Sounds good, might switch to them in the near future then
When I sat down this morning I made up my mind pretty quick that weâre going short this morning on E/U. After that double top showed up I was about to enter short but something stopped me and I was thinking about waiting for a no demand to show up. Then I chickened out when this appeared⌠Was this really something to be chickened out of?
Hey SagiCZ!
What are the dotted things around your bars? Some type of indicator?
On conservative ND entries, price should go in your direction almost immediately. I saw that the next bar went back into that area of ND. Should use that as a signal to get out. Then start placing orders below the NDâs on the way back up.
Yea, I woulda stayed outta that. Looks like strength creeping in which was later confirmed with that widespread bar down and then price going back up. While much of the background is still weakness, you coulda made an entry just of the merits of that but if you planned a tight stop then that wouldnât have been a good entry.
A clean, low volume test at 1.36 E/U can provide a nice short term long, but overall, this might be someone trying to get a better price for a short for the consumer confidence report.
Closed
Guess I did some kind of a right decission anyway then, even though my SL would not have been hit But I guess it would have been a scary trade to be in.
2Enpoint:
Thank you sir! Still learning. I see watch you mean :).
2Danny K:
Itâs one of my heavily customized VSA signal indicators for MT4. It shows no demands, shakeouts, climaxes, reversal etc⌠Not that very useful if you ask me. If you are beginning with VSA, this indicator could confuse you a lot. It makes mistakes sometimes. Not something you could count on.
Short EUR/USD
1HR
5min
Wasnât that a bit early to enter? Would you like to explain your reasoning behind it? Also where do you put your SL and TP on an entry like this? Over the 61.8 fibb or over the recent high, or even higher?
Hi Dodge,
Newbie question hereâŚWhy have you used the fib on the wave from the 21st for today instead of the last smaller wave made?
The 1HR chart showed high volume candles signifying selling pressure. They were right on the 61.8 fib, making the sign even stronger.
On the 5 minute chart I saw the largest volume candle of the day appear on a very compressed candle, reaching into new highs.
A compressed high volume candle on new recent highs, combined with strong long-term selling pressure will always be a good entry in my book. This trade ended in a loss, price wanted to go up a bit more before falling, but Iâll take this trade everytime.
I wonât spoil it by divulging what my SL was, but I will say the best thing about these trades is it allows for a very short SL, resulting in a very good Risk/Reward ratio.
My trade was based on selling pressure on the 1HR chart bouncing off the 61.8 fib, so itâs important for me to see how the market reacts to the other fibs associated with that.
Rumors of my death have been greatly exaggerated.
So as it goesâŚhigh volume at fib test and Iâll look for a short entry on the 5min.
LOL
Thatâs very familiar chart Good to see it again
Nope, the volume didnât pick up enough. Was hoping for a pre London entryâŚoff to bed.
Some things never change.
Hi pete av joined babypips just to follow you av read all your posts and its amazing am glad u dint stop posting when people attacked pls dont atleats for me
i have read vsa several times and am glad theres a clear system or is it method? that i can follow thats fibs and s/r
am watching eu and exactly at 61.8 fib test the pair is going down am in gmt+3 so i may not be able to fully grasp ur trades but thenx soo much good to see ur still around since u joined in 2008 by then i dint even know what fx is .
a question how do i time the sell in 5min chart?
Short EUR/USD
Unable to break the 61.8 fib, high volume in the reversal zone of the last few days, unable to break that either. Low volume candle confirms waning buying pressure.