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vsa with Malcolm

  • #3,361
  • Sep 2, 2010 3:52am Sep 2, 2010 3:52am
Looking at today, it was pretty clear. Just look at the thicker red line and the marked down candle. Support held perfectly. Plus, the down candle closed in the middle, clearly showing there was still buying interest (demand). That would be enough for me to go long.

Yes, there are times when stuff isn't clear, with many contrarian signals. My suggestion would be to take a break and then look at higher TFs before digging deeper. Look at any resistance/support areas and see how price is reacting to them.

Also, news like NFP or today's ECB conference (looking forward to hearing all the silly questions during that) and speeches can easily shake you out of the market. Of course, it may very well be what you are looking for as a trader.

For me, I like 1 hour charts and I look at resistance/support areas, draw channels and look for either no demands, climactic action or anything that would tell me which way the price is likely to go. I use lower TFs for any signs of reversals to exit. Oh and I never look at 4 hour volume. It's usually worthless. I may very rarely look at it for candle formations if other TFs don't help.
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  • #3,362
  • Sep 2, 2010 4:21am Sep 2, 2010 4:21am
upthrust on 30 min chart on high volume (weakness)
. r u still at long comopip
  • #3,363
  • Sep 2, 2010 4:28am Sep 2, 2010 4:28am
Quoting wajid
upthrust on 30 min chart on high volume (weakness)
. r u still at long comopip
we need confirmation of upthrust with some down bar/s
  • #3,364
  • Sep 2, 2010 4:35am Sep 2, 2010 4:35am
Although I don't see a really valid reason to exit, I'm out with 30 pips. Upthrust alone isn't really a reason to exit. For me there has to be a down bar after it. My TP was hit, so that was the reason for me. No need to get too greedy before major news events I think Although decreasing volume on up bars 15 min. That should be watched. And, of course, whatever you decide, make sure to protect any profits. At least be at BE at this point.
  • #3,365
  • Sep 2, 2010 4:51am Sep 2, 2010 4:51am
Quoting foxybunny
...HiddenGap, please advise again at price 'B' whether or not my above analysis is ok in regards to VSA ??

And why would you NOT do a Short at bar 'B', or Short the small bar straight after bar 'B' ??...Attachment
Hello FB and welcome to the thread by the way.

First of all, most of the time we only want to enter short on up candles/bars. B is a down candle. While it does confirm some weakness on A, the background is really not all that weak. The volume on B is increasing and climatic with the next candle up. This actually tells us that some buying was done on B.

That next candle does have volume less than the previous two candles, which shows No Demand. However, the volume is still above average and thus a bit high. When you take into account the lack of background weakness, then you really shouldn't want to get short on a No Demand that has greater than average volume. Especially if that ND is not making a higher high.

With that said, if you are going to get short, the place is on the candle after B. You would be wrong, that's a part of trading. The very next candle will let you know you are on the wrong side. No big deal losses happen. It's how they are managed that separates the winners from the rest. The pros aren't pros because they never lose. They are pros because they lose better.

Just remember that the we want to trade the PRICE ACTION via VSA and not the indicators. Mal always says VSA is about history and not one candle or bar. In this case the history is not that weak. You would prefer either multiple signs of weakness or at least one weak candle on Yao Ming type volume-very excessive volume.

The chart below is a bit contradictory in that it shows long entries on up candle (most of the time we only want to go long on down candles). But what it shows is the market building a cause for the up move. The background is littered with strength, not just one or two candles but multiple candles showing strength.
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #3,366
  • Sep 2, 2010 5:02am Sep 2, 2010 5:02am
1 hour usd/cad buyers hitting at double bottom.
  • #3,367
  • Sep 2, 2010 5:13am Sep 2, 2010 5:13am
Quoting wajid
1 hour usd/cad buyers hitting at double bottom.
Can you post a chart please.
  • #3,368
  • Sep 2, 2010 5:21am Sep 2, 2010 5:21am
Quoting Intel
Can you post a chart please.
also want to know ur openion about EU
Regards
Attached Image
  • #3,369
  • Sep 2, 2010 5:23am Sep 2, 2010 5:23am
Quoting malcolmb14
also pa .. for example gu here has a nice bull flag

we have seen subtle buying on dips since US highs of us .. so not sure what peoaple see as bearish in gu other than it is in a downward flag channel

anyway hulls turned green , hit a long1.5440 , stop 50 pip ( gu has a habit of doing a shake out) target 1.5575

Petar .. btw short on usdcad 1.0532 tp 1.0400

Attachment
Hello guys,

Malc i am still bulish till trendline hold,eurjpy bearish...
"Buy on fear, sell on greed !!!
  • #3,370
  • Sep 2, 2010 5:27am Sep 2, 2010 5:27am
Quoting Petar_Serbia
Cable also looks bearish to me but i wont take that trade becouse i have 2 setups but we will see tomorow.Tomorow we have many news and when i woke up i will see how my trades going.

ON cable we have Buying climax on Chanel from my view and this can go down but as i said this is Forex and trade just what you see and dont forget Money Menagement...


Cheers


Petar
As i said very good setup
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"Buy on fear, sell on greed !!!
  • #3,371
  • Sep 2, 2010 5:29am Sep 2, 2010 5:29am
Quoting malcolmb14
sold and why ?

very subtle .....1,0524 is resis on 4 hr , bear flag , wide spread up bar hit with subtle selling and NO vol on up move ....

lets see if this plays out or not. I did not really see a ton of buy interest even though ucsdcad has move up slightly. I see this as flag for now , in fact using vsa in a flag situation like this we should be looking for no demand , buying climax or ut to enter a sell for break of flag

Attachment
Malc,i think that isnt good chanel becouse i dont see goog points on it...
"Buy on fear, sell on greed !!!
  • #3,372
  • Sep 2, 2010 5:29am Sep 2, 2010 5:29am
Quoting wajid
also want to know ur openion about EU
Regards
Thanks for that. I dont have any charting software at the moment so I cant comment on EU.

Care should be taken with UC. From this chart alone, price could continue downwards from here. Check out where the S/R areas are near here.
  • #3,373
  • Sep 2, 2010 5:35am Sep 2, 2010 5:35am
Quoting wajid
also want to know ur openion about EU
Regards
wajid,my advice dont trade on strong levels.YOu take a sell on huge TL and huge number i still think usdcad wil go up i risked just 35 pips and i am stil in trade...

Petar
"Buy on fear, sell on greed !!!
  • #3,374
  • Sep 2, 2010 5:46am Sep 2, 2010 5:46am
Quoting wajid
also want to know ur openion about EU
Regards
From Comas chart here.

It seems this is in 2 minds also. USD seems to be in indicision mode all over the place today.

I suspect a move to somwhere just below the previous high maybe 1.2850 ish then look for signs of strength or weakness from there. Be carefull, they will look similar in that area.

EDIT :- I have just looked at the news page at FF. US got news everywhere today also Euro.

Next news in an hours time. The 2 or 3 bars leading up to that will tell all.
  • #3,375
  • Sep 2, 2010 5:55am Sep 2, 2010 5:55am
Quoting Intel
From Comas chart here.

It seems this is in 2 minds also....
Thanks intell and petar.
Now i am goin to sleep becoz news are coming and trade before news is very risky.
I will try to come after news.
  • #3,376
  • Sep 2, 2010 6:10am Sep 2, 2010 6:10am
Quoting HiddenGap
Hello FB and welcome to the thread by the way.

First of all, most of the time we only want to enter short on up candles/bars. B is a down candle. While it does confirm some weakness on A, the background is really not all that weak. The volume on B is increasing and climatic with the next candle up. This actually tells us that some buying was done on B.

That next candle does have volume less than the previous two candles, which shows No Demand. However, the volume is still above average and thus a bit high. When you take into account the lack...

Hi HiddenGap,

Thanks for your welcome.

Still need to get used to enter Long on down bar, Short on up bar.

I am assuming you would still enter Long on the break High of the down bar.
And enter Short on the break Low of the up bar.

I don't mind the loss, just mind the strings of losses.
You can say I am a pro, since my forex lose more and bigger, now must just lose better!

Seem like more learning on analysing Background for Strength and Weakness.

Cheers,
FB.
  • #3,377
  • Sep 2, 2010 6:34am Sep 2, 2010 6:34am
Quoting djarum11
i have been working on & have had some success at times with the VSA mindset. i have def been converted and eyes opened but it does encourage more confusion than ever.

i'd say i have a "decent" grasp of vsa but i have a psychological problem with it because it encourages contrary thinking by its nature & thus also confusion. it encourages too much thinking in the first place. perhaps it will become more second nature. i guess it has to a large extent already.

but instead of getting clearer about entries it still sends my head into a spin guessing...
Hi djarum,

Comments from a VSA newbie myself, who understand what you mean in terms of trading in general.

Having to think is why I am interested in forex and trading.
If not wanting to think, consider buying EA.
I am considering buying that EA, due to frustrating results !!
Perhaps more profitable if I sell EA instead.

Ask yourself what is the "psychological problem" you are facing?

What do you mean by "contrary thinking" in VSA ?

Which specific parts is causing the "confusion" ?


Looking at your previous posts, I was expecting to see more charts you would comment positive and negative results, and reasons why you took a trade.
I did not see much recent charts from your actual trades so more experienced VSA traders could not comment directly on your reasons.

It would help when you post your charts and reasons AFTER the result of your trades, regardless if it is profit or loss.
Post it AFTER so you don't get swayed by other peoples' opinions while you are in the trade.

Also if the charts is lighter background like white, grey, light blue, then easier to see your charts than having black background.
Also save charts in "PNG" as it is much clearer than "JPG" or "GIF".

Keep on encouraging discussion.

Cheers,
FB.
  • #3,378
  • Sep 2, 2010 7:24am Sep 2, 2010 7:24am
Would someone mind posting an upto date EU M15 and UC M15 chart please.

I hate not having any charting software

Many thanks
  • #3,379
  • Sep 2, 2010 7:28am Sep 2, 2010 7:28am
Quoting Intel
Would someone mind posting an upto date EU M15 and UC M15 chart please.

I hate not having any charting software

Many thanks
SUre >
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"Buy on fear, sell on greed !!!
  • #3,380
  • Sep 2, 2010 7:41am Sep 2, 2010 7:41am
GIF file sorry for that.
click on pic to enlarge and clear view.
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