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OK VSA'ers. I'm stumped in this one. It was a wacky and weird day for the GBP/USD with almost a zero sum game today. Ugly bars abound and no "fluid" movement.
Any thoughts on these bars/charts? One is an hourly chart. The other is a daily so that you can get a "feel" for the current state of the market!
Thanks!
Sledge
Attachment 5602
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Hey Sledge,
Beautiful top reversal on the daily. It was textbook with the second bar closing below the low of the upbar. I bet you were short there.
Not quite sure what you're looking for? I know you know what you're looking at here so I won't go into it too much.
On the hourly chart you have massive volume coming in on that downbar and it closes above the middle with the next bar up. That next bar up also closes above the high volume bars high.
I see you have a line drawn up there around the upthrust area. So obviously we have a bit of supply which forms the thrust. But it doesn't continue down that far after the thrust because there is still strength in the background.
FX is not really my thing and I know that timing has something to do with what bar occurs in what trading session so someone in tune with this market, like yourself, would be able to give more weight to the
VSA signals.
cheers bro