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Cable Update (GBPUSD)

  • #145,341
  • Jul 11, 2009 4:41pm Jul 11, 2009 4:41pm
Quoting malcolmb14
there seems to be alot of buyers in the 16180 zone on 2 hour... right on the 50 sma. you maybe right on an up move into 6400

have to see how the s&p plays out monday

Attachment
Trading with an open mind on this one Malcolm.
Hero Traders Live to see their Accounts Die!
  • #145,342
  • Jul 11, 2009 5:31pm Jul 11, 2009 5:31pm
Quoting albchr
I've been watching this discussion between malcolmb and others unfold for a while now. Now first I'll say that 1) I'm a new trader with MUCH to learn, 2) I know NOTHING about VSA (but would like to) as the "logic" behind it seems sound to my way of thinking, 3) I'm just a humble old carpenter but have a knack for seeing things in people that others "may" not.

In my time here at FF I've seen a lot, and I mean a LOT of folks coming in here and asking/wondering, where will price go today, the next 8 hours, the next 4, 1 hours, the next 15 minutes?...LOL...
Albchr,
I have learned more from watching Malcolmb than anyone else. I put him on my daily "To Do List". Search Malcolmb's post. I hope he doesn't stop. I am also fairly new. I started 4 years ago and traded for 1 year, then came back about 3 months ago. I am reading everything I can get my hands on. I would also like to say thanks to him.
Thanks
  • #145,343
  • Jul 11, 2009 5:39pm Jul 11, 2009 5:39pm
Ditto, he makes sense out of VSA which is more like a vodoo art if you dont know what you are talking aboot

Quoting deyler
Albchr,
I have learned more from watching Malcolmb than anyone else. I put him on my daily "To Do List". Search Malcolmb's post. I hope he doesn't stop. I am also fairly new. I started 4 years ago and traded for 1 year, then came back about 3 months ago. I am reading everything I can get my hands on. I would also like to say thanks to him.
Thanks
Its all in the mind.
  • #145,344
  • Jul 11, 2009 6:10pm Jul 11, 2009 6:10pm
Quoting 5abi
Ditto, he makes sense out of VSA which is more like a vodoo art if you dont know what you are talking aboot
rofl ... laughing hard at this one.

once you get into it it makes perfect sense. !!! lol

take this 2 hour .

the high volume at around 6200 could be
1) buyers as we saw no move down form there. and it is on support level and we will see result Monday
2)or buyers and the sellers absorbed them

oh shit did any one see this news ?

http://www.bloomberg.com/apps/news?p...d=aHOrbEKeCVzk
Blogging daily now at www.volume.zone
  • #145,345
  • Jul 11, 2009 6:27pm Jul 11, 2009 6:27pm
Quoting malcolmb14
rofl ... laughing hard at this one.

once you get into it it makes perfect sense. !!! lol

take this 2 hour .

the high volume at around 6200 could be
1) buyers as we saw no move down form there. and it is on support level and we will see result Monday
2)or buyers and the sellers absorbed them

oh shit did any one see this news ?

http://www.bloomberg.com/apps/news?p...d=aHOrbEKeCVzk

Finally going to stop bailing the buggers out and let them suffer from there mistakes!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #145,346
  • Jul 11, 2009 6:34pm Jul 11, 2009 6:34pm
Malcolm, where do you get your Charts with Volume from and whats the cost ??

Real volume would sure help!!


Can they do 20second charts to ??? to improve the accuracy of my really short SMA's.

Thanks.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #145,347
  • Jul 11, 2009 6:35pm Jul 11, 2009 6:35pm
Esignal bottom left!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #145,348
  • Jul 11, 2009 6:38pm Jul 11, 2009 6:38pm
I would like that but I have too many questions, is it delayed volume, or a live volume, how hard is it to set up, can I use it just for charting purposes only yada yada yada.

I went to their website and made my mind about buying it but they have a myriad of products and very confusing how to set it up and all

Quoting Turveyd
Esignal bottom left!!!
Its all in the mind.
  • #145,349
  • Jul 11, 2009 6:44pm Jul 11, 2009 6:44pm
sure it does as I have seen you make some good calls based off this volume info

CIT news is bad for the equities. But I guess it has been factored in already as they had downgraded this to JUNK Grade stock.

Quoting malcolmb14
rofl ... laughing hard at this one.

once you get into it it makes perfect sense. !!! lol
take this 2 hour .

the high volume at around 6200 could be
1) buyers as we saw no move down form there. and it is on support level and we will see result Monday
2)or buyers and the sellers absorbed them

oh shit did any one see this news ?

http://www.bloomberg.com/apps/news?p...d=aHOrbEKeCVzk
Its all in the mind.
  • #145,350
  • Jul 11, 2009 6:44pm Jul 11, 2009 6:44pm
Quoting 5abi
I would like that but I have too many questions, is it delayed volume, or a live volume, how hard is it to set up, can I use it just for charting purposes only yada yada yada.

I went to their website and made my mind about buying it but they have a myriad of products and very confusing how to set it up and all

Just the straight E-signal, should be all live data, says Market Depth aswell, so you can see the ECN ( Real trades ) orders and help you gauge support and resistance, although back with Stocks it was never that useful as they play games with that to and hide orders Or offer up huge support then cancel the orders just before there about to get hit

Alot of money each month though for me, I'll do a 30day trial and see if Volume does make the difference.


I miss volume from when I used to day trade stocks was useful.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #145,351
  • Jul 11, 2009 6:46pm Jul 11, 2009 6:46pm
I am not sure if they proivde real time volume info with the free trial version, their big seller seem to be the PRO product that costs 175 dollar a month.

That is not much and can be made up from one good trade. In the end it all boils down to if it helps you see things the other small retail traders cannot see.

Quoting Turveyd
Just the straight E-signal, should be all live data, says Market Depth aswell, so you can see the ECN ( Real trades ) orders and help you gauge support and resistance, although back with Stocks it was never that useful as they play games with that to and hide orders Or offer up huge support then cancel the orders just before there about to get hit

Alot of money each month though for me, I'll do a 30day trial and see if Volume does make the difference.


I miss volume from when I used to day trade stocks was useful.
Its all in the mind.
  • #145,352
  • Jul 11, 2009 6:54pm Jul 11, 2009 6:54pm
Quoting 5abi
I am not sure if they proivde real time volume info with the free trial version, their big seller seem to be the PRO product that costs 175 dollar a month.

That is not much and can be made up from one good trade. In the end it all boils down to if it helps you see things the other small retail traders cannot see.

Sadly, I'm not trading at that level, but plan for the future and all!!

I'd miss the ability to write my own EA/Indicators to bleep when my criteria is met.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #145,353
  • Jul 11, 2009 7:08pm Jul 11, 2009 7:08pm
just wanted to share my view (interpretation of volume) on GBP futures - malcolmb constructive criticism would be welcomed.

Candle 1 - if you dont see candles that follow candle 1 has very excessive volume and closing price was below opening price meaning that sellers were hitting the market.

candle 2 - even though closing price is above opening the volume on that candle is even higher and price failed to go higher that on previous bar meaning that sellers are still there keeping the price from rising.


then the next 2 candles still fail to go higher than candle 1 , more likely sellers and then we come to

candle 3 - which is a doji on small volume.... read below

now here is an extract from VSA articles (although the direction of the move is opposite same principles apply) - At the bottom (top in this case) of a market, a Wyckoff technician is looking for tests of supply (demand) in the market. A test occurs when the price is marked down(up) to see if greater volume comes in at the lower (higher) price. If it does, this signifies supply (demand...you get the point) is in the market. This supply must be removed before the market can begin any substantial up move. However, if the market is marked down and no sellers emerge at these lower prices, the price will come back up to close off the low, volume is lower relative to the prior candles. With no supply present at the current price level, the price should rise(FALL).




and in the 2nd chart (monthly) we see that there was the highest volume in 4 years and price didnt go too far which reinforces weekly bearish outlook. given the level of volume we should see some rapid fall at some point, well thats my interpretation of the situation at the moment.
Attached Image(s) (click to enlarge)
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  • #145,354
  • Jul 11, 2009 7:12pm Jul 11, 2009 7:12pm
Quoting lexazver
just wanted to share my view (interpretation of volume) on GBP futures - malcolmb constructive criticism would be...
rapid fall coming ....1.3 and maybe 1.1
Blogging daily now at www.volume.zone
  • #145,355
  • Jul 11, 2009 7:17pm Jul 11, 2009 7:17pm
Quoting malcolmb14
rapid fall coming ....1.3 and maybe 1.1
damn man you are fast i try to stay away from computer during the weekends but i find myself back staring at the charts.
  • #145,356
  • Jul 11, 2009 7:21pm Jul 11, 2009 7:21pm
Malcolmb14, I bet you a schooner (Aussie slang for a beer) that price favors the upside this Monday. Just a friendly gentleman's handshake over a beer my friend.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #145,357
  • Jul 11, 2009 7:32pm Jul 11, 2009 7:32pm
I always thought Fosters was Australian for beer lol and paid a premium to buy that but only realized recently that it is brewed here locally and is no import and Australians wont even consider it Australian

BTW I am PLAN to be long AUSSIE-DOLLAR http://www.forexfactory.com/showpost...ostcount=12993

Quoting Bull_Bear
Malcolmb14, I bet you a schooner (Aussie slang for a beer) that price favors the upside this Monday. Just a friendly gentleman's handshake over a beer my friend.
Its all in the mind.
  • #145,358
  • Jul 11, 2009 7:33pm Jul 11, 2009 7:33pm
just another little observation

just a coincindence?? hmm.
Attached Image (click to enlarge)
Click to Enlarge Name: interesting coincindence.jpg Size: 96 KB
  • #145,359
  • Jul 11, 2009 8:02pm Jul 11, 2009 8:02pm
No sweats, you shall be there if you are persistent enough. Hey man how is your chop monster treating you lately?

See I have modified my scalp method, it is attached, with the template, check it out, I use it only on EY, GU, GY 15 MIN TF, I know you are a 1M guy, it can be used on that TF too.

I have also PM you this. Rules are pretty simple, BB with 2 STD, 3 EMA (5,10,15) and a xpMA with 21. Trade only with the 21 xpMA, only when there is clear demarcation between the 3 Moving averages and the BB MA aligns in same direction. Stops are always 30 pips. T/P varies really, I even close at 10 pips if feels wrong or price line touches the 10 EMA.

Quoting Turveyd
Sadly, I'm not trading at that level, but plan for the future and all!!

I'd miss the ability to write my own EA/Indicators to bleep when my criteria is met.
Attached Image (click to enlarge)
Click to Enlarge Name: 15.gif Size: 23 KB
Attached File(s)
File Type: tpl Harry-SCALP.TPL   13 KB | 349 downloads
Its all in the mind.
  • #145,360
  • Jul 11, 2009 9:27pm Jul 11, 2009 9:27pm
Quoting Bull_Bear
Malcolmb14, I bet you a schooner (Aussie slang for a beer) that price favors the upside this Monday. Just a friendly gentleman's handshake over a beer my friend.
Monday thru US session ? you are on ......
Blogging daily now at www.volume.zone
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