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vsa with Malcolm

  • #32,661
  • Feb 19, 2020 3:40am Feb 19, 2020 3:40am
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  • #32,662
  • Feb 19, 2020 4:14am Feb 19, 2020 4:14am
getting closer, all time high, what happens then if it breaks?

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  • #32,663
  • Feb 19, 2020 4:19am Feb 19, 2020 4:19am
Quoting juhanimi
getting closer, all time high, what happens then? {image}
A few variants, but overall there were strong sells from this area, we should expect strong sells also, an upthrust would be perfect, I'm planning to short it.
  • #32,664
  • Feb 19, 2020 4:28am Feb 19, 2020 4:28am
We`ll see, here is Monthly

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  • #32,665
  • Feb 19, 2020 4:50am Feb 19, 2020 4:50am
Quoting juhanimi
We`ll see, here is Monthly {image}
monthly is clearly up, but showing screens without comments doesn't really help anyone
  • #32,666
  • Feb 19, 2020 5:09am Feb 19, 2020 5:09am
this looks interesting, it might be a spring, should wait for bar close.
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  • #32,667
  • Feb 19, 2020 5:38am Feb 19, 2020 5:38am
Quoting Blasterh22
{quote} monthly is clearly up, but showing screens without comments doesn't really help anyone
I do not trust volumes in Monthly charts, was just showing how far all time high is, but if you trust Monthly volumes, we could see bullish volume followed by No Supply/No Selling Pressure and after that it is going up.
Other charts with trend channels, I thought it was obvious because, this is VSA, from the book:
"A trader who uses our VSA principles will analyse price action in the top and bottom quarters of the trading range, because important observations take place in these areas as the price heads for supply or support lines respectively.
The area above the supply (higher) trend line is known as overbought and the area below the support (lower) trend line is referred to as oversold."

Every one can make own analysis, like USDCAD H1 today, you were selling at the lower trend line, so I was just showing to you that be careful now.
  • #32,668
  • Feb 19, 2020 5:47am Feb 19, 2020 5:47am
Quoting juhanimi
{quote} I do not trust volumes in Monthly charts, was just showing how far all time high is, but if you trust Monthly volumes, we could see bullish volume followed by No Supply/No Selling Pressure and after that it is going up. Other charts with trend channels, I thought it was obvious because, this is VSA, from the book: "A trader who uses our VSA principles will analyse price action in the top and bottom quarters of the trading range, because important observations take place in these areas as the price heads for supply or support lines respectively....
I sold at the top of it, actually added to my position
  • #32,669
  • Feb 19, 2020 6:08am Feb 19, 2020 6:08am
Quoting Blasterh22
{quote} I sold at the top of it, actually added to my position
good for you, hopefully it will breakdown
  • #32,670
  • Feb 19, 2020 7:41am Feb 19, 2020 7:41am
I decided to take a look at dollar index today and what do I see, price is at the top of the range and increased volume. Volume is not climatic, but it's noticeable increased beside previous bars, first sign of a potential reversal.
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  • #32,671
  • Feb 19, 2020 7:41am Feb 19, 2020 7:41am
Quoting Anotan
This trade was hard to take with how over sold EURCAD is, but price is still clearly reacting bearishly. {image}
Normally I would let both positions run, but today is FOMC which can be volatile. (Honestly though the last couple of months the market hasn't even flinched on FOMC Wednesday)

I closed out the 2nd position on EUR/CAD for +56 and we will leave the first position open and see if it can hit 1.42.. If it hits 1.42 it will be an easy +190 pips. if it hits my stop then +20 pips.

AUD/USD I'm leaving my 3 positions open, AUD is as good as .6600.. 3 positions will run +330 pips combined, not bad compared to the -6 pips I lost trying to establish a position.

I think I'm going to take off Thursday and Friday from trading.
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  • #32,672
  • Feb 19, 2020 9:19am Feb 19, 2020 9:19am
Quoting Blasterh22
I decided to take a look at dollar index today and what do I see, price is at the top of the range and increased volume. Volume is not climatic, but it's noticeable increased beside previous bars, first sign of a potential reversal. {image}
cool, on the other hand dollar does not look weak anywhere, so that could be "pushing through supply"
  • #32,673
  • Feb 19, 2020 9:25am Feb 19, 2020 9:25am
looks like this could go down too, some support is/was there, and what 2 weeks now sideways, so could be a good move
whatever direction it goes, but anyways, just some thoughts

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  • #32,674
  • Feb 19, 2020 9:44am Feb 19, 2020 9:44am
well a counter trend trade. it doesn't happen with me daily. but i'll say i was just there at right time, luckily.
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  • #32,675
  • Feb 19, 2020 9:51am Feb 19, 2020 9:51am
for the very first time while trading using VSA, i could make 7R in a single day in market on both sides - USDCAD. but i lost 2R in GBPAUD and AUDUSD. gonna post it shortly.
  • #32,676
  • Feb 19, 2020 10:00am Feb 19, 2020 10:00am
Quoting attique08
for the very first time while trading using VSA, i could make 7R in a single day in market on both sides - USDCAD. but i lost 2R in GBPAUD and AUDUSD. gonna post it shortly.
Good job.

Most days its fairly easy to get 4-5R, trending days you can get 10R more.. Look through Pres78's posts he could get 12R-15R. There was another trader Albern who posted 10R stuff, but I'm not sure how consistent he was.

ForexFactory loves to trade without a stop losses for some reason, there have been a lot popular threads where the people thought the answer to profitability was trade small lots and to average losers.
  • #32,677
  • Feb 19, 2020 10:14am Feb 19, 2020 10:14am
Quoting attique08
well a counter trend trade. it doesn't happen with me daily. but i'll say i was just there at right time, luckily. {image}
good exit too

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  • #32,678
  • Feb 19, 2020 10:14am Feb 19, 2020 10:14am
Quoting Anotan
{quote} Good job. Most days its fairly easy to get 4-5R, trending days you can get 10R more.. Look through Pres78's posts he could get 12R-15R. There was another trader Albern who posted 10R stuff, but I'm not sure how consistent he was. ForexFactory loves to trade without a stop losses for some reason, there have been a lot popular threads where the people thought the answer to profitability was trade small lots and to average losers.
thank you very much for recommendations. i'll definitely look into their posts as well. btw, i use PositionSizeCalculator indicator to place my trades. Never looked at what will be the lot size as it is automatically calculated as per my SL. I don't trade without SL at all. fixed R. SL as per circumstances.
  • #32,679
  • Feb 19, 2020 10:19am Feb 19, 2020 10:19am
Quoting juhanimi
{quote} good exit too {image}
I still need to learn to make bulk of Rs like other VSAers (i don't call myself one of them, humbly a newbie). For now i just rely on 2R. once it is achieved whatever i get above it is a bonus. I had 3R on this trade. I acknowledged that it's counter trend trade. so made up my mind that i would quit on immediate downbar
  • #32,680
  • Feb 19, 2020 10:41am Feb 19, 2020 10:41am
Small 30 pip scalp..

there was a little test that price immediately responded to.
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