Supply/Demand, VSA, Wyckoff with Petefader

Wow, excellent! :slight_smile:

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.


See the ND on that chart there, those are my favourites, same with NS, trend continuing, high prob trades.

Hm, I saw NoSupply some time later. Can you guys please correct my interpretation?


Not exactly sure what type of crowd you are trying to attract here with bunnies and chocolate chip cookies, Pete! :15: 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!

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. :stuck_out_tongue:

You have your own excellent thread dedicated to this very setup, if I am correct Purple ?

Thanks Pete!

I have a couple of quick questions.

  1. You end the day at 16:00gmt. When do you start?
  2. In your experience, what’s the best broker for VSA?
  3. Which volume indicator do you use? Or are they all the same, and the difference in shown volume is due to the broker?
  1. I did just go through my schedule 2 posts ago. Ideally I would start at london open…if not for sleep.
  2. IBFX, get the demo.
  3. Just the “Volumes” indicator that comes with the platform, nothing fancy. Yes, It will vary between brokers.

Just found your thread and am enjoying reading through it.

Checked out my platforms “tools” and the only volume indicators come in the form of a line, similar in appearance to RSI, instead of bars.

Don’t know if it is possible to do anything about that or not. But nevertheless, as I say, enjoying the thread.

Welcome. On MT4 go to: Insert/Indicators/Volumes/Volumes. You’ll have exactly what I’m using and can you adjust the color and width of the bars.

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I missed your question earlier. Yes, your posts are encouraged…in this thread now. Sure, any market will do. The principles are the same.

Thank you Pete. This would be a fantastic experience for myself and all readers of this thread - newbies as well as seasoned ones. Newbies can learn/discuss alongside with me, the veterans can also jot down their thoughts, Pete can see if we’re interpreting right. This thread would be pretty exhaustive. I’ll be posting every weekend. As I told before, I’ll be posting stocks (Daily charts) and not forex - don’t mind with why and which but these are from live markets. So, here we go:


In the charts above at position:

#1) “Weakness - when it appears, it appears in UP bar” I remember this line. In that bar we see that it’s an UP bar. The next bar closes down. Volume is very high - the pro showed their hand. So, we see signs of weakness. But that very bar closes at higher half! Was there more buying then selling?

#2) The market gapped down considerably. All bulls are trapped. Again, the volume is huge! - pros created huge selling pressure overnight. The bar closed almost at middle.

#3) High vloume with wide spread bar. The bar closes at upper half. next bar closes down - it’s a down bar. More weakness?
But, as the bar closed at upper half, we can conclude that there was more buying - again “Weakness - when it appears, it appears in UP bar”

#4) Down bar with relatively higher volume than before. Second buying wave from pros? Maybe a sign of strength?

#5) Down bar with volume higher than #4) - Third wave of buying from pros? Maybe a sign of strength?

#6) Up bar with almost same volume as #5). What just happened here?

#7) Very wide spread UP bar high volume compared to last couple (10) days. Bar closes at higher half. Who’s buying? Why’s spread so wide?

#8) Very wide spread UP bar ultra high volume! Bar closes at upper half. What’s going on? Next bar closes down. Is this buying or selling from pros?

Overall, I see a shift in sentiments of the pros in the above chart from selling (left half) to buying (right half of chart).

So, these are my thoughts about this particular chart. I might missed or overlooked couple of factors in here, feel free to point out those and also say it where I’m getting it wrong.

Thanks

Hey, I have been trading for over a year now. Seven months of VSA trading. I was taught by Pete’s thread but also by other VSA resources. I trade both Pete’s FIB method AND my own VSA setups when they scream at me.

This is my last trade on EUR/USD M5. High volume on large up-bar is a buying climax, which was followed buy confirming decreasing volume and ND’s. I entered on the brake of low of the ND, my SL was right above the buying climax giving me nice R:R. I took profit once it slowed down at +25 pips. Comments and thoughts are welcomed. :cool:

nice to be yehhhhhhhhh…lol

Hey Sagi, yes that entry differs from mine because I would look for the ND once price started moving down away from the high…because, that is an area where we saw high volume supply come in, and if there is [I]low[/I] volume there, it may be showing that the supply is no longer there is such large amounts, and could go for another leg up.

I’ll say, the majority of VSA traders would agree with that setup…in my experience I’ve found that if price were to continue up, it would usually see low volume at the top as well.

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Good interpretation, I’m sure your posts will be beneficial. You might want to consider even more the reaction to high volume points…as in the next candle. For example, example 2 could have been a sign of strength had the next candle closed higher. Whenever I’m unsure what exactly went on during a high volume candle, I look to the next candle to clarify things.

Background is mixed, range. I see more supply than demand today so far. I’m simply watching the reaction to this level now.


Wicked man, I was looking at the chart and was thinking, as good as you are, and as good as this strategy is, you have to stay out when it’s like this, and hey presto I click on the thread and that is exactly what you said, I learned the hard way to stay, you probably did? I think most of have, but it don’t matter how good you do when the market is behaving nicely, you have to stay out at times like this.

I agree with you. I’ve not made a trade so far this week but I’m watching every move though. Patience is everything in this game.

And remember, do as I say not as I do, it’s the difference between me being a mega profitable trader and a reasonable one, it’s just so easy to lose those gains, so easy to convince yourself that those high volumes are the end of that trend, this is why I keep banging on about continuing trends, less subjective, less of a chance to talk yourself into a losing trade.