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vsa with Malcolm

  • #33,581
  • Edited 5:31am Nov 9, 2020 5:05am | Edited 5:31am
Quoting 1odi
5m entry, daily target, if all pans out, 7pips SL EDIT> just glanced at the trade now, we have the 5m GOTCHA bar, hopefully catching all the people trying to go short from 1hr trendline break and retest setup!!! we ll see how it develops, i can t win if i don t take a risk, no matter how small {image} {image}
I hope you don't mind me commenting on your trade.

looking at H1 on EC, I don't see any signs that EC is being actively traded I get the feeling that the pair is only moving because EU and UC are moving. Looking at Friday's action, during LO here wasn't really and decent expansion volume and marking off the close for the LO bar there wasn't any clear reaction showing us that any pros were willing to defend their position. Today as we approached Friday's LO trigger 1.5463, price closes above and below it multiple times.. Price was really just all over the place.

On another note looking at your M5 chart, the first high volume bar you marked off, the one before 7:30 on your chart is a shakeout. It did everything a shakeout is suppose to do, so the 2nd high volume bar you marked off, the one after 9:00 why was this bar back at the lows of the shakeout? The market had already been shook out.. it's always suspect when the market comes back down the the low of a shakeout, the market is suppose to rally aftewards.
  • #33,582
  • Nov 9, 2020 5:12am Nov 9, 2020 5:12am
This goes in hand with my previous post about EC not being actively traded.

Something that we don't talk about is the fundamental side.. Last week we had a major US election, FOMC and NFP all rolled into one week. With such major events it only makes sense the pros are going to be actively trading USD, its going to be the most volatile and we know that volatility is where the pros fill their orders.

So with that, since we follow the pros footsteps it makes sense for the time being that we are watching USD pairs and pulling up weekly/monthly TFs the first half of this year really makes sense. And take a look around FF lately? Everyone is hell bent on buying USD.

AUD especially, massive weekly shakeout back in March.
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  • #33,583
  • Nov 9, 2020 5:27am Nov 9, 2020 5:27am
Quoting hefei
{quote} In a word, while bar C perfectly meets the definition of ND, but from the connotation, i think it represents a kind of NS. what do you think of my opinion?
Bar C is 100% a no demand..

Price tried to rally on this bar and failed, the low volume shows us no serious buyers were willing to buy on this bar, and the close in the middle said someone sold the highs of this bar.

There is a chance this ND could fail, which would be a bullish sign, if the next bar closes above the high of this bar and bonus points for closing well above the the high then you could start looking for a test/NS to go long off of.

But this screenshot isn't enough to go on though, you need to see the bigger picture. For example if price is overextended and signs of distro in the background then you would want to ignore the rallies and sell the tops.
  • #33,584
  • Nov 9, 2020 8:48am Nov 9, 2020 8:48am
Quoting Anotan
{quote} I hope you don't mind me commenting on your trade. looking at H1 on EC, I don't see any signs that EC is being actively traded I get the feeling that the pair is only moving because EU and UC are moving. Looking at Friday's action, during LO here wasn't really and decent expansion volume and marking off the close for the LO bar there wasn't any clear reaction showing us that any pros were willing to defend their position. Today as we approached Friday's LO trigger 1.5463, price closes above and below it multiple times.. Price was really...
u are right on this 1, should ve been more carefull, but looked good, traded that sort of pattern millions of times so i took the trade, took the loss also, it s ok. don t see many losses posted here so there u go . as for commenting, that s reccomended, it s how i keep learning and keep progressing as that never stops.
cheers
  • #33,585
  • Nov 10, 2020 5:07am Nov 10, 2020 5:07am
Quoting HiddenGap
{quote} Basic definitions: 1. UP bar: A bar that closes higher than the close of the previous bar. 2. DOWN bar: A bar that closes lower than the close of the previous bar. 3. No Demand: A narrow range UP bar on volume less than the previous two bars. 4. No Supply: A narrow range DOWN bar on volume less than the previous two bars. {image} A: A wide range DOWN bar closing in the middle of its range on ultra-high volume. This bar is an obvious sign of strength. It can be termed Stopping Volume, Professional Buying, or Climatic Action. The name is not...

Really great explanation!!!
  • #33,586
  • Nov 10, 2020 5:39am Nov 10, 2020 5:39am
Hi , I am using MT5 , which broker ( Demo ) is the best to get the volume data for forex.
  • #33,587
  • Nov 16, 2020 4:56am Nov 16, 2020 4:56am
I wonder if SM is hoping that people have forgotten about the election volume?
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  • #33,588
  • Nov 16, 2020 5:22am Nov 16, 2020 5:22am
This UC trade price is coming up a bit faster than I would like.

M5 up thrust I'll be watching to see if price starts falling on low volume.. If it does then I'll start closing out off of these small orders below 1.3085. My big orders are 3105 and above which gives me an option to cloes 1 or 2 to off set any losses from the small orders taken at lower prices.

Not too worried, I don't see price returning to 3120 today, but a little cautious atm.
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  • #33,589
  • Nov 16, 2020 5:48am Nov 16, 2020 5:48am
Closed out all of the smaller orders below 3085 out, they ended up being a little less than 4% loss which is fairly small considering my average win and how infrequent I trade these days.

Still holding on to large positions SL at 3110, let the rest play out from here.
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  • #33,590
  • Nov 16, 2020 6:16am Nov 16, 2020 6:16am
Sorry,

Could anyone guide me where to start this Thread Please
Tamizhan
  • #33,591
  • Nov 16, 2020 6:31am Nov 16, 2020 6:31am
Quoting Mahapathy
Sorry, Could anyone guide me where to start this Thread Please
All you really need is the book Master the Markets, which is provided for free by TradeGuider.

https://www.tradeguider.com/mtm_251058.pdf
  • #33,592
  • Nov 16, 2020 6:33am Nov 16, 2020 6:33am
Quoting Anotan
{quote} All you really need is the book Master the Markets, which is provided for free by TradeGuider. https://www.tradeguider.com/mtm_251058.pdf

Thanks Anotan
Tamizhan
  • #33,593
  • Nov 16, 2020 10:27pm Nov 16, 2020 10:27pm
If you're watching UC still looks good for shorts.

The trigger number for the expansion volume, late in the day there was a hidden up thrust rejecting the trigger number and the result from that up thrust was a very wide spread down bar. SL still at 1.3110, just hiding the trades for a clearer chart.

I will admit today during Asia there does look to be a little bit of buying with a classic test on the lows. There is some risk to price moving to the upside, but still willing to let the short ride.
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  • #33,594
  • Nov 17, 2020 1:18am Nov 17, 2020 1:18am
There it is.. Planning on dumping it at 1.3000
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  • #33,595
  • Nov 17, 2020 11:42pm Nov 17, 2020 11:42pm
UCAD has been a pain.

Bar A: was an up thrust on Monday which is where I originally started selling.

Bar B: Run for stops, which they got me yesterday.

Bar C: Price tried to break the high of Bar B, but we ended up getting a test which failed.
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  • #33,596
  • Nov 18, 2020 12:13am Nov 18, 2020 12:13am
If you're watching AU, it should take out yesterday's high soon.

Today in Asia we had a bit of stopping volume followed immediately by a test which the test had a positive result.
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  • #33,597
  • Nov 18, 2020 1:22am Nov 18, 2020 1:22am
Closed a few UC shorts to help offset losses. I'm done for now, waiting to see what happens at 1.2970.
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  • #33,598
  • Nov 18, 2020 8:27am Nov 18, 2020 8:27am
Quoting Anotan
If you're watching AU, it should take out yesterday's high soon. Today in Asia we had a bit of stopping volume followed immediately by a test which the test had a positive result. {image}
Got me a piece of that too.

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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #33,599
  • Nov 18, 2020 8:39am Nov 18, 2020 8:39am
UCad gave me a bit of trouble, but it shaped up nicely.

Bar A was a no demand up thrust.. just calling a no demand due to the small spread. Bar B they tried to run stops on bar A but barely touched the high. Loaded up on shorts on the way down from bar B.

See ya at 1.2970!
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  • #33,600
  • Nov 18, 2020 8:41am Nov 18, 2020 8:41am
Quoting Anotan
If you're watching UC still looks good for shorts.
Very nice.

When price entered the Supply/Demand Zone and showed weakness, I said, "You can take a trade and take comfort you're not trading against Anotan."

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Without VSA, you're playing checkers while the Smart Money plays chess.
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