…hopefully that’s not going to be stopping volume now and my trade will go lower…already closed most and set BE just in case. If that stopping vol confirms and the 5 min matches, showing demand, I’d have to consider longs…uggh, i dont wanna lol.
Seems like stop-vol on the 15 and 5 mins judging by the “engulfing” action but probably too early to tell. Also, there is still a weekend gap to be filled up at .3080ish, which also happens to be the .68 level on the 1h. Just my two cents, let’s see how this evolves.
It is really not easy to identify the Engulfing pattern which is why we have to see it before entering into any trades.
Sometimes their is a potential to spot it at the right times to make some profitable trades.
True. Sorry, didn’t mean to confuse anyone, just pointed it out from the fact that the highest vol of the day on the 15min was followed by an upbar which closed above it (the high-vol down bar). Of course not a good idea to make a trading decision based on a single piece of information like that. Hopefully, at least, a good example of why it can be beneficial to wait for the 1h confirmation.
expecting move back up to that lovely pin:64:
Anyone watching the USDJPY 1hr. Looks like we may have some stopping volume. Highest volume since the 4th May
Why?
…
That’s a proper trade. I decided to pass…freaky environment today. Good luck.
Hi Playe,
There is a bit of a disadvantage using the 4hr chart. After just 2 candles, you have gone through a session and into another one, so the volumes cannot be as reliable. Much better in my opinion looking at the 1hr and 5min. I may look further out if I am looking for a big climactic event, but probably not as above.
Nothing against what you have done, but not really how I would look for a trade
Tassie
Starting to mark up. Supply coming in at 79.668. Perhaps just pausing. I do expect it to keep going up.
Woke up this morning and closed the trade for only 8 Pips. Market is sideways at the moment.
no worries, it’s just one of my setups, i dont believe in coincidence or guessing in this game or business depends how u view it, remember SM is active on all timeframes, responsible of about 85% of activity, let’s c how it plays out:64:
EURUSD also showing Stopping Volume on the 1hr. Highest since the 19th April! No Entry on the 5 minT/F yet for a long
This is usd/cad trade I took. I was watching this area for a reaction and had a couple of other things making this look more attractive. By vsa standards this was an agressive entry but to me it made sense that it had a high probability of at least a retracement to around parity. I’ve taken profit on half and set BE on the rest just in case it gives a larger retracement.
I entered using vsa rules so entry was push thru although it wasnt ideal as bar had a bit of a pin at the bottom. The volume was NOT SV compated to the past couple of days however at the time it was the highest for the day and it also lined up with m15 and m5 volume. Actually there was a better entry on M5 later on after a M5 double top it had a ND and it also had more volume that when I entered.
If anything’s looking bullish, au is not bad. 1hr stopping vol, push thru AR, low vol test…continuation?
mmm, a strait +28 pips on the long so far with no dd and banked some. After a day like yesterday, it’s funny how you never know. I opened my charts and the clean setup was there, feeew…easy day. That’s 2 wins no loss this week, pro in this environment if i may say so myself lol.
Take some time and look at the setup on both TFs…clean as a whistle. Entry was the 10:20 gmt candle on the 5min. Holding some for higher hopefully.
Thanks for pointing that one out Pete. Once I understood what you were saying there were some nice No supply confirmations on the 5 min T/F. I got in a bit late but once it broke through old resistance at 1.01217 it`s kept going up nicely.
Up 22 Pips at the moment. Like you said better than yesterday!
Closed half the trade at 22 Pips. Put a trailing stop on the rest. Got to go to work in the morning. Happy chart time. Back tomorrow. Cheers.
Hey Pete, I got in a bit later with the 15m HMA approach… NS followed closely by a color change.
Hello Pete, i have been reading some of the posts about VSA. It sounds like a interesting concept.
I am trying to apply it. When i review some Euro charts from this week, Vsa doesnt work that great.
I can see some big volumes in the 5 minute chart, but once that volume has come in the euro moves alittle.
I cant see the consistancy in it. Am i missing something .
Thank you
Hi Ridethetrend,
I know it will take some time, but I encourage you to have a look at Petefaders videos on the first page. They do explain so much where I couldn’t possibly put it in such good terms etc. Pete has been doing this much longer than most of us and is very good at this method, and passionate about teaching it.
Not always does the chart do it for us VSA wise. We use VSA to gain our edge and inevietably win more than we lose. The 5min chart essentially is not one to catch trend etc. Initially, you do need to look at the 1hr chart to find what you want, then drill down to the 5min for the entry point. It is all explained in the vids. If you are interested in trading VSA style, the vids will be very interesting for you.
Tassie 