this is why when you see signs of strength or weakness you look for further weakness . strength to confirm trade and top / bottom forming
there is always the counter trend trade BUT one has to be aware of what it is and either aim for 20 or 30 pip or move stop to break even asap.
there is always the counter trend trade BUT one has to be aware of what it is and either aim for 20 or 30 pip or move stop to break even asap.
DislikedMalcolm - the light bulb just went on around why sometimes what looks like a good VSA setup fails... trending vs ranging
to summarise what I'm thinking here - if the pair is in a down (or up) trend then signs of strength (weakness) followed by a test may not be enough to work against the down trend. (e.g. my failed EU long from 1.2190 last night). The chart looks like a staircase - down, stopping volume, sideways, down, stopping volume, sideways or short retrace - down again. If you're in a big trend, VSA is less effective for picking reversals,...Ignored
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