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jjthetrader

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Everything posted by jjthetrader

  1. jjthetrader
    In your second chart you're in a downtrend. Sometimes bars will appear this way in a downtrend as there's not a whole lot of selling pressure and nobody's able to get a bid going. You would also want to look to the background. If there's weakness there then you'll get bars that look like no supply but they're not, they just keep drifting lower slowly. It's a little hard to apply the methodology to trading because there's no hard and fast rule. All the 'rules' must be applied in context. The whole 'WRB phenomena' may distort things a bit to. WRB are like VSA bars, they need confirmation to have much value. I personally don't pay attention to them in the way that most do. I think Pivot Profiler turned me off to them.
  2. jjthetrader
    Textbook VSA actually. But VSA always tends to be 'wait for the confirmation bar'. So that wasn't a test (in their Williams eyes until confirmation). There's a tradeoff to waiting. Best to zoom down to a smaller timeframe to narrow your entry. I use a 3 min chart and it was clear as a bell to enter there. I always struggled with an entry without the confrimation bar. But if you look at it, your bar F was the high probability direction there. A long position on my end would have been taken when the high of F was taken out, this would have been confirmation enough for me. Good trade.
  3. jjthetrader
    Sledge, Hank Pruden has a book that gives you a nice overview of Wyckoff the way Eiger spells it out. It's worth the money. There's even some FX examples. Maybe see if your library can get it. It's called the Three Skills of Top Trading. There's a lot of psychology in there that you might appreciate also and Point and Figure Charting. Put your mouse over Hank Pruden and you'll see it.
  4. jjthetrader
    Well according to Eigers Wyckoff analysis you appear to be in an uptrend. So volume like that can stop a down move. You could retest the area. Watch for low volume. If you're not going to retest it then watch for a 'test in a rising market'. More than likely a sharp move to shake people out before a big upmove will take place. There's always the option of fading this is it fails.
  5. jjthetrader
    I would have to agree on the bullishness part. However, like Eiger, I am not in tune with cable. It seems to trend forever and thus being a reversal trader can be frustrating in this market (I know how much to like to short Sledge). But the market never actually ends up acting the way we thought it 'should'. You never do know so you take the higher probablilty trade. Keep us up to date Sledge with any trades you make and why. Good trading everybody.
  6. jjthetrader
    Hey Sledge, Beautiful top reversal on the daily. It was textbook with the second bar closing below the low of the upbar. I bet you were short there. Not quite sure what you're looking for? I know you know what you're looking at here so I won't go into it too much. On the hourly chart you have massive volume coming in on that downbar and it closes above the middle with the next bar up. That next bar up also closes above the high volume bars high. I see you have a line drawn up there around the upthrust area. So obviously we have a bit of supply which forms the thrust. But it doesn't continue down that far after the thrust because there is still strength in the background. FX is not really my thing and I know that timing has something to do with what bar occurs in what trading session so someone in tune with this market, like yourself, would be able to give more weight to the VSA signals. cheers bro
  7. jjthetrader
    Well in that case, you're reading everything wrong! Just kidding:o These first few bars that you labeled 'no demand' which were later discounted are something that in real time you might just label as 'potential no demand'. I remember Sebastian saying you could drain your brokerage account very fast if you don't wait for confirmation. A bar doesn't actually become no demand until you get that second bar closeing but I know you know that. The tradeguider software won't paint until the confirmation bar either. I don't see anything wrong with you labels though. That first bar you pointed out that appears to have supply on it was basically that, a bar with supply on it. Tom says things like an upthrust isn't an upthrust unless there's weakness in the background so in this instance a bit of supply was hit but with no weakness in the background it's not enough to do much. I like your post because then I go over it myself to see if I see anything different and it helps me learn to. Cheers
  8. jjthetrader
    So glad to see this thread is back to VSA. Nice work guys. Great contribution Eiger. This is the type of thing I like to see.
  9. jjthetrader
    Naveen, great trade. Profit is never measly even if it's 1 tick. I liked your trade. You waited for the technical bounce to show exhaustion and shorted it. Personally I think your exit was good. That bar did have the makings of a reversal. There was no follow through but you didn't know that at the time so it was a good call. Better to take your position off the table and re-enter if necessary. Tawe Trader is right that a futures 'test' can have high volume. But as you can see there wasn't much to test to the left. It was testing the low of the range but most instances of real tests are testing high volume areas for supply. This one just seemed to be a bit of demand on support. S&R traders could have had their orders there. As far as trailing stops, this isn't really a VSA thing. It's a personal money management thing where you do what you feel comforitable with. VSA lays out the opportunities to trade then it's up to you wo work out your own style within that strength or weakness. As far as exits are concerned, it's good VSA reading skills to exit into the next high volume bar. Like I said, you can always re-enter. Personally though my exits are small preset profit targets, 1-3 ES points depending on the level of strength or weakness in the background. Nice trading, thanks for posting.
  10. jjthetrader
    Sorry to be off topic here but James what's up with your 10:55 bars volume? That can't be correct can it? Mine does not match that at all.
  11. jjthetrader
    I don't find them any different at extreme levels. If they're going to happen they're going to look the same where ever you are. It's just way easier to take the trade when you're at S&R.
  12. jjthetrader
    Chad, is there a way to remove the open from an traditional bar? I just want HLC, not OHLC. thanks
  13. jjthetrader
    Chad, love the gradient background!
  14. jjthetrader
    The two previous bars were strength and appear to be a bottom reversal. At that point you wouldn't want to short until you see weakness and that 'upthrust' looking bar was on huge volume. I've found that upthrusts with huge volume are not great to short off. I've been burned the same way. Sorry to hear you got stopped. Thanks for posting so that others may learn though.
  15. jjthetrader
    Good morning Chad, does IRT have a market depth type of window graphically showing bid and ask at say 4 levels away from price? It's a feature I had in tradestation so just wondering if I have it now with IRT? thanks JJ
  16. jjthetrader
    Why I couldn't see that I have no idea? Thanks.
  17. jjthetrader
    Good morning Chad, I'm wondering if I can get the time and sales window to float? The only way I can find to bring it up is with the toolbar on my MP chart and can't find the option to float it. Is there a way? thanks JJ
  18. jjthetrader
    DB, I didn't mean brutal as in pissing people off. I meant brutally honest as in no sugar coating the truth.
  19. jjthetrader
    Gotta love DB. He's to all of us VSAers what Simon Cowel is to American Idol. He cuts straight to the point, is brutally honest and is the kick in the pants we all need to become better at what we do and drop what's not working. Thanks for the clarity DB.
  20. jjthetrader
    Hey Chad, I've got an issue with my Value Area Indicator on my candle chart having different values than my MP chart. Is there a way to resolve this? thanks
  21. jjthetrader
    That's great, just what I was looking for. It's funny that it's crlt up in candle charts and shift up in MP. That's what screwed me up. Thanks for the pointer.
  22. jjthetrader
    Hi again Chad, I've looked on the site and watched the Market Profile vidoes but can't find how to condense the info down so the whole days profile fits on the screen without scrolling up. On a bar chart ctrl + up does the trick but not in MP. Can it be done? thanks
  23. jjthetrader
    Yep, that was it, thanks again.
  24. jjthetrader
    Sorry to keep asking questions. I am looking on the site to see if I can find answers first. The Delta indicator, it doesn't show up in my list. Must I import that as well? thanks JJ
  25. jjthetrader
    Perfect, that answers my question. I'm liking the new improvements you're making. JJ
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