Volume Price Level Trading

It feels like I´m learning to walk - taking the first step is fairly comfortable, but then keep on walking and holding the balance is trickier. More practice is def needed.
Great Spudfyre, I`m grateful for your teaching.

Cheers

Waez

AJ trade. PL@96.150 established with candles 1 and 2. Then 3, 4. 5, falling with falling volume creates a clear opportunity to go long at candle 6.
Entry @95.926, SL@95.800 and TP@96.099(96.100). RR>1:1 +18 pips.




Regards

Waez

EU trade,scalped a few pips with VPLT.Great staff you have here Spud it has really change the way i trade for the better.can't wait to learn more from you

here is another trade i have taken lets see how it goes

AU running trade. This is great fun. Thank you Spudfyre. I´m looking forward to your next post



Relevant PL created by 1,2,3,4 and 5.
Short bias showned by 5,6,and 7.
New peak at 8 falling so entry @1.02764, Sl@1.02850, TP@1.0265 RR>1:1

Stoploss moved to BE+1.

Regards

Waez

please ignore the MA in previous post.closed the trade for +15 pips

Nice trades! Can you elaborate on your entries? The second trade - why sell if previous bar is a down candle with low volume?

Hoping to hear your views on it as it will help to understand things better!

Thanks!

Following up post 445:





Candle 9 entry stopped out @BE+3 at candle 11.
Candles 9,10,11 and 12 condirmed short bias,
13 and 14 rising with falling volume so I entered again at 15.
The trade went quickly in profit so SL@ BE.
But look at the peaks at 5,8,10,12 and 15. They just kept the price PL1.02700 never going past 1.0265.
Already at candle 12 that observation made me a bit suspicious that price may brake long instead of short.

Spudfyre please comment on this.

Well anyway, it was two fairly safe entries.

Regards

Waez

Hi Spud, please be kind to comment on my trading (which was loss):

PL was created at 1.3390 and was confirmed by 1,2 and 3.
I think it was a short tendency at 4 (price down at 1,2,3 and volume down; followed by price still down at 4 and volume up).
Entry with short position at red arrow: SL and TP 20 pips from entry price.

In which part should I improve my attention.

Thank you.

1,2 and 3 are all weak attraction of price to 1.3390.
You are right, 4 could be interpreted as downward move, but I'd like to see if 4 generates a new lower price level (with volume peak) or if it reconfirms 1.3390. My entry after 4 would be short at 1.3388 to 1.3392...somewhere around the price level...that would protect my short entry.
Why?
If 4 turns into a volume peak and price is up/volume downat 5 then we are where we should be in the short at the same confirmed price level.
If volume had been higher at 5 than 4, and price hit 1.3390 we'd have to question a short entry or at least give us some added entry protection.
If volume was lower at 5 than 4, and price hits 1.3390, than we have a much stronger short entry.

The market at 5 generated a new price level...at 1.3380 from the volume peak at 4. 6,7,8 are weak attractions to 1.3380. You could make a case that this would signal more down price support and that a volume rise will likely lead to a price down move......but we haven't seen that yet.
Short at 1.3380?
Let's step back and look at 4,5,6,7,8...so price is falling and so is volume....and 7,8 price turns up...it all really puts a big question mark on short...I'd bail out of any short by 8 for sure and take pips or salvage my short position.

This same cycle plays out again a little later, both cycles should nab you some positive short pips. and then where the price peaks low and we get a volume peak....new price level at 1.3365...the long entry trade shows itself and you should get caught in the long price move near the end of the chart (initially aiming to ride up to 1.3390).

It would be easy to create a bias here for shorts from 1.3390 and that is the thing, not to develop short/long bias. Run with the market turns, or wait for the stronger signals (the long at the end of the chart from 1.3365) is a much better signal.

edit: been found what i needed !

thx!

It should be part of your standard indicators.

Hi, spud
take a look at this trade i took today. i may have got in a little early however it worked ok. hope you can understand the chart.

Thank you very much Spud. Have a more understanding after read and learn your comments. Highly appreciated!

Hmmmm....a little risky me thinks for a long entry where you put it.

If we assume that the volume peak is going to occur, than we'd establish a new price level at 1.3420, but we don't yet have any long indication. Power at this time is still on the down side..or at 1.3420.

The clear indicator for long entry is after the 20 pip tp candle closes. Still will give you 20 pips, or close too.
You could also launch long at 1.3420, as the down move is obvioulsy dead...but on the 2nd candle after your entry.

ok spud
i need to get better on my entrys. this isn`t easy.i will keep working at it.
thank you for your help. and any thing you can do to help

Taking this literally in this sequence below: Going with the volume peaks after candles closing and I will assume a 2 pip cushion above/below when entering:

1. Down peak establishing PL 1.3385. Entry 2 pips below 1 not triggered
2. Peak but Doji new PL 1.3380. Hard to tell the direction.
3 and 4 price up volume down confirming PL 1.3380- short bias.
5. Price down volume up so nice entry 2 pips below @ 1.3386 - WINNING TRADE when following peaking 6 (low 1.3368) and 7 down.
8. Price up - volume down. Confirming PL 1.3380-85 with short bias. 6,7 and 8 hints that price would not go much lower than PL 1.3380.
9. Price up - volume up and a new PL @ 1.3400. Long bias and a sell stop placed 2 pips above, not triggered.
10. Price down - volume down long bias creates an excellent enter @ PL 1.3380 - WINNING TRADE following 11 up.
12. Price up - volume up. Buy stop 2 pips above.
13. The trade is triggered and goes approx 20 pips - WINNING TRADE. New PL @ 1.3440. Buy stop 2 pips above not triggered.
14 and 15 price down and volume down long bias.
16. Price down - volume up short bias and a sell stop 2 pips below @ 1.3430.
17. Trade is triggered and goes down to 1.34266 before turning against. Would you have had the time to move your SL to protect the trade? For me this one would have meant a loss so - LOOSING TRADE. Price up - volume up long bias confirming PL. 1.3340. A new buy stop placed 2 pips above, not triggered.
18. Price down - volume up, short bias and a sell stop placed 2 pips below, not triggered.
19. Price down - volume up, short bias and a sell stop placed 2 pips below, not triggered.
20. Price down - volume down, I wasn´t thinking here, placed a sell order wrongly and to late making a loss. Placing the sell stop 2 pips below 19 would have kept me out of this trade.
21. Price up - volume up so a buy stop 2 pips above.
22. The trade is triggered @1.3449 and the price reaches 1.3474 so another WINNING TRADE.
The peak at candle 27 would have produced another WINNING or at least BE TRADE.

Now I don´t know if my backtesting here is done according to Spudfyres recommendations and maybe this sequence of 5 winning and 1 loosing trade on the M30 TF was an extaordinary beneficial one - or maybe not, but it´s nice to see.

Cheers

Waez

this thread has grown huge , since i last visited.

is there a summary of the rules anywhere in any posts ?

Hi

I've take a loss on the following chart.
I have two defined levels at 3430 and 3445.
I took a long at the close of the arrow bar. SL was palced at a 1:1 RR
Any comments please? should I have taken the trade off after the two low volume up bars?
But the third up pin bar at higher volume gave me confidence and I kept the trade.

Excellent VPLT on EU this morning.

Entry 2 pips above candle 1 @ 1.3396, SL@1.3385, TP@1.4100 R:R>1:1. Trade triggered during candle 2 and quickly went to +7 and then I moved SL to BE+1. When the trade was +10 I moved SL to BE+5 which got hit. As you can see price then hit original TP@1.34100.
At candle 5 price goes down - volume up. I was not around at the time but would have entered 2 pips below 5 and then another winning trade with huge potential.

Spudfyre from your experience - did I move my SL to quick you think? Maybe it´s enough to go BE+1 when the trade is in profit 6-8 pips and then let i have its run instead? Please advice.

Cheers

Waez