I'm very new into learning VSA and I find it pretty amazing but it is also sometimes very confusing. Anyways, I highly appreciate your renewed effort and time to startup a new thread. Practitioners of this method are very rare and like minded people are really harder to find. Thanks to the internet and great forum like this one.
I really don't know why good and solid methods such as this has been shoved under the carpet by the mainstreams. Everywhere we see - internet and the media, they're selling the super secret silver bullet trading system ($97 - $5000) based on same rehashed indicator based formulas.
** As a newbie learner, I'm full of doubts in this phase. Is it okay if I ask some of my doubts with the charts in this thread or do I make the doodles in other thread? I'm following stocks and I thing it doesn't really matter which market we follow while applying VSA principles.
Last edited by desifxtrader; 11-07-2011 at 03:34 PM.
Monday and Friday I usually don't make it here until NY session but tues, wed, thurs I wake up at 5:30 am EST. That's been my schedule for a while now. It's a good balance between making it in time for setups and getting sleep. I'm 35 now and yeah, I can't do it like it used too lol.
Anyway, just looking at the charts now. As I said in the new video, we are technically in Accumulation phase on 1hr, but looking at these up moves today on the 5 min, there is a lot of supply showing up. I would have to say clearly more selling pressure is there right now and it's acting more like redistribution.
This can seem tricky, the way accum/dist can seem to switch back and forth, but that's the way it can go during a range. If you stay with SM and buy low sell high, and manage your trades right, you can still profit on scalps.
Not exactly sure what type of crowd you are trying to attract here with bunnies and chocolate chip cookies, Pete! Lol I know I been absent lately but Ill try to make some appearances and help get the newbies on the right track with ya!
Hm, I saw NoSupply some time later. Can you guys please correct my interpretation?
You are correct in seeing the demand coming in, then the NS, however the NS volume was not lower than the previous 2 candles volume to be technical about it.
If you look left on the 5 min you see much higher volume spikes showing supply as my chart shows. By buying there you are "buying into an area of weakness".
Today was a ranging day again. We know why as I explained in the video part 3. So, you can have valid short/long/short setups one after the other but if you try and judge which looks stronger as far as supply and demand, you'll be raising your probability. In todays case, the supply had the higher volume. Also, I don't trade after 16 GMT..not as safe.
Enpoint! lol, I was waiting for someone to notice that lol..I can change them.