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Trade Using VSA (Volume Spread Analysis)

  • #3,661
  • Oct 5, 2009 11:38am Oct 5, 2009 11:38am
MykeFX,

please, post barchart's data picture for today, lets say - GBP/USD 5 min and 15 min, if You can.
I want to compare it with IBFX and someone could put esignal chart also for 5 and 15 tf.

Thanks.

Best,
Tom
  • #3,662
  • Oct 5, 2009 12:00pm Oct 5, 2009 12:00pm
Here are the charts from Barchart, I added a G/J 15 min chart as well.

Cheers,

Mike.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: $GBPUSD 10_5_2009 (5 Min).jpg Size: 104 KB
Click to Enlarge Name: $GBPJPY 10_5_2009 (15 Min).jpg Size: 98 KB
Click to Enlarge Name: $GBPUSD 10_5_2009 (15 Min).jpg Size: 108 KB
  • #3,663
  • Oct 5, 2009 5:52pm Oct 5, 2009 5:52pm
FXCM
GU M5 London
and M15
Attached Image(s) (click to enlarge)
Click to Enlarge Name: g-u m5.jpg Size: 172 KB
Click to Enlarge Name: g-u m15.jpg Size: 153 KB
  • #3,664
  • Oct 6, 2009 1:33am Oct 6, 2009 1:33am
Here are my updated 15 min and 5 min MP charts.

On the 15 min chart, there was plenty of activity around the high vol pivot at 5937 yesterday and I'm surprised that cable has not followed this morning's breakouts in Euro and Swissy - the red resistance zone that I posted yesterday hasnt even been touched....

IMO the 5 min chart shows selling around 5950, 5972 and 5990 in the Asian session - the olive volume.

I'm short off the failure at the 1.6000 level....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: oct 6 cable 15m at fo.gif Size: 19 KB
Click to Enlarge Name: oct 6 cable 5m at fo.gif Size: 20 KB
Trading Levels with WRBs
  • #3,665
  • Oct 6, 2009 2:02am Oct 6, 2009 2:02am
Hello All,
I have been reading this thread for quite some time, and have only recently managed to get through all of it. I follow Islander and other's posts in the pivot points and psych level thread as well. It was Islander's posts that alluded to high volume candles etc at the psych levels that got me interested in this thread.

i find the logic and theory behind it to be probably the most logical in terms of me trying to understand the market over the last few years. I am a scalper by nature and due to personal circumstances. So I am using what I have learnt in this thread to find high probablity entries for scalping. I hope to get some feedback from the veterns of this thread in my analysis below.

Firstly, there is a dark blue (climatic candle) that hits the figure and daily s1, and the candle has a long wick to the upside. I took this as sellers coming into play. So my zone was from 6002 to 5985. Then I started to look for a candle that would indicate to me that sellers are overtaking the buyers, which was indicated by the long up wick candle with the second yellow arrow, coupled with a volume bar that was higher than previous 2 bars. My analysis was that previous candle down, low volume, next candle up, but with long upwick, with volume greater than previous down candle, meaning sellers are taking out all the buyers. I actually entered at the break of the low of this candle, around 84, and my original target was 50 level. But the thick white line is the 60ema, and old habits die hard, so I exited there for about 15pips.

In hindsight, I could have resold the 85 level, and again taken another 15-20pips.

Two specific questions I have are these:
1. Is my analysis correct?
2. Should I have been targeting the 64 area, which was the low of the previous climatic candle around 5.30 in the pic?

Thanks in advance.
Regards,
K.
Attached Image (click to enlarge)
Click to Enlarge Name: gu vsa trial.jpg Size: 207 KB
  • #3,666
  • Oct 6, 2009 2:25am Oct 6, 2009 2:25am
Quoting Islander
Here are my updated 15 min and 5 min MP charts.

On the 15 min chart, there was plenty of activity around the high vol pivot at 5937 yesterday and I'm surprised that cable has not followed this morning's breakouts in Euro and Swissy - the red resistance zone that I posted yesterday hasnt even been touched....

IMO the 5 min chart shows selling around 5950, 5972 and 5990 in the Asian session - the olive volume.

I'm short off the failure at the 1.6000 level....
I exited this trade around the 5975 level as buyers came in during the last 15 mins of Frankies Hour - I then went long.....now to see if we get a breakout - news in half an hour....
Trading Levels with WRBs
  • #3,667
  • Oct 6, 2009 2:32am Oct 6, 2009 2:32am
Hi guys, can someone confirm this analysis is on the right track? Red arrow looked like a good no-demand to me until the last few minutes of the bar (M15) where lots of volume came in.

EDIT: Woah it didn't save my text labels correctly at all. I had triangle as accumulation, rectangle as markup, can't even see the label that says upthrust.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 19 KB
  • #3,668
  • Oct 6, 2009 3:12am Oct 6, 2009 3:12am
Come on guys, a bit of help for the newbies!

Think I am getting the hang of it?

Some examples I have been watching:

No demand E/J and low volume test of the lows with doji G/C. Please comment!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej.gif Size: 21 KB
Click to Enlarge Name: gc.gif Size: 20 KB
  • #3,669
  • Oct 6, 2009 3:25am Oct 6, 2009 3:25am
Quoting sinner-
Come on guys, a bit of help for the newbies!

Think I am getting the hang of it?

Some examples I have been watching:

No demand E/J and low volume test of the lows with doji G/C. Please comment!
LOL - you need a patience pill - it takes time and effort to post whilst trading - to then work out and answer questions takes even more time .....I'll try when I get back in a few hours.....
Trading Levels with WRBs
  • #3,670
  • Oct 6, 2009 3:46am Oct 6, 2009 3:46am
Quoting sinner-
Come on guys, a bit of help for the newbies!

Think I am getting the hang of it?

Some examples I have been watching:

No demand E/J and low volume test of the lows with doji G/C. Please comment!
how about reading the books which already have been mentioned 312 times and then watching charts thousands of hours?

or wait, i will help you and trade my acc and you will receive the profits.
  • #3,671
  • Oct 6, 2009 3:54am Oct 6, 2009 3:54am
Quoting sinner-
Come on guys, a bit of help for the newbies!

Think I am getting the hang of it?

Some examples I have been watching:

No demand E/J and low volume test of the lows with doji G/C. Please comment!
compare the "low volume test" of the 15m relatively to the previous bars (not nly the last few with volume surge..) and you will see that it isn't that low...

need to drill down here to lower tf to see whats going on.
  • #3,672
  • Edited 5:06am Oct 6, 2009 4:44am | Edited 5:06am
A good no demand bar not only has volume lower than the previous 2 bars but should not only be lower than the average line but very low. When you see a nd bar that has considerable volume in it -like this one- it shows a level of demand still exists and is evidenced by further upside movement after this bar. The signal to short is was the top reversal which followed 4 bars (and 50 pips up) later.

Good luck...
TJ

P.S. I'm not sure if you realize it but you mention ej in your post while the chart is of gj ej and also gc.

Quoting sinner-
Come on guys, a bit of help for the newbies!

Think I am getting the hang of it?

Some examples I have been watching:

No demand E/J and low volume test of the lows with doji G/C. Please comment!
Charts never lie! (everyone else does) ... now where's that FF Adult lounge
  • #3,673
  • Oct 6, 2009 6:53am Oct 6, 2009 6:53am
Quoting sinner-
Come on guys, a bit of help for the newbies!
...
if no one is replying to your post, know & understand that some/many here are traders too: we trade, we learn, we sleep, we go out, have families/relatives too.
when no one is replying to your post, it's a good time to read up on the topic, learn more, try to look for the answer yourself, while u try & wait for replies to your post.

just a suggestion
  • #3,674
  • Oct 6, 2009 6:55am Oct 6, 2009 6:55am
Hi all,

here is the recent nice GU move to study. I am sure some profited nicely on this.
The move had 2 steps and I missed the first entry opportunity. No problem, as you know there are many chances on this market to make money. Even more to loose. Nevertheless I like to trade this cable, it gives all you want if you pay respectful attention to her.

As always, please disregard my position (it is demo actually) and have attention on the chart.

We got close to a previous top and a nice UT on the 5m presents itself for us to note. On 15m the picture is not that text book but we can see what was going on. I was actually hesitating to pull the trigger - oh well, so what?

You can see how one can fall asleep and look the nice ND bar on 5m! It has a weird lower shadow which I saw developing and it was actually just appeared there, the price did not even get there but no matter.

Note that in this set up there was no least risk entry on 15m. An aggressive entry could have been after the not so nice but still UT. This could have been just as good considering the price one we are talking about - previous Top.

After that the collapse. The Volume is very high but the close is off the lows and the market is not really going up after. Of course, we anticipata a consolidation somewhere after this thing.

At the lower shaded zone we see the rest of the market. Profit taking, some aggressive buyers, SL triggers, whatever, SM for sure. The price action is slow at this stage but not curving up. It is re-distribution. The Gold line is the London Open on my charts. Once that gets broken down on this heavy action it acts as a potential resistance.
A ND on 15m and some ND looking action on 5m and there she goes off again. Once the move started the market offers another ND on 5m which I did not indicate, I am sure you find it.

I primarily like to trade the 15m, but it seems that once the action is established the 5m TF also can offer entries. I specifically experienced this in aggressive down moves where the 15m and 30m is just a massive big red bar or two.


Comments, critics welcome.

Attached Image (click to enlarge)
Click to Enlarge Name: VSA_186.gif Size: 48 KB
Kind Regards zol
  • #3,675
  • Oct 6, 2009 7:38am Oct 6, 2009 7:38am
My updated market profile chart

I've now closed all of my shorts waiting for the retrace.

I'll be looking to sell from the dotted gold todays open level at 5928, or better still in the fibo decision zone from 5938 to 5980......the confluence of the 650 level, high vol pivot and 50% level would be my choice.....Time Will Tell
Attached Image (click to enlarge)
Click to Enlarge Name: oct 6 cable 5m 1230 gmt.gif Size: 21 KB
Trading Levels with WRBs
  • #3,676
  • Edited 8:28am Oct 6, 2009 7:38am | Edited 8:28am
Hello,
here is chart attached.

DR Gep., HiddenGap, Malcom and maybe some other PRO could take a look and say - what is the things, which would say - DO NOT GO LONG.

Because, as soon as i see such climatic bars - I am looking only longs..

EDITED: Ofcourse, i am not looking to go long immediately after such climatic bar. Just trying to find some clues after that like Tests, etc. and then go long.

EDITED: I am sure many are with me on this question.

Thank You.

Best,
Tom
Attached Image (click to enlarge)
Click to Enlarge Name: q 2.png Size: 112 KB
  • #3,677
  • Oct 6, 2009 7:44am Oct 6, 2009 7:44am
Quoting tfflyer
Hello,
here is chart attached.

DR Gep., HiddenGap, Malcom and maybe some other PRO could take a look and say - what is the things, which would say - DO NOT GO LONG.

Because, as soon as i see such climatic bars - I am looking only longs..

Thank You.

Best,
Tom
hi my friend tfflyer.
its very good question.
Im with you in the same track.
  • #3,678
  • Edited 7:54am Oct 6, 2009 7:44am | Edited 7:54am
Quoting Islander
My updated market profile chart

I've now closed all of my shorts waiting for the retrace.

I'll be looking to sell from the dotted gold todays open level at 5928, or better still in the fibo decision zone from 5938 to 5980......the confluence of the 650 level, high vol pivot and 50% level would be my choice.....Time Will Tell
First resell actually off the green MS1 level at 5915

Edit: Exited when it failed to break the red S1 level....
Trading Levels with WRBs
  • #3,679
  • Oct 6, 2009 7:49am Oct 6, 2009 7:49am
Quoting tfflyer
Hello,
here is chart attached.

DR Gep., HiddenGap, Malcom and maybe some other PRO could take a look and say - what is the things, which would say - DO NOT GO LONG.

Because, as soon as i see such climatic bars - I am looking only longs..

Thank You.

Best,
Tom
i cannot see one strong bar here and therefore the so called climactic bar has proven to be mainly profittaking imho.
just seeing such a bar and then go long? sure way to go broke...i see upthrusts/pinbars and no demands following this potential "climactic" bar showing that market is weak. it is just logical that we see high volume when coming to a support/resistance level, since people begin to take profits or initiate trades. we then have to do our homework.
  • #3,680
  • Edited 8:27am Oct 6, 2009 8:02am | Edited 8:27am
Strong bars - Could You tell more about - what would be strong bars in such situation like hear, what would change Your thinking about longs - Up bars on MUCH increased volume, etc ?

Ofcourse, i am not looking to go long immediately after such climatic bar. Just trying to find some clues after that like Tests, etc.

About ND - I tough that after such climatic bars we are not looking ND.

Ok,
thanks for comments Dr.Gep.

Best,
Tom
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