Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
soe ideas ...with the hi vol anchor candles, price can pb to vwap.Also, when pivots are close together, watch for HH/LLs, and follow what price is trying to do and how well it is doing it.A sll candle at the highs above the pivots indicates sellers pushing back dow to pivots...look for ddts
An anchor candle is typically a very high volume engulfing candle that produces a few legs in a given direction...I labelled a hammer as an anchor, which is rare.But, the effect is the same, ...be very careful fading these candles until a few legs have occurred.Of particular interest so far is the 1st pb to vwap.That can be a good entry with the prevailing direction......Also, imagine a large green anchor candle on huge volume.If price pulls back into the liquidity of this candle, it can be a good buy opportunity.Entry can be a 50% pb into the candle for this with a hammer to signify buyers came in...SL just below tail.For forex, im using 30min candles for now,but it happens on all time frames.
Given time I think you will come to see That the pivots aren’t that relevant but the flow of price is more so. Your working hard and will soon be reaping the benfits onwards and upwards next year bob.
Thanks Rassi! i hope so, as im looking at forex completely different than futures, and thats good.I think the pivots are just price points to view price action at.Especially when they penetrate a pivot.Does price want to continue, or does it struggle.And then the candle entry.I need to keep it simple
a trade on eurusd i took in my mind, as acct is not setup yet.Price got above w/m pp.Then printed a nice sell candle.Entry can be just after close of SC.One thing ive always toyed with,which would have been nice here, is to enter at 2 levels.Ist entry at close of SC, then split the amount between candle close and candle high.This would have worked here, but price will not always come back.Its basically averaging in, stop just above high of candle(the edge for this setup),,,,,,,,,,,,,,,,so on this, if i took 1 entry at candle close, it missed my target by 2 ticks.And then printed a buy candle off of wpp.Its not a surprise, but the legit question is, should I reverse?Looking left, we did not have a big vol spike indicating capitulation, so, price almost came down to vwap, and we get the nice BC(buy candle.Looking right, we get another SC...so there is a battle here for sure.Bottom line is i want that 1st scale to eliminate risk on this trade.