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vsa with Malcolm

  • #31,441
  • Dec 12, 2017 1:57pm Dec 12, 2017 1:57pm
Regarding the Sharpshooter technique: do you actually care whether the high volume bar is up or down? Pres said somewhere that he does not, and I must say I regularly see short opportunities after high volume down bars and vice versa.
  • #31,442
  • Dec 12, 2017 3:17pm Dec 12, 2017 3:17pm
Quoting Codaky
Regarding the Sharpshooter technique: do you actually care whether the high volume bar is up or down? Pres said somewhere that he does not, and I must say I regularly see short opportunities after high volume down bars and vice versa.
I will take shorts off UHV down bars and vise versa for longs... for me it's all about the PA after and how it takes out the H or the L of the bar and what the return to test looks like.

An UHV downbar can just as easily be sellers absorbing weak buyers before seeing lower prices as it can be a SOS with hidden SM buyers. That's why the PA after is key and why we need to look left.

If we see an old swing high to the left and the an UHV up bar that takes out that high and PA after is a return on lowering volume as they test for more willing weak sellers then a long off that up bar zone makes perfect sense.
Today's zone = Tomorrow's opportunity!
  • #31,443
  • Dec 12, 2017 10:31pm Dec 12, 2017 10:31pm
Quoting Darastonius
Odines is right. That's why I tried to explain in September, that if you try to do both Wyckoff and VSA, you'll get confused.
Darastonius,

As for the Wyckoff methods you've adopted, do you use stuff such as Automatic Rally, Breaking the Ice, Last Point of Supply...etc., which are not originally from Wyckoff but preached by people who taught Wyckoff courses, or do you use only the original Wyckoff methods like those introduced by David Weis in Trades About to Happen ?
  • #31,444
  • Dec 12, 2017 11:20pm Dec 12, 2017 11:20pm
Quoting Codaky
Regarding the Sharpshooter technique: do you actually care whether the high volume bar is up or down? Pres said somewhere that he does not, and I must say I regularly see short opportunities after high volume down bars and vice versa.

I think the simplest respnse to this is grade with the trend .

Lets say that the trend is down . We see a high volume down bar and next two or even five bars up or sideways with a no demand or upthrust we can continue to sell . However we must be aware that the high volume down bar maybe potential buying

there was a perfect example of this in gold yesterday that I will post shortly
Blogging daily now at www.volume.zone
  • #31,445
  • Dec 12, 2017 11:53pm Dec 12, 2017 11:53pm
Quoting malcolmb14
{quote} I think the simplest respnse to this is grade with the trend . Lets say that the trend is down . We see a high volume down bar and next two or even five bars up or sideways with a no demand or upthrust we can continue to sell . However we must be aware that the high volume down bar maybe potential buying there was a perfect example of this in gold yesterday that I will post shortly

I was training a friend in trading with vsa and this is a trade that actually came up as we sat down to have our coffee and we took :


The chart1 below is a 15 min chart.

The high of day is 1246 and the daily ATR(14) , average true range for a 14 day period for the daily chart is $12.

The trend was down on 60 min , 30 min and 15 min , meaning we look for sells until we near the daily range.

Based on a downward trend on all time frames, a high of day of $1246 and an ATR(14) of $12 we can expect potential target 1236 , however there is a major support level at 1237 , and as this is only $1 above the expected target this is where we will target for taking profit.

At 1:

We see an ultrahigh volume down bar and potential stopping volume .

The low of this bar was 1239 , a distance from expected days low of 1234, based on the high of day - the atr(14)

In order to see if the price will continue to drop we need to see reaction to this bar . For this we use the 5 min chart below.




Chart 2 is a 5 min chart

At 1:

We see an ultrahigh volume down bar. This is reflected in the 15 min chart shown above.

At 2:

We see an up bar with ultra-low volume. This is a no demand bar and a sign of weakness. The next bar is down and also ultra-low volume , which is a sign of strength , so we have to stalk the trade a bit more until we see more weakness.

At 3:

We see a high volume bar which tried to push higher but closed in its lows. This is an upthrust and a sign of weakness and confirms the no demand at 2.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gold 1.png Size: 55 KB
Click to Enlarge Name: gold 2.png Size: 80 KB
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  • #31,446
  • Dec 13, 2017 12:02am Dec 13, 2017 12:02am
FOR NEWBIES

In this thread there is a lot of complicated stuff .. VSA , whycoff, and some other things. There is tons of fancy jargon .. its all confusing and even confuses me.

DO NOT GET CONFUSED ITS SIMPLE REALLY IT IS.

1. Trade with the trend at all times (60,30,15 should align).
2. Look for SOS in uptrend and SOW in down trends
3. understand what the close of the bar relative to the high and low really mean ( for example an upthrust closing near its lows in a down trend is as sign of weakness and continuation of trend)
4. trade three or four patterns only ( no demands in a down trend , up thrust in a down trend, no supply in an up trend , or test in an uptrend) . These four trades sets ups will make you $$$$$ BUT YOU NEED PATIENCE for them to come.
Blogging daily now at www.volume.zone
  • #31,447
  • Dec 13, 2017 12:09am Dec 13, 2017 12:09am
SCANNER

So following on with the conversation of sharpshooter scanner and is the $200 a month worth it .. yes for me

Here is today's scanner, all 60 min charts grey meaning no real trend on higher time frames. So we wait for ideal trades , those with HIGH PROBABILITY THAT WILL MAKE $$$$$

NEWBIES

  1. Remember traders will NEVER admit their losses only show off with their wins.
  2. remember WE DO NOT HAVE TO BE IN THE MARKETS AT ALL TIMES
  3. Trading is a game of PATIENCE.


I have nothing to do with tradeguider .. just sharing my knowledge and experience.

Attached Image
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  • #31,448
  • Dec 13, 2017 12:17am Dec 13, 2017 12:17am
Based on scanner in last post .. what is the best trade to look for currently ...

GOLD

an entry on a 15 min ut gave entry 1242.5
Blogging daily now at www.volume.zone
  • #31,449
  • Dec 13, 2017 12:37am Dec 13, 2017 12:37am
Was lookin at some charts.. maybe its worth to keep an eye on UJ, at least to me its lookin bullish, however we have FOMC later so we may have a slow day till news came out..
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  • #31,450
  • Dec 13, 2017 12:58am Dec 13, 2017 12:58am
Quoting malcolmb14
{quote} I was training a friend in trading with vsa and this is a trade that actually came up as we sat down to have our coffee and we took : The chart1 below is a 15 min chart.
I will always remember you as my virtual mentor and hope to meet someday in Dubai when i will visit to clear off old debts .
Highly appreciate your contributory nature.
Holy Grail - Patience and Acceptance
  • #31,451
  • Dec 13, 2017 2:01am Dec 13, 2017 2:01am
Euro Longs in play boys!
Know yourself before fight with the market.
  • #31,452
  • Dec 13, 2017 2:04am Dec 13, 2017 2:04am
Quoting Autrader
Euro Longs in play boys!
there is an inside look at how the inside VSA looks like.
Attached Image (click to enlarge)
Click to Enlarge Name: Buy euro.png Size: 206 KB
Know yourself before fight with the market.
  • #31,453
  • Dec 13, 2017 2:06am Dec 13, 2017 2:06am
Quoting malcolmb14
In this thread there is a lot of complicated stuff .. VSA , whycoff, and some other things.
Are you opposed to others posting VZA charts?

Was bullish on EURUSD today because we are back down into the absorption bar from Dec 8th and today we were above yesterdays high volume bar. I took a long off a high volume M5 test and went BE at 1:1. Got stopped out, maybe euro will come back and test 1745 for another entry.
Attached Image (click to enlarge)
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  • #31,454
  • Dec 13, 2017 2:13am Dec 13, 2017 2:13am
Quoting Autrader
Euro Longs in play boys!
Be careful zero trend just chop chop
Blogging daily now at www.volume.zone
  • #31,455
  • Dec 13, 2017 2:16am Dec 13, 2017 2:16am
Quoting albern
{quote} Are you opposed to others posting VZA charts? Was bullish on EURUSD today because we are back down into the absorption bar from Dec 8th and today we were above yesterdays high volume bar. I took a long off a high volume M5 test and went BE at 1:1. Got stopped out, maybe euro will come back and test 1745 for another entry. {image}
Not at all ... it's all good

just explaining to newbies forget all those fancy terms ... even vsa , no demands no supply etc

just understand the close of bar relative to low and high and volume

agree on euro being a bit bullish after yesterday's down move
Blogging daily now at www.volume.zone
  • #31,456
  • Dec 13, 2017 2:16am Dec 13, 2017 2:16am
Quoting pooh123
{quote} Darastonius, As for the Wyckoff methods you've adopted, do you use stuff such as Automatic Rally, Breaking the Ice, Last Point of Supply...etc., which are not originally from Wyckoff but preached by people who taught Wyckoff courses, or do you use only the original Wyckoff methods like those introduced by David Weis in Trades About to Happen ?
No. I only use what Wyckoff himself taught. I only do the stuff what he explains in his books. Method of Tape Reading, Tape Reading and Active Trading, and Day Trader's Bible. Nothing more. I read Weis' book, not bad, but that is Weis' interpretation of Wyckoff's work.

The pattern you'll often find about the Wyckoff method, the Selling Climax-Automatic Rally-Secondary Test-Phase B-Testing or Shakeout-etc. is Bob Evans' interpretation, who took over the Stock Market Institute after Wyckoff died. If you go to the SMI page, it is still active but there is a lot of things added. Because every teacher there takes the basic principles and varies it to his interpretation.

My motivation was to copy Wyckoff's brain into mine, because I wanted to make money as soon as possible, I didn't have time to experiment with others ideas. (Unfortunately I still did for some extent at the beginning.) I stripped everything and stuck only to what he wrote. I read those 3 books about 15-20 times each. You don't need more than that 3, if you want to trade like Wyckoff did.

But sometimes I see people claiming they do pure Wyckoff, and then I see that they do this weird mixture between half VSA-half Wyckoff, and maybe some other stuff. It is okay, but you don't do pure Wyckoff, so don't claim it to look smarter.
Price and volume reveals everything. The market moves on supply and demand.
  • #31,457
  • Dec 13, 2017 2:18am Dec 13, 2017 2:18am
Quoting malcolmb14
{quote} Be careful zero trend just chop chop
Sure I scalp it.

In out fast
Know yourself before fight with the market.
  • #31,458
  • Dec 13, 2017 2:21am Dec 13, 2017 2:21am
so ...

trend trading on multi times frames just to show you all how effective it can be....

 

  1. gbp starting to move up ... all greens on 30 down my buy doing ok
  2. GER (Dax ) no trend alignment ...my buy doing horrible but as I am an impatient muppet i could not help but buy
  3. USDCAD no trade as no trend alignment
  4. GOLD sell doing well - trend 60 min down in alignment look for sell rallies.
  5. EURO .. no TA so chip chop and tough to trade ... stay out dogs breakfast.

Words of the famous HiddenGap.... trend is not your friend , it's your lover

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Click to Enlarge Name: gold.png Size: 31 KB
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Attached Image
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  • #31,459
  • Dec 13, 2017 2:32am Dec 13, 2017 2:32am
Quoting odines
Was lookin at some charts.. maybe its worth to keep an eye on UJ, at least to me its lookin bullish, however we have FOMC later so we may have a slow day till news came out.. {image}

I see what you are seing

113 .00 key support
Blogging daily now at www.volume.zone
  • #31,460
  • Dec 13, 2017 2:52am Dec 13, 2017 2:52am
Quoting Autrader
{quote} Sure I scalp it. In out fast
jump in again, with a super tight stop
Know yourself before fight with the market.
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