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- #36,066
- Edited 1:34am Jul 18, 2023 1:17am | Edited 1:34am
- Joined Jan 2015 | Status: Trader | 1,461 Posts
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Disliked{image} Current trade I'm in saw weakness, was failing to break the highIgnored
DislikedI bought off a high volume down bar like a sucker.1. Initial Sign of Strength - High volume down bar
into fresh new ground. Fresh ground being nothing to the left of the body of the bar for the previous 5 bars (wicks are ok!) 2. Higher time frame confirmation - H1 chart, next bar closes up showing price is reacting to the initial sign of strength. 3. Change of trend - Two consecutive up bars with the second bar making a higher high and higher low. 4. Price reacting positively to strength - Hidden test with the next bar closing...
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Disliked{quote} When trading vsa everyone mentions to look at 2 bar combo. The first bar being the high volume bar and the second the confirmation. The confirmation bar needs to be up? ( in your example the big volume bar is down) I have seen many times that the following bar is down but not able to close below.Ignored
Disliked{quote} Does the high/ low of the big volume bar needs to be pierced to for it to be confirmed?Ignored
Disliked{quote} Following your example would you trade before the bar after the big volume bar ends on the high timeframe. Let say that you have your big volume bar and then inside the following hour you have a low volume test or a no supply. Will you trade it or you wait for the confirmation. Basically the next 1 hour candle needs to finish before you enter? Thanks for your help in advanceIgnored
Disliked{quote} If I'm understanding your question correctly, you're thinking that I'm looking for the next bar to be up on the M15 chart after the initial sign of strength, which I'm not. The only bar that I look to close up is on the higher time frame. {quote} I don't specifically look for the high/low to be pierced. I have two confirmations for the initial sign of strength. First is the trend change, two consecutive up bars with the second bar making a higher high and higher low. The second confirmation being the next bar closes up on a higher time frame....Ignored
For every trade taken, you must ensure you are trading in the direction of the trend of the 5m chart. (If no clear trend and just consolidation, still trade but proceed with more caution)
Target a 1:2 RR ratio
DislikedNot my time of day, but I hope Anotan took it. 1. Strength coming on down bar; climatic volume. 2. Low volume test 3. 2 consecutive candles making HH Guess Anotan you entered after those 2 candles? {image}Ignored
Disliked{quote} I came here to write a long ass post on trade management.. But lets talk about this setup. I wouldn't have taken the AU setup, the next H1 after your initial SoS at Bar 1 closes down which isn't confirming the strength on Bar 1. You can make the argument that the next H1 bar looks like a bullish test and I wouldn't recommend going down the rabbit hole ofe}Ignored
Disliked{quote} Anotan how is it going Do you trade for a living. You trade part time or is just a hobby?Ignored
DislikedI want you to notice something at this point. When you take a trade on Bar 5, the bar I colored with the green horizontal box. At first it appears this bar failed, price dips a little bit.. then price pushes up and through the high of Bar 5. But after when price pushes down to the profit area marked in blue, notice how price does not touch the high of bar 5 again. This is not accidental, this happens more than you think.Ignored