Using Daily Support/Resistance for Intraday Trading

[DbPhoenix]

	Quote:	trader273
	OK, I'm not going to try and pretend I understood that. Maybe if I spent some time on it I could figure this VSA stuff out, but what is the point? Make something complicated when it needs not to be?? That makes sense. I'll just stick to simple candle analysis since it works and many, including me, have shown trades before the move occurred. Why add all this other "information"? Markets are simple, it's the traders that feel the need to complicate things.

First, it's not VSA.

Second, what's to understand? You bounce off support. If it's serious buying, you get a V reversal, perhaps off a hammer. If it's not, you get a retest of the bounce. If you want to enter off the hammer, that's up to you. Wyckoff suggests that you wait for the retest. That's all there is to it.

[SunTrader]

I think it is a matter of opinion as to what is simple and what is complicated related to one's length of market experience.

[DbPhoenix]

	Quote:	SunTrader
	I think it is a matter of opinion as to what is simple and what is complicated related to one's length of market experience.

If you can't put it on a 6x8 card, it's complicated.

[james_gsx]

	Quote:	DbPhoenix
	If you can't put it on a 6x8 card, it's complicated.

LOL! I love it.