Hi guys
For a VSA setup would you consider a ns / nd candle showing up but, although with lower volume, the amount of volume is still substantial to still be valid?
Thanks, though I could only assimilate a few information out of you post. Could you give me any suggestions regarding my investment in binary options. Is forex trading and binary options same? or there is a difference? What is this â60sec- 60minâ withdrawal function? I have been trying to get answers⌠How binary options workâŚeverythingâŚ
Hey Jenx,
Would be great if you could possibly post an example of what you mean. In my opinion, the volumes need to be compared to the relative times etc. For example, NY open 1hr candle will always look pretty darn close to the highest volume of the day, so same time previous days can be useful as well to determine if it is high volume or not.
On low volume though, such as in Asia session, SM can manipulate the price easier so that it is where they want it for London and NY sessions. Often, you can see a large move on very little volume in Asia session.
Absolutely no idea on Binary Options ⌠Sorry
ok so I decided to try out Myfxbook since itâs all the rage lol. These are the setups I got following requests to start it up. (mirroring my live account on demo I had which happened to be 5k).
https://www.myfxbook.com/portfolio/petefader/488440
I added notes next to the trades in the history. You can check that the setups are valid on your charts.
Am I going to continue? I donât know. The mental state of a trader is as important as his strategy, and I donât want it messing with my head.
Very true Pete.
It can be both a blessing and a curse. I like to have it myself as a check on my own ego, as a number of others have access to mine and I cannot hide mistakes or boast that I am a pro trader. It fairly accurately shows me as a learner still, but one that is getting much better as time passes. Look forward to seeing it with the setups I donât see as another possible learning tool and hope it is good for you as well, without providing unnecessary distraction.
Knowing you for some time now though, I believe your ego is not something that needs checking on :57:
Hi Tass
1st pic is the H1 on EU today showing stopping volume.
2nd pic is M5 1st arrow shows NS candle with lower volume than the previous 2 but still substantially high. I entered long at the confirmation (2nd arrow). I then started having doubts especially as a ND candle turned up a bit later.Remembering what Pete says about " The phase is your friend " I cut my losses at the 3rd arrow. Then according to the law of sod look what went and happened! LOL Anyway like I say "Itâs not what the market does that matters, Itâs what YOU do !
If a I mayâŚlook at the two high volume points to the left before you took that entry. What do they say?
The first is a buy climax/supply coming. Whatever you want to call it, it classic weakness.
The second is aggressive selling. High volume down bars that continue LOWER.
Looking at the stopping volume on the 1hr chart (which didnât show up in your post), it didnât confirm the stopping volume with a bullish reaction. The only time Iâll trade before the 1hr confirmation is if the setup is looking perfectâŚwhich it wasnât due to the weakness i pointed out.
Cheers Pete
I need to pay more attention to what HAS happened and not just what is ! Just had a look at that H1 and youâre right. I had forgotten that bit! :29:
Iâm glad that jenx posted that trade. Sometimes the best explanations come from what are failed trades/bad set-ups rather than demonstrating what to do on successful trades/perfect set-ups. I think this was one of those explanations. As always, great stuff.
Well done⌠good luck with it.
I am not very familiar with myfxbook and it is probably very simple, but I cannot locate the trade notes in the history section. 
Anybody know how to access the notes? Do I need to signup with myfxbook?
Notes will come when/if he gets time to do them.
What may be of use for you is to locate where he took the trade/s and try to work through the reasoning behind them. That would be useful for discussion here and a nice learning tool for everyone.
Maybe you guys canât see the notes then? Cause I added them. If I mouse over the little speech bubble on the far right in the history I see it.
Hey Pete,
When I look at the history section it does not show bubbles beside each trade; just a sample bubble at the very top, which if you hover over creates a âsampleâ popup.
I am guessing maybe the bubbles beside each trade are only visible to the account holder?
âŚI guess so.
Today was not a day to tradeâŚ(Monday,US holiday). Coming off this type of PA Iâm not doing any analysis until I see some Tuesday London action. Letâs seeâŚ
I agree Pete. Watched the charts a bit but nothing really came out from it. I was aware it was Presidents day over there, so was assuming low volume and a day of nothing out of it
Hello everyone,
Just wanted to share some overnight analysis on EURUSD.
DAILY CHART
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Up trendline: This trendline has been tested several times (depending on whether you count number of days tested or number of âeventsâ) from as far back as November 2012; extend back and it also touches the July 2012 low, though I did not include it here.
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1.3300 Figure: This price level acted as resistance in April 2012, December 2012, and when exceeded began acting as support in the new year. Price has consolidated and bounced off the 1.3300 area several times and is currently conolidating just above it.
1 HR CHART
This chart shows more clearly the action going on around the 1.3300 level; clearly this is a significant price level.
Interesting to note that drawing a fib from the January 4th low (below 1.33 fig) to the February 1st high (above 1.33 fig) results in a 50-61.8 price level that hos confluence with the above analysis.
Conclusion: While the above does not predict the future, there is a high probability that we will see price take off from this area. I will be watching for accumulation at this price level for confirmation.
Yep, like I said in the last video, E/U would most likely consolidate in this areaâŚsimply due to the consolidation last time. I hoped we could avoid it. We do have some confluence around as mmmahdi pointed out, but volume has to pick up and show us something. This is like a major holiday now pa wiseâŚso Iâm waiting it out.