tnks man i toute as much tooo…saw d trade but did not take it cos i resumed trading today…so am not too clear now…tnks anyway.
Take your time Fabulono1 with getting back in to it. Be sure you get a good feel for it again first then let the profits flow 
Please don’t feel like you have to rush in to it early, as that will only risk your balance
SM doing a fair bit of selling into the news that the IMF has been quoted to propose boosting its lending resources by $1 trillion.
Highest volume of the day with little comparable spread. SM selling to the herd who are scooping up the good news
Retrace on its way again. Maybe an hour or two for another long entry???
Nice to see so many in that trade :). I closed half where you closed your trade and I now closed another 40% at that ultra volume for 70 pips, letting that rest 10% run at trailing stop, just in case!
This is a daily news letter I have recieved for years. It’s all about the fundamentals and it’s free. Here’s the link for anyone interested. EverBank: Daily Pfennig Cheers,
Mike
Lot of supply up here at the 1.284 Level.
Clarification.
If anything, it looks like the lows get higher each swing, and we are running out of supply at that level. None of it is ultra high volume. My interpretation is that we may finally eat up the remaining supply and move up beyond these levels. Looking long, but not seeing how the entry would work out.
@mikeytrader1, wash your mouth out with soap my friend, wash your mouth out with soap LOL! We generally have a certain disdain for all things fundamental on this thread!
No insults intended
Non taken!
What is that triangle going to do? like LATechBanjo says a lot of signs of supply but it’s not that strong a supply, so the chances are it’s long, but will we get an entry, maybe not!
Agree completely. Im looking how to get in safely. Dont know how often this holds true, but in the past when I see these ascending triangles form there has been a very obvious, very low volume no supply bar right before the move up. Im very uncormfortable buying this high and thats the only thing that will bring me in.
Also, its getting late in the day and its going to be hard to detect a NS. Im thinking about putting on a small position with a stop below the last low, cuz I havent ever seen an asc. triangle fail in an uptrend so it may be worth it.
I think they read our posts
It’s not that late just yet, I didnt hang around and went short off the ND.
Took a risky long at 1.2815 to try to squeeze a few pips out before that supply level again. I’m probably going to take a profit here shortly and then let the rest run.
LOL, case in point. “The Euro advanced to 1.2844 as the International Monetary Fund announced plans to increase its lending capacity by $500B”
Did they announce it back on Friday? Because that’s when they were buying Euros in LARGE amounts…says volume. Nothing more annoying then hindsight fundie analysis.
It’s like a news reporter, reporting a fire burned down a house, but then goes on to speculate why…oh spare me. That’s not going to help predict price in the future lol.
BTW, no trade for me today. 2 for 2 this week so far…so I guess normal is the new normal. 
Hi,
I’m new to this (VSA) and I’d like to check if I got this right.
First of all the Loony is trading on the lower side of a triangle (which you can’t see on this timeframe very well). Due to increased volume on upside spikes I think we are in a mark-down phase. Now we left the triangle and the current bar closed just somewhat down the previous low with very low volume (it may be also low due to the current time, but most currencies are trading at their daily low/high now and they seem to prepare for a next leg up/down in asia session).
3 High volume rejections of the 1hr Fib Zone set up from 3rd Jan. Supply may be about to exhaust demand??
1hr chart showing since Jan 3
And 5 minute chart showing rejections
If that retraces to the 50-61.8 retracement level, we could have up to 130 pips with a sell on a ND confirmation - however, that is picking this as the current top
A nice healthy Markup we have here…told ya they bought a lot last Friday lol. High impact news in 35 min…if it’s initially down on news, we could look to buy lower on a proper setup. An up move on news may cause a climax of the trend and short opportunity.
Waiting to see what happens and your thoughts on it. Cheers,
Mike
I didn’t see anything worth posting about today as far as setups. I did take an aggressive short today on a side account which is paying a bit now, but I would like to keep my analysis and recommendations in here limited to higher probability setups.
REMINDER: I’m hosting a free webinar tomorrow at US open. I plan to cover the basics of the method and answer your questions. I will post the gotomeeting ID here just before the session.
Great, looking forward to it.
Mike