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vsa with Malcolm

  • #32,581
  • Feb 13, 2020 10:13pm Feb 13, 2020 10:13pm
Quoting HiddenGap
{quote} {image}
very useful your analisis learn vsa can you post normal volume base analisis
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  • #32,582
  • Edited 11:04pm Feb 13, 2020 10:45pm | Edited 11:04pm
Quoting attique08
{image}{image} with stop below the widespread downbar closing in middle and tp around yesterday's POC, i am long in eu. Any comments/review on my chart reading attempt is welcomed, please.
I can't say that I'm a fan of your trade.

A) Price found temporary support here on the close of the high volume bar.

B) This bar looks bearish with how it pushed through the close..

C) Price found resistance off the close. As of right now, the close is support turned into resistance.

D) This is a test, I would have wanted to see buyers step in here and push price above Bar C, proving that they were interested. But so far price has not been able to break above the close.

Also you've mentioned that euro has a bearish background. I can see how it's tempting to buy since the pair is very oversold, but also think that in order to stop this move the pair will need to go into an accumulation period which will only send the pair sideways. In my opinion an entry here would only tie up your margin.

Also I don't agree with the test bar you marked as a 3. The purpose of a test is to see if supply has dried up, if anything there is supply on this bar with given how much upper wick is on this bar.
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  • #32,583
  • Feb 13, 2020 10:59pm Feb 13, 2020 10:59pm
Bar A) Absorption bar with sellers stepping in. There is the high volume up bar on the previous day that told us AU was being sold. I didn't want to take a trade yesterday in the off chance that Bar A was indeed buyers, so I decided to wait and see if sellers would come and support price.

Bar B) As price tried to rally above the high of Bar A, we see more sellers come in.

Bar C) A test bar, with price pushing down though the test a few bars later. I see this as sellers supporting price.

Bar D) Two bar reversal back into the high volume bar from Feb 11th.
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  • #32,584
  • Feb 13, 2020 11:19pm Feb 13, 2020 11:19pm
Quoting Anotan
Bar A) Absorption bar with sellers stepping in. There is the high volume up bar on the previous day that told us AU was being sold. I didn't want to take a trade yesterday in the off chance that Bar A was indeed buyers, so I decided to wait and see if sellers would come and support price. Bar B) As price tried to rally above the high of Bar A, we see more sellers come in. Bar C) A test bar, with price pushing down though the test a few bars later. I see this as sellers supporting price. Bar D) Two bar reversal back into the high volume bar from...
whats ur tp
  • #32,585
  • Feb 13, 2020 11:51pm Feb 13, 2020 11:51pm
Quoting blaze1
{quote} whats ur tp
Maybe I'm wrong, but feels like you're looking for a trade call.. My fault for posting trades live.

I'll reevaluate the trade at .6665
  • #32,586
  • Feb 14, 2020 12:24am Feb 14, 2020 12:24am
Quoting Anotan
{quote} Maybe I'm wrong, but feels like you're looking for a trade call.. My fault for posting trades live. I'll reevaluate the trade at .6665
nope.. i entered long ago but not sure when to put my tp
  • #32,587
  • Feb 14, 2020 12:31am Feb 14, 2020 12:31am
Quoting blaze1
{quote} nope.. i entered long ago but not sure when to put my tp
Fair enough
  • #32,588
  • Feb 14, 2020 12:33am Feb 14, 2020 12:33am
I closed my short, for whatever reason this pair is find support off yesterday's high volume.
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  • #32,589
  • Feb 14, 2020 1:39am Feb 14, 2020 1:39am
Quoting Anotan
{quote} A) Price found temporary support here on the close of the high volume bar. B) This bar looks bearish with how it pushed through the close.. C) Price found resistance off the close. As of right now, the close is support turned into resistance. D) This is a test, I would have wanted to see buyers step in here and push price above Bar C, proving that they were interested. But so far price has not been able to break above the close. Also you've mentioned that euro has a bearish background.
instead of focusing close, i focused more on market response to low. your perspective combined with your expectation on unfolding bars help me reading the chart more clearly.

Quoting Anotan
{quote} I can see how it's tempting to buy since the pair is very oversold, but also think that in order to stop this move the pair will need to go into an accumulation period which will only send the pair sideways. In my opinion an entry here would only tie up your margin. }
instead of scanning i tried to find reason to go long. i see myself dominated by emotions after reading this. totally own my fault.

thank you very much for correction regarding test.
  • #32,590
  • Feb 14, 2020 4:32am Feb 14, 2020 4:32am
Quoting Anotan
I closed my short, for whatever reason this pair is find support off yesterday's high volume. {image}
Price tried to rally, there was a bullish up bar that should have been able to take out the close from the Feb 11th but the bar fell short. Entered in again off a failed test. 6 pip stop, low risk and we should see price fall off from here.
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  • #32,591
  • Feb 14, 2020 7:44pm Feb 14, 2020 7:44pm
I lost this trade. suggestions/piece of advice regarding coping up with such scenario is requested, please.

P.S. Looking at Anotan's charts, i liked that scheme and adjusted mine accordingly.
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  • #32,592
  • Feb 14, 2020 8:44pm Feb 14, 2020 8:44pm
Quoting HiddenGap
Happy New Year !!!! Volume Spread Analysis (VSA) 101 On Tests: The Market, like a woman, is always testing. This begs the question, "What exactly is the Market testing and why?". There are three types the Market tests, (1) Tests that are the result of the appearance of high volume, (2) Tests that the result of the absence of volume, and (3) Tests of price. A Test is defined as a narrow range DOWN interval that makes a lower low than the previous interval, closes on or near its high, with volume less than the previous two intervals. There are, of...
that's an excellent post to learn about tests. thank you.
  • #32,593
  • Feb 15, 2020 3:39am Feb 15, 2020 3:39am
Quoting attique08
I lost this trade. suggestions/piece of advice regarding coping up with such scenario is requested, please. P.S. Looking at Anotan's charts, i liked that scheme and adjusted mine accordingly. {image}
just my 2 cents
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  • #32,594
  • Feb 15, 2020 4:13am Feb 15, 2020 4:13am
Quoting attique08
I lost this trade. suggestions/piece of advice regarding coping up with such scenario is requested, please. P.S. Looking at Anotan's charts, i liked that scheme and adjusted mine accordingly. {image}
here is an example (a reversal) that worked, it didn't had strength in background
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  • #32,595
  • Feb 15, 2020 4:14am Feb 15, 2020 4:14am
Quoting attique08
I lost this trade. suggestions/piece of advice regarding coping up with such scenario is requested, please. P.S. Looking at Anotan's charts, i liked that scheme and adjusted mine accordingly. {image}
Tom Williams had always trend channel in his charts. That could be helpful.

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  • #32,596
  • Feb 15, 2020 7:13am Feb 15, 2020 7:13am
Quoting Blasterh22
{quote} just my 2 cents {image}
through your review i could extract the following points. correct me if i am wrong, please.

1. price went into range after barely touching the previous daily high. there was no weakness in daily timeframe or h4/h1 so there was no point in shorting pound. so, we should always wait to see that how price behaves while approaching or going across the daily high/low.
2. strong areas of buying are those where markets are marked up quickly and retracement into those areas with downbars closing in middle with increased volume shows that there is buying pressure (resistance to sellers). until there is no buying pressure, refrain from shorting that currency.

thank you for your time. i appreciate it.
  • #32,597
  • Edited 12:02pm Feb 15, 2020 8:05am | Edited 12:02pm
Quoting attique08
{quote} through your review i could extract the following points. correct me if i am wrong, please. 1. price went into range after barely touching the previous daily high. there was no weakness in daily timeframe or h4/h1 so there was no point in shorting pound. so, we should always wait to see that how price behaves while approaching or going across the daily high/low. 2. strong areas of buying are those where markets are marked up quickly and retracement into those areas with downbars closing in middle with increased volume shows that there is...
1. I was referring not to daily high but to a daily level, a swing if you like, see the screenshot. And yes there was no weakness, no point of shorting it, if you want to short it then you would like to see an upthrust (see the screenshot).
2. strong areas are areas from which price moved quickly and haven't been tested yet. A test weakens the area. And yes, before shortening something you should have no buying pressure or at least selling pressure, or both. You where trying to short into strong buys, that's why it didn't worked.

So, when approaching a level the idea to trade from it is good, that's why it is a level to hold the price, but, if the price barely touch it and retraces, this usually means it will break it. Also in order for the level to hold we should see the "attackers" losing their power and an increase in opposing power. Or if you don't see any of that you should wait for the price to break the level the go back strongly (spring/upthrust)
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  • #32,598
  • Feb 15, 2020 9:23am Feb 15, 2020 9:23am
The story about how sellers lost it.
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  • #32,599
  • Feb 15, 2020 11:35am Feb 15, 2020 11:35am
Quoting Blasterh22
{quote} a daily level, a swing.
Okay, i got it now.
Quoting Blasterh22
{quote} when approaching a level the idea to trade from it is good, that's why it is a level to hold the price, but, if the price barely touch it and retraces, this usually means it will break it. Also in order for the level to hold we should see the "attackers" losing their power and an increase in opposing power. Or if you don't see any of that you should wait for the price to break the level the go back strongly (spring/upthrust)
if i could comprehend it, you are saying:
if it's supply/demand zone we should see poor/no result from effort while price penetrating into that zone combined with or followed by falling volume in same direction as confirmation of exhaustion. after that we need to see sos/sow accordingly. - with your supporting example of oil, all i can say is "A picture is worth a thousand words.". thank you very much.
  • #32,600
  • Feb 15, 2020 11:47am Feb 15, 2020 11:47am
looking at example of GBP, as you said there is no weakness in background while market was coming down. after you have pointed out, i closely look into widespread bars. and most of those bars are downbar on high volume followed by upbar.

1. is it something you were pointing out that marked drifted downward without a climactic action (weakness)?
2. if we have widespread downbars with high volume followed by upbars a potential sos. if low of these widespread bars is broken and test fails doesn't it mean it is weakness?

please.
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