Ok now I just finished reading the entire thread, and most of my questions were answered in advance in previous posts, that’s what you get when you’re lazy enough not to read all the information, lol.
By looking at your examples and by looking at my current charts, I see how volume is also a great tool to determine market flow/trend direction. Really nice.
I recall you asked me in a previous post how I determine my key levels, and I answered it was related to ICT concepts, well now I see how you’ve been doing kind of the same job here for a long time now. It’s fun how you have valuable information in your hands and you just don’t know how to handle it.
I’ve been a lurker for some time now in this thread, but I didn’t really get the idea of what you were showing. I guess it was not my time then, lol. But I think same thing happens with lots of readers that like myself, come by and try to catch up without success for some time.
I still have half Master the Markets left to read, but I must say that reading the thread has helped me understand some ideas that I didn’t find pretty clear in the book.
Well I just wanted to say that, and to thank you for your positive and kind attitude towards my never ending questions.
Just ignore the TG software sales pitch. It’s expensive, and not worth it imo.
I don’t think they did a very good job with applying VSA to forex, with their software…so that’s something I had to discover myself, and with the help of a few others.
Here is some material from Wyckoff also: Wyckoff pdf
Just keep in mind they aren’t talking about forex, and there are some differences…but the idea is to understand how the money that moves the market thinks and operates. It’s quite different from popular systems that most people trade, to say the least. Enjoy!
PTB has described the book earlier in his post. Its exactly what I was looking to study. I kind don’t comfortable “to trade in the dark”
Please take a look at my chart. I did 3 entries as you can see.
The problem is how to recognize if there is trend reversal or its retracement move only? What do you think about my entries? It was kind scary to go long as PA of daily chart is downtrending (from my observation)
will you continue to post your charts with your detailed explanation?
Great chart! Certainly looks like you are understanding things.
Notice on that last trade, where you pointed out that the buyers are strong…have you seen the chart now? 100 pip up move. That was the perfect setup…very high volume to stop the down move, double bottom pins…and up she goes.
When you’re looking for that true reversal point, look for confulence of s/r. You might want to add pivots and murry math levels to your chart, and some basic trend lines and fibbs to find those areas of confluence. Higher vlm pins are what we look for…but if its not near an important s/r level, then it’s not an entry for me. S/R…that’s where the key turning points are…that’s where you discover the true intention of smart money.
Volume and price action kept me away from the breakouts, but also kept me away from the retrace.
Once I had my confirmation (high volume, pin bar) price was 22 pips away from my entry point. It bounce back up a little, but not enough for me to consider an entry with a good rrr.
Pete, how do you manage your entries and stops? In this case a stop above the wick would have been a good one? Or what other options do I have to manage the trade?
thanks petefader, its nice to hear
yes, I have seen 100 pips up move even more!
If the higher volume pin is near SR its likely to trend reversal. If its elsewhere on the chart its probably only price retracement and in such case I can use the fibs for new orders? right?
I was looking for pivots and murry math levels in my MT4 platform but I dont have any unless they under the different names? I did SR lines myself.
Also I did short entry at high volume pin near blue resistance line, but I am not sure If I was correctly? what trading strategy near such levels?
here is my chart
what do you usually use in your charts like murry math levels or pivots or may be anything else ?
Couple days ago I did short entry at high volume pin near blue resistance line following your rules. Then I drew SR based on high volume bars.
It looks like was a good set up also. I hope the price will reach 0.9120 or lower as there is downtrend at this time
Here is my chart
petefader, in you post #25 you talk about accumilation would you mind to show some examples of such accumilation please??
Thank you for sharing, Pete. Hope you are still around. I am one of those who has just finished the entire thread. I hope to learn more from you and others who have picked up VSA and are also contributing. Cheers!
Hi istone. Glad you are finding this thread usefull. Yes, I’m still around but I don’t have much time to trade since I’m recording an album at the moment (I’m also a music producer). BUT, I am still trading.
[B]I’ll be looking for “set it and forget” it trades, mainly on E/U, using this system…vsa/fibb/sr, so I figure I’ll post them in here ahead of time.[/B] You all can follow along, ask questions and trade along with me. But of course, trade at your own risk.
I think this will be helpfull…to do some more realtime trade setups. I’ll post shortly.
Continuing to look for longs, we have confluence of support as the lower trend line meets .50/61.8 fibb. I’m still at the computer for now, so I dont have to set it and forget it yet. I will look at the reaction if price can get to my buy area…higher volume and pins there for the long.
eurusd will probably trade a tight range this week, then stall bellow 1.25 before resuming the downtrend. wait for a short entry instead. Also long gbpusd looks a lot better.
So, anytime now, it will break out to complete the first wave 3. Im thinking that it could get as low as 1.11 soon. I hope this makes sense, or am I just babbling like an idiot?
I see what you mean. It could very well turn back down at 61.8%…a level that has to be respected as strong s/r, although I don’t count waves. My buy area is far enough away from there, I’m only looking for 30 to 70 pips on these trades.
