Absolutely Tassie.
Hello, VSA Mad scalpers! we are to have new bottom today! lack of demand
We can go to M30 (89exp average resistance) or to H1 if there are a lot of buyers!
NS setup and confirmation for a long just occured. Fairly soon after possible climactic action on the highest volume of the day. But, wait for it. Big bearish reaction. Still stay away until news is done
what broker volume do u use?
Same as most of the people in here. IBFX.com
There is also a (local) Australian one, but volumes are different between the two.
People trading before news and picking the NS incorrectly - ie don’t go for one without a wick on the bottom, would have been burned with price going below the climactic low
Just no higher prices today! - so we may have a new bottom today but with no climatic push may be…
I hope any of the newbies are watching this atm. Look at the price movement in both directions and the volume. This is why you stay out. Could get stopped in both directions.
I’m hoping this will be a fake break on the downside…the news move.
new bottom as I told - going to have a stopping volume on H1 with high volume
Going to take a lot of buyers to push this back up, but if it did happen, would be a perfect beginning to a long setup.
Closing all SHORTS when stopping Volume occurs on H1
Or on h4 - what is very very possible
That looks like a shake out, so now we go long.
I assume you are looking at the 15m.
Waiting for this next one to confirm as a no supply.
1 HR still has me on edge a bit…
I agree on the 4HR
The Shake will look like a shakeout on the 5 and 15
I agree. You got me looking at the 15m more than I usually do, and I’ve got to say in this case it makes the shakeout look much more clear.
I think we may see “the maneuver” or push through supply. Thoughts?
We have pulled back from a supply area with lighter volume, showing us the resistance area. The plan for me is to get push through that supply area, wait for a test of the new support area, and enter long.
Nope! Down she goes…
wait for half and an hour when h4 candle closes! m15 shows no demand again
no strength yet
It’s looking more like a mark down rather than a shakeout, every minute, and still no NS for me on the 15, I think the train got stuck behind the tunnel!.