fib retracement after weakness, effort to rise, pin(doji) matching the buys with sell orders and the bearish bar as a result confirming the setup (reversal pattern also if i ain t mistaken)
buyers stepping in as lower prices are made, climactic and stopping vol(stopping the down move), with a bullish reaction. was also a fake break of the low that was formed 4 days ago, then the AR is made as price starts to move down again. first entry on the break of the AR that was made on low volume suggesting supply is scarse. second long entry after the successful test of the AR(as price comes down and touches the AR volume increases which results in a rejection with a bulish reaction right after). i enter right after that or sometimes i ll wait for a NO SUPPLY bar to be confirmed by the next bullish bar.
the setups might vary as the market isn t perfect but these 3 setups are what i look for every day and gave me confidence. again, this is just my way of trading and what makes most sense to me.
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tries to make new ground, price is getting squashed down closing well of the high, and the result of all that activity(volume) trying to push price higher results in a pin(doji) that tells me that they are matching the buy orders with the sell orders, and the confirmation really is the bearish bar that came right after. when i see that in any market or currency pair i ll only look to short.
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demand comes in on the selling frenzy stopping the down move, i consider this STRONG background and i ll only look to buy after.
again, all this represents just what i m looking for to trade and what works for me, these are just notes for me to review and remind myself( like a diary if u will).
it s not advice to buy or sell. due ur own due diligence, study, fail, study some more, fail some more till u ll succeed.
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range defined as accumulation because volume is scarse at the top and increasing of the lows rejecting.
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If there are any mistakes in the posts above i apologise( anticipating that some might disagree) but i ain t an educator or financial adviser or a pro trader for that matter. all these conceptions i ve taken from books i read and from videos on the internet regarding VSA(volume spread analysis). I m trading VSA, and figured it will be good to go back to basics and revise what i should be looking for before a trade setup. All this stuff can be found on internet as free content.
eurjpy weakness agressive selling, low volum at the bottom, almost reached the 50 fib, round number,volume increased with a bearish engulfing as a result. sell, first tp at previous support, then trail( ofc if i m right)
another great thread right here on BBPIPS that i ve found with just pure price action, good stuff if u r looking for that to help u with ur entries
INSTRUMENT: AUDNZD
ANALYSIS:
On H1 chart, our forecast is bearish shark. Price had already completed bullish cypher at 1.04000. Price is expected to continue bullish trend toward 1.04770/1.04980 or 1.05320/1.05540 region…
trade i took after weakness on 1hr(effort to rise, bearish react on higher vol) 5m weakness also confirmed, break of AR on low vol. might lock BE as there s some high vol comin in of the lows
gold christmas rally, looking to buy the dip if nothing changes
gold aproaching majore resistance, how big of a bounce should i expect, or it just gonna power thro?
gold still looking very bullish to me. a little bit of weakness as we aproached daily highs but nothing major, looking to buy the dip into the fib unless something changes next week.
EU still looking rather weak to me, a bit of buying into the 1hr fib which makes me think we might push for a short leg up into the 4hr fib forming also a possible divergence, more confirmation to look to sell.as long as i don t see high vol stopping the down trend compared to recent background, still only shorts for me on EURUSD.
gold gaps up as the market opens over 360 points for a whaoping of almost 700 points in a little over 2 days. no progress made so far altho we might have some ranging conditions before a retrace, since i m seeing some volume comin off the lows as it tries to push back down and close the gap(not all gaps fill tho).short term looking bearish imo but i d be looking to buy once it close the gap which would also line up with previous resist turned support and 50 to 618 retracement. long pic i still think gold is heading towards those monthly highs, but for right now it s a wait and see kind of situation.
EU still looking bearish to me, still looking to sell. volume incresed as we re aproaching that fib, so far looks like a fake break of friday s high and back into recent range kinda situation with fib above and a possible divergence in making. hoping this candle would close higher also reaching the fib, to get a better price if all things line up and volume agrees(cos i might be right about the direction but wrong about the timing), therefore patience pays.
GU to me still looking short, waiting on a pullback to that 4hr fib and a SOW to short it at a better price.
EJ weekly channel, reist plus 50 ema, daily double top. looking to sell into that 4hr fib if all things line up and volume agrees.
NZDUSD double bottom and divergence on the 1hr inside the daily fib after a break to the upside of the descending weekly trendline, looking for a runnup back to the highes. trade i m in already