Took this long on the 5min EURUSD T/F following down move with some buying coming into the market. Entered after confirmation of the No Supply, First Arrow. Unable to save a picture with the text written on the screen??? Never had this problem before, not sure whats happen but youll get the idea.
That first blue bar surrounded by the yellow is not a no supply bar your have marked a bullish bar. The no supply bar has to be bearish with a bullish confirmation bar that closes above the no supply bar. Check out Petes No Demand/No Supply video mate.It`s all there.
[QUOTE=steveleg;368820] Took this long on the 5min EURUSD T/F following down move with some buying coming into the market. Entered after confirmation of the No Supply, First Arrow. Unable to save a picture with the text written on the screen??? Never had this problem before, not sure whats happen but youll get the idea.
Nice trade Steve. One thing for others to see for extra confirmation or higher probability - whichever way you like to see it. You have picked the high volume climactic reversal there nicely and it moved up and then retraced - the Automatic Rally point. Your No Supply confirmation came in just after pushing through that automatic rally, which is also quite important. I assume (as we have spoken for a while together on an off with this) that you had this drawn up It also has hit the daily pivot nicely as well. Probably good time if you wanted to take some profit and lock breakeven, so then the rest of the trade is free for you
Hey trizone,
If you are having any trouble with the NS/ND candles, the way I remember is that Supply equals Selling and Demand Drives price up.
If you are interested, PPF posted a fantastic indicator that gives an alert for any upcoming NS/ND candles and paints them on the screen when they confirm. Quite a valuable indy to make sure you donāt accidentally make a mistake. Go to search at the top of the page and search on NS/ND or PurplePatch Forex. He is very knowledgeable. As for Steves comment on Petes videos, I couldnāt reccommend them high enough
Pete, Great webinar! I just started this thread and VSA about a month ago. Iāve read through āThe Undeclared Secrets that Drive the Stock Marketā by Tom Williams and I have read through page 270 of the predecessor thread to this one (1500 pips per monthā¦), and Iāve started viewing your videos. The webinar really helps to get the book, video, and thread principles to āgelā. I can guarantee you that I wonāt remember all that you covered; Iām just too new at it to get all the details at once. But I got a lot out of the webinar, so thanks very much.
I opened a practice account yesterday with Forex.com and couldnāt find volume. So I asked them where it is. Got the usual answer that there is no true volume. When I told the girl I was studying with a group (you) who uses tick volume successfully, she just reiterated that it couldnāt possibly work. Lol, closed mind.
And speaking of BSā¦Iām really believing this less and less over time. Referring to Banks:
āThe big banks are the primary price makers in forex. [B]That doesnāt mean, however, that they can move the bid/ask strictly of their own accord[/B]. They have to react to the demands of the market. The big banks are in direct competition with each other for transactional flow business, and thereās so much pricing information available to customers these days, that banks cannot get far out of line with each other or risk losing business.ā
2 ways to manipulate price. Taking large trades, that are planned to fail for a greater reward, or just plain manipulationā¦price movement that is not a result of trading activity. You be the judge.
Yes, it can. Most often, smart money acts in synch with each other, however, there are times when that does not happen and a big player (one of the supposed SM) gets nailed tot he wall. Did you happen to read about the $2Billion dollar loss made by JP Morgan in a 40 day period. Google $2 Billion Dollar Loss and have a read. Truly stunning, but that is an example of when SM gets it wrong. Notice also how May did not make too much sense in regards to ānormal VSAā Apparent climactic volumes not stopping the down move on the EU. Fear about the Eurozone was hitting fever pitch with the Greek elections and the unknown fallout. Looks like it nailed more than the herd that month (Yes, May nailed me as well).
If I did my quick math right, thatās in the tens of millions per second. Not really much when were taking about quick stop hunts and such. Anyway, I thought it was a good topic for discussion. No trade todayā¦holiday, but figure I will be looking to buy low tomorrow, weāll see.
You will see that I marked up a climactic candle. prior to that, there was another high volume rejection. The candle following the āSVā marked candle was a bit indecisive, but did close bullish. However, I was a bit nervous with the still pretty high volume and subsequent amount of sellers there still. As you see in the chart, this stopping volume failed and the price kept going down. This was a repeat throughout May, which nailed a lot of traders. I lost nearly 5% in May myself. 1.6% to go and will have covered the losses in May
I hope the chart and explanation helps. If not, ask again and Iāll see if I can help
