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Quoting KinsaleForex
{quote} Oh I hadn't seen that post, missed it with the last few replies. There's a projected down side of 1.4970 for GU, it'd be great to see that hit over the next few days so I can chalk another successful target up to PnF! Not to mention it'd be nice for your trades too! {image}
Since everyone is posting up GU charts, here is one I thought was interesting, maybe a lesson for someone out there.

4h chart based on LO.

Yellow lines look as if they could be potential stopping volume, but honestly the volume was a bit lacking. But we will roll with the potential buying, if professionals were bullish off the potential stopping volume then we would expect to see the low of the potential buying to be tested, which would be testing for sellers, but instead (blue bars) the highs were being tested which professionals were testing for buyers. No buyers were found and GU tanked at news time.
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Quoting pres78
So VZA daily does work from a zone perspective now I have to tweak the entries to take what is offered with respect to set-ups and being able to make great R:R on each trade since trades will be few and far between. Take a look at GU daily June 22, 2012 bar is the highest volume daily bar on the chart area that I can see on my screen. Put a fib on it and BAM! Look where the recebt swing high stopped. Bang into that daily zone low. Price rolled over right into this level. I know I am back to talking to myself but what the hell no better place (for...
Hey nice to hear from you again! cant take the trading away from the man! any way your VZA takes a new approach. I see you use UHV bars and line them up with fibs to get best R:R entry,If i remember correctly you use to enter on 50% fib level of the highest vol bar at key levels -Do you still follow that?
Quoting Gxp1
{quote} Hey nice to hear from you again! cant take the trading away from the man! any way your VZA takes a new approach. I see you use UHV bars and line them up with fibs to get best R:R entry,If i remember correctly you use to enter on 50% fib level of the highest vol bar at key levels -Do you still follow that?
I will enter off H and L or 50% depending on zone width and set-ups. If zone is narrow 50% is too tight. I need to guarantee 1:1 before next line of S or R.
Today's zone = Tomorrow's opportunity!
We'll see in a few... "POSSIBLE" EU long 1hr test / NS bar into a fib zone high (weekly) / low (hourly) combo. Pending may be set at the high around 2900...
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Today's zone = Tomorrow's opportunity!
Quoting pres78
We'll see in a few... "POSSIBLE" EU long 1hr test / NS bar into a fib zone high (weekly) / low (hourly) combo. Pending may be set at the high around 2900... {image}
Presume that closed a bit too low?
Quoting SimpleDev
{quote} Since everyone is posting up GU charts, here is one I thought was interesting, maybe a lesson for someone out there. 4h chart based on LO. Yellow lines look as if they could be potential stopping volume, but honestly the volume was a bit lacking. But we will roll with the potential buying, if professionals were bullish off the potential stopping volume then we would expect to see the low of the potential buying to be tested, which would be testing for sellers, but instead (blue bars) the highs were being tested which professionals were testing...
Great lesson! At least for me, it was.
Thanks.
Quoting KinsaleForex
{quote} Presume that closed a bit too low?
Yes and now the signals are mixed. We hit 2900 with some volume on what is today's highest volume 1hr bar (right before the bar I was watching). We are staying above the low of the 1hr UHV, UWRB zone from yesterday so this keeps me bullish but the bar right after the NSP was a ND/UT so...

Current bar printing as a NS/test-ish type bar so still watching this pair for an intraday set-up... Waiting for NY open now since I slept through LO
Today's zone = Tomorrow's opportunity!
Quoting pres78
We'll see in a few... "POSSIBLE" EU long 1hr test / NS bar into a fib zone high (weekly) / low (hourly) combo. Pending may be set at the high around 2900... {image}

When a wide spred bar on h-uhv cuts through the fib level would you regard this as absorption volume and hence trend continuation?
Quoting Gxp1
{quote} When a wide spred bar on h-uhv cuts through the fib level would you regard this as absorption volume and hence trend continuation?
I would wait for confirmation. What is the reaction to the volume and push through? Was it a fakey and the market was sold into in which case the level does not hold? Do we see immediate buyers continue? Or do we see a bit of sideways market and a series of testing?

The key for me in my intraday trading has always been the reaction to volume. Patience to wait for the low volume signal. I've never been great at trading high volume signals like UT's. I prefer an UT and then a ND into the low of said UT.

The fib zones are just like any other S&R levels and when we see a break we should wait for confirmation of that break.
Today's zone = Tomorrow's opportunity!
EU Hourly

Last bar closed as a hidden test. Pending long set at 2891 looking for that 50% level from yesterday's 1hr zone. Don't like going long below 2900 (or at least this close to it) but the lower level is holding and supply seems gone so...
Today's zone = Tomorrow's opportunity!
Quoting pres78
EU Hourly Last bar closed as a hidden test. Pending long set at 2891 looking for that 50% level from yesterday's 1hr zone. Don't like going long below 2900 (or at least this close to it) but the lower level is holding and supply seems gone so...
Brought in on the next bar. Entry 2891, SL 2871 (below the hidden test by a few) and TP 1 was 2911 for 1:1 which was hit (just barely - to the pip ). I decided to give this one some room and left lot 2 SL exposed rather than take it to BE which is good because I would have been stopped out.


Worst case is SL hit for net BE on this EU position.
Today's zone = Tomorrow's opportunity!
Quoting SimpleDev
{quote} Interesting post, lets go at this with a bit of VSA logic. You are big professional trader, and lets say that you shorted a pair a few weeks ago. By shorting the pair you are essential flooding the pair with supply, once a pair has been flooded with supply it will not take much effort for price to move down. The S&P is a perfect example (see chart) when the S&P starts trending it does so on very very low volume, because of the above reason. So now that your shorted pair has been flooded with supply, its extremely easy to move down, but its...
Thanks for the reply. I didn't understand why it moves up with low volume though, how does that relate with the heavy supply that there was before? If it moves up with low volume it either means SM is not interested or that there isn't much resistance to the movement right?

So in stocks you should be able to see accumulation in the monthly (or 2-month or 3-month timeframe) timeframe? It makes sense because as you say the accumulation is slower there, I'll check some stock charts... By the way, any idea why the accumulation in stocks is usually much slower?
Quoting pres78
{quote} Brought in on the next bar. Entry 2891, SL 2871 (below the hidden test by a few) and TP 1 was 2911 for 1:1 which was hit (just barely - to the pip ). I decided to give this one some room and left lot 2 SL exposed rather than take it to BE which is good because I would have been stopped out. Worst case is SL hit for net BE on this EU position.
Well second half is still alive and kicking decided just now to kill all exposure and move to BE at 2891. Will let this run (or crawl) awhile longer and decide again. Draghi speech in 5 hours, I hope this will give EU a boost in activity...
Today's zone = Tomorrow's opportunity!
Quoting pres78
{quote} Ok so GU as most pairs was dicey during old Burn-the-cakes speech today, not so much during FOMC which offer little bang. As I noted in an earlier post I decided today to leave my SL's as they were to give some market breathing room and they did stay more than safe so now that I am home from work I am able to tighten my SL's down to secure some pips. Green Line was my 4 hour entry (called ahead of time) - Entry 5230, SL 5285, TP1 5175, TP2 trailed - TP1 hit yesterday Blue Line was my daily entry (called ahead of time) - Entry 5160, SL 5230,...
Well I decided to kill my GU shorts at 5065 after that last hourly bar closed as a NS above the low of yesterday's 1hr zone (lower white fib). While we had moved below from this zone we never moved away and never printed anything that looked like a good short entry into the low. LO took us back into the zone and we never looked back (good for my EU long). After that last hourly closed as NS I closed my shorts as noted and dropped to the 30 minute chart and placed a long pending at the high of the test bar that made up the last 30 minutes.

I was brought in long at 5080 looking first for that 50% level at 5100 for 1:1 which has been hit. Have moved the second half to BE+1 hoping we may see the zone high (5156ish) this afternoon. Wait see all risk gone now so I will let it ride and evaluate later.

Sorry for the late posting on this one busy, busy trying to do the fulltime job and intraday trading thing again.
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Today's zone = Tomorrow's opportunity!
I just got my pictures back from the photolab today that I took during my first day back in the forum. We were having great fun so what I can't understand is how come when it was my turn to be "it" in our game of hide and go seek none of you came back?

Attached Image


Hello? Is anyone still hiding out there?
Today's zone = Tomorrow's opportunity!
Quoting pres78
I just got my pictures back from the photolab today that I took during my first day back in the forum. We were having great fun so what I can't understand is how come when it was my turn to be "it" in our game of hide and go seek none of you came back? {image} Hello? Is anyone still hiding out there?

Ha Ha!! Clue- try sekking them out behind wide spread trees at the fib level of 0.5 from where you are!
Quoting Gxp1
{quote} Ha Ha!! Clue- try sekking them out behind wide spread trees at the fib level of 0.5 from where you are!
Today's zone = Tomorrow's opportunity!
Quoting jamielee
{quote} Hi pres, nope not talking to yourself how do decide to take a zone off the chart? Jamie
Normally a new higher volume or similar volume zone will overtake an exisiting zone. If the chart starts to get messy I will take them all off zoom out look as far left as I can see on the max zoomed out chart and start to put on what I see as the key zones with respect to PA. If it's still messy then I will go up from say 1hr zones to 4hr zones to try and capture multiple zones within one larger zone.

The wider the spread, higher volume zones are my favorite because I can try inside the zones and not just away from them. Applying the zones is just like any other support or resistance line or zone that others draw at imporatnt swing highs and lows and as with these or even a simple trendline there is a bit of an art to it and with anything we manually add to our charts it can be subjective to what each person sees as being important.

If you focus on the highest volume, widest spread bars to start on say a 1hr chart and look for VSA entries on 5 or 15 minute charts it should start to make a bit of sense and you should start to see the power of the zones.
Today's zone = Tomorrow's opportunity!
Quoting pres78
{quote} Well second half is still alive and kicking decided just now to kill all exposure and move to BE at 2891. Will let this run (or crawl) awhile longer and decide again. Draghi speech in 5 hours, I hope this will give EU a boost in activity...
Well EU finally hit that 50% fib from yesterday's 1hr zone but has been struggling there for the past 3 hours with the latest bar potentially closing as a ND below 50%. If this happens I will close my open long position. Was going to wait for Draghi but I don't want to watch this anymore... May set a short at the low of the ND... will decide in a bit.

All I know is topside seems done today and I don't care to hold a 1hr TF trade overnight.

GU looks a tad different with price coming down to 50% on NSP but remains above so I will hold this one at BE for a bit longer.
Today's zone = Tomorrow's opportunity!
Quoting pres78
Sorry for the late posting on this one busy, busy trying to do the fulltime job and intraday trading thing again.
Wouldn't worry about posting to the minute updates mate, can always wait until you're home to do that!

Quoting pres78
Hello? Is anyone still hiding out there?
Ok, i'll post something. I spent today looking at EUR/JPY for the most part, it looked the most promising from a PnF perspective with the potential for a triple top break. This eventually came to pass and it went 60pips from the entry and before there was a decent reversal.

I suffered from some indecision and ultimately decided not to take the trade. We'll forget about the PnF side of things as it was the 1hr HLC that made my mind up not to take the trade. If you or anyone else could show me why it was a good position to take, that'd be great.

On to the chart,

Three zones, marked 1, 2 and 3. The volume that came in at 3 today was essentially the starting point. This coupled with a bounce in a nice area based on PnF zones. I've marked a yellow box on the chart and this is where the market struggled to push through and closed above the low of 1. The red upthrust would've taken me into the trade based on PnF but I had already decided not to take it based on the fact it couldn't close above it. I felt happy with my decision once I saw the upthrust form.

As you can see, it continued to push up over the next few bars. Can anyone find a decent entry here? On this TF or on a lower one? 15min for example.

Does the high volume at 3 "outweigh" the volume we're seeing at 1 and 2? Hence the eventual push through?
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