Bob Volman Price Action Scalping

[stehlikpetrmsncom]

More charts from Bob

Thank you very much Bob and BLS, much appreciated!

 

[Giorrgi]

Took two trades today. Not super concentrated cos I was testing another platform since I find my current free MB Trading data feed lacking especially when the squeeze is forming in barrier break situations. Trying JForex demo from Dukascopy which has the same data stream as Dukascopy normal accounts.

The first trade is a tease break of sorts, in the moment I thought it was going to be sufficient. I shouldn't have taken this trade.

The second trade was supposed to be an ARB. Here I think that the entry was pretty good but it didn't work out either.

 

[samich1262]

Question : how do you gauge squeezes on these angular breaks?

Also I have no idea how they work and I wanted to ask about them for some time now, so if you have any sort of detailed explanation I'd be glad :smart:

It's sort of a guess just based on the line. They might seem like they'd be inaccurate, but I have had good luck with them. I think they're usually some sort of setup on a higher time frame so that's partly why they work out, but when price makes a range, the buyers have the advantage at the bottom. They're best used for continuation trades, although I think I've seen one angular RB that Bob may have taken at the bottom of a sideways range. I would have to look back through the old charts from the first few weeks to verify that though.. Personally I try to long from the bottom of the range after a move up. They seem to be high probability trades for trend continuation.

 

[Yorkshire Terrier]

Took two trades today. Not super concentrated cos I was testing another platform since I find my current free MB Trading data feed lacking especially when the squeeze is forming in barrier break situations. Trying JForex demo from Dukascopy which has the same data stream as Dukascopy normal accounts.

The first trade is a tease break of sorts, in the moment I thought it was going to be sufficient. I shouldn't have taken this trade.

The second trade was supposed to be an ARB. Here I think that the entry was pretty good but it didn't work out either.

I took the same trade , looks like price going sideways waiting for ECB President Draghi to Speaks.

 

[Yorkshire Terrier]

link to ECB speech
Committee on Economic and Monetary Affairs

 

[BLS]

I couldn't resist taking that ARB either though I think I took a more aggressive entry.

 

[BLS]

Took two trades today, here's the second one. I saw bearish pressure working to push back on a failed 60 break and a possible pull from the 50 level. I guess a failed 60 break in the context of a consolidating market didn't mean much.

 

[stehlikpetrmsncom]

Took two trades today, here's the second one. I saw bearish pressure working to push back on a failed 60 break and a possible pull from the 50 level. I guess a failed 60 break in the context of a consolidating market didn't mean much.

I think your evaluation of the 60 level as a failed break was premature, so in my opinion in this trade it worked against you.

Although I did think about taking it, it was almost certain that there would be some buying at that distinctive low and the support. Simply put, the price would have to travel to the very low of previous price action.

Thank you for posting your trades daily, it's really helpful. Personally I found nothing today, except maybe an IRB during European lunchours, which happened while I was lunching, so I don't know if I'd take it.

 

[Traderallen]

I have had no issues with MB Tradings data feed. I thought about using a different data feed supplier just because I'd like to use MB desktop pro for equity options at the same time as I am running ninjatrader. but I have a great win/loss ratio using FPAS I learned from Volman and MB data.

 

[Giorrgi]

I have had no issues with MB Tradings data feed. I thought about using a different data feed supplier just because I'd like to use MB desktop pro for equity options at the same time as I am running ninjatrader. but I have a great win/loss ratio using FPAS I learned from Volman and MB data.

I'm using their demo data feed, it's okay most of the time except when volume goes up (just before a breakout). I guess "real" accounts might have a better data feed.

Currently I'm also using Dukascopy data feed (which is the same for demo accounts and normal accounts). I'll be recheking with Bob's charts by the end of the week to see which one really accurate.

 

[stehlikpetrmsncom]

My charts with notes.

 

[virtuesoft]

Well, that was a decent move at last. There was a BB and DD setup in there, both of which would have been profitable. I skipped both of them. I think that I became so tired, bored and frustrated by the price being stuck in a 15 pip range during the previous 6 hours, that I went a little insane. At each stage in the move up, I felt that the price would turn around and head back down again. It was a harsh lesson in remaining neutral, not trying to guess what the market will do, and just trade what you see.

 

[stehlikpetrmsncom]

Well, that was a decent move at last. There was a BB and DD setup in there, both of which would have been profitable. I skipped both of them. I think that I became so tired, bored and frustrated by the price being stuck in a 15 pip range during the previous 6 hours, that I went a little insane. At each stage in the move up, I felt that the price would turn around and head back down again. It was a harsh lesson in remaining neutral, not trying to guess what the market will do, and just trade what you see.

Would you take the setups with hindsight?

 

[virtuesoft]

Would you take the setups with hindsight?

I would have taken both setups in a good, trending market. I think that the BB is a justifiable skip because it wasn't clear that the market was trending at that stage and the 1.32 level could have caused an issue. The DD causes me more frustration. There was a clear trend, but I just didn't think it would continue.

 

[Giorrgi]

the first block was a dangerous / stupid trade since there were clearly big chunks of diagonal PA to be taken out if the target was to be reached.

The second setup was an RB (I think its the one both of you guys saw as well), it didn't however hit target because I entered a little too late and had to take a 4 pip profit (tipping point).

edit: forgot attachment

 

[Yorkshire Terrier]

Looking like a nice build up of presure or am i missing something.

 

[Yorkshire Terrier]

Price seems to be in a channel of upward pressure, am i wright in thinking this could be a bull flag patten??.
Surly this looks like a strong potential trade with the 00 above and no Resistance to the left.

 

[Yorkshire Terrier]

At last the price broke the range to form a ARB, i was not happy the way it first broke through as there was no where to place the T/P until a retest of the barrier.

 

[Traderallen]

my first trade of the day

 

[virtuesoft]

my first trade of the day

Nice DD trade! Well done. Good management of the trade too.

I was hoping that a DD setup would form at that location but it didn't form like that on my chart. It looks good on your chart though.

Don't be too disappointed about missing that RB. In my opinion it wasn't a valid break. The move prior to the break came from a false low and went straight to the top barrier. The tiny pullback prior to the break wasn't good enough buildup. I've attached a screenshot of my thoughts on the setup.