And GU just shot through the last high. Didn’t have a clear signal though. EU should go very shortly, currently 1.38923
Trade with the trend, it’s what Tom Williams makes point of in Master the Markets, ok some here are very adept at counter trend trading by identifying thrusts, but if you stick to the with trend trades, you will suffer less losses while you are learning, and also you will learn more, and gain more confidence stick to one type of trade first and then learn the setups for that, it’s the easy trap to fall into with forex, trying everything, so much better to learn one thing then learn some more, that’s what we do with everything else!
P.S. setups still are rare as hens teeth on my 15m setups on the EURUSD, but that’s all part of trading, a very valid point was made on another thread earlier in that you might even stay out of the market for weeks, with some strategies.
Dodge obviously switches to another pair when he can’t see anything to his liking, but that’s only for experienced traders, for newbies it’s likely to confuse you.
I’ve always tried to stay away from the news as I’ve heard the term “If you don’t read the news you are uninformed. If you read the news you are missinformed” many times.
Good point there Purple. But after this move I saw what appeared to be alot of stopping volume and would not hesitate to look for a short there (with my limited knowlegde), I use SpotTrader for volume and I had insanely high volume so this felt really obvious to me, but then when I looked at another broker this type of volume did not exist. Which broker do you use for volume?
Still damn frustrated about getting stopped out right before this nice move! :28:
Well, that’s a little debate in itself, I use MBTrading, but that’s because it gives me the best ‘signals’ for the setups I trade!
Basically the peaks and troughs are in the same places, but the lowest trough on one might not be the lowest on the other, that’s the reason I use MBtrading, I did specific research for which volumes would be the most useful for my specific strategy. - Never a simple answer in forex!
Okey, thanks!
This is what I got, doens’t that get you to react? :o
Always easy in hindsight, but I think that’s push volume which will break through resistance.
I believe you 
How long have you been trading, if you dont mind me asking?
Happened to me a lot of time. 1, 2 pips below SLs then reversal, that’s the SM’s little stophunt in play
The important thing is, this kind of thing happen to everyone, so, it’s important to stay calm afterwards, don’t jump the guns, don’t catch the falling knife,… because it’s very frustrated afterwards, then the psychological aspect of trading comes into plays. Wait for the set-up and trade with proper MM.
I think the SM footprint for this one was the bar marked with the red arrow. This was a play off a previous top that price had pushed thru. Nice volume increase with the following bar for confirmation of buying. It was an aggressive entry with a tight stop and I was stopped out at first. But I strongly believed in my analysis and got right back in.
That other entry was a play off londons high. Not too vsa related.
That’s where I entered too. Good job re-entering
Be careful about that… Something you call “insanely” high volume, might be misleading. If the volume is way to extreme, it means that something wrong is with the market. (some kind of strange manipulation like today’s markup) and it’s usually better to stay out. Also, when lookin for climax, try look for them where they SHOULD appear (new high/low)… Don’t look for a tiger in Antarctida.
over 4 years!
This is such an important point, the volume information has to be combined with SR levels.
Also in the same context…ish, different VSA setups work better/worse on different timeframes.
Thanks, made things a little clearer for me
Long USD/CAD
SL Hit
This trade had no chance. Both the GBP/USD and EUR/USD trades I was considering at the same time would have hit TP. In hindsight, I should have been scared away from this trade by the warning candle pointed out below.
Short EUR/USD
Hi All,
I’m new to forex but I understand most elements of trading etc. I know it’s late in the thread for basic questions, but I would like to verify my understanding of volumes.
I have opened a demo account with oanda europe using mt4. I have enabled the volumes that comes as standard and I think the quality of this is OK.
Now, am I right in thinking if I start the day plotting S/R levels from say D1, H4 and H1 together with any trend line appropriate and watch the H1 chart for price to reach one of the said lines. Watch price action around those lines together with volumes to decide which way to trade. Also forgot fib retarcements.?
Also when market is ranging (accumulation/distribution) am I right in thinking when distribution is taking place I would expect to see more volumes towards the top of the range and less volumes towards the bottom? and vice versa for accumulation?
I have read the two pdf’s and am up to page 40 of this thread butam just checking I am on the right side of my learning curve.
Thanks for any advice.
You are well on your way, young grasshoper! lol
At the end of every week, I delete all my S/R lines and start monday with a naked chart and start plotting from there. And you are correct about acc/dist. Over time, you’ll develop a work flow.
Couldn’t post these trades earlier as BP was acting fishy.
Stopped out on the first upthrust. Took the second larger one. 50+
Took another short on a squat-ish type bar. 20+
