Most brokers platforms have a volume indicator. We are using MT4, very standard. Get yourself a demo account from IBFX…google it. If you are a newbie…don’t worry about a live account. Practice on demo first.
Since you guys want to hear management, I took off another 1/3 here at intraday 50 fib. +35. The last 1/3 still on at BE, no TP set. High volume at 61.8 and I may lock some in but this last piece is where I give it room to run…usually. The analysis doesn’t end once I’m in a trade…exit is based on the same principles.
Trailing manually behind the last 1 or 2 5 min candles, 55 pips locked. I had no reason to do anything sooner, but it’s acting “climatic” now.
Thanks Pete> Will take a look
Caught my trail just now. 1.3317 +63 on last 1/3, out.
Very nice trade Pete. Altho I have somewhat analysed the market correctly you’ve been able to pull twice as much pips out of it… 
1/3 at +17
1/3 at +35
1/3 at +63
Total = +38
If you put your SL a few pips above the upthrust, it would have been about 20 pips away from your entry.
1:2 Risk:Reward ratio. I like it 
Yep, SL a few pips above the top. This was the usual way I’ll handle a trade. I entered just before news so I took that 17 pips and locked BE pretty early to limit my risk exposure even more in this case. Normally it would be at a level where demand was previously shown, a fib zone, or a sudden sign of trouble (demand).
Second target, 50 fib is an obvious one. I always respect the fib. Even without a volume increase the probability of a reversal increases.
Once I had a fair amount banked [I]I gave it room and did not touch it until the chart gave me a reason to[/I], even at 61.8. Realize, risking 2% with a 20 pip stop, that last 1/3 alone gave over 2%.
Interesting. Do you always set stop to BE when letting go of your first 1/3?
Not always. You can get kicked out of a perfectly good trade by locking BE to soon. All I can give is guidelines though, it’s the chart that tells me ultimately what to do. The art of the exit lol. It’s a balancing act between:
- Reducing risk.
- Taking profit at opportune times.
- Trying to ride it for whatever the market will give.
That’s why I scale out. The longer you practice VSA in general, the better you get at predicting price, as we know. That goes a long way with exits as well. Don’t stop analyzing once you’re in the trade.
Nice work with the profits there guys. I saw the weakness there, but went to be about half an hour before the entry. You get that. Hoping for a nice setup or two tonight for us
Jeez Pete, it seemed like you were looking over my shoulder with that trade. Like you, I entered early @ 1.3384 and took profit @ 1.3367 (17 pips), Re-entered @ 1.3366 after pullback and took profit @ 1.3353 (13 pips). So a total of 30 pips for me, I was going to let it ride to the 50 fib like you but I had to go out and being a newbie, didn’t like leaving my trade on. I am happy with 30 pips though.
Just wanted to say big thanks to you for sharing your knowledge. For me, what you teach here is the missing piece to my forex puzzle. Looking forward to becoming a better VSA practitioner like you guys.
May the phase be with you Pete.
John
Texbook setup on EUR/USD M5 right now. High volume reaction in fib zone followed by confirmed NS.
UPDATE:
I’m not posting this now because it worked, but because I was kinda busy with the trade. But I guess you can tell that I really did enter the position as marked.
So we have some strength coming in and volume increasing into the red zone (marked with white rectangle). The price DIDN’T close BELOW the zone, altho it kinda seems like it. As soon as the price left the area it showed clear NS (marked with little yellow square and white circled volume bar). I entered when the price broke the high of the NS. Risked 1%. SL below the FIB ZONE (below those wicks) - 25 pips. There was no reaction to the higher fib zone, it shooted through. I closed half where marked. Trailed my stop for the rest. Will watch out for the natural resistance of last high swing.
Questions and comments most welcomed!
UPDATE:
Closed the other half for +60 pips.
There is some heavy distribution happening in the big H1 fib zone… I must be patient tho.
Wow, didn’t that jump. Looking at the volume and the reaction atm, we may be seeing climactic upthrust. Over a 20 pip pin on the top!!
Nice catch there SagiCZ! Even though I think it was kinda risky. Accumulation was not yet confirmed and we did se Re-distribution yesterday. I was watching this aswell and my thought was another test up to support and another short from there.
This does not look very sustainable though so I hope my prediction is right and we’ll get that short!
Danny K, I know it was against the phase of H1. But the phase wasn’t clear mark down nor clear distribution and I risked just 1% so that was kinda OK in my book. Of course I like trades where everything plays together better. Maybe it wasn’t a text book trade. Sorry about that. Thanks for your thoughts Danny.
I will be definitely looking for shorts if the price doesn’t close ABOVE the big H1 FIB ZONE .
Yes, I believe shorts are the order of the day. Just got to wait for nice ND’s and confirmation. As a matter of fact, an ND has shown up, but current candle is bullish when we needed it to go the other way.
Sit and wait …
And cancelled. Patience will be rewarded.
Got a ND and confirmation. Unfortunately it was into the fib zone (50-61.8), so didn’t short it. Bounced off the 50. Maybe a double top (hopefully) then ND/confirmation.
It’s looks like you know exactly what your doing, including acknowledging the extra risk of going against the phase…which yes, I do on rare occasions. Congrats.
good one.