Supply/Demand, VSA, Wyckoff with Petefader

Hunterrus · January 11, 2012, 9:43am

161 fib level was reached! supply is coming

DodgeV83 · January 11, 2012, 9:53am

Sorry purple, had to do it :44:

purplepatchforex · January 11, 2012, 10:19am

Ha yes, I’m sticking to my guns though on the long run, it’s still High Volumes on down moves, and if we don’t go much lower now below 1.2667ish, it’s another shakeout we are seeing, then long ideally with a low volume test NS, as always it’s subject to change!

But Hey, I’ll bet that this is the bottom now, just on the basis that it just can’t go any lower LOL!!

EDIT: And it’s forming a W for a double bottom on the 1HR.

DodgeV83 · January 11, 2012, 10:27am

Yes, a lot of demand is showing up near the weekly low, looks like profit taking to me. The next few hours should show where they want to go with it.

Buckscoder · January 11, 2012, 10:47am

Hmm, we’ll see what happens with my giraffe neck. Either eating or drinking/tanking:

petefader · January 11, 2012, 11:37am

I think your giraffe might be hungry now. Really, I’m seeing signs of lack of supply…no really, seriously, it’s going to reverse, eventually agggggh!! lol

DodgeV83 · January 11, 2012, 2:31pm

End of the day analysis:

What I’m looking for next session:

purplepatchforex · January 11, 2012, 2:40pm

Yes, Dodge I agree, I’ve got a long on BE SL, I’ll just leave it, might be a nice surprise in the morning, I just don’t like the look of those NDs at the end there in a nice little group - it’s a conspiracy I tell you.

Anyway, here’s my 15m chart.

Buckscoder · January 11, 2012, 4:33pm

Yes, no supply so far. They are still busy to build the front leg. Which is also a little longer than the tail leg. So, it’s still running downhill. Not a neck yet, lol.

petefader · January 11, 2012, 9:11pm

Samiam129 · January 11, 2012, 10:17pm

What do you think about the stopping volume showing on EU M5. If the one hour closes bearish and we get an entry on the M5 (ND, confirming, and push through), would anyone consider it?

There it goes. No confirming H1, though,

and push-through showed some volume.

Hunterrus · January 11, 2012, 10:43pm

m30 has no demand! right down move

traderjoo · January 11, 2012, 11:22pm

Best time to trade the EUR/USD is 08:00-16:00 GMT. The signals during the Asian session can be kinda skewed considering the low volume. But yes the analysis looks good. The only odd feeling I have about a short at this point, even though many correlated signals point to it, but why would there be 2 long shake-outs during the 5 minute up-trend to this point?

Samiam129 · January 11, 2012, 11:24pm

Thanks for the reply, traderjoo.

mikeytrader1 · January 12, 2012, 3:55am

Looks like some accumalation on the 15 minute chart gbp/usd. trend is still down though. Not sure how to upload picture to this forum. Cheers,

Mike

purplepatchforex · January 12, 2012, 4:28am

One can never say that one is categorically right, but that is Accumulation or I’m damned! There may be more shakeout though, so your longs must have very small Sls or very large, keep reading the chart!

purplepatchforex · January 12, 2012, 5:02am

Is it time to wake up yet?

Hunterrus · January 12, 2012, 5:09am

near H1 resistance again! but seemed to be broken soon

I am going long till new no demand

fabulono1 · January 12, 2012, 5:32am

@pete wats ur take on eurusd now? its kind ah crappy to me.

purplepatchforex · January 12, 2012, 6:24am

I must admit, at first I dismissed you as a newbie, but your analysis looks pretty good, any chance you could get your picson higher res.

P.S.
30m charts is a pet hate of mine, absolutely nothing wrong with them, I will never use them, but I will appreciate your views.