VSA & Price Action – A powerful combination

[finjoman]

Hi Danny K. Thanks for sharing. I am still learning to trade and find it fascinating. I work full time and long hours, cannot watch put up charts during the day. In the evening I am dog tired. My timezone in South Africa is GMT+2. Itry some swing and end of day trading with not much success. I always miss the beginning of the big moves and have been taught not to chase the market. I am resorting to trade pullbacks by placing orders off support and resistance leves. I would like to use clean charts with 20, 50, 100 & 200 EMA’son the daily chart for direction bias as well as fib levels and pivot points on the H4 and H1 charts for entry, exit and trade management. I use 5 minutes and 15minutes charts to time the entry. This is however difficult if you dont have time to monitor the charts. May I ask if you use moving averages and pivot points and if not why.

Regards

Finjoman

[Nikitafx]

More or less, S/R trendline confluence, then specifically these entries for longs

vice versa for shorts, and also 3 subsequent pinbars, so this mornings entry wasn’t ‘textbook’, the more you deviate from these entries the more the risk.

I took BE SL on the one this morning, but there was a long entry after 11 BST this morning from the 1.300 rejection, as per my second entry on the above graphic, and that’s about it really, btw, not in that one, I was having a nap!

Do you watch out for the reversal candle patterns on Min 15 or do you use a higher TF and pick your entry on Min 15 as per your chart above?

Forgive my incessant probing but I rarely seen you talk about your methods!

[purplepatchforex]

Do you watch out for the reversal candle patterns on Min 15 or do you use a higher TF and pick your entry on Min 15 as per your chart above?

Forgive my incessant probing but I rarely seen you talk about your methods!

Just the 15m, I keep the 5m up with a few candles, sometimes I’ll enter on the last 5m of the 15m, if the 5m setup agrees nicely, but only rarely.

Probing - no problem, I’ve been trading this way for a few months now, but I’ve only just posted about it.

EDIT:
Oh and as for staying in trades, if you get long full bodied bars with small wicks, stay in the trade, it is strong in that direction, that’s a simple thing taken from VSA, soon as you see longer wicks in the direction of the trade, it’s time to consider and exit.

[finjoman]

Thanks. And if looking to re-enter the trade, wait for a re-test of the level for confirmation of the move.

[purplepatchforex]

Thanks. And if looking to re-enter the trade, wait for a re-test of the level for confirmation of the move.

No, I wait for another setup, keep it simple.

[purplepatchforex]

Here’s a channel, I’ll be looking to short from the top trendline, and remember only if you see either one of the entries I’ve shown above, like a painting by numbers method.

EDIT:
The black trendline I dont have on my chart, that’s for illustration, that’s the ‘average price’ if you like and the purple lines are the deviations, it’s a bit like manual Bollinger band trading using trendiness.

Ok, it looks like there is support there, there could be, we could be going up from 1.3000, but that doesn’t concern me, like I say you can analyse 'till the cows come home and you could still be wrong, or more likely, the market might change, your analysis might be 100% correct, but that don’t mean your trade will work out, using simple trendlines and S/R, confluence is enough to get good entries and enough of a high probability to make a decent profit without the headaches and the ‘hard work’, ok, some will say it’s not hard work, well it may or it may not be, but I dont care, this is simple, easy for others to understand and it makes money.

A simple price action strategy that works.

I was recently looking for material that would confirm my strategy, I found it in the form of Candlestick Trading for Dummies (dont bother with the jokes), half the book is not worth reading for an experienced trader, but there is some good stuff in it, it’s too easy to dismiss it just because of the ‘For Dummies’ title.

[Dominator4fx]

Here’s a channel, I’ll be looking to short from the top trendline, and remember only if you see either one of the entries I’ve shown above, like a painting by numbers method.

EDIT:
The black trendline I dont have on my chart, that’s for illustration, that’s the ‘average price’ if you like and the purple lines are the deviations, it’s a bit like manual Bollinger band trading using trendiness.

Ok, it looks like there is support there, there could be, we could be going up from 1.3000, but that doesn’t concern me, like I say you can analyse 'till the cows come home and you could still be wrong, or more likely, the market might change, your analysis might be 100% correct, but that don’t mean your trade will work out, using simple trendlines and S/R, confluence is enough to get good entries and enough of a high probability to make a decent profit without the headaches and the ‘hard work’, ok, some will say it’s not hard work, well it may or it may not be, but I dont care, this is simple, easy for others to understand and it makes money.

A simple price action strategy that works.

I was recently looking for material that would confirm my strategy, I found it in the form of Candlestick Trading for Dummies (dont bother with the jokes), half the book is not worth reading for an experienced trader, but there is some good stuff in it, it’s too easy to dismiss it just because of the ‘For Dummies’ title.

Trend line formations depend on the increasing or decreasing demands for a particular currency and the most widely used method of identifying them is the use of the Japanese Candle sticks method of trading.

[rupeetrader]

Here’s another one.

A) Do you see that price can’t close higher than the area I’ve marked? (same area we talked about in the previous picture). It just gets rejected, see the pins?

B) I also drew a small trendline between the two highest points, just to give more confirmation.

C) You see that price doesn’t get past that green area nor the trendline. I entered this trade on the bearish candle close. This trade was taken solely off of Price Action.

D) Price entering the 50-61.8 fibs and is rejected with pins. It didn’t go as far as I hoped but that was enough to close this trade.

Simple enough?

Hi Danny K

thank you for sharing your experience on VSA. I am finding it much informative and interesting as I am not a big fan of fancy indicators. As i was looking at your above chart i figured out I couldn’t get the exact fib levels as yours for some reason. I read your reply to mario777 on page 3 that Fib levels need to be moved consistently but after trying everything i was still unable to get the levels as yours.could you please explain what highs and lows you used in the above example.

Many thanks

[Nikitafx]

Here’s a channel, I’ll be looking to short from the top trendline, and remember only if you see either one of the entries I’ve shown above, like a painting by numbers method.

EDIT:
The black trendline I dont have on my chart, that’s for illustration, that’s the ‘average price’ if you like and the purple lines are the deviations, it’s a bit like manual Bollinger band trading using trendiness.

Ok, it looks like there is support there, there could be, we could be going up from 1.3000, but that doesn’t concern me, like I say you can analyse 'till the cows come home and you could still be wrong, or more likely, the market might change, your analysis might be 100% correct, but that don’t mean your trade will work out, using simple trendlines and S/R, confluence is enough to get good entries and enough of a high probability to make a decent profit without the headaches and the ‘hard work’, ok, some will say it’s not hard work, well it may or it may not be, but I dont care, this is simple, easy for others to understand and it makes money.

A simple price action strategy that works.

I was recently looking for material that would confirm my strategy, I found it in the form of Candlestick Trading for Dummies (dont bother with the jokes), half the book is not worth reading for an experienced trader, but there is some good stuff in it, it’s too easy to dismiss it just because of the ‘For Dummies’ title.

Do you refer to higher time frame for directions and take trades that form in the direction of higher TF or do you take both buys and sells as long as they form around trendlines or S&R areas?

Do you use anything higher than min 15?

[purplepatchforex]

Do you refer to higher time frame for directions and take trades that form in the direction of higher TF or do you take both buys and sells as long as they form around trendlines or S&R areas?

Do you use anything higher than min 15?

No, never, but my screen is 1900 px wide, so I get nearly twice as much width as I used, which is part of the reason why I dont bother with the higher timeframes.

[Danny_K]

May I ask if you use moving averages and pivot points and if not why.

Regards

Finjoman

No I don’t use them, I don’t trust them… I rely on my eye for direction and my hand for S/R lines

[Danny_K]

Hi Danny K

thank you for sharing your experience on VSA. I am finding it much informative and interesting as I am not a big fan of fancy indicators. As i was looking at your above chart i figured out I couldn’t get the exact fib levels as yours for some reason. I read your reply to mario777 on page 3 that Fib levels need to be moved consistently but after trying everything i was still unable to get the levels as yours.could you please explain what highs and lows you used in the above example.

Many thanks

I drew from 1.3156 to 1.3269. I hope that helps!

[purplepatchforex]

Here’s a trade I’m in, the middle trendline is there for illustration, the confluence with the S/R.

Not the greatest of entries, they are always better at the top or bottom trendline, but the candlestick entry matches my second pattern, and it’s with trend.

EDIT: Hah, and as I posted, it took my Stop, no problem, just wait for another setup.

[purplepatchforex]

I’m looking at a potential entry right now, and one later.

[purplepatchforex]

Well, if that wasn’t pinpointing an entry, anyone else short from there?

[mario777]

I thought this thread is for VSA and price action? :31:

[mario777]

Here’s a trade I’m in, the middle trendline is there for illustration, the confluence with the S/R.

Not the greatest of entries, they are always better at the top or bottom trendline, but the candlestick entry matches my second pattern, and it’s with trend.

EDIT: Hah, and as I posted, it took my Stop, no problem, just wait for another setup.

with due respect, the original post by DannyK is for VSA and price action with fib. I hope this is not hijacking DannyK’s thread. Are we not supposed to post the same topics/strategy for us to learn and not your own strategy which I think is completely different from the original topic?

[Dominator4fx]

with due respect, the original post by DannyK is for VSA and price action with fib. I hope this is not hijacking DannyK’s thread. Are we not supposed to post the same topics/strategy for us to learn and not your own strategy which I think is completely different from the original topic?

Using the Price Action along withe the Fibo levels is a good system that gives us some good trading setups as i have used them myself when trading Euro

[purplepatchforex]

with due respect, the original post by DannyK is for VSA and price action with fib. I hope this is not hijacking DannyK’s thread. Are we not supposed to post the same topics/strategy for us to learn and not your own strategy which I think is completely different from the original topic?

With respect, I think Danny can speak for himself don’t you?

[mario777]

With respect, I think Danny can speak for himself don’t you?

of course but where is the VSA in your examples?
I have read the same thread for years people keep changing the original topics by posting their own strategy not related. Why not start your own thread and I will follow you there, Thanks.