yes still trying to understand the thread u recommended..i also have a look at charts u post here, I keenly wait for ur charts and then try and dissect whatever possible...
{quote} I am sorry to say this Emmy, but I am honestly disappointed. U asked for and I gave U what to read so that U can become proficient in trading and yet the basic hings U can learn from there, U come here asking the same questions, expecting to be spoon fed. Let me tell U, if U do not understand the basic behavior of price U can never make a dime from ur endevour For 8 yrs I put in bw 12 to 18 hrs on the chart to learn its behavior and to master it. Trading on instruments is the most risky preoccupation and can never be appropriated by the...
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i would love to learn. Can you please share that reading with me too? Thanks
Yes Emmy, now U come. But remember our mentor will never shot it. He will be waiting for price o come down to the support from where it zoomed off from before going long again. I trade the parabola maybe bc I am greedy or bc there are extra things I see. But he will never trade it
Just had a look at ur GBP/JPY trade and Im not sure about entry but u left that trade to run for a while as there was no real demand when u look to the left...plus when u entered there was quite a bit of momentum towards the downside, am I on the right track?
Emmy can U see why our mentor does not trade parabola?Sudden reversal occasioned by hidden divergence. Another thing to be wary of is greed. it is affecting me baldly on most pairs and as much as i can manage them i will close then in profit, i must master greed. Take some and leave the rest 4 the mkt.
hi Fx Action, Just had a look at ur GBP/JPY trade and Im not sure about entry but u left that trade to run for a while as there was no real demand when u look to the left...plus when u entered there was quite a bit of momentum towards the downside, am I on the right track? Regards
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Denis, take it easy. U cannot see everything at once. Just continue with your lessons and gradually yourr eyes will be opening. Remember it took me 8years. What you should do as Emmy does is when you see a set up anywhere alert me to check it up for you. The principle works in all pairs and all instruments, including stocks.If I tell U there is a holy grail .you wont believe me. Well it is what I just traded in EU. It can never never ever fail, itt is my own invention and I keep it close to my heart. More green pips to your elbow.
this is a basic example of VSA for today at EU. why i have a long position on EU.
remember, this is a basic example, I'm not here to spoon feed, you will get better understanding if you are willing to learn it by yourself.
ok an example
1. when the market, open, we have a very flat market, and the round number resistance got tested. that is the first arrow.
2. look at the volume, very small, so it is expected of a flat market. so i decide to mark that volume high. that is the red line on the volume.
3. and then, it tested the same round number resistance the second time. the volume are low, didn't go beyond the red line. this show that trader are not interested, low volume of trading. (this is important, when this happen, prepare to open a position)
4. look at candle after the second red arrow, it a bullish candle. quite straight forward, the volume exceed the marked volume line. this shows that trader are jumping in with buy position. we join them.
5. after the third bullish candle, you can see that the volume is decreasing, but the market still go up. this shows, that some trader are taking their profit out, waiting for retracement to jump into trade again.
6. now look at candle marked with '1'
7. the volume is about the same, but the price didn't go down much. a wick shows that buyer are still interested. and some of them are already pushing the price up.
8. the market continue the journey up.
9. now look at candle on the left side of candle marked with '2'.
10. what happen? the candle go up, but volume is decreasing. this is again, show buyer are taking their profit out, and expected the market to go into retracement again.
11. now, pay attention to candle marked with '2'
12. increased in volume of the previous candle, but still, the price remain there. (work your brain. increase in volume, but the price is still there? shouldn't increase in volume the price should exceed the previous candle? should the movement bigger than the previous candle?) this show that the volume that come in, is not only sell volume, buy volume are calculated as well. conclusion is, buyer are coming in again.
13. now look at candle after candle '2'.
14. increase in volume, again. a lot more transaction going on now. more than the candle '2'. but still, the price remain, there. with a long wick showing that buyer are coming in strong to push the price up again. we should join them now.
15. the third bullish candle after candle '2'. again, same principle. market goes up, but decrease in volume. again, what does this show? this show that buyers are taking their profit, and observing the market again.
this is the basic how i read the volume and price. now look at the current market on your graph, long wick, slow volume. sideways? or retracement? which way it will go? what happen now is buyer are taking their profit, seller a cutting their losses. newbies are selling. we should stay away.
