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Trade Using VSA (Volume Spread Analysis)

  • #2,801
  • Aug 18, 2009 2:22am Aug 18, 2009 2:22am
Another 15 min candle has closed - a high vol doji, with a new high - by 7 pips! - and its close again was back under the 6400 level....I guess you're getting the picture.....a break back under the DP will confirm....remember the UK CPI data is due in just over an hour.....
Trading Levels with WRBs
  • #2,802
  • Aug 18, 2009 2:26am Aug 18, 2009 2:26am
Quoting HiddenGap
No. Don't tell me that.

I use Visual Trader thru CMS just for the platform. There are some good coders on this thread, so I might finally be able to make the leap to MetaTrader. MB trading has it.

Sorry - here's my ODL chart.....

Edit: whoops - wrong chart......I got my threads mixed up......
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Trading Levels with WRBs
  • #2,803
  • Aug 18, 2009 2:50am Aug 18, 2009 2:50am
Quoting Islander
Sorry - here's my ODL chart.....

Edit: whoops - wrong chart......I got my threads mixed up......
Good trades off 1 min. I saw the buying in the upmove within the 5 min chart & wasnt sure of reason. Unlike you I wasnt sharp enough to trade it.

Good point about news item. Elephants may be preparing for the news.
  • #2,804
  • Aug 18, 2009 2:52am Aug 18, 2009 2:52am
I banked my pips when price stalled at the 30 ema / DP and have now shorted again after the last spike up into a lower High with tweezers / rail road tracks on the 1 min chart....small size in front of the UK data....
Trading Levels with WRBs
  • #2,805
  • Aug 18, 2009 3:04am Aug 18, 2009 3:04am
Quoting Islander
I banked my pips when price stalled at the 30 ema / DP and have now shorted again after the last spike up into a lower High with tweezers / rail road tracks on the 1 min chart....small size in front of the UK data....
Where is your DP? I suspect my settings are different, having changed indicator yesterday. Are you set at GMT-2?
  • #2,806
  • Aug 18, 2009 3:17am Aug 18, 2009 3:17am
Quoting Barry Cade
Where is your DP? I suspect my settings are different, having changed indicator yesterday. Are you set at GMT-2?

My ODL chart runs on GMT and my "Dest Time Zone" is set to 3.......charts NOT on GMT need a different DTZ setting.....

My DTZ setting is set so that my pivots are calculated at the 5pm EDT close as per the work by The Dove Alliance a couple of summers ago....
Trading Levels with WRBs
  • #2,807
  • Aug 18, 2009 3:37am Aug 18, 2009 3:37am
Quoting Islander
My ODL chart runs on GMT and my "Dest Time Zone" is set to 3.......charts NOT on GMT need a different DTZ setting.....

My DTZ setting is set so that my pivots are calculated at the 5pm EDT close as per the work by The Dove Alliance a couple of summers ago....

Thx. However, I dont understand why the DTZ is 3 hours different. I would have thought it was 2 at this time of year?
  • #2,808
  • Aug 18, 2009 3:46am Aug 18, 2009 3:46am
Quoting Barry Cade
Thx. However, I dont understand why the DTZ is 3 hours different. I would have thought it was 2 at this time of year?
The DZT is 3 hours back from 00:00 GMT to give the 5pm EDT close....the Local TZ is 0
Trading Levels with WRBs
  • #2,809
  • Aug 18, 2009 3:51am Aug 18, 2009 3:51am
Quoting Islander
The DZT is 3 hours back from 00:00 GMT to give the 5pm EDT close....the Local TZ is 0
thx m8
  • #2,810
  • Aug 18, 2009 4:54am Aug 18, 2009 4:54am
Thanks Shamus (or should I say Burt Reynolds look alike) for enlightening us all. I had never thought of the pro's basically doing the opposite to us retail guys.
This has thrown a bit of a curve for me as recently I have felt that I had a good understanding of supply and demand based on levels of S/R formed by the big dogs and either buying a pullback in an uptrend or selling a retracement in a downtrend to the next S/R level to the left? I had not given any thought to reading the candles like you do not to mention volume which as previous posts have stated is unreliable in forex which I trade. However I will rad the book mentioned and then maybe get back to you with a few questions if you don't mind.

Cheers
Rob
  • #2,811
  • Aug 18, 2009 9:50am Aug 18, 2009 9:50am
Hi HiddenGap,
could You please take a look on todays Gbp/usd 5 MIN chart and make comments ?

Thank You.

Best,
Tom
  • #2,812
  • Aug 18, 2009 11:06am Aug 18, 2009 11:06am
Hey, I woke up this morning and noticed this move. Can anyone tell me why this continued up when it showed the signs that it should move down (assuming I know VSA, which I really don't) ?

http://img27.imageshack.us/img27/1202/86667618.jpg

Just trying to learn.

Thanks.
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  • #2,813
  • Aug 18, 2009 11:40am Aug 18, 2009 11:40am
Quoting Shoehorn
Hey, I woke up this morning and noticed this move. Can anyone tell me why this continued up when it showed the signs that it ..........

Thanks.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
HI Shoehorn
first you see the back ground in the chart
there shows buyer in the back ground and there is no significant resistent in the chart left
in A.vol is an upthrust with high vol and b is is a low vol upthrust
yes.they are weakness signals.
but look at C.this down bar 's vol is low with small down bar (no selling pressure)
and D .up bar with increasing vol eat up the down bar C before.
price not really want to come down yet.buyer still in the market.
and if you took short on E(no demand bar)
when price back down shows low vol test.(support line)
this is not good sign for short .
hope this help a little bit
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  • #2,814
  • Aug 18, 2009 11:43am Aug 18, 2009 11:43am
Look to the left of the chart (background) and your S/R lines, if there is nothing there, its a good chance it will keep moving up.
  • #2,815
  • Aug 18, 2009 11:49am Aug 18, 2009 11:49am
Hey thanks for the reply.

Lets say that you were watching this chart as it was happening, is there anything specific that would tell you to go short as BAR A was drawing?

For example, say you waited until BAR B started drawing and volume was only 2/3 what it is on that chart, would that tell you to get into it, or is there more happening there that you would take into consideration?



Quoting Adamthoery
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
HI Shoehorn
first you see the back ground in the chart
there shows buyer in the back ground and there is no significant resistent in the chart left
in A.vol is an upthrust with high vol and b is is a low vol upthrust
yes.they are weakness signals.
but look at C.this down bar 's vol is low with small down bar (no selling pressure)
and D .up bar with increasing vol eat up the down bar C before.
price not really want to come down yet.buyer still in the market.
and if you took short on E(no...
  • #2,816
  • Aug 18, 2009 11:50am Aug 18, 2009 11:50am
Quoting bowldog
Look to the left of the chart (background) and your S/R lines, if there is nothing there, its a good chance it will keep moving up.
S/R = strength/resistance?
  • #2,817
  • Aug 18, 2009 3:28pm Aug 18, 2009 3:28pm
Quoting Shoehorn
S/R = strength/resistance?
S/R = Support/Resistance
  • #2,818
  • Edited 4:52pm Aug 18, 2009 4:40pm | Edited 4:52pm
Hey guys,

Volumes LOW all night in the AUDUSD. Usually focus on the EURUSD but this pair seems to be moving with the most gusto during asia lately.

No compelling VSA setups really... but thought i would post a chart anyway. Short off resistance zone of 8270/90.

Decreasing volumes as price drifted higher to the zone I have had highlighted over the last 2 days. Note Longer tern trendline coming through. Confluence highlighted green/blue.

30min No Demand bar shown by the arrow... i dont reckon there is much chance of price punching through to the upside. Question: Volumes are ALWAYS shitty at this time of the trading day... should I be giving the same weight to Volume Spread Analysis such as the 30min no demand bar i'm taking htis trade off of??

Cheers,
MM

EDIT - will be taking half off the table at yesterdays high volume pivot around 8245. and targeting 8220 on the remainder.
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"If it bleeds ... we can kill it"
  • #2,819
  • Aug 18, 2009 4:55pm Aug 18, 2009 4:55pm
In the beginning of the thread it was highly suggested to read "Master the Markets", I called around and checked Amazon and Ebay and no place has this book in stock. Is it out of print, or just hard to come by?
  • #2,820
  • Aug 18, 2009 5:07pm Aug 18, 2009 5:07pm
Ok, again... posting this in an effort to gain some constructive critisicm whether the trade plays out favourably or not.

We have just had 2 5min upthrusts on the most significant volume we have seen in a while. I was contemplating cutting the trade if i got a bar closing on its highs... however this will keep me in the position, looking for lower lows.
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"If it bleeds ... we can kill it"
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