Theres a 2 bar reversal I didn't label on this chart, but that ND with tiny volume into yesterday's high volume close.
Trade should be good 75 pips or so.
Trade should be good 75 pips or so.
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But i would practice caution though. I'll want to see either a poor demand wave up or a ND bar to short on now.
DislikedHi guys, a quick question. Anyone trading using wrb zones? how would you trade a day like this? {image} This is CHFJPY. As we speak we are actually clustered in between 4 wrb zones. The zones shaded in blue are demand wrb bars. the ones in red are supply wrb bars. and the one that is encapsulated between the red line is also a supply wrb. The easier answer that i am opting for is to totally stay out of this pair until things clear up. But lets just say for educational purposes, if you had to put a trade on, would you be bears or bulls based on the...Ignored
DislikedHi guys, a quick question. Anyone trading using wrb zones? how would you trade a day like this? {image} This is CHFJPY. As we speak we are actually clustered in between 4 wrb zones. The zones shaded in blue are demand wrb bars. the ones in red are supply wrb bars. and the one that is encapsulated between the red line is also a supply wrb. The easier answer that i am opting for is to totally stay out of this pair until things clear up. But lets just say for educational purposes, if you had to put a trade on, would you be bears or bulls based on the...Ignored
Disliked{quote} I wouldn't touch a WRB bar, go down to M30 or M1 (where you need to be) and study volume there. Small volume with big bars is the direction to trade. Here was a chart I posted yesterday so I apologise to anyone who has seen this one. It was EURUSD using Futures volume data but it tells us the truth - what really happened. I was looking for increasing volume to go long or below average volume to go short. Volume just wasn't there so I took about 15 short scalps over a few hours (all separate trades) to take advantage of the big players intention...Ignored
Disliked{quote} Your volume seems a little off. July 5th the highest volume during Asia should be on the 3 am bar. Also on June 28th the highest volume should be on the 3 am bar as well. If you look at the low of the July 5th 3am bar, price tagged it and dropped, good bet it was the highest volume. Personally I wouldn't trust your volume. Here's a SS, sorry im not at home and just have my phone. {image}Ignored
Disliked{quote} Nice. thanks for the reply. i understand the narrow range high volume bars is where you start studying the bars from i guess? Could you explain more about what you meant by increasing volume to go long or below average volume to go short? Did u arrive at this conclusion because the background or the context was bearish? Also, i would love to know how u managed 15 short scalps? I tried scalping way back with the 5mins chart but kept getting whipsawed.Ignored
DislikedHere's 30 points, probably call it a day with 54 points in the bag, just too bad its fake money. Just looking back it seems like 3 out of 5 days are just as straight forward as today, feels like it could be a lot easier to trade than Forex. {image}Ignored
Disliked{quote} Bar A was the highest volume on the chart on this bar. Even when Bar B came, where you have drawn your horizontal line from, the volume on bar B was still very low compared to A. At what point did you decide to use bar B as a high volume reference bar? I'm guessing probably because it was the highest volume bar at that point of time for the new day?Ignored
Disliked{quote} When bar C came, it was probably the highest volume in the past 15 bars or so. So now this becomes our reference bar? but the very next bar after bar C was a down closing bar indicating weakness on bar C. and we had lots of weakness on the background with bar A and B. why long above bar C then? nice trade though.Ignored
Disliked{quote} You guessed it, that spread and volume during Asia is climatic. We know that price will return and react to where professionals take their positions, the ND and ND UT into the close of Bar B are big clues that B was an important bar. Bar A is the highest volume of the previous day, when I see those wide spread big body close just off the lows type of bars, I see them as absorption bars and basically look for price to drop below the bar, come back and tag the low/close then continue to drop. If price rallies up into the body of those bars...Ignored
Disliked{quote} You guessed it, that spread and volume during Asia is climatic. We know that price will return and react to where professionals take their positions, the ND and ND UT into the close of Bar B are big clues that B was an important bar. Bar A is the highest volume of the previous day, when I see those wide spread big body close just off the lows type of bars, I see them as absorption bars and basically look for price to drop below the bar, come back and tag the low/close then continue to drop. If price rallies up into the body of those bars...Ignored