The reality is...
No one knows for sure when and where those with the power to send this market up or down are going to act.
It is like the roulette wheel with the ball rolling right now... Red or Black is the bet.
Being new to VSA I am not yet 100% confident of what I see. I am pulling data from futures and cash to power the volume. I see the selling taking place at the 1.63xx levels. Which based upon this newbies understanding means that the pros are unloading to the public and trapping them. I don't know if it matters if I read it right or not because the pause in price with volume going up, is like watching a car stuck in the mud. The tires just spin and it goes no where. Maybe two counties are battling the price point with unlimited financial power. I will never know but I need to reach a conclusion for myself.
I still see GU in a long term downward trend, but we are so close to that line of separation, the breaking point of that changing on a weekly basis to a long is so close, I don't feel the risk warrants opening a new position in either direction, until there is further clarity.
For myself, I am going to augment my position trading with day trading and then come back to swing trading to fill in the gaps. If I am going to sit and watch this puppy at critical times, I might as well have a method to trade more than one frequency. The other option is to bail and switch to other currencies when this happens, because the history shows it can last for weeks.
Be safe.
BR
No one knows for sure when and where those with the power to send this market up or down are going to act.
It is like the roulette wheel with the ball rolling right now... Red or Black is the bet.
Being new to VSA I am not yet 100% confident of what I see. I am pulling data from futures and cash to power the volume. I see the selling taking place at the 1.63xx levels. Which based upon this newbies understanding means that the pros are unloading to the public and trapping them. I don't know if it matters if I read it right or not because the pause in price with volume going up, is like watching a car stuck in the mud. The tires just spin and it goes no where. Maybe two counties are battling the price point with unlimited financial power. I will never know but I need to reach a conclusion for myself.
I still see GU in a long term downward trend, but we are so close to that line of separation, the breaking point of that changing on a weekly basis to a long is so close, I don't feel the risk warrants opening a new position in either direction, until there is further clarity.
For myself, I am going to augment my position trading with day trading and then come back to swing trading to fill in the gaps. If I am going to sit and watch this puppy at critical times, I might as well have a method to trade more than one frequency. The other option is to bail and switch to other currencies when this happens, because the history shows it can last for weeks.
Be safe.
BR
well done man 
