Thank you very much for providing feedback and for the great link!
Well I did call it yesterday also in this thread. This is range contraction coiling for a range expansion. Which way? Does no one know what the news will be? Yes someone does, and with deep pockets and they have a brother in law who works in London who also got long. This is the 1h chart for this week. Seemed the 1h was indicating strength. I’ve marked each vol/candle peak. Looks like strength to me. The rest of the noise is just eating up supply.
Correct me if I read it wrong.
The skill is when you entered. As you see on the chart, if you entered early, you (and many others) would have been whipsawed out just prior to the move. People often can be right, but miss out because of entry time
With my limited VSA knowledge, I’ve been trying to understand the basic concepts. So here goes,everything is included on the chart…
Just something to note…
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Every Wednesday/ Thursday, volatility tends to increase… seen on the charts vs the rest of the week. Might be worth looking into, are the markets setting up for Friday’s Thrashing of The Herd?
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Giant whipsaw that bit both bears and bulls…Coincidentally on the last day of the month :58:
Hi guys,
on my way to work (train), hard to live with no internet at home this month.
By a brief analysis of eurusd chart, looks to me like supply is coming in after FOMC. Yesterday could very well have been the top for a while.
Untill it breaks the Daily S1 I won’t be dealing with it, but yeah, we could be seeing a major turn now.
Hi guys,
I am newbie in FX, in VSA – and in English too. Sorry for all the errors, which I will do.
Here is yesterday’s NZDUSD chart.
I should have short, but I did not realize that NO DEMAND. Notised single sign of " the market weakness" (more supply). What should I have yet to notice?
All response are welcome.
I thank correction the English text too.
[QUOTE=“springger;515127”]With my limited VSA knowledge, I’ve been trying to understand the basic concepts. So here goes,everything is included on the chart…
<img src=“301 Moved Permanently”/>
Just something to note…
-
Every Wednesday/ Thursday, volatility tends to increase… seen on the charts vs the rest of the week. Might be worth looking into, are the markets setting up for Friday’s Thrashing of The Herd?
-
Giant whipsaw that bit both bears and bulls…Coincidentally on the last day of the month :58:[/QUOTE]
I think VSA likely showed us the direction of the news this week. Big money got long all week. The FED is a for profit bank too.
I’m not sure why it took me this long to realize, but the Push and Test entry seems like the sure-fire entry for VSA traders. lol I’ve seen the video 2-3 times but thought that was some sort of an optional entry outside of a simple stopping volume + NDNS entry. I’ve also rarely seen any mention of this setup outside of Pete’s video.
I found myself questioning how I will fare with real money because just taking a NS/ND has gotten me into a couple of bad trades but this Push and Test setup really works out most of the kinks. I’ll be posting some entries this week once I get going again.
Best of Luck traders.
Hello Traders. Decided to take advantage of my summer and get some quality trading time in. Jumping right in, I found a nice setup on the GU.
Price started to slowly creep on increasing volume, however, nothing was climatic so I decided to look for a long entry. Found a simple NS show up during an UP move and seized the opportunity. Price has continued upward so I’m just managing it the best I can. I’d say this aspect, managing a trade, is one of my least practiced trading attributes so I’ll be sure to carefully analyze this for future reference.
Hey guys, haven’t been posting much as I tend to trade less this time of year. E/U has turned a bit nasty since the 26th just looking a the 1hr. I am still looking for setups, but being realistic. Yesterday it did give a decent long off fib zone/stopping vol.
If you are looking through your charts and getting confused, seeing conflicting signals and thinking…why does Pete make it look so easy? LOL…it’s probably not you. The market definitely goes through different moods, and it is certainly messy now…again typical of this time of year. I expect very strong trends to come back starting in September to finish out the year with a bang. This might be a good time for study, back testing etc…
Took another trade that has turned out to be pretty successful so far, EU by the way.
I saw price begin to rise into an area where resistance was found to the immediate left, right around .3310-.3315.
The first entry was bold but from the increase in volume at the resistance paired with the wicks formed on the two previous bars made me believe supply was coming in. Modest risk taken there.
I then marked the automatic rally, which was briefly broken before heading back up into the resistance. Another large wick along with the highest volume of day so far indicated more supply had to be coming in to the market. I then took another short to complete my 3% risk. Price has since moved in my direction, already took off a little more than half-profit.
Hi Pete. I know from your videos you say you prefer to trade the euro dollar and during the New York/London overlap and that trading during the Asian session can be a little problematic for you. Right now I’m working a basically full-time job and am interested in trading during the Asian session. What pairs should I use? What pitfalls should I expect to run into trading during Asian session using your method?
Stick to the Yen pairs, E/J A/J G/J U/J. The main pitfalls are this. It’s almost like a mini version of Monday meaning the initial move at open can be testing the waters and not very trust worthy. The best approach is to work off the background of the previous day, not trade against it. Also, after about 2 hours into Asia open things can get very slow until London open. You could find your self sitting in a trade with profit/drawdown and just nothing is happening. That’s a gamble that when it picks up it has to go in your direction, but it’s not a cohesive move. Perhaps shorter term scalps would be better unless you find something worth holding.
I recorded my trading session today with some good explanations, but it’s 2hrs long. I’ll try to edit it down and post it, no promises lol.
that’s two hours of pure VSA knowledge lol the anticipation.
Thank you for your vido’s on price movement. Excellent excellent.
Gp
Thanks! you can split it in two or more parts and upload them.
[QUOTE=“petefader;516812”]I recorded my trading session today with some good explanations, but it’s 2hrs long. I’ll try to edit it down and post it, no promises lol.[/QUOTE]
I’m with these guys. The two hours of alertness is probably good training. Thanks for the response. When you say Asia open, you mean Japan, not Sydney? I’m guessing that is similar to the combined NY/LON session. And looking signs of strength of weakness will be watching what Asia (Japan) is doing during the previous session? Essentially the opposite of what we are watching for the Cable and Fiber. We are watching the positioning of the market moving bankers for that session and not so much with the others.