Supply/Demand, VSA, Wyckoff with Petefader

It was behind by 5-10minutes, but the same thing happened on the EUR/GBP, 14:50 buy climax into 50-61.8 zone, followed by perfect no demand and confirmation at 15:05 and 15:10 for a nice 37 pip short. Correct? Could have had both! :slight_smile:

happy for you all the pips harvestersā€¦:60:

Yep, and that actually translates as a Shakeout. High volume pin on a push and test.
If you took that trade too, youā€™d just be doubling up your risk basically. The outcome would very likely be the same for both trades. If you put half risk on each then, yeahā€¦that makes sense. But, talking about keeping up with the chartā€¦no need to watch it. Plus itā€™s a horrible pair to trade, 37 pips is peanuts compared to what we got. I use it only for checking the relative value against each other without the USD influence.

AAAAAAAAAAAA, I went to have drinks with friendsā€¦ That perfect ND :frowning:

Pete: Thanks, that makes sense. What makes a pair horrible to trade? I assume your method would work on pretty much all pairs. Obviously EUR/USD is one of the most liquid, which is a big consideration.

ozzieb88: You have a visitor/profile message. I donā€™t think notifications work.

If todays setup moved 130 pips and E/G moved 40ā€¦imagine other days. Itā€™s just a very rangy choppy pair many days.

Each pair has a ā€œstoryā€. G/U is the big brother of E/U lolā€¦similar moves usually but with bigger spread and more pips. The GBP had an ugly year PA wise compared to what Iā€™ve seen in the past.The yen pairs have gone to crap this year for trading. I used to like E/J when E/U wasnā€™t clear.

U/chf is like E/U upside down and that just bothers me lol. And, G/J is the ā€œbeastā€ ā€¦I got off that after the crash of 08ā€¦hasnā€™t been the same since. Before 09, it was a great pairā€¦and E/U was for whimps back then. Old VSA traders talk about the glory days of G/J lol (not that there are many)ā€¦so umm, yeahā€¦ Iā€™m waiting for something and here I am boredā€¦so there you go lol.

A good tip is to reduce the size of your chart before taking the screenshot, the forum has a fixed width and will reduce anything taken above that. From what I can see, it looks like Photobucket is reducing your resolution as well. Reduce your chart to be equal to the width of the actual forum, and it should come out fine.

Hi Pete, what do you think about A/U pair? Is it good for trading?
Thanks

Yes. I rarely trade it, but if it wasnā€™t for E/U Iā€™d be watching it regularly.

1,500 posts yay! The irony here is that I became 10 times the trader I was by helping ā€œothersā€. :slight_smile:

Oh so there is you secret! :stuck_out_tongue: Ok, maybe once I get better I may open a similar thread in my own language on a different siteā€¦ :slight_smile:

This may have been asked before, but probably worth asking again. How do you know how long you can stay in a trade? Like when you let move go like earlier today, at what point do you throw in the towel take profit? What rules/guide do you use pete? (the Force is not an acceptable answer)

As Pete said in a post way back ā€œMy analysis doesnā€™t end because I enter a tradeā€ and he means that he still analyses the market for possible demand/supply to show up and in todays case it would be demand. Thatā€™s when itā€™s a good time to take some profit and lock the rest at Break Even.

So in other words, when you see demand showing up when youā€™re short and supply showing up when youā€™re long, thatā€™s when you should consider an exit. This usually happens around the 50-61.8 fibs, swing high/low or any other type of s/r zone.

This would be the most common Exit rule.

Hey thanks purple and dodge for the help on the images. I have been using the globe icon to link images, and forgot about using the image icon and unchecking that box. I guess im just gonna have to find the largest size photobucket will allow without resizing. On my computer they look crisp and sharp, but on photobucket they are a little fuzzy like on here. So thats where the prob is. Appreciate the help.

So upset about missing that big move today. I stayed up too late watching videos and studying and I overslept for actual trading. Whats the point of studying if Im not gonna get up and trade lol.

Confession time. I engaged in a little bit of revenge trading I guess you would call it, and ended up losing 1.5%. So stupid. I share the good stuff with yā€™all so I might as well share the bad too. My understanding of VSA is coming along nicely, but I am a pretty new trader and need to get past all the demons. So sharing my problem with my exits (greed), and stupid stuff like this (greed as well i guess lol) is my way of confronting and trying to get past them. I know Iā€™ll get there cause I want it too bad to keep doing this stuff.

Good job today guys. Yā€™all keep it up and then you will be the SMā€¦then who ya gonna followā€¦hmmm

edit: just reread your post Dodge, so i just gotta narrow my chart screen to fit the forum. You wouldnt happen to know what size that would be would you?

Revenge tradingā€¦ well I guess that happened to everyone at least once :slight_smile: ā€¦ I lost more than 10% of my account like this. But I was so make it all back using VSA. so no worries there :)ā€¦

As for the image postingā€¦ Do you really have to use photobucket? It is so clumsy and takes forever to load a pictureā€¦ Why donā€™t you use something simple like imgur: the simple image sharer Try it :)ā€¦ I guess the thread width is something around 700px, but please mind the users with slower internet connection. I think 450px width is fine. Donā€™t forget to save your snaps in PNG tho since it contains text and sharp contours and that way they donā€™t get distorted :).

Hi

Short on GU from 15523 stop at 15536 - will post chart when I can.

Hey SagiCZ, thanks for all the info, and I will try all your recommendations. I probably wonā€™t be posting any more charts till the middle of january since I wonā€™t have another day off to trade until then, but will def use your advice when I get the chance.

Oh and thank you for the encouragement, Iā€™ll just use this as another moment and memory to stay disciplined in the future. Its probably best I lost money anyway.

Hey Ozzieb88,
Didnā€™t seem to be a ND entry, but you cannot argue with the result though. Hardly any drawdown at all on it. Hope you took some profit before the huge up candle 15 minutes ago and had S/L at BE or something similar to protect what you have picked up.

Just watching from my phone today or I would post a chart. That is some crazy price action on this leg down. Is that the big boys with profit taking orders every 5 pips or so? So it doesnā€™t just free fall once 3000 goes? Havenā€™t yet had the chance to observe how price behaves once a very major line of support gets broken, at least one this old.

Iā€™m not sure either, but my first instinct is to stay away.