Trading Confluence with Petefader

ok, I’m not going to post them all here. Subscribe to my youtube channel to get a notice when the rest are uploaded…

petefaders’s channel - YouTube

Thinking ahead for ideal selling points since Volume shows weakness in the background. Further analysis should be applied if/when price gets there…I’m not calling trades. :slight_smile:


Hi Pete,

I have been into the forex market for almost two years. Demo results showed inconsistency. VSA caught my attention, tried to delve into it but eventually dropped it due to its complexity. Things look brighter when I found your teachings on this methodology. I find it to be simple and logical. I am having a better grasp now of how to read the market thru VSA after I have gone thru the entire “1,500 PIPS PER MONTH…” thread and viewed your videos.

I am pretty confident that I have elevated my forex market knowledge to a higher level. A big thanks to you.

Just started to read your supply/demand thread.

Awesome! You’re putting a lot of time in, wow. If you feel like posting some charts at some point, it would be cool to see.

labor day woes …
hey petefader, love your work!
i saw this setup with the original extreme buying at (A). was waiting patiently for a push through that AR level around 1.25600 (B) . Price left that AR channel and we found extreme buying with stopping volume ©. I entered pre-emptively after an hourly no demand & close below the low of that no demand only to be stopped out (D) … all to awake the next morning to see stopping volume (E) No demand test of the AR (F) and hits 1st logical target (G)… ALL OF WHICH I WAS NOT PART OF … now waiting for a push through original AR (B) a no demand test with a logical target at (H). at this point though risk to reward is 1:1 … much better entry would have been at (E) with a R:R of 1:3 … risk 30 for ~ 90 pips …


i don’t know if you can see the image so here is another upload
https://dl.dropbox.com/u/1995218/fail.png

my question is two fold: was my analysis correct thus far, and im not sure how i didn’t see to get out; looking back, hindsight is 20/20 … sometimes better, i can’t tell if its just because it already happened or what. i just don’t get how i lose trades like that. being wrong is one thing which i fully accept, hence the > R:R of 1:1, but when its a careless mistake that makes me feel like the herd i’m suppose to be praying on … why am i so blinded when i am in the trade … assuming my analysis is correct. any pointers would be greatly appreciated.

again love the work you do. watched all of your videos and read most of your thread(s).

valid or am i making thing up? :33:


Here is a link if you can’t see it
https://dl.dropbox.com/u/1995218/gu.png

The problem is the time of day. You took that trade at 19 gmt on a low volume signal (no demand), but volume is always low at that time. It usually drops off after 15-16 gmt. If I don’t get a trade by 16 gmt I wait to see what Aisa open offers.

Besides that, your analysis seems fine. I personally look more for entries at the top of the trading range, rather than a push through…although that is valid. I really wanted that fake break to the upside to short today. Had an order set while I slept only to see it drop without me lol. Oh well. I didn’t end up taking a trade today.

I like it…just remember the time of day factor.

[B]Hey Pete[/B] :wink:

Very cool thread and the topic is one that needs spoken more of by the majority of those posting and reading on the forums. Confluence is a gem if you understand how to look for them. Nothing holds water on it’s own in Trading and the more things you have telling you to expect a reaction… the better.

As it relates to competing… I for one never felt in competition with anyone… but Luiz [lol and Buckscoder] but I have always forwarded folks interested in VSA to you. I think you, Nikita and myself are probably the main horses here and you both do wonderful jobs sharing and operating your respective threads. I like looking set apart… I like action… I love to be different… and it draws a crowd. It’s good for my threads, these forums, this website which I love and you like others operating threads gain from it too. My personality is one that tends to polarize folks… either you love ICT or he gets under your skin and you won’t bother. Either case… ICT has sparked a fire in these forums and I am glad to have done that.

We are just two different streams… let them drink from the water and know that we run the same direction… helping others. There is no competition in that bub… keep up the good work.

:57:


Glad to be past this week coming off a holiday and the high impact news. Let’s see what setups appear for next week using the list of confluences in the first post.

hey pete,
now that this week is almost over, it’s almost 1300 as i type this, would you mind walking through that A/J setup. What points of confluence did you see? you said there was accumulation in the midst and sure enough we are roughly 150 pips above that level.
Also, I know in your older threads you said there was 3 pairs you really looked at; how many currencies do you scan over looking for trades? i feel like when i look at 10 i’m spread way to thin and make a lot of silly mistakes. but stairing at 1 i over analyze and end up taking myself out of profitable trades.
thanks in advance.

Todays trade (even though it’s a Monday)

Price popped out of the fib zone but then nipped straight back in on highest vol of the day. Saw a no demand - again, not the usual NS but the other acceptable type as per T Williams - Can be an up bar as long as price went lower than last bar.

Edit : Please excuse the “ND” in the picture, I meant “NS” :27:
Edit again: Just noticed that the no supply wasn’t confirmed on the next bar oops!


what pair is it ?

G/U 5min…

A/U 5M

https://dl.dropbox.com/u/1995218/912%20au.png

High Volume towards the low of the session with Pins suggesting stopping Volume AR right into 50/618 with a No Supply
Thoughts?

Joey looks good

the perfect storm has just began
EUR/USD jumps up and down 100 pips

wow

always check the calendar: Economic Calendar - Bloomberg
it was an FOMC announcement. really ashame too; around 930 EST there was that pin with high vol than a push through. would have made out +90 pips if i could have stomached a 50pip drawdown right off the bat.

Hey pete I have a questiong for you. I have been following this thread with great interest in what you have to offer here and been playing arround on demo with it. With toying with this concpet I have noticed something I trade live with fxsolutions and demo with forex ltd’s MT4. With these 2 brokers I have notice a varience in volume feeds. For instance (sorry should have took shots of charts to show but I didnt) on my demo we ran into support with not the highest volume of the day but a really strong volume bar non the less but on my live account it was just a normal volume bar (for lack of a better word). I am not asking whats the best broker for this as I know opinions vary. But I do know fxsolutions are small potatoes in the world of forex brokers and I do like them. They are a little slow sending me my money but I get my money and I dont need it to pay bills. So all in all I like the fixed spreads. What I am asking is have you moticed a big difference in volume feeds and is it something I should be concerned about or should I just keep pressing forward and see what I find on my own? Just looking for words of wisdom from someone who knows (at least more than I do)

I remember Pete saying he likes to use ibfx for their volume indicator. I use them on demo just to look at volume. Tho they are pretty close to my live broker oanda.