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vsa with Malcolm

  • #35,781
  • Edited 7:59am Aug 15, 2022 3:18am | Edited 7:59am
Back in 2020 I had a rule pertaining to the H1 chart.. If you see something interesting, wait a day. That rule kept me from entering the market too early, looking at it Friday I knew something was off with that UT but with a failed test, I ignored the signals at my peril and went short again. By waiting a day it's easier to see how the puzzle comes together.

UC H1.

Today's opening bar kissed the high of the UT and headed straight up.

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M15 chart

Nice no supply bar, which allowed price to go up. Price did go up on high volume, but we know that volume on the up bar isn't bearish because of the H1 chart and also because price is rallying off the NS. Theres a 2 bar reversal right into the close of the high volume bar which I entered off as price was creeping up.

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Closed the position out, on D1 chart price reaching a significant close. Had to zoom into the chart because the profit label was covering up the HVC. Nice start to the week, might take tomorrow off.

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  • #35,782
  • Edited Aug 17, 2022 1:16am Aug 16, 2022 8:23pm | Edited Aug 17, 2022 1:16am
CADJPY Daily

2 bar reversal on daily, notice the down bar cleared out stops from early bulls.

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130.31 has been acting as hard support since US session yesterday. That HVC is off a 2 bar reversal from Monday's home session

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Leeeeets go..

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  • #35,783
  • Aug 17, 2022 1:37am Aug 17, 2022 1:37am
A little nervious about this EJ long but it worked out like a champ.

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The climatic volume looked bearish to me, if I see an up move followed by a high volume down bar I treat it as bearish. But the Daily charts on xxxJPY I don't want to be short.

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  • #35,784
  • Aug 17, 2022 1:38am Aug 17, 2022 1:38am
Quoting Anotan
CADJPY ...
Will it reach 107,60? How do You think, brother?
  • #35,785
  • Aug 17, 2022 2:31am Aug 17, 2022 2:31am
Quoting bigiivan
{quote} Will it reach 107,60? How do You think, brother?
I think the next area to watch is 105.90, if price pushes through it then yeah start watching the highs at 107.60
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  • #35,786
  • Aug 17, 2022 3:18am Aug 17, 2022 3:18am
Quoting Anotan
{quote} I think the next area to watch is 105.90, if price pushes through it then yeah start watching the highs at 107.60 {image}
Nice view! Mine is almost the same.
Thank You, A!
  • #35,787
  • Edited 10:49am Aug 17, 2022 3:48am | Edited 10:49am
RIP EJ bears.

Watching 138.00 on EJ. It really is important to do the same analysis on daily charts as you do on intraday charts.

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Went ahead and closed EJ long down. FOMC is coming up in 2.5 hours, EJ has resistance above at 138.00 and I rather not risk 115 pips of profit by trying squeeze another 35 pips out of it. Can always come back tomorrow and hit JPY again.

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  • #35,788
  • Aug 24, 2022 12:03pm Aug 24, 2022 12:03pm
Does anyone else pay attention to the importance of the USD? It looks like it's potentially in the early stages of distribution:

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A: Previous top that is bringing out supply
1: Absorption bar
2: Clear EvR bar
3: Subtle EvR bar (Same size as #1 but more volume)
4: Lots of supply is drawn out
5: Likely a No Demand Bar

Price is still in an uptrend for now but I'm watching for a No Demand Bar below $108 as a potential signal of a turnaround for the Dollar. It could be a few days/weeks away, but I think the downside play has more potential than the upside moving forward (and subsequently a lot of other related instruments might reverse direction as well)

For example, EURUSD (imo currently in the early stages of accumulation, but reduced volume on a retest of the $1.00 level) USDJPY (imo currently undergoing distribution and struggling to retest $139) and Gold (imo currently undergoing accumulation and arguably put in a higher low over the last few sessions).
  • #35,789
  • Edited 8:27am Aug 27, 2022 12:57am | Edited 8:27am
Quoting Paulscaff1
{quote} Ive had a PDF (scanned) cooy of "My journey of discovery" the book for a while but never really looked at it, until its just been mentioned But having just quickly flicked through it I would say it looks good, there are certain nuances about the different principles that arent elaborated as much in other books, and from first impressions it looks like its going to answer some of my questions/fill in some gaps. Il read it properly over the weekend to see how it compares to MTM and Shadow of SM.
Hi Paulscaff,

Could you share the pdf of this book in my email { email address deleted by staff }
I have been trying to find this book since 5 years.
  • #35,790
  • Aug 31, 2022 10:18am Aug 31, 2022 10:18am
GU & GJ,
Waiting for long confirmation, Markup is going to be quite rewarding
GJ accumulating since 1 month.
Holy Grail - Patience and Acceptance
  • #35,791
  • Edited 10:09am Sep 2, 2022 9:55am | Edited 10:09am
Quoting bigiivan
{quote} Will it reach 107,60? How do You think, brother?
Did you have a long on CJ? Are you still holding your trades?

Think I'm going to close my last long next week.
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  • #35,792
  • Sep 2, 2022 10:09am Sep 2, 2022 10:09am
EJ

Yesterday's PA was ugly, almost skipped over this pair but that absorption bar caught my eye. About to close this trade down, I was planning on letting it run but xxx/JPY starting to look a bit over extended on dailies.
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  • #35,793
  • Sep 5, 2022 1:36am Sep 5, 2022 1:36am
Quoting Anotan
{quote} Did you have a long on CJ? Are you still holding your trades? Think I'm going to close my last long next week. {image}
No. I closed it on the next day or day after at around 105,60. I am not looking for buys at JPY pairs at the moment.
  • #35,794
  • Sep 6, 2022 2:17am Sep 6, 2022 2:17am
Quoting Anotan
{quote} Think I'm going to close my last long next week. {image}
CJ closed..

3 positions on this trade with average of 271 pips gain.

It was a nice win, but doing the math 16 trading days with 271 pip gain comes out to an average of 16.9 pips per day.
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  • #35,795
  • Sep 6, 2022 4:17am Sep 6, 2022 4:17am
Quoting Anotan
{quote} CJ closed.. 3 positions on this trade with average of 271 pips gain. It was a nice win, but doing the math 16 trading days with 271 pip gain comes out to an average of 16.9 pips per day. {image}
Very good and precise execution.
  • #35,796
  • Sep 6, 2022 11:11am Sep 6, 2022 11:11am
Quoting bluesoul
GU & GJ, Waiting for long confirmation, Markup is going to be quite rewarding GJ accumulating since 1 month.
GU is still holding, fundamentally weak, but technically there is an upmove due before going down to 1.10
GJ went well
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Holy Grail - Patience and Acceptance
  • #35,797
  • Sep 6, 2022 11:12am Sep 6, 2022 11:12am
Quoting bigiivan
{quote} No. I closed it on the next day or day after at around 105,60. I am not looking for buys at JPY pairs at the moment.
Which TF's you trade, Setup and entry TF
Holy Grail - Patience and Acceptance
  • #35,798
  • Sep 7, 2022 2:18am Sep 7, 2022 2:18am
Quoting bluesoul
{quote} Which TF's you trade, Setup and entry TF
Mostly H4, and sometimes H1. I don't like smaller TF's.
  • #35,799
  • Sep 7, 2022 4:30am Sep 7, 2022 4:30am
Quoting Anotan
EJ Yesterday's PA was ugly, almost skipped over this pair but that absorption bar caught my eye. About to close this trade down, I was planning on letting it run but xxx/JPY starting to look a bit over extended on dailies. {image}
Which TF's you trade, Setup and entry TF
Holy Grail - Patience and Acceptance
  • #35,800
  • Sep 7, 2022 4:33am Sep 7, 2022 4:33am
Quoting Macallik
Does anyone else pay attention to the importance of the USD? It looks like it's potentially in the early stages of distribution: {image}A: Previous top that is bringing out supply 1: Absorption bar 2: Clear EvR bar 3: Subtle EvR bar (Same size as #1 but more volume) 4: Lots of supply is drawn out 5: Likely a No Demand Bar Price is still in an uptrend for now but I'm watching for a No Demand Bar below $108 as a potential signal of a turnaround for the Dollar. It could be a few days/weeks away,...
Agree with most of your analysis
Holy Grail - Patience and Acceptance
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