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vsa with Malcolm

  • #5,481
  • Oct 19, 2010 5:49am Oct 19, 2010 5:49am
with a tail again hourly bar...
  • #5,482
  • Oct 19, 2010 6:15am Oct 19, 2010 6:15am
OK so what's with this unusual activity? Very high volume on 5min. EU with close at high. A bit out of the blue for me. Next bar almost the same.
  • #5,483
  • Oct 19, 2010 8:09am Oct 19, 2010 8:09am
Quoting Beljevina
Thx. I haven't really learned to trust them ... I actually like the TLs I draw in for strategic entries and confirmation of trend intactness. Attached is the blue/red 'Megatrend' indi and the arrows are the 'supernova' one.

I see GU also broke below 1.58 as expected. 1.578 doesn't look like it will hold, so still gunning for 1.574. Note how everything works in symphony: USDJPY shot up. Sure, UK CBI business optimism for October coming in much weaker at 2 vs expected 8 (10 last go round) is driving it. Here's a M15 version of the same chart.
GU

5700 is a well respected support area and theres loads of volume coming in right there, probably signifies a reversal. Look for setups at that support area.
  • #5,484
  • Oct 19, 2010 9:08am Oct 19, 2010 9:08am
A/J just broke a months worth of consolodation. Just FYI cause I know you like this pair.

http://www.forexfactory.com/showpost...&postcount=676

Jim
  • #5,485
  • Oct 19, 2010 9:43am Oct 19, 2010 9:43am
Nice easy short on GU and EUR last night. It seems we are consolidating around 3780 and if this breaks, 3650 is a high probability target zone.
  • #5,486
  • Edited 10:09am Oct 19, 2010 9:58am | Edited 10:09am
Quoting Intel
GU

5700 is a well respected support area and theres loads of volume coming in right there, probably signifies a reversal. Look for setups at that support area.
Ugly PA, with a retest of that low. Doesn't look like sellers are present, but we're at the mercy of USD strength & weakness here. Am overly bearish on GU - we didn't get here for no reason. BoE speaker later today too plus a plethora of data in London AM.

1st gotta get beyond that white TL, then have TP1 @ 1.577 and maybe we reach 1.58/1.581 on a spike. H1 has painted a nice bullish hammer but candle, but the last 3 of 6 H1 candles have been like that - these don't mean that much when a trend & momentum is strong. Hoping this holds. 3M VSA bottom confirmed but fingers remain crossed. London close in 30 min and the whole next hour is prone to swing this one way or another.

EDIT: Out at BE. EURUSD has printed a new low, down 20 pips. If GU breaks below 1.5696, I don't see much until 1.5655, 1.564. Will look for another entry above a break of that white TL.
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  • #5,487
  • Oct 19, 2010 10:49am Oct 19, 2010 10:49am
What I like about EU is that so far there is no close for a new low. And there has been a lot of buying during that selling. So we just might see at least a some sort of a pullback. Plus Bernanke is speaking later. You just know he wants to stimulate the crap out of the economy
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  • #5,488
  • Oct 19, 2010 12:21pm Oct 19, 2010 12:21pm
If MACD daily crosses down after 5 PM EST, we could have an open door to 1.3580 ( 38.2% Fib ), 1.3400 (50% Fib ) or 1.3200 ( 61.8% Fib or 200 SMA ).To me this is a counter and I will not trade it.

Jim
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  • #5,489
  • Oct 19, 2010 1:13pm Oct 19, 2010 1:13pm
There goes my support. Oh well.
  • #5,490
  • Oct 19, 2010 1:27pm Oct 19, 2010 1:27pm
Quoting Beljevina
... Going forward, be careful of the very real possibility of QE announcement London Wednesday morning session & a plethora of sterling data. If QE happens - and BoE has led the FED in the past - there's no time like the present (ie., before Nov 3) to announce it. I'm still looking for 1.55 in GU, and if UK QE2 happens, we're sailing onwards.

Regardless, the UK budget will be scathing and swings potentially huge. I'm finding GY just too messed up mostly due to UJ and the combination of a weak pound. GY nor GU frankly look like they're recovering...
Wet diaper-like trading conditions this NY afternoon. And Merv's not even grabbed the mike yet. EU's dipped another 50 pips in this post 2pm EST period - that's a rarity. Although stopping volume's present on GU, she's looking to break. US equity market sentiment is awful. I can't say it's sterling selling, but rather market correlation. And then when it breaks, sterling selling will ensue.
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  • #5,491
  • Oct 19, 2010 2:46pm Oct 19, 2010 2:46pm
Quoting Nene
A/J just broke a months worth of consolodation. Just FYI cause I know you like this pair.

http://www.forexfactory.com/showpost...&postcount=676

Jim
Jim not been around much this week ... trying to ignore the charts

sold nzd .7560 and gu 1.5990. Gu just touched my target for the week but it is only tuersday .. do we get a 700 pip week
Blogging daily now at www.volume.zone
  • #5,492
  • Oct 19, 2010 4:03pm Oct 19, 2010 4:03pm
Quoting malcolmb14
Jim not been around much this week ... trying to ignore the charts

sold nzd .7560 and gu 1.5990. Gu just touched my target for the week but it is only tuersday .. do we get a 700 pip week
In this currency war market era and QE injections is it more sophisticated to go Longer Term? Ignore Charts? Lol..Malcolm is that you or account hijacked?

I am glad to see you doing it as I asked you about it recently and you were not so warm about the prospect..It seems something changed.
  • #5,493
  • Oct 19, 2010 4:19pm Oct 19, 2010 4:19pm
Mal, do you stay late to trade Asia/Europe?

I don't see any reasonable moves during US :/ have to keep my hands AFK not to open any silly trades.
  • #5,494
  • Oct 19, 2010 4:35pm Oct 19, 2010 4:35pm
I'm blaming China for everything Clearly bears won a battle today, but have they won the war?
  • #5,495
  • Oct 19, 2010 4:50pm Oct 19, 2010 4:50pm
Quoting cosmoras
In this currency war market era and QE injections is it more sophisticated to go Longer Term? Ignore Charts? Lol..Malcolm is that you or account hijacked?

I am glad to see you doing it as I asked you about it recently and you were not so warm about the prospect..It seems something changed.
lol vsa top and then that fake out break out .... been watching this for 4 weeks

I mentioned weakness in gu in shamusus thread and all he did was scoff at me saying ... ' oh anyone can say that market is going to move 200 pip and several days later it did and now the real weakness plays out). I have been MUCH happier selling gu for 4 weeks now rather than buying

weekly futures chart 1

2nd chart hourly top

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Blogging daily now at www.volume.zone
  • #5,496
  • Oct 19, 2010 6:21pm Oct 19, 2010 6:21pm
If someone founds this post very personal - ask to Yourself - why You found this post very personal and You want to argument with this post...

This is for those, who are following this or any other thread...

Just for You to remember...

Super Traders.... and others can say that market will go there and there....

Super Traders.. and others are saying "that looks good for long and short..."

Super Traders.. and others are saying - "i am taking good pips from all this down move "

Ofcourse, those pips is mentioned, mainly after price makes already nice moves.

Saying - This looks good for short and this looks good for long DOESN'T make sense that some person HAS tooked trade...

Unfortunately, more than offen when someone posts that he really is taking trade - i see those trades more than offen to go in loss.
But those trades, which was mentioned like this looks good... etc... - Those trades more than offen goes in profit.


DONT show me any posts to argument...and dont start to argument with me like - this is not signal service etc... THIS IS NOT ALL ABOUT THAT..


I have talked about this with many members here.. SO, i am writing it here.

If someone founds this post very personal - ask to Yourself - why You found it very personal and You want to argument with this post...

THIS IS NOTHING PERSONAL, BUT I WANTED TO MENTION IT HERE.

Have a good trading ANYONE

Best,
Tom




Quoting malcolmb14
lol vsa top and then that fake out break out .... been watching this for 4 weeks

I mentioned weakness in gu in shamusus thread and all he did was scoff at me saying ... ' oh anyone can say that market is going to move 200 pip and several days later it did and now the real weakness plays out). I have been MUCH happier selling gu for 4 weeks now rather than buying

weekly futures chart 1

2nd chart hourly top

Attachment

Attachment
  • #5,497
  • Oct 19, 2010 7:01pm Oct 19, 2010 7:01pm
what was point of this tom . I mentioned weakness in markets over a week or 2 ago in other vsa thread. someone commented to the effect of ' whatever we can all call that' but really did not understand distribution only what some software told them to do. ....

my point was no software will show you distribution or how to put the pieces of the puzzle together.

http://www.forexfactory.com/showthre...32#post4103632
http://www.forexfactory.com/showthre...12#post4101512
http://www.forexfactory.com/showthre...83#post4097983

and others will show you of my feeling of gu as it topped out.... major distribution . Now not saying this is going all the way down 2000 pip . lol ... but a healthy reatrce on the daily was way overdue

Quoting tfflyer
If someone founds this post very personal - ask to Yourself - why You found this post very personal and You want to argument with this post...

This is for those, who are following this or any other thread...

Just for You to remember...

Super Traders.... and others can say that market will go there and there....

Super Traders.. and others are saying "that looks good for long and short..."

Super Traders.....
Blogging daily now at www.volume.zone
  • #5,498
  • Oct 19, 2010 11:46pm Oct 19, 2010 11:46pm
pomo tomorrow in US session .... 7:15 am pst to 8 am pst.

not sure this will have upward effect on currencies. But maybe worth keeping eyes opne for vsa long opportunities in eu and gu around this time , just in case feds inject another 6.5 billion of liquidy in to the markets
Blogging daily now at www.volume.zone
  • #5,499
  • Oct 19, 2010 11:50pm Oct 19, 2010 11:50pm
eu potential weakness where we may expect it

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Blogging daily now at www.volume.zone
  • #5,500
  • Oct 20, 2010 12:26am Oct 20, 2010 12:26am
Quoting malcolmb14
eu potential weakness where we may expect it

Attachment

major weakness eu ... another nd bar

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