{quote} Look left and see where the current UHV is. Those could have been decent scalp trades back down to the low but until that UHV zone is broken that's all we have. {image}
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- #33,881
- Aug 26, 2021 9:39am Aug 26, 2021 9:39am
- #33,883
- Aug 26, 2021 9:51am Aug 26, 2021 9:51am
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
Today's zone = Tomorrow's opportunity!
{quote} Volume tends to occur at volume and PA returns to said volume to gather / fill more orders from trapped traders etc... It does get messier when zones stack but don't have shared levels to watch... All of these will play a role so you either stay away or look to just scalp being aware of where volume is.
- #33,892
- Aug 27, 2021 9:52am Aug 27, 2021 9:52am
- Joined Sep 2015 | Status: Trader | 2,516 Posts
Trading thin liquidity at the boundary of the charts
{quote} Hi Paul I didn’t see a trade with that no demand low, price was on consolidated because of red news. Too risky in my opinion but it’s still a shame it didn’t work out for you. The real volume levels were about half what your indicator stated, that is perhaps the real issue. Totally incorrect volume readings.
Yeah I didn't consider the upcoming news to be honest, I thought It was too far away at the time
but definetely something il need to take on board.Lucky I cancelled the order after the next candle printed.
Your using futures volume mate?
Ive checked the one from Tradingview (below) and it does show a volume bar thats less than the previous 2. But your right the bars are much smaller compared to my mt4.
Ive posted a chart of futures volume but not sure if its the right one, or the one that you use?
- #33,895
- Aug 27, 2021 1:34pm Aug 27, 2021 1:34pm
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
{quote} Looks like maybe a better setup off 50% of Yesterdays HVZ? But if your anticipating that news then could be risky as RickM says. {image}
You have to trade what you see. My chart looks like this.
Notice that price does not trade below the GTH Open. A good rule of thumb: When price is above the GTH Open, only trade long set-ups. When price is below the GTH Open, only trade short set-ups.
The classic/base entry is above the HVZ high. We see price trade above the HVZ high and then come back to it, where we see a narrow range interval on increasing volume. This is Effort versus Result (Squat).
Without VSA, you're playing checkers while the Smart Money plays chess.
- #33,896
- Edited 6:22pm Aug 27, 2021 4:54pm | Edited 6:22pm
- | Joined Feb 2021 | Status: Trader | 717 Posts
{quote} You have to trade what you see. My chart looks like this. {image} Notice that price does not trade below the GTH Open. A good rule of thumb: When price is above the GTH Open, only trade long set-ups. When price is below the GTH Open, only trade short set-ups. The classic/base entry is above the HVZ high. We see price trade above the HVZ high and then come back to it, where we see a narrow range interval on increasing volume. This is Effort versus Result (Squat).
Cheers mate, thats a good tip about the daily open, I saw Anotan talks about it aswell.
Would you have taken the setup off the bottom from the no-supply?
Are squats normally used as entry signals, in the same way that NS/ND and tests are? Or is it the location of the bar (HVZ high from news) that would allow it to be traded in isolation?
I appreciate your input mate, been learning alot from all your previous posts throughout the thread
- #33,897
- Aug 28, 2021 12:29pm Aug 28, 2021 12:29pm
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
Would you have taken the setup off the bottom from the no-supply?
I would not have taken the No Supply for three reasons: (1) Neither the NS nor the subsequent Test share at least one tick with the Supply/Demand Zone below, (2) Red News is coming out at 10:00 and I would not want to jump in front of that train, and (3) Most prop frim funded accounts don't allow you to enter trades 5-10 minute before or after a Red News event.
With respect to VZA, I fall into the camp that sees Half Back (HB), or the 50% line, as the line of demarcation: Only longs above and only shorts below. Yes, you do miss some "awesome" entries, but it saves you more money than it loses you in the long run.
Are squats normally used as entry signals, in the same way that NS/ND and tests are?
It is good to start out looking for a lack of volume in an area where there once was high volume, however, one should progress to a point where they are also looking for Effort (increased volume) and No Result (small range) in an area where there once was high volume.
Or is it the location of the bar (HVZ high from news) that would allow it to be traded in isolation?
Without VSA, you're playing checkers while the Smart Money plays chess.
- #33,898
- Edited 10:13am Aug 29, 2021 9:31am | Edited 10:13am
- Joined Jan 2015 | Status: Trader | 1,459 Posts
- #33,900
- Aug 29, 2021 11:20am Aug 29, 2021 11:20am
{quote} You got in way too fast.. Also you saw the Up Thrust just above the 2 bar and you went long without watching to see if bulls were still in control after weakness had appeared. It's best to see price take out the high of this UT before taking a long. The 1st NS- Ideally after a NS you want the next bar to close above the NS, or at the very least the next bar should be closing up. Here on this NS the next bar closes well below the low of the NS. Huge red flag. The 2 bar reversal you went long on - The next bar after the 2 bar reversal popped...
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