Good news everyone!
Had a successful buy on Cable today for 63 pips, adding 3.15% to the account and wiping out yesterday's loss, plus a little bit more.
You'll see in the screenshots that on the hourly i've marked two down bars on high volume and on the 20min two no supply bars. I had an order set for the first down bar and no supply 1 but this trade didn't trigger. Just as well really because it took another leg down before going up. I think the reason for this lies in the up bar after the first ultra high volume down bar. Whilst it is up, i don't think there was enough volume in it and therefore no interest in higher prices at that time.
The second set up was much better as the up bar following the high volume down bar had a decent amount of volume, indicating there was some interest in higher prices. This was confirmed by a small up move and a no supply / test (no supply 2 on the chart). My entry was, as usual, the high of this bar. This was a relatively stress free trade as it was in profit pretty much from the moment it triggered until the end. I entered the trade at around 16:20 and pulled my stop up to break even + 1 pip before a news announcement at 7pm.
Cheers,
KFT
Cheers,
KFT
Trade 14 - GBP/USD (Cable) - Buy @ 1.6047 - Closed @ 1.6110 = +63
Cable 1hr
Cable 20min
Hey ya,
ReplyDeleteu're doing great with vsa.
I start to focus on study vsa again, to add in my system, I think will rock! :)
I saw that you are on the Shamus Thread about VSA. cool!
I am happy with this trade but had 3 losers before that. That's my own analysis though! Yeah i'm in that thread but it's not very active - "vsa with Malcolm" is much better. A lot to learn from there. Hope the study is going well!
ReplyDeleteLiam
Have you thought of putting your SL, in the first low after the NS/ND bar, i have seen that most of your winning trades never came back to that point.
ReplyDeleteBelikewater on forexfactory
I like to give it some breathing space, but thanks for making that point, I must admit I hadn't really noticed that about my trades.
ReplyDeleteThe high of today is 1.6247 so far. Would have been nice to stay in the trade from my entry!
Cheers for the comment,
Liam
Hey Liam,
ReplyDeletewell I post 2 studies/trades that I did on Friday based on volume. I'm so happy!
I will take a look at this thread from Malcolm
bye