- #5,302
- Edited 5:54am Oct 7, 2010 5:41am | Edited 5:54am
- | Joined Sep 2007 | Status: Trader | 1,404 Posts
Where was the vsa setup on the EU move?
So you would be looking to go with the trend unless there is a super strong sign that the trend is ending. That can be ultra high volume wide or, better yet, narrow spread up bar or some big upthrusts or something.So the first setup, which isn't really VSA, but can be very good. A reversal candle. Price went down and quickly reversed. Can look like a hammer on higher TFs. Ideally the reversal candle is same or greater than the previous candle.
Next setup is almost right before the move. What happened was price first went up, then was forced down and tested a s/r level. Notice the bar closed in the middle on increased volume. You can enter on the close if you're aggressive or you can wait for confirmation. Sure enough, next bar is up. You can either enter on the close or wait for a break of the high.
Hope that wasn't very complicated. My thoughts tend to jump around when explaining.
Oh and nothing works 100%. Just keep in mind what the trend is, where s/r (s/d) levels are and try not going against the trend if there's no reason to.
You can see plenty of no demands in an up trend. That doesn't mean the trend has changed. In these situations it's better to wait for a sign to go long rather than short hoping price drops.
- #5,306
- Oct 7, 2010 5:56am Oct 7, 2010 5:56am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #5,308
- Oct 7, 2010 6:01am Oct 7, 2010 6:01am
- Joined Aug 2010 | Status: Trader | 1,282 Posts
I actually saw this on 5m TF, but 15m is a bit clearer maybe. What you have to keep in mind, is that EU is in an up trend. 20 or something consecutive higher closes or whatever
So the first setup, which isn't really VSA, but can be very good. A reversal candle. Price went down and quickly reversed. Can look like a hammer on higher...
Thanks comaP, i appreciate your detailed explanation, it makes alot of sense. Trading agaisnt the trend is something i need to get a hold of and stop doing.
- #5,309
- Oct 7, 2010 6:10am Oct 7, 2010 6:10am
- | Joined Sep 2007 | Status: Trader | 1,404 Posts
This is what i call SHIT 
Best,
Tom
Best,
Tom
Exited with +23
B,
T
- #5,310
- Oct 7, 2010 6:13am Oct 7, 2010 6:13am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
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- #5,311
- Oct 7, 2010 6:13am Oct 7, 2010 6:13am
- | Joined Sep 2007 | Status: Trader | 1,404 Posts
Fast loss, if Your stop is not big 
Best,
Tom
Best,
Tom
In a sell gu 1.5940 ... this is playing out nicely .. will post chart later
- #5,315
- Oct 7, 2010 6:28am Oct 7, 2010 6:28am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Fast loss, if Your stop is not big
Best,
Tom
Most annoying thing was i got eu almost at low of week on a buy 1.3670... let it go way to early. Did not think we would have another up week after the three massive weeks we have had.
Gu no talk of qe2 ...... so now buy dips all way to 1.6500
Blogging daily now at www.volume.zone
- #5,317
- Oct 7, 2010 6:29am Oct 7, 2010 6:29am
yeah was up 270 pip for week .. now just 230. That is ok I can live with that
Most annoying thing was i got eu almost at low of week on a buy 1.3670... let it go way to early. Did not think we would have another up week after the three massive weeks we have had.
Gu no talk of qe2 ...... so now buy dips all way to 1.6500
do you buy the dips based on tests only?
- #5,318
- Oct 7, 2010 6:30am Oct 7, 2010 6:30am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #5,319
- Oct 7, 2010 6:31am Oct 7, 2010 6:31am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone