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CCL Today - 33 Ticks With Fibs, Harmonics, and VSA
First some background - Prior to arriving here at futures IO, I traded traditional TA using support and resistance, candlesticks, fibs, harmonic patterns and Elliot Wave. Was successful in Forex, but not so much Futures. ( I made the switch to futures when FXCM exited the US market. ) Let’s just say “it’s been a learning curve”.
Well, with Futures IO I have discovered the “next evolution” at least for me – volume! I read Keppler and Stiedlemeyr, and was on my way. Almost on cue Ninja Trader comes out with their order flow + suite and I am off to the races. Ordered NOBS Trading course, makes sense, lots of good stuff. Browsed a lot of the Wyckoff VSA stuff, and read up on Tom Williams and Gavin Holmes. And then, lo and behold, come to find out my harmonic pattern developer neoHarmonics ( Daniel Crystal) - has a Price Action Analyzer (PAA)which is based on market profile and VSA principles.
So I tested the PAA with some market replay on several markets, and with what I have been learning from the other volume stuff, felt confident enough to take it live. Traded CL using 4 range bars and the default settings of the PAA
Notice the VSA signals have confluence with key Fib retracement levels and harmonic patterns. And, at least with CL (4 range, RTH data series) the stopping volume signal has a high % of predicting turning points. I know true DOM watchers like John Grady say “turn off your charts and just watch the DOM”. I am seeing VSA is somewhere in between, but both are clear on one thing – trade with the smart money…and volume = smart money.
I don't explain my charts. If you like to follow my trades, look for these lines.