This video breaks down the entry I took on the EUR/USD during a recent live training session. Members can view the recording in the member’s section, as this will show the process of how the entry came together.
In this video, I detail how I use volume to confirm a market reversal trade setup. Volume was key to this specific trapping pattern, as the pattern alone was mediocre. This video goes over two specific ways I use Volume Spread Analysis to confirm market reversal points, as well as some of the differences between using VSA in forex vs. equities that we must take into consideration.
About 7-8 minutes in you will see a screenshot of the actual entry price at which I took the short as well as the profit target that was hit for my standard +50 pips. This trade eventually ran over 180 pips, but it’s important to keep in mind that consistency is pivotal to trading success, not one or two home run type trades. Please comment below even if you only took the standard 40 pips. It’s always nice to see members catching more pips than I do!
Chad
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Hi Chad,
Many thanks for this video for the 26th March. I found it so easy to understand and very helpful. Do you have any more videos showing how to use the VSA method or can you point me to the correct location in the DTFL forum.
Best Regards,
Howard
Hi Howard
Yup below is a link for members to see exactly how I still use VSA in my daily trade plan along with another members description of it in her plan. If you have any other questions feel free to shoot me an email or ask in the live room session. If you cant attend but prefer a live chart scenario I can cover it there so you can watch the recording later.
http://www.daytradingforexlive.com/forums/threads/using-vsa-to-help-with-aggressive-entries.206/
Take care
Chad
Sorry, Forgot the other link
http://www.daytradingforexlive.com/forums/threads/most-significant-vsa-patterns.662/#post-5765
Your strategies look promising. I took a liberty (sorry) and back tested. Six months data with primarily EUR/USD and GBP/USD. Interesting discovery: Seems to be more action in the morning Mondays, Wednesdays, and even a few Fridays. Tuesdays and Thursdays seem a bit dead, at least in the recent past. Does this have anything to do with the idea that most news events seem to come on Mondays, Wednesdays, and Fridays?
I’m about to try your stuff live. Thanks for sharing.
Your posting is ablloutesy on the point!