The high volume had a bullish response, that is the key, so a sell is not an option, and it’s an area to go long at.
Not sure why you picked that particular high for the fib. Recent swing, nice and simple. This should clear up the 1hr view for everyone, take your time with it.
Thanks for posting Pete.
Can you answer this question please. Why is the bar I have arrowed not a concern? Was it a potential concern when it first occurred? It’s a sign of supply right? It is a pretty high volume in relation to recent volumes, is a widespread up bar, has a negative reaction on the next bar, and it was right up to the top of the range.
The 3 signs of strength/accumulation that I marked are all [I]higher volume[/I] then that supply candle.
Thanks. Appreciate it.
Thanks petefader.
After careful consideration, I present the Hull Moving Average. (Have I lost my mind?)
It’s actually a very common indicator among VSA traders, better than the 20 sma type Tradeguider moving average imo.
The main issue with me was, when I take my setups it’s often against the direction of the Hull, so I always end up removing it. So, the idea here that it’s ok to trade against the color, BUT it can offer additional opportunities as well. Another issue is these indicators give different signals per time frame, so I’m using the 15 min chart only on this. I find it best for hull direction intraday.
So, separate from my regular method, I’ll be taking 15min VSA setups when it matches the Hull. That includes looking aggressively for an opportunity to get into trades that match the Hull, unless the chart shows clear reversal signs. The setups are not going to differ much from what I’ve already shown. Probably just a couple extras for trend catching, and letting the Hull dictate entry when the Background strength/weakness matches.
So far I’ve taken 3 trades today already…and I missed the first half of London lol. All winners. I will post the losers as well and try to maintain a record here for these trades. I will post the indicator shortly.
This gave my usual setup on the 5min anyway…but nice to see it here.
These 2 were small scalps…market wasn’t open long, played it safe. They continued down all day.
Today showed a fair amount of supply off the top, so I’d call it a range condition for now. If I had to bet though, it’s going to break upward from this range.
Pete, what are your targets, anyway. I wanted to ask you this last time already, when you uploaded your previous e/y chart?
Previous s/r, fib usually, along with watching for VSA signs of reversal to manage the trade. I still have to make the video on targets.
WARNING: This is just a moving average like any other, and will not be profitable to just trade off of, so don’t waste your time. I still recommend that newbies do not use it when learning VSA. Also, this can tempt you to jump into a trade if you are not a patient trader (most aren’t). For its use in this thread, let’s stick to the 15 min chart only, like the ones I’ve posted. Refer to my earlier post today on it’s use.
Download HMA_34.ex4 from Sendspace.com - send big files the easy way
I’m using this to get high probability opportunities more often. With a clear direction to trade in, and one TF to watch, it wont take away too much attention from what I normally do. I’ll be trading the Yen pairs more regularly now.
More fun things to play with haha. I like that you said it will make you trade the yen pairs more often, because I find it tougher to read ej gj than eu gu. :50:
Right, and what you see there is the regular ns entries popping up before the color change. There will never be anything wrong with taking those against the color. There is yet another NS on your chart once the color did change. If our background was mixed, and not so clear, the NS and green would be a go (fib issue aside). Also, if there was no NS opportunities at all, but we saw the strength, we can get in on the color change to green. It tends to match up pretty well with the “switch over” into markup.
One thing about the color changes. In real time, when you see it first change take it as a warning. For that color change to “print”, the next candle has to have the same color. So it’s actually the next candle after the one you marked.
Thanks for your feedback. Yes, I know there is nice setup even before Hull, there is trend line, ns’s and many other signals. We are about to make some nice up-move.
With Hull setup I just wanted to follow the rules, just to make an example. Anyway, I think this setup can really give you some more opportunities on short term. I like it.
@pete do we need to knw wat phase we are on to look for trades on this hull indicator u brought? or wen u see a setup on both direction u take it if only its correct to all u mentioned? and how many candle can keep a NS or ND valid?
Of course trading along with the phase is higher probability, and being aware of it gives an idea of how far the trade may go. For example, taking a short at the top of the accumulation range, because supply came in and the hull is red. That is a more risky trade, and can have limited potential. I’m not going to say you can’t, or that I never do. In the end it’s about playing the probability that you believe is there. As long as VSA backs up the entry, it’s fine…I just don’t want to see people trading off the indicator alone. Post setups that you see fit, and we’ll have a look.
I didn’t take this trade, but here’s the setup. Late in the day by the end but it’s a good example I think of the hull adding a bit of extra confidence. As you can see, the setups are the same old thing, just on the 15 min. I think at worst, using the hull will be redundant lol, at best give a few more opportunities throughout the week that may have been missed or uncertain.
Hi Pete,
Always looking at new things so this should be good aswell. Are you leaving the HMA settings at the standard 34/3/0 settings or going to change them a bit. All the best,
Mike