Journal Entry:
One [SIM] trade: 1 win. ** Trade analyzed in ES, taken in MES.**
Trade:
I did not take the premarket trade that I saw set up in real-time. I correctly identified that the trend was Down and saw SUPPLY enter the market at HalfBack (HB) of Yesterday's High Volume Zone H1 (YHVZ H1). Price moved to the first target, Yesterday's High Volume Zone H1 (YHVZ H1 (L)). It felt good to see that, and I really need it. The last few days have been brutal: -1100.00 on Tuesday, -1500.00 on Wednesday and -1000.00 on Thursday. DO NOT REVENGE TRADE. As the saying goes, "When you seek out revenge, dig two graves." However when dealing with the Market, there's only one grave, and it's always yours.
I've been watching a lot of Wyckoff videos lately, and now understand the edge in taking Springs (Tests) on the right-hand side with Strength (DEMAND) on the left. Additionally, Wyckoff talked about the power of HalfBack (HB). Volume Zone Analysis (VZA) places emphasis on HB as well. Thank You Pres78.
I don't want to bog this thread down with analysis that is beyond the scope of what is being discussed here, but it suffices to say I took a Test (Spring) that was on/above HB for Today's High Volume Zone (THVZ) and HB for Yesterday's High Volume Zone H1. The first target was HB for Yesterday's High Volume Zone H4 (YHVZ H4). The second target was HB for Yesterday's High Volume Zone Trading Chart (YHVZ TC). The third target was Yesterday's High Volume Zone Trading Chart (High) (YHVZ TC (H)).
I was expecting price to move higher and had moved my stop up well to protect some profits. The Up Thrust at YHVZ TC (H) was the start of some serious selling...........
One [SIM] trade: 1 win. ** Trade analyzed in ES, taken in MES.**
Trade:
I did not take the premarket trade that I saw set up in real-time. I correctly identified that the trend was Down and saw SUPPLY enter the market at HalfBack (HB) of Yesterday's High Volume Zone H1 (YHVZ H1). Price moved to the first target, Yesterday's High Volume Zone H1 (YHVZ H1 (L)). It felt good to see that, and I really need it. The last few days have been brutal: -1100.00 on Tuesday, -1500.00 on Wednesday and -1000.00 on Thursday. DO NOT REVENGE TRADE. As the saying goes, "When you seek out revenge, dig two graves." However when dealing with the Market, there's only one grave, and it's always yours.
I've been watching a lot of Wyckoff videos lately, and now understand the edge in taking Springs (Tests) on the right-hand side with Strength (DEMAND) on the left. Additionally, Wyckoff talked about the power of HalfBack (HB). Volume Zone Analysis (VZA) places emphasis on HB as well. Thank You Pres78.
I don't want to bog this thread down with analysis that is beyond the scope of what is being discussed here, but it suffices to say I took a Test (Spring) that was on/above HB for Today's High Volume Zone (THVZ) and HB for Yesterday's High Volume Zone H1. The first target was HB for Yesterday's High Volume Zone H4 (YHVZ H4). The second target was HB for Yesterday's High Volume Zone Trading Chart (YHVZ TC). The third target was Yesterday's High Volume Zone Trading Chart (High) (YHVZ TC (H)).
I was expecting price to move higher and had moved my stop up well to protect some profits. The Up Thrust at YHVZ TC (H) was the start of some serious selling...........
Wyckoff VSA: (1) Supply & Demand (2) Effort vs. Result (3) Cause & Effect
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