thanks man! for observing my trade. yeah maybe i was just lucky…it wasn’t a perfect setup actually…my entry based on the presence of the buying from SM, i was very tempting…
Sure but if you took every trade like this, your winning trade could be around 30%… (I have written couple simple EA’s to backtest buying/selling after anything that looks like top/bottom)…
I have stayed out the whole day today. Just didn’t see any setup. It’s fine with me. Not taking a trade is also a valid trading decision. :57:
taken from the book: Falling pressure indicates that there are few sellers detected as the market goes down, shown by a wide
spread down on low volume, closing on the low. This is not a buy indication on its own, but shows a lack
of determined selling pressure as the market falls, and is an indication that the market is unlikely to decline
very much further. If the professional money were still bearish, there would be an increase in selling on the
down side, not a decrease.
This indication can become a buy signal if it closes on the high of the day and the lower price level has
penetrated into an old previous support.
The volume can be lower on down-days during the very early stages of a bear market. Always
take note of background action! You will have indications of weakness in the background that
show a potential bear market. Falling pressure is seen when selling has been reduced. It is
always important to note what has happened in the background story, as this is what causes the
market to behave the way it does at the live edge (now).
Today’s prices are always heavily influenced by either strength or weakness in the background.
maybe this is what happened to my long entry decision…
But like Pete said, you’re in the middle of the fight between shorts and longs, you’re better off being in the market when one side has rolled over and surrendered!
I believe this might be true only for the stock markets. Note that volume in forex behaves a little bit differently. I remeber Pete saying we don’t need to see increasing volume to support any kind of trend moves.
If the professional money were still bearish, there would be an increase in selling on the
down side, not a decrease.
Maybe I don’t understand this right. I am no pro. But it doesn’t make much sense to me. Why would any SMART money want to SELL LOW?
Maybe someone can clear it up 
you’re right SagicZ, you are bang on, leave well alone.
well thanks guys for the comments. appreciate that. so, no logic VSA explanation to my long entry except i’m lucky for pips…
happy to be lucky…:59:
I couldnt see anything worth while today either, probably nothing until after the holidays or we get away from the magical 1.3 level…feels like theres and option barrier there or something.
Just redistribution phase now right? Volume seems higher at the tops in the channel than the bottoms.
Sagi, DannyK, PPFX…common sense posts, right on.
Last week, markdown/stopping volume, but the higher prices of the range have brought to much supply for the markup.
Simple isn’t it? The 5 min is clear on that, with markup attempts turning out to be buy climaxes…supply/weakness.
This can obviously create a range for some time. Demand and supply are close together and in similar amounts. You can look to buy low and sell high in this condition generally, but less reward expected if it’s ranging. Usually though, the chart will be clear eventually on which way it will break. If lower prices don’t bring much volume (demand) then we will call it redistribution. You guys know the deal, keep it simple and stick with the method.
Of course, I wouldn’t worry too much about trying to analyze for the rest of the month. I expect up moves to quickly run into supply and vise versa. I wish we had more to work with but, that’s how it goes until January. Maybe SM will pull a Christmas surprise and we make some pips lol. I’ll be checking in later.
I would almost say so but looking at the 1hr, we’re still seeing wide down candles with significant volume increases at the lower prices. In these cases, I simply call it a range…and let the chart clear things up over time.
To expand a bit. SM would be in a more clear state of redistribution if we started to see some bottoms that didn’t have the climactic form, but rather a lack of activity as SM selling waits for higher prices again…rather than dealing with legitimate demand.
I’m loving the Star Wars avatars…but you can’t beat my buy climax light saber lol.
Memories…A New Hope was on HBO practically all day back when I first learned how to turn on the TV myself. I actually thought it was real for a while…mmm.
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It’s the WYCKOFF.pdf
I stumbled upon this in the 1,500 thread. Some of the questions that were asked on the previous pages could’ve been cleared up by this.
With the end of the year close and following comments in this thread over the last couple of weeks I thought it was a good time to say thank you to all those people who have contributed to not only this but Pete`s other threads. I remember back in June this year when I quit my job and spent 4 months pottering around at home, deep sea fishing and got introduced to babypips and started reading,reading and reading about the foreign exchange. I had another friend who said the foreign exchange was a load of garbage and that 90% of people fail. Me being me, thought that it was worth exploring because a challenge is a challenge and not everybody fails at everything. You have to give things a go. If something is hard you just have to become a better person, nothing in life is easy.
How lucky was I to discover the wonderful world of VSA and Petefader. I sincerely thank you and everybody in this thread and the past thread who has helped in my development. I consider myself lucky to have discovered this and not to have filled my head with other rubbish.
Life for me is what you can contribute to society and how you can help other people. I suppose it is the registered nurse inside of me. I enjoy helping other people in so many ways and therefore thank you all for helping me. I still have a long way to go like some of you but isn`t it exciting knowing that there is light at the end of the tunnel? Go 2012 team! Go forward and trade!
Kind Regards
Stephen. Go Aussie!
Hi everyone,
Now that the trading year has just about drawn to a close, I thought that this thread would be made a lot better with just a small piece of housekeeping maybe. What I mean by that is if people looked at their past posts on here and assessed whether they were relevant to learning Petefaders method ie good questions and answers, charts, advice etc. Maybe we could all help out and remove those posts of ours that were useful at the time, but maybe not so relevant for people coming into the thread new and wanting to learn - if you know what I mean.
We have all learned so much from this thread, and its predecessor, and the thread would be so much better for the newbies if all they saw was good relevant info.
I know I have a few posts to remove myself, and will be doing that over the christmas break.
Anyways, I hope everyone has a wonderful and safe christmas/new year period, and hope to see posts from everyone in the new year.
All the best guys (and girls).
Tassie
Trade of the day. I know it’s kinda late but I’ve seen weakness in the market all day and was just waiting for a turnover. Besides, we had higher volume on the 5 min today than what stopped the markdown on the 14th. Closed out some and locked BE a few minutes ago, cannot babysit anymore, have to make dinner :31:
I wasn’t watching the charts but wow, picture perfect.
Beautiful, took the same trade, but was also lucky enough to get a NS on the 15m on the way up to it, that also worked out, nearly 100 pips, Now That’s What I Call Scalping, I’m sure I know a song or something like that.
What a great strategy.
I’ve been busy again, rewritten the NSND Alert, it now works historically, but you need to use both of the files, one is for the markers, the other for the Alert, I probably will combine one day, when the mood takes it.
But look at those NS and NSs on the 15 min chart, interesting!
NSNDAlert4.zip (3.15 KB)
Feel great, I caught the same exact ND. Good pips on that one today.