Trading with Volume and maybe a horizontal line

Ended up closing the EURUSD long for -1.5 pips.. Price is still struggling to break out of this sideways movement.

I had two trades today.

First trade was on CHFJPY, to be honest I had very little confidence in this trade. I placed the trade almost like a reflex but, cards on the table.. I closed the chart window because I was convinced the trade would fail. With the JPY pairs, I must have formed a bias that the low from yesterday was a strong base and that overall the pairs are bullish.



Next "trade" was on GBPNZD.. I say "trade" because for whatever reason my trade copier decided not to send this trade to my live account.





Here is the "trade" from my demo account that sends the signals to my live account. Just easier to let a trade copier figure out the lot sizes.

These past few weeks I've been studying Pres78's posts about his VZA and a few other members posts and trying out lower tfs in hopes of getting better RRs.

TBH, I got really side tracked and it wasn't for the best. I'm sure a lot of it was because of the type of trader that I am. Also it seems like anything below H1 is too noisy for me, I just do a lot better on hourly charts.

Big increase in volume, its doubtful that buyers stepped in, but I got out anyways.

This is what happens when you have an opinion on what price is going to do.. It tells you to STFU.

A few hit and run trades today.

There was a market meltdown, I know I should be trying to position myself for some long term trades but it was hard holding on to trades where my my SLs are 3 and 4 times larger than normal.

AUDCAD

2 bars before the test, there was massive weakness back into the HV bar's close which price completely ignored the weakness so I took the test closed out above the previous high.

USD/CAD

I shouldn't have been in this trade, I knew there was strength at 3590 but the market slipped below the level before the shakeout. On this trade I convinced that price would return back up to the close of the climatic bar's close. Obviously it didn't return, I need to get away from the trap of I'm going to grab some pips on the way back to test the close (climatic bar in this case).

Classic entry.

Price rejects the close of the HV close, no HH but the last up bar that touched the close and came right up confirming bulls in control.

I think the biggest realization I've had in trading volume is that not all volume is created equal.

What I mean by that is that just because a bar has climatic volume, volume that higher than the previous 200 bars or whatever, doesn't necessarily show the true intent of price. So taking into account of that, it makes sense that a trader has to wait and see if/how price reacts to high volume bars.

Here is a great example of this concept I posted here. On that chart what we had was price rise off a perfect test. I didn't mark it, but looking at the close of the widespread down bar from Feb 28th there was a 2 bar reversal that rejected the close on at the end of the day on March 2nd, the 2 bar reversal is right above where I marked the HL. The high volume from Feb 28th was good solid volume as price reacted to it.

There were a lot of people that were convinced that price was going to fall because of the very climatic wide spread up bar with weak close on March 3rd. You can see here how price went up and through that bar, this screen shot the March 3rd climatic bar doesn't even look very climatic. The point is that price never reacted to the March 3rd bar, price didn't care that bar existed. Price already knew that had been bought for 3 days.

Also that's the meaning behind my signature, one bar, March 2nd bar didn't make price become suddenly weak. It takes time, it take distribution to become weak. In distribution there will be LHs/LLs, there will be failed signs of strength and successful signs of weakness.

I did get stopped out of this position overnight, it was a late in the day position with a pair that had already reached its ADR.

I lost 70 pips, but with clear strength behind this and considering the loss I went a little heavier on the position and I closed it out for 59 pips, small profit. The thing I'm having issues with this I'm still stuck in 2019 mode. 2019 if I wanted to make 60+ pips I held on to trades for 2 or 3 days, right now with the volatility 60 pips can come in minutes and in this trade particularly I'm not wanting to give those pips back.

today trending day

I'm going to get away from live calls, the main reason is because I'm just lazy. But really the purpose of this journal is to help me realize my strengths and weaknesses. To achieve that I only need the reason why I entered the trade and the outcome. With live calls (which up to this point almost all of my posted trades are live calls) I have to post the call and a follow up, by posting just after the fact will save a lot of time and space.

Also something that I do is I hardly ever review trades, I make trades and once the trade is closed I almost completely forget about them. I there is an opportunity here with being able to do a recap on the weekends or something.

Little bit more of a difficult trade to see, but it was there.

It was obvious there was a sell off yesterday during US session, but price didn't really react to the highest volume for that session, but it reacted to the previous bar. What I really saw in this trade is what happened today in Asia.

Last week in Asia, 3 out of 5 days on JPY, the Asia session had a 2 bar reversal at the day open, price fell and consolidated then fell again during US session. Which is exactly what happened today. I also noticed that as price dropped from the first two bar reversal that price made a LL which really showed sellers in control.

Didn't see much today that I liked other than EURJPY.

Longer term position, the pair is very bullish looking at the weekly chart. Like to hold till 123.60.

I've just been hanging back with everything that is going on.

I've been watching EU since yesterday day, hidden up thrust behind us and today we could break the close of high volume from the London Session two days ago.

6.5:1 RR, its been a long time since I've been able to get a trade like this.

After yesterday I really should be taking the rest of the month off. Maybe its greed, but really hard to walk away with setups like these.

A high volume close stopped a rally dead in its tracks yesterday. Marked off the high H1 close and shorted a 2 bar reversal on it.

Went ahead on closed these out for a loss, looks like some strength came in.

Think Im going to call it a month.

Had a nice break from trading. Came back to an obvious 2 bar reversal on AU.

CADJPY tried its best to sucker people into buying.

Just discovered this thread, please can you continue from where you stopped?