It is now testing on low volume, so longs I think are the order of the day, note though that this is only my current view, I may be wrong and my view may change too!!
Forex is an ever evolving story!
You have too much interference on your chart, you are only coming through in waves my friend!
CCI is total rubbish and momentum indicator is worse, Bollinger bands, Oh dear, VSA doesnāt need crutches!
purplepatchforex: I finally have MT4 working, so next step broker to be chosen. Iām watching along with you guys to see if Iām correct in my analysis 
Would I be correct in saying that we had an inside close on the 1hr, and now we are seeing preliminary stopping volume appearing on the 5 minute at 9.20 and 9.30 today (sort of gliding into a bottom (potentially) by the looks of it). We are seeing higher volume at the bottom of the 5 minute range than at the top of the 5 minute range, which implies accumulation is correct and in tune with that seen on the 1hr. However, it is still high volumes being found each time it tests down, so a lot of supply still present, albeit a lot of demand soaking it up. To establish a mark up, we would want to see a no supply bar in the region of 1.32807 and above.
How does that sound? All of this could of course change, but that is my analysis of the situation and what we would need to see for a nice trade.
my previous indicator, sirā¦ before met this forum suggesting VSA,ā¦thatās why i am called nubieā¦
bollinger cos sometimes i do scalpā¦
Every move up after strength is on low volume. Demand is being absorbed for further down move. Will probably enter on a ND at the bottom of this range.
Edit: Also havenāt seen a proper stoppingVol/climax yet.
A second thought: Why do they allow you to change currencies with scroll wheel in the order window?! I went short in gpb/cad on that very first test of s/r. LOL
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Completely agree with you. I havenāt seen much of anything indicating strength when taken in context.
However, Iām watching the 1.33529 level. Thatās the low for November 25-28, and Iām thinking it will provide some decent resistance.
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Hope I dont make Pete mad with this. But there is an option barrier at 3250 that someone is protecting, which explains all the demand just above it. Im not playing with the big boys hereā¦but once this close it usually gets taken out. It explains the crazy price action here, we are watching a battle. Just say the word Pete, and I wont ever say anything about these again.
Do you mean on the 5 minute to match the 1 hour? Can you give more detail about this please, so I can digest what Iām looking at. Thanks.
I dont want to speak for him, but I know Iām looking on the 15m, 30m, 1H to gain this larger overall trend. The 5m chart seems to be in a definite downtrend as well. The 1H chart probably shows best what Iām looking at. We may have some decent intraday up moves, but long term it appears to have lower to go.
Hopefully Iām reading it right.
This is my explanation, and if Pete weighs in and corrects me I will defer to him.
The 1hr and the 5m both show high volume down bars that are pushing through support. High volume usually means climactic action, but when you are pushing through an old top or bottom it is quite possible it is just absorption volume and the move will continue. Really there is no way of knowing, you just have to read the following action to see.
Those bars are the highest volume so far. Since I accept them as absorption (on both the 1hr and 5m), that means we havenāt seen a climax yet.
agree! my better volume 1.4 indicator showed 2 white volume spikeā¦but it seemed weāre not ready for reversalā¦still in accumulation areaā¦itās my thoutght as newbieā¦
I am still just a student, and seem to learn something new every time Pete posts something.
To be honest I really dont understand why price has sunk this low. I totally agree with accumulation and longs are the way to go. But what I posted is just what I see in the chart at the moment. Im guessing once this battle is over with and 3250 and stops below it are taken out we will see it go up. Also, we are at the bottom of a trend channel on the 4hr. I expect to rise from here.
Is it possible that different groups of SM are divided and fighting it out here?
Or, are they just trying to get lower prices with a fake breakout from that channel?
I wish SM had a forum we could read.
compared to last thursday or friday, todayās volume seems lower. meaning weak market? considering this, SM not really get in to the market?.. o, brother where art thou?? :17:
I think you are right on both of those questions. But we have to remove ourselves from being biased either way and wait for the VSA principles to play out on the chart and react accordingly. Must be patient, and see the demand come in and the supply leave before taking any longs. (talking to myself here too)
Thanks, HR4. Itās almost as if SM, having bought to the left, is ready for a push up, however, the market just isnāt ready to go up. But SM doesnāt want to let it fall any more. Just a thought.
I think the Smart Money is waiting, which would explain the relatively light volume. Letting it fall down to previous levels, and then step in like gangbusters.
Here is the 4HR Chart, showing previous resistance at 1.2259.
Wonāt be long now. Or I could be totally wrong 
Oh where did this come from? Have you ever even read the book? I mean itās a foundation on which we are trying to build here. Donāt ditch it :).
Lower volume does not mean weak market. It just means smart money is inactive. For some reasonā¦ Do you have any ideas?
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