Took alot of patience today, but paid off with 2 wins…here’s the really pretty one. This resistance was from the daily…if you look back.
Took 2 trades today. A small scalp off the news reaction (as described in this thread), and this.
The initial move up to the left, that the fibb is drawn on, was a break of major resistance on larger TF.
Since I dont take break outs, I waited for a pullback to 50-61.8 fibb, with increased volume there and a bullish candle close. Had some draw down, but VWAP and point of control came through as support, and away we went. 
If you want to see the chart as the banks do.
If you want to “feel” the market as the story unfolds.
If you want to know that when you enter a trade, big money is entering with you, than learn to use the Volumes indicator that comes with your MT4.
I’m not talking about VSA. I wish I could change the name of this thread. The name given for the act of using the volumes indicator has been hyjacked.
Traders have been flooded with the most ridiculous BS about using the volumes indicator, that I can’t call what I do VSA anymore.
VSA, the way it’s taught by unnamed comercial enterprises, is a load of CRAP. You CAN pick tops and bottoms, and you dont have to have a “definition” for every candle.
As for system jumpers, [B]the problem is that you have a system rather than an UNDERSTANDING.[/B]
May the force be with you.
Love it… Thanks a lot for the info bro. I’ve come to realize that this the only way I can trade. Glad I caught on to this early on. Keep up the good work!
Cool. Feel free to post, ask questions etc…
It’s becoming a real shame to me. All this losing money with “systems”, and the Volumes indicator presented as some scary, complicated thing…or even worse, some say it’s useless! Tsk Tsk, what a shame.
Quick question. Can the volumes indicator be utilized on the 1M TF or do you advice against that?
Sure you can. Looking at different time frames is just a way of looking at the same thing in greater or lesser detail, and in different cycles.
If price is hitting that s/r level to the pip, sure, take a look at that 1min candle…see how it’s reacting, look at its vlm.
Only problem is when you get to the 4 hour time frame, and above. You begin to lose the detail to the point where important things get washed out.
Alright thanks a lot!
I just wanted to mention that I took a loss on thursday of -1.8%. (I didn’t trade friday). I don’t want to it to seem like I never talk about my losses, or that I never take losses.
Trades are based on probability when it comes down to it, and when the market is acts choppy and undecided for a day or two, it can almost be a coin toss…but the good PA always returns. 
July was decent for me. I made about a 10% return risking an average 1% per trade. I didnt’ trade everyday.
On to August, let’s hope the volitility holds and we get through the summer without the charts looking like they did last year.
I’ve been using Go Markets MT4 for my Volume. I’m still using others along with it, but it’s REALLY nice.
Hi Pete,
Thanks for the continued postings in this thread. I’ve finally completed reading it as well as MadScalper, and this particular methodology (I’m not going to say system) feels like it would be a strong fit for me. I’ll admit, I’m having some difficulty “seeing” how it all ties together, but I think that’s due to a) already learning a different system in the past and b) looking at so many other systems/methods in the last 3 weeks.
As much as I’d like to just have a series of rules to trade, I know that I’ll need a much better understanding of PA and how big money tends to move the markets in order to prosper at this long term.
Most likely I will be picking up MadScalper first, but still keeping an eye on volume while trading it. I will keep reading and practicing your current method until the pieces of the puzzle click into place for me.
Again, thanks!
- Dan
Hi Pete-
Your posts are great, and they’ve reinforced the conclusions I’ve drawn about the importance of volume levels.
I use Oanda, which doesn’t have a “per candle” Volume indicator. Is there another type of indicator that mimics the one you use? Sorry, if I missed a response to this type of question on previous pages.
Thanks,
RJ
Sounds good guys.
Rj18, download a demo MT4 for your volume feed. I like Go Markets MT4 (google it). It’s common to use an MT4 demo for charting, while trading with a non-MT4 broker.
BTW, I picked the top on E/U today. If someone posts a chart showing how, you get…umm…a cookie. 
Thanks Pete!
Was it this:
Big volume spike with a close well down the candle indicating supply enetering the market. Second candle closes bearish after failing to push higher and volume begins to tail off as the bears take over from the bulls and then closes with little or no wick?
Correct.
Hmm, I noticed that your Better Volume didn’t pick up on that. 
Nom nom nom!
What’s your opinion of Better Volume then Pete? I’m still finding my feet with VSA, now trying to combine it with what I know about price action.
My Feed is from Alpari UK, would you suggest looking for a more reliable feed?
I personally found no use for the Better Volume indicator. Buy and sell climaxes? hmm…best defined by reading the candles and Volume bars.
It’s often wrong, and those “climaxes” can pop up in the strangest places. Besides that? Hi churn when there is alot of volume on a small candle?..dont need an indie to tell you that. High and low volume…we can see that.
I like indies as much as the next guy…some have uses, but I have found NOTHING that enhances VSA.
From what I’ve seen Alpari volume is fine, but if you have the computing power it’s good to run another MT4 demo to compare and confirm. I like Go Markets MT4.
Thanks Pete. I will run a Go Markets demo on my laptop on your advice and compare and contrast.
Would you mind taking a look at this chart for me? I watched this develop but i’m still not confident enough of my understanding of VSA to take reversals. I saw the long wick on the first circled candle (this is Cable M15) with stopping volume. The next candle then failed to close lower on lower volume. The candle after then engulfed with near enough a tweezer bottom. I should have entered but doubted myself too much.
Would you have traded this? If so, which candle do you think you would have honestly taken the long on? I’m guessing you’d have traded off M5 but am interested in your feedback.
PS - You might recall we hooked up on Mad Scalper 9 months or so ago. I still reckon it’s one of the best systems out there for newbies but I wanted to learn how to trade, not how to follow a system…if you get my drift!
Here’s the cable chart:
I took that trade on E/U at 4:45 EST. Same basic setup. Take a look, you can draw an upper TL. That 5min close broke it, then I entered. Obviously the setup was there…just needed the confirmation that buyers were ready to go.