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TG
Initially you said.
Now you need to see a test of this bar, I'm intersted in why?
So if price just continued up then you'd not be on the trade?
Price has now moved a great deal from the initial "Setup" or Test bar.
Isnt the risk if trading long on this setup becoming too great?
I maybe wrong but Id have thought your buy (given the above in quotes) would have been the break with a stop below the second bar.
TG What "sort" of trader are you?
How do you incorporate VSA into your trading? |
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You would be wrong in making that assumption. The second sentence in the quote you put of mine in the post was
"It's obviously showing that the old support is now resistance, so if there can be a break of that, then I'd be looking long on a test of that broken resistance"
I reiterated that statement by saying I wanted a test of old resistance to know a long should be taken. If the test never appeared and price shot higher, absolutely I'd have been out of luck with that trade. no big deal since there's plenty of fish in the sea.
As for what sort of trader I am...I'm a cautious one. How do I incorporate
VSA in my trading? Exactly how I just said I would trade that chart. When there's resistance and price breaks it, I wait for a test of that old resistance to make sure the pattern isn't a failure. If it is a failure, I'll play that failure for sure since those are my favorite plays. If support is broken, then I'll play a short on a No Demand bar as it retraces to the previously broken support.
While price has now moved away from the initial test bar, that test occurred under a resistance point. I never go long right under resistance, nor would I ever advocate that someone do that.