Wise words. I’m not new to vsa and have used nd/ns for months now as my entry pattern. This thread helped me to spot the phases of the market, which I feel like I’m doing quite well.
Now the next step is learning when to switch timeframe: I used to enter a trade too early, but also happens that I’m late (yesterday I just scalped few pips from usdjpy). At the same time I’m trying to learn all the nuances in phases.
I’m also weak at trade management, as I tend to exit too late: place a target and see price go through it easily, next time don’t place it and see price back to break even… I feel like I’m doing all wrong in this regard.
All this to say it’s not easy. Having a good winning method is just a first step, mastering it is all another matter; but at least you know what you have to do.
Btw, out of town today, will be back later and maybe will comment the session but no trades possible for me.
Took A/U long today 13:28 gmt. Had a little scare with Bernanke yapping and numbers coming out, but hopefully my long bias…pre all that crap, will prove correct. Aus market open…either we go up or I’m out at BE .9165
I did take a bit of profit off so as of now my winning streak is at 8, going back to July 2nd. :19:
Yeah the majors have been moving against the dollar recently, I narrowly missed my long entry on the Euro, 1.8 pips to be exact lol. Would you say it’s wise to never trade on Monday/Firday? I feel slightly limited by the 3 days.
I have a bit different schedule here. On Mondays I usually start when NY starts, and on Fridays I stop when NY starts. I also like to trade during NY lunch time (I’m aware of the fact that volume shrinks after London close).
Yesterday was a good day in the end, I thought I couldn’t trade but when back it was indeed NY lunch time, and I took advantage of demand showing up on EURUSD, right on the 50/618 FIB area.
I didn’t get a true NS setup actually but many M5 bars looked like NS bars before closing bullish in the last seconds, so I pulled the trigger at 1.3080 and took profit at 1.3106. It was a good choice, but why this target? Well this is still my weakness, I saw some wide spread M5 bars in my favour and closed after the first pin, also because it was getting late.
As for today, still investigating mainly on EURUSD, which is in this big reaccumulation phase:
Not never. I took E/U long today off fib, easy setup. I would avoid non farm Fridays and generally just be more picky, less aggressive. Mondays can be slow to warm up and you often see price just floating around or even going against the background more often.
Very good one. Don’t know if you’re still in on this trade. I see some supply showed up on the top today, and I would interpret the current range (M5) as a mini distribution. I mean, should I bet, I would say it’s going to close lower today and we already hit the high of the day…
I’m new in Fx, but not to the world of investing and don’t really wanna get (much) off-topic, but just wanted to say I will be seeing all the vids and reading all the posts and hopefully becoming an active member in this thread. If you guys ever trade together or something like that, let me know.
(I’ll remove my post in a week to keep the thread clean if that’s ok with you peter)
The question is usually the other way around. VSA originated in markets such as futures where you get actual volume traded as opposed the volume of ticks that we are using. Bottom line, it can be used for any market.
Yeah that’s absolutely true. Have you ever traded futures? Also, should one take into account the fundamentals futures more so than they would in the FX market? Or is it not really needed when you have volume, supply/demand…
Saw the videos, read the threads, did the work. All in all, I’m very glad to have found you guys (searched “Volumes Fx” on google after not being able to find an indi for it with my broker), even those who are no longer here but were very active at the beginning and want to thank especially peter and tassie. It was exactly what I was looking for, because I was looking for the major force in play I could feel but not quite put my finger on it.
I’ll start posting live the setups of some trades I take who go accordingly to what is taught here to get some feedback (don’t hold back, my mom says I’m a big boy, I can take it).
I’ll trade from 7 to 16 GMT and the open of Asia. If someone likes redundancy and team “confirmation” like I do say so (maybe we can make markets one day ahah). My objective is to get a 70% strike rate (meaning just getting in when “I’m screamed at” by the chart) and hopefully make Fx 10% of my portfolio.
I know it’s not usual to talk about fundies, but I need my 5 posts
Besides, I think that if we know what the herd is most likely to do, we can expect that the SM also does, and be prepared to ride along when they show up.
Tomorrow I would expect the yen and eu to fall (abenomics continues, winning the upper house and Portugal wasn’t able to sign the national salvation pact) and will be waiting for that stopping volume and bullish reaction on the H1 T/F.
Zynn says he expects EU to fall, as I analyze the GU, I see the correlation.
From the daily chart, I see we are about to hit the .50 fib, a level which acted at a resistance already once before highlighted by the box. Starting from the bottom, it appears to 3 waves up so maybe a 4th wave down could occur sometime this before another push up.
I want to give my opinion on futures. If we are talking about currencies, there is no need at all to look at fundamentals, at least for the intraday trades we are trying to do.
EUR futures replicates, pip by pip, EURUSD trends; the only difference being that futures are 5 pips higher at the moment, and this difference will shrink with time and be zero in September, when the current contract expires. Not a big deal at all, also because this process happens with a geometric progression, so it will mostly happen when you’re close to expiration; and anyway, 5 pips is not a lot in one day, let alone in 3 months.
I think fundamentals can be important for futures that are mostly used for their original purpose: risk management. Think of a farmer who sells his corn at a future date, for a fixed price.
As for currencies, given the huge forex market, I guess futures are barely used to cover risk in the real economy (example: european firm is going to receive a payment in USD in 6 months), but mostly by the same forex brokers, to balance their risk when most of their customers are long (or short) on a currency pair: that’s why there’s no difference between spot and futures behaviour.
Good Higher TF charts guys. I suggest you include your current VSA analysis on the 1hr and perhaps lower to go along with it and give a directional bias. When I see confluence of S/R suggesting something I still let Volume lead the way.
Don’t want to leave it over the weekend.
