Theres a 2 bar reversal I didn't label on this chart, but that ND with tiny volume into yesterday's high volume close.
Trade should be good 75 pips or so.
Trade should be good 75 pips or so.
Attached Image (click to enlarge)
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- #33,825
- Jun 20, 2021 11:17pm Jun 20, 2021 11:17pm
- Joined Jan 2015 | Status: Trader | 1,461 Posts
Closed down the batch of orders taken below 132.30. Price is just above a HVC from April 6th on H4 chart. Going to keep a few orders taken from 132.70 open, but 70% of the position has been closed.
I'm going to take a break though, going to take a summer vacation and need to look into some Futures brokers. Supposedly Futures offers 100:1 leverage while Forex is capped at 50:1.
Also with how fast the ADR is dropping in Forex, not counting last Thursday and Friday, but Gold and Oil Futures look like they both have ADRs above 150. Gold on Thursday was a 600 point drop. 
I'm going to take a break though, going to take a summer vacation and need to look into some Futures brokers. Supposedly Futures offers 100:1 leverage while Forex is capped at 50:1.
Also with how fast the ADR is dropping in Forex, not counting last Thursday and Friday, but Gold and Oil Futures look like they both have ADRs above 150. Gold on Thursday was a 600 point drop. 
- #33,826
- Jun 29, 2021 6:50am Jun 29, 2021 6:50am
Just wanted to share a trade that i took today. A very simple principal that i follow for my trades now. Seeing what you want to see, where you want to see. The main idea of this trade was framed around the posts made by "hiddengap(so credit goes to him". with a few minor tweaks to suit my own style.
The shaded zone would be a WRB from the 1H. when prices enter this zone, i look for a short. as simple as that. and we use VSA to enter.
Take a look at the shaded zone. just before the channel broke, i see hyperbolic volume, EvR bar, a failed test and a good supply bar all appearing back to back before we break the channel. Once we break the channel, we get a nice 2 bar reversal. And all this happens at a zone, where we expect to see supply.
(apologies for not clearly marking out the chart. will try to do a clearer one when i've got the time. A potential trade seems to be setting up in EURAUD so back to my charts.)
The shaded zone would be a WRB from the 1H. when prices enter this zone, i look for a short. as simple as that. and we use VSA to enter.
Take a look at the shaded zone. just before the channel broke, i see hyperbolic volume, EvR bar, a failed test and a good supply bar all appearing back to back before we break the channel. Once we break the channel, we get a nice 2 bar reversal. And all this happens at a zone, where we expect to see supply.
(apologies for not clearly marking out the chart. will try to do a clearer one when i've got the time. A potential trade seems to be setting up in EURAUD so back to my charts.)
- #33,827
- Jun 29, 2021 7:10am Jun 29, 2021 7:10am
What i mentioned in the prior post. same thing again. a WRB bar from the 1H. in the 5mins, we have entered the zone.
- A high volume bar stops progress to the upside.
- Notice the SOT(shortening of thrust) of swings right from the bottom of the chart. An internal, aka reverse TL has been drawn accordingly.
- Prices not able to reach the top of channel to test. indicates weakness.
- breaking both the channel and a local support with good volume.
But i would practice caution though. I'll want to see either a poor demand wave up or a ND bar to short on now.
- #33,828
- Jul 5, 2021 11:29pm Jul 5, 2021 11:29pm
Hi guys, a quick question. Anyone trading using wrb zones? how would you trade a day like this?
This is CHFJPY. As we speak we are actually clustered in between 4 wrb zones. The zones shaded in blue are demand wrb bars. the ones in red are supply wrb bars. and the one that is encapsulated between the red line is also a supply wrb.
The easier answer that i am opting for is to totally stay out of this pair until things clear up.
But lets just say for educational purposes, if you had to put a trade on, would you be bears or bulls based on the wrb bars?
This is CHFJPY. As we speak we are actually clustered in between 4 wrb zones. The zones shaded in blue are demand wrb bars. the ones in red are supply wrb bars. and the one that is encapsulated between the red line is also a supply wrb.
The easier answer that i am opting for is to totally stay out of this pair until things clear up.
But lets just say for educational purposes, if you had to put a trade on, would you be bears or bulls based on the wrb bars?
- #33,829
- Edited 2:11am Jul 6, 2021 1:58am | Edited 2:11am
- Joined Sep 2015 | Status: Trader | 2,516 Posts
Trading thin liquidity at the boundary of the charts
- #33,833
- Jul 6, 2021 9:29pm Jul 6, 2021 9:29pm
- Joined Sep 2015 | Status: Trader | 2,516 Posts
Trading thin liquidity at the boundary of the charts
Here's 30 points, probably call it a day with 54 points in the bag, just too bad its fake money. Just looking back it seems like 3 out of 5 days are just as straight forward as today, feels like it could be a lot easier to trade than Forex. {image}
Nice trade. I've reproduced your chart with a few markings. Hoping to get your take on it.
Bar A was the highest volume on the chart on this bar. Even when Bar B came, where you have drawn your horizontal line from, the volume on bar B was still very low compared to A. At what point did you decide to use bar B as a high volume reference bar? I'm guessing probably because it was the highest volume bar at that point of time for the new day?
When bar C came, it was probably the highest volume in the past 15 bars or so. So now this becomes our reference bar? but the very next bar after bar C was a down closing bar indicating weakness on bar C. and we had lots of weakness on the background with bar A and B. why long above bar C then?
nice trade though.
{quote} You guessed it, that spread and volume during Asia is climatic. We know that price will return and react to where professionals take their positions, the ND and ND UT into the close of Bar B are big clues that B was an important bar. Bar A is the highest volume of the previous day, when I see those wide spread big body close just off the lows type of bars, I see them as absorption bars and basically look for price to drop below the bar, come back and tag the low/close then continue to drop. If price rallies up into the body of those bars...
For educational purposes, Would you have taken this trade? this was from USDJPY yesterday.
i see a beautiful supply bar where i have marked with a black horizontal line. i wouldn't say this is buying volume since the next few bars all held within the range of this bar and there was no signs of buying.
at the 5th last bar on this chart, we broke down again on healthy bearish volume and a strong close. we retrace up and 2nd last bar is a ND and last bar is a 2 bar reversal.
I guess this is the part where i would label it as "Rejections off the high volume bars close". I would enter a short now.
and well, i take a loss. market immediately reversed back up. would you have shorted at the same bar that i did since we saw a rejection off the close?