Quick short on AUD/CAD. It was hard to see, but there is no buying pressure (wide spread up bar on low volume) the next bar is a failed test. This current bar I shorted failed miserably trying to break the previous high. {image}
This current bar is a nice example of healthy volume to the upside. It looks very much like there are buyers here, note the wide body and compare the volume to the previous bar, its high but its not excessively higher than the previous bar. I wouldn't go long here, but I would be holding on to any longs if I had any. {image}
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but how would you know if it is not profit taking side?
I'm going to pass on this trade because I want to leave my margin open for EUR/CAD. But here is an easy easy trade. {image}
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"wide spread down bar taking out previous lows" will this means that supply are strong that
it met demand and absorb most of it until it unable to move up... so you called it "no demand" ?
I went ahead and TP'd the top two positions on this H1 chart, they were sloppy entries and I could have done a lot better. {image} EUR/CAD Weekly chart, very bullish PA in the white box, amazing opportunity for a some long term pips. A lot of currencies have been in a sideways movement with choppy PA (just look at this weekly chart most of 2019 was sideways), with how aggressive the trends have been over the past few weeks I'm leaning towards that we are shifting from a sideways market to a trending market. All I can say is be very careful with...
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you took the trade Buy right after it break the previous bearish candle?
{quote} but how would you know if it is not profit taking side?
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Geez, you're quoting posts from like 6+ years ago.
The bar in question, the previous 2 bars is a bearish 2 bar reversal. The bar you're asking about is pushing through that weakness, this shows bulls are prepared to absorb any sellers. Add in the very low volume down bar at the low of the chart and you can see justification for higher prices. You would have to be very careful one price returns tot he low/close of the massive down bar as bears could step in. (get your trade to BE/partial TP)
{quote} not quite understand this... what if you met a real supply up there?
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You clearly have an aggressive up trend, with an uptrend like that you will have to see big big volume enter into the market to stop the move. Even then price isnt going to turn bearish instantly. It will take time for market to over take the bulls and turn the tides to bring price down.
{quote} you took the trade Buy right after it break the previous bearish candle?
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6 year old post I couldn't tell you exactly. I probably saw the bullish uptrend then add in that shakeout bar on Aug 9th at 5:00. I probably just started buying once I saw that.
{quote} "wide spread down bar taking out previous lows" will this means that supply are strong that it met demand and absorb most of it until it unable to move up... so you called it "no demand" ?
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Yes that is right. We have a big uptrend behind us and that widespread down bar showed that sellers stepped in hard. That no demand was sellers testing to see if any buyers were around.
Yes i have read the thread... but after reading for sometime, i forgot 90% of what i have read... humans have rotten memories....
But your style are quite interesting... very nice... is there anymore place i can read about your style?
Yes i have read the thread... but after reading for sometime, i forgot 90% of what i have read... humans have rotten memories.... But your style are quite interesting... very nice... is there anymore place i can read about your style?
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Just here and the main VSA thread. My adivce us to read the main thread again and look at charts from different perspectives. Especially Malcolm. HiddenGap, Pres78, Intel. Take what makes sense to you and apply it. Don't try to emulate just one trader. I'm by no means a perfect trader, 2021 and 2022 were rough years for me.
As a seasoned trader, I’d ask: have you confirmed those shorts with volume clusters at weekly levels? I’ve found aligning entry with previous high-volume zones on higher timeframe increases my win rate significantly
As a seasoned trader, I’d ask: have you confirmed those shorts with volume clusters at weekly levels? I’ve found aligning entry with previous high-volume zones on higher timeframe increases my win rate significantly
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I can't say that I've looked at weekly levels. Back a few years ago i played with daily levels, the problem i was having was that price was breaking out into brand new lows/highs. So with nothing to the left to reference I couldn't trade.
These days I spend 20-30 minutes a day looking at charts set some pending orders and done.. I have 2 strategies one a pull back the other a breakout. Usually one does better than the other so I'll play around with how much to risk per strategy. Like right now I'm about .60% risk on break outs and .45% on pull backs.
Be creative with trading, soo many approaches you can take.
{quote} Just here and the main VSA thread. My adivce us to read the main thread again and look at charts from different perspectives. Especially Malcolm. HiddenGap, Pres78, Intel. Take what makes sense to you and apply it. Don't try to emulate just one trader. I'm by no means a perfect trader, 2021 and 2022 were rough years for me.
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Malcolm is nice... but the thread is super thick... by the time i read finish, it tooks so long that i will forgot almost the 90%....hahhahaha... this is called human... HiddenGap is nice.. but ..very mechanical and very literature.... yours are quite graphical... i find it interesting...but anyway, i will see how.. ..thanks for advice..
As a seasoned trader, I’d ask: have you confirmed those shorts with volume clusters at weekly levels? I’ve found aligning entry with previous high-volume zones on higher timeframe increases my win rate significantly
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Anotan,..after for sooooooo many years...... now you know why someone noticed you.... they found something similar......VSA rocks !!!! Your style ROCKS!!!!
