Simple valid setup. 1hr is confirmed with hi vol upthrust, SL above high.
(Technically that buy climax is an upthrust.)
ah hahaha, how do you like that? It tested the top again, came within 10 pips of my stopā¦but got my first target now. Itās the support shown in the chart. You can see demand there. Anyway, half in the bank and locked BE. Demand showing up so who knowsā¦Iāll give it a chance to go further.
sweet - nice trade! what happened to the original red and blue indicators? do you not use those anymore?
Im a big fan!
Second target hit. (1hr 50 fib and lower trend line)
Nope, this method is bestā¦actually reading the market, not indies.
That trade had me worried for a while, but kept emotion at bay and let it run its course. Good setup and understood the short, so did have my fingers crossed for it to do what VSA said it would do. Once again, very early morning here so went to bed with all stops placed and the first TP level as my close out. Pulled a nice 32 pips out of it. Could have been quite a bit more, but trading is not my main source of income, so had to sleep before work in the morning 
Well done again Peter
Donāt know if it will go under that resistance at 1.59150
That didnāt go well. Hit my SL.
Look at the area where the price started to move up. It has been a major support area so I wouldnāt sell into itā¦
ā¦ Even though I donāt think the volume is high enough to really stop the down move just yet so a re-test should come. Probably going up to the 50-61.8 area
Keeping a hawk eye on E/U atm. High volume at 61.8 fib.
Hereās where we areā¦Monday markdown, Tuesday stopping vol/accum, Wed. failed Markup attempt due to high vol of supply. Todayā¦the old accum range is now distribution (or redistribution since we are coming from markdown). Reaction to yesterdays high now is crucial. Need to continue to see weakness up here to confirm distribution.
That short did not happen though. Keeping my patience. Highest volume of the day seen as price hit yesterdays high. :13:
I donāt like mess-upsā¦ :28:
Whatās your thought on this Pete?
Pete,
I noticed in the video you referenced the Automatic Rally after the markdown. I havenāt seen that in the thread or in Tomās book. I have seen it in a Wyckoff related article though. Is there any other recommended reading you have come across in your VSA studies?
I have been a long time follower of this thread and it has helped me alot in my trading. My biggest challenges are the oleā FnG, Fear and Greed. Thanks for all the knowledge you have shared and continuing to share in the thread.
Best Regards,
Richie
[QUOTE=Danny K;290720]I donāt like mess-upsā¦ :28:
Hey Danny K
That was EU interest rate drop to 1.25% when the expectation was to remain at 1.5%
Just need to wait a bit for it all to settle again
Thanks Tassie. Well, No short today thenā¦ :24:
Hi R1aaron,
Have a look at MTA - Market Technicians Association
This will explain a little about Automatic Rallies etc. it is similar to a pdf I am sure was posted in this thread, but I cannot remember exactly where. There was a great article in Market Technician that Petefader has referred to, and is very useful information.
Hi Richie, good to hear from you. Yes, I definitely do a combination of Williams and Wyckoff, so all of that free info out there from/on them is good. You may have also noticed that Iāve adapted things slightly, and even cut some things out to simplify it and make it more high probability imoā¦all shown here in the thread.
Video plss Pete
If you are after video of what Pete does or shows, look his name up in Youtube. There are about 5 different clips there explaining a few setups. If you click on the video a few pages ago, youtube should show others created by him.
Pete shows so much on this site for nothing. I would hope that people continually asking (or closer to demanding) for videos etc do not ruin it for others and have him not return because of the constant demands. He has started this thread and done a huge job in keeping it going, but there are also many others doing a sterling job on here as well. If you have questions, put them up on here and they will get answered by the kind people that know the answers.
I know this thread is very long (I havenāt made it all the way through yet), however, there are some huge learnings in it and I would definately recommend reading through it.
Just remember, knowledge is never instant. You do need to gain a true understanding behind all of this. Not just the VSA part of no suppy/demand and confirmations etc, but also how to read to the left of the chart to determine strength/weakness in the chart, which will determine your decisions on short/long setups. Money/Risk management is also just as important.