I would really love some more insight on this, it has been my main impediment to trading profitably. Even when I make a good analysis based on VSA, getting stopped out because my stop is too small, or hitting my take profit with a low risk reward ratio is getting me nowhere.
Possible trade coming, waiting for no demand.
We now have a high volume reversal on the more recent 50 - 61.8 fib.
Waiting for no demand.
Edit:
Entered Short
Exit early after a high volume reaction to the mid pivot and previous support level.
Thx dodge for the heads up. I just entered on the ND. The probability is higher because the market likes to close weekend gaps.
Closed +23 pips due to the high volume rejection of support line. I donāt have the nerves to sit this through. The reaction looks pretty strong. I will stay out until this settles.
Hey guys.
Just a heads up that we have just hit the 50-61.8 Fib Zone from the previous high (1.35677 on Nov 22). Will be interesting to see the reaction to it. My own guess is a retrace to about 1.33344-1.33205, however, time (and volume) will tell.
IBFX volume a bit whacky tonight as well. Comparing between IBFX and GoMarkets at the moment. IBFX 0845-0925 should be ignored.
I agree, something weird happened there. Got disconnected and couldnāt login again.
True that. Iām not sure if this volume was high enough. There is also a ND on M5 but Iām not shorting it yet. Not feeling that good about this short yet. Will wait and see.
It is starting to head back down, but agree that there has not been an entry at all. Time to wait and see what transpires
Good morning, I see you guys are on itā¦Redistribution. Maybe it will fill the gap from up here. :53: I donāt worry about the gap but ya, that will work. Making some coffee, waiting for an entry to my likingā¦no rush.
Just wondering if anyone had good advice on where to trade where there is forex market rela-time volume made available
thanks
Is this from IBFX? It does not show up as a ND on my live account
I locked BE nowā¦I donāt want a news move to go against me.
Edit: and took off 1/3 of my position at 17 pips. A little something in the bank, no risk and going with the phaseā¦ahhh, time to sit back.
My Demo IBFX vol is 453 compared to 445 of previous candle also.
Yes itās IBFX. Mouse over the volume bars shows it was lower than the previous. 441, 438. Gotrader and FXCM are quite clear.
hmm, I guess itās safe to say IBFX is crap today lolā¦it happens once in a blue moon. Thatās why itās best to compare a few.
Hey Pete, could you please clarify this? I can see you entered your position based on the ND. I thought you said that the candles following ND must NOT close ABOVE. Is that correct? Or can we wait for the price to get bellow ND for 20 minutes, like you did?
Iām just wondering how this works. Thanks for response.
Yes, itās just like I said in the video. There was no close above the high of the ND. (price went above but itās the close that matters) Waiting for it to confirm over a few candles is no prob with no close above or signs of strength showing up.
Oh I see now. Ofcā¦ I was blind or stupid or bothā¦ Thanks for explanation. Iām glad I got it right the first time :18: