This is a discussion on Bob Volman Price Action Scalping within the Forex forums, part of the Markets category; Hi Guys, I'm starting a new thread here to post trades using the method of Bob Volman. Bob Volman Price Action Scalping. Community Links Members List. Bob Volman Price Action Scalping This is a discussion on Bob Volman Price Action Scalping within the Forex forums, part of the Markets category; Hi Guys, I'm starting a new thread here to post trades using the method of Bob Volman.
Jul 9, , 4: Hi Guys, I'm starting a new thread here to post trades using the method of Bob Volman. Please feel free to post, it'd be nice to get a few traders together posting on this method. The following members like this post: If anyone is interested in learning more about this method, you can find some notes here I did not write these. You can also find some excerpts of Volman's book here.
Jul 9, , 5: Jul 9, , 6: I did not take this trade, but to get the posts started here's a range break trade from today. Times in chart are GMT.
Learning To Trade Like Bob Volman
No trades for me today but there were some skipped ones. The chart starts off with a slight downtrend, after which bulls enter 4 pip above the 80 level. After a false break of the 20EMA, the bulls manage to bring prices within 3 pip of the 1. They try three times to attack the 00 zone 1,2,3 , but they fail. We can draw a line with this three tops but we don't have much of bottom barrier yet. After that triple top, the bears start to flex their muscles.
The bring prices down the 80 level, taking out earlier support.
Bob Volman Price Action Scalping
The bulls aren't done yet and they serve the bears a false break 4. The bears keep shorting at lower and lower levels while the bulls buy at the same level of support 5 and 6.
Something's got to give. Either the bulls realize they are losing of the bears get cold feet and fail at break the bottom barrier.
I was rather surprised when the bulls managed to get themselves out of that squeeze. I was ready to trade the break of the bottom barrier. But after the bulls managed to escape the grip of the bears, I quickly switched to a neutral view. I wasn't sure who was winning, so by the time this setup formed I chose to skip it.
If this range had formed anywhere else I probably would have taken these trades. I skipped this perfectly good range break because I find trading right under a 00 level to be tricky. I been burned a few times before. Judging by the slow price action earlier, I didn't think the bulls would be able to break the 00 level successfully.
The bookForex Price Action Scalping by Bob Volman - Beginner Questions - edegawiwajy.web.fc2.com Forex Trading Forum
Jul 9, , 7: I personally like your commentary separate to the charts as you write a bit like Bob which is great and it may get cluttered if you put it all on a chart. Last edited by Kalp; Jul 9, at 7: Jul 11, , 2: This Second Break setup just didn't work out. Prices stalled under the 20EMA perfectly. The only thing to worry about was possible support at the 60 area but since it was not visible on the chart I chose to ignore it. This BB setup was nice but since it was a countertrend trade I chose to skip it.
I could not see any convincing clues in the chart that suggested the trend was reversing no clear reversal patterns. This SB setup itself if fine but the conditions seem unfavorable to me. The unfavorable part of this trade was visible chart support green line. My concerns were reinforced when prices broke through the green line and immediately pulled back, leading me to skip S3 as well a DD setup.
There's not much to make of this price action until a second bottom formed 4. This is a very noticeable double bottom; things are getting interesting. I immediately start looking for counter trend opportunities after that false break F. If prices can stay around the 80 level and slowly make a squeeze we'll have a good countertrend RB setup.
Things didn't work out that way but I was still looking for a long trade even after prices started to move away from the 80 level. I started to get distracted because prices weren't going my way; I was bored. I did not notice that the bulls failed to testing the 80 level to the pip 5 and I did not notice this IRB setup form.
Who is Bob Volman. Forex Price Action Scalping by Bob Volman | Popular edition Currency Trading
Given the failure of the bulls to keep the pressure up on the bears, I think taking this break was the right thing to do, despite that prominent double bottom we have the trend on our side. I think this example illustrates one of Volman's points very well; we should not expect anything from the market.
All expectations do is cloud your judgment and blind you to other possibilities.
We should keep an open mind while trading because anything can happen. One thing that I'd like to make a note of is that I do not always elaborate this much while I am trading, though I am trying. Most of my analysis is done in hindsight, which reflects my boredom and distraction from the market at the time of trading bad!
I think trying to create a narrative of current and overall price action helps keep me focused and helps me see the entire picture more clearly.
What sometimes may look like aimless price action will actually have a lot of helpful clues in terms of possible direction if I just take to time to look for them. Jul 11, , 8: Thread Tools Show Printable Version. Search this Thread Advanced Search.
LinkBack LinkBack URL About LinkBacks. Notices Join T2W today and enjoy a great package of benefits Page 1 of Bob Volman Price Action Scalping If anyone is interested in learning more about this method, you can find some notes here I did not write these.
Bob Volman Price Action Scalping Thanks for adding the links BLS. Bob Volman Price Action Scalping I did not take this trade, but to get the posts started here's a range break trade from today. Times in chart are GMT Attached Thumbnails. Bob Volman Price Action Scalping No trades for me today but there were some skipped ones.
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