VSA 101 - Weakness or strengths? Trade or no trade?

For readers who want to use VSA as part of your potential setup. I will be sharing with you how I determine if a counter is trade worthy is not. Usually, I will have some important guidelines that I adhere to. 

Below is a chart on Swiber? What do you think of its current chart?

Swiber

A counter that you should be wary if you want to go long

A list of checklist that one might want to use if he/she wants to use VSA/wyckoff as setup.

1)Current market sentiments : Bullish
2)Background : Bullish. Double bottom observed in the background.
What to expect in the future? Overcoming the last bar will be key.
3)Last 3 bars : Strong buying volume closing at high, low volume selling at down bar.
4Last bar: Slight weakness. High volume but low up wide range bar. Indicating effort met with selling pressure to go long.
5) Bonus points for having beta : Sakari/Geo energy/Midas/Aus Group kind of stocks.


Ideally, when conflicting signal arises, you might want to avoid this trade at all costs. As you do not have any clear indication of where the market is heading to.

Be it Swiber go up or down in the near future, or will I go long or short in the future, I will rather wait for confirmation on the next bar.

Below is another chart of NOL. I have purposely cut out the last 2 bars of its current chart for education purpose.

Read from picture.

NOL

I usually see countless of charts everyday, before during and after trading hours. Up to probably 100 charts. While it (VSA) has become some kind of second nature to me, it is still very tough to maintain the same quality of sharpness to scrutinize every chart. I do miss out certain good signals sometimes. Wang and I will usually share the trading ideas.. But the idea is still the same, we rather be patient than be sorry. The market is ruthless. Money is at stake. I'm a strong advocate of good risk management.