Disliked...
2nd trade on UJ, very obvious selling coming in. Closed this trade just because NFP was coming up. {image}Ignored
I am holding short UJ.
2
- #34,361
- Oct 8, 2021 2:23pm Oct 8, 2021 2:23pm
- Joined Jun 2018 | Status: An ordinary brother | 4,595 Posts
- #34,363
- Edited 10:33pm Oct 8, 2021 9:58pm | Edited 10:33pm
- Joined May 2020 | Status: Trader | 304 Posts
Hello traders, amazing thread, but if there's a summary as i cannot read +1790 page plz
https://pdfcoffee.com/master-the-mar...-pdf-free.html
Then someone ever summerize Hidden Gap quotes (one of VSA Master here) from this thread, there are a lot of examples with great explanation (attached) :
- #34,364
- Oct 8, 2021 10:41pm Oct 8, 2021 10:41pm
Hello all, i have a question regarding wyckoff tape reading. Its based on effort vs result. As you seen at the attached picture, my question is up result candle no 3 is greater than up result candle no 0 ( uR3>uR0 ). Are they some mistake with this picture? Thank you in advance. Your help will be much appreciated.
Best regards.
Best regards.
- #34,377
- Oct 9, 2021 12:16pm Oct 9, 2021 12:16pm
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
Without VSA, you're playing checkers while the Smart Money plays chess.
- #34,378
- Oct 9, 2021 9:23pm Oct 9, 2021 9:23pm
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
I wrote this post earlier, but something happened and it got lost. I've calmed down now, and will try again.
It's great to see all the energy in this thread at the moment. There are a lot of great posts from a lot of different points of view. All are welcome. Something can be learned from them all.
There's a lot I want to respond to but I wanted to start out with this trade from Friday. I took 3 trades and had 2 winners and 1 loser. The second winner was for 8 pips. And the loser was for 8 pips so that was a wash. The first winner was for 30 pips. I did something different on this trade, and I'm not sure if I like it, so in a way, this trade was also a loser.
Price was already in a downtrend in this market. I know this because of at least 5 reasons: 1. Chart Mode on the H1 chart is Red. 2. Price is below Half Back (HB). 3. Price is below the MA. 4. VolumeFlow is Red. 5. Volume Pressure Gauge is Red.
The NFP created an Ultra High Volume bar. Normally, I use YHVZ for Today. However, In this case, price was well out of YHVZ. Therefore I used I FIBbed the NFP as THVZ.
On the M15 chart we see:
A. An increasing range UP bar on very high volume that closes well of its high and closes below its midpoint. This bar is Supply. Even though the next bar does close UP, there most have been some selling on this interval. Why else would the close be so low in its range, if all that volume was bullish?
B. A decreasing range UP bar on decreasing volume. But take a closer look. The range is this interval is slightly less than have the first bar, but the volume is about 2/3 the amount of the first bar. This is to say, the Market is putting more effort to get a lesser result. Accordingly, we call this Effort versus Result (EvR).
Clearly, if I am going to enter this market, I want to do it to the downside.
At this point, I took a play out of Gavin's book and went down to the M1 chart.
1. A decreasing ranged UP bar on volume greater than the previous bar, which closes in the middle of its range. This is a Squat.
Note that price has moved beyond TVHZ and is now retracing towards it. The bar closes below the trigger level. It also remains below the MA and the indicators remain Red.
2. Narrow range UP bar closing in the middle of its range on volume less than the previous two bars. This is No Demand. Again, price is failing to close above the trigger level and the MA. It's time to get short.
I entered on the open of the next bar.
Took a little bit of heat, then rode it all the way down. I don't use a target because I do not presume to know where the market will go, or how much room it has to move.
My "preset target", which I move as price moves towards it, got hit before I could move it down further because I was actually paying attention to another chart at the time.
critiques welcome.....
It's great to see all the energy in this thread at the moment. There are a lot of great posts from a lot of different points of view. All are welcome. Something can be learned from them all.
There's a lot I want to respond to but I wanted to start out with this trade from Friday. I took 3 trades and had 2 winners and 1 loser. The second winner was for 8 pips. And the loser was for 8 pips so that was a wash. The first winner was for 30 pips. I did something different on this trade, and I'm not sure if I like it, so in a way, this trade was also a loser.
Price was already in a downtrend in this market. I know this because of at least 5 reasons: 1. Chart Mode on the H1 chart is Red. 2. Price is below Half Back (HB). 3. Price is below the MA. 4. VolumeFlow is Red. 5. Volume Pressure Gauge is Red.
The NFP created an Ultra High Volume bar. Normally, I use YHVZ for Today. However, In this case, price was well out of YHVZ. Therefore I used I FIBbed the NFP as THVZ.
On the M15 chart we see:
A. An increasing range UP bar on very high volume that closes well of its high and closes below its midpoint. This bar is Supply. Even though the next bar does close UP, there most have been some selling on this interval. Why else would the close be so low in its range, if all that volume was bullish?
B. A decreasing range UP bar on decreasing volume. But take a closer look. The range is this interval is slightly less than have the first bar, but the volume is about 2/3 the amount of the first bar. This is to say, the Market is putting more effort to get a lesser result. Accordingly, we call this Effort versus Result (EvR).
Clearly, if I am going to enter this market, I want to do it to the downside.
At this point, I took a play out of Gavin's book and went down to the M1 chart.
1. A decreasing ranged UP bar on volume greater than the previous bar, which closes in the middle of its range. This is a Squat.
Note that price has moved beyond TVHZ and is now retracing towards it. The bar closes below the trigger level. It also remains below the MA and the indicators remain Red.
2. Narrow range UP bar closing in the middle of its range on volume less than the previous two bars. This is No Demand. Again, price is failing to close above the trigger level and the MA. It's time to get short.
I entered on the open of the next bar.
Took a little bit of heat, then rode it all the way down. I don't use a target because I do not presume to know where the market will go, or how much room it has to move.
My "preset target", which I move as price moves towards it, got hit before I could move it down further because I was actually paying attention to another chart at the time.
critiques welcome.....
Without VSA, you're playing checkers while the Smart Money plays chess.