Bob Volman Price Action Scalping

This is a discussion on Bob Volman Price Action Scalping within the Forex forums, part of the Markets category; Originally Posted by BLS I think it's something worth experimenting on but only with conditions like this (strong trend move). ...

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Old Dec 6, 2012, 7:08pm   #1396
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Re: Bob Volman Price Action Scalping

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Originally Posted by BLS View Post
I think it's something worth experimenting on but only with conditions like this (strong trend move). I was watching the same thing but I missed the break because I had to be away from my screen.

There was lots of movement today but I wasn't ready to take advantage of it. I was watching an ARB but decided to skip it because I didn't like the entry. After seeing the market move down further I decided it was best for me to just watch the market for psychological reasons. I was angry at myself for skipping the ARB (S1) and missing a good move. That would have likely led me to take impulsive trades to try to make up for it. I didn't want to relapse into my old problem patterns.
Me too, I had a trade in on the NZD/USD 5m chart that took awhile and kept me out of some scalps. It turned out ok, but I skipped the flags on the EUR/USD because I didn't want to get into 2 trades at once. I probably would've tried it if I had been able to move my stop up on the NZD trade first.
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Old Dec 6, 2012, 7:21pm   #1397
 
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Re: Bob Volman Price Action Scalping

Thanks for the posts. Agree that at least we had some movement today that one could work with. The angular break is an interesting one and probably worthwhile to keep at the back of one's head.

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Old Dec 7, 2012, 3:40pm   #1398
 
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Re: Bob Volman Price Action Scalping

I took these two FB setups following the positive US jobs data.

The first was in EURJPY. It was a good trade and I exited with a profit of 13.9 pips.

The second was in EURUSD. It was quite a poor setup but I took it anyway. I got lucky and I exited with a profit of 8.5 pips. In my defense, I only had a second to analyse the EURUSD setup and I had to make a quick decision. If I hadn't taken the EURJPY FB setup, I would have been focusing on EURUSD and I never would have taken it.
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Old Dec 7, 2012, 4:53pm   #1399
 
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Re: Bob Volman Price Action Scalping

My chart with notes.
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1.png  
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Why not relieve ourselves from the fruitless task of prediction and let probability do the thinking.
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Old Dec 7, 2012, 5:43pm   #1400
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Re: Bob Volman Price Action Scalping

I couldn't really focus much after saw that big pop in the EUR/JPY when the jobs numbers came out. I'm not comfortable trading around news releases but it did bother me that I missed out. I should've recognized that but I didn't at the time. I ended up taking some stupid trades on the EUR/JPY and that shook me up a bit. I think I'm starting to like the slower price that we've seen these past few weeks =P.
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Old Dec 9, 2012, 5:42pm   #1401
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Re: Bob Volman Price Action Scalping

More charts from Bob
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File Type: zip week49.zip (1.74 MB, 86 views)
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Old Dec 9, 2012, 6:13pm   #1402
 
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Re: Bob Volman Price Action Scalping

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More charts from Bob
Thanks BLS & BOB
Always look forward to viewing Bobs weekly charts.
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Old Dec 9, 2012, 6:18pm   #1403
 
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Re: Bob Volman Price Action Scalping

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Originally Posted by BLS View Post
More charts from Bob
Thank you very much Bob and BLS, I'm grateful for the charts :-)
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Why not relieve ourselves from the fruitless task of prediction and let probability do the thinking.
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Old Dec 9, 2012, 8:00pm   #1404
 
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Re: Bob Volman Price Action Scalping

I would like to add my thanks to BLS and Bob.
I really and honestly appreciate Bob's charts as a learning and educational tool. It gives me great pleasure to see that I did recognize some setups the same as Bob. But even more so, is to see the potential that could be had once I become proficient with applying this strategy.
Successful I will become!
Regards
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Old Dec 10, 2012, 11:48pm   #1405
 
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Re: Bob Volman Price Action Scalping

Hello,

so nobody posted any charts today ?

I personally didn't take any trades. I hanged around for 3 range breaks and none of them fit the criteria, each lacking a squeeze.

The first attachment shows the only break that reached target, but again, the squeeze wasn't sufficient to take the trade.

Any thoughts ? Anyone took any of these ?
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day-1-bad-break-0.jpg   day-1-bad-break-1.jpg   day-1-bad-break-2.jpg  

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Old Dec 11, 2012, 12:25am   #1406
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Re: Bob Volman Price Action Scalping

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Originally Posted by Giorrgi View Post
Hello,

so nobody posted any charts today ?

I personally didn't take any trades. I hanged around for 3 range breaks and none of them fit the criteria, each lacking a squeeze.

The first attachment shows the only break that reached target, but again, the squeeze wasn't sufficient to take the trade.

Any thoughts ? Anyone took any of these ?
[1 on chart] I'm conflicted about the first one. You can sort of see a reverse head and shoulders ( a rejection of the new low/80 area) and there's not much blocky price action overhead but as you mentioned that entry wasn't the best, at least in a non-trending situation. I think it's tradable though but I try to be more careful around the 00 levels. I'd probably skip it because I'm not sure of it.

[2 on chart] The bulls are slowly getting the upper hand for the second one but that was definitely not a good entry.

[3 on chart] Didn't quite start my session yet in time to see the third setup. In hindsight the entry wasn't bad because we have a ceiling test of last resistance before the break of the barrier. I'd be worried about possible resistance around the 20 given the slow price action but since there's no visible chart resistance (except for that 20 touch ~2 hours earlier) this would be tradable.

I didn't take any trades. I didn't post my charts because price was confined between the 20 and 40 levels for most of my session but I guess I'll post them now.
Attached Thumbnails
usd-spot1.png   usd-spot2.png   usd-spot3.png  

untitled-picture.png   untitled-picture1.png   untitled-picture2.png  

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Old Dec 11, 2012, 1:02am   #1407
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Re: Bob Volman Price Action Scalping

I didn't take any scalps either, but I was watching. Seemed like a slow day, almost everything was a doji.
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Old Dec 11, 2012, 1:10am   #1408
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Re: Bob Volman Price Action Scalping

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I didn't take any scalps either, but I was watching. Seemed like a slow day, almost everything was a doji.
You guys honestly have the patience of Moses, aren't you ever tempted to reverse into key levels or is this a way of pure discipline? You're better men than me.

1.2918 respected twice after London, could have bought 1.289 for 10 even if it broke with one nervous strong bear bar, 1.2942 respected THREE times, then a picture perfect bull flag and continuation. Traded in that 'old fashioned' way... it was an easy day... seeking these perfect entries must be an absolute killer on your nerves.
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Old Dec 11, 2012, 1:16am   #1409
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Re: Bob Volman Price Action Scalping

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You guys honestly have the patience of Moses, aren't you ever tempted to reverse into key levels or is this a way of pure discipline? You're better men than me.

1.2918 respected twice after London, could have bought 1.289 for 10 even if it broke with one nervous strong bear bar, 1.2942 respected THREE times, then a picture perfect bull flag and continuation. Traded in that 'old fashioned' way... it was an easy day... seeking these perfect entries must be an absolute killer on your nerves.
Well, I also started trading the 5m chart (Brooks method) on several pairs mainly because the US session has become so slow lately. I usually still see at least one good Volman setup in a day, but several times a week lately it seems like the European session moves well and it starts to stall when the US session starts. Will probably change again in a few months.
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Old Dec 11, 2012, 2:15am   #1410
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Re: Bob Volman Price Action Scalping

Quote:
Originally Posted by random12345 View Post
You guys honestly have the patience of Moses, aren't you ever tempted to reverse into key levels or is this a way of pure discipline? You're better men than me.

1.2918 respected twice after London, could have bought 1.289 for 10 even if it broke with one nervous strong bear bar, 1.2942 respected THREE times, then a picture perfect bull flag and continuation. Traded in that 'old fashioned' way... it was an easy day... seeking these perfect entries must be an absolute killer on your nerves.
Tempted, yes, but the psychological damage from losing when I break my rules or deviate from the method would be more for me than it would be for you since I'm still rather new to trading. If I had won it would probably make me overconfident and more likely to break my rules. I think it's better for me psychologically to stay disciplined.
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