Ok, now we are looking at what is likely to be an NS on the 1HR, so it really is time for longs now I think.
now we have a buying climax on 5M right? the price maybe will come back to the 50% fib (there is also old resistance which was broken). pls correct me if I am wrong.
No, thereās quite a bit more to a buying climax than that, but youāre on the right track, keep at it, have a good read about it in Master The Markets.
Hey PPF,
did u take that long on EU?
if u did can u plz explain it on the 5 min chart
thanks
Do you mean from the 1.3030 area? No
Wait 'till after the new now, there may be an opportunity to go long, but I think thereās more in favour of not trading than anything else.
We seem to be unable to break this new area of resistance, but thereās no indication of stopping volume either.
IMO, it looks like we are ranging and accumulating for right now. Your thoughts PPF?
Pour yourself a glass of wine and chill! 
Iām done, Iāll have my charts open for a bit just for observation, but otherwise, Iām done!
Oh how awesome it would be to trade in Europe. 8AM here and im headed to work!
0110 here. late nites for me, with a daytime job too. I will be happy to get rid of one of them ā¦ and keep the trading 
Just a quick question to confirm something. If you after you see supply coming in/potential stopping volume, the next candle is a doji (wicks on top and bottom match each other in length with a middle close), you just wait for the next candle to confirm strength or weakness in one direction, right? The confirmation candle doesnāt necessarily need to be the very next candle?
Hi Tehmac.
I believe that is correct. The doji in that case is a bit of an indecision candle and is therefore you should skip tot he next candle to see if there is a bullish or bearish reaction.
Hi Pete (and to all who contribute and read this Thread),
I am studiously going through the other thread (1-500-pips-per-month-) and trying to keep abreast of this one which is growing at an alarming rate ā¦hahaā¦ and watching the videos which are fantastic and much appreciated.
Through all these threads I catch a bit of talk here and there about price action and volume, retracing etc at Fib levels. Because I am only catching snippets of conversation and it seems like those involved already have background info so they understand what is being said, I feel I am missing a substantial part of trading this method.
I wonder Pete if there is a video (or part thereof) that has this info. If not, have you thought of producing one to specifically cover this area with trading Volume around Fib levels.
Thanks a million.
Pete (or those who may know):
If we are looking for the push through and test setup, and we have an established automatic rally high that is being pushed through, but the volume is high on the push through, yet not enough to bring it back down below the automatic rally high again, do we wait for a break of this new level of supply with a push through and test? i.e. it repeats with each new level of supply reached (following stopping volume and necessary strength in the background). We can just look for the push through and no supply setup each time?
I hate to be a punk about this but this is covered pretty well in the videos and in earlier pages on this thread. When price enters a fib level, you should expect high volume because this is where supply would typically fight with demand or vice versa. Lack of volume through that area, say for instance on a bullish move with strength in the background would mean prices would most likely be pushed higher since there would be a lack of supply in that area. It could also be an area of reversal. Check the thread here where there is discussion about No Supply/No Demand entry into a Fib (.50-.618) area.
If the volume is high on the push through, and low on the next down candle and not reaching the AR high, maybe creating a NS candle, and the next candle is an upbar that closes above the high of the previous candle, with strength in the background, isnāt this a vanilla NS entry that youāre describing? The push through supply entry is a completely different entry, you may have a NS entry coincide with a push thru entry, that would help confirm the move.
Can you show this on a chart please as I canāt understand what your trying to say. Tia
Itās all there, between 'Master The Markets. and Peteās videos and the thread contents, itās all there, it just takes a lot for it to all sink in, you just got to do it repetitively day in day out until you get all aspects of the strategy in place, itās a very steep learning curve but you need to get a grasp of the basics first, then you will be able to ask more detailed questions and then get more detailed answers, and it is always good to post up a chart pointing out exactly what you donāt understand, I find that posting a chart with your interpretation of it helps, it makes it easy for the more experienced guys to help out.
Take learning to drive for instance, pretty easy, open door sit down, press clutch, put in gear and start off, then CRASH, you made a mistake, but you have a basic understanding now, you practice for a couple of weeks, then another lesson, you learn to use indicators and to go round roundabout, practice for a couple of weeks, then learn more, repeat until you become a competent driver, itās easy with forex to think that you can look at a few videos, pick up a couple of tips, read the book and your done if only you understood it all properly - it takes time and effort and determination, success and failure until you become a competent trader, Pete himself said the other day something to the effect of that he is still learning and picking up some stuff, just like driving, Iāve been driving for over 20 years and yet I still realise or learn or pick up something new from time to time.
There arenāt any shortcuts to this, actually I think that this is the shortcut, but itās still a long road, but heck, stick at it and you will never look back!
I agree totally, 5 years of screen time worked for me and Iām still learning / reiterating things every day. My q above was due to the fact that some of the prior statements donāt actually make sense when read so I wasnāt sure of the points being made. Have a great week all.
Apologies for the confusion. I am talking about looking for the āpush through and test entryā i.e. move through AR high, then pullback to AR high region looking for low volume testing or no supply bars with confirmation.
However, Pete is saying that we do not want high volume on a candle going through the AR high, as that shows quite a lot of supply still around. Now, if on the next few candles it drops back to the AR high area (as we would also expect during a non high volume candle push through), but the high supply we saw doesnāt take it back through the AR high area to the bottom of the range again, if it just flops around for a bit and then makes an advance through the high of the high volume push through bar on lower volume, do we view this as a possible push through and test setup if we see the correct characteristics appear as it goes through this new second area of supply that was created by the initial high volume push through?