Supply/Demand, VSA, Wyckoff with Petefader

[Hummels]

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?

[petefader]

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.

[The Home Of Golf]

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.

[petefader]

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.

[petefader]

Hello petefader,

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.

Thank you


** 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.

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

[desifxtrader]

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

[SagiCZ]

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.

[fabulono1]

nice to be yehhhhhhhhh...lol

[petefader]

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.

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 low 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.

[petefader]

Thank you Pete. This would be...

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.