Timing the Trade

Sell signal was the supply zone. Buy signal or my target is based on the nearest demand zone. In this case, me and bantro exit the trade using the same demand zone. Except he trades futures and I trade spot (which I hate now!)

Apfelsaft:

There is a nice demand zone sitting around the 132.00 level that also is close
to the 76.4 retrace. That's assuming PA starts moving down from the current level. If not, the fibs will need to be redrawn.

Lot of confluence lining up for the EURUSD (Spot). Area of interest for me is illustrated on the chart.

Tilf,

Nice chart. Here it is on the futures side.

Refer to post # 184

Refer to post# 205:

Potential setup if PA continues to move up and test the higher fib levels and the supply zone above.

Many thanks guys!! I really appreciate!
Would you also consider these areas as S/D?
Demand: confluence at this ares with a long volume candle up.
Supply: break down

hi bantro,
do u still have ur oder in?

PA seems to be hovering ard the 50% fib now

the Euro might be moving into position.

i took it on demo to see if im setting them up right....see if i can hit the TP at 38.2 fib retracement... half way there. :-)

EURUSD

IMHO you ae a bit late,
1H might get reversed to north with more bad news..

Took the Euro short today, almost to the pip entry. Also took a Gold long 1272.50 and closed at 1282.50 (that's about 100 pips I suppose).

Here is the Euro chart.

nice1 Tilf, I didn't even see that gold entry until you just mentioned it.
i'm starting to like this system :-)
i wonder what the win percentage on this system is.

I have added my own filters to this system to make it better. I try and take just one trade out of many markets. Unbelievable if i tell you, my win ratio has been 100% on about 10 trades I've taken! All thanks to bantro, rocky and sam seiden.

You just need to know volume analysis very well and a little bit of observation power + Elliott Wave. Elliott wave is the least preferred filter for me. That said, I already have about 10 years experience in this market. Always look for a system that fits your personality. My personal preference is quick trades, rather than holding on too long on a trade. I do not have the patience to wait 5 days or 1 month on just one trade. Stress is also a consideration if you think of it. Too much stress for just a little more extra money may not be worth it.

I write down every day on a piece of paper certain things I need to do before trading. It sounds really silly to some people but it keeps me focused

I write the following:

1) Take care of your losses, and profits will take care of itself.
2) Do not worry if you miss a very good trade today, you will die one day but markets are eternal.
3) No matter how sure you are, do not risk more than 1% of your account.
4) Once you have a profitable trade in a day, tear this paper and switch off your laptop.
5) If you have a loss today, tear this paper and switch off your laptop, this system will work some other day and you will recover.
6) One trade at a time, forget all the previous trades.

This exercise is quite helpful if you want to stay focused

Added on edit: You might wonder why I wrote all this, It is just to illustrate that a good system alone is not sufficient, even if the win ratio is 100%. There is a lot to trading than just good systems. You will find 100's of set ups daily using this system, but to choose which set up is worth it requires a lot of focus.

incredible!! , i've been trying to learn trading the markets on and off for over 5 years and this is the first thing that has ever worked for me. I'm about half way thru the Rocky thread, watched some of Sams videos, and read this thread front to back (along with heaps of other stuff on VSA i've watched & read).

I don't really know much about Elliot wave (other than the simple concepts of 12345ABC), and i still struggle to see how Rocky organizes his fib extensions to find high probability zones, but i do recognize the S&D zones on the chart and am starting to get a better grasp of how volume can reveal possible reversals.

I've read quite a bit on trading psychology as well, and i like your focus list, looks like you're in the 'zone' :-)

IMHO, extensions can be left aside if you struggle with it. Guess what, I've struggled with it too at times. You just need to know 12345ABC in the elliott wave, and if you can find some simple patterns, it really guides in holding trades longer. But again, it is not absolutely important I would say. S/D zones and volume is paramount and you do not need anything else. I generally analyse volume differently from VSA, like trying find out what story market is telling me at each candle. I read a lot of comments on this thread regarding volume, there is no perfect way, but I will try and find out time to illustrate how I see volumes and use it for my trades.

My volume analysis. Hope this stuff helps anyone. Sorry to hijack your thread bantro!!

It is the 15 min EURUSD spot chart for the day .....

Candle 1: Bull candle, Green volume(higher than previous) after a steady consolidation. Indicates buyers are interested to push it up

Candle 2: Market moves higher after buying interest, but here comes the first strong looking bear candle, but wait the volume is RED (lesser than previous bull candle). Sell interest is there but not much to push it too low.

Candle 3: Bullish looking candle, GREEN volume, after a steady consolidation. Tells me buyers are still ready to push it further (remember sellers were not interest previously!!).

Candle 4: Same as 3, steady consolidation and then a bull candle on green volumes

Candle 5: Market goes up as buyers push it. This is a doji but the close was minorly bullish (close>open price). But look at the volume, its RED. First sign of dis-interest in taking higher. This is not THE reversal signal, I need more candles to claim a reversal

Candle 6: Arrival of late buyers after dis-interest. Green volumes, bullish candle .... hmmm still some dancing left.

Candle 7: Ahh doji, dis-interest, you are here again! Same as Candle 5 explanation.

Candle 8: High alert moment for me. Market in the supply zone, bear candle, Large green volume. All this is happening after late buyers have come in!! This only means one thing - Reversal is nearing/happening.

Candle 9: Here comes the final confirmation. Look at this small bull candle, and look at the volume ...RED and pathetically low. No one is interested to take this up any more. The volume, look at it ...literally so low! This is going down baby.

Candle 10: Proof that volume can help you trade better Green volume, bear candle, reverse the story

I might sound like too silly after you read the above explanation, but silly me is helping me understand the story that market is trying to tell.

DYODD and all that because this is NOT perfect. A weird news around the world can send the markets through the roof, but on the brighter side you would have a new demand zone to profit from!

What is my volume analysis telling me right now for EURUSD?

It is expected to test 1.3507 - 1.3513 buy zone as there is little buying interest at the moment, and sellers are getting restless. Let's see, not trading it anyways!

Tilf,

This thread was started to show a different path. Knock yourself out!