vsa with Malcolm

guys in VSA when we say spread what does it exactly mean is it the candle range or difference between open and close ?

Candle range. That is why most VSA charts only show the High/Low/Close instead of Open/High/Low/Close.

thankyou for your reply at such short notice .Can we trust the volume information from trading view? I follow FXCM for forex pairs .

Funny you should ask, I was talking w/ Pranith R. about this yesterday. FXCM had the most consistent free FX data on TradingView the last time I checked, and I haven't seen any reason not to trust their intraday Forex data, but I will say that their Daily charts regularly show incorrect volume bars. I used to reach out to the customer care to get the bars corrected, but it was happening every other week so I gave up.

Here's an example of an error that was showing as of yesterday morning for example. AFAIK the highlighted bar had normal volume, but the FXCM feed often duplicates the volume print and so it says 2x the volume that it actually should:

It's one bar, but the story changes completely when the volume can't be trusted. However, when I drill down to the Daily chart, it doesn't have 2x the volume so I believe it has something to do with how they summarize EOD volume

CME has futures data for US pairs as an alternative (ie: 6e1! is EU, 6j1! for UJ, etc). It is delayed 20 minutes unless you pay the monthly subscription. If I were trading intraday, I would be less concerned about the data inconsistencies. Also in general, the data feed is pretty low impact on a quest to master a strategy so I wouldn't spend any recurring costs on data feeds until I had a very strong grasp of VSA.

thanks. i does intraday . recently i came across VSA. its ideas sounds logical but i find difficulty in gauging the candle spread .some times its difficult to compare candle ranges visually and more over price status line shows only the difference between open and close instead of price range . any solution for this

Occasionally, I use this to explicitly see the complete range of a bar, but very rarely. Eyeballing it should become easier as you get more reps reading the charts

Practice makes perfect. Read Master The Markets if you haven't already and use it as a reference whenever you get stuck. Good luck on your VSA journey

Bump..

That Dec 9th bar setup today's CPI move like a champ.

When it comes to trading the right edge of the chart, something I've never really done is look for the next bar to close up after bullish stopping volume. My rationalization has been that you normally see bullish stopping volume in a down trend, if the trend is strong enough there is a good chance the next bar will close down just because of the trend momentum.

I've been playing around with going up a couple of time frames and watching for the next bar to close up in order to confirm bullish stopping volume from the lower time frame. I normally trade a M15 so I have been looking at the H1 time frame to confirm M15 stopping volume, if you trade lower time frames you may to experiment which time frames work best together.

ECad from Monday. If you look at the next H1 bar, its not a great up bar because of the small body but it does close up confirming the stopping volume.



EU from yesterday, this is an example I didn't trade this because I was already short on UCad. EU and UCad are more or less the inverse.

I traded EU yesterday and my entry in Asia time almost at the same level where you marked hahaha .... additionally i put several adding positions to my first entry in europe london time .... I like to look at other times frames to get confirmation but mainly to get a view about the trend direction especially on higher TF like H4, D1 and for entry i normally use H1, M30 sometimes M15 ... my entry was just set and forget position just looking for 50 pips for EU

Quick short on EA today in Asia.

There could be more in the tank for the downside but price is at potential support.. A bird in the hand is worth two in the bush.

Rinse and repeat.

Lets see if I survive FOMC news.

There was a bearish 2 bar reversal but price refused to drop, price was only able to dip 4 pips below that huge SoW. If price isn't bearish then it must be bullish.


Plus there was a perfect head fake off an UT with a big wick, markets love to trap traders who blindly trade pin bars.

I didn't really see too much yesterday that I wanted to trade.

Today was very straight forward on UCad.

On the M15 price had a nice down move and finished with a No selling pressure bar, spread is a little wide to call it a No Supply. Which price rallies and confirms on H1. I entered off that test that was down into that UT, which I did have to sit on some draw down before price finally rallied.

Happy Weekend.

AJ long, good trade to build some long term trades.

Remember those CPI trades that could run for 200-300 pips, this could be something like that.

I closed out my AJ trades by mistake, I had some EU longs from yesterday I was closing..

Price just tested out the low of that rate announcement bar on low volume and small spread. I brought my stop up, basically if price dips any lower then I wouldn't want these longs.

Looks like I was a day early for longs, yesterday I was stopped out for a loss on my longs.

Late yesterday we see 2 NS bars on the low and currently price is pushing above the low of the rate statement bar.

Took a few tries but we're getting there. Watching that mid point on the CPI bar.

A couple of hours ago, price tested the previous high from Asia, which the Asia high had a squat bar.

Like watching paint dry today.. A lot of pairs are sitting around 40% ADR.


Its a little misleading, on the h1 chart the next up bar confirms the m15 NSP.

Round 2..

As price dipped below those shakeouts, the speed of price ticking increased and price was jumping a little bit. Like an Elephant you know big money is active.


Exited most of the position, left one open in case it runs.

If you're holding any JPY trades, don't forget about that widespread bar from Dec 20th rate announcement.