Two parts answer from me, first part is you nailed it; you’ve skimmed a few posts and watched half the videos! Pete goes over where to be looking for high volume & where to be anticipating No Demand and No Supply.
Legit answer, If you had price moving up to a Resistance Level on lower volume, it more than likely indicates a lack of selling. But a lack of selling doesn’t mean “they must be buying then”…
I’ve only recently re-read this forum (skip through until there’s a post by Pete) and took notes, and watched the youtube vids. Well worth the time & effort imo.
The second part of your post is what I find confusing. I guess I’ll re-watch some of his videos to see if I can better grasp the concept. Thanks for the insight.
My point in my initial reply, is that a sign of no demand or no supply at support/resistance really isn’t enough. You want to see high volume to see buyers or sellers coming in, then a sign of no demand/no supply, say in this example, sellers, then a sign of No Demand, then you want to actually see the sellers reveal themself (bearish candles), and then the last puff of No Demand is a safe spot to get in.
So it’s really a combination, on sign of No Demand or No Supply at S&R isn’t enough (imo).
Got in around 65 Took half off at 34 and the rest off at 19 on U/J. Entered aggressively due to the amount of confluence. Usually I would wait for the Petefader’s good ol ‘push thru’. VSA & Trendlines/Channels is the best!
Just doing my weekend review of the week, the white arrows highlights buying/selling climax & pink cross-hairs show confirmed stopping volume, this is the EURUSD with range/trend lines drawn on the 4 hour chart, almost a perfect setup every time stopping volume is confirmed on a trend line?
Hey guys, a bit of a query for everyone actively trading this method. If you’re watching a few pairs on the hourly timeframe, how do you decide which one to trade on the 5m chart? Do you use a checklist of confluence, or you only trade with the trend? Interested in what everyone does.
I personally have a checklist of confluence that includes the trend and for me I want to see price react in certain areas indicated by Higher time frames. This means I may not trade some days as price is not in a place I deem on the ‘springboard’. I also use news as an important filter. Big news days usually mean big moves. Sometimes you miss out on a nice monday move as it usually has a lack of news but friday close and weekend is usually to blame and I try and take it into account.
I personally use a checklist myself. Before that checklist is even considered, however, I analyze the the last 3-6 Daily bars with candlestick patterns. Harami, doji, etc. That doesn’t make or break my decision down the line but it puts my perspective either bearish or bullish from the onset.
Once that’s determined, I zoom into the 4 Hour to see if things are still aligned with the Daily as well place more detailed support/resistance, trendlines, patterns. Sometimes the Daily and 4 Hour can send opposing messages, in which case I steer clear and just observe.
After this broad view is established, I go to the 1 hour where the real meat is. From there, I try to build a case to go long/short. But again, only the ones that are aligned with my Daily and 4 Hour perspective are traded.
I mostly draw channels/trendlines, Murray Math Levels, S/R areas and former S/R areas (with wick areas like Pete) on the higher timeframes not going below the Hourly (Becomes too messy). I then look at H4/H1 to try and establish the phase we are in. The hourly (and sometimes M30) is where with all the confluence lined up I can look to trade. I try to think ‘Is this hourly bar important in the context of the wider picture?’. Then its down to M5 for finer entry. Another thing I try and do is look at the bars one by one on the hourly as it approaches certain key lines to get a bias on whether the line will hold or fold.
Seems like we’re all on the same page, I’m looking for on the 4HR and 1HR:
Stopping Volume,
Objective Trend,
S&R,
50ema & 50/61.8 fib,
Then from my basket of 6 pairs, picking out the ones with the most ticks in the boxes. Not sure if this is over-kill, but got me in a nice AJ entry this morning
I believe my 10 charts is overkill. As long as I update every night and morning accordingly, I feel as if I can handle it. If the trade forces me to put my bias into my analysis, it’s immediately discarded. Clean, confluence only.
Yeah, we’re pretty much all top down analyzers. Best way to keep trends in check.
Depends I guess, is this 5 pairs, 2 charts per pair? For me I’ve got 6 pairs, but my Yen/Aussie pairs are really only for the morning session. So 4 pairs are active at the London Open, then it’s going through them.
Pete goes over where to be looking for high volume & where to be anticipating No Demand and No Supply.
