allow me to butt in here as I think it is important.
As I have explained in a previous post I feel too many here try to learn charting alone. Nothing wrong with that, but I can see where there could be a problem with your chart, even before it is analysed.
SXY is an oil stock. It is driven by the oil price amongst, of course, it's own fundalmentals. But the oil price is the big driver.
So an analysis of that chart would be futile, unless you first analysed the oil price. Jako would need to do an analysis of WTI Crude to trade that chart.
The other big problem with that chart is that the oil price is volatile at the moment as it's trying to find a bottom. This happens overnight while SXY is not trading.......so you run the risk of being shaken out of SXY, no matter how well you analyse that chart. Nothing will save you.
Bottom line...........I just don't know how VSA will work with that chart, or, in fact any other chart driven by overseas activity and markets.
You need to know these things before you become successful. There is just so much more than charting alone.
Study this link below and you will see the corelation of SXY to the Energy index and you will see what I mean.
