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vsa with Malcolm

  • #3,781
  • Sep 13, 2010 10:55am Sep 13, 2010 10:55am
Quoting Jasus
I saw, but only afterwards, 7am is too early for me

GU is showing supply below the daily R1 now, but it's on a short-term uptrend (tl with 3 touches) and there's a test on 15m. If this test fails it could be an entry couldn't it? But then there's the validated trendline...

EDIT: By the time I wrote this it went up on low volume...

It's a personnal thing but I don't like to trade GU around this time, the volumes are always low.
  • #3,782
  • Sep 13, 2010 11:05am Sep 13, 2010 11:05am
GU M30
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  • #3,783
  • Sep 13, 2010 11:12am Sep 13, 2010 11:12am
and it can always go higher.
the eurusd has been profit taking all morning...UP
the gu and eu are out of sync I would be cautious for sure.
generally, if a pair is profit taking into new high ground since last week (eu). you gotta go with it....it can always profit take 100 pips and many times much more.
when a pair is in profit taking. a general bias is to always go with the direction of profit taking not against.
when we look at vsa there is a tendency to only see the bars and not bigger picture of accumulation then profit taking. know when there is many hours of buying or selling ....it helps to figure when to trade along with the profit taking.

Quoting Jasus
I saw, but only afterwards, 7am is too early for me

GU is showing supply below the daily R1 now, but it's on a short-term uptrend (tl with 3 touches) and there's a test on 15m. If this test fails it could be an entry couldn't it? But then there's the validated trendline...

EDIT: By the time I wrote this it went up on low volume...
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  • #3,784
  • Sep 13, 2010 11:20am Sep 13, 2010 11:20am
eu has been bought on all dips ..... accumualtion thru london at 1.,2800 as expected pretty much , move to top current channel 1.2900

very predictable for once.

Quoting Twiitch
and it can always go higher.
the eurusd has been profit taking all morning...UP
the gu and eu are out of sync I would be cautious for sure.
generally, if a pair is profit taking into new high ground since last week (eu). you gotta go with it....it can always profit take 100 pips and many times much more.
when a pair is in profit taking. a general bias is to always go with the direction of profit taking not against.
when we look at vsa there is a tendency to only see the bars and not bigger picture of accumulation then profit taking. know when there...
Blogging daily now at www.volume.zone
  • #3,785
  • Sep 13, 2010 11:23am Sep 13, 2010 11:23am
What do you mean by 'profit taking' twiitch? For me it's when professionals are starting to take their profits and we can see supply in the market because of it. But if the market is strong it can continue, and it will many times make a test to see if the supply is gone. That's what happened today on EU.

I don't know if your definition of profit taking is the same as mine, but if it is you should be careful when you see supply in the market, it's possible that it stops the move. Just like Tom Williams says...
  • #3,786
  • Sep 13, 2010 11:52am Sep 13, 2010 11:52am
Quoting Jasus
What do you mean by 'profit taking' twiitch? For me it's when professionals are starting to take their profits and we can see supply in the market because of it. But if the market is strong it can continue, and it will many times make a test to see if the supply is gone. That's what happened today on EU....
Broadly speaking, upmoves last longer than down moves because of profit taking. Profit taking (selling in an uptrend) creates resistance. In a down move most people do not want to take the lose so they stay in which means there isn't that buying to create support..
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #3,787
  • Sep 13, 2010 11:59am Sep 13, 2010 11:59am
the markets go through never ending cycles of accumulation of a buy or sell position then profit taking.
in general, ref. to Ney books. we as retail traders are trading against those that run the markets. often refered to as 'SMART MONEY, PROF traders, etc.' it doesn't really matter who it is. to win we need to profit take when they profit take...the profit taking is the bigger move generally in forex 100 pips moves or more. simply put, say price goes up on increasing volume but is not making big gains in price...hv says that there is alot of buying in this up move. but someone is selling the public buying(think of this as one person selling)...hence they are accumulating a sell position....profit taking will be a down move. 2 examples to look at.
note: acc doesn't have to be a sideways consolidation.
the point is the market is in an endless cycle of acc then profit taking...the profit taking is where we want to tag along with...this is what vsa is helping us do. it hopefully gives us a bias (and entry)in the direction of profit taking.
one problem I find with profit taking is that during this phase the volume can be high on all bars....and even though we could get stopping volume and a hesitation the market can still continue the profit taking move higher ...or lower what ever the case is.
trading is @ getting a bias for direction and trading it.
what better bias than to profit take along in the market with the guys who manipulate it against the public.

A

Quoting Jasus
What do you mean by 'profit taking' twiitch? For me it's when professionals are starting to take their profits and we can see supply in the market because of it. But if the market is strong it can continue, and it will many times make a test to see if the supply is gone. That's what happened today on EU.

I don't know if your definition of profit taking is the same as mine, but if it is you should be careful when you see supply in the market, it's possible that it stops the move. Just like Tom Williams says...
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  • #3,788
  • Sep 13, 2010 12:11pm Sep 13, 2010 12:11pm
Malcolmb do you have a chart you can post on eurusd say 15 minute showing the volume profile on the 1.2800 area.
I'll have to get market delta sometime soon.
thanks in advance

A

Quoting malcolmb14
eu has been bought on all dips ..... accumualtion thru london at 1.,2800 as expected pretty much , move to top current channel 1.2900

very predictable for once.
  • #3,789
  • Sep 13, 2010 2:12pm Sep 13, 2010 2:12pm
Quoting Intel
GU M30
Update

Did we all see that the volume was very low on this tag of the resistance area? How many took the trade?

+59 pips. SL was set at the same place as the last trade just above the UT. The SL on this trade is far more a judgement call than the last trade.
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  • #3,790
  • Sep 13, 2010 2:19pm Sep 13, 2010 2:19pm
On m15 i see entry on last down move, but not on m30.
Atleast, for myself i don't see any good reason to enter trade on m30.

B,
Tom

Quoting Intel
Update

Did we all see that the volume was very low on this tag of the resistance area? How many took the trade?

+59 pips. SL was set at the same place as the last trade just above the UT. The SL on this trade is far more a judgement call than the last trade.
  • #3,791
  • Sep 13, 2010 3:04pm Sep 13, 2010 3:04pm
Quoting Intel
GJ M15

Interesting. That wide spread up bar after the 2nd peak is a bit worrying tho.
Update

Hope you all caught this one. A double top with a nice UT at the resistance area but on much lower volume than the first top. Classic reversal setup. The ND came before the UT conformation but thats ok as long as the next bar is down. You can either enter at the break of the ND as usual or you can wait to see that the bar closes down before entering.

My SL was set at 130.13, a couple of pips above the UT and I wasn't here to watch the trade so I set a TP at just above the low of the dip between the 2 tops at 129.20

R:R = 22:71 about 1:3

Ofcourse had I been watching the trade I'm sure I'd have been in until ........well much longer!
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  • #3,792
  • Sep 13, 2010 3:09pm Sep 13, 2010 3:09pm
Now its time to give updates before entering a trade :]


Best,
Tom


Quoting Intel
Update

Hope you all caught this one....
  • #3,793
  • Sep 13, 2010 3:14pm Sep 13, 2010 3:14pm
Quoting tfflyer
Now its time to give updates before entering a trade :]


Best,
Tom
The initial post was 2 bars before the entry. Just how early would you like them???????????
  • #3,794
  • Sep 13, 2010 3:15pm Sep 13, 2010 3:15pm
Quoting tfflyer
On m15 i see entry on last down move, but not on m30.
Atleast, for myself i don't see any good reason to enter trade on m30.

B,
Tom
It's not rocket science!
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  • #3,795
  • Sep 13, 2010 3:20pm Sep 13, 2010 3:20pm
Quoting Intel
It's not rocket science!
Oh by the way, the original post on this one was about 2 mins after entry, have a look at the post.

If you're waiting for me to tell people when to enter and provide a signal service you'll be waiting a long time. Thats not what this thread is about. At least not for me anyway. I will tell people what I see and let them know how I got on with the trade when it's finished. It's up to them whether they enter or not.
  • #3,796
  • Sep 13, 2010 3:27pm Sep 13, 2010 3:27pm
No No No....

Its not rocket science for sure , BUT, that doesn't gets my criteria to enter trade for sure.. Price is making higher lows and higher highs... :}

So, its not about rocket science...

Every of us is different, but to take such trade for sure doesnt meets my and... Sebastians criteria

But there is no wrong or right way to trade - there is only Your way how to trade

Best,
Tom




Quoting Intel
It's not rocket science!
  • #3,797
  • Sep 13, 2010 3:28pm Sep 13, 2010 3:28pm
I am not waiting anything

EDIT:

And all i saw on that post was a question not anything about entry, but, that ok... Don't take any offense, i am just talking :}

Its good that some people are posting here and for sure some will learn from You something.

Have a good trading.


Best,
Tom



Quoting Intel
Oh by the way, the original post on this one was about 2 mins after entry, have a look at the post.

If you're waiting for me to tell people when to enter and provide a signal service you'll be waiting a long time. Thats not what this thread is about. At least not for me anyway. I will tell people what I see and let them know how I got on with the trade when it's finished. It's up to them whether they enter or not.
  • #3,798
  • Sep 13, 2010 3:37pm Sep 13, 2010 3:37pm
Quoting tfflyer
No No No....

Its not rocket science for sure , BUT, that doesn't gets my criteria to enter trade for sure.. Price is making higher lows and higher highs... :}

So, its not about rocket science...

Every of us is different, but to take such trade for sure doesnt meets my and... Sebastians criteria

But there is no wrong or right way to trade - there is only Your way how to trade

Best,
Tom
GU 30 is in a trading range at the moment. There are subtle differences in how you use VSA in a trading range compared to using VSA in a trending market.

You wont always see the usual setups in a range.
  • #3,799
  • Sep 13, 2010 3:40pm Sep 13, 2010 3:40pm
Yes, this is Your criteria.

For me it is always the same - range or no range.

As i said - everyone of us have different view

Best,
Tom



Quoting Intel
GU 30 is in a trading range at the moment. There are subtle differences in how you use VSA in a trading range compared to using VSA in a trending market.

You wont always see the usual setups in a range.
  • #3,800
  • Sep 13, 2010 3:43pm Sep 13, 2010 3:43pm
Quoting tfflyer
I am not waiting anything

EDIT:

And all i saw on that post was a question not anything about entry, but, that ok... Don't take any offense, i am just talking :}

Its good that some people are posting here and for sure some will learn from You something.

Have a good trading.


Best,
Tom
OK I'll spell it out for you.........

I WONT PROVIDE A SIGNAL SERVICE.

I will simply tell people what I see eg

'Low volume tag of a resistance area. Might not be enough to push through.'

or something similar.
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