Does this strategy have a pdf or manual?
First post.
All of the high volume bars are on new lows, either on the 50 fib or in the 50 fib to 61.8 fib zone. It never really breaks this line, despite the higher volume candles. Recent low volume candles show no selling pressure.
I just entered long.
EUR/USD 5 minute chart
EUR/USD 1 hour chart
Closed half at about +35. Stop set to BE + 1.
Glad too see things are still going in here! (warm fuzzy feeling).
TP Hit.
That’ll be the brandy.
thanks for keep posting dodge
I want to ask you why are those candles blue ?
A blue candle indicates the volume of that candle is the lowest in the last 20 candles. I’m using the BetterVolume ChartBars indicator, it paints the BetterVolume lines directly on the candle. I then programmed a Prowl alert to notify me via cell phone when one of the lines appear on the chart.
You can find the indicators here:
Trade Using VSA (Volume Spread Analysis) - Page 56 @ Forex Factory
Thank you again realy apreciate.
Analysis for the upcoming session:
EUR/USD Daily chart shows we’re hitting the top of a long-term trend line.
High volume wicks on the 1 hour chart confirm this might be a hard line to break, as a new Resistance Zone seems to have formed directly on and above the trend line. This gives us the first possible sign of distribution since the large volume candles showing strength for the past few days. However, there seemed to be a small spike in volume bouncing off the 1 hour trend line in the beginning hours of today, which may indicate continued buying pressure.
I’ll wait to see how price reacts around these zones before going in today, as I’m seeing both buying and selling pressure.
Thanks for your analysis Dodge, much appreciated for the apprentice (me)
Regards
Stephen
For some reason, the USD on all pairs is tanking hard right now, but AUD/USD shows the USD strengthening?
I saw stopping volume on a failed attempt to push past the pivot/50 fib and went long.
It’s the ripple effect from the Swiss communication in relation to there being no peg for the moment. The big Eur/Chf, Gbp/Chf, Usd/Chf dip dragged down Eur and Gbp to attractive prices for traders who have a long bias as can be seen in the recent trend.
Update
Analysis:
This came up on the EUR/USD 5 minute candle right after my AUD/USD entry. Would have been a better entry than my trade.
Update:
Saw this trade earlier on the GBP/USD.
Entered at the close of the vertical line up bar.
At the moment I am 28 pips up on a long.