For NDs or NS bars should there be low volumes. I’m just looking back over today and seeing that NS bars were actually highish volume, (lower than prev but still relatively high) I’m wondering if that should have kept the trade on hold.
Its almost like SM stepped in, but even smarter money tanked it for a bit.
cheers
PG
*Bloody annoying because looking back through the day the setup is a lot clearer post news but at the time (before) the setup was totally valid.
I know, but I’m still long from 3271, a lot of reaction to the '50, but that always makes you suspect that the algos are at work?, from just underneath the Fib line, it’s the one ‘we’ waited all week for - The TC on the 5 day or so, I have done quite a bit of research that will help us lot spend less time on this and make more dosh, might be next week! Good night!
I will be studying this run up to the trade, counting NS and Nds to see if there is anything else that might help. Probably isn’t but it doesn’t hurt to look.
I know this isn’t a pure “trade VSA the way Tom Williams would” thread but watching one of his seminars he mentions waiting for at least 3 “higher lows” from the low created by the stopping volume when entering your trade on lower time frames (15 min or less). Doesn’t have to be 3 higher lows 3 bars in a row, just waiting for that 3rd higher low from the bottom of the stopping volume bar. On the E/U 15 min chart, that would have you entering the trade at 1.3284 at about 7pm GMT.
That’s a relatively conservative entry though, and it’s when I got into the market. However, I’m only looking for +30 pips with a stop-loss at 1.3274 (10 pips). It was moved to B.E +1 when price hit +15.
I have read up to 20 pages of your old thread very interesting thread indeed. And also thanks for your videos which I havn’t watched them yet but for sure I will watch them all.
To start with - What is your MT4 broker recommendation for volume at the moment?
Your old thread
worst: fxcm,fxpro, fxsol
best: Gomarkets, Ibfx, Spot trader.
when you get time could u show a chart with what ur explaining looks like it could help me understand something “alot of reaction to the 50” and from just underneath the Fib line, it’s the one ‘we’ waited all week for could u show on the chart what exactly you mean
the setup was good but entry was after 16.00gmt price in 1h did not close below the low of the highest volume so wasnt soo bad kindly show me the areas with the above statement that you,ve made
Ok, sometimes pictures are best, sometimes words, in this case I think words!
So crash course on Fibs in a nutshell! Whatever chart you are on go to the first obvious move on the left, that is the move that is retracing, remember to keep it simple, don’t look too hard, if it’s not obvious it don’t exist.
ok did that in 1h noticed price went up to 50 fib there was no high volume so voila it was supposed to go up according to the strategy and thats what happened i guess thats what u meant
i was just asking you since av seen u kinda have some good explanation i wanst realy looking hard just wanted to know what u really meant thats all
VSA setups such as the one we have learned in this thread is not a 5 minute setup. Sometimes we do forget that. It is a setup on the 1hr and then we go to the 5min for the entry. The 1hr is where we determine the phase and when opportunity is going to knock for us.
Patience is an absolute virtue, however it will pay off. Always good to start your trading day saying to yourself “I don’t have to trade today” and try to get in to the mindset of only taking what screams at you.
If you want to trade more, best going to demo on madscalper maybe and see what that may do for you, however VSA is much higher probability, but with less trades. Personally, I don’t mind having a quickish look every hour or so, knowin if there may be something happening in the next hour. Can do other things as well then
Purple Patch - I have been absent from this thread for awhile but did you ever post your VSA indicator for making trades. I believe you were working on it in the Jan timeframe.
I got on today just when this was forming. It was a bit late in the day, but it gave a really nice clean entry pattern. Demand, lack of supply, and the “switch over” into markup was clear (I talk about that in the videos). The push thru (effort to rise) marks the switch, the ns test makes it even better proving lack of supply is still there after slightly higher prices.
