Guys please give me a hand. Is this mark down ?
Yes, and the markup before it was not a healthy one. Those wide spread, hi vol candles are easily reversed.
Once distribution was shown at the top, and no demand (shown on smaller TFs), there was a short setup which I tookā¦ 1.3794 12:20 GMT
5 min now shows that itās hitting some demand at Tues low. I would wait for up move/distribution before shorting.
I took the short today after the clear fake up-moveā¦
Now doing this ->
I know this is not a perfect time to trade but I think I chase the market. Well I am on demo so I try to get more experience.
I opened a short at 1.3721 on EURUSD
The first mark is a stopping volume, the second is a no demand candle. (I know this is not VSA but I also saw a bearish divergence on 5 min)
Any suggestion?
Thank you
Best Regards
With this kind of entry, you have to wait until the price breaks the opening price of the no-demand candle. Otherwise the no-demand is not confirmed. Also note, that this should happen in the couple next candles. If it takes too long to brake the low of the no-demand candle, it is not considered a valid entry.
In this case, you already now, that the price DID NOT break the low of the no-demand and later on went up. Iām glad you were on demo. :18:
Thank you for your answer.
Was the stopping volume valid in that case?
Wellā¦ I always thought āstopping volumeā is only āstoppingā a down move. In this case I would probably call it high volume up-thrust. And yes, it is a sign of weakness. But it wasnāt strong enough to reverse the move (there wasnāt enough selling, probably just some profit taking). There was no real resitance.
/EDIT: As I think about itā¦ At this volume I would probably close a LONG from earlierā¦ But wouldnāt open a short position. If you catch my driftā¦ :31:
Where can I find the plugin for metatrader 4 that shows the remaining time of the candle?
And also a plugin that shows when important news is coming out, I am not interested in what the news is but want to be aware of the time to look at the setup before and not have any surprises while trading.
I use also the daily pivot plugin of IBFX what I find usefull but would like one for the weekly and or monthly.
Thanks for all your efforts every body.
Thanks for the live show Peter, good stuff!!!
Any chance youāll be hosting another [B]free[/B] webinar in the near future?
Curt,
I use something called b-clock_modified, works as a charm. And I donāt have any news indicator but Oanda Java platform has exactly what you looking for. :54:
That would actually be a good title for [U]your[/U] book mate.
Didnāt trade todayā¦I just rolled out of bed and saw this. The first NS had 2 issues. There was no close above to confirmā¦you see what can happen if u dont waitā¦although some donāt. Also, it was too close to the bottom of that first stopping vol. I dont consider it a NS until it starts to trend up away from the bottom/stopping volume price area.
and, NS has to be a red candleā¦
[QUOTE=Danny K;287691]Here you go,
Thanks Danny K, let the force be with you
Hi Pete,
Iāve seen on your webinar yesterday that you can draw circles and squares on your charts, Iāve seen them next to your fibās and channel button in your IBFX M4 at the top of the chart but I donāt have them, I suppose itās a plugin or something. I want them so I can draw the supply and demand areas like you showed yesterday.
Thanks in advance.
Cool Pete! Iām kinda proud of myself as I was seeing this same setup as it occurred, everyone in chat said āItās gonna go down!ā And I was saying āNo itās gonna bounce!ā I guess this hard studying really starts to pay off 
Look at the top of your MT4 and press āInsertā and then āShapesā.
If you want them where Pete has them Right click on the panel where you choose the Fibonacci Retracements and select āCustomizeā¦ā then you just select the ones you want in the left panel and press āInsert ->ā then just close the window and youāre done!
Weāll do one next week.
DannyK, thanks for the helpfull posts.
pete you are the best teacher i have ever seen on earthā¦God bless you so much. pls annswer dis question plsā¦what of if you get a high volume and the the no supply comes up close to ur fibbsā¦50.0-68 retracement level do you still buy?
Hi Peter,
I saw that one as well. I didnāt trade it though as Iām still ironing out the newbie bugs but am happy I saw it. I drew out a fib line on the 1hr from 1.36556 to 1338074 and coloured the 50-61.8 area (1.37315 to 1.37139). We had wick in that area, but thatās all. Bounced right off it. Then I tried another fib between to see if it might reverse off that fib bounce but it pushed through it this time.
After that first fib reversal, I did look for a NS entry and found one @ 1030 (GMT+2), confirmed two candles later @ 1.37424. I would have put the loss at the 61.8 Fib @1.37145, a 27 pip S/L.
Obviously, this is all in hindsight as yes I did see it, but did not trade it (need more time alongside a mentor yet), but my problem now, even in hindsight would be where to look at TP. There was no drawdown at all on the trade, if I took it. A 20 pip trailing stop would have pushed the trade to 1.38789??? Peak of 1.38989.
A hypothetical profit of 136 pips on the move, % profit given 2% risk of 10% on that move, if not progressively closed out.
I am all ears if anyone can tell me I was correct or otherwise 
Kyle