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vsa with Malcolm

  • #5,241
  • Oct 6, 2010 4:29am Oct 6, 2010 4:29am
Quoting JuliusCeasar
I could be wrong but it looks like sellers coming in around 1.3865-70 area

30 min unable to close above 1.3860

should be good for maybe 50, we'll see..

tight stop, bull far from dead.

Attachment
Looks like NFP will be the biggest attraction. Some news coming out from US today too. And EU is almost at 61.8% fib @ ~1.39. Good place to get a decent pullback.
  • #5,242
  • Oct 6, 2010 4:38am Oct 6, 2010 4:38am
Quoting djarum11
Here are a couple of ways that VSA can be confusing. please help shed some light on these setups so we don't fall for them. here are my humble readings-

1. looked like selling: 1. price squat on slightly less vol, followed by 2. pin bar type of candle (not an upthrust bar) at 3. TL.

REALITY: hidden selling absorbed. tricky... (it got me)
REMEDY: keep lower TFs in view at all times to watch for NS


2. ND, NS, ND, NS....typical daytime market.

REMEDY: play the range or ignore EST 3pm-6pm signals. come back later & note the progression...

Hi djarum11,

Your AJ-H1 bar "looked like selling" needs confirmation.
The next bar was an UpBar and it closes above the high of "looked like selling' bar, so now looks still buying.

And since you drew a down trend line, as the price break above this trend line, you would look for a long. This need confirmation that the next few bars don't break down this trend line.
You will see a small red bar from above the trend line coming down but never touch or cross down this trend line. Then next was an UpBar that close above the high. Good confirmation that still going up for now.
  • #5,243
  • Oct 6, 2010 4:46am Oct 6, 2010 4:46am
Just a quick EU weekly to see where we're at.
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  • #5,244
  • Oct 6, 2010 5:50am Oct 6, 2010 5:50am
I made an entry on e/u. The picture explains my entry. I have already exited this trade after the 5 min showed a stopping volume... Not sure whether i should have stayed in but didnt look good on the 15 either. Got out with 10 pips profit.
Attached Image (click to enlarge)
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  • #5,245
  • Oct 6, 2010 5:54am Oct 6, 2010 5:54am
Looking to long in the gray area if the proper setup appears.

http://i865.photobucket.com/albums/ab220/Pete146/2h.jpg
  • #5,246
  • Oct 6, 2010 6:00am Oct 6, 2010 6:00am
Quoting malcolmb14
1) look at a 15 min with a hulls on ... you would not have been selling. I do not use 5 min charts anymore .. banged out 135 pip on an eu long last night

Attachment
Hey Malc i wanted to ask you,

is the reason you dont use 5 min charts because you prefer bigger profit trades and the 5 min might cause you to exit too soon? or is it because they are less reliable?? Because im the type pf trader that is happy making 30-50 pips a day and holding trades for less time.
  • #5,247
  • Oct 6, 2010 6:09am Oct 6, 2010 6:09am
Quoting JuliusCeasar
I

30 min unable to close above 1.3860

should be good for maybe 50, we'll see..



Attachment
Nice 50 and flip at 1.381

buyers coming in
Mind over matter..I don't mind and you don't matter.
  • #5,248
  • Oct 6, 2010 6:11am Oct 6, 2010 6:11am
Quoting comapip
So far sellers come at the top of the range, buyers come in at the bottom. A bit more selling pressure than buying. But that's maybe to get better prices. EU daily suggests it wants to go higher, but there still is a possibility of a test of 1.378.

Anyway, the trend is clearly UP, so no selling for me.

Update: GU is being a total @$$; waiting for US session.
I know what you mean comopip the GU i think just seems to be working out all the players for an upmove, i think the non farm employment news will take the Gu up.

there seems to be subtle buying, ive attched a chart, LOL ill probably be wrong and have my ass handed to me but hey it may be worth a punt.

Let see what happens.
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  • #5,249
  • Oct 6, 2010 6:19am Oct 6, 2010 6:19am
Quoting pete148
Looking to long in the gray area if the proper setup appears.

http://i865.photobucket.com/albums/ab220/Pete146/2h.jpg
Got the yoa ming now approaching that area

http://clip2net.com/s/yGoM
  • #5,250
  • Oct 6, 2010 6:22am Oct 6, 2010 6:22am
Ireland's downgrade to A+ would explain the sudden euro down move. Would like EU a little lower for a buy.
  • #5,251
  • Oct 6, 2010 6:23am Oct 6, 2010 6:23am
Quoting NaughtyPip
I made an entry on e/u. The picture explains my entry. I have already exited this trade after the 5 min showed a stopping volume... Not sure whether i should have stayed in but didnt look good on the 15 either. Got out with 10 pips profit.
Why have you decided that the area you marked as 'High volume area' is actually high volume area?
  • #5,252
  • Oct 6, 2010 6:25am Oct 6, 2010 6:25am
http://i865.photobucket.com/albums/a...ngVanGundy.jpg
  • #5,253
  • Oct 6, 2010 6:25am Oct 6, 2010 6:25am
Quoting Intel
Why have you decided that the area you marked as 'High volume area' is actually high volume area?

that long candle was a high volume candle, where the grey lines connect with the body of the candle... was it not? like hiddengap teaches... ?
  • #5,254
  • Oct 6, 2010 6:40am Oct 6, 2010 6:40am
Quoting NaughtyPip
that long candle was a high volume candle, where the grey lines connect with the body of the candle... was it not? like hiddengap teaches... ?
You need to go back and look at WRB analysis. This is not a high volume bar. HG has used 'Supply/Demand Delta Zones' in the past which is probably what you're refering to, it is not one of these either.

WRB is worth the effort if you apply it correctly.
  • #5,255
  • Oct 6, 2010 6:43am Oct 6, 2010 6:43am
Not sure if anyones looking at longs on the GU for adp non farm employment , but if you are bullish im looking to pass the 15900-15904 area pretty quickly.
  • #5,256
  • Oct 6, 2010 6:54am Oct 6, 2010 6:54am
Quoting Tea_trader
Not sure if anyones looking at longs on the GU for adp non farm employment , but if you are bullish im looking to pass the 15900-15904 area pretty quickly.
Sometimes I do take a trade before news announcements, if I spot a setup that shows SM being building a position for it;
If I had to pick a long setup, between EU & GU, it would be EU, looks stronger at this point.

But I'm kinda distracted with other stuff, so will stand still.
I did take a short in GU earlier, closed way too early cause it was hanging at -10, and finally took only +10 as soon as I could (it then came down 30 or 40 pips more).
  • #5,257
  • Oct 6, 2010 7:01am Oct 6, 2010 7:01am
Quoting tonirai
Sometimes I do take a trade before news announcements, if I spot a setup that shows SM being building a position for it;
If I had to pick a long setup, between EU & GU, it would be EU, looks stronger at this point.

But I'm kinda distracted with other stuff, so will stand still.
I did take a short in GU earlier, closed way too early cause it was hanging at -10, and finally took only +10 as soon as I could (it then came down 30 or 40 pips more).
Yeah EU Does look a better prospect.

Looks like some supplys come in on the GU, to be honest ill probabay wait see if i can catch some kind of reaction to an upmove or downmove with a ND or NS.

Theres alot of old tops that would need to be cleared in a long, although news is a perfect tool or that LOL
  • #5,258
  • Oct 6, 2010 7:06am Oct 6, 2010 7:06am
Quoting Tea_trader
Yeah EU Does look a better prospect.

Looks like some supplys come in on the GU, to be honest ill probabay wait see if i can catch some kind of reaction to an upmove or downmove with a ND or NS.

Theres alot of old tops that would need to be cleared in a long, although news is a perfect tool or that LOL
As I was writing, EU M15 built that long up bar, so if I would have taken the long, I might even consider closing it before the news (except maybe if I had pips to burn and wanted to wait for the news and see if it would push higher);

GU does seems to be fighting against supply, which made me scalp 10 more on a quick short.

But it's time to wait and see now...
  • #5,259
  • Oct 6, 2010 7:18am Oct 6, 2010 7:18am
ADP Non-Farm Employment Change -39K

so, lets see how they will play with this...

bad news... bad news for selling ?
  • #5,260
  • Oct 6, 2010 7:28am Oct 6, 2010 7:28am
awesome set up ..3800 or low target for today

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