Took 1 succesful trade today for about 20 pips going long EU. I’d post a chart but I need 5 posts. In the NY sessions I’ve just been focusing on GU and EU (think I might add USD/CHF). I was considering trading the Sydney / Tokyo session for some extra practise. Would I benefit from trying to trade EJ, GU, and AU during the sydney/tokyo session or should I just stick to the pairs I actually intend to trade when I start with real money.
Wishful thinking for an easy setup today. Reaction to a test of support will tell. Lot’s of distrubution behind this recent down move though so I would look to get short happily after a rally.
I’ve been so busy. No time to even trade. Like now I’d like to look shorts from little higher. Really hate to take any longs when going this high. New high in long time. But then again, price can go down a little bit and then jump even higher… As you can see, little confused what’s going on. Too much stuff to do so can’t really watch charts. =/
Ah… Pete had good screenie again. Basically what I was thinking… 
Pete can take over for few days when I’m busy.
You guys ever pay much attention to price/volume divergence on longer time frames?
Just wonderin’.
Some of us pays more attention in those, some less. I think I pay less. I try to look at those too, but I find that to be too much info, 'cause I’m used to scalp, so bigger TFs sometimes confuse me too much… I’m used taking fast profits. But I wish I could be better at longer trades. My dream is to have many positions open with less than 0% risk (meaning that I put my stops to deeper in profit zone when price goes in right direction) and I would get like 100 % or more profit when I close all.
Nice to see you back Pete.
A question; is there a reason why they are distributing so heavily at a price where they ‘pushed’ through a week ago? What does this mean/do to those traders that were locked in? Do they now sell? Are they even there?
Another Question; have you any thoughts, opinions or suggestion regarding VSA and XAU?; is it too volatile?
If you mean why did price come back down this week after such a strong up move…look at Thursday, Friday and Monday on the 1hr. Wide spread, high volume up bars followed by an inside close. It’s one of the most simple things to show weakness you will ever see. As price shot up there was big money absorbtion (pro selling) causing high Volume with no follow through up on the next candle.
What happens to traders who bought high? They lose lol. Are they looking to sell now? Probably. Put’s me one step ahead if I get that long setup I posted earlier lol.
VSA works well on gold, now I stick to e/u, g/u but used to trade it. I remember looking at the reaction to tops and bottoms of channels to enter a trade often…seemingly more than fx.
In Master the Markets, it talks about ‘Locked in Traders’, as those who have positions that the Smart Money (SM), wish to avoid, therefore they ‘push’ through that resistance/level with the intention that they become locked out of the trade, for either fear of missing out, or not wanting to realise their debts…
I think I just answered my own question. The SM [U]DID[/U] push through and are now acquiring those positions.
Is that right?
Heh 
This is my same 1hr chart untouched…zoomed to 5min. Notice the grey area tested to the pip. That box was drawn based on wick only from the 1hrs previous support.
A TEST OF THE BODY UP TO THE POINT OF WICK, IS A VALID TEST…golden info right there.
Is it just me, or is this paragraph all screwed up? lol. I know MTM can be confusing but I think you topped it. You want my advice, I’ll give it. Don’t worry about MTM for the moment, Nero and a few others have proven that my adaptation of Volume in FX can be understood and implemented by reading this thread alone…hi Gavin.
Hey bud, no not me. You know, someone joined BP 5 days ago named Master “Fang”, and he got banned. What’s up with that? 
His or her fangs were showing as he/she tried to start something with some of us honoraries…so he/she got showed the door.
Wow, people are so odd. Hopefully next we don’t get a Pete-tators or Sweet Nip. 
Well…we now have a Sweet Puss :eek:
Right, lets try this to see if it helps in forecasting today.
So if we assume that we’re on a continuing downtrend, in which case we’ll see a break of the 3850 area, it’ll range mid morning (GMT) before it forms another head and shoulders later in the afternoon.
Hey Pete! It’s great to see you there… I was afraid you left us alone with just few experienced contributors
Anyways… I have a question regarding your post I quoted. I read MTM and watched a lot of Gavin’s videos… (Shame on me :D) … And I think that “VALID TEST” should definitely be on LOW volume. Therefore the professionals would see that there are not many bears and the market would rally up. However, in your case the volume is high therefore I would expect the market to move sideways and maybe retest in the future before any strong up-move can take place.
Also, in the same post, why did you mark the third marked bar? It is a doji on high volume. What did that mean for you? I think I would call it just a battle between buyers and sellers… Is it weakness or strength?
Can you please clear things up a little bit? Thanks a bunch.
Hahaha…I’m laughing my ass off right now! oh man. Let’s leave it at that.
ok, a low Volume test AFTER there is stopping Volume to show no more sellers, AKA no supply. Nothing wrong with watching Gavin’s Videos lol.
A High volume Doji with the next candle not continuing the trend is an initial sign of reversal. Remember how important candle closes are. A doji shows no progress was made on an attempt to move somewhere.
If you marked it as accumulation, why are you assuming that it will continue the down trend?