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vsa with Malcolm

  • #32,681
  • Feb 19, 2020 10:50am Feb 19, 2020 10:50am
while looking back into losing trade i realized that i am still impatient, part of herd of course, lol. with bullish GBP bias, GBPAUD being at support of bullish channel, support was broke with rising volume followed by wider spread upbars on higher volumes showing demand swamping supply. this is where i entered without making sure that there is no more supply left. i didn't wait for no supply or any test.

*EDIT
i didn't go for at least a lower or higher tf. which i did in 2 trades on USDCAD after losing this trade. it was bearish pinbar testing support of channel after breakout. a clear signal not to buy, at least.
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  • #32,682
  • Feb 19, 2020 11:27am Feb 19, 2020 11:27am
You kinda ignored volume, there was a high volume bar right above you and price kept rejecting the close. It rejected the close once before you entered into your long and twice after you got stopped out.

Also look at the top, you will see the yellow circle where price could not break the 3/4 line of the trend channel, which is weakness.
Attached Image
  • #32,683
  • Feb 19, 2020 11:46am Feb 19, 2020 11:46am
Quoting Anotan
You kinda ignored volume, there was a high volume bar right above you and price kept rejecting the close. It rejected the close once before you entered into your long and twice after you got stopped out.
man, i didn't even notice it at all. spot on. i was just looking at demand swamping supply and closing in channel back again and i ignored the exact point you mentioned; rejection from same level. wow
Quoting Anotan
the yellow circle where price could not break the 3/4 line of the trend channel, which is weakness. {image}
a silly mistake, indeed.
  • #32,684
  • Feb 19, 2020 1:54pm Feb 19, 2020 1:54pm
I was hoping we would see a 500% day on USDJPY, but volume is starting to come in. Closed out of some more JPY scalps.
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  • #32,685
  • Feb 19, 2020 2:34pm Feb 19, 2020 2:34pm
second last bar seems high volume test which may be tested later.
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  • #32,686
  • Feb 20, 2020 1:30am Feb 20, 2020 1:30am
Quoting Anotan
{quote} AUD/USD I'm leaving my 3 positions open, AUD is as good as .6600..
I really wanted to take the rest of the week off, but there is too much going on.

AUD I closed one position at .6640 and moved the TP for the other two down to .6000, Monthly chart has a massive 2 bar reversal, so AUD isn't coming back up anytime soon.

CADJPY Daily chart, ultra wide spread up bar with average volume at best. There isn't any sellers in this bar, JPY isn't going to give up any of the ground it made yesterday. Took a long in late Asia off a test in a rising market on H1, I'd be very surprised today if we didn't take out the 84.55 top today. I'm debating on holding this trade to 90.XX.
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  • #32,687
  • Feb 20, 2020 1:52am Feb 20, 2020 1:52am
Quoting Anotan
{quote} I really wanted to take the rest of the week off, but there is too much going on. AUD I closed one position at .6640 and moved the TP for the other two down to .6000, Monthly chart has a massive 2 bar reversal, so AUD isn't coming back up anytime soon. CADJPY Daily chart, ultra wide spread up bar with average volume at best. There isn't any sellers in this bar, JPY isn't going to give up any of the ground it made yesterday. Took a long in late Asia off a test in a rising market on H1, I'd be very surprised today if we didn't take out the...
yes, I'm also holding a long position on a jpy cross, currently 7R and I don't see any reason to close it yet
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  • #32,688
  • Feb 20, 2020 4:27am Feb 20, 2020 4:27am
Quick long on USDCAD, not sure on TP. Maybe 3275.

Entry was on a M15 NS.
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  • #32,689
  • Feb 20, 2020 6:58am Feb 20, 2020 6:58am
Quoting Anotan
Quick long on USDCAD, not sure on TP. Maybe 3275. Entry was on a M15 NS. {image}
Just closed it at 3260. Price has been struggling for 3 hours to break the level.
  • #32,690
  • Feb 20, 2020 4:25pm Feb 20, 2020 4:25pm
Quoting attique08
second last bar seems high volume test which may be tested later. {image}
Yeah, but is it really wise to take trades against trend, when you look at this chart, do you really think: "I must buy now". Try to learn to do the opposite, look for sell signals when down trend.



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  • #32,691
  • Feb 21, 2020 2:14pm Feb 21, 2020 2:14pm
Quoting scalper16
i think many traders find vsa relative volume indicator free download... this's indicator i am free download google...pls give me it's feedback Regard scalper16 {file} {file} {image}
wow. never knew that this volume indicator is available for free, lol.
  • #32,692
  • Feb 21, 2020 10:22pm Feb 21, 2020 10:22pm
I didn't trade this, but euro had a really nice setup.

H4 chart there was bag holding.

Bar A - Shakeout, which cleared stops from early bulls, very nice result from the shakeout with price making a HH.

Bar B - test back into the area of bar a, I didn't mark it but a few bars later after bar B there is a down bar with a little increase on volume which price only moves up from there.
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  • #32,693
  • Edited 10:48pm Feb 21, 2020 10:32pm | Edited 10:48pm
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right after 2BR setup which i have seen many times on this thread; with weakness in background i went short below it. with a little retraced market there was no demand while testing lower trigger line and closing below it. First looking at its spread i doubted it but with weakness in background and 2BR pattern i added another trade of 2% with TP set to 2R each trade. and rest is obvious; i was taken out, incurred 4% loss and didn't enter when i saw a clear high volume trap up move followed by another downbar.

Unlike other VSA'ers i lack patience which i am still trying to develop. It makes me more happy and confident that at least it (VSA) works. so first of all, lack of patience was my first mistake. secondly, taking probability into account i have no doubt it was a high probability setup but simply odds were not in my favor at that time.

Here i have a query that what will you do after watching that scenario? posted it for review, of course, please.

P.S. it was my first ever trade with fib on activity bar combining with 2BR and it worked actually.
  • #32,694
  • Feb 21, 2020 10:37pm Feb 21, 2020 10:37pm
I have recovered my loss through USDCAD short trade. I'll post that setup later. I spent hours going through vsa masterclass notes, pdfs shared by someone else and Blasterh22 shared/highlighted link to that post. First time i went into a trade with no TP. I followed TW's points: stay in downtrend till you see more than 2 upbars on falling volume followed by no supply or test. i followed that tip in m5 and bagged 4R. though market further went down but i was satisfied with simple exit strategy.
  • #32,695
  • Edited 5:37am Feb 22, 2020 12:19am | Edited 5:37am
I was trying to practice/read the market in hindsight. I am amazed how beautifully it was telling us that when it is going down and later up. I've highlighted sos/sow as i read the market being a beginner in VSA. i'll annotate it later for my record and others like me.
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EDIT:
that's how i see GBP for next week. it has a previous supply zone and there is lack of professional buying while approaching lower trigger line of bearish activity.
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EDIT(2)
analyzing lower time frame M30, it seems there is lack of participation of smart money at the end of week. IMHO strength in GBPUSD is still intact.
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criticism/comments/reviews are welcomed, please.
  • #32,696
  • Feb 22, 2020 6:45am Feb 22, 2020 6:45am
Monthly EURUSD now fourth time trying to break, interesting end of the Month.

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  • #32,697
  • Feb 22, 2020 8:11am Feb 22, 2020 8:11am
There is ultra high volume downbar closing in middle showing buyers stepping in after going across the daily level with absorption volume (SOS); daily level is being approached by falling volume now.
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  • #32,698
  • Feb 22, 2020 9:51pm Feb 22, 2020 9:51pm
First look at AUDUSD
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after looking at immediate lower time frame for confirmation
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If market retraces without any bearish activity and later shows no supply, test i'll go long in AUDUSD.

P.S. suggestions/corrections/review is requested, please.
  • #32,699
  • Feb 22, 2020 10:11pm Feb 22, 2020 10:11pm
Quoting attique08
First look at AUDUSD {image} after looking at immediate lower time frame for confirmation {image} If market retraces without any bearish activity and later shows no supply, test i'll go long in AUDUSD. P.S. suggestions/corrections/review is requested, please.
very useful analysis friend can you share with me gbpusd 5m analsis chart last friday
  • #32,700
  • Feb 22, 2020 10:16pm Feb 22, 2020 10:16pm
Quoting attique08
First look at AUDUSD {image} after looking at immediate lower time frame for confirmation {image} If market retraces without any bearish activity and later shows no supply, test i'll go long in AUDUSD. P.S. suggestions/corrections/review is requested, please.
You're doing well with VSA, your terminology is a bit off but you still have the right idea. IMO your biggest hurdle is patience, but once you get past that I think you will be a trading machine.

Chart 1: #3 is a two bar reversal.

Chart 2: #2 is a shakeout
#3 I would call no selling pressure, the spread on this bar is too wide. I like to look at the bodies of bars as well. you can see the body on bar 3 is wide.
*Two bars after #3 is a hidden test, it dips below the previous bar, closes up and both the body and bar are narrow.
#4 that is a text book no supply, the bar and body are narrow in range.

Looking at chart 1, you can see that there really hasn't been any confirmation of the strength, so odds are that price will want to come back down in a day or two and retest either bar #2 or #3. This is where patience comes in, waiting for strength to be confirmed.

Chart #2 after see price rise off the shakeout and hidden test, you could've made a scalp trade off the NS on #4. I kinda of view scalps as a way to pad your account so a scalp here I would be risking less money than I would a normal trade. On chart 1, if/when price comes back down and successfully test the strength, there I would start entering in with bigger position trades.
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