[jjthetrader]

Originally Posted by tawe trader »

I did enter a small stake short trade once the low of the upthrust bar was broken and I had a target of just above the R1 level.
I decided not to be too greedy due to the strength of the uptrend.

That was an excellent trade. There are usually a boat load of sell orders around the pivots which could have accounted for the upthrust but once you saw the close below it you were told it was more than that.

Thanks for sharing the trade. It helps us all.

[jjthetrader]

I was inspired by Tawe and thought I'd like myself a nice upthrust trade as well.
This is a 5 min of the ES that just happened this morning. High Volume, Narrow Spread Up bars start out our day with a top reversal mixed in there. Then we get a beautiful upthrust. I set my order entry based on the stop I can afford above the high of the upthrust and bam! I'm in and out just like that. At $50 per point per contract that's enough for me

[RAVIN]

Originally Posted by jjthetrader »

I was inspired by Tawe and thought I'd like myself a nice upthrust trade as well.
This is a 5 min of the ES that just happened this morning. High Volume, Narrow Spread Up bars start out our day with a top reversal mixed in there. Then we get a beautiful upthrust. I set my order entry based on the stop I can afford above the high of the upthrust and bam! I'm in and out just like that. At $50 per point per contract that's enough for me

You guys are getting at this, nice to see posts getting into strategy and tactics, think have enough of text book hindsight analysis.
Great trade execution in the context of immediate previous price action, one can just aim to master a couple of these setups, learn to identify them in realtime, and increase size, you do not need to understand every bar in terms of VSA, will drive you nuts

Notice you haven't got much response on your post 889, yes it is also an upthrust, a swift markdown in prices followed by an upward drift and a No demand , place to short. However if prices refuse to go down or bars that follow are on low vol, watch out, that is a sign of strength and a potent one at that.

[jjthetrader]

Thanks Ravin,

Here's a continuation of my chart to show the potential of a setup like that, even though I only captured a miniscule amount.

It made an 11 point down move, so far, from my entry point.

[RAVIN]

There you go, meant to say you guys are getting good at this,
Get hold of article "Day Trading S&P futures" by Linda Raschke, (on her website), there she mentions a Professional who has made a most enviable living for over 15years by trading just one of these setups and that also trading only in the afternoon (patience) and goes in with size. She says the moral of the story is he knows himself and what style works best for him and he always has a resting stop loss order in the marketplace

[tawe trader]

due to US futures being up due to the possible rate rise. I have been patiently waiting for a place for a quick short.

I meant to say possible rate cut.

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Thanks Ravin and JJ for your kind words of encouragement.

Great quick-in-and-out trade JJ, I know you may be kicking yourself for giving up a further 9 pts but even with the understanding of VSA we still can't predict the future with 100% certainty. We can only be patient and wait for low-risk setups to appear before acting.

After I got out of my trade the mkt went sideways for about 45mins before turning back up and past R2 level. I wouldn't have made more than another pt or two if I had stayed in.

[jjthetrader]

I'm happy with the 2 points. I had that profit target setup before I was in the trade. Money in the bank is a good thing.

[marketguy]

I was wondering if any of you are using TraderGuider software and what your experiences are?

Thanks