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vsa with Malcolm

  • #36,181
  • Edited 6:02pm Apr 11, 2024 5:33pm | Edited 6:02pm
Quoting Frag8383
Hi guys, I’m looking at charts past days and see places where I would have entered and what would I have done and so on. I would explain what I would have done and I will like people’s opinion. The chart is a 5 min chart of XAUUSD, Monday 8th of April in case anyone wants to have a look at their own charts. The trend on the 1 Hour chart was up and on the 15 M – 1H was big volume. The black bars at the bottom represent big volumes. 1 – Wide range bar on big volume – next bar down 2 – Smaller spread bar than previous bar, volume bigger and closing...
if you are not a scalper and dont want to catch every movement here is a simple approach just waiting weakness in down movement ... all down bars (H1) starting from EU/LDN were still in high volume ... so just waiting until NY, additionally you can draw support area where you can potentially see the opportunity ... during NY opening it was still strong selling power to bring it down for retracement ... waiting until the sign of weakness down bar appeard ... BOOOM ... that was the best, very safe entry .... the power of waiting ... VSA in the simplest way
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  • #36,182
  • Apr 12, 2024 8:36am Apr 12, 2024 8:36am
UCad long yesterday was stopped out, went back in on a no supply into the mid point of that high volume bar. I entered the trade just a few seconds before the bar closed, it was the end of day for me and I was ready to sleep.

But following the direction of big news bars the payout can be big, there is some supply hitting right now but not ready to exit this just yet.
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  • #36,183
  • Apr 12, 2024 11:21am Apr 12, 2024 11:21am
Quoting Macallik
Great to see some lively discussion in the thread again. On another note, is anyone trading Springs w/ VSA? I've come to the realization that discretionary trading w/ VSA was too much to juggle, so I've pared back every setup outside of Springs and will focus on it exclusively for now.
IMHO don't limit yourself to just one setup. If you took your car to a mechanic and all they had in their toolbox was a hammer, you would turn around and GTFO.

Trading is the sameway, if all you have is a hammer then everything looks like a nail. In VSA we can scalp current PA, we also have swing trades with triggers and S/D zones. We can mark the playing field with VZA zones off big news bars and trend channels.

Literally 99.9% of trading is waiting for something to happen, use that time to explore the possibilities with everything you've learned from volume.

A big thing is know where the previous day H/L and the previous week H/L. You can almost guarantee there will be supply on the high and demand on the low. But those are also break out points so you have to be careful and wait until your 110% sure that price is going to absorb the sellers or respond to them.

If you see a setup post a chart, doesn't have to be a trade taken or a successful setup. People will respond, this isn't a toxic thread.
  • #36,184
  • Apr 12, 2024 3:27pm Apr 12, 2024 3:27pm
Quoting Anotan
{quote} I wouldn't consider it. On your last chart, 3 bars prior to bar 1.. That bar is bit higher in volume than the previous bar and quite a bit narrower and that bar wasn't worth noticing. I just look for sudden surge or decrease in volume into fresh new ground. A lot of people dismiss me when I say price can turn just as easy on low volume as it can high volume. Low volume into fresh new ground just takes a little practice to spot. Also about a month ago I read the first 150 pages of the first VSA thread, I found that very helpful with background...
Anotan how is it going

I have read 80 pages of the thread "trade using vsa...." The link you provided.

I find the same as I always have found, all pros mention that the background is extremely important but they don not give clear definition of what it is.

Tell me if I'm correct or wrong please. After reading half this thread and the meaty part of the other.
Background
1- higher timeframe trend
2-higher time frame sos or sow depending on the direction of the trend
3- support and resistance zones on higher timeframe

You combine the 3 points from above and you get the background

Is this correct or I'm missing something?

Thanks
Kind regards
  • #36,185
  • Apr 12, 2024 3:32pm Apr 12, 2024 3:32pm
Quoting Anotan
{quote} IMHO don't limit yourself to just one setup. If you took your car to a mechanic and all they had in their toolbox was a hammer, you would turn around and GTFO. Trading is the sameway, if all you have is a hammer then everything looks like a nail. In VSA we can scalp current PA, we also have swing trades with triggers and S/D zones. We can mark the playing field with VZA zones off big news bars and trend channels. Literally 99.9% of trading is waiting for something to happen, use that time to explore the possibilities with everything you've...
I think that he trades the way Gary Fuller trades that is on testing of wide spread bars with volume and then waits for a test of those bars with a spring and always with the trend
  • #36,186
  • Apr 12, 2024 7:22pm Apr 12, 2024 7:22pm
Quoting Frag8383
{quote} Anotan how is it going I have read 80 pages of the thread "trade using vsa...." The link you provided. I find the same as I always have found, all pros mention that the background is extremely important but they don not give clear definition of what it is. Tell me if I'm correct or wrong please. After reading half this thread and the meaty part of the other. Background 1- higher timeframe trend 2-higher time frame sos or sow depending on the direction of the trend 3- support and resistance zones on higher timeframe You combine the 3 points...
Yeah it's annoying when people say background but don't define it, like they expect everyone to have the same skill set and experience. Or they get off of some ego trip with making people guess.

A big part of the markets is that price doesn't immediately change from bullish to bearish and back again. It takes time, so if the previous session or previous day was bearish it's likely price will still be bearish. I like Gavins analogy that the markets are like an oil tanker ship, it takes almost a mile for those ships to turn around.

https://www.forexfactory.com/thread/...10#post2635110

That post is a good example of reading the volume of the previous session. In that example if there is supply in the next session you aren't going to be interested because of the previous sessions buying.

Also higher time frames. Daily chart are you seeing HH/HLs from the past few days? If so and price is above the current day open then longs. Daily chart and you see a ND and price is below the current day open then shorts.

Also H1 chart, how did yesterday react to the day before it? If yesterday pushed through supply from the day before then longs. Do you see a SoS on yesterday's low? Did price push up above that SoS? Then wait for price to return and retest that SoS.

Also another thing is you don't have to enter right away or you can scale in, if you see your entry bar and still have doubts then give it a few bars. Nothing wrong with seeing a NS and buying on an up bar a few bars later.
  • #36,187
  • Apr 15, 2024 9:51am Apr 15, 2024 9:51am
UCad, Daily still making HHs and HLs. There was a little bit of a drop off in volume Friday, but when price bounced of Friday's midpoint buyers showed their hand. Still 6 hours left in the day, but today could potential close as a inside test which if it does that means tomorrow we could see another nice markup.
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  • #36,188
  • Apr 15, 2024 7:23pm Apr 15, 2024 7:23pm
Quoting Anotan
{quote} IMHO don't limit yourself to just one setup. If you took your car to a mechanic and all they had in their toolbox was a hammer, you would turn around and GTFO. Trading is the sameway, if all you have is a hammer then everything looks like a nail. In VSA we can scalp current PA, we also have swing trades with triggers and S/D zones. We can mark the playing field with VZA zones off big news bars and trend channels. Literally 99.9% of trading is waiting for something to happen, use that time to explore the possibilities with everything you've...
Thanks for the advice! I don't plan on trading Springs permanently, but it will be my sole focus initially. Everyone has their strengths/weaknesses, and for me, I generally struggle w/ being a jack of all trades (and master of none) IRL, and realized I was also being stretched too thin as a discretionary VSA trader.

Once I get consistency w/ Springs, I plan on layering additional setups in the mix for sure.
  • #36,189
  • Apr 16, 2024 12:16pm Apr 16, 2024 12:16pm
Anyone take the EU short today? Same setup as yesterday on UCad except we saw a lack of interest to the upside as price tried to rally above yesterday's mid point.

This is a smaller position that I normally trade, Daily is still in a down trend with LHs/LLs, but we are falling on low volume. But there is no reason to try and catch a falling knife, wait for Daily to make a HH before considering any longs.
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  • #36,190
  • Apr 18, 2024 10:23pm Apr 18, 2024 10:23pm
Price wasn't going to break above the previous week's low on low volume. But to be fair, its hard to not make money going long on USD.
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  • #36,191
  • Apr 25, 2024 11:36am Apr 25, 2024 11:36am
I didn't catch today's entry on EU, but classic VZA. SoS on the previous day's low, price pushes up and comes back to retest the 50%.

I tried VZA a few years ago but gave up because I was fibbing the highest volume bar everyday rather than just big news bars like NFP/CPI and SoS on the low/SoW on the high.

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  • #36,192
  • Apr 25, 2024 11:42pm Apr 25, 2024 11:42pm
Fib the interest rate bar, who woulda thought that price would continue along the same trend thats its been in for the last 4 days?

Reading all the news stories, everyone guessing about if/when/where this intervention will occur instead of just trading whats on the chart.
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  • #36,193
  • Apr 26, 2024 11:52am Apr 26, 2024 11:52am
quick 3% trade on GU short, weakness AR break on low vol, short
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  • #36,194
  • Edited 4:13pm Apr 26, 2024 3:25pm | Edited 4:13pm
Quoting Anotan
Fib the interest rate bar, who woulda thought that price would continue along the same trend thats its been in for the last 4 days? Reading all the news stories, everyone guessing about if/when/where this intervention will occur instead of just trading whats on the chart. {image}
Went to sleep during LO and my AJ long was stopped out.

Picked up EJ in US though, was going to hold it over the weekend but closed it after I saw it was up 90+ pips. Just before the US session there was a mini shake out into the high of the LO Shake out. Entry was late, should've been on the low volume down bar into the 50% of the mini shake out.
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  • #36,195
  • Apr 27, 2024 1:47am Apr 27, 2024 1:47am
Quoting Anotan
{quote} Went to sleep during LO and my AJ long was stopped out. Picked up EJ in US though, was going to hold it over the weekend but closed it after I saw it was up 90+ pips. Just before the US session there was a mini shake out into the high of the LO Shake out. Entry was late, should've been on the low volume down bar into the 50% of the mini shake out. {image}
nice, i choosed to stay away from JPY pairs cos of the BOJ intervention. was a good week nontheless
  • #36,196
  • Apr 27, 2024 3:42pm Apr 27, 2024 3:42pm
UCAD on Monday might be interesting..

Highest volume bar on the lows and price broke above the high late Friday. Sunday could be a long setup if price comes down to test the mid point on narrow spreads and volume.

The only thing is that there was weakness on April 24th highs that price reacted to, so be cautious with any widespread down bars. Those could be price trying to absorb buyers.

I won't be able to trade most of next week, so good luck.
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  • #36,197
  • Apr 28, 2024 2:00am Apr 28, 2024 2:00am
Quoting Anotan
UCAD on Monday might be interesting.. Highest volume bar on the lows and price broke above the high late Friday. Sunday could be a long setup if price comes down to test the mid point on narrow spreads and volume. The only thing is that there was weakness on April 24th highs that price reacted to, so be cautious with any widespread down bars. Those could be price trying to absorb buyers. I won't be able to trade most of next week, so good luck. {image}
if i was to trade of daily chart i wouldn t go long cos of that vol and the result, but hrly and 5m show buying, it is a prev resist and fib, so yeah i d be looking for longs next week. Plus most of the dollar crosses showed weakness so it s a good bet
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  • #36,198
  • May 6, 2024 10:15am May 6, 2024 10:15am
USDJPY long.

Probably should've held the trade, but 40 pips in about 2 hours isn't a bad days work.
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  • #36,199
  • May 7, 2024 11:08am May 7, 2024 11:08am
As Tom liked to say, "If you're writing a book, this is the trade you would show".

Unfortunately I missed this trade because I was out to breakfast. Today's Asia session there was the AUD rate announcement and a bit of movement from that, because of that I didn't think there would be any significant movent today in US session.. But I was wrong.

Yesterday we had a no supply on daily, as long as today stayed above the daily open the background was all strength. The H1 chart we see a big increase in volume showing buyers stepping in as we approached yesterday's mid point.

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M15 we have a low volume test into yesterday's 50.

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  • #36,200
  • May 7, 2024 1:23pm May 7, 2024 1:23pm
Quoting Anotan
As Tom liked to say, "If you're writing a book, this is the trade you would show".
Hey Anotan, this actually touched on something I've been thinking about and brought up w/ a trading buddy last week...

I feel like the more reps that I put up, the easier it is to spot textbook setups, but also the realization that the majority of VSA setups are not textbook setups. The examples in Master The Markets are easy to grasp w/ repetition, but IRL that one textbook setup is buried amongst 8-9 'potentially profitable but harder to analyze/time' non-textbook setups.

The analogy that comes to mind is learning to drive in an empty parking lot, only to get your driver's license and have to navigate a rush hour commute... there are all these unexplained nuances/variables outside of the ideal setup.

I've got 1-2 questions on the journey you've had gaining 'non-textbook' confidence over the years...

  1. How did you handle the non-textbook setups initially? The "Hmmm this isn't exactly like I was taught so I have to figure out my own solution here" aspect of it all?
  2. How did your confidence grow over time w/ non-textbook setups? Was it as simple as getting as many reps w/ non-textbook setups as w/ textbook setups?
  3. Has your definition of a textbook trade expanded through experience, or would you say it's remained mostly the same and you just have a better understanding of the nuances of trades that aren't textbook/glaringly obvious for you?

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