Looking at the hourly EU chart it appears as though we have been in accumulation/markup/re-accumulation for a while. To me it appears as though we are in distribution presently. You might therefore want to check the 5 min chart for signs of weakness / no demand and look for a short position (imho).
I believe there is too much demand present for a distribution phase, plus as others have mentioned we have yet to see a proper buying climax. I think right now the prices are being driven down to flush out sellers prior to another up move.
am in long for EU…lol…hope it goes well…tp…very big:cool:
You took the NS off the bottom? I saw it, but the 1hr vol was not high enough and there were plenty of supply wicks during the day… So didn’t take it…
Well you might be right - but you haven’t changed my mind. I got my ND candle and am in short
Also the latest retracement did not get up to the 50-61.8 fib zone…
Just thought I’d mention…
Froggy’s Right. Already +45pips on that ND from earlier. Price Pushed through Support like if it wasn’t even there, and It seems that it might jump down even further. The 50-61.8 fib zone is still a few profit pips away. I’m stayin Short. but Trailing stop to Take some profit.
watch AU closely…lol…vsa not for kids…got out of eu +1 pips
just watchin for now, its not time to initiate new position imo, would wait for SM to show their hands before commiting…just my 2c
I agree with the shorts, I was talking about Fabulono’s long position… I got in short in the morning…
…on the demo account cuz I didn’t have that much 1hr background :/…
Now tell me dis are not stoping volume ?..waiting for an entry…pls pete do u think its advisable to trade dis signal cos frm the look of things we knw it will take abt 1 hr to give a proper entry…answer needed?
So here it is…your choice.:54:
dat was a push tru .
they want to trap us in agn …just lik what dey did at dis same time yesterday…am not buying into any signal for today agn…bye fellow vsa traders.
Yep, I’m deciding to pass on the 1hr fib long for now.The stopping vol was nice, but buyers didn’t switch to markup when supply died out…so it sat there on low volume. I’ll keep hunting it. Maybe an entry Asia/tomorrow.
his dere anybody in that buy?
No… Only weakness above 1.33… That last pushthrough had no follow through… We’ll see.
EUR/JPY 1 Hour chart …
is this Redistribution phase on last 3 bars?
second question…on chart i have
wide spread, ultra high volume is this selling climax ? if answer is yes, that mean we are in end of down trend
and start of accumulation phase
third question…accumulation phase and distribution phase are identify by ultra high volume and wide spread
is that true?
It’s not redistribution. Redistribution starts with a buy climax/supply coming in to stop an up move, during a markdown phase.
As far as it being a sell climax. The high volume (the dark blue), wide spread is nice potential stopping volume. The next candle has to confirm it. As you can see it closed lower, not up. That is not a great sign of strength yet, but at least it didn’t close lower into new ground. That support is getting tested now, pre london, so you’ll have more info to go on.