Hah, just as I was doing the graphic, you posted, I thought it was quite an interesting situation, it was funny because I read LaTech’s post as an NS and thought the same as you fabulono, however as much as I’m the first to be the advocate of the 15m timeframe, the safer setup appeared on the 5m chart!!
Chart - 5m EURUSD
So yes I agree with fabulono, it was a high risk trade, but the setup on the 5m was safer, and as luck would have it, it flew up, had I been awake I may well have entered the long on the 5m.
I wonder what was so endearing to the EURO on the FOMC statement, um well maybe I don’t actually, it’s not really relevant is it?
If people aren’t convinced that news and “fundamental” analysis isn’t bunk after this AND the RBA CPI last night, then I don’t know what other evidence is out there that can convince those people. It’s amazing reading these “expert” analysts and what they post on what they think is going to happen, and when it doesn’t go with what they predict they’re left clamoring for answers when the true answer lays with what we see here.
I would’ve taken that NS trade, but adjusting to London time has been a struggle for me this time around and I was out.
Yeah, dealing with the news is highly unreliable; not to mention slippage. I know I’m doing at least twice as better since I started ignoring my broker’s news feed. I still mark the time of releases to avoid slippage. The news feed caused me to made biased decisions using crappy analysis. Now I focus on the balance between supply and demand as described in this thread.
I really like your analysis. I noticed in your pictures that it says alert sent. Are you using software to find potential resistance/ support areas or something else. Thanks,
These three signals came frome trade guider on the aud/usd 15 minute time frame. I think I got the picture order correct with the arrows. For some reason it didn’t show the alert message. The first arrow was a trap up move, the second was supply coming in, the third was potential buying climax. Still trying to figure out how to post correctly. Cheers,
Hey all,
Just thought I’d mention that the EU hit the 50-61.8 fib level I mentioned a week or so ago, which was a stretched target back then. Not so stretched now
Maybe that will mean that it might bounce off it today and head down. Wait for a 1hr climax with any luck (although we do not use luck)
Everybody seems to be looking for some kind of stopping volume/buy climax. With all the buying that occurred at the end of last year, isn’t it safe to say we’re going to see this uptrend last for quite sometime? Any down moves we see here are pullbacks to the trend line/reaccumulation.
hah, the curse of the trader, what goes up must come down or VV, but No, ‘the trend is your friend’!, but I think the big trick is not to think about it and just read the chart, trying to look ahead leads you into too many preconception about future prices which will hamper your trading.
But yes, traderjoo, I probably would agree if I were to think about it!
do we still think about the trend in vsa like above 50 ema is upward trend and below downward trend so look for buy trades and sell trades respectively?well many times av seen such an approach causes one to miss pips waiting for confirmation on a trend indicator.i think we shd just watch the charts and trade what we see
i would like to see 1h chart explaining distribution and accumulation from there on spotting ns and nd is as easy am still a newbie but learning
Traderjoo, you can always get a buy climax and head back down for a while, then get another sell climax and come back up again. We just read what is happening as you well know. It may have a lot of room to go up form past falls, but it doesn’t have to be today, this week, or this month. It may not even happen this year. There are always cycles, but we don’t trade cycles. We look into the smaller picture, and trade VSA to the smaller timeframes - which works for us
Gotta admit there are things that I am more proud of than this trade. Was sweatin’ it a bit after the entry, but thank the world for Petefader, it’s all starting to make sense now.
