Is this the area we might see some stopping volume? Comments please:33:
Quite possibly. Nice confluence with the previous support levels as well as the 50 fib level. Just need to break through the shorter term 61.8 fib level that is is currently sitting on. Has developed quite a pin below it and sitting on the fib as we speak.
i tink so tooā¦cos d retracemnet we see now is from d take profit pple av been doing ā¦since dere is no stoping vol. yet for d up moveā¦we waitb to buy at any sing of streght we ā¦seeā¦so i guess u are rite abt dat fib zoneā¦be patient.
I got on late today, but spotted this setup on A/J. Looks pretty text bookā¦aggressive. 1hr closed a doji, just a few pips from 50 fib on larger TF.
That is technically a NS. I checked with other platforms and itās more clear.
Hey pete!
Itās nice to finally post here with all these good fellas!
now, could you give some thoughts about the background of this chart (even before the doji, if possible) and if you could share your stop loss and target(s) as well, because iām still a little lost on this part too.
Thank you very much!
Not much else I can say about it. The 1hrā¦Reaccumulation phase. The markup didnāt have a climax and the down move was bought into leading to this setup (wide spread down candles on increased volume with a bullish reaction). SL went just below the low price, targets are multiple based on how it reacts to higher pricesā¦talked about that before. Make sure you watch all the videos a few times and read the thread. Nice to have you.
ā¦took half profit off here around 45 pips on signs of weakness on the 5min. Locking BE and letting it run.
Hello
Pls have a look at my analysis. There is a fibonacci lvl(blue area)price got rejected twice from there. Also we saw nice up volume (first mark on volume), then two NS. I have to go work in a few minutes so I cannot wait for a hourly candle close. If it closes bullish then we will get another bullish volume on the trap down move what suggest up continuation.If it closes bearish then it will be another game and better to wait more and stay out. Any comment warmly appreciated. This is not a live trade, please do not copy.
Have a nice day.
We trade off the 5m, sometimes the 15m, but we donāt enter off the 1Hr, but your analysis makes sense.
pandras: Looks OK. apart from what PPF said, notice that the price didnt bounce from the fib twice. Technically at the first bounce the fibonnaci swing wasnt finished yet.
Right Ok guys, Iāve not posted charts for a while, Iāve been busy, and I know some of you chart purists will hate this post, but Iām finding the whole thing very effective, Iāve taken the information ināTrading in the Shadow of the Smart Moneyā and implemented that into an MT5 indicator, still needs some running time and tweaking yet, you could say Iām running the Beta version, but it got me this really nice 30 PIP trade this morning for example.
Is there head and shoulder forming on e/u 1H?
Please donāt take this the wrong way, but - donāt know, donāt care!
Itās not really relevant to the strategy you see, but you are on the right thread for a great trading strategy, have a good read through it, it will be really worthwhile.
Purple, I know this strategy, reading this thread, and I am trading with it for some time already. Pete many times said how he trades also with such patterns (head and shoulders, trend lines, fib - along with VSA signs of course), so why someone wouldnāt bother if such pattern start to form?
Ok, put it it this way then, there is some significance to chart patterns, but by no means do we trade by them and the VSA setup will overrule it, say we see a head and shoulders pattern, but a VSA setup contradicts it, we ignore it.
After all what is a head and shoulders?
Itās a support test, followed by an up thrust, followed by another support test, and itās the VSA results of these tests we trade by.
Ok, Purple :), lets put it in VSA languageā¦after rejection on 1H chart (wide, high volume spread, with price ending off the high) we can expect price to test a neck (bottom/support) at 1.30760 and than probably, if there is low volume, expecting a break?
Yes, I think thatās the idea, but the trick is not to expect anything, it can so easily cloud your judgment, it could be an acc or dist phase and you could get a head and shoulders followed by an inverted head and shoulders followed by another and another, while all the time you are expecting the break, just keep reading whatās in front of you.
True, Purple, totally agree! Predetermined judgments are our enemies, but anyway, I found them necessary to have a bigger picture and trading perspective.
Cool, sorry about earlier, great to have you on board this thread, we get a bit protective of it, itās just a great thread that petefader has created here and sometimes we get newbie posters, that come in asking stupid questions and have have not read anything of the thread, so generally they are encouraged toā¦ wellā¦
So I hope we can help.
Thank you. This thread has helped me very much with my trading and I admire also your contribution here. I read your posts as well as posts of other significant memebers here. Hope you do well too!
