Dodge, since Thrusdays largest bar is a down bar on extreme volume, with no new low to follow, we would have to call that “re-accumulation” during that up move…just for the record. Yes, friday did show a bit a of weakness, but no true stopping volume yet as new highs were made.
This was a big move and we have to be patient on the reversal. It’s not simply going to start dropping and we’ll miss entry…it has to “cook” a bit. At the minnumum I need stopping volume on a move up followed by inside close on the 1hr to get into the realm of safe entry.
…and don’t forget about fake break outs beyond a seemingly perfect entry price. When they close as pins, we don’t tend to notice as much…but at one point, those breaks were solid candles…TRAPPING people at the very worst price. Just what smart money needs to start to bring it down…the herd is long all over again with fresh WEAK entries. [B]This is what they most want before a reversal.[/B]
Hi Pete,
thanks for your answer. I’ll take a look to find the book.
About indi’s, I was asking for those Volume indicators I’ve seen in your charts. In my MT4, I have only the simple volume indi. It’s only green and only in the main window.
Daily chart shows [B]increased volume[/B] with green candles and [B]long upper wicks[/B], until the 21st when there is a long green candle up to the [B]50 fib[/B], with [B]lower volume[/B].
Edit: Also matches up with a few fib expansion levels:
I personally don’t consider Volume on the daily chart. The 1hr tells all for the big picture as far as volume, imo. The daily is too general. Not enough detail.
Looks like you were thinking right. I was in small before that, so I added to my position up there, 1.3616. I just took some profit and locked BE though. Pre London can get weird.
Yep, take your time with it. Everyone ends up reading that book at least 3 times.
I closed up shorts, looking for longs. Hopefully after one more good push…nice big bars to attract sellers and higher volume equaling no more downward progess. Or I could simply buy an inside close on the 5min after stopping vol.
Looking at 5min for my e/u entry. I see supply now at 1.3508. I’ll wait for that to break (push though supply) to enter…if there is not another push down.
Also, no true stopping vol on 5min. (Volume higher than the move down with no new low to follow.) Didn’t see that on e/u or g/u yet. I really want another push down and that before I go long.
Right, that would be no demand. As long as there is no stopping volume on a trending move, you can take those as it breaks the low of a no demand candle. Text book VSA.
after reading atleast 45 pages of this thread, I can say I am still a bit lost. I tried watching youtube videos also but no help there. I’m sorry theres a bunch of new guys who are behind the power curve on such a great idea… but I’d really like some help if you can.
When volume is spiking, but the trend is sideways what does that mean?
I see pin bars with high volume that just lead to a continuation in trend… so I am not sure what rules you follow to make your trades. Can you post clear cut rules to follow, and your logic to tailor to the market in different situations?
If you see high volume on say a bullish candle with no wick, or one that is rising and has a top shadow of like 30%, then you see a doji with high volume what do you do?
For instance, USDCAD right now, on the 1 hour chart, volume is high on up and down candles, and is a bit spuratic… I don’t know how to read that.
The most basic explination is… I’m looking at obvious s/r on larger TF and .50-61.8 fibs to enter if I see stopping volume. I gave many many chart examples of entries, stating all the reasons why I entered.
I also identify the phases shown in the first post, using conditions I have stated.
I was in small before that, so I added to my position up there, 1.3616. I just took some profit and locked BE though. Pre London can get weird.
