A closer “fractal” view of the first upswing shown in the 4hr pic…
Please don’t go blindly trading this…it’s an exercise. 
Major moves early due to news.
…And more to come, FOMC. The trade of the day was E/U, E/J long off the bottom. Should be easy for everyone to spot.
I wasn’t on then…got into E/J late and locked BE when some supply showed up. It was hit but it’s all good. 
East coast??
Well EU I don’t know, When I was watching all these EUR pairs going down I wasn’t sure where the bottom was. Eg: EURGBP After the highest volume bar the price still kept dipping. It kept pushing the price outside the channel on EU as well and I told myself to stay away. After some sleep, I wake up and see the 4H chart prediction of yours forming but a bit faster.
Should have blindly followed you. Kidding,…
Yep, I’m in New York. I can understand the hesitancy to buy the Euro against anything after it took such a hit…but it goes to show that the setups should be trusted and not to limit the trade to what one might believe is possible.
I am in North CA. Makes it hard to catch London and EST.
I was doing some exercises and wanted to pick on your brain a little. Comments on each will be appreciated.
Never mind. I should have just do the exact opposite of what i would do.
Hi all,
Reformed lurker, first time poster. First of all, thanks to Pete for putting this information into an easily digestible format! The posts in these threads have been worth their weight in gold in terms of bettering my understanding of VSA concepts.
I’ve been trading for a bit over a year, putting almost an excessive amount of screen time in. In that year, my methods have evolved considerably, first scalping the e-minis with all sorts of indicators, then stripping those indicators off and slowly moving into a swing trading mentality with chart patterns. Pattern trading has improved my trading considerably, but I was still looking for a way to better refine my entries. With VSA I feel like I’ve found a big piece of that puzzle, but it’s going to take more screen time.
Anyway, I’ve been paper trading, and put this short on this morning on E/U. Everything lined up nicely, with a high volume rejection of the 50 fib and previous resistance, along with a touch of the 50 EMA. Something in the back of my mind still doesn’t quite sit well with this trade (perhaps the large distance from the upper trendline, or the fact that it’s a Friday), but with a decent amount of confluence, I couldn’t find anything wrong with it on the surface. Maybe others can chime in:
E/U 1 Hour:
E/U 5 Minute:
There were a couple no-demands seen on the 5 minute, so the one I used for confirmation has a check mark over it. The down arrow is the entry short. Not usually a fan of carrying a trade over the weekend, but I don’t see the harm in it with a paper trade.
Thanks all.
P.S.: Sorry the fibs are hard to see; the 1400 UTC candle pushes through the 50 fib before being rejected.
767 trader, Good Luck. You are going with the trend and the ND showed up so that part is in your favor. so far so good but I see that it touched the fib zone from which it bounced a little. Note that it hasn’t tested the 61.8 yet so it might still go in your favor and test it before it can retrace back to test the channel top.
As for as confluence, my prediction is below. Note that I am new to this thread so I might be wrong.
Hi Pete,
How ya going mate? Hope trading is treating you well.
I’ve got a few ideas I want to run by you to see if I’m on the right track. I am using the 1 Hour chart to come up with this trade idea and will zoom in if it gets there to the 5min to enter the trade.
What I’m looking at here is the AUD/USD and I am looking to Short.
My confluence to enter the trade:
It has been marked up and is now finding resistance and is hitting lower highs. The red lines are historical Support and Resistance levels I have picked from the last few days weeks months which look to find continued influence.
At its most recent high found stopping volume as well as the daily low both with a nice pin on the candle both showing a sign of weakness.
Its now dancing with the 50-61.8 fib.
I would like to short if it pops just above the 61.8 fib zone and would be nice to see confirmation by a no demand on the 5 minute chart.
Would this be a valid trade in your books? What things could I look for I do to improve or change my entry?
I’m currently in the process of putting a short summary trading plan together to stick to the side of my computer I have put your confluence list at the top. I realized a lot of my trades were not planned well enough because I was checking the confluence off memory rather then having a good list in front of my to check over.
I hope to be looking for at least a few trades a week from now on so I will try and post a bit more often I find I learn better if i’m not just mulling ideas over in my head.
Cheers,
Tave
Monday was pretty quiet. Because of storm. May be ?
Yep, with all the US markets closed today, there wasn’t much to be seen.
Target hit on the above E/U trade, by the way. I also noticed that there seemed to be a good U/J long entry after stopping volume on the 1400 UTC candle on 10/26. Looking left on the 4 hour, that stopping volume showed up at a previously rejected level from August. I put it on…very close to target. Any time now…
Here’s the U/J trade… Considering how aggressively this pair seems to move, I’m wondering if I should avoid it until I have a bit more experience with this method:
U/J 4 hour, showing previous resistance becoming support:
U/J 1 hour, stopping volume seen. Long was entered on no-supply on the 5 minute. This was also a 50 fib area from the swing low on 10/17.
Yeah true I thought the markets were a bit slow. Has been more interesting today so far
Gonna put my extremely limited reputation on the line here :8:
I’m thinking that we’ll see a steady decline in the dollar on dollar pairs this week (so rally on GU and EU) culminating in an upward spike for NFP with high volume and then a decline shortly afterwards.
Anyone agree or do you guys think I may be smoking something?
Some of the nicest 5 min no supply examples that I’ve seen in my short history of VSA. These were on EU this morning.
Also gotta love the quick shakeout down out of the wedge before a move up and then low vol test of the upper wedge line.
Hey Jim,
Your defiantly onto something there mate just looking at the USD pairs the USD is defiantly down compared to most other currencies. AUD/USD is in a nice uptrends over the last month be good to see it continue might be a few buying opp’s coming up?
Tave
AUD/USD Trend
I just got my power back after 48 hours. We’re all OK here, some not so lucky. I’ll catch up on posts soon.
Thank you Pete.
I’ve been reading through your three large threads over the past couple days. Excellent information. Lots of questions, but I will finish reading through the threads to see if they have been already answered or explained.