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vsa with Malcolm

  • #2,041
  • Aug 9, 2010 3:50pm Aug 9, 2010 3:50pm
Hey Mal thanks for answering my question regarding the 4 hour, it is baffaling to say the least.
I am starting to look at the hourly chart a little more now!

Hey taomql4, i was watching that poxy GU on and off since 7 GMT, the moment supply came in when i was away from the computer!!
Never mind. Congrats if your caught the trade!

Hopefully tomorrow wont be so choppy (even with FOMC)!
  • #2,042
  • Aug 9, 2010 6:11pm Aug 9, 2010 6:11pm
Quoting taomql4
Sometimes Gotta let the volume playout -- massive sell came in ---
If someone could post a GU M30 chart I'd appreciate it.

It would be interesting to see what happened after Toas' selling hit. The first 2 selling bars are on decreasing volume and the main wide spread down bar is on slightly more but still low volume. Ok, I realise that the bar hasn't finished yet but it still remains that the large down move was on low volume.

I wonder how long it will be before it rises again. It might not be very long.
  • #2,043
  • Aug 9, 2010 6:15pm Aug 9, 2010 6:15pm
Quoting Intel
If someone could post a GU M30 chart I'd appreciate it.

It would be interesting to see what happened after Toas' selling hit. The first 2 selling bars are on decreasing volume and the main wide spread down bar is on slightly more but still low volume. Ok, I realise that the bar hasn't finished yet but it still remains that the large down move was on low volume.

I wonder how long it will be before it rises again. It might not be very long.
I am guessing by 11am Pacific tomorrow it will start rising .... lol

5800 is the critical level to watch on 4 hour and bottom of channel .

we may get a nice long off that level .
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  • #2,044
  • Aug 9, 2010 6:31pm Aug 9, 2010 6:31pm
Quoting malcolmb14
I am guessing by 11am Pacific tomorrow it will start rising .... lol

5800 is the critical level to watch on 4 hour and bottom of channel .

we may get a nice long off that level .
Just been trying to get a look at a chart on GU thread......it has dropped quite a bit.

Was it all on low volume?
  • #2,045
  • Aug 9, 2010 6:33pm Aug 9, 2010 6:33pm
Quoting Intel
Just been trying to get a look at a chart on GU thread......it has dropped quite a bit.

Was it all on low volume?

supply hit market 5960 this morning been dropping since on low volume

remeber price can drop on low volume ... but cannot go up on low volume.

Buyers have just stepped aside letting price drop , this is one of those techniques that dries up the supply above. I am looking for support 15815 area
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  • #2,046
  • Aug 9, 2010 6:38pm Aug 9, 2010 6:38pm
Quoting malcolmb14
supply hit market 5960 this morning been dropping since on low volume

remeber price can drop on low volume ... but cannot go up on low volume.

Buyers have just stepped aside letting price drop , this is one of those techniques that dries up the supply above. I am looking for support 15815 area
Yeah I thought it had the makings of a mark down ready for the push. Were there any conflicting signals or was it down hill all the way?
  • #2,047
  • Aug 9, 2010 7:01pm Aug 9, 2010 7:01pm
Quoting Intel
Yeah I thought it had the makings of a mark down ready for the push. Were there any conflicting signals or was it down hill all the way?
after supply hitting the market at 5960 and stopping me out of 5940 long it has been down hill but volume is LOW ... buyers have jusat stepped aside until fomc tomorrow. We may see 5800 test overnight here on GU

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  • #2,048
  • Aug 9, 2010 7:22pm Aug 9, 2010 7:22pm
Quoting malcolmb14
after supply hitting the market at 5960 and stopping me out of 5940 long it has been down hill but volume is LOW ... buyers have jusat stepped aside until fomc tomorrow. We may see 5800 test overnight here on GU

Attachment
Still drifting.

Noteable tho, each effort to fall on higher volume has been met with buyers. Someone doesn't want it to fall too far.

You could be right Mal, a move around LO maybe, with the final SO on FO.
  • #2,049
  • Aug 9, 2010 8:00pm Aug 9, 2010 8:00pm
check this out on eu odd move for time of day
huge volume

looking for sideways move and basing. ..

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  • #2,050
  • Aug 9, 2010 8:24pm Aug 9, 2010 8:24pm
Quoting malcolmb14
check this out on eu odd move for time of day
huge volume

looking for sideways move and basing. ..

Attachment
Wow that is huge volume.

Got buying in it too. Worth watching that one, could be a good few pips to catch soon!!
  • #2,051
  • Aug 9, 2010 8:31pm Aug 9, 2010 8:31pm
Quoting Intel
Wow that is huge volume.

Got buying in it too. Worth watching that one, could be a good few pips to catch soon!!
this alone suggest more that todays down move is mark down before fomc tomorrow. Got an odd feeling this maybe the last major down move we see all of august and sept lol
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  • #2,052
  • Aug 9, 2010 8:40pm Aug 9, 2010 8:40pm
Quoting malcolmb14
this alone suggest more that todays down move is mark down before fomc tomorrow. Got an odd feeling this maybe the last major down move we see all of august and sept lol
I'm not so sure malcolm.......
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  • #2,053
  • Aug 9, 2010 8:42pm Aug 9, 2010 8:42pm
Quoting realjumper
I'm not so sure malcolm.......

i gotta agree w/ rj.....my instinct is telling me this is the start of the fall.
  • #2,054
  • Aug 9, 2010 10:10pm Aug 9, 2010 10:10pm
Quoting comapip
Seems to me EU just got hit by supply as seen in this 1H chart. So far the next bar is down. I think there's a good setup for going short if we brake out of this range. Also, daily is showing decreasing volume on up days. So let's see how this plays out.
Welcome to the thread and great pick-up.

The 5 min was very nice.
Our old friend, No Demand, came as price tried to move back into the
range of the Ultra High Volume Trap Up Move candle. Note how the No Demand closed in the middle of its range and also below the DBPL.

Sometimes VSA is very logical. Supply was dumped into the market and as price moves back onto the area where sellers let themselves be known, we are now seeing no activity as price rises. The BBs are not interested in higher prices. If they are not interested in higher prices it must be because the expect prices to move lower.
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #2,055
  • Aug 9, 2010 10:57pm Aug 9, 2010 10:57pm
Quoting mfoste1
i gotta agree w/ rj.....my instinct is telling me this is the start of the fall.
the proof of if this is a reversal set up and not just a retracement on the daily is if we see up moves with no demands.

not trading as much fx these days , focused more on es.

watching 1118 for breakdown , 1129 for break up

if 1129 breaks to upside then 1150 then 1180 target . This should take uj up into 88 to 89 as you seem to think .

Not often that es does a shake out like Fridays then collapses. Just the opposite.

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  • #2,056
  • Aug 9, 2010 11:02pm Aug 9, 2010 11:02pm
see if the 1.3100 support level holds. I am not taking any longs till I see hulls on a 30 turn up . They just seem to intent on selling right now.

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  • #2,057
  • Aug 9, 2010 11:06pm Aug 9, 2010 11:06pm
Quoting HiddenGap
Welcome to the thread and great pick-up.

The 5 min was very nice.
Our old friend, No Demand, came as price tried to move back into the
range of the Ultra High Volume Trap Up Move candle. Note how the No Demand closed in the middle of its range and also below the DBPL.

Sometimes VSA is very logical. Supply was dumped into the market and as price moves back onto the area where sellers let themselves be known, we are now seeing no activity as price rises. The BBs are not interested in higher prices. If they are not interested in higher prices...
Nice spot HG. There were also signs on the M30 but they were subtle.
  • #2,058
  • Aug 9, 2010 11:12pm Aug 9, 2010 11:12pm
Quoting Intel
Nice spot HG. There were also signs on the M30 but they were subtle.
odd asian session ....missed entire bloody move again ....

Maybe there is no more QE coming out of usa and that was built into prices.

I am out till tomorrow after fomc as I hate trading fomc day

Anyone that is .. good luck .

watch for any down moves now to be tests / shake outs etc . We saw buying back in the 3100 zone eu and 5800 gu ... for now.
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  • #2,059
  • Aug 9, 2010 11:17pm Aug 9, 2010 11:17pm
i expect a retest in GU at around 1.5775...if there is a retest and there is a move back up, then 1.5775 region could be the lowest for this month....a break of that region could lead to more downside...
  • #2,060
  • Aug 9, 2010 11:25pm Aug 9, 2010 11:25pm
look at the forums every one is now a bear .... one little kiss resistance is not distribution . I doubt it anyway maybe this move has done what it purpose is.

for me I will be looking for any up moves to have weakness to confirm that this is a reversal playing out, but right now it is very odd for this move to happen in asia the day before fomc. almost 120 pip move ending in shake out on 30 min eu and stopping vol gu 30 min . I am not sure that they are not done with this yet.

1.5700 seems to be the critical support level on weekly
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