So what do you think?
We have a 61.8 Fib on the 1HR, it looks like clear selling into highs, some kind of distribution, so wait till we get an entry and short?
My messy analysisâŚ
These are my plans unless something changes.
Thanks for that makes my plans much easier.
I just missed a perfect short entry based on ND on the 5 min
There hasnât been a perfect entry yet, what are you referring to? :33:
Absolutely right, strength to the left in the form of stopping volume on 5m chart, making ND null.
I meant perfect by scalping not the âhome runâ trade by the way. I saw the stopping volume but i didnât feel it was high enough?.. maybe it was an anomaly then. Would have got around 20 pips.
Ahh, I see what you mean, IBFX didnât show an ND, the Volume was slightly higher than the one 2 candles before it!
Hi Guys,
Didnât take this as I missed it but how would this stack up as a VSA trade? Using an ND entry in trend continuation? Other factors I am not aware of or taking into account?
Yes, looks fine within the scope of your post.
I skipped it. Can you see the 2 points of high volume demand? Thatâs why. They are both higher volume than the buy climax. Luckly SM was in aggressive markdown style against that buying, if one had gone short.
Also selling into a Fib 61.8? but it was a gap to the next support level.
Have not taken a trade yet today. On the 5 min we can see demand coming in repeatedly, BUT Iâve been waiting for the 1hr closes to confirm and saw, that in the last few mins, they pushed down to close on the low, or at least reverse the entire up move for that hour.
This is aggressive âmarkdown styleâ pa. SM is selling in the face of demand, at key times to continue this bearish move. This is usually done when much of SM is positioned short and are trying to push lower for profit. From a VSA point of view, there is no trade. Aggressive selling in the face of demand is not the proper environment. We want an imbalance in supply/demand, which means a lack of one or the otherâŚnot both fighting it out.
Also though, from a vsa point of view, we know that much of SM was buying during that down move, so when the aggressive mark down pa is over, and there finally is a lack of supply, the entire move can reverse, and we have a very bullish background.
1hr stopping volume is confirmed now with a bullish close. Iâm considering a long, but only after a push though the 5 min AR/supply line. Just like I show in the âcaution going longâ video. Will post charts later unless someone wants to first.
Nope, once again Iâm saved from a loss by sticking with my principles. By the lack of posting today, Iâm guessing some went long early and rage quit the forums lol. :13:
Stayed out, Iâm considering using the 15m and the 1Hr, using the 15m like the 5m more or less and dropping the 5, not 100% sure yet, but it just seems to make life easier without missing opportunities.
I had a nice short from the top of the range last night, made a small profit, then that shake-out hit my BE stop. Oh well, wasnât the best of entries in the first place but there were enough signs of weakness to enter short. I think SM is still looking for lower prices before going long, but the long setup seems to be forming.
Hello, mad traders! I can not create a demo on IBFX(the platform doesnât generate login and pass), could someone open it for me?
Also I want to thank you all for this helpful thread!
This was the trade I took last night. Yes I know, itâs outside the 08-16Z timeframe where volume is best, but I really wanted to take advantage of the SM mark up and break of the descending trendline trap. The past week has not shown signs of accumulation, so I knew I was safe from higher prices above the Dec 21-29 .618 Fib level, thereâs no way weâre going to go into an uptrend without SM accumulating long entries at the bottom of the market. So thatâs why I took this short. Shouldâve just taken a scalp profit I wouldâve had when signs of strength started to roll in at the bottom of this range, but I really knew prices would break lower, and they did after that âshakeoutâ trap-up move that hit my BE.
Nice analysis Traderjoo!
Would you try to open a demo account for me on IBFX! I really need those volumes! Thanks for a try =)
Hi Hunterrus,
There may be a prob at IBFX because I tried to help a mate open one yesterday with no sucess.