Journal Entry:
2 [SIM] Trades: 2 Wins
Trade One:
Felt good today. I've been talking about "Squats" for some time now. "Squats" are Effort versus Result (EvR) intervals. A further examination (and learning) of "Squats" brought about through videos I have been watching has really opened my eyes. Whatever happens will be. But I felt confident taking the trade based on my read of the Market.
The Market opened with a wide spread DOWN bar that closed off its lows on Ultra High Volume with the next interval DOWN. While there was definitely some SUPPLY in this first interval, I noted that it closed off its lows enough not to be either an Up Thrust or Trap UP Move (TUM). Accordingly, I read this bar to be a Sign of Strength(SOS).
The next bar represents stopping action. It is an EvR. I noted that the volume is about 2/3 of the volume of the previous bar, yet the range (H-L) is about 1/2 the range (H-L) of the previous bar. That means the Market put in 2/3 the effort and only got 1/2 the result of the previous bar. In VSA, we recognize this "capping" action as bullish. Something most be compressing the range: DEMAND.
The next interval was DOWN on volume less than the previous two bars. This is No Supply. Although we usually want to see the next interval UP to confirm the EvR, not making a lower low and having volume less than the previous two bars is confirmation as well.
The next interval is a ShakeOut/Spring. After making a lower low than the previous bar, this interval closed UP near its High on Ultra High Volume forming a "buying tail". This bar can also be seen as the second bar of a 2 Bar Reversal (2BR). The next bar does close UP and confirm the strength.
Another EvR bar. This one was touched and closed above both HB and YHVZ H4 (L). I went Long on the open of the next bar.
My initial Profit Target was YHVZ M3 HB. The second target was HBtr (FIBBING the highest high and lowest low of the last 5 trading days). The third profit target was YHVZ H4 HB, but it was not reached (in this trade...).
The GOOD:
I resisted taking profits at YHVZ M3 (H). I had planned and placed orders elsewhere. Consequently, I planned the trade and traded the plan. As a trader, that's all you can do........
2 [SIM] Trades: 2 Wins
Trade One:
Felt good today. I've been talking about "Squats" for some time now. "Squats" are Effort versus Result (EvR) intervals. A further examination (and learning) of "Squats" brought about through videos I have been watching has really opened my eyes. Whatever happens will be. But I felt confident taking the trade based on my read of the Market.
The Market opened with a wide spread DOWN bar that closed off its lows on Ultra High Volume with the next interval DOWN. While there was definitely some SUPPLY in this first interval, I noted that it closed off its lows enough not to be either an Up Thrust or Trap UP Move (TUM). Accordingly, I read this bar to be a Sign of Strength(SOS).
The next bar represents stopping action. It is an EvR. I noted that the volume is about 2/3 of the volume of the previous bar, yet the range (H-L) is about 1/2 the range (H-L) of the previous bar. That means the Market put in 2/3 the effort and only got 1/2 the result of the previous bar. In VSA, we recognize this "capping" action as bullish. Something most be compressing the range: DEMAND.
The next interval was DOWN on volume less than the previous two bars. This is No Supply. Although we usually want to see the next interval UP to confirm the EvR, not making a lower low and having volume less than the previous two bars is confirmation as well.
The next interval is a ShakeOut/Spring. After making a lower low than the previous bar, this interval closed UP near its High on Ultra High Volume forming a "buying tail". This bar can also be seen as the second bar of a 2 Bar Reversal (2BR). The next bar does close UP and confirm the strength.
Another EvR bar. This one was touched and closed above both HB and YHVZ H4 (L). I went Long on the open of the next bar.
My initial Profit Target was YHVZ M3 HB. The second target was HBtr (FIBBING the highest high and lowest low of the last 5 trading days). The third profit target was YHVZ H4 HB, but it was not reached (in this trade...).
The GOOD:
I resisted taking profits at YHVZ M3 (H). I had planned and placed orders elsewhere. Consequently, I planned the trade and traded the plan. As a trader, that's all you can do........
Without VSA, you're playing checkers while the Smart Money plays chess.
, the Market was telegraphing this move. Maybe not the speed and magnitude, but the direction.
