Isn’t that momentum right up to a resistance level, so it’s weak?
When this 1hr closes it will be London open and I’ll see where we are…patience.
SL set to BE, will let this one run.
It looked weak to me, even had a short bounce that I’m sure caught some people looking for the reversal (caught me a few 15m candles earlier, tricking me to leave my long trade :o), but now that is has broken the top, doesn’t look like weakness anymore!
Found this - VSAText.mq4
Modified it a little in the interest of clean charts, hope it helps, especially newbies.
VSA_Text.mq4.zip (1.42 KB)
Tried it, hated it…no VSA indies for me. Contribution appreciated, just my take.
Is it correctish? I mean, until I get the hang of easily reading the bars, do you think it will help me?
Actually how much do you need to read into the bars? does applying the general principle work? or do you need to identify an NS from a Reverse downthrust etc etc, or is that just detail you don’t need?
Probably not. From what I’ve seen, VSA indies lack the ability to read the continuous story line.
Play a random movie at any scene and guess what’s going on…hit or miss.
BE hit, now short off the close of the high volume long wick 1HR candle…
Feels like I’m taking too many trades, if my first trade didn’t get within 0.4 pips of TP then reverse, I’d be sleeping right now 
Ok, thanks, I’ll totally dump that text thing then.
So here’s what I’m looking at on the one hour, and my analysis says, hang on be patient, no clear signs.
Famous last words. …just messing with you. I’m in the patient camp right now as well.
Depends, if you’re trading pure VSA then yes…the more you understand the better. If you are trading your own s/r system, or God forbid an indie system, you can use the simple stopping volume (high volume points) as reference for strength and weakness at the very least.
Famous last words indeed.
Even when you consistently make a good analysis of the market, you will still fail if you have bad money management. Today was a perfect example of this for me.
I made a total of four trades.
[ul]
[li]1 of the trades I set my SL to BE too early (my strategy says to never set SL to BE), fearing a reversal,
[/li][li]1 of the trades I exited with small pips, then immediately took a reversal off a lower timeframe candle, which hit SL.
[/li][li]The last trade was a good trade, it just didn’t work out and hit SL.
[/li][/ul]
Had I simply made my analysis, set my TP and SL, and left my emotions at the door, I would have only made two trades, both profitable. Worst case scenario I would’ve had one profitable trade, and one negative trade on the long wick high volume 1hr candle, leaving me break even for the day.
Instead I’m down two.
I appreciate the honesty, that’s how you improve. I struggle with it as well. Whatever you need to do to not over manage…keeping a trade diary, having other things to keep you occupied…maybe even a micro account to play with.
e/u e/j g/j look at 1hr about to close. Decisive.
look out for news in 30 mins…
Thanks for the advice! I seem to be good with the initial trade, it’s how I manage the trade once I’m in that needs work. Keeping that in mind, this is my last trade for the night.
Two high volume candles with wicks tells me it’s time to go short.
Now I’m going to sleep, so I can’t mess with the trade
imo the safer way would be a pending short order just below the last candle on your chart, but good luck.
I think I still can’t put any screens yet… I have just couple posts.
But I just took couple short trades. I closed both and got about 20 pips from both. I basically went short almost from the top and closed before bottom.
I was very sure that going short is good idea. But it just didn’t go there like I wanted. Something wasn’t right so I closed. Profit is profit. I’m going to wait and see what happens next.
Sorry for no charts again. Need to spam more so I can put those in here.
From ‘Master The Markets’
If you sat and waited for up-thrusts to appear, looking for nothing else and just traded these indications of
weakness as they appear, you would have to be a poor trader not to make money!
Could that be the case on the 5 mins chart today, short from .330 downwards
I meant 1.3430 