Supply/Demand, VSA, Wyckoff with Petefader

[Danny_K]

@Tassiefx

Not after an argument at all DannyK. We are all friends here but the following is taken from IBFX.com

Spot Forex Transactions are conducted, not on a regulated futures or commodities exchange, but through a “spot market” that is often referred as the “over the counter”. This system consists of a large network of banks, clearinghouses and other institutional participants that exchange Currency positions with other members of the network. In an inherently unregulated environment of this sort, there can be no guarantees of the creditworthiness of the counter party to any particular Spot Forex Transaction executed on your behalf by Interbank FX. Every reasonable attempt will, however, be made by Interbank FX to deal exclusively with reputable and creditworthy banks, clearinghouses and other institutional network participants in executing and hedging your Spot Forex Transactions

Not gonna argue with you my friend!

I felt that it was so wierd when I opened my account, because I had to make a checkmark in a field where it said something similar to “I agree that IBFX may take the counterpart of my trades”. But I can’t find anything about it on their site, only when I signed up for a real account.

[Tassiefx]

Oh OK,
I just looked at their site and forms etc. My live acct is with GoMarkets and I have an IBFX demo running to take my volumes and feeds from. GoMarkets are local here in Australia, which protects me against dodgy brokers through the ASIC (Australian Investments and Security Commission) and the spreads are as good as I have seen so far.

They may in fact have something else on their forms for when you start a live acct as mine was just demo

[SagiCZ]

@petefader

Hey guys, come join the webinar. We’ll see if we can find a post news trade.
Web Conferencing | GoToMeeting ID 459 113 602.

Hey Pete, do we have to get the trial to join your room? It asked me for my credit card information. :-/

[DodgeV83]

Looks like it might continue down past the old support, will wait for another ND if one appears.

[petefader]

@SagiCZ

Hey Pete, do we have to get the trial to join your room? It asked me for my credit card information. :-/

lol, no. Gotomeeting.com is free. Join a meeting and enter the ID number I gave when it asks you.

[Hunterrus]

stopping volume on H1! now need confirmation

[DodgeV83]

stopping volume on H1! now need confirmation

It’s very late in the day and it’s Friday. Not advisable to take any more trades

[Hunterrus]

I want to say that today’s breakout was a false

[petefader]

I want to say that today’s breakout was a false

Yep, the proper way to end a loooong trend is on ULTRA high volume. 1hr shows it. Go out with a bang. Lots of profit taking to do at the lowest price possible…hence the Spring (fake break) showing up on multiple pairs. We know springs bring a high probability that Acum will now go into markup, or at least try with a test of the top of the range. If we still see the signs of accumulation by Mondays session, we could have a nice swing long to hold…possibly through the week.

[Hunterrus]

agreed! stick to the same opinion

[nordway]

Hey guys, come join the webinar. We’ll see if we can find a post news trade.

so, how was the webinar ?
can you please post charts for those who missed it ?

thanks

[gigitranza]

Dodge do you trade only with your Iphone , also do you draw fibbs and s/r areas using Iphone ?

Looks like it might continue down past the old support, will wait for another ND if one appears.

[DodgeV83]

I use my iPhone/iPad to remotely login to my computer using LogMeIn or Teamviewer if necessary, but try to avoid it.

[mikeytrader1]

Oh OK,
I just looked at their site and forms etc. My live acct is with GoMarkets and I have an IBFX demo running to take my volumes and feeds from. GoMarkets are local here in Australia, which protects me against dodgy brokers through the ASIC (Australian Investments and Security Commission) and the spreads are as good as I have seen so far.

They may in fact have something else on their forms for when you start a live acct as mine was just demo

I have been told Finfx is a true mt4 ecn broker. I don’t know them but will investigate. My current broker is go markets and I have seen them hunt the stops, but overall still a good broker. All the best,

Mike

[Hunterrus]

nice trading guys! have a good weekend for all

[desifxtrader]

Guys, a quick question here:

What would you call the phenomenon on the two charts (Fig-1 & Fig-2) below?

Notice how in Fig-1, after the deep dive, next day the price climbs back up on lower volume. However, it doesn’t happen the same in second chart.
Jotin your opinions …

http://i40.tinypic.com/24ooht4.png

http://i41.tinypic.com/2ia8ysz.png

[purplepatchforex]

Guys, a quick question here:

What would you call the phenomenon on the two charts (Fig-1 & Fig-2) below?

Notice how in Fig-1, after the deep dive, next day the price climbs back up on lower volume. However, it doesn’t happen the same in second chart.
Jotin your opinions …

VSA analysis is not just what happens in one or two candles it’s about reading the whole chart, also I don’t know what I’m looking at, what charts are they? And does VSA analysis apply to them, also there are different ways to apply VSA depending on timeframe and the item you are trading.

This thread is about quite a specific way of trading Forex pairs on an intraday basis. I suspect your charts are stock charts, which is a different matter altogether.

[mikeytrader1]

@desifxtrader

Guys, a quick question here:

What would you call the phenomenon on the two charts (Fig-1 & Fig-2) below?

Notice how in Fig-1, after the deep dive, next day the price climbs back up on lower volume. However, it doesn’t happen the same in second chart.
Jotin your opinions …

http://i40.tinypic.com/24ooht4.png

http://i41.tinypic.com/2ia8ysz.png

In chart #1 you had a big spike in volume, but the bar closed half way up meaning there had to be a lot of buying forcing it back up. The fact that the next bar moved up on low volume is unusual. You need to see at least a couple more bars to determine what is happening on that chart.On the second chart you have a big volume spike and the bar closed on it’s low meaning there was little buying pressure. The next bar closed half way up on medium volume ( lower then the previous bar, but higher relative to several bars to the left of it ). Again you will need to watch the following bars to determine if there is strenth or weakness. Gavin Holmes has a great ebook "trading in the shadow of the smart money " that is quite good at explaining this, just google it and I’m sure you will find it. All the best,

Mike

Mike

[purplepatchforex]

mikeytrader good book, VSA by number 1,2,3, looks good.

[mikeytrader1]

mikeytrader good book, VSA by number 1,2,3, looks good.

I tried to google it, is it an ebook or posting. I have downloaded your indicators and will try them this evening. I have been using trade guider stand alone software for about a month ( very good software with highly professional support ) and in the process of setting up " smart Trader " to compare. Once it is up and running, I will post everything here. Look forward to reading your comments on my posts, good luck in your trading.

Mike