Hi SD, I appreciate your inputs. yes, I acknowledge that I have to resolve some issues about my type of trading. I know I am a day trader, that is for sure. I also know that I want, preferably, find trades every day, because I trade for income. Also, I target 10 to 20 pips per day. I also prefer to trade only few pairs, eurusd, cabel and, maybe, audjpy. I also know that I am a VSA trader, nothing else(when I try to bring things back to the table, it results in s*?t for sure). Now comes the problem. I can find trades in every time frame! If I go...
Hi Jo, Might I recommend you have a look at my Dad's site (in my signature below). You might find some techniques to help you with the patience side of things. It seems to me that you're well able to trade, the next step is focusing that and getting rid of any bad habits that you're aware of. If even to get out of the corporation worker mindset that you mentioned. A shameless plug for his site, but that ain't gonna stop me
Well, eurusd puzzled me today.
You and I do not identify our zones the same way, but that does not matter. I too see a key change in the Supply/Demand Dynamic that creates a Supply Zone in the same basic area as you do. I don't change timeframes in my stlye of trading. But I could see myself looking to take a short after the Up Thrust 3 intervals after Supply coming in. In fact, I might even call that Supply coming in interval a Buying climax. But once I saw the test, I would be very worried. I would have ended up with a loss myself. I guess my point is... we both suck!
.... There are three huge overlapping volume zones and we have (at the moment) bounced in the area where the two largest zones overlap one another. It was never going to be an easy ride to push down through here.
Well, eurusd puzzled me today.
would it be now equally difficult to push UP through those high volume zones? I mean will those zones prove to be resistance zones now for the PA?? the reason I asked this coz I've seen a chart where the PA has pushed down through such HV zones, so will it face resistance now on the way up? Thanks. p.s. this was the chart you were referring to {image}
You were asking would these zones then act as resistance to the upside, the low of Zone 3 did exactly this at point C, we came up to the low, almost to the pip and the market reacted sharply to this area proceeding to make new lows. The low of Zone 1 acted as supported and some strength entered the market here, evident by the largest spike in volume since the high point at the end of January. This generated a long target which was hit. At point D the market came back slightly and the high of Zone 1 acted as support and we moved up further. The high...
Here is a view on COT charts. Sterling is positioned for a move up: {image} Euro, down: {image} US dollar is not that clear but seems that at least a pull back, maybe to the 80ish, is due: {image} COT data is very good for long term view, takes time to realize in the markets movements. For day traders is almost irrelevant but is good to have this image. Fore example, if we know that US dollar is due for a pull back(weak) and sterling is due to up move(strong), a good idea is to favor longs on demand zones. Have a nice weekend!
), I'm not very familiar with using COT report, can you explain how do you use the positions of commercials and large speculators to your analysis? Are the commercials the corporations who use futures to buy/sell commodities and hedgers? And does the smart money make a up a big part of the large speculators or not?
Well, eurusd puzzled me today.
There's more info on my blog but I just wanted to post a couple of charts here as well. Highlighting my Swissy short for the week. Loosely ties in with my last post about previous zones. The first chart shows an old zone from the end of January that provided support throughout the week and stopped my short gaining any momentum. The second chart highlights the resistance at the 50% of the highlighted zone, these three points coincide with the resistance at the zone low on the PnF chart. Nice how it all tied together. I took the triple falling...
