This is the last discussion as I will post here only live trades.
You are absolutely right.
mostafakamal SPA is not a mechanical “system”. It is the understanding of price. If you understand her then you can exploit her.
Daily BEEDT
Analysis
- The BEEDT will be traded as a breakout PA setup
- Double Top chart pattern
- Monthly and weekly trends are BEARISH
- Direct trend in sync Bearish
- FCL the BRN 1.5500
Trade Plan
TDE projection 6 days
The potential target of double top coincide the MBRN
See trade details on position size calculator below
TP 0.1L at FCL and move SL at BE
We will trail the rest of the position accordingly
If the 95% of the retail traders will see this as a buy opportunity (daily hammer), we will be contrarians to touch trade a logical level with confluence of resistances protected by the invalid daily hammer itself.
What is contrarian trading? It is an ideology in which the traders chooses to make trading decisions that go again the popular consensus.
Thus minimum risk taking with a TT at the level 1767.
The recognition for the current stress free trade should be given to George who promptly detected this trading opportunity.
Our vision as founders of SPA methodology was the formation of a trading community in order to exploit price and thus all to benefit from her, armed with a common and proven trading method that will eliminate any dissimilarities on critical trading decisions.
MikeSPA
First of a great Tread, I know I can learn a lot from these posts. Just a quick question, how many trades do you post here compared to what you post in your forum?
Thanks I will wait for your answer.
If I am not mistaken all.
Where is your forum? Feel free to PM as I don’t have 20 posts yet.
Evaluation
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Shooting stars are bearish reversal price action setups that mainly occur at the top of an uptrend. We traded our shooting star as a breakout PA setup at swing low.
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Even if we are bias that the weekly formed a swing trap, the weekly trend with current facts is bullish.
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Price is trapped in a “dead zone” where anything can happen.
Busy documenting SPA methodology. Back to the public thread.
I will try to post all trades of 2013. Copy paste from our forum. 12 trades in total with 100% win rate. Two of them are open at break-even
Weekly Shooting Star
Analysis
This is a counter to the Monthly and Weekly trend.
We see on our charts the formation of two Weekly Shooting Stars in a row with the last one super stronger than the first one due to the strong closing. Therefore, we are talking about two consecutive reversal price action setups ready to shoot downwards giving us the chance at least to break-even our potential risk-taking.
See how the Weekly Shooting Star sticks out from the surrounding candles. It has a perfect shape and a great size which is double the ADR (5).
It is located at swing high with no traffic to the left. Pay attention to the location as it appeared at a great confluence of two unconfirmed Monthly and two unconfirmed Weekly resistance levels, the VBRN 9.000 and the upper boundary of the Bearish wedge.
All direct trends are in sync Bearish with the conservative entry approach.
We identified the internal weaknesses of the Weekly Shooting Star where we could use them as a touch trade level (see the level marked in green) if price directly retrace the PA setup.
Money Management
I selected the aggressive entry approach to take a risk on the Weekly SS on my personal account
See in detail the parameters of the trade on the position size calculation below. Always round down your lot size
I identified as FCL the SEC WS @ 8.77000
The exit plan will be based on DE1P
Weekly H (2)
Analysis
This is a counter to the Monthly and Weekly trend
Great dimensions with close within the range of previous candle
It was formed at swing low with no traffic to the left
It appeared at the confluence of a PRI CNF MS and a SEC UNC MS plus a VBRN
All direct trends in sync bullish with the conservative entry approach
Satisfactory FCL with room for price to run
