Price Action Swing Trading - The PAST Strategy

It has been failry quiet in here lately. I hope everyone came out of the CHF bombshell without any major wounds. Thanks to Nigel for the nice writeup at Forex Useful regarding the CHF event.
 
Abercrombie said:
It has been failry quiet in here lately. I hope everyone came out of the CHF bombshell without any major wounds. Thanks to Nigel for the nice writeup at Forex Useful regarding the CHF event.
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Hi Abercrombie

I hope you are well. Yes it has been quiet here recently, I intend to start posting again properly very soon.

Thankfully I didn't lose in the CHF debacle, I hope you were ok too.

Let's see if we can make some pips again this year.

Stuart
 
Right folks

I have been very lazy with my posting recently and I intend to get going again as of now. How has everyone been getting on trading PAST? All in all I have done pretty well with the strategy but I have decided to make a couple of changes for 2015. The most significant change I am making is in the number of trades I will be attempting at any time. Last year I would allow myself to open multiple trades at the same time and I got burned badly a few times as a result.

This year, only 1 attempt at any given time,therefore, until I get to BE or get stopped out for a loss I cannot try another trade on the same or another pair. I am hoping that this will help with my discipline and reduce draw down at certain times.

I currently have a long position on GBPUSD but after NFP my floating profit went from +150 to about +45. My stop is at BE so I am therefore allowed to look for opportunities.

Having a scan through the weekly charts this week and there are a few good looking opportunities:

CADJPY long
EURUAD Short
GBPJPY Long
AUDJPY Long
NZDJPY Long

A few pics to follow

Stuart
 
OK here is NZDJPY

Weekly:



H4:



The other pairs I mentioned in my post above are all fairly similar. NZDJPY is my favourite of the lot and I will be starting to look to establish a position Monday am.

Stuart
 
Hi folks

Well my GBPUSD trade got stopped out at BE today - nevermind.

NZDJPY never looked like retracing to where I was looking for an entry and so I started looking at some of the other pairs I mentioned yesterday.

I have managed to get long on CADJPY with a standard TL break from the H1 chart. Entry was 95.019 with a 30 pip SL which has now beenn moved to BE. Here is a chart:



Now that this trade is at BE, I can begin looking for opportunities elsewhere or look to add to this position.

Happy trading

Stuart
 
Last edited:
Another BE trade on CADJPY yesterday - Better than a loss

I also entered long AUDJPY once the above CADJPY trade was at BE. Floating with a very small profit and I aim to get to BE as soon as possible.

Stuart
 
Hi folks

Of the setups I was looking at last week, I still like:

EURAUD Short
CADJPY Long
AUDJPY Long

New Setups for this week:

USDJPY Short - Nigel has mentioned for a few weeks based on Monthy chart and I am now beginning to see some evidence that the Bears are looking to give it a shot.
USDCAD - Similar to USDJPY

As per my new rules, I will only be trying 1 opportunity at a time, will keep th forum up to date on what I am attempting.

Stuart
 
Hi folks

As per my post above, entered into EURAUD short on the break of an H4 trendline:



Stop is now at BE so I may start looking for other opportunities if I see something I like the look of.

Stuart
 
Stopped out at BE on EURAUD over night, now looking to re-enter on a retest of the trendline indicated in my post above.

Alos interested in a AUDJPY Long:

H4 chart:



Stuart

Stuart
 
Update:

Entered long AUDJPY as per the above post. Stop at BE now so hopefully we will see some further upside movement.

Once the above trade was at BE I managed to get short USDCAD and this is now also at BE. So far a good start to the week.

Stuart
 
myknees said:
What happened to everyone here?
Click to expand...

we are all so busy taking advantage of the great moves recently that we haven't been posting, myknees 😀😀

A quiet forum is more likely to be a profitable forum, if you ask me.

My I have been recording some updates on EURAUD recently - am closing in on a 2,000 pip gain (albeit half of that is still floating profit, not realised) so far in 2015.

If you want to check them out, you can find them here.

Hope you are keeping well. If I get the chance I might post some charts in here this week.

Nigel
 
I was thinking of doing my weekly reports in two sections - part 1 where I look at some charts, and part 2 where I look at some of the more practical aspects of trading.

For instance, last week I looked at the difference between being a technical analyst on the one hand, and being a trader on the other. There is a subtle but fundamental difference between the two.

Obviously the state of the market will largely dictate the content of the first section of my reports, but I would be more than happy to take requests for the topics I cover in the second part.

I have loads of ideas for things I could talk about, but if there is anything specifically that people would like me to cover, let me know and I would be more than happy to oblige!

Hope your trading week is going well guys - watch out for Patient Granny Yellen later! 😀😀
 

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