Price Action Swing Trading - The PAST Strategy
- Thread starter Nigel Price
- Start date
- Watchers 91
Hey guys
Not much happened for me today, I was stopped out of GBPUSD and AUDNZD shorts at BE.
I have noticed what I believe to be quite a nice looking setup on the daily anchor chart in GOLD. See the following charts for details including my entry plans:
Daily chart:
H1 entry chart:
Happy trading folks, it has been a difficult month for me so far, that being said, I have managed to keep my losses to a minimum and only need one good trade to make it another excellent month trading this strategy. Stick to the plan!!!!
Stuart
Not much happened for me today, I was stopped out of GBPUSD and AUDNZD shorts at BE.
I have noticed what I believe to be quite a nice looking setup on the daily anchor chart in GOLD. See the following charts for details including my entry plans:
Daily chart:
H1 entry chart:
Happy trading folks, it has been a difficult month for me so far, that being said, I have managed to keep my losses to a minimum and only need one good trade to make it another excellent month trading this strategy. Stick to the plan!!!!
Stuart
My short entry in GOLD was triggered over night, so far so good, now my objective is to get to BE asap.
Stuart
Stuart
Hi Anukrh
Very difficult to give you answer without seeing what context the trade is in. Are you able to post a chart?
Stuart
My short entry in GOLD was triggered over night, so far so good, now my objective is to get to BE asap.
Stuart
Stopped out of this GOLD short at BE. After US CPI I thought we were off to the races but price then reversed. It is a good thing I got to BE just after the news event.
I will now be watching for some form of Price action sell signal on the retest of the trendline in the chart above.
Stuart
Morning guys
Couple of trades I am now in:
Gold - based on a trendline retest:
GBPUSD - based on the Daily chart and an H1 trendline break:
Happy trading
Stuart
Couple of trades I am now in:
Gold - based on a trendline retest:
GBPUSD - based on the Daily chart and an H1 trendline break:
Happy trading
Stuart
Hi Stuart!
in current chart of EURUSD i entered at 1.3561 (EURUSD - SELL) on yesterday, trade moved +25 pips below , initial i given SL - 1.3588, now i want to move my SL at Breakeven point, as per your consideration what can be the best BE point for this trade and why ? because it will help to decide BE point for other trades.
anu
in current chart of EURUSD i entered at 1.3561 (EURUSD - SELL) on yesterday, trade moved +25 pips below , initial i given SL - 1.3588, now i want to move my SL at Breakeven point, as per your consideration what can be the best BE point for this trade and why ? because it will help to decide BE point for other trades.
anu
Attachments
Hello Firends !
SELL Opportunity - AUDUSD (daily anchor chart - long wick candle)
Preceding trend - long Bullish candle.
Entry from resistance level & trend line too (.94106)
pls. refer chart below.
Anu
SELL Opportunity - AUDUSD (daily anchor chart - long wick candle)
Preceding trend - long Bullish candle.
Entry from resistance level & trend line too (.94106)
pls. refer chart below.
Anu
Attachments
Last edited:
Hi Anu
I would have moved to break even at the close of the large bearish red candle that you entered on. It was a big candle compared to the surrounding candles and I would take that as a sign that price is moving in your favour. I cannot tell ou the exact price that BE would be, you will need to check with your broker. When you move your stop loss on MT4 and the hover over the line with your cursor, it will tell you what your profit or loss will be if that level is triggered. You can use this to know when your trade is at a BE level.
I hope this makes sense and helps, not sure if I answered your question or not?
Stuart
Thanks for the Updates Anu, keep up the good work. HOw are you getting on with your trades?
Stuart
Good evening fellow traders. I apologise for not posting very much during the week, I have been busy again with work and I have also been having a very poor month trading. I am currently running at a loss for the month all be it a small percentage of my account. Moving to BE aggressively has definitely helped protect my account during this poor spell.
How has evryone else been getting on this month? It would be interesting to know if everyone is finding this a tough month or if I have just gotten a little out of sync with the market.
I have found myself looking for trades too much, trying to make a trade when none were there. I will be reviewing my trades at the end of the month but I already know what the result will be. Previous 2 months I have only taken trades based on a weekly or monthly anchor signal, this month i moved down to the daily charts, I believe this is where the problem lies. I am therefore going to stick to monthly and weekly signals from now on. If there are none, I will not be trading.
Psychology is such a massive part of trading, I have really been trying hard to maintain discipline but the factI am looking at smaller timeframes tells me that I need to try harder. Patience is key. If I can continue to limit my losses during these tough times, I will be there to take advantage when the setups that are going to work come along.
Happy trading veryone, I will check charts ver the weekend and if there is anything worth mentioning I'll post some charts on Sunday evening.
Stuart
How has evryone else been getting on this month? It would be interesting to know if everyone is finding this a tough month or if I have just gotten a little out of sync with the market.
I have found myself looking for trades too much, trying to make a trade when none were there. I will be reviewing my trades at the end of the month but I already know what the result will be. Previous 2 months I have only taken trades based on a weekly or monthly anchor signal, this month i moved down to the daily charts, I believe this is where the problem lies. I am therefore going to stick to monthly and weekly signals from now on. If there are none, I will not be trading.
Psychology is such a massive part of trading, I have really been trying hard to maintain discipline but the factI am looking at smaller timeframes tells me that I need to try harder. Patience is key. If I can continue to limit my losses during these tough times, I will be there to take advantage when the setups that are going to work come along.
Happy trading veryone, I will check charts ver the weekend and if there is anything worth mentioning I'll post some charts on Sunday evening.
Stuart
Greetings All,
I am still new to PAST, so please forgive any mis-steps. I didn't have much activity this week as I didn't see any setups that tempted me. I did see a nice bearish reversal candle on the weekly chart for palladium, but I've never traded it and I found it wasn't on Nigel's list of commonly traded instruments.
I am still in a long position in NZD/CHF from June 9th (before I learned that this pair isn't on Nigel's list). The prior downtrend was short, but it looked to meet the criteria. I entered on the break of the trend line on the H4 chart and quickly moved my stop to BE. Now its just been sitting at around 150 pips open profit.
NZD/USD made a similar move, but my entry wasn't as good and I was stopped out on the retest. Then price took off before I could find a good point to re-enter.
Hope this week's activities bring good setups. Happy Trading!
I am still new to PAST, so please forgive any mis-steps. I didn't have much activity this week as I didn't see any setups that tempted me. I did see a nice bearish reversal candle on the weekly chart for palladium, but I've never traded it and I found it wasn't on Nigel's list of commonly traded instruments.
I am still in a long position in NZD/CHF from June 9th (before I learned that this pair isn't on Nigel's list). The prior downtrend was short, but it looked to meet the criteria. I entered on the break of the trend line on the H4 chart and quickly moved my stop to BE. Now its just been sitting at around 150 pips open profit.
NZD/USD made a similar move, but my entry wasn't as good and I was stopped out on the retest. Then price took off before I could find a good point to re-enter.
Hope this week's activities bring good setups. Happy Trading!
Attachments
Hello traders
Not a great deal of interest after looking through the weekly charts. The best setup that I can see is the GBPCAD. The main anchor chart is the monthly chart with an engulfing candle which printed last month. As always, the monthly signals can take a bit of time to play out and so the weekly engulfing candle last week leads me to believe that if this pair is going South, it may be about to do so.
As a result, I am looking at the lower time frames to get the best possible entry,limiting my risk and giving me the best opportunity to profit from the market. PLease see the following chart for my ideas. ANy questions, give me a shout.
Also just read Nigels weekly report and it strikes a chord with me becuse of the poor results I have had over the last couple of weeks, it is definitely worth a read if you have not already done so, the link is here:
http://forexuseful.com/price-action-swing-trading-past-strategy-22-jun-14
Happy trading everyone
Stuart
Not a great deal of interest after looking through the weekly charts. The best setup that I can see is the GBPCAD. The main anchor chart is the monthly chart with an engulfing candle which printed last month. As always, the monthly signals can take a bit of time to play out and so the weekly engulfing candle last week leads me to believe that if this pair is going South, it may be about to do so.
As a result, I am looking at the lower time frames to get the best possible entry,limiting my risk and giving me the best opportunity to profit from the market. PLease see the following chart for my ideas. ANy questions, give me a shout.
Also just read Nigels weekly report and it strikes a chord with me becuse of the poor results I have had over the last couple of weeks, it is definitely worth a read if you have not already done so, the link is here:
http://forexuseful.com/price-action-swing-trading-past-strategy-22-jun-14
Happy trading everyone
Stuart
Hi Stuart!
not more but try to follow PAST rules and applying on my trading, most timings hitting SL
and whenever some trade going in favour due to fear closing early thinking that may me it will return back and again hit SL
actually i need more practice in my trading ,so as per my wish as well as your suggestion also i am doing DEMO trading only, once i am more confident on my trades forecast i will move to live account.
Anu
not more but try to follow PAST rules and applying on my trading, most timings hitting SL
and whenever some trade going in favour due to fear closing early thinking that may me it will return back and again hit SL actually i need more practice in my trading ,so as per my wish as well as your suggestion also i am doing DEMO trading only, once i am more confident on my trades forecast i will move to live account.
Anu
Hi Stuart!
not more but try to follow PAST rules and applying on my trading, most timings hitting SL
actually i need more practice in my trading ,so as per my wish as well as your suggestion also i am doing DEMO trading only, once i am more confident on my trades forecast i will move to live account.
Anu
Hi Anu
I think it it is great you are sticking with the strategy as over time I believe you will be able to see the success of it. You are going to find that your SL gets hit a lot more than you would like or even if you were trading a different type of strategy. Because of this, it is very tempting to take profits off the table when you get them, however, with a strategy where you lose more trades than you win, it is very important to let those winners run, it is the only way you will come out on top. This is where fear and greed come into play.
With the PAST strategy, it is very important to be greedy when a trade looks like it is working in your favour. I tend to add to my positions once they have started moving in my favour. You can then use these added positions to cover any losses that you have experienced establishing your winning position. Alternatively, dpending on the size of your position, you could take some of the position off to cover your losses.
Keep up with the demo, buttrade it like it is your own money, you want to practice dealing with the emotional side of the strategy too. Once you get a few big winners and you can see the potential, move on to a small live account and do the same thing all over again until you uild more confidence in yourself and the system.
Good luck and keep us posted with your trade ideas, the more people that are active on this forum the better,we can all learn from each other.
Cheers
Stuart
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