DislikedPersonally, I like the idea behind the trade.
The trend is down and you are looking to trade in harmony with the trend. This is what Wyckoff and Tom have called trading in the path of least resistance.
Losses are endemic to trading. They are the cost of doing business. You can't avoid them. The sooner you embrace the fact that there will be loss in trading, the sooner the abundance of the market will flow your way.
Now, I would prefer to see the No Demand at a trigger level or inside the range of the trigger bar. But again, the fact...Ignored
- #21,163
- Jun 20, 2011 6:31pm Jun 20, 2011 6:31pm
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
Today's zone = Tomorrow's opportunity!
- #21,164
- Jun 20, 2011 6:38pm Jun 20, 2011 6:38pm
What about daily volume reliabity? If your brokers volume is reliable then it is so on any TF. VSA can be traded on any TF. Malc has suggested comparing similar days though more than day to day... such as comparing Friday's to Friday's etc... personally I don't look at daily much other than for a quick overall view at the end of each day just to see how the candles are building.
Or was it your first post? Futures I am told are easier to trade than spot FX as they are more regulated however I have only ever traded VSA on spot FX using my brokers volume (nothing paid for etc...). Volume is compared to the previous few bars when determining NS, ND, tests etc... however overall background and volume should be considered when taking a trade since it is not just one bar but a series of SOS or SOW that we are looking for to get long or short. I personally do NOT look at the moving average for anything more than a quick check to see if a bars volume is extremely high or low compared to average however usualy the volume spikes or drops that need to be watched carefully (as they represent SM action or lack of action) stand out with or without the moving average.
i appreciate your help
- #21,170
- Jun 21, 2011 9:52am Jun 21, 2011 9:52am
- Joined Jun 2010 | Status: Trader | 1,509 Posts
Everytime someone talks about trading with the trend even though vsa shows weakness or strength against it, I am reminded of the often misquoted "trend is your friend" cliche. Most people will say the trend is your friend but forget the rest of the quote which I feel is the more important part.
The full quote is "The trend is your friend... until it ends"
One more thing, before anyone corrects me on the exact wording please step back and realize they are both the same in spirit but my version sounds better.
- #21,174
- Jun 21, 2011 12:56pm Jun 21, 2011 12:56pm
I didn't take this trade on AU because that NS made a higher high, but the 30m chart just made a test when that bar finished and it showed no supply, so should have entered 
And because I'm new to trade with triggers, can you confirm if that's a trigger level? It's the close of that bar with high volume.
And because I'm new to trade with triggers, can you confirm if that's a trigger level? It's the close of that bar with high volume.
- #21,175
- Jun 21, 2011 1:08pm Jun 21, 2011 1:08pm
- | Joined Jan 2009 | Status: Trader | 1,259 Posts
I didn't take this trade on AU because that NS made a higher high, but the 30m chart just made a test when that bar finished and it showed no supply, so should have entered
And because I'm new to trade with triggers, can you confirm if that's a trigger level? It's the close of that bar with high volume.
GL!
Anyone who trades Aussie dollar, right now might be a good opportunity to take advantage at a great price imo. Price testing on 15m at decreasing volume.
GL.
- #21,176
- Jun 21, 2011 1:22pm Jun 21, 2011 1:22pm
you pointed out several good entries. i entered where you marked "SO to get the market rid of supply." Here, you were given several chances to take a low risk entry; it was testing that "SO" bar to the left, and failed to close below it.
GL!
I usually don't enter on high volume bars, thanks for the suggestion 