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vsa with Malcolm

  • #1,701
  • Jul 28, 2010 3:57am Jul 28, 2010 3:57am
Quoting polomine
Hi, mima

I don't use rsx simply because I have no idea about it. Could you explain it for me and attach one rsx indicator in this thread? So, after I coded up an indicator for hull, I could do the same thing for rsx.

cheers,
Polomine, Thanks a lot
Here they are...I think both indicators RSX and MA_of_RSX need to be in the folder but only
MA_of_RSX goes to chart...whenever cross happened to give an alert...alert on/off
Attached File(s)
File Type: ex4 MA_of_RSX.ex4   5 KB | 432 downloads
File Type: mq4 MA_of_RSX.mq4   4 KB | 460 downloads
File Type: ex4 RSX.ex4   4 KB | 451 downloads
File Type: mq4 RSX.mq4   2 KB | 468 downloads
The Market pays you to be disciplined
  • #1,702
  • Jul 28, 2010 5:07am Jul 28, 2010 5:07am
Hi Guys,

I would like to post a chart of the eurjpy to see if I am understanding everything or not.

This is a 5 min Eur jpy chart

1) We have an effort to fall with the next candle up
2) 2 succesfull tests on the 5 min and also one on the 15 min TF
3)Trend line break
4) The hull turned green

To me this showed me strenght.... ?

I did not took this trade because I was not sure. However after that we had a succesfull no demand (on the 5 min TF) and the hull turned red too.

So was it just a false break out? or did I misunderstood the bars?
Pleas Malcolm, HG or Intel, could someone comment on this.

Thanks,
@mel
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy 5 min.gif Size: 15 KB
  • #1,703
  • Jul 28, 2010 6:04am Jul 28, 2010 6:04am
From my very limited experience, I'd say that trying to draw meaningful conclusions on a timeframe as short as 5 min is very difficult. Of course Hidden Gap would probably disagree, but he's a lot better at this than I am.

Have a look at a 15 min chart covering the same period. It would show you that the trendline you drew isn't actually based on very much. It would also show background weakness with two upthrust type bars in succession, followed by a period of ranging/consolidation. When price does start to try to rise, we quite quickly see a "no demand" on very low volume, followed by a key reversal bar.
Attached Image (click to enlarge)
Click to Enlarge Name: ej 2807.gif Size: 23 KB
  • #1,704
  • Jul 28, 2010 7:27am Jul 28, 2010 7:27am
Does anyone else see that as a long opurtunity?
Attached Image
  • #1,705
  • Jul 28, 2010 7:56am Jul 28, 2010 7:56am
First, thanks Ronlizard for your reply.

I have studdyed this 15 min chart and I think I understand a bit more why the market didn't go up.

I agree with Ronlizard for the 1ste upthrust.

1) Upthrust
2) This bar showed that supply came in (I think)
3) Succesfull No demand bar

This is a good lesson for me! I should always check higher TF before making conclusions.

Have a nice day,
@mel


Quoting @mel
Hi Guys,

I would like to post a chart of the eurjpy to see if I am understanding everything or not.

This is a 5 min Eur jpy chart

1) We have an effort to fall with the next candle up
2) 2 succesfull tests on the 5 min and also one on the 15 min TF
3)Trend line break
4) The hull turned green

To me this showed me strenght.... ?

I did not took this trade because I was not sure. However after that we had a succesfull no demand (on the 5 min TF) and the hull turned red too.

So was it just a false break out? or did I misunderstood the bars?
Pleas...
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy15min.gif Size: 17 KB
  • #1,706
  • Jul 28, 2010 8:08am Jul 28, 2010 8:08am
These things are always a lot easier in hindsight but that key reversal bar I highlighted is also a bearish engulfing candle which is a strong sign of weakness. I suppose ideally you'd like to see another "no demand" after it, but an entry at the close of the KRB would have given a very nice short trade.
  • #1,707
  • Jul 28, 2010 8:19am Jul 28, 2010 8:19am
Quoting f451
I missed this one because I didn't see a confirmation no supply or test

Later I looked a the 5min chart and saw enough confirmation that I would have gone in if I'd been watching 5min then

Malcolm do you ever take trades without a confirmation bar (test, no supply for long, no demand for short) just on the hull changing?

cheers
f451
that down move before the up move , if you look at a 60 min was a wide spread down bar with uhigh vol closing on lows with next bar up , stopping vol

Attached Image (click to enlarge)
Click to Enlarge Name: chart2547.png Size: 232 KB
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  • #1,708
  • Jul 28, 2010 8:21am Jul 28, 2010 8:21am
Quoting Sonofsin5
Everybody is too confident in a USD drop which makes me a bit nervous. There is always the chance we see a sell off on the Eur. I'd rather wait untill the market tells me and piggy back my way up or down. Either way fits me fine.

I am pretty bullish on breakouts both eu and gu however the markets have been acting odd last few days ( since monday) .... there is a ton of supply to absrob.

gu is holding the 5600 area still , thinking 5700 to 5800 test
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  • #1,709
  • Jul 28, 2010 8:41am Jul 28, 2010 8:41am
is it just me or is the market pa really odd this week ? both in the fx and indexes ? has anyone else noticed the low range choppy pa.

this is possibly due to to eu , gu and es being in major resistance areas.
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  • #1,710
  • Jul 28, 2010 8:59am Jul 28, 2010 8:59am
Quoting malcolmb14
is it just me or is the market pa really odd this week ? both in the fx and indexes ? has anyone else noticed the low range choppy pa.

this is possibly due to to eu , gu and es being in major resistance areas.

Yes I see the same thing and with all the confidence on the street of a USD decline and the S&P hitting new highs, I am extremely carefull. Somebody is pre positioning for a move thats for sure and when you combine that with summer liquidity you have a nast situation brewing.
  • #1,711
  • Jul 28, 2010 9:11am Jul 28, 2010 9:11am
Quoting Sonofsin5
Yes I see the same thing and with all the confidence on the street of a USD decline and the S&P hitting new highs, I am extremely carefull. Somebody is pre positioning for a move thats for sure and when you combine that with summer liquidity you have a nast situation brewing.

I think you're right. Consider this, as Mal says we have a good resistance just above. It would be quite easy to mark prices down from this level. But much more difficult to push through such a level. However, SM are doing a lot of 'messing around' and preparing for some thing.

Preparing to do something which is easy.......I doubt it. More like preparing to do something which is difficult to do.

But then I'm useless at judging what the market will do
  • #1,712
  • Jul 28, 2010 9:46am Jul 28, 2010 9:46am
Quoting @mel
First, thanks Ronlizard for your reply.

I have studdyed this 15 min chart and I think I understand a bit more why the market didn't go up.

I agree with Ronlizard for the 1ste upthrust.

1) Upthrust
2) This bar showed that supply came in (I think)
3) Succesfull No demand bar

This is a good lesson for me! I should always check higher TF before making conclusions.

Have a nice day,
@mel
Just a couple of notes

1. The UT you have indicated is not an up thrust. An UT should close near the low. Check out the previous bar, that is an UT. Also, you have your UT making a higher high than 'My UT' bar, on my chart it does not. Nor does it on Rons chart.

2. The KRB. I'm not sure this is a KRB. My chart shows it opening at 114.580 whilst the prev bars close was 114.577. OK there is a difference but, 0.3 of a pip really isn't much and I don't think it qualifies. There are many bars which show this trait. Maybe HG can help here.

3. The ND you have marked is technically a ND but, I would just like to point out (for traders who are learning to spot these) that a good quality ND will close in the middle or on the low.
  • #1,713
  • Jul 28, 2010 10:04am Jul 28, 2010 10:04am
Quoting @mel
Hi Guys,

I would like to post a chart of the eurjpy to see if I am understanding everything or not.

This is a 5 min Eur jpy chart

1) We have an effort to fall with the next candle up
2) 2 succesfull tests on the 5 min and also one on the 15 min TF
3)Trend line break
4) The hull turned green

To me this showed me strenght.... ?

I did not took this trade because I was not sure. However after that we had a succesfull no demand (on the 5 min TF) and the hull turned red too.

So was it just a false break out? or did I misunderstood the bars?
Pleas...
Once the down move has started, look for a ND during a retrace for your entry. You can find one on your chart 3 bars from the left. A break of the low of this bar is a quality entry point. Don't worry about the part of the move you missed, concentrate on the part you are getting.
  • #1,714
  • Jul 28, 2010 10:18am Jul 28, 2010 10:18am
Quoting malcolmb14
I am pretty bullish on breakouts both eu and gu however the markets have been acting odd last few days ( since monday) .... there is a ton of supply to absrob.

gu is holding the 5600 area still , thinking 5700 to 5800 test
EU H1

Since the push up at 1600 GMT a couple of days back, it looks like accumulation to me. What do you think?
  • #1,715
  • Jul 28, 2010 10:28am Jul 28, 2010 10:28am
seems there is supply in this area to be expected on the 60

1.5600 support , this breaks target 1.5550 support and see if the buyers come in

Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 195 KB
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  • #1,716
  • Jul 28, 2010 10:30am Jul 28, 2010 10:30am
we could be at a turning point?

would seem more apropriate at 31 or 32 something levels but, as malcom says, sm does what it wants...

Quoting Intel
EU H1

Since the push up at 1600 GMT a couple of days back, it looks like accumulation to me. What do you think?
dreams do come true.
  • #1,717
  • Jul 28, 2010 10:40am Jul 28, 2010 10:40am
Quoting wannaberich
we could be at a turning point?

would seem more apropriate at 31 or 32 something levels but, as malcom says, sm does what it wants...
Goto go now I'll post a chart of what I see on EU H1 Later.
  • #1,718
  • Jul 28, 2010 11:17am Jul 28, 2010 11:17am
(hopefully when u get back we are bellow 70 or 50 on eu.

Quoting Intel
Goto go now I'll post a chart of what I see on EU H1 Later.
dreams do come true.
  • #1,719
  • Jul 28, 2010 12:16pm Jul 28, 2010 12:16pm
http://www.forexfactory.com/showpost...ostcount=10073

non believers .. oh well never mind
Blogging daily now at www.volume.zone
  • #1,720
  • Jul 28, 2010 12:36pm Jul 28, 2010 12:36pm
Thanks for your comment on my charts and for the advice Intel.
@mel


Quoting Intel
Once the down move has started, look for a ND during a retrace for your entry. You can find one on your chart 3 bars from the left. A break of the low of this bar is a quality entry point. Don't worry about the part of the move you missed, concentrate on the part you are getting.
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