The Volume Detective

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Update:

Didn't fill my stop but got too it. Further vol rejections of high. At b/e, +4 atm. Need a NS on 1m too keep me in longer.
Edit: And were out @ b/e. Got 1m NS as shown but best place for one is lower, marked in red arrow:

Edit: And missed the ride. Went up to profit target. Was risking 3 for 14. Got 0, lost 0.

It sounds complicated.

You can trade the FX spot by using FX futures data. I scalp EU and GU using TPO/Volume profiles and Footprint with the 6E and 6B data.

Yes, I would almost do that but my stops are too tight, the spread on spot would get me too many times I think.

BTW EU spot is cheaper than 6E depending the broker.

Which broker do u use?

A 1m volume analysis of that top.
1m

Notice how ND and NS are much more about position and high volume of previous candle than color (with the 1 min tf).\
Edit: And the result, note 5m chart shows an actual hangman, not low vol test etc. Edit: My trading partner would call it a failed test, I guess most would, my brain doesn't think like that, both are right.

On a fucking side note.. this is why I can't post live trades on here. I miss them then.

Infinity

Long, no comment now, + 8 so far

Edit: taken out b/e (should have taken 8, 1m was rather telling, not going higher yet as per this:
1m

Edit: All this going long was inside a supply zone, so, there you go, maybe I should have not had my blinders on. Was easy exit for 8 at top of supply zone.
3m

What a rinky dink couple of N.Y. sessions so far..

Making sense of today's N.Y. session.. anyone care to try? It was rather fun for how flat it was, signal rich day, I got some and missed others. Here's a chart with what I think are some of the more important intervals. Single timeframe analysis is not my thing, I'm beginning to rely on and need the 1m for proper volume analysis (as well as 5 &15 at minimum), but it may be easier to stick to one timeframe while looking at a whole session.
I'll leave it blank except for numbered intervals, and add my analysis later (there may be at least one person out there willing to try, and it's not like you can really be wrong... that must be why there is so many people that hate this exercise?). I kind of ignored the price action and didn't put in the supply zone around the 9:30 start.
3m

Any update on TopStep Trader?

I'm just waiting on a getting a few things in order and adding a bit more of the WRB analysis into my method. I have many discretionary entry's but just one really solid one based off VSA and WRB, it's a continuation entry though, now I need to just put together my solid reversal entry (I have many but non with set in stone rules). I used to think reversals were so much easier and now something snapped and it's the other way around. I hope to start on the 18th or the 25th, no later than that.

The more I find out about it the more I realize so few people are actually funded is that they are all working on building there account up (cushion) before they can take profit, and it seems most get knocked right back into the combine, rinse and repeat. Great way to prey off of the thousands of wannabe traders! At least they instill solid habits in their traders. The rules can be so constricting about loss limits though I can see how most peoples methods just won't work with it.

1. WRB down bar on high very high volume, closing pretty strong. This bar must have had buying because it immediately runs up to test the high and is rejected again.
2. 3rd attempt to fall and rejected on high volume, bullish hammer. I was long next candle but...
3. Nice engulfing candle and WRB, good confirmation of bullish hammer, safe long here in my book. It also doesn't leave a demand zone per se behind and closes above the prev 12 candle bodys as well as above sma fwiw. It made me stay in the trade, the harami cross 2 candles prior on no volume had me suspicious.
4. The 3rd WRB since long from hammer, good take profit, wish I held it that long. It creates a demand zone, and price falls to test bottom.
5. Test of supply
6. Test of supply or hangman
7. Upthrust, confirmed next candle. Price closes back in the range of candle 4 and is testing again for supply next few candles.
8. Strong up candle on no demand. I would be less suspicious of this candle if it was ND above candle 4, price is known to rise on no demand for a bit after there is no supply found.
9. A low vol test confirmed next candle, gaps up 1 tick fwiw. Price is still under the influence of the top support/resistance line of candle 1 here.
10. WRB up bar creates a demand zone. Price is rejected from candle 4 body high.
11. Maybe a failed low vol test. A hangman confirmed next candle.
12. The most interesting candle to me, a bearish harami cross/upthrust on higher volume, with two ND like candles before it, next candle after is a failed high vol test and or hangman.
13. ND followed by,
14. Hidden upthrust at Supply zone. Could be looked at as a failed high volume test for demand as well maybe.
My take on today anyway, I did not read it that well as it happened, but that's what this is for, to drill the patterns etc in my skull.

Trade before news. It set up nicely, at support area (value low of London). Took 70. The TPO is easy to read and helps when it opens in value where it did and rejects right away. It always could have went up a bit and slammed down but it wasn't as probable. It did a 2 tick test from RTH open and never looked back.
3m720, 1m, 3m, 7tpo,720tpo

-Alexander Elder
I was going to underline and highlight some parts but it's all too good.
Another:

Here's a few charts showing nice examples of zones and the interesting price action around them. The more I look back and study, the better I'll be at seeing this stuff live I feel. I knew this wick on last Thursday's news (PPI & Unemp claims) was going to be an important zone, yet I didn't pay much attention to it after the fact.
3m

15m interaction with zone, 3 or more rejections then maybe resistance becoming support.

The beginning of London's session on Friday was particularly interesting.
3m,1m

And because I'm seeing more and more the shape of the candle is rather important on low volume, not the color, I'm more inclined to call that 1m ND a failed test for supply, rather than a ND. Tom Williams has said a ND will never have a lower wick (he is also getting older and has called many bars ND that did have a lower wick...). I see where he is coming from but practice always rules theory here in the market. He may have been right for the wrong reasons though, many are (I'm sure I certainly am).

A great concept, I never really thought of in these exact terms before reading this...

-Alexander Elder

LVT, they come in all colors, the shape and placement and volume background I use to determine what it is. For example this candle closes up with lack of volume (2nd highlighted candle), no demand, but it really dipped back down into a potential support zone (resistance became support), has a lower wick and closed on it's high, a low volume test, confirmed with the next candle close. There is a NS 4 candles after the LVT, probably the safest entry but for me that's too late, I get in early and am at b/e very fast, a lot of trades may come back and hit b/e but the ones that don't, really make up for it. I'm now aiming for smaller take profits but 4:1 or greater really crushes it, with multiple lots. I knew nothing about trading last September and learned from the DTFL guys first, before I learned anything else. It wasn't a bad first place to start at all, but they did plant the bug in my head that I needed to grab 40 ticks on a trade, it's taken me awhile to supersede that notion. I didn't take this trade here, just posting a nice setup. Note the first highlighted candle is wide body down candle, wider than last 7 candles, on UHV, next candle makes a lower low, and is then rejected back up past 50% of the first candle and closes on its high.
3m

Edit: Another LVT (same exact chart as previous), diff color candle, different zone, same result. The important thing is the background and placement (the fact that its in or touching a zone). If this LVT, had failed (the next candle closes below it), I would call it a hangman, and anticipate lower prices.
3m

Edit: Here is still the same chart, and an example of the failed LVT>hangman.

Everybody is welcome to chime in with criticism etc, in fact it's much appreciated, or my technical analysis and PA may get more deranged by the week.