Haven’t seen much that I like today, but watching the G/U closely to bottom out here. Long could develop. Patience.
Nope, I’ll pass. Maybe you guys will find something for NY but…eh. Like I say, if you never have a day that you don’t take a trade then you’re probably over trading and impatient. I’ll take a fresh look tomorrow.
The Chartist’s Prayer.
May my assessment of today’s stock market action be based upon facts, all of the facts and nothing but the facts. May I not be influenced by fear, greed or the ill advised comments of others, which may be made in their interests and not my own. May I take into account the past history laid before me on this chart, and may my assessment be based on facts and my knowledge. And please,if possible never on my emotions. Amen :51:
Its great that you’ve put this Pete as you start to wonder if you’ve missed something.
LONG EY. Not the best day but I like the look of this trade. A retracement back up for the EY. Pinbar high volume on 15min / 1hr. Moved to BE just now. Nothing left to lose.
EY Long Trade worked out perfectly. I exited 40% +11 60% +21 after hitting 50ema. It looks like it could still go for plenty more.
Morning All,
I was analyzing the AUD/USD pair last night just for my own learning.
The daily has been in a down trend for quite a while.
When analyzing the hourly I started to get a little confused. I have attached a chart below with my concerns. Any help would be much appreciated in helping me clarify things when trying to analyze whether SM are still bearish or bullish.
Many thanks
$CHF Long after double bottom test and two high volume pin bars in the recent hours. If it wasn’t for the upcoming US news I’d take this trade. I may still do it with a much smaller trade size after a break and hold past Fib level .38
Glad I didn’t take this trade, it went the complete opposite direction.
UK100 Short after watching extremely low volume on the upmove (Weakness). Then an increase in volume and a strong move down I entered. The FTSE was looking like it could break the 6300 price.
- I waited for a break with strong volume to enter SHORT. Exited after 10 pips,
- re entered risking 50% of previous trade wins, completely messed it up with bad exits as I lost faith. Still at profit from first trade.
3)Re entered 3rd time after break of 6300 as predicted, and candle closing. - Just moved to BE
Results of my short of UK100 as shown in previous post, went exactly as expected exited just after the 6250 round number (6240) +51pips
Hi Pete,
Just wondering as your live trading sessions are on Tues, Wed & Thurs would I be right in assuming that you don’t trade on a Monday or Friday?
Many thanks 
Does anyone trade the futures market with this strategy? I’ve tried applying this strategy to the futures market, it doesnt work. I have no problem applying it in Forex…
hi peekinside
Where is the link to the live session or the website?
thanks
Hi All! It’s been a long time since I’ve posted. I took a new job a few months ago which requires some travel and a fair amount of travel so it’s been hard to find the time. I am enjoying it very much though so that’s good news!
Anyway, yes of course you can use this method in Futures. I know that for two reasons:
- I do
- I actually teach VSA and this method with a 50/50 focus on FX and Futures at University
Specifically I focus on the Dow (YM) as I prefer its tick/point system compared to the ES (I can’t stand $12.50 increments, that makes no sense to me). The important this when trying this is that you have to start by truly being an expert at this method in FX first. The reason is because when you can do that, you are truly UNDERSTANDING how to read a market, versus just applying a method. When you can truly read a chart/market and understand what SM is trying to do, you can apply it to any trading vehicle. In the past two weeks I was able to call both a large drop in the YM and subsequently the significant rally that followed. I did this in front of the class that I teach, and it is actually recorded too. I am thinking of posting the audio to YouTube but am not sure yet.
Further, when you do apply this to anything other than FX do know that you will have to tweak it. For me, when I analyze the Dow, I start with the Daily. This is contrary to FX where I do glance at the daily, but don’t get granular until the hourly. I get granular on the Dow daily. Then I zoom in to the hourly and M15.
Have a look at the Dow last week. I encourage you to look at the daily to give you clues as to what was happening, then zoom in and see where you may have gotten long based on your bias. If you post some charts of this analysis I’ll gladly take a look; that is as long as Pete is okay with it since it is the Dow, not FX. I think it is a worthwhile activity to show the true versatility and success of VSA/this method.
I hope everyone is doing great!
Thanks,
Ryan
Hi LetterB,
Find the link below to sign up to Petes Live trading sessions.
Regards
Nice easy E/U short today. Crazy times since last week generally in markets, but it’s irrelevant. Repetition, repetition.
QUOTE=petefader;662400]Nice easy E/U short today. Crazy times since last week generally in markets, but it’s irrelevant. Repetition, repetitionThe only entry I saw was the 8am GMT candle with high volume presumably that was the one Pete was talking of with a ND on the 5min at 9.25 GMT so perhaps that’s the entry he was looking at.Would be great if I new for certain.
Master Jedi Ryan! Good to hear from you. I’d love to see that video. Please do…post, share whatever you want. :35:
I"ll answer this as some don’t want to answer us plebs,I think he said he trades tue wed and thurs,if an opportunity arises he said if you trade mon be carefull and avoid fri. hope that helps.cheers.
I’m really glad to see more futures’ers around here. As PipDaddy said volume is something you can apply to any market but it’s worth pointing out that futures are [U]the most[/U] technical instrument out there. The volume is reliable, taken directly from the exchange, the market is thick and volatile. That would be great to expand the discussion by few more instruments. I’ll be happy to share some thoughts and my views on the market myself.