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vsa with Malcolm

  • #32,261
  • Sep 30, 2019 10:24pm Sep 30, 2019 10:24pm
Daily gbpusd had an upthrust yesterday on a Down tends on the daily .

look for sells below 1,2270 with targets 1,2080
Blogging daily now at www.volume.zone
  • #32,262
  • Oct 6, 2019 9:53am Oct 6, 2019 9:53am
Interesting shake out on weekly dow last week ...

If this week is up we may see an all time high dow very soon ...
Blogging daily now at www.volume.zone
  • #32,263
  • Oct 7, 2019 1:33am Oct 7, 2019 1:33am
Quoting malcolmb14
Interesting shake out on weekly dow last week ... If this week is up we may see an all time high dow very soon ...
I am thinking the same way here. SPX 3080-3100 is my target

https://www.forexfactory.com/showthread.php?t=952868
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #32,264
  • Oct 10, 2019 5:30am Oct 10, 2019 5:30am
Bump..
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  • #32,265
  • Edited 11:00am Oct 10, 2019 10:41am | Edited 11:00am
Hello traders,
I'm new to Wyckoff and VSA but not new to trading. I'm currently reading "The undeclared secrets that drive the stock market" by Tom Williams. I've already read "The three skills of top trading" by Hank Pruden and I think my next books will be "Master the markets" by Tom Williams and "Trades about to happen" by David Weis. Anyway my biggest problem at the moment is identifying accumulation and distribution phases, I mean, I can identify them but I can't decide whether it is one or another, is the trend about to continue or to reverse. What methods do you use for this? Or maybe you can recommend a book?
Thank you.

Here is an example, I've entered long after the shakeout, after the close of the up bar with big volume, but after a while seeing the price is not going anywhere I've decided that maybe this wasn't an accumulation after all, and I've closed the trade.
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  • #32,266
  • Oct 10, 2019 10:58am Oct 10, 2019 10:58am
Quoting Anotan
Bump.. {image}
You beat me to it.

Chart dump. Thread bump......

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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #32,267
  • Oct 10, 2019 11:23am Oct 10, 2019 11:23am
Quoting Blasterh22
Anyway my biggest problem at the moment is identifying accumulation and distribution phases, I mean, I can identify them but I can't decide whether it is one or another, is the trend about to continue or to reverse.....(Emphasis Supplied)
Welcome to the thread.

By definition, Accumulation would be followed by Higher prices (an up move) and Distribution would be followed by Lower prices (a down move).

Looks like you added to your post as I wrote this. I may have more to say once I look at the chart.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #32,268
  • Oct 10, 2019 11:46am Oct 10, 2019 11:46am
Quoting HiddenGap
{quote} Welcome to the thread. By definition, Accumulation would be followed by Higher prices (an up move) and Distribution would be followed by Lower prices (a down move). Looks like you added to your post as I wrote this. I may have more to say once I look at the chart.
Quoting malcolmb14
quote
Thank you!
If I may post some more charts on currency for discussion?
  • #32,269
  • Oct 10, 2019 5:59pm Oct 10, 2019 5:59pm
Quoting HiddenGap
{quote} I use Sierra Charts. All the indicators are there, none are custom made by me. Although, I may have tweaked the appearance to emulate TradeGuider..... Wide Range Bar (WRB) or Wide Range 7 (WR7) = largest range (High - Low) in the last 7 intervals.
Hi HiddenGap,
Do you use the setting of the last 7 intervals for calculating the WRB? Is that the same as the Wide Range 7 you mentioned. And if yes to the former, does that have anything to do with Toby Crabel?

I appreciate your response and participation in the trading world via FF.
Help Me Help You Help Us.
  • #32,270
  • Edited Oct 11, 2019 2:09am Oct 10, 2019 10:11pm | Edited Oct 11, 2019 2:09am
Quoting Blasterh22
Hello traders, I'm new to Wyckoff and VSA but not new to trading. I'm currently reading "The undeclared secrets that drive the stock market" by Tom Williams. I've already read "The three skills of top trading" by Hank Pruden and I think my next books will be "Master the markets" by Tom Williams and "Trades about to happen" by David Weis. Anyway my biggest problem at the moment is identifying accumulation and distribution phases, I mean, I can identify them but I can't decide whether it is one or another, is the trend about to continue or to reverse....
First I've never read The Undeclared Secrets, but on this thread a lot of people have said that it's basically the same book as Master the Markets.

I think you are asking the question about the difference between re-accumulation and distribution phases. I think I'm going to wait and see if HiddenGap answers your question. I think HG will do a much better job of explaining than I ever could.

Here's just a few thoughts though on your chart.

The first thing is the glaring Up Thrusts on the chart, it's not really an up thrust because it's in the wrong place. The pound is notorious for these fake up thrusts during accumulation phases which create areas to watch for reactions.

Immediately after the fake up thrust you can see the lows of it are being tested. Price does come off a little bit, I'm not sure if it's the herd selling the fake up thrust or if the professionals temporarily marketed price down to see if there are any sellers at the lows.

After price falls a bit, it returns and pushes through 1.2223 (which is the close of the immediate test), 1.2223 is tested several times and each time price fails to close below the level showing us that there are no more sellers and price is ready to move up.
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  • #32,271
  • Oct 10, 2019 10:42pm Oct 10, 2019 10:42pm
Quoting Rainmaker36
{quote} Hi HiddenGap, Do you use the setting of the last 7 intervals for calculating the WRB? Is that the same as the Wide Range 7 you mentioned. And if yes to the former, does that have anything to do with Toby Crabel? I appreciate your response and participation in the trading world via FF.
There are a couple of ways to calculate it.

(1) A WR7 bar can have a greater range than the last 6 bars; OR

(2) A WR7 bar can be the largest range in the last 7 (inclusive).

So if your look back is 7 intervals not including the WRB, you have a WR8, not WR7.

I believe Toby Crabel famously penned a book with Linda Raschke where they introduced the "power" of WR7s and NR4s & NR7s. I haven't read it though.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #32,272
  • Oct 11, 2019 2:18am Oct 11, 2019 2:18am
Quoting Anotan
Bump.. {image}
Just a follow up.. Interesting to see how price pushed up through the high of the high volume down bar from late in yesterday's US session and then came back down to test the close.
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  • #32,273
  • Oct 11, 2019 6:29am Oct 11, 2019 6:29am
Inserted Video
Blogging daily now at www.volume.zone
  • #32,274
  • Oct 11, 2019 7:04am Oct 11, 2019 7:04am
Quoting malcolmb14
https://youtu.be/DbOF9da8sUM
as i posted this the bottom dropped out of gold . i closed it at 1482 but it will probably go lower
Blogging daily now at www.volume.zone
  • #32,275
  • Oct 11, 2019 8:26am Oct 11, 2019 8:26am
Quoting Anotan
{quote} First I've never read The Undeclared Secrets, but on this thread a lot of people have said that it's basically the same book as Master the Markets. I think you are asking the question about the difference between re-accumulation and distribution phases. I think I'm going to wait and see if HiddenGap answers your question. I think HG will do a much better job of explaining than I ever could. Here's just a few thoughts though on your chart. The first thing is the glaring Up Thrusts on the chart, it's not really an up thrust because it's in...
Thank you for your answer.
Yes, I was asking about re-accumulation and distribution phases maybe I putted the question wrong way.
  • #32,276
  • Oct 11, 2019 8:47am Oct 11, 2019 8:47am
Anyone trading on small TF?
Here are 2 trades I took on m5 on GBPJPY
I've considered that price is in a re-accumulation phase, so I decided to take the trade on the brake of the range, maybe this was my mistake because I didn't waited for the breakout to happen so I've got stopped on the shakeout. The second trade was after the shakeout and the breakout from the range, seeing bullish volume building up I had enough confidence to get in. What to you think?
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  • #32,277
  • Oct 11, 2019 9:19am Oct 11, 2019 9:19am
Quoting Blasterh22
Anyone trading on small TF? Here are 2 trades I took on m5 on GBPJPY I've considered that price is in a re-accumulation phase, so I decided to take the trade on the brake of the range, maybe this was my mistake because I didn't waited for the breakout to happen so I've got stopped on the shakeout. The second trade was after the shakeout and the breakout from the range, seeing bullish volume building up I had enough confidence to get in. What to you think? {image}
I tend to watch H1 mainly, occasionally I'll drop down to M30/M15.

Its a good trade, I really like the wide spread up bar, nice absorption bar pushing through an old top to which later it was tested.
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  • #32,278
  • Oct 11, 2019 9:27am Oct 11, 2019 9:27am
EURJPY
here we have a breakout from accumulation phase on h1, so on I was expecting a continuation
we can see a small accumulation on m5, I've got in after I saw the price reacting off of 200ema, 2 bullish candles with a small increase in volume, this was suggesting me about the buys coming in. I've closed the trade on a possible upthrust.
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  • #32,279
  • Oct 11, 2019 9:32am Oct 11, 2019 9:32am
Quoting Anotan
{quote} I tend to watch H1 mainly, occasionally I'll drop down to M30/M15. Its a good trade, I really like the wide spread up bar, nice absorption bar pushing through an old top to which later it was tested. {image}
I didn't noticed it the first time, I was concentrated more on the entry, thanks!
  • #32,280
  • Oct 11, 2019 9:43am Oct 11, 2019 9:43am
GBPUSD
same as GJ I posted earlier, same structure, same entry, same story, only difference is are the exits, on GJ I had a fixed target but on GU I got out on a potential upthrust.
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