Cool. As long as it’s based on a logical methodology, the end result could be interesting. In the example you just gave, you could be buying during distribution but at the automatic support, which is often predictable and rejection on high volume there suggests higher prices will be revisited before anything else. I’ve considered that trade but never take it lol. Sounds like you’ll have it worked out in time though. Experience goes a long way.
Hi Pete,
Thank you for your reply.
It looks like price may retest the 1.37500 area again. I will be waiting in the bushes with my sniper riffle waiting for SM to reveal their hand.
Can I ask if you use the Daily TF at all for your bias or do you solely concentrate on the 1H TF?
Many thanks
peekinside
Yes, I start my analysis on higher TFs before anything else. I’m looking for the overview and to have some perspective on where things are. I draw any s/r, fib levels in play and look for simple patterns, double tops/bottoms, simple wave count, head n shoulders etc… Look at my last video. I started with a fib zone on the Daily.
I ended up not trading today but I’ll be on tomorrow.
Much appreciated.
I will continue to watch and study your videos. They are very informative and make a lot of sense.
Thank you
Could be nice provocation below at the euro. There is already lots of volume accumulated, but the background is mixed.
Hey Ryan,
I’m thinking about looking at a few more pairs (as now I go through a bit more of an elimination, so out of 6 or so only 2 would be suitable to trade that day). What are your thoughts on ej vs gj, do they move quite differently?
Interesting that you’ve got the Aussie and Yen pairs in there but for NY trading time? (just curious about that, still guessing they move a lot)
At the risk of being that silly kid up the back of the classroom Pete 
Say for example you review the 1HR chart and see signs of selling (on the higher volume candles) for the previous day, but the trend is slightly up (50ema + shsl), do you skip trading GJ that day as the trend is ‘up’ but the smart money is pre-positioned to sell?
(the day in question, price has shot up, but i’m guessing good news for the pound did that).
Just wondering whether I should get all my ducks in a row (smart money volume + trend) before considering a pair to trade for the day.
edit: thinking about this, it’s probably a question of which is more important, smart money/volume or price trend. I’m guessing that smart money can be wrong on the odd occasion?
mixed bag for me on the euro, high volume on Tuesday (buyers) at the same price we’re at now, high vol sellers yesterday, a few buyers today. Sitting on my hands on eurusd for now.
E/U looks like sellers need to dry up more before any up move. A/U could be climaxing the trend on a fake break, g/j i’m in long off strength on pullback…lack of selling at high price besides news spike on 5 min then buying/NS.
G/J didn’t work out on this one. Was a tough charting day overall again. Usually this time of year is better than this…but that’s the Month for me. A bit slower but profitable.
From the pairs I’ve noted (eu, gu, gj, aj, ej) the major move during NY was with the previous day’s smart money, except for the GBP pairs which got a bit skewed by that news release. Still though, really only looking for 4R (or any r/return multiple) consistently each day. AJ looked a treat!
EUR/GBP has hit some support.
61.8 Fib retracement
3rd touch of ascending trend line
Will SM show their hand through volume and price action and give us a clue to which direction they want price to go?
Patience is key.
Hello been reading this thread for 4 months now . Trading demo rite now. Took this long of stopping volume of the daily fib retrace.then went into 5 min; confirm stopping vol plus no supply
Nice trade. I use Trade Interceptor for mobile too, it’s a really good platform for mobile devices eh?
On this euro trade, it’s worth noting that it took off from yesterday’s low. I notice that with a lot of pairs, the “Breakin Pullback”, where price comes back into the previous day’s range, pulls back, then really moves.
Hello been reading this thread for 4 months now . Trading demo rite now. Took this long of stopping volume of the daily fib retrace.then went into 5 min; confirm stopping vol plus no supply[/QUOTE]
Tped on 1hr fib. Knew sellers gonna come in as seen on high vol rejection of fibs. In addition, volume decreases during these time period. Lower probability of bulls forcing thru.38 pips in the bag tho
Hi Zincr8te,
Lovely trade.
It’s a great feeling when price does exactly as you predicted.
Well done buddy.
I don’t often trade it but someone pointed out to me the u/cad long setting up now.
No trade for me today. It’s ugly out there. No clear consensus among SM. It happens.
euro dollar for me today, a fair bit of selling the previous two day’s around yesterday’s high, waited for it to test and reverse from there then jumped into the 5m TF, happy days Finding the 14ema to be useful to make sure I’m getting good value on pullbacks + a lack of demand.
Out of interest Pete, how long will you spend at a time burning the retinas looking at charts?