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vsa with Malcolm

  • #2,361
  • Aug 12, 2010 10:38pm Aug 12, 2010 10:38pm
Quoting Nene
May hang around 5640 for awhile, and then hopefully breaking that thru the night. My long term TP is 5730 area. But man, do I hate counters...
all in the volumes ... we will see when it is time to reverse ...

Stopped on yesterdays lower value area , breaks this I am looking to 1.5705

NO SOFTWARE CAN REPLACE UNDERSTANDING WHAT THE CHART MEANS. it is like giving a kid a book that cannot read and tell them to enjoy the story. vsa is all about background and when you see and understand the background this is when the best trades happen .

If you are confused or cannot get a clear picture of back ground stay out till you can

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  • #2,362
  • Aug 13, 2010 12:26am Aug 13, 2010 12:26am
low vol test before news

easy long

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  • #2,363
  • Aug 13, 2010 12:59am Aug 13, 2010 12:59am
Quoting malcolmb14
low vol test before news

easy long

Attachment
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  • #2,364
  • Aug 13, 2010 1:06am Aug 13, 2010 1:06am
Quoting sidhujag
I would watch out for tomorrow...
what can i say lol ???? i watch out .... watchout for my back when i lift all the bags of loot from my long trade

this was a vsa set up on a 60 / 30 min that I ran thru in us session . stop is break even +20 and tp is set for 130 pip

vsa rocks
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  • #2,365
  • Aug 13, 2010 1:14am Aug 13, 2010 1:14am
Thanks Malcomb: Yes please do a webinar.

Here is my VSA chart and attempt at a long trade on EU. I've placed my long limit order at 1.2878 at top of yesterday's UT and at 50% retrace from current high to low of this morning's low volume test in hopes of a pull back buy.
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  • #2,366
  • Aug 13, 2010 1:16am Aug 13, 2010 1:16am
Quoting rbumbalough
Thanks Malcomb: Yes please do a webinar.

Here is my VSA chart and attempt at a long trade on EU. I've placed my long limit order at 1.2878 at top of yesterday's UT and at 50% retrace from current high to low of this morning's low volume test in hopes of a pull back buy.

major supply hit market 1.2895

that is level to watch for break out of or rejection from
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  • #2,367
  • Aug 13, 2010 1:24am Aug 13, 2010 1:24am
Quoting malcolmb14
Attachment
The low vol test for selling pressure in question occurred at 7:00 am London/8:00 CET time. That would be when the bank traders are getting warmed up.

Rate $EURUSD initial retrace on 5M bid off 38.2; its going up to prior 4H highs.
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  • #2,368
  • Aug 13, 2010 1:29am Aug 13, 2010 1:29am
Quoting rbumbalough
The low vol test for selling pressure in question occurred at 7:00 am London/8:00 CET time. That would be when the bank traders are getting warmed up.

Rate $EURUSD initial retrace on 5M bid off 38.2; its going up to prior 4H highs.
1.3 maybe if we can absorb this supply at 2900
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  • #2,369
  • Aug 13, 2010 1:44am Aug 13, 2010 1:44am
Quoting malcolmb14
1.3 maybe if we can absorb this supply at 2900
You are very right. There is much supply at 1.29-29.32. The big scary bearish engulfing 5M Reaction bar gave me pause to cancel my entry at 2878 in consideration of the Frankie fakeout. Yet the good number for DE GDP at 2.2% vs 1.4% expected would not be consistent with supply dumping. If those well heeled holders are in the know regarding very bad forward expectations for 2Q and 2011 then they would be bearish in the face of what would in happier times be good news. Sell the news, but the rumor. I will therefore seek a short entry at 2900 up to 2932.
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  • #2,370
  • Aug 13, 2010 1:47am Aug 13, 2010 1:47am
Quoting rbumbalough
You are very right. There is much supply at 1.29-29.32. The big scary bearish engulfing 5M Reaction bar gave me pause to cancel my entry at 2878 in consideration of the Frankie fakeout. Yet the good number for DE GDP at 2.2% vs 1.4% expected would not be consistent with supply dumping. If those well heeled holders are in the know regarding very bad forward expectations for 2Q and 2011 then they would be bearish in the face of what would in happier times be good news. Sell the news, but the rumor. I will therefore seek a short entry at 2900...

as Intel says i am always right ... (said with tongue in cheek)

it is not me .. it is the charts ... we have to see if this supply can be absorbed

we are in dicey position for longs right now with supply in the market like that
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  • #2,371
  • Aug 13, 2010 1:52am Aug 13, 2010 1:52am
one way to see if supply is absorbed is to look for any lv tests on a 10 min .... this could show a potential breakout of supply are.
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  • #2,372
  • Aug 13, 2010 1:56am Aug 13, 2010 1:56am
Mal, you're a legend mate. These calls are on spot on!.

She's bounced off the 23% niceley and should be going back to test the 1.3, just a matter of when. Hopefully she breaks the 2900 then we can see the test.

Please count me in on you live trades if you get them up and running. Gotomeeting.com is great for conferences.

p.s

Keep it up bro
  • #2,373
  • Aug 13, 2010 2:03am Aug 13, 2010 2:03am
Quoting Sonny1
Mal, you're a legend mate. These calls are on spot on!.

She's bounced off the 23% niceley and should be going back to test the 1.3, just a matter of when. Hopefully she breaks the 2900 then we can see the test.

Please count me in on you live trades if you get them up and running. Gotomeeting.com is great for conferences.

p.s

Keep it up bro
no live trades just doing everyone a favour , in the fall when things settle down and i have time do some live examples of this stuff , may be one week US session for 3 hours or something

i mean this is a free thing just for a week as I love trading so much but i do not have time to get it done right now... maybe sept
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  • #2,374
  • Aug 13, 2010 2:10am Aug 13, 2010 2:10am
here is how gu is playing out ..... posted this one earlier

even got a shake out in frankie ..... thanks guys lol

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  • #2,375
  • Aug 13, 2010 2:12am Aug 13, 2010 2:12am
EU 15M pennate has higher probability of breaking to upside. Sell target 1.2932 which is yesterday's high, R1 pivot, sliding parallel of Andrew's Pitchfork median line, and not shown, it is the 1.382 projection of yesterday's open to yesterday's high from this mornings open. Stop loss is at 2981 and above a big hourly ETMD down bar with climax high volume.
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  • #2,376
  • Aug 13, 2010 2:13am Aug 13, 2010 2:13am
Quoting rbumbalough
EU 15M pennate has higher probability of breaking to upside. Sell target 1.2932 which is yesterday's high, R1 pivot, sliding parallel of Andrew's Pitchfork median line, and not shown, it is the 1.382 projection of yesterday's open to yesterday's high from this mornings open. Stop loss is at 2981 and above a big hourly ETMD down bar with climax high volume.
sell only if there is reason to ..... let the charts speak to you.
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  • #2,377
  • Aug 13, 2010 2:15am Aug 13, 2010 2:15am
Quoting rbumbalough
EU 15M pennate has higher probability of breaking to upside. Sell target 1.2932 which is yesterday's high, R1 pivot, sliding parallel of Andrew's Pitchfork median line, and not shown, it is the 1.382 projection of yesterday's open to yesterday's high from this mornings open. Stop loss is at 2981 and above a big hourly ETMD down bar with climax high volume.
1.2932 is also the 1.618 projection of open to high of initial spike after German GDP upside surprise.

Time for me to get some rest. I have to go to my work in the morning. Its 2:15 am here in Mesquite Texas. BTW, I am very grateful for the VSA lessons and postings of all the forum participants. Many Thanks.
  • #2,378
  • Aug 13, 2010 2:17am Aug 13, 2010 2:17am
still loads supply 2900 ....

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  • #2,379
  • Aug 13, 2010 2:26am Aug 13, 2010 2:26am
Slept in today

GU M15
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  • #2,380
  • Aug 13, 2010 2:26am Aug 13, 2010 2:26am
Quoting malcolmb14
still loads supply 2900 ....

Attachment




.

Agreed - sold it twice off ~2900 in Frankies and once so far after LO....
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