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vsa with Malcolm

  • #4,081
  • Sep 16, 2010 12:08pm Sep 16, 2010 12:08pm
word of warning to all fellow traders

tomorrow is quadruple witching . This only happens 4 times a year.

market is going to be mega choppy and those not used to that may want to stay out...look at todays pa in us session .. pretty ugly other then for a few pips here and there

Expect more of the same thru tomorrow.
Blogging daily now at www.volume.zone
  • #4,082
  • Sep 16, 2010 12:08pm Sep 16, 2010 12:08pm
Quoting frankkn
Selling at resistance then ND, quick 20 pips.

i took 20 pips on the way up, was debating taking the short as well but did`nt.

chart
Seek not to change the world; seek only to change your mind about the world
  • #4,083
  • Edited 12:22pm Sep 16, 2010 12:14pm | Edited 12:22pm
Another trade failed on EUR/JPY this time... I put my stop under the low volume test.

Maybe I shouldn't have messed with pairs whose current's day range is bigger than the average... And ej was hesitating on that resistance, that's weakness right there isn't it? On the other hand sometimes prices consolidate just below a resistance and then break it and continue to go up...
Attached Image (click to enlarge)
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  • #4,084
  • Sep 16, 2010 12:15pm Sep 16, 2010 12:15pm
Skyscraper

Find attached Marketprofile for MT4. Options for number of POC and Option for Value area.

Good trading
Attached File(s)
File Type: ex4 marketprofile.ex4   10 KB | 330 downloads
File Type: mq4 marketprofile.mq4   9 KB | 403 downloads
  • #4,085
  • Sep 16, 2010 12:18pm Sep 16, 2010 12:18pm
Mal, have i read this right, still demand here, any thoughts?
Attached Image (click to enlarge)
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Seek not to change the world; seek only to change your mind about the world
  • #4,086
  • Sep 16, 2010 12:21pm Sep 16, 2010 12:21pm
Quoting holn1dream
Skyscraper

Find attached Marketprofile for MT4. Options for number of POC and Option for Value area.

Good trading

Thank you
Seek not to change the world; seek only to change your mind about the world
  • #4,087
  • Sep 16, 2010 12:30pm Sep 16, 2010 12:30pm
Quoting tfflyer
That was good entry.

B,
Tom
Thanks man.

Quote

Find attached Marketprofile for MT4. Options for number of POC and Option for Value area.

Good trading
I'm totally stoked on this, I mentioned earlier today how I've been unable to find VAH and VAL. So we just adjust the open times for NY and LO.

NY is 8, what is LO during the summer, 2 (times in EDT)

edit: Hm I guess the session starting time is just for the colors? How to show value area, and how to adjust time? It look like it starts at midnight my brokers time, would it make a difference?
  • #4,088
  • Edited 1:01pm Sep 16, 2010 12:46pm | Edited 1:01pm
Quoting gez40
Mal, have i read this right, still demand here, any thoughts?

seems so BUT look at my comment in regards to witching .. options expiry tomorrow

with that large shake out in london I would be looking to buy dip
Blogging daily now at www.volume.zone
  • #4,089
  • Sep 16, 2010 12:47pm Sep 16, 2010 12:47pm
Quoting malcolmb14
seems so BUT look at my comment in regards to witching .. options expiry tomorrow

Thanks mate
Seek not to change the world; seek only to change your mind about the world
  • #4,090
  • Sep 16, 2010 1:30pm Sep 16, 2010 1:30pm
Just want to say what an amazing thread, read it all and think it is great.

Has anyone done this with gold? With all time highs in play anyone got any views?

Thanks

Oz
  • #4,091
  • Sep 16, 2010 1:36pm Sep 16, 2010 1:36pm
Quoting ozzieb88
Just want to say what an amazing thread, read it all and think it is great.

Has anyone done this with gold? With all time highs in play anyone got any views?

Thanks

Oz
there was what lookedl ike a buying climax on gld three days back.

I think that may have more to do with quad witching and profit tkaing than real sellers.

Look for move down on gld to 122 , if you see a test then load up on buy for next leg up. If they mention QE2 once more at fomc meeeting next week expect gold to go thru roof,.
Blogging daily now at www.volume.zone
  • #4,092
  • Sep 16, 2010 2:34pm Sep 16, 2010 2:34pm
Quoting malcolmb14
there was what lookedl ike a buying climax on gld three days back.

I think that may have more to do with quad witching and profit tkaing than real sellers.

Look for move down on gld to 122 , if you see a test then load up on buy for next leg up. If they mention QE2 once more at fomc meeeting next week expect gold to go thru roof,.

Hi Mal,

First of all I have read all your posts and have to say you are one of a kind, thank you for all your help... Im starting to get the hang of VSA and will try posting more now.

Was yesterday a Test in your eyes? looking at Day chart.

And what do you mean QE2? Im sorry I dont understand that.

Are we looking for a ND or Up thrust etc for the sell to reach 1220?

Sorry for all the questions. Thank you again for your help.

Oz
  • #4,093
  • Sep 16, 2010 2:59pm Sep 16, 2010 2:59pm
Quoting Jasus
Another trade failed on EUR/JPY this time... I put my stop under the low volume test.

Maybe I shouldn't have messed with pairs whose current's day range is bigger than the average... And ej was hesitating on that resistance, that's weakness right there isn't it? On the other hand sometimes prices consolidate just below a resistance and then break it and continue to go up...
My volume (IBFX demo) on the test bar as you say was still high. Don't know which is right. Looked more of a shake-out to me. After that price went up, hit resistance the third time and went down. Supply must've been too great and overcame demand.

If you look at daily, price was quite choppy at these levels. Safest way to trade at resistance levels, in my opinion, is to wait for the price to break through and successfully test that level. You never know for sure if s/r is going to hold or not.

Another note, try setting a wider SL. It seems scary, but might help. Demo trade of course.

Overall, there were opportunities to enter earlier. Personally, I'd like to see a retrace of some sort (maybe tomorrow). But you never know, BoJ can intervene and mess up everything.
  • #4,094
  • Sep 16, 2010 3:23pm Sep 16, 2010 3:23pm
Quoting ozzieb88
Hi Mal,

...I have read all your posts

Wow you read 16,000 posts that is dedication
  • #4,095
  • Sep 16, 2010 3:33pm Sep 16, 2010 3:33pm
Quoting comapip
My volume (IBFX demo) on the test bar as you say was still high. Don't know which is right. Looked more of a shake-out to me. After that price went up, hit resistance the third time and went down. Supply must've been too great and overcame demand.

If you look at daily, price was quite choppy at these levels. Safest way to trade at resistance levels, in my opinion, is to wait for the price to break through and successfully test that level. You never know for sure if s/r is going to hold or not.

Another note, try setting a wider SL. It seems scary,...
You're right, I only looked at the monthly r1 but there was still the high of that supply bar. Hmm I put the SL under the test (atleast on my volume feed ) because if the price goes under it it means the test failed.
  • #4,096
  • Edited 3:46pm Sep 16, 2010 3:40pm | Edited 3:46pm
EU M15

In retrospect

Simple entry setup, simple exit simple SL positioning.

R:R = 16:107 = ~ 1:6.5

Are we starting to get the picture about R:R with VSA......provided we set the sl in the correct place acording to our entry, R:R doesn't matter.
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  • #4,097
  • Sep 16, 2010 4:16pm Sep 16, 2010 4:16pm
Quoting frankkn
Wow you read 16,000 posts that is dedication
Yep!! The lovely ipad and travelling... From the first post to the last... taken over a week.. Just got hooked, kept reading until I looked at the time! haha

Will start to post charts hopefully next week... see if I have it right..

Oz

As in all posts in this thread by the way....
  • #4,098
  • Sep 16, 2010 4:34pm Sep 16, 2010 4:34pm
Quoting Intel
EU M15

In retrospect

Simple entry setup, simple exit simple SL positioning.

R:R = 16:107 = ~ 1:6.5

Are we starting to get the picture about R:R with VSA......provided we set the sl in the correct place acording to our entry, R:R doesn't matter.
Very nice. R:R is very over rated concept. Assuming you can pinpoint your risk (a false assumption), you never know what your reward is until the trade is done. You can't, and luckily don't have to, predict how far the market will actually move.

VSA is good a telling you where your stop should be. It is market based an not based on the size of your account. Someone posted a good example of that earlier. The idea stop location was below the Shake Out-too far for many but the market doesn't care about that. The reward? Well that would depend on exit method-fixed target vs trailing stop.

I hope you don't start playing so much golf that you don't have time for us. Your insights are vaulable.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #4,099
  • Sep 16, 2010 5:12pm Sep 16, 2010 5:12pm
Quoting Intel
EU M15

In retrospect
Aren't trades so beautiful in retrospect?
Anyway, forbidden trading hours for me (first of all 'cause I'm sleeping, and second because I don't take trades before Europe's opening).

But trying to analyze it as if it was happening now, I think I wouldn't have entered there... that NS isn't convincing enough for me (should happen lower, as a test to the RUT's low body, to make me happy), and seems more like a ND (taking in account that, to the left of your chart, I see lower highs and lower lows being made);
Some bars later, seems like another ND, just before price drifting lower again;
The 2 last red bars of that little swing down are key for me - a squat on a sudden high volume, followed by another RUT, this time really testing the previous RUT's low - so I would have tried to enter after this bar.

But then again... oups, its 7:00 GMT, Frankfurt opening, and unless I'm distracted and not paying attention to that, I don't take trades the 5 to 10 min before and after sessions' opening, to avoid sudden crazy movements, and because volume can't be trusted/compared to the previous bars, due to the normal sudden increase - of course, if I'm in a trade before it, I'll keep it if it's in the "safe zone".

The "2nd chance", is more of my kind of entries, would take that one definitely... but wait... I was trading today, so... why didn't I take it? :nerd:
  • #4,100
  • Sep 16, 2010 5:18pm Sep 16, 2010 5:18pm
Quoting ozzieb88
As in all posts in this thread by the way....
Ahhh... that's more believable, because it must be like 500 to 1000 posts...
"All his post" are over 16.000! For someone who just came on board, would take a long, long time
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