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vsa with Malcolm

  • #4,641
  • Sep 24, 2010 3:13am Sep 24, 2010 3:13am
Quoting malcolmb14
whole market is odd in Lodnon

euro ripping , uj heading down after 90 pip spike , and gu in 20 pip range ...lol....WTF

should be a nice 8 to 10 point gap play in es when i wake up though ....so can look on the bright side
now looks like eu being sold into heavy on good news
Blogging daily now at www.volume.zone
  • #4,642
  • Sep 24, 2010 3:15am Sep 24, 2010 3:15am
Quoting comapip
Well, BoJ refused to comment on that, so most are assuming they did it.
Anyway, weekend talks might shed some light.

EU news were surprisingly better than expected. Just read some article that it's almost impossible for the news to be good. So that's quite funny
I think we can rule out BoJ as the culprit earlier this London morning; as fumbling as they are, money solves everything, and they have hundreds of billions to throw at intervention, and they proved they can drive up the yens properly. Plus, I think there's a cultural thing where they would not do it after hours (Japan business hours.) I really thought they'd be wise enough to do it today, given they've lost 60%+ of their initial investment.

When you think about it, if you had a fund with hundreds of millions ready to deploy, cooking up some rumour, sail through buy stops 5 pips above current price, and then slowly dump it , would be a cool way to make tens of millions. Worst that can happen is they get stuck holding longs another <100 pips of the Uj decline, which for big money, is nothing. Then BoJ shows up Monday/next week, and Christmas comes early! Sounds a little Soros-ish to me, although any culprit would not want to be found out with such a slimy maneuver.
  • #4,643
  • Sep 24, 2010 3:27am Sep 24, 2010 3:27am
ton supply in eu on the up move

I would not be surprised to see eu drop in us , days high should be 1.3410 area
Blogging daily now at www.volume.zone
  • #4,644
  • Edited 4:42am Sep 24, 2010 3:44am | Edited 4:42am
EU at a previous supply area now. Watching closely. Checking for supply it seems. And there just might be some. Don't know if I'll trade, my thinking's compromised due to lack of sleep.

Update: looks like a bunch of test bars on 5 min. But I don't see enough demand to break through. Might be in range for some time. We'll see.
Update2: I still don't like up move volume. Surprised it moved that far. Now hit by a truckload of supply on 5min. Still refusing to drop.
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  • #4,645
  • Sep 24, 2010 4:03am Sep 24, 2010 4:03am
I think EU background was full of strength before news.
Multiple Stopping Vols and low vol tests all around.

(Especially that huge Stopping Volume bar in the morning)

See my interpretation.
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  • #4,646
  • Sep 24, 2010 6:09am Sep 24, 2010 6:09am
Quoting hsa013
I think EU background was full of strength before news.
Multiple Stopping Vols and low vol tests all around.

(Especially that huge Stopping Volume bar in the morning)

See my interpretation.
The bar you have marked as SO is not a SO.
  • #4,647
  • Sep 24, 2010 6:13am Sep 24, 2010 6:13am
would like to see it down a bit so that the up test on low vol that i expect still to happen doesn't stop me out. anyway weakness on the background and double top could be forming.

could have taken a good lot of pips on my shorts last night. had 5 already. got greedy and ended up at be less some because i was sleeping and could put sl at be in the last 2 shorts. but it was a nice entry even so.

waiting a no demand to load more on eu.

hapipipin fellow VSAers!
dreams do come true.
  • #4,648
  • Sep 24, 2010 6:21am Sep 24, 2010 6:21am
EU H1
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  • #4,649
  • Sep 24, 2010 6:35am Sep 24, 2010 6:35am
I see we have US news out in an hour. That could provide the volume required.
  • #4,650
  • Sep 24, 2010 6:45am Sep 24, 2010 6:45am
sellers on the news, then more sellers above and now the ND i needed.

since i am already short and risk is high enough i will only load more once we go down from the supply area we are in.

green pips VSAers!
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dreams do come true.
  • #4,651
  • Sep 24, 2010 6:47am Sep 24, 2010 6:47am
Quoting Intel
The bar you have marked as SO is not a SO.
Could you help me out then, what is it?
thanks
  • #4,652
  • Sep 24, 2010 7:10am Sep 24, 2010 7:10am
although bears are controling the bulls this 15m was not in the cards. it invalidates the ND before...

plan still valid, though. news can mess it up...
dreams do come true.
  • #4,653
  • Sep 24, 2010 7:11am Sep 24, 2010 7:11am
Looked more like stopping volume. Taken from MTM about shake-outs:

A shake-out can be defined as is a sudden wide spread down, usually on bad news. It is engineered to create panic selling, thus helping the transfer of stock back to the professional traders. This is usually seen after a bull move has been running for some time. You would expect higher prices after this event. A true selling climax looks the same as this shake-out does; the big difference is that on a selling climax you will have a Bear Market behind you.
  • #4,654
  • Sep 24, 2010 7:16am Sep 24, 2010 7:16am
Clearly there is a wall of supply on EU at the current level. What confuses me is why won't it fall? Is everyone content with the price level? Or is it some sort of distribution or accumulation? There doesn't seem to be any pressure down below that wall of supply.
  • #4,655
  • Sep 24, 2010 7:21am Sep 24, 2010 7:21am
we will go down. beware of a big shake out at the news...

my biggest worry still: bulls aren't letting go the demand...
dreams do come true.
  • #4,656
  • Sep 24, 2010 7:25am Sep 24, 2010 7:25am
Quoting wannaberich
we will go down. beware of a big shake out at the news...

my biggest worry still: bulls aren't letting go the demand...
Based on how the daily candle is formed, (price still maintain above previous high) i reckon we will see a breakout or at least more room to the upside.
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  • #4,657
  • Sep 24, 2010 7:31am Sep 24, 2010 7:31am
Hope this cross pair can lead to somewhere.. Another doji on the daily?

Well, I guess everybody here got some pips trading the majors. Frankly I have to cut my UJ pos earlier after the support breakout (4h closed below the support) and reenter at the 61 fibo..
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  • #4,658
  • Sep 24, 2010 7:32am Sep 24, 2010 7:32am
Quoting malcolmb14
that was the easiest 100 pip I ever made ....

the charts did not lie. I heop you understood why there was strength and not weakness

yea was a nice up move (short lived) .. but it looks like its a shake out/ Trap up move ..

still weak ..... ... upthrust on Daily .... take care
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  • #4,659
  • Sep 24, 2010 7:40am Sep 24, 2010 7:40am
Oh my god. Was so focused on EU that I totally missed GU. Such a nice little test on 5m. There go my pips...
  • #4,660
  • Sep 24, 2010 7:47am Sep 24, 2010 7:47am
and not 50 before down...
dreams do come true.
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