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vsa with Malcolm

  • #1,781
  • Aug 1, 2010 1:29pm Aug 1, 2010 1:29pm
Great stuff, HG. Very much appreciated.
  • #1,782
  • Aug 1, 2010 1:41pm Aug 1, 2010 1:41pm
Not VSA related, but that high at the end of the Frankfurt session was hourly resistance from the previous day and also a resistance level on both the daily and weekly. It was also smack on a MML for those who like to clog up their charts with such like.

Fib fans would also point out that the subsequent up-move stopped slap bang on the 161.8 extension of the day's high-to-low.
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  • #1,783
  • Aug 1, 2010 2:38pm Aug 1, 2010 2:38pm
Im glad the chart i posted caused so much to talk about, and thanks to all for analyzing it......

You guys have done a great job of analyzing it so theres no point me repeating it!

Also in terms of risk/reward the trade was Good! a stop placed just below the last high vol down candle would have been good, a possible shakeout might catch the stop but thats the chance we take.

Thanks mal of the indies.

Ok so theres one thing i think we all want to know.....what does intel work as......? Ha!

See you all tomorrow!
  • #1,784
  • Aug 1, 2010 3:08pm Aug 1, 2010 3:08pm
Intel is from Wales ... so I am guessing a sheep farmer or a miner .

sorry Intel .. could not resist !!! lol

and how do you keep that laptop clean in the coal mine anyway ??? lol



Quoting Tea_trader
Im glad the chart i posted caused so much to talk about, and thanks to all for analyzing it......

You guys have done a great job of analyzing it so theres no point me repeating it!

Also in terms of risk/reward the trade was Good! a stop placed just below the last high vol down candle would have been good, a possible shakeout might catch the stop but thats the chance we take.

Thanks mal of the indies.

Ok so theres one thing i think we all want to know.....what does intel work as......? Ha!

See you all tomorrow!
Blogging daily now at www.volume.zone
  • #1,785
  • Aug 1, 2010 3:23pm Aug 1, 2010 3:23pm
Quoting malcolmb14
[/b]

can you please elaborate on this ? what do you mean by moved one period to the right ?
Thank you all for your very thorough analysis and I hope to see many more of it in the future, because you can really learn a lot from the way others look at a chart.

Malcolmb14, if you look at ES #f chart you see that the two highest volume bars happened on 7th and 10th of May; but in fact they happened on 6th and 7th of May as correctly shown by the chart of SPY. Which means that in ES #f chart every price bar should be represented by a volume bar that is now under the following price bar.
  • #1,786
  • Aug 1, 2010 3:57pm Aug 1, 2010 3:57pm
I see he was from wales, was goning comment on sheep but...

The urge to reference sheep when you meet the welsh is so strong... (ow the good old days of school trips) LOL.

Btw posts are very insightful intel! keep them coming!

Quoting malcolmb14
Intel is from Wales ... so I am guessing a sheep farmer or a miner .

sorry Intel .. could not resist !!! lol

and how do you keep that laptop clean in the coal mine anyway ??? lol
  • #1,787
  • Aug 1, 2010 5:37pm Aug 1, 2010 5:37pm
What do you call a sheep tied to a lampost in Cardiff???????????????????

A good night out for the boys!!!!!!!!!!!!!!!!!!!
  • #1,788
  • Aug 1, 2010 5:38pm Aug 1, 2010 5:38pm
What do you call 2 sheep tied to a lampost in Cardiff?????????????????????

A brothel!!!!!!!!!!!!!!!!!!!!!!
  • #1,789
  • Aug 1, 2010 5:39pm Aug 1, 2010 5:39pm
What do you call 2 sheep and a mountain goat tied to a post in Cardiff????????????????


A leisure centre!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
  • #1,790
  • Aug 1, 2010 6:16pm Aug 1, 2010 6:16pm
Quoting HiddenGap
Absolutely beautiful chart of so many VSA principles.

The best entry on this chart is not the entry that Gavin, or Mal, or myself would take. It is one Tom or Intel would....

Take a look at the chart below.

A. We see an increasing range candle on climatic volume. The close is in the upper portion of its range and the next candle is up. This is an Effort to Rise. For whatever reason this price area has brought in demand (this will be key later). Note the top to the left, this appears to be absorption volume/pushing through supply. Both...
If you have the HG.doc, make sure you add his last 2 posts to it.

Great stuff as ever mate.
  • #1,791
  • Aug 1, 2010 6:18pm Aug 1, 2010 6:18pm
Quoting Intel
What do you call 2 sheep and a mountain goat tied to a post in Cardiff????????????????


A leisure centre!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
rofl .....
Blogging daily now at www.volume.zone
  • #1,792
  • Aug 1, 2010 6:21pm Aug 1, 2010 6:21pm
Quoting malcolmb14
when you look at a higher time frame and background this was a perfect very low risk to high reward long.

Nice work Tea...

tdj thanks for the great debate ... and making others think and look at this. This is what this thread is about everyone helping each other think and become better at this trading game.

Attachment
Absolutely.....

Right or wrong doesnt matter......debate does!

Every time we discuss trades like this, we ALL become better traders.
  • #1,793
  • Aug 1, 2010 6:30pm Aug 1, 2010 6:30pm
Quoting Tea_trader
Im glad the chart i posted caused so much to talk about, and thanks to all for analyzing it......

You guys have done a great job of analyzing it so theres no point me repeating it!

Also in terms of risk/reward the trade was Good! a stop placed just below the last high vol down candle would have been good, a possible shakeout might catch the stop but thats the chance we take.

Thanks mal of the indies.

Ok so theres one thing i think we all want to know.....what does intel work as......? Ha!

See you all tomorrow!
Intel works very very hard at trying not to work hard at anything!!!

BTW I would normally put my SL 2 or 3 pips below the lowest point of the swing. If price is gonna go your way, it will ALMOST never drop below this point. However if it does, then you've ALMOST always done something wrong and your stop will save you.
  • #1,794
  • Aug 1, 2010 8:16pm Aug 1, 2010 8:16pm
Quoting Intel
Intel works very very hard at trying not to work hard at anything!!!

BTW I would normally put my SL 2 or 3 pips below the lowest point of the swing. If price is gonna go your way, it will ALMOST never drop below this point. However if it does, then you've ALMOST always done something wrong and your stop will save you.
I disagree here. On many occasions stops get triggered and move in your original direction.

For me, I like to give more room for the trade to run, because when a shakeout occurs it will definitely take you out. That's why it's called a shakeout don't forget. So, I place my SL's at the other end of any obvious swing or key level and not the immediate swing (usually the R/R isn't too bad at that level too).
  • #1,795
  • Aug 1, 2010 11:37pm Aug 1, 2010 11:37pm
Hello, Malcomb


Good to know you started your own thread
Don't compare your Trades with Others
  • #1,796
  • Edited 2:53am Aug 2, 2010 2:04am | Edited 2:53am
GM all- I noticed some interesting posts on how to enter trades after a VSA signal and am sharing some of my ideas.

I trade the Frankfurt and London Opens and then another couple of hours, looking to bank ~ 50 pips from the session - I also have longer term trades.

I start by looking at the last 5 days action on my hourly chart and yesterdays action on my 15 min chart.

For me, Price Action - especiallly Higher Lows or Lower Highs around a level are THE most important, follwed by volume.

The 15 min chart (so far) confirms the continuation of Fridays rally, with price holding above the upward sloping EMAs, with three Higher Lows.

I enter off my 5 min chart - or even my 1 min chart - and on my 5 min chart at A there was a high volume wide red candle followed by a small low volume green Inside Bar - a Harami and so a classic buy on the break above the high of the IB.

At B, there was a low volume green doji - a shakeout and a Higher Low. Here, the safer trade was to wait for confirmation by a close ABOVE the 30 ema.

At C - 40 mins before the Frankfurt OPen, price pulled back to Fridays High and the then rising 30 ema thus allowing an immediate buy which was followed by a wide ranged green marubozo candle which later turned into a harami. The volume was the highest of the last few bars, thus signalling a buying climax.

Given that his was still half an hour before the FO, I was watching closely on my 1 min chart and exited within a couple of pips of the high....as IMO it was too early to expect a larger move.

Then I started watching for another HL to take a new trade. There is always a high probability that the 90 mins from FO will start the European morning move which can often be more than 100 pips - this is the move that I aim to catch.....http://cdn.forexfactory.com/images/icons/icon12.gif
Attached Image(s) (click to enlarge)
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Trading Levels with WRBs
  • #1,797
  • Aug 2, 2010 2:52am Aug 2, 2010 2:52am
"Then I started watching for another HL to take a new trade. There is always a high probability that the 90 mins from FO will start the European morning move which can often be more than 100 pips - this is the move that I aim to catch.....http://cdn.forexfactory.com/images/icons/icon12.gif"

Further opportunities to Buy were at D & E.

Buys taken at C, D & E had a total potential of > 100 pips.......I'm finished for this morning.....
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Trading Levels with WRBs
  • #1,798
  • Aug 2, 2010 3:26am Aug 2, 2010 3:26am
I can see a lot of reasons to go long there - established uptrend, price above pivot, moving average agreement etc. What I'm struggling to see is a valid entry in VSA terms. It's probably just me though. I quite often struggle to see a decent entry when price goes rattling along in one direction.

Well done on your trades, anyway.
  • #1,799
  • Aug 2, 2010 3:27am Aug 2, 2010 3:27am
Quoting Islander
GM all- I noticed some interesting posts on how to enter trades after a VSA signal and am sharing some of my ideas.

I trade the Frankfurt and London Opens and then another couple of hours, looking to bank ~ 50 pips from the session - I also have longer term trades.

I start by looking at the last 5 days action on my hourly chart and yesterdays action on my 15 min chart.

For me, Price Action - especiallly Higher Lows or Lower Highs around a level are THE most important, follwed by volume.

The 15 min chart (so far) confirms the continuation...
Nice trades Islander. Thanks for the explaination.

Any further info on trading the FO & LO would be most welcome.
  • #1,800
  • Aug 2, 2010 3:32am Aug 2, 2010 3:32am
Quoting wh1zz0
I disagree here. On many occasions stops get triggered and move in your original direction.

For me, I like to give more room for the trade to run, because when a shakeout occurs it will definitely take you out. That's why it's called a shakeout don't forget. So, I place my SL's at the other end of any obvious swing or key level and not the immediate swing (usually the R/R isn't too bad at that level too).
Just to clarify If you look at Islanders M5 chart, if my entry was at the break of the high of the test at point B, my SL would be 2 or 3 pips below the low at point A.

I find this to work nicely no matter how close to my entry.
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