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Cable Update (GBPUSD)

  • #138,301
  • Jun 18, 2009 9:58pm Jun 18, 2009 9:58pm
Quoting forexlion
when a new candle starts the volume is almost 0

when the candle finishes is when you get to know the true volume of the candle

so

volume analysis is bs

since volume data is historical, you get to know it after the candle closes

so on 1 hour candle which just started and to say it went down on low volume is the biggest bs i ever heard in the history of fx

and

what is the use of historical data in predicting what can happen next
volumes work well in stocks .. bars with low spread on high volume almost always signals tops and bottoms and reversals ..
  • #138,302
  • Jun 18, 2009 10:04pm Jun 18, 2009 10:04pm
Quoting jack.canadia
For those of you that use the Dollar Index, here is some info that supports a bearish view.

It sometimes helps to compare the inverse chart of the dollar index to the G/U chart in terms of closing price to see any discrepancies in the strenght of the dollar and the movements of G/U.

Check it out.
here you go ... this is in a very tricky position ..if that large 2 hour vol was buying vol then we may see breakout in US tomorrow

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  • #138,303
  • Jun 18, 2009 10:09pm Jun 18, 2009 10:09pm
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Verily, in every difficulties there is relief
  • #138,304
  • Jun 18, 2009 10:14pm Jun 18, 2009 10:14pm
Quoting forexlion
when a new candle starts the volume is almost 0

when the candle finishes is when you get to know the true volume of the candle

so

volume analysis is bs

since volume data is historical, you get to know it after the candle closes

so on 1 hour candle which just started and to say it went down on low volume is the biggest bs i ever heard in the history of fx

and

what is the use of historical data in predicting what can happen next
you see you do not understand it your statement clearly shows that ..... nor do many that use it.

vsa is not about the current bar but background .. what has happened the bars leading into it and what is happening on support. Reading volume is like reading a book. You do not just start reading in the middle you have to wait for the story to unfold in front of you.

fore example we may see high volume bounce of a support level , showing strength , then 4 bars later see a low volume test of where the buyers were on support . The low volume indicates that sellers are not interested ...

I will peg my vsa against your indicators any day

go tell the guy at tradeguider that runs a 100 million hedge fund using nothing but vsa that it does not work

by the way my long using vsa is working very nicely thank you... currently 30 pips . I thought you were going to eat my stop !!!

there are many ways to skin a cat ... you like t3 .. I like vsa.

here is a classic buy set up in gj that was confirmed with vsa low vol test ...that was 155.5 . I closed this at 158 ,

also not how the candle that i was going long on was 1 0 high vol test support .. highest vol on 5 min in 6 hours , then doji slightly higher than the low of the high vol down candle . Think that is sellers ?

come on forexlion we have been thru this a million times lets not start again

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  • #138,305
  • Jun 18, 2009 10:21pm Jun 18, 2009 10:21pm
Quoting malcolmb14
you see you do not understand it your statement clearly shows that ..... nor do many that use it.

vsa is not about the current bar but background .. what has happened the bars leading into it and what is happening on support. Reading volume is like reading a book. You do not just start reading in the middle you have to wait for the story to unfold in front of you.

fore example we may see high volume bounce of a support level , showing strength , then 4 bars later see a low volume test of where the buyers were on support . The low volume indicates...
Ya he is a bit harsh eh haha .. dont take my comments to heart .. I like to ask alot of questions and VSA is appealing to me.
  • #138,306
  • Jun 18, 2009 10:22pm Jun 18, 2009 10:22pm
Quoting forexlion
when a new candle starts the volume is almost 0

when the candle finishes is when you get to know the true volume of the candle

so

volume analysis is bs

since volume data is historical, you get to know it after the candle closes

so on 1 hour candle which just started and to say it went down on low volume is the biggest bs i ever heard in the history of fx

and

what is the use of historical data in predicting what can happen next

lol this cracked me up .. how do you think indicators are calculated with info that has not been produced yet ? they are lagging all the time
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  • #138,307
  • Jun 18, 2009 10:27pm Jun 18, 2009 10:27pm
Quoting malcolmb14
lol this cracked me up .. how do you think indicators are calculated with info that has not been produced yet ? they are lagging all the time
so that we need future predictor...to measure price movement
fibo is one of them...
Verily, in every difficulties there is relief
  • #138,308
  • Jun 18, 2009 10:30pm Jun 18, 2009 10:30pm
Quoting jack.canadia
Ya he is a bit harsh eh haha .. dont take my comments to heart .. I like to ask alot of questions and VSA is appealing to me.

forexlion and i have a history .

ok i may be biased here but isn't a wedge like pattern this a bullish continuation pattern ? anbd that fact that the last large volume spikes on 4 hour indicate to me that buyers are coming in 6260 area and accmulating

should be an interesting end to the week , for sure tonight is going to be very critical

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  • #138,309
  • Jun 18, 2009 10:32pm Jun 18, 2009 10:32pm
Quoting malcolmb14
forexlion and i have a history .

ok i may be biased here but isn't a wedge like pattern this a bullish continuation pattern ? anbd that fact that the last large volume spikes on 4 hour indicate to me that buyers are coming in 6260 area and accmulating

should be an interesting end to the week , for sure tonight is going to be very critical

Attachment
Ya since its at the end of a bull run it is a bullish pattern. But we have seen anything and everything happening so a break either way will tell the story.
  • #138,310
  • Jun 18, 2009 10:38pm Jun 18, 2009 10:38pm
Quoting jack.canadia
Ya since its at the end of a bull run it is a bullish pattern. But we have seen anything and everything happening so a break either way will tell the story.

something odd going on ...

sent this chart to my mentor in vsa to see what he thinks .

also saw bullish signs in the ES at 905 on daily with a selling climax.

I have a feeling market is being manipulated right now last few day due to option expiry tomorrow. Monday should show is if we are going to reverse or if trends are going to continue.

Bond yields are rising due to inflation concerns .. what drives inflation is a devaluation of currency . Is usd really strong based on this ? maybe in fact the bullish wedge and the accumulation I am seeing on the 4 hour off 6250 will play out for 1.6500 and higher next week .

Who really knows what they are going to fabricate next , hence i day trade / scalp
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  • #138,311
  • Jun 18, 2009 10:49pm Jun 18, 2009 10:49pm
Quoting malcolmb14
something odd going on ...

sent this chart to my mentor in vsa to see what he thinks .

also saw bullish signs in the ES at 905 on daily with a selling climax.

I have a feeling market is being manipulated right now last few day due to option expiry tomorrow. Monday should show is if we are going to reverse or if trends are going to continue.

Bond yields are rising due to inflation concerns .. what drives inflation is a devaluation of currency . Is usd really strong based on this ? maybe in fact the bullish wedge and the accumulation I am seeing...

4 hour chart, as per your concept

low volume should mean trend reversal if i got it correctly

but the chart tells me, every low volume resulted in selling

so, how does today's low volume say buying
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  • #138,312
  • Jun 18, 2009 10:59pm Jun 18, 2009 10:59pm
looks like there were some good trades today!
  • #138,313
  • Jun 18, 2009 11:03pm Jun 18, 2009 11:03pm
Clearly a descending triangle!

Strong support and resistance on both sides.
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  • #138,314
  • Jun 18, 2009 11:05pm Jun 18, 2009 11:05pm
wow!

Theres plenty of action today, even now!
  • #138,315
  • Jun 18, 2009 11:15pm Jun 18, 2009 11:15pm
Jack, once this pair breaks out either way, can we expect a decent trend for a while?
  • #138,316
  • Jun 18, 2009 11:22pm Jun 18, 2009 11:22pm
Quoting alex1976
Jack, once this pair breaks out either way, can we expect a decent trend for a while?
One would assume yes.
  • #138,317
  • Jun 18, 2009 11:24pm Jun 18, 2009 11:24pm
Quoting forexlion
4 hour chart, as per your concept

low volume should mean trend reversal if i got it correctly

but the chart tells me, every low volume resulted in selling

so, how does today's low volume say buying

look at 4 hour reaction to all high vol down candles
they hit support 6227

this almost looks like re accumulation ... I am still learning on longer time frames and anything could happen . But if I saw this on 15m in I would be taking long , knowing that I am going to make $$$

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  • #138,318
  • Jun 18, 2009 11:35pm Jun 18, 2009 11:35pm
Quoting malcolmb14
look at 4 hour reaction to all high vol down candles
they hit support 6227

this almost looks like re accumulation ... I am still learning on longer time frames and anything could happen . But if I saw this on 15m in I would be taking long , knowing that I am going to make $$$

Attachment
okay, but i trade 4 hour and daily

one of the grand masters of GU i met at marketiva who now owns a shipping business in holland once told me GU is best traded only on 4 hour charts or above, less than that she bites a lot.

his trades were always to the mark, and that surprised me a lot.

anyways, his concept was pretty simple

below day open the trend is bearish, above it is bullish, rest depends on what 4 hour says.

so going by that, below day open i will look to short, but if it does reverse and go above it then i will reconsider my positions.
  • #138,319
  • Jun 18, 2009 11:40pm Jun 18, 2009 11:40pm
Quoting forexlion
okay, but i trade 4 hour and daily

one of the grand masters of GU i met at marketiva who now owns a shipping business in holland once told me GU is best traded only on 4 hour charts or above, less than that she bites a lot.

his trades were always to the mark, and that surprised me a lot.

anyways, his concept was pretty simple

below day open the trend is bearish, above it is bullish, rest depends on what 4 hour says.

so going by that, below day open i will look to short, but if it does reverse and go above it then i will reconsider my...
and going by daily and 4 hour for me the trend is clearly down, so i will try to avoid longs atleast till daily turns.
  • #138,320
  • Jun 18, 2009 11:44pm Jun 18, 2009 11:44pm
Quoting malcolmb14
look at 4 hour reaction to all high vol down candles
they hit support 6227

this almost looks like re accumulation ... I am still learning on longer time frames and anything could happen . But if I saw this on 15m in I would be taking long , knowing that I am going to make $$$

Attachment
and hey i am not god, i can be wrong also
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