Looks like we took the same trade more or less. My stop was a bit wider and I chose to add a little more 2 candles after the green circled one at 1.3585 seeing as the daily range seemed to be holding up and with equities recovering I figured a pullback was on the cards. Exited at about 1.3630 - still have a small part open but think I might close it out in case Asia wants to knock it down some more. On the other hand the USI is at bumping up against a decent resistance level - a reversal here could see EUR start to climb back up once more.
Yea, I opened mine too early. I knew it would go up. But I didnāt wait. I had to go on that point. Shoulda left order that if it goes little lower, it opens that longā¦
My biggest problem is my stops. Always too tight.
Now I saw volume that I wanted to see yesterday. Iām long.
I post charts later I think. Now very hungry, making something to eat.
I think weāre long from around the same spot again - +14 pips at the moment. Euro equities are faring badly today and US futures are looking ugly too so Iāve moved my stop up to B/E already even though weāve already traveled most of the pairās daily range.
After seeing those volumes and wicks (marked with green), I went longā¦ But after seeing that one volume (marked with red), I closed whole thing. I might go in again, WHEN it goes back to same area. Or even lower? If so, I will be there buying (if volume agrees obvā¦). But now, I sit back and wait in shadowsā¦
Editā¦ LOL! While typing, it goes back to prices where I first bought. Nice. Maybe we find new place to go long.
Even bigger volume spike than all those others. That is very strong sign of buying in my book. Iām long again. This timeā¦ My stop is wider. lolā¦
Iām back long at 1.3513 with a feeder stake after that volume spike on the approach to support at 1.35 at 2.15pm. Earlier trade had itās SL clipped at B/E. Iām not wildly optimistic given that itās Friday afternoon but if Equities can peg back some of their early losses it might work out.
Iām quite optimistic, 'cause I waited this buying volume for couple of days? And, many fridays have screwed me over, so maybe this is the time that it finally is in my side.
Right now looking good. 20 pips profit. Itās already 1 % profit for me. Now Iām waiting selling volumeā¦ resistanceā¦ So I could sell half and lock BE.
Editā¦ There we go. Some resistance. Closed half, BE locked. 0.5% made from this. From earlier trade about same. So 1% today, even if rest of this one trade hits stop. But, for once, give me bonus.
Yep - I nipped out at 1% gain too once price hit 1.3545. Closed out the whole thing as thingsāll probably start winding down for the w/end soon enough.
Iām holding. I have strong feeling about this one. Trading with feelings. lol But, I already took profit, and I want that bonus for once. Worth of trying.
Edit. Yes. Knew it. I saw so much effort and now I see results. Up bar without huge volume. Supply is gone. That is how I see it right now. I have very strong feeling right now.
Nice guys, I caught a few on this as well and locked BE now. Patience pays off.
Alright! All thx to you.
Right now it shows me little more than 1% profit, if I would close it now. I still donāt see selling pressure. IMO, supply is gone. It went thru that zone. Pete you agree or disagree or too early to say? It seems like Iām right.
Got one nice setup today but got stop out @ BE May I call it good day Next week should be better
Yes, a successfull push through supply, was 1.3640. Now PA is acting as it should for a markup. Iām looking to exit the rest at sell pressure, so keeping an eye on it.
Okay. So I have good understanding about volume and all that. So happy.
And even more happy, 'cause I was watching those lvls that you marked there too.
Was very good week for me. Only bad things were my too tight stops. But, learned from that.
Good stuff Nero, if there was some sort of title I could give you I would lolā¦Petefader VSA club, āHonorary Memberā.
Iām not looking to add to this, but here is that last chance entry after price breaks the high of this supply area. 1.3640.
Key difference: At the bottom of accumilation zone we want to see HIGH volume on down bars, but at the top and above we want to see LOW volume SMALL down bars to continue to confirm strengthā¦make sure you all understand this.
News just announced that Egyptās Mubarak is stepping down after 30 years. Could make things choppy into the close. Egypt has been contributing to the risk-off air so this could be beneficial for those who still have E/U longs open.
I think I print that and put that on my wall.
And btw. When I saw that no supply, I bought little loot with tight stop. Fast 12 pips from that one. But, was small small loot, so doesnāt add much to my %. It was just testing my analyze skillz.
This is looking so nice right now. Price going lower. It means better price for going long again. Already gave me that usual 1.5 % (I think). Didnāt get big fat bonus, but still some extra. Iām getting greedy maybe.
Editā¦ Made new lowā¦ Saw volume, but not enough. Price going up now for few pips, but I think that is not going to last long. I think it goes even lower. Whatta shame, 'cause when I saw that huge volume on top and closed my trade, I was thinking about going shortā¦ But I didnāt. Damn. No more trades this week. Itās getting quiet very soon.
Was a bit busy with work and missed out that short too. Took another quick 0.5% with a long on the re-test of 1.35 after seeing some wicky candles with decent volume for this time of day. Thatāll do me for the week.