On big news events such as NFP (US Non Farm Payrolls) we often find that VSA prepositions for news and today was no exception.
GBP/USD 15 minute chart. I took the long at 158.66 after strength indications on our Advanced SOW (strength or weakness) Module and our Reverse Spinning Rowboat Signal Module. The trade is currently sitting at +80 pips and trailing.
This chart is being posted and was grabbed on my mini netbook (hence the small chart and lack of annotation) so I will do an annotated version from the mains in a moment.
Using SMART VSA it was a fairly easy play. When the trailing stop gets taken out I will be looking for a long USD basket trade on the inevitable profit taking although this is not a volume based play so I will not post the details in here but we are discussing it in the chat.
Please keep in mind SMART Trader itself is painting these bars which makes these patterns and setups much easier to spot and act on.
For more information or if you have any questions about SMART Trader Volume Spread Analysis (VSA) Software please visit SMART Trader at pipbuilders.com or visit our Live and Free VSA (Volume Spread Analysis) Chat Room at http://vsa.pipbuilders.com
Good luck trading and see you in the chat.
PRODUCT
DOWNLOADS
HELP CENTER
COMPANY