DislikedThe two little candles that confirmed my bullish bias for the day. 15m {image}Ignored
I think this is a successful test. rite?
Thanks,
LO-Trader
volume ask volume bid 0 replies
Disliked{quote} Hi Hiero, I think this is a successful test. rite? Thanks, LO-TraderIgnored
Disliked{quote} The volume wasnt right for it to be an actual test. If that inverted hammer type candle was on volume less than the previous two, it would be a test for demand (in my world, its not a real thing to some) and then the next candle would actually fail the test, so it would have been a failed test, here a sign of strength. That's still basically what happened. London was on a mission up and the candle before IH was no supply also. Resistance became support with IH and that IH was a London candle, the next candle was up and a New York candle....Ignored
Disliked{quote} Cool. Understood. Why do I keep forgetting about the test(volume should be less than previous two candles)? Impose it man. They are the basics. Thanks, LO-TraderIgnored
Disliked{quote} No problem. It's all good, once you get really good and have spent many many hours reading charts, you no longer need rules or guidelines. I have days such as that but not often enough yet. There is such a thing as a high volume test as well and tests on candles with volume less than only one candle before, a whole world of stuff actually, that you will find for yourself and can't really teach. The rules for a system such as VSA or any method, are just there to help, until you can go beyond them and make your own discoveries. I rarely write...Ignored
DislikedHi Hiero, Volume looks to be much better today on NIFTY option. Below chart is on M5 time frame. When I look back now I feel like it is following VSA principles. 2: volume was too high and bar closed below 30% of the range. Lot of selling. 4 & 5: looks like stopping volume 6: less volume on a upbar. ND. no sign of going up. But SOS. 7: was a successful test. 8: supply coming back to market. 9: was a successful test as the next bar was up. A: was a successful test as the next bar was up. B: supply swamping demand. SOW. But next bar was a successful...Ignored
Disliked{quote} Am just on my phone about to sleep so can't really comment on that chart well. The close of the candle after #3, failed #3 test for supply, a good SoW. I like these trades because I use a pretty tight stop, good R:R. See that candle towards the left that has the highest volume and closes close to 50%? I usually draw a line where the wicks of the candle before and after it would touch when there is no hidden gap, i just call it a 0 tick HG. See it acting as support for your 4,5,6,7,8,9 candles? Candle "A" is the only long I would have considered,...Ignored
DislikedOne other thing, this (everything I've been talking about) is the easy part of trading. The hard part is growing a pair and sticking in a trade that you must stay in and managing it well. This is my biggest problem. Leaving a trade once it goes against your predefined risk is easy, that's what a stop loss is for. I find almost every day, without fail, if I would have just kept my trade going, I'd be up much more than usual. The psychology of greed and fear is a bitch to overcome.Ignored
Disliked{quote} Am just on my phone about to sleep so can't really comment on that chart well. The close of the candle after #3, failed #3 test for supply, a good SoW. I like these trades because I use a pretty tight stop, good R:R. See that candle towards the left that has the highest volume and closes close to 50%? I usually draw a line where the wicks of the candle before and after it would touch when there is no hidden gap, i just call it a 0 tick HG. See it acting as support for your 4,5,6,7,8,9 candles? Candle "A" is the only long I would have considered,...Ignored
Disliked{quote} Something like what I would have on chart. I'd never take a trade from analysis from only 1 timeframe though. A is testing where there used to be supply and C is testing in a HG. {image}Ignored