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Trading VSA the way NSK does

  • #101
  • Apr 14, 2011 1:59am Apr 14, 2011 1:59am
Quoting brax64
Pin bar forming in EU 1H time frame also triple top I'm trying to short it, volume rising in the last couple of hour now is lowering,we can assume that the up move is not supported?
i dont see a pin bar, mainly cos our broker timings might be different...but shorting at previous tops with small SL is always a good strategy, irrespective of the volume !!
  • #102
  • Apr 14, 2011 2:34am Apr 14, 2011 2:34am
GM - having specialised with Medici in trading at this time of the day, I find that updating recently used Support and Resistance areas helpful.

Whilst we know the Sweet Spot levels - xx00; xx50 etc - and the Daily Pivots from the 5pm US close, we cant know which of these will actually be respected by the current Price Action. To help me with this, I place coloured rectangles at the most recent S&R areas and another trader - PGD - developed a little indy to keep them updated.

Thus my 5m chart looks like this.....8:00 is the Frankfurt Open and 9.00 the London Open as the chart is from MIG and on CET
Attached Image (click to enlarge)
Click to Enlarge Name: apr 14 gu 5m lo.gif Size: 15 KB
Trading Levels with WRBs
  • #103
  • Apr 14, 2011 2:44am Apr 14, 2011 2:44am
Quoting Islander
GM - having specialised with Medici in trading at this time of the day, I find that updating recently used Support and Resistance areas helpful.

Whilst we know the Sweet Spot levels - xx00; xx50 etc - and the Daily Pivots from the 5pm US close, we cant know which of these will actually be respected by the current Price Action....

nice areas of SR...so u just place trades at these places using PA or do u use something else? mind sharing the indicator?
  • #104
  • Apr 14, 2011 2:44am Apr 14, 2011 2:44am
with huge moves in Asia, i would rather sit on the sidelines and watch than trying to trade now...
  • #105
  • Apr 14, 2011 2:49am Apr 14, 2011 2:49am
Hi all.

My 4th trade and a winner. So far that 100% win rate.
Price down (marked white TL)
Volume down (market green TL on V bars)
Entered long buy stop (arrow on bar)
Set TP at 1.63570 as 8/8th ultimate resist line.
Hit TP for +16.8 pips.

Plan is 2 trades per day max on GU and 2 per day max on EU. close and leave.

Question: has anyone traded this on any other pairs? GU and EU are correlated so its risky trading them both but they are currencies i know.

Thank you NSK.

Looking forward to reading todays posts. PS I am GMT +1 which helps.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Example 4.jpg Size: 167 KB
Click to Enlarge Name: Example 5.jpg Size: 150 KB
  • #106
  • Apr 14, 2011 2:53am Apr 14, 2011 2:53am
Quoting courtneywild
Hi all.

My 4th trade and a winner. So far that 100% win rate.
Price down (marked white TL)
Volume down (market green TL on V bars)
Entered long buy stop (arrow on bar)
Set TP at 1.63570 as 8/8th ultimate resist line.
Hit TP for +16.8 pips.

Plan is 2 trades per day max on GU and 2 per day max on EU. close and leave.

Question: has anyone traded this on any other pairs?...

awesome Courtney....way to go!! within a few days , i guess u will become better in this than me...great...then i can learn from u...:-)...

this strategy works well on eurgbp as well!!!
  • #107
  • Apr 14, 2011 3:06am Apr 14, 2011 3:06am
Quoting ns_karthik
nice areas of SR...so u just place trades at these places using PA or do u use something else? mind sharing the indicator?
I follow on 5m, and around FO / LO on the 1 min chart, and watch the PA, especially around these levels. The candles themselves will usually show if a level is going to hold. There are plenty of examples in the thread where this was posted......
http://www.forexfactory.com/showpost...postcount=6490
Trading Levels with WRBs
  • #108
  • Apr 14, 2011 3:11am Apr 14, 2011 3:11am
here is another example....from last week....8th april...look at point A...sudden move down...increase in volume....potential long...but potential is not confirmed by any other sign...if u r good and bold enough, u could have gone long based on potential alone...boom...it goes up 40 pips...

now here is something interesting....between point A and point B on the volume MA window, you see that the MA is still rising as price goes up...which means that volume is going up as price is going up...sudden move up as well...potential short coming up...confirmed by area of previous resistance (pull out a 4H chart and u will see the resistance)....so potential short confirmed and price goes down after point B...a bit later, u see that price again comes back to price at B with the bar finishing at the lows...further confirmation of ur short...boom, price goes down by 40 pips...with DD of 15 pips...easy...aint it??

now look at point C...u see that volume MA has come down at point C....why?? look at the PA before point A...u see that price is consolidating there...which means that all the orders at the price level of C have been cleaned up....so when price comes back down to the region C, all orders have already been cleaned up (by the action before A) and price simply goes down after C...if u had understood this, thats a further 30 pips from the short....potential 70 pips with DD of 15...not bad...
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 16 KB
  • #109
  • Apr 14, 2011 3:17am Apr 14, 2011 3:17am
Quoting Islander
I follow on 5m, and around FO / LO on the 1 min chart, and watch the PA, especially around these levels. The candles themselves will usually show if a level is going to hold. There are plenty of examples in the thread where this was posted......
http://www.forexfactory.com/showpost...postcount=6490

Thanks Islander...
  • #110
  • Apr 14, 2011 3:32am Apr 14, 2011 3:32am
nsk,

Thank you for more examples, but best is to use live examples, and not past one. Live one will be much better to understand for everyone and to spot real trades as it's develops.


Quoting ns_karthik
here is another example....from last week....8th april...look at point A...sudden move down...increase in volume....potential long...but potential is not confirmed by any other sign...if u r good and bold enough, u could have gone long based on potential alone...boom...it goes up 40 pips...

now here is something interesting....between point A and point B on the volume MA window, you see that the MA is still rising as price goes up...which means that volume is going up as price is going up...sudden move up as well...potential short coming up...confirmed...
  • #111
  • Apr 14, 2011 3:48am Apr 14, 2011 3:48am
Quoting Knez
nsk,

Thank you for more examples, but best is to use live examples, and not past one. Live one will be much better to understand for everyone and to spot real trades as it's develops.
we already took a live trade today which ended in loss....if i had more live ones, i would post them as i see it...till then, u have to live with historic examples...

also, dont expect me to post live samples as soon as they happen....i am a trader, money manager and have other businesses as well...posting here in not my job...:-)...i will post when i have the time...
  • #112
  • Apr 14, 2011 3:50am Apr 14, 2011 3:50am
Quoting ns_karthik
awesome Courtney....way to go!! within a few days , i guess u will become better in this than me...great...then i can learn from u...:-)...

this strategy works well on eurgbp as well!!!

Thank you I'll T&M EU/GB.

Thanks for the encouragement and I doubt I can teach you anything...

One thing I am learning is be patient and avoid overtrading (sorry thats two). These two are my inner struggles.
  • #113
  • Apr 14, 2011 3:52am Apr 14, 2011 3:52am
nsk,

of course not expecting you to post as soon as they happen, but after you end your trade, please post them with the explanation.

Thank you.



Quoting ns_karthik
we already took a live trade today which ended in loss....if i had more live ones, i would post them as i see it...till then, u have to live with historic examples...

also, dont expect me to post live samples as soon as they happen....i am a trader, money manager and have other businesses as well...posting here in not my job...:-)...i will post when i have the time...
  • #114
  • Apr 14, 2011 3:57am Apr 14, 2011 3:57am
Quoting courtneywild
Thank you I'll T&M EU/GB.

Thanks for the encouragement and I doubt I can teach you anything...

One thing I am learning is be patient and avoid overtrading (sorry thats two). These two are my inner struggles.
well anyone can learn from anyone else....idea is to keep an open mind and u will be amazed that u can learn a lot even from a 5 year old kid...

as u said, being patient is the key thing...for that, we need discipline and thats not something that comes easily....
  • #115
  • Apr 14, 2011 3:58am Apr 14, 2011 3:58am
Quoting Knez
nsk,

of course not expecting you to post as soon as they happen, but after you end your trade, please post them with the explanation.

Thank you.
sure...:-)
  • #116
  • Apr 14, 2011 3:59am Apr 14, 2011 3:59am
Quoting courtneywild
Thank you I'll T&M EU/GB.

Thanks for the encouragement and I doubt I can teach you anything...

One thing I am learning is be patient and avoid overtrading (sorry thats two). These two are my inner struggles.

and once u learn patience, lemme know...i have some 4H strategies which need a huge amount of patience but are just as successful and profitable..
  • #117
  • Apr 14, 2011 4:03am Apr 14, 2011 4:03am
Courtney,
u seem to have picked this well...i guess we all missed a potential short on the euro abt 3 hrs back...can u post the 15M chart of that and explain how we could have traded it? sorry for burdening u but once u post things and write down trades, thats when u learn the best....
  • #118
  • Apr 14, 2011 4:09am Apr 14, 2011 4:09am
sold EU at 7:37GMT after stall at resistance and decreasing volume, SL just above the swing high
Attached Image (click to enlarge)
Click to Enlarge Name: volumetrade.jpg Size: 124 KB
brax64
  • #119
  • Apr 14, 2011 4:10am Apr 14, 2011 4:10am
Quoting brax64
sold EU at 7:37GMT after stall at resistance and decreasing volume, SL just above the swing high
awesome brax...if i were u...i would taqke profit now...
  • #120
  • Apr 14, 2011 4:16am Apr 14, 2011 4:16am
closed half position at 4472 (21 pips) sl at be... maybe can go down further..?
brax64
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