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vsa with Malcolm

  • #3,301
  • Sep 1, 2010 11:12am Sep 1, 2010 11:12am
Quoting malcolmb14
couple of things on this post
1) you were right in the weakness off the double top . I have noted it on this chart . aj caught me in a simialr set up last week , and jpy pairs are doing this alot, fake double tops that drop 50 pip only to reverse to upside 200 plus

2) your entry was late... real entry 107.30 area... would have given you enough room to get stop be.

3) as soon as you saw move stalling and wicks at 106.80 that was enough to close trade ( would have been for me ) as it is sign buyers

4) after down move 107 to 106.8 and doji next...

Hi Malcolm,

Wow, you are extremely fast in responding.
Much appreciated.

2) You mean I should enter Short at "No Demand" that is before London.
Lately I skip trades before London, wait for larger volume in London/USA to enter.
Yeah, I missed seeing this "No Demand".
Now got it that can look for "No Demand" before London.

3) Need to learn how to read, re-evaluate and get out fast.
Normally I let my trades either hit set SL or TP. Mostly SL!!
And would not want to exit so quickly as that buyers coming in was my actual real Entry-Short bar.

4) Need to learn about "buyers confirmed" and how to reverse entry fast once know it is opposite direction!

Normally I play in this order preferences EUR/JPY, GBP/USD, AUD/USD, AUD/JPY, NZD/USD, EUR/USD and USD/CHF.

Thanks Mal.

Cheers,
FB.
  • #3,302
  • Sep 1, 2010 11:26am Sep 1, 2010 11:26am
Quoting frankkn
Good morning traders.

Looks like London has had some fun.

My question to you:

Is this increase in volume due to NY opening or SM taking profits?

The candle that is highlighted is EU 15m candle starting at 8:15 am EDT.
Still short from 23, SL at BE. Hoping for RN to break, the 15m (EU) is showing possible H&S
  • #3,303
  • Sep 1, 2010 11:31am Sep 1, 2010 11:31am
Quoting Petar_Serbia
For my view,

First price went down about 30 pips from your entry i dont know why you put 60 sl and 60 TP,second thing i never trade before london open,its very risky...Also when you work smaller frames take a look larger for confirm...Just my advice


Hope this help you >

Petar

THis is how i saw eurjpy todya clear UP with confirmation on larger > TP was hit on 61.8 Fib
Hi Petar,

Yes, it helps.

My actual entry was after London open, where the small Yellow horizontal line is. Just as buyers coming in.

I don't use much Fib to calculate TP or SL.
Have tried Fibbing a bit before but I still need to get direction right first before can apply fib properly.
In this case my direction is wrong so would have set fib in the opposite direction to you!

My SL is set to be near the recent swing High is this case, above the double top.
It just happen to be around -60pips.
Usually my SL is around 50pips to 100pips, still learning how to lower below 50pips.

TP is set to 60pips in this case to be same as SL, and based on yesteday price, it has potential to go down 60pips.

Petar, also want to thank you for your Renko thread.

Cheers,
FB.
  • #3,304
  • Sep 1, 2010 11:36am Sep 1, 2010 11:36am
Stoping volume on UC? hourly chart.
Wait for low vol to enter.
am i right
Attached Image
  • #3,305
  • Sep 1, 2010 11:54am Sep 1, 2010 11:54am
No Demand bar on eu 15 min chart
Attached Image
  • #3,306
  • Sep 1, 2010 11:54am Sep 1, 2010 11:54am
Quoting foxybunny
My 1st VSA Trade (Live)..Reasons:
Note the Red vertical line, the bar AFTER this line is my signal bar.
And then I set and wait for my Short entry on signal bar's Low minus some pips.
Weakness Background as price down much yesterday.
Key Reversal Bar down, with Volume increase from previous bar.
Hull also turn Red.

** Please comment on analysis.

Please advise on whether my Short entry is appropriate as a VSA entry?

And why should it be a Long(actual result) instead of a Short(my opinion) according to VSA?...Attachment
Problem #1: too many indicators on your chart. I don't know how you can see price effectively with all that other stuff on your chart.

Now, If you are going to use some of that stuff, then you should take advantage of them. Why would you even think about a short when price is above all your MAs? There is no need to catch tops and bottoms.

I have attached a copy of my chart. Yes, there are a couple of indicators. But I don't trade the indicators. I trade the price action using VSA and use the indicators to do one thing-indicate trend.

I would not go short if price is above the DBPL and Williams %R36 is above the "zero" (-50) line. Is there some weakness in the area you show? Yes but as long as price is above the DBPL and R36 is blue, I only want to be long. I would therefore be looking for low volume down candles (No Supply or Tests).

Take a look at the second chart.

This is a 5 minute Euro/USD. This is, in my humble opinion, the effective way to trade VSA. The prior trend was to the upside. Things get interesting for us at around 3:00 am est.

Price begins to fall below the DBPL. But look at the volume. It is less than the previous two candles. That means this first candle with the double arrow is No Selling Pressure. Next candle, more of the same. Down candle on decreasing volume less than the previous two. Another example of No Selling Pressure.

The next candle does not make any sense. It is an up candle on decreasing volume less than the previous two. It closes in the lower portion of its range and is an inside candle. It looks like No Demand.

The next candle confirms the No Demand by closing lower, but it has even less volume than the previous candle. In fact, this candle has volume that is now lower than average in addition to being less than the previous two. Clearly there isn't any supply in this market. **Note if you had placed an order to get short at the low of the out of place No Demand, you were NOT brought into the market as this next candle did not make a lower low. At this point you would definitely have to re-evaluate the situation.***

The true strength of the market shows itself on this next candle. A narrow (NR4) candle that closes in the upper portion of its range on increasing volume which is greater than average. This is a Down Squat. The narrow range tells us that the BBs are not interested in lower prices as the range is being capped. The reason for the this is because demand is swamping supply at this level. Otherwise the range would be larger on this amount of volume.

But I would not enter here............

I need for the trend to change. Once price moves above the DBPL and R36 turns blue, I start looking for ways to get long. Now I have the trend in my favor and I am trading in Harmony with the Smart Money. Four intervals after price moves above the DBPL, I get a narrow range down candle on volume less than the previous two candles: No Supply. Not the bottom but a high probability entry.

Now jump to the candle Marked No Demand. Why would I want to even think about going short here? The trend is up and there is no real background weakness.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: current4.png Size: 118 KB
Click to Enlarge Name: Current3.png Size: 115 KB
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #3,307
  • Sep 1, 2010 11:56am Sep 1, 2010 11:56am
Quoting frankkn
Still short from 23, SL at BE. Hoping for RN to break, the 15m (EU) is showing possible H&S
eu over extended on day ... had to retrace. Thinking run at 2900 before reall reversal .... that would make three up days on daily .

looking for entires on fib retrace of todays move ....green lines with 50 or 38% , will be tracking both gu and eu thru asia

So keep tuned ..

watching that hulls .. that turns up combined with stopping vol etc I am in

Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 176 KB
Blogging daily now at www.volume.zone
  • #3,308
  • Sep 1, 2010 12:05pm Sep 1, 2010 12:05pm
foxybunny ..

following HG post ... always look to hightime frame for trend .

60 min hulls was green , so we should be looking for longs on dips 10 min charts

This hulls ma has kept me out of doing silly things alot of the time

Hence i did not sell eu this morning even for a counter trend trade

Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 178 KB
Blogging daily now at www.volume.zone
  • #3,309
  • Sep 1, 2010 12:14pm Sep 1, 2010 12:14pm
Great thread, thank you for it! It can sound very nooby, but is that the same indicator as the "Volume" in mt4?
  • #3,310
  • Sep 1, 2010 12:23pm Sep 1, 2010 12:23pm
Quoting HiddenGap
Problem #1: too many indicators on your chart. I don't know how you can see price effectively with all that other stuff on your chart.

Now, If you are going to use some of that stuff, then you should take advantage of them. Why would you even think about a short when price is above all your MAs? There is no need to catch tops and bottoms.

I have attached a copy of my chart. Yes, there are a couple of indicators. But I don't trade the indicators. I trade the price action using VSA and use the indicators to do one thing-indicate trend.

I would...
Thanks HG.
  • #3,311
  • Sep 1, 2010 12:32pm Sep 1, 2010 12:32pm
Quoting Gesek
Great thread, thank you for it! It can sound very nooby, but is that the same indicator as the "Volume" in mt4?
similar ... we mostly use better volume indicator... it has been posted here before
Blogging daily now at www.volume.zone
  • #3,312
  • Sep 1, 2010 1:02pm Sep 1, 2010 1:02pm
Malc, do you account for any HMA repaint? i'm not sure, is it just the current bar that repaints or is it a couple of bars?
  • #3,313
  • Sep 1, 2010 1:18pm Sep 1, 2010 1:18pm
Quoting malcolmb14
similar ... we mostly use better volume indicator... it has been posted here before
Thank you, i was searching for it, but didnt find. I will not give up

Or (big request from me) can someone upload the better volume indicator please?

Malcolmb, if u dont mind i will be here, post some charts with the indicator(if i find or get it) and will analyze with you and of course the others
  • #3,314
  • Sep 1, 2010 1:22pm Sep 1, 2010 1:22pm
here are a couple of versions. i think the difference is mostly how they present average vol. you can ask the developers, they are on this thread.
cheers



Quoting Gesek
Thank you, i was searching for it, but didnt find. I will not give up

Or (big request from me) can someone upload the better volume indicator please?

Malcolmb, if u dont mind i will be here, post some charts with the indicator(if i find or get it) and will analyze with you and of course the others
Attached File(s)
File Type: ex4 Hidden Gap Volume Indicator V5[b].ex4   20 KB | 930 downloads
File Type: mq4 BetterVolume 1.4_TRO.mq4   19 KB | 807 downloads
File Type: pdf Better_Volume_Indicator.pdf   322 KB | 1,309 downloads
  • #3,315
  • Sep 1, 2010 1:24pm Sep 1, 2010 1:24pm
Quoting foxybunny
Hi Petar,

Yes, it helps.

My actual entry was after London open, where the small Yellow horizontal line is. Just as buyers coming in.

I don't use much Fib to calculate TP or SL.
Have tried Fibbing a bit before but I still need to get direction right first before can apply fib properly.
In this case my direction is wrong so would have set fib in the opposite direction to you!

My SL is set to be near the recent swing High is this case, above the double top.
It just happen to be around -60pips.
Usually my SL is around 50pips to...
You are welcome my friend > Traders help traders
"Buy on fear, sell on greed !!!
  • #3,316
  • Sep 1, 2010 1:31pm Sep 1, 2010 1:31pm
Quoting djarum11
here are a couple of versions. i think the difference is mostly how they present average vol. you can ask the developers, they are on this thread.
cheers
Yeah! I was looking for this. Thank you very much!

So officially:

Greeting to all of you! Im not totally newb, but must implement my trading of pure PA and BollingerB with at least one indicator, and this seem to be the right place for it!

ps. sorry for my englis, hope it will improve as my understanding of this indicator will improve
  • #3,317
  • Sep 1, 2010 1:40pm Sep 1, 2010 1:40pm
Quoting wajid
Stoping volume on UC? hourly chart.
Wait for low vol to enter.
am i right
I am on that trade


I will go for TP on 50 Fibo in this case becouse i see huge Resistance there...



Cheers

Petar
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadnow.gif Size: 20 KB
"Buy on fear, sell on greed !!!
  • #3,318
  • Sep 1, 2010 1:56pm Sep 1, 2010 1:56pm
Most majors are now consolidating after their moves, Ill call it a day and be back for Asia. Unless there is a huge upthrust or extremely evident weakness on the 1 hour charts I see no reason to be looking for shorts at the moment.
  • #3,319
  • Sep 1, 2010 2:11pm Sep 1, 2010 2:11pm
Quoting Petar_Serbia
I am on that trade


I will go for TP on 50 Fibo in this case becouse i see huge Resistance there...



Cheers

Petar
Thanks Petar

I am out of trade.

What is your entry and stop loss.
  • #3,320
  • Sep 1, 2010 2:25pm Sep 1, 2010 2:25pm
petar, do you wait for a no supply candle to enter on a higher high on the next candle?

if not wat are you looking for? ty!!
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