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Hi Zeon, now that you've posted the chart, did you have a question.
One thing I noticed about the one with the SC is that you drew your Support from the bottom of the body of the candle. If you're looking for VSA setups then you may want to consider the whole bar. This may be out of alignment with candle people, I have no idea, but something to consider. |
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I'm sorry if this wasn't clear, but the 1342 level comes from the 19th and the previous day low. The fact that the 'selling climax bar' (sorry candle) closes above the line isn't a coincidence for me. It shows that traders are interested in keeping price above this level, hence the buying pressure that comes in. I'm not sure how this relates to
VSA but I thought upthrust for example are a typical example of candles that spike outside the range, but close within.
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Eiger and I had support drawn at the same levels purely because these were floor trader pivots. |
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Hmm... that must have been very coincidential then? Do you mean the classic pivots levels?
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When trading in the 'middle of nowhere' your support is the background strength. Background strength with a nice test on a subsequent rally is a good place to go long even though it's not on support. In that case your support is lack of selling after a climax. |
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