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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
AUDUSD another trade i m in that s more or less corelating with nzdusd, almost same setup, looking for the continuation atleast to retest the highs.break of the channel, retest of the previous daily resist now support that s also a 50fib and the 200 ema supporting price nicely from below.
adding even more probability to my nzdusd trade, fake break into fib, bulish divergence and highest vol in a while coming off the lowes stopping the down move.
another nice trade but wasn t on when the setup happened on EURNZD.
daily fib plus top of daily channel. 1hr double top with a fake break of previous day s high with divergence and high volume weakness on the bull candle with a bearish result. great probability trade, i ll wait for a pullback to get in if it does retrace
another possible setup in making on pound dollar, yesterday we had weakness into the 4hr fib with divergence, high vol with a bearish reaction to confirm the setup. right now it s pushing up towards the 50 fib on increased vol. if i see the rejection in the fib area (result of that vol increase (effort) bearish, i ll be looking to sell the pound.
GBPJPY highest vol coming of the lows in 2 weeks, no more looking for shorts for me. waiting on a pullback to target that daily fib and previous resistance.