what about this for GBPUSD .... i could be wrong lets see
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Dislikedwhat about this for GBPUSD .... i could be wrong lets see {image}Ignored
Dislikedwhat about this for GBPUSD .... i could be wrong lets see {image}Ignored
Disliked{quote} Oh my God it didnt go anywhere after a couple of hours ... lol ... i'm tired and dont want to let it overnight ... so i closed it with a tiny profit ... lol no wonder today is bank holiday in US .... just checked the calendar .... lol ... ok sleeping time .... happy trading guys ...Ignored
DislikedI wonder if days like today (bank holidays that aren't acknowledged outside of the finance industry) give a clearer insight of where the bias is for retail traders/non-Smart Money. My assumption is that smart money is typically banks, so if they have the day off, then smart money is absent (see: low volume) and the end result is what dumb money thinks about the market which is often incorrect.Ignored
Disliked{quote} Thats what Im thinking aswell. I took GJ instead though, I ploughed in a bit early without waiting for allignment so slighly more risky. Buy Stop waiting on Dow. Update: Closed out GJ for a half loss, was a risky play anyway so taken on the chin. {image}Ignored
Disliked{quote} i've not been around, sorry mate. right now, watching it for SOW. it may present sell opportunity. as we have rejection from LOR after NYO and high volume narrow spread upbar closing in middle followed by downbar - weakness. lets see. {image} EDIT: took short position as following {image} EDIT: as it has moved more than 1R, trade has been set to BE. at this point, giving back 1R + taken risk would make it double loss if hit. closed 2/3 position at more than 1.5R. rest already at BE. {image} remaining position has already reached unrealized...Ignored
DislikedI wonder if days like today (bank holidays that aren't acknowledged outside of the finance industry) give a clearer insight of where the bias is for retail traders/non-Smart Money. My assumption is that smart money is typically banks, so if they have the day off, then smart money is absent (see: low volume) and the end result is what dumb money thinks about the market which is often incorrect.Ignored
Disliked{quote} Spread is waaaay to wide to be a test, I would think there is some inherent weakness on that bar you marked as a test. You want to see increased spreads and volume on a selling climax, but after that SC any down bars should be diminishing in spread and volume.Ignored
Disliked{quote} Your probably right mate, my understanding of "test" bars is probably slightly unclear. Previously my understanding was as you describe, but after seeing some of Malcolms entry bars (sometimes wide-ish spread pin-bars) ive been a bit more flexible with the rules. One thing ive still to get is, do "test" bars have to be on a narrow spread like a "no supply", Is this referenced somewhere? Im having a rip look through MTM at the moment and it seems that "tests" can come in various guises, low vol, high vol, shakeouts (usually wide spread) and...Ignored
Disliked{quote} You might want to look around and see what you can find. There were some videos that were floating around for a few years that were webinars from 2010-11. They were called Traderguider VSA Club Weekly Live Trading Sessions. Most of the videos were from Tom, but there are also some from Phillip, Seb and Gavin. Tom doesn't like to put hard definitions on bars he always said in his webinars that you have to be flexible and that "we don't use mathematical formulas" so you won't get a lot of clear definitions in his books. In MTM there is only...Ignored
Disliked{image} I have added a full (although crude) trigger matrix to the chart. It strikes me as a great time to respond to a couple of things brought up in some recent posts. I am not an expert. I am learning Volume Spread Analysis (VSA) just like everybody else here. Well, everybody except for Malcolmb and Anotan . In short, I could be wrong, and an opposing view could well be correct. There are a few things in VSA that are "first principles". A couple of those "first principles" are: 1. 90-95% of the volume on a volume bar is Professional,...Ignored