Supply/Demand, VSA, Wyckoff with Petefader

[subs]

Ok subs, you need to clarify your No Demands and No Supplies, it look like you are getting them wrong, my NDNSHistory indicator will help you with that, also I don’t think I’d place my Fib where you have done, it’s quite a messy area, higher risk, the last high you have on the chart might well be a safer retracement point.

The first part of my comment is 100% correct, the rest is subjective, but a general rule you can use in trading is, that the simpler and more obvious it looks the better the trading opportunity, the harder you look, the harder it is to trade!

Sorry I uploaded the wrong pic…updated now but I haven’t put in any ND or NS in this pic as my intention was more to apply the chart to VSA phases. Anything more to add on the updated pic? Thanks for the feedback yet again!

[Danny_K]

A little analysis related to my last post. Some critique please?

Hello subs!
I just want to point out that it looks like you’ve drawn your fibs upside down.

[subs]

Hello subs!
I just want to point out that it looks like you’ve drawn your fibs upside down.

Just noticed that haha. The perils of being a noob Just reuploading now

[Danny_K]

Just noticed that haha. The perils of being a noob Just reuploading now

Everyone has been there

Ok, here’s my view on it. I wouldn’t be too quick calling this Accumulation because we’ve not seen relative high volume on the very bottom yet. Price continued down on low volume and that is not what we want to see, we want to see the highest volume at the bottom.

[Danny_K]

And the one that you’ve marked with “Accumulation” is way too low volume to be considered as stopping volume. It’s also the wrong time of the day.

[subs]

Everyone has been there

Ok, here’s my view on it. I wouldn’t be too quick calling this Accumulation because we’ve not seen relative high volume on the very bottom yet. Price continued down on low volume and that is not what we want to see, we want to see the highest volume at the bottom.

30 Pips A day Keeps the your money at bay

And the one that you’ve marked with “Accumulation” is way too low volume to be considered as stopping volume. It’s also the wrong time of the day.

So would you say according to my pic we are still in mark down until the down bar stopping volume next to the 1.000 fib?

A bit unrelated but I think we might have a head and shoulders on E/U 1hr.

[gigitranza]

Here’s the Latest NDNSHistory indicator, the last deleted some arrows when following candles cancelled out the setup, like when you have an ND and a close below, then when there was a close up it would cancel it, also pins that are bigger on the top for ND are lighter coloured, VV for NS.

Hey PPF, I like this indicator, as well as NSNDAlert. Could you modify them to give signals only between 8 GMT - 16 GMT ?

[subs]

Ok subs, you need to clarify your No Demands and No Supplies, it look like you are getting them wrong, my [B]NDNSHistory indicator[/B] will help you with that, also I don’t think I’d place my Fib where you have done, it’s quite a messy area, higher risk, the last high you have on the chart might well be a safer retracement point.

The first part of my comment is 100% correct, the rest is subjective, but a general rule you can use in trading is, that the simpler and more obvious it looks the better the trading opportunity, the harder you look, the harder it is to trade!

This indi is great! Is it possible to get the code so It can be converted to lua (for use with fxcm tradestation). With your permission of course.

[Danny_K]

So would you say according to my pic we are still in mark down until the down bar stopping volume next to the 1.000 fib?

A bit unrelated but I think we might have a head and shoulders on E/U 1hr.

Yes, I’m still going to be looking for shorts until I’m convinced about anything else. I would like to see price test the low again but it would not necessarily have to go that low to convince me about accumulation. We just have to wait and see what volume tells us

[subs]

Just out of curiousity, at you talking about the low at 1.2920 or lower low before that?

Just looked at G/U on 1hr. I know E/U is the main pair around wanted to get some opinions on phase type by chance?

[Danny_K]

I’m talking about the 1.2856 area.

I think the best is just to let it go for now. All the major banks are still on holiday, so wait until everything is back to normal

[Evermore_F]

Ask them?

lol. thanks

[purplepatchforex]

This indi is great! Is it possible to get the code so It can be converted to lua (for use with fxcm tradestation). With your permission of course.

It is the code! And yes, you can do as you wish with it.

[subs]

It is the code! And yes, you can do as you wish with it.

LOL I forgot that.

Have you guys heard of smart trades btw? Apparently it’s better than trade guider and cheaper :s

[SagiCZ]

SmartTrader costs around $500… My brain costs $0. Easy pick.

Stay on topic please.

[traderjoo]

I’m sure you could have scalped some of that action today with the high volume rejection around 09:00Z. But like Danny was saying, it smells more like distribution. Let the range play itself out and have smart money tip it’s hand. Any serious commitment to longs won’t appear at the top of the range. Besides given the candle behavior in the past week, it still looks like there’s more short interest out there.

[subs]

Fair enough just wanted to hear thoughts as I just heard of it.

[luiz]

SmartTrader costs around $500… My brain costs $0. Easy pick.

Stay on topic please.

LoL SagiC

Happy new year Petefader, how’ve you been?

[Tassiefx]

I think Petefader was having a break till the 4th to allow things to start to settle for the year??
Anyway, Looking at the EU (with my novice eyes), we have had the highest 1hr volume since 29 Dec with a nice candle above. May be close to a climactic action and possibly move down into the 50-61.8 Fib level. If that is correct, we may have resistance at the 5 min fib level (last low to high) between 1.30156 and 1.30056, before it moves down to the 1hr fib level between 1.29881 and 1.29717.
Price currently at 1.30325 and peak of 1.30576 might give an approx S/L of approx 25 or so pips and a target at first resistance of 1.30156 (only 17 or so pips), however, if BE was set there and half is put in the bank, we could possibly try the next half to the next resistance if volume didn’t show a reversal (2nd target around 1.29881 which will be around 44 pips). If that worked to my little plan, that could mean a net profit of approx 30 pips with risk of 25 pips, so if 2% risked we could get a 2.4% return??

Now, it is early in the year and I am not 100% sure of market behaviour and if I am slightly rusty for the start of the year. I will watch and not actively trade it, but it will be interesting.

Below are the 1hr and 5min charts from my explanation above. I hope I am correct with my assumptions. If not, I am happy to be shot down providing someone explains my error/s

[purplepatchforex]

Below are the 1hr and 5min charts from my explanation above. I hope I am correct with my assumptions. If not, I am happy to be shot down providing someone explains my error/s

It sounds pretty mush on the button to me, I can see it clear from your charts

Now I see them

Yes, the 15m gives the same ND too, I’d say it’s good for the trade.