Price Action Swing Trading - The PAST Strategy

[anukrh]

Hi Nigel Sir!
You explained very nicely, i got it.
Can you pls. explain how can i know SL
placements for various currency pairs since each
having different volatility ?
or
whether its enough to put SL as you explained in
your e-book (just above trend line or just above
trend line + last high)
Anu

 

[stuart1984]

HI folks

I see a nice looking H1 trendline developing on the GBPUSD, will enter if it breaks:



Stuart

 

[stuart1984]

HI folks

I see a nice looking H1 trendline developing on the GBPUSD, will enter if it breaks:



Stuart

I have gone short on the pin bar retest of the trendline shown in the above chart.

Happy trading

Stuart

 

[Nigel Price]

Had one trade on EUR/NOK yesterday on a break of that trendline I posted yesterday - stopped out at B/E.

Taking another rattle at this now - am in on the break here ->

[/url]Click for large view - Uploaded with Skitch[/IMG]

 

[Nigel Price]

Hi Nigel Sir!
You explained very nicely, i got it.
Can you pls. explain how can i know SL
placements for various currency pairs since each
having different volatility ?
or
whether its enough to put SL as you explained in
your e-book (just above trend line or just above
trend line + last high)
Anu

Exactly as in the ebook Anu - I place more importance on where the stop is as opposed to a number of pips. I like to make sure that it is in a place that I will know I am wrong if price gets there. So I just let the price tell me whether I am right or not.

The best indicator of what works or doesn't work is your own P/L account. It never lies

If it is going up you are right, if it is going down, you are wrong - couldn't be any simpler

 

[myknees]

Exactly as in the ebook Anu - I place more importance on where the stop is as opposed to a number of pips. I like to make sure that it is in a place that I will know I am wrong if price gets there. So I just let the price tell me whether I am right or not.

The best indicator of what works or doesn't work is your own P/L account. It never lies

If it is going up you are right, if it is going down, you are wrong - couldn't be any simpler

So true - And nice to see you back - Good luck with EURNOK

 

[Nigel Price]

Click for large view - Uploaded with Skitch

 

[Nigel Price]

Sorry guys, mistake - that stop in the chart above should say 8.3715

Not easy to trade, screengrab, and annotate all at the same time!


CHANGED NOW

 

[Nigel Price]

Testing the 8.37 level now

 

[Nigel Price]

I got the idea for the moving averages off you Stuart - not sure whether they help me or not yet, but I'm giving them a go!

The price action and the candles will always be the most important thing for me though - that will never change.

 

[Nigel Price]

Click for large view - Uploaded with Skitch

 

[Nigel Price]

Trading the Norwegian Krone reminds me of the time I bought a pizza in Oslo.

 

[Nigel Price]

Knocked out by that spike up - I'm not sure this is over yet though so I am watching.

I'll do out the number of pips etc after

 

[Nigel Price]

In 8.367

 

[Nigel Price]

Stop 8.3730 - above high

 

[Nigel Price]

Taking a step back for a second to have a look at the bigger picture - this is what I see on the daily chart -

 

[Nigel Price]

Click for large view - Uploaded with Skitch

 

[Nigel Price]

Right not much happening here, as we have had to get used to over the course of the last while in the markets.

I see broadly that the USD is getting on well this morning - hope it is being kind to your accounts!

Going to leave stop in place on this trade and go out to get myself some lunch

See you later

 

[Nigel Price]

Right that's two losers this morning - not great. But it happens.

EURNOK is pretty prone to spikes and jumps, and wide spreads - probably not the best pair to be trading on intraday!

Last shot today here underneath the trendline, stop above the highs.

If this gets stopped out I'm going to stand aside, probably until if/when the trendline below is broken.

Entry price 8.3705

Click for large view - Uploaded with Skitch

 

[Nigel Price]

Click for large view - Uploaded with Skitch