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vsa with Malcolm

  • #31,241
  • Nov 27, 2017 9:07am Nov 27, 2017 9:07am
my short on gold right now
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  • #31,242
  • Nov 27, 2017 2:00pm Nov 27, 2017 2:00pm
The cable guy just left my house, so this post is no longer the real-time call it was going to be.

SHARP SHOOTER

I still feel like it's worth posting, even thought it is after the fact. Remember, the sharp shooter rules don't change. They are already known. The rules were not changed to fit the chart. In other words, if it is there now, it was there then.....

Take a look at the chart below.

The first thing we see is a Ultra High volume up bar. It's the highest volume up to that time (and beyond). As the highest volume bar, this is the interval that will establish our trigger line. VSA tells us that markets do not like high volume up bars. VSA also tells us that when weakness appears, it usually appears on up bars. So from a VSA perspective, this bar is most likely weakness, and we should be putting a trigger line at the low of the bar.

Price does begin to retreat and even trades below the low of the Ultra High Volume bar. But note that Chart Mode I is still green and price is above the Cycle of Time Line. Price drifts up and makes a new high on a high volume bar.

Then we see a Level 3 Selling Aggression bar, which in VSA terms, would be either a Trap up Move or a Gotcha Bar. 2 bars later, price closes below the trigger number (the low of the Ultra High Volume bar). As this bar is also a level 3 Buying Aggression bar, and we would therefore expect the low to hold, we have all the more reason to see the trigger number as the "line in the sand".

2 intervals later, we get an Up Thrust like bar. We note that both Chart Modes I and II are now red and price is below the Cycle of Time Line. This is our first Sharp Shooter entry, and is marked as Entry #1 on the chart. 3 bars later, we see a narrow range up bar on volume less than the previous two bars-No Demand. This is the less aggressive second entry, marked as Entry #2 on the chart. I would not be waiting for the No Demand to confirm with the next bar down. Instead, I would place an order to enter just below the low of the No Demand bar. So the interval after the No Demand is the interval that brings me into the market. So would wait for confirmation and enter on the close of this interval.

My stop for Entry #2 would be above the trigger line. This is resistance becoming support. Plus, the low of the level 3 Selling Aggression bar, with follow through or acceptance below, should act as resistance as well. As soon as the next Selling Aggression bar appears, which is on the very next interval, I would move my stop to a few pips above its high.
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #31,243
  • Nov 27, 2017 4:46pm Nov 27, 2017 4:46pm
I am actually in the same trade as HiddenGap. And for the same reasons as well I have entered twice (blue lines). The red line is the current SL (for both trades). Trade 1 is thus safe, trade 2 is... well, let's see what Asia brings us. I am going to regret this, Asia never brings me anything good.
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  • #31,244
  • Nov 27, 2017 5:22pm Nov 27, 2017 5:22pm
Quoting Codaky
I am actually in the same trade as HiddenGap. And for the same reasons as well I have entered twice (blue lines). The red line is the current SL (for both trades). Trade 1 is thus safe, trade 2 is... well, let's see what Asia brings us. I am going to regret this, Asia never brings me anything good. {image}

Why play with luck instead of taking money of the table?
Know yourself before fight with the market.
  • #31,245
  • Nov 27, 2017 8:12pm Nov 27, 2017 8:12pm
Quoting HiddenGap
... As soon as the next Selling Aggression bar appears, which is on the very next interval, I would move my stop to a few pips above its high. {image}
HiddenGap,

Brilliant as always. Just a question. You used a term Level 3 buying/selling aggression bar. How do you define/determine Level 1, 2, 3 ?
  • #31,246
  • Nov 27, 2017 9:17pm Nov 27, 2017 9:17pm
Shorting GC, GOLD.
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Know yourself before fight with the market.
  • #31,247
  • Nov 27, 2017 10:17pm Nov 27, 2017 10:17pm
Quoting Autrader
Shorting GC, GOLD. {image}
out + 10 ticks
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Know yourself before fight with the market.
  • #31,248
  • Nov 27, 2017 10:55pm Nov 27, 2017 10:55pm
Quoting Autrader
{quote} out + 10 ticks {image}
that's the reason why I rather scalp few pips than hold my trades.

Price came down with high vol, too many sellers then retrace back..
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Know yourself before fight with the market.
  • #31,249
  • Nov 27, 2017 11:08pm Nov 27, 2017 11:08pm
Longs on AUD

picture should explain it self
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Know yourself before fight with the market.
  • #31,250
  • Nov 28, 2017 3:44am Nov 28, 2017 3:44am
Quoting Autrader
{quote} Why play with luck instead of taking money of the table?
It seems you were right. Although it was not Asia that kicked me out, but London Open.
  • #31,251
  • Nov 28, 2017 3:50am Nov 28, 2017 3:50am
Quoting Codaky
{quote} It seems you were right. Although it was not Asia that kicked me out, but London Open.
Mate Is the market, not me hehe.
Know yourself before fight with the market.
  • #31,252
  • Nov 28, 2017 10:38am Nov 28, 2017 10:38am
This is actually quite frustrating. I entered after the high-volume zone was left to the downside. Right after that price started to whipsaw. I eventually moved my stop above the ND. When price started to move again, it made sure to take out my stop right before going straight to target.
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  • #31,253
  • Nov 28, 2017 11:23am Nov 28, 2017 11:23am
my trade on crude oil
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  • #31,254
  • Nov 28, 2017 11:32am Nov 28, 2017 11:32am
Quoting Codaky
This is actually quite frustrating. I entered after the high-volume zone was left to the downside. Right after that price started to whipsaw. I eventually moved my stop above the ND. When price started to move again, it made sure to take out my stop right before going straight to target. {image}
develop some money management rules and follow them, I personally move my stop to BE only after I hit 1:1 R.R, otherside I let the trade run to stop loss or to my take profit. Ill close my trade only if there is something clear that indicates that the trade is no longer going very well anymore
  • #31,255
  • Nov 28, 2017 12:19pm Nov 28, 2017 12:19pm
Quoting odines
{quote} develop some money management rules and follow them, I personally move my stop to BE only after I hit 1:1 R.R, otherside I let the trade run to stop loss or to my take profit. Ill close my trade only if there is something clear that indicates that the trade is no longer going very well anymore
That's what I usually do, as well. But when price whipsaws like that, I tend to get nervous
  • #31,256
  • Nov 28, 2017 12:36pm Nov 28, 2017 12:36pm
Quoting Codaky
{quote} That's what I usually do, as well. But when price whipsaws like that, I tend to get nervous
I know EXACTLY how you feel heh, today for example I entered long on ftse at 7398 and 7403, closed both very earlier with almost no profit, my take profit was 7460 so if I had followed my own rules I should have made a great trade lol, unfortunately this is happening very often so today I decided to place a Break Even EA to let emotions out the game..
  • #31,257
  • Nov 28, 2017 2:16pm Nov 28, 2017 2:16pm
With what we witnessed today on the POUND, you can notice that to prices to go up doesn't need to accumulate for a long time before take off. That is why many traders fail because we are unable to read the present and instead we are looking many bars before * PAST*.

Not all high volume at all in the chart, but the position of the trades was the clue.

BE AWARE TRADERS
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Know yourself before fight with the market.
  • #31,258
  • Nov 28, 2017 2:41pm Nov 28, 2017 2:41pm
Quoting Autrader
With what we witnessed today on the POUND, you can notice that to prices to go up doesn't need to accumulate for a long time before take off. That is why many traders fail because we are unable to read the present and instead we are looking many bars before * PAST*. Not all high volume at all in the chart, but the position of the trades was the clue. BE AWARE TRADERS {image}

Real-time example ppl.

GC, GOLD, XAUUSD.

there is a move down, then we got a NO DEMAND BAR.

but selling it without seeing what is inside is like driving blind.

So in order to short it, we want to see sellers hitting it, or trapped buyers to confirm our move. Then take the shot.


With VSA and your knowledge about Market Structure and actually watching whats inside you will work on what you see, and not what you think.

I hope it makes clear my point. Good Luck everyone
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Know yourself before fight with the market.
  • #31,259
  • Nov 28, 2017 11:17pm Nov 28, 2017 11:17pm
Quoting Autrader
With what we witnessed today on the POUND, you can notice that to prices to go up doesn't need to accumulate for a long time before take off. That is why many traders fail because we are unable to read the present and instead we are looking many bars before * PAST*. Not all high volume at all in the chart, but the position of the trades was the clue. BE AWARE TRADERS {image}
Usually a spike out of the blue like that is good candidate for a fading play. But not this one. On the daily chart it looks like a big shakeout.
  • #31,260
  • Nov 29, 2017 5:26am Nov 29, 2017 5:26am
Quoting Autrader
{quote} that's the reason why I rather scalp few pips than hold my trades. Price came down with high vol, too many sellers then retrace back.. {image}
hum but how do you manage your risk vs reward ratio? lookin at your trades I see you prefer to scalp for like 1-2 pips per trade

The biggest problem I see in scalping actually is that when you lose you end up losing as much or more than you did in the winning trades, thats why I prefer to let trades run..
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