This is where we’ll have to disagree I guess. I see strength all over that. Looks like the longs took a break when selling pressure came along, making sure to buy at natural support levels.
Long EUR/USD
1 HR:
Entered at the pivot, high volume candle has a reversal near the pivot and the reversal zone, then a lower volume candle pierces it, with another lower volume candle to test for continued selling pressure.
Also, Short USD/CHF. This trade looks even better. It similarly is entering the extreme end of the reversal zone, but this one actually touches the pivot on high volume, then touches the 38.2 fib and reverses on even higher volume.
This trade is higher confidence for me.
Traders don’t want to be long USD/CHF right now but they were forced into it by the SNB’s actions. You could see in the EUR/CHF and GBP/CHF pairs on the daily that they looked like they were topping out with the dojis near resistance. And Luiz’s chart shows USD/CHF starting to absorb buying in those areas making it look nice technically for a short. Only problem was the SNB potentially hauling out their big stick again to beat up those taking that trade. But once SNB / Economic Minister came out pretty tepidly about intervening in the market yesterday this gave traders the green light to start piling into going long CHF again.
If you’re trading Swissy at the moment you have to have half an eye on the fundamentals (basically SNB actions only) if you’re to keep your risk at a lower level as they’re a potentially a very important driver for this pair at the moment. Based off the technicals and fundamentals at the moment I’d say your short looks good though keep an ear open to what the SNB are saying / doing. If they’re saying nothing that’s probably a green light to stay in the trade and keep riding it down.
I’m long in E/U too, altho I don’t like to pick bottoms like this usually. Anyways, could you please explain how do you determine your “reversal” zone? I can see you don’t wait for any confirmation so you are probably pretty sure about it.
I’m also long in E/U, just a question as I’m still learning, Where have you put your TP and SL?
USD/CHF hit TP for +100
EUR/USD hit SL
As I stated at the time of the trade, USD/CHF looked like a much stronger trade. This is why I like trading more than one pair, instead of limiting myself to EUR/USD only. It gives you the flexibility to choose the pair that looks best, even when they both seem to be in the same situation.
I usually would have just picked USD/CHF and that’s it, but the uncertainty with that pair caused me to diversify a bit. That might not be necessary in the future.
Where would you put EUR/USD at the moment? It has bounced off of the weekly support 2 level, would this be a point where buyers would come in and bring it up again or what’s going on at the moment? Sorry if this is kinda newbie question 
Thanks.
Just got in from work. Nice trade Dodge! Nice entry on No Demand!
Hope that makes you feel better. Yeh!
Looks to me like ACBs are holding up the decline in E/U. They’ve been active buyers in the 1.4260 region for the past couple of weeks and they turned up there again this morning. Can see it on a 5m chart all morning and now volume is picking up on an upswing. Probably going to be offers at around 1.4315-20 and more up at 1.4350. If 1.4350 goes stops will get tripped. On the downside there’ll be some stops below 1.4250 if the morning level can’t hold. Probably wouldn’t see some buyers again until 1.4215-20 with more buyers down at the round number most likely.
Thank you PipBandit, appreciate it!
Hmm… Price went over my TP but my broker didn’t close my position 
Now looking at drawdown…
I’m still in E/U long with SL at 1.4235 and TP at 1.4409… I will close more than half of my position at 1.4330 tho…
Right now I’m +6 pips. Which is avarege of several position I was adding up as the price dropped lower and lower… Kinda crazy I think… I believe it is called “Scaling into losing position” :58:
I’m long from 1.4235. Looks like buyers have emerged possibly. Going to be sellers at 1.4260 which is former support probably going to turn resistance. If that holds I’ll just close out.
Edit: Closed half at 1.4258 - stop to B/E and leaving the rest to run.
Hi,
I have also gone long on the EUR/USD. in hindsight, maybe 15 minutes early but I thought I did see the no supply and took the trade on the close above it. It just had a proper no supply test and following candle close above, so maybe the right entry is now. Anyway, 11 pips up and I believe this will go up for a fair bit. Might take some profit and lock in BE when it gets to 1.4274, an initial profit then of 29 pips??
Let it run BP, could be a few hundred pips more 
Big loss for me… I should really stop counter-trend trading the euro 
Was tempted but with NFPs lottery coming up tomorrow and a US holiday on the Monday I decided to close out the second half at 1.4282.
Hey guys. Ill try to keep this short and quick. Thanks for everything you all have shared.
Have devoted almost every available waking moment to educate myself since Jan., and found and started focusing on VSA in March. Started trading with pennies in April. Have increased that to 4 micro lots, two seperate trades, to try to get use to the emotions involved.
Have read many threads and watched many videos. This thread has made everything come together and gave me that “click” you get when you finally get something. But it seems understanding the concepts of vsa and trading it profitably are two different things. This thread has solved so many of my problems. Like being able to see acc. and distr., and I also had a problem buying into weakness when I see low volume down bars that turns into a double top, or selling into a double bottom.
The real problem with me is I’m not trading by a plan, and thats the main thing holding me back. Im good at keeping the rules I do have like 4 micro lots max and if the stop is gonna be more than 30-35 pips I dont get in, or if the setup is good enough I’ll get in and reduce my size.
Basically I’m wondering how you guys put a plan together that says more than, “buy and sell when volume, spread, and close tell me too.” After my big “Ahah!” moment, on several hang ups, I had high hopes for this past week. Ended up taking 28 trades for a total of -0.9%. I need less trades. Some trades I was just early on, others were bad setups that I thought were good at the time. I need to make a plan for consistent profitable trades. I’m down 8.82% since April, and I’m ready to make the commitment to disciplined trading. I take a lot of trades just based off what “should” happen, or has happened in the same situation in the past. VSA has so much discretion involved, it seems its so easy to make the case to take a trade.
Another issue I’m having, how often does weakness end up being absorption volume? Sometimes its obviously weakness and Ill go ahead and exit completely. Other times I will wait and see if its absorption or not, and by the time you see that one candle that anwers it you lose much of your profit. I’m just wondering if absorption is rare enough to just go ahead and take all profit when you see weakness and just miss out on the times that it is absorption.
Also, does absorption usually happen underneath the old top, or right in line with the old top? I know this isnt going to be an exact thing, but just in probabilities. If I see weakness above the old top I get out immediately.
I’m very suprised to see us back under 1.4200 this week. I see so much accumulation above us between 4250-4380, and the distribution up top isnt even close to the acc. on bottom. I figured on a retrace to 4400 and then on to 4600 or so. Also, it seems like the news traders would have bought up euros on the bad nfp numbers. Which means smart money sold into them at such low prices. I don’t understand this, unless they plan on taking it below 4050 to shake them out before they take it up to distribute. Or the guys accumulating above us just got it wrong.
Anyways, I knew I would end up rambling. Well any advice you offer me is much appreciated, even its just to read the thread again. Which I’m already doing
I don’t think that’s rambling that’s a pretty good comprehensive description of where you are at I’d say, the best advice I can give you is just to stick at it, it looks like you’re coming along pretty good. Personally I use the 15m chart and almost exclusively trade trend continuation setups on low volume, I find them the easiest to spot and the most profitable, but those have been rare as hen’s teeth this week.
But mainly just stick at it, you’ll get some great advice from great traders here, and you’ll also get great advice from not so good traders too!
Lately I realized that all of my losing trades were when I tried to pick bottom or top. Now I focus only on trend continuations confirmed with high volume candle (ie selling climax in uptrend, buying climax in down trend)… It is far more reliable then trend reversal trades.
It’s what it says in the book ‘Master The Markets’ - Trade with the trend - Simples
Not to be confused with -
(Master the Meerkat)