Time for e/u to finally bounce, says VSA.
I’m in at 1.4311. I might have leave it over the weekend…something I rarely do.
Time for e/u to finally bounce, says VSA.
I’m in at 1.4311. I might have leave it over the weekend…something I rarely do.
I just took off 1/3 of my position at +32, and locked the rest at break even…no more risk. I’ll let this run now.
I banked another 1/3 off the trade +44 as it stalled at 1.4360 resistance. Now I just need to leave it alone.
Just like I’ve explained in earlier posts. Same deal here…buyers get in low. We see them when there is increased volume at the bottom of the range, and low volume at higher points, where you can judge the amount of sell activity (high).
Notice that there was significant selling marked in red at on the left area, but then we see buyers low (green).
This is from an earlier post…
Buyers get in low and sellers get in high. Volume at these high and low points will tell you who is stronger, buyers or sellers.
Look at:
A. The amount of volume at the bottom (buyers), versus the amount of volume at the top (sellers).
B. The candles and price action around these top and bottom levels. (pin bars, and large hi volume climax bars)
The idea with this trade is to get in at the bottom…where the smart money is getting in.
BE hit on the last 1/3 position on eu long. Buyers are still accumilating low. There doesnt seem to be any rush to push up price yet, so I’m going to wait.
The types of things I am looking for to get back in long is an upward channel, break of resistance levels, lack of sell volume.
Being unsure of the timing, I would rather get in late and miss a few pips, then get in early and suffer a large draw down.
Likely to be a very slow night anyway as the GDP announcement for GB, and US comes out in the early AM.
May not be any big swings at all until then.
Be cautious!
It’s the calm before the storm.
Yes sir…thanks for the heads up, I didnt even check news yet. Maybe the US numbers will finally turn eu around…we’ll see.
If this thing does take off at news, there is probably enough accumilation behind it to make it the start of a legit up move. I might just have to take a reluctant news trade. :rolleyes:
Long eu off BS news move…a dangerous game…(praying).
lol…heck no, SL hit that eu long.
been profitable buying eu in bites this week…but I was afraid this would bite me. :rolleyes:
Here I am long EU again. I actually got a long scalp entry using my mad scalper system (my other thread), banked half at +20 and locked BE now.
I’m hunting the eu long almost for sport at this point…I will try to hold this, locked BE. If BE gets hit, I’ll keep hunting low.
I see a G/J long setup here…
Pretty slow as expected, but a decent setup.
G/J up 200 pips?
Ya, but I didn’t take it…oh well. Chart shows it…buy volume was there at lower prices, sell volume at higher price was very low. I think the way I’m highlighting charts is self explainantory at this point.
I closed that gold long trade for a few pips then sold it for a few. Can’t wait to get back to real trading though…Come on next week…hurry up!
A perfect long setup on e/j 1hr. Maybe someone else can post a chart.
Maybe I’ll post the next one, cause i definitely don’t see this setup
That E/J was a double bottom with high volume pins.
And on positive gbp news to boot! hehe. It’s the REACTION to the news move that matters, the initial move is manipulation, usually for better prices.
Hi Pete
Nice trade you had there. I was in 2 bars earlier thinking of maybe a evening star formation. That pin bar of yours hit my stops, hmmmmm I think its time to use volume more now. lol
Yep, I was thinking how hard that would have been to trade without volume. If you were short earlier, your stop is hit, and if you were long…your stop was hit, lol. Tricky eh?