Hi Fella’s
I just got stopped out of this trade,Is there something I didn’t see/do,weakness on the 1 hr climactic volume,bearish confirmation and then a ND on the 5min
help appreciated
Hi Fella’s
I just got stopped out of this trade,Is there something I didn’t see/do,weakness on the 1 hr climactic volume,bearish confirmation and then a ND on the 5min
stop loss too tight, the only thing that would invalidate a short trade there would be a close above the high at 8:50. That ND was just above a 50 fib, not a good idea to short into a fib area.
Beside that, I would just caution against shorts. With all the buying that went on Friday, I just don’t feel 100% confident in a short move.
Yes, you traded on a Monday, simple - DONT!
i kind ah disagree wit purplepachtforex…if u see a good set up on a monday u go ahead and take it…euro is going down for now…vsa is telling everything abt sell now…lol
Ah yes, I agree with that point, but for the sake of a good attitude and the low probability of getting a decent trade on a Monday, generally it’s just not worth the effort, best to save your trading energies for the rest of the week, never trade more than 4 days a week, so if it’s between a Monday and a Friday, choose Friday!
2GOSO 54:
Look about 4 bars before your ND, there was a high volume bar with long lower wick. That would signal recent strength. Not overcoming the selling on the H1 but strong enough to make you not enter the trade or at least use wide stop.
Today is Monday and even more important - no important news. One could also say it’s Rangeday.
Nice short yesterday
Any thoughts today? I’m thinking short, markdown phase 2 maybe.
Hey PPF,
I would have probably been interested in that 5min climactic action about 3 hours ago and the NS entry soon after which would have yielded a nice profit, but I was away taking my son to his mum and missed out. Interested to see how the night (or day) pans out with the rumours of credit downgrades as well as Greece resolutions etc. Can make for lively charts today
Yes, wide spreads, High Volumes on EURUSD 5m, at Fib 50, look for a Short soon.
Scalped some longs G/U and E/U, just waiting for a top to form now… if it even does…
The early bird catches the worm - well done!
For the short, I like that push thru demand and perfect looking ND, but not sure if I really like that top. I can’t recall anytime that a close at the high has been a top for a rally. The US retail sales estimate and the background on the H1 says short so… we’ll see.
Absolutely trederjoo, no real signs of weakness.
Yet, anyway!
dere are so many sign of weakness…look at the vol. dat av been coming up befor it got to the 1hr fib zone…i am short now from 1.32oo
But there is No Supply.
Yeah, I scalped short at 1.3200 as well, but mostly because of the convergence of fibs and lines there, I saw some weakness, but no ‘strong’ VSA signal…glad to see it got out of that area now…
I’m short off the ND at 11:10, took some half off at the 5m 61.8. Still very cautious though. Weakness at 10:00, 10:20 strengthish upbar, but still high volume, could just be a fake break, with bearish reaction off the 50 fib. Seeing how price action is moving, I’m wondering if the Retail Sales number is below expected and we’ll see another move up. The E/U just doesn’t seem to be driving itself, other pairs seem to be driving it.
Yes, I have noticed the same thing, EU is noticeably lagging the other pairs…