I would suggest sticking to EUR/USD and GBP/USD because they are easier to read due to the liquidity and more people here will be able to critique your charts.
2ProCrast: I see what you mean. However there is no reason why VSA wouldnt work on those pairs too.
Sure, it just takes a significant amount of screen time to orient yourself to a new pair.
Since Iām not trading at the moment, know what I did for ****s and giggles this weekend? Read through this whole thread again. I find myself wanting to watch stuff related to VSA but have realized Iāve seen everything and donāt really wanna pay for Gavinās stuff. Its funny because I already got this down pat but I just wanna keep learning. IāM SO ADDICTED!
It was also nice to see everyoneās growth through their posts.
Possible no supply on this downtrend? EU/USD 5 min
Who knows, but I know what Iām going to do - wait for it to pull back, and a low volume and go short.
And thatās exactly what happened and exactly what I did :-
I donāt think any more needs to be said!
Hey guys, I also took that short on EUR/USD for about 40 pips. Could have got more, but my exit strategy was not very good. Anyways, Im not sure whatās this pair gonna do now. Only thing I can imagine is followingā¦ Bounce from the fib level, also oversold zone of my channel. I am still waiting for confirmation, I am not gonna take a conter-trending trade. What do you think?
VSA on 4Hr chart, never seen it before, Iām not sure if it will work at all.
Iād consider H4 volume as almost useless, because that is highly correlated with a half session window. If you look at those volume bars, they repeat in almost the same pattern over and over again every day with low volume at the last Asian volume bar and highest volume at London open.
Thank you, I didnt know that. I used the H4 mainly to determine the fibs. If you look at H1 you can see some pins and stopping volume too.
Thank you Buckscoder, makes perfect sense.
My pleasure!
I was trying to use volume for another strat the same way and then I recognized that regarding H4.
Anybody looking at the potential long opportunity on GU tonight (PST)?
Iām not absolutely no way, 2 reasons, for me itās not a with trend trade and interest rate announcement at 12PM GMT, Iāve been burnt too many times trading the GBPUSD with the rate announcement, EURUSD not as bad, but still very wary.
vsa can be traded on 4h chart as well, we notice things whenever thereās high volume but 1h tf offers the best for looking at general picture.
4h chart eu
We focus on the area of high volume being tested.
If you look at your chart with some open eyes you can clearly see that volume is a no info right there on H4. Just cycling every 6 bars, which is a day. Clearly session related.
True to a degree.
But look at the divergence factor.
Dropping price, rising volume. Rising price, and falling volume;)
I donāt think the rate announcement had any significant impact as I think it was largely anticipated by the market and therefore already factored in the price (although we are never immune to a āsurpriseā or erratic moves made by smart money). Depending on how you use VSA, it can be used for trend following and/or trend reversal. I like to try to spot trend reversal, even though it is much more difficult (but more rewarding when right!). I still believe that on this pair, we have seen lots of accumulation over the past few days and I wouldnāt be surprised if we see tonight, tomorrow or early next week the GU to go up significantly. I havenāt yet spotted the right moment to go long. Itās all about patience! Weāll seeā¦
Right, if you compare that to other volumes of other days and not just two neighbor bars on H4. That way you would anyways probably better doing it via daily volume bars, because itās easier?
I donāt want any confusion for people who are reading the thread to quickly disregard anything. Anyone has their own chart reading and understanding. But for this matter, i think Pete and Enpoint could give you some insight.
Thereāre people who look at 8h, 12h,ā¦ tf because market is fractal, itās true on any tf, just how much detail does its tf offers.
The 4h volume Iām marking is the highest one in its region compared to its 4h candle of las few previous days.