I caught a little cold so I slept late today…and feeling much better now. Dodge, Enpoint holding it down. 
Like gravity baby!
That’s a very old post. Not sure how much of the thread you’ve read so far, but since it’s so long I would recommend just reading the second half. You will find the answers. If you still have specific questions, fell free to ask.
I was specifically waiting for a low volume candle to go short here, but unfortunately I was distracted and had to move away from the chart for a few minutes.
I can’t say exactly where my exit would’ve been on this trade, (I may have exited at the pivot point) but I am 100% sure I would’ve gone short here
I personally would not have shorted there. There are high volume wide spread down bars that built a support. (stopping volume, demand) Yeah it may go lower, but professional buying/profit taking did go on there…the bottom is near.
Just took a quick scalp here. Low volume showing no interest in the up move. Had a 5 pip SL and got out at +7.
I may be over-trading now…
I never argue with profit, do what works for you…but perhaps it’s best to have the posts in here show the more traditional setups.
Nice! What’s your Risk:Reward ratio looking like while trading like this? I’ve always been wary of this trading style as I could never get a respectable Risk:Reward ratio.
I see your point, do the recent candles change your mind at all? I’m still very bearish, looking for volume to come in on the 50-61.8 fib area here. It’s getting late in the day, so an entry seems unlikely, but I’m watching!
While it was bouncing off the 23.6 fib instead of the 61.8 fib, I definitely considered it a traditional VSA/FIB trade. I got out at +7 because I saw price stalling, I would’ve loved to stay in longer Many of my earlier trades had similarly tight Stop Losses, and I know EnPoint (at least before today) was trading with tight stop losses as well.
In any case, I get your point. I’ll stick to the more reliable setups for this thread.
Right now for me it’s all about the testing and reaction to 1.3380 area, major support this week and last week. So far we’ve seen high volume, wide spread down bars on the 1hr as it gets closer. Since it is pretty late in the day, it could be a great long for Monday…if demand continues to show up.
As far as that fib, sure if you see redistribution/weakness on high volume there, you’ll probably catch the swing high for the final move down to test that support. My only issue is that SM is no longer near any sort of distribution phase, and with demand showing up, it’s just too late to short this leg.
Just had to go messing with U/J eh? LOL. Actually, today it gave a picture perfect long on 1hr off fibb…but no thanks.
Generally 1:2+ but about 1:4 right now on E/U … All other pairs are 1:2 for the most part. It helps to diversify my money management as many of my VSA setups are at just about 1:1
Lol it was more a basket trade for JPY quote pairs as all had similar 4hr pinbar setups. Stupid u/j!
I’d would have to ahree
Hey guys, I’m still checking out this perfect thread… It’s nice to have you back Pete. I think seeing this thread alive after such a long time is a great proof of how great this thread may be if you can absorb some of the information.
I’ve had a little problem with understadning yall’s setups lately. I will try to keep it short and simple…
It seems, that there are two ways to use VSA in fibb reversal trading. Pete looks for high volume candles with long wicks near fibb reversal line to show that people are taking profits and going short and it’s a signal for going short.
But Dodge usually looks for LOW volume candles to show there is no interest in going higher -> signal for going short.
Could anyone briefly clarify these two different kind of VSA setups and how come they both work? It would be greatly appreciated.
Oy
Well… First, if theres an increase in volume at these areas, it shows that there is some interest and its possible to take agressive entries there based on the stopping volume. But price will usually move and come back to these areas on low volume showing no demand to the upside and indicating that volume was indeed selling, provided it doesnt break the high of that bar.
Typing from the phone takes forever lol
I can’t speak for Dodge, but here’s the standard approach with volume on reversals at a 50-61.8 fib or S/R.
First comes the high volume reaction to the initial test. More activity in the market at a s/r level that doesn’t break is a sign of orders coming in in the opposite direction, otherwise it would have just broken the s/r.
In the case of an up move, it would be stopped on high volume and pull back a bit. THEN comes the no demand test, meaning after that high volume and initial reactive move down, a small up candle on low volume that is followed by lower prices. This shows finally the LACK of demand and would be on low volume. That’s the cue to enter the short for most VSA traders.
And yet you beat me by 4 mins lol.
We had 8 hrs to reply tho lmao… BP is horrible with the new replies notifications lol