Its considered stopping volume because that was a bullish bar that had the same amount of volume that started the downtrend. The next bar should confirm its stopping volume by being an upbar or narrow spread.
Got stopped out after going long.
Still figuring out if itās better to manage the trade by exiting early if you see a higher volume candle give an opposite signal, or just let it ride based on the earlier analysis. Iām leaning towards āyesā right now. Had I stayed awake I likely would have gone short again after the next 1HR candle.
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Original Trade.
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Higher volume long, exited short early and went long.
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An even higher volume short, unfortunately I was asleep and could not trade this short.
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Evaluating the 15m chart on the original short trade, from the 1HR candle (#1 above). The wick was generated by a stopping volume red candle. This is a strong signal.
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Evaluating the 15m chart on the long trade from the 1HR candle (#2 above). The wick was generated by a green candle with lower volume than all of the last 6 candles. Volume is also gradually decreasing. This is a weak signal.
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Evaluating the 15m chart on the short trade from the 1HR candle (#3 above). The red candle was generated by a higher volume pinbar, then a long bodied red candle, closing at the bottom. These are strong signals.
The story here was clear, price wanted to go down. Lesson learned, stay awake and pay attention
Hi all,
Iām new here and in the forex world, after nearly loosing all my intitial account in a couple of weeks I found this thread and Iāve reading it twice already. Since then Iāve doubled my account and have a feeling completely different than when I started.
Just want to thank Petefader and the others for such valuable information!
How they can double and triple their accounts so fast? They must go almost all in per tradeā¦
I missed whole down move today. I was sleeping. But even if I were awake, I wouldnāt find any good place to jump in.
I know! Iāve been risking way more than I should but I had no other option since my account went really low and dumb of me I opened a classic account instead of micro, so minimum I can trade is 0.1 lots!
But now that my account is breathing a bit better so is my money management. I fact, the main reason I nearly loose all my account was because of lack of money management. I learnt it the hard way.
I compare it to having an accident with no consecuences when driving, you learn way more than on any driving school!
Short on wick break.
Short on the wick break removed, just went short on the lower volume leading up to the 50 fib.
Hey Dodge are you still posting pics because I havenāt seen any since the new forum went liveā¦
So, those huge down bars with no wick with quite decent volumeā¦ What does those tell? Sharp down move and then it takes long time to come back up. I want to know what are those for. News involved, yea sureā¦ But I wanna know this from pro aspect. Those must tell something.
Then that blue one, did you guys have that wick? I didnāt have it on other broker. One minute, it went up, then second minute, it came down. Seems like glitch. o0
Editā¦ Okayā¦ Got some problems with picture at firstā¦ Now working.
I had the same weird wick on my demo IBFX installation. Couldnāt get rid of it. Doesnāt show up on Oanda.
Yes Iāve been posting pics, they show up fine here.
Want to know how I doubled my account fast? Keep your eye out for long-term setups on a pair and have a short/long bias while trading that pair and close portions of each trade but always leave a little running. Give those ācrawlersā (as I like to call 'em lol) some breathing room with a SL and keep adding high potential positions until the long-term setup has exhausted itself. I had one order from .2918 on the 11th of this year and rode it to the 27th netting me some 800+ pips with several 20-30 pip trades in between (all longs, no hedging).
Now Iām trading both sides again until the next one setups.
I spoke with IBFX and again, it was an invalid spike.
Thats them saying āHey buddyā¦ you missed the big move! sowwwiiee!ā LOL
Remember, what looks like buying is usually selling and vice versa. Instinct tells us āIts going down, so we go down tooā but SM needs selling so they can buy into. Its not necessarily demand coming in just yet but some consolidation/stabilization. You can tell this is absorbtion because the following bar after the widespread bar has just about the same amount of volume. Someone has stopped the move and either the professional(s) is going to add more positions to keep it going or everybody simply withdraws. The latter is safer.
MY GUESS is that this is setting up for tommorowās NFP report. Price goes down, so everyone jumps on in and boom, NFP released and price goes up. Do not trade this guess. Wait for the setup to appear prior to the release or wait for atleast one 15min bar to complete after the release.
Yes wellā¦ I have opposite. When I see huge down move, I feel like āBUY BUY BUYāā¦ But that didnāt work always. That was before I found this volume thingy. When ever I see up move or down move. Huge one. Or long period of timeā¦ I think āit canāt last longā¦ any minute now, it will change directionā. With volume, I can see better when it happens. Itās still very new for me, but doing quite good.
But I keep missing big moves and big profits. But rather miss those than get always stopped out while trying to jump in.
800 pips is quite nice if you risked 1 % and stop wasnāt too far away.
Iāve always tried to look for different TFs and see main trends and hardly trade against them. But never got big pips like that by keeping something for so long. Record is 200 pips, but stop was 100 pips. So doesnāt sound so awsome.
Youāre falling into the trap of trying to catch big moves, chances are you will get killed doing this, the art of forex is looking for the safest highest probability gains, often after a big move, so when you see a big move, think great, a safe trading opportunity is just around the corner.
Well, I never try to catch those big moves. I always miss those.
The thing isā¦ I donāt find no harm in closing 50-75% of a trade and leaving the rest to runā¦ Either way, that trade was profitable and eventually, price is going to take off without never looking back. I say āalways keep a little open.ā
Iām trying out something stupid just 'cause itās friday. Weekly pivotā¦ Doesnāt seem to go bellow it. And I see some volume here and there. So I went long. Stop is 10 pips away, risking 1 %. If it gets stopped out, then too bad. But if it flies, then I will laugh my butt off. Fridays hates me. I bet 10 dollars (lol) that I shoulda went short.
Editā¦ Seriously, this is stupid, donāt try this at homeā¦ Or at work.
Got stopped. Went to get something to eat, and got stopped out. It went 40 pips profit in one minā¦ Then one more minute, and stopped. Thatās just funny. I go to sleep.