vsa with Malcolm

Quoting malcolmb14

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I have nothing for Monday's trading as due to the moves Friday I am waiting to see reaction potential is there for gold to test 1300 gbp on four hour looks like a massive accumulation cycle since 14 august , a break above fridays high puts us back into 1.3000 next week but let's play her day by day and see reaction to fridays move Dax is just being Dax and anything can happen at any time . we have support 12150 , 12070 and resistance above us 12250 . It's very congested but tradeable still

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Quoting malcolmb14

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{quote} here you go ,,,, {image} {image}

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Quoting bluesoul

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{quote} your idea of watching OR is wonderful before opening any trade to analyze day's behaviors. I follow that. DAX high volume tests of 61% and 50% Fib levels. nice strength bars. what do you think about 12300 {image}

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Quoting cdb07d

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{quote} Hey Malc thanks for the helpful analysis! Couple Q's if you dont mind. When you say take OR breakout to upside would you wait for it to come back and test top of range to go long? Or trade the break itself w/ stop. Also please forgive my ignorance but can you explain when trend is in alignment to the point where you would be ok to jump in? Like do you wait for 1 hr and below to be same direction before looking for the entry. Sorry if question is dumb but I have been waiting for alignment and last week seem like right when I get i
andenter...

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Quoting bluesoul

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Is this smart money heavily buying? EU an EJ Daily charts. {image}

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Quoting malcolmb14

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{quote} Euro I have been talking about accumulation for weeks ... I lost sight of that last week what we need to see now for continuation is a test on the daily ( low volume down bar ) but let's not overthink it and trade each day as she comes I am a day trader and I think posting charts here predicting moves has made me a little bias at times .... so i I stepped back and thought .. how did I miss euro move ! .. why is easy . Bias . If I traded my simple rules and did not think I would have made some nice green on euro in Friday ( not that I trade...

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Quoting malcolmb14

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Quiet market today .... London closed watch gold for move up to 1300 in us session ... potential is there

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Quoting pres78

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Gold appears to have run out of steam just below 1300. 1299.47 on my broker. See if the buyers absorb or if they retreat to reload lower down.

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Quoting jamielee

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{quote} Hi Malc, Would you be able to post a chart of how you read the background?

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Quoting malcolmb14

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{quote} Will do .. I am a bit tired today from a busy trading day .. Dax ride me all over the place today .. wild ride lol

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Quoting malcolmb14

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With the North Korea missile test overnight markets have been rattled Es has dropped 20 points gold now at 1320 and may hit 1350 today here is chart gbpusd .. markets drop usd is safe haven we see selling yesterday 1.2920. i will be looking for sells below this for move back into 1.2850 {image}

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Quoting malcolmb14

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Anything is possible the probability of gold going to 1350 today are slim ... 1330 very high . what I want to see is a test of yesterday's highs at 1310 and reaction to it I think the reaction to the missile test is a knee jerk reaction ... but may provide some good trading

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