
 
its fantastic strategy, my one query - when we ensured a strong sell/ buy signal in Monthly/Weekly anchor chart and opened an position then i should keep open that position till some new opposite sell/buy signal to appear at anchor chart , till then i should keep in old position continue which i opened ?
or i should rather then keep open one position i should keep close open many positions whenever any trend line break ?

pls. clarify it.
 
Hello everyone, and many thanks to Nigel for generously sharing this method. It seems to work really well for me. I'm trading this since april 7 with good result:
number of trades: 20
wins 4
losses 7
breakeven 9
total 263pips profit
cheers to all
 

Similar threads

T
ElectroFX Pure Price Action Trading
Replies
13
Views
11K
Trading Systems and Strategies
sympathy
S
asiaforexmentor1
Price Action Forex -Why Forex Trading is Easy with Price Action?
Replies
0
Views
4K
Trading Systems and Strategies
asiaforexmentor1
asiaforexmentor1
zealfx
Price action trading strategy basics
Replies
1
Views
2K
Trading Systems and Strategies
GazFx
GazFx
new digital
Casey's intraday price action scalping techniques
Replies
23
Views
13K
Trading Systems and Strategies
new digital
new digital
DRFXTRADING12
Swing Trading Strategy - 19% Return, 5 Trades, 1 Month
Replies
12
Views
6K
Trading Systems and Strategies
DRFXTRADING12
DRFXTRADING12
Top Bottom