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vsa with Malcolm

  • #6,081
  • Nov 2, 2010 8:42pm Nov 2, 2010 8:42pm
Quoting Sonofsin5
Looks like a piece of pizza, and now I'm hungry.

I like Eur for a retrace but currently am clueless about the direction of GU. If pros wanted a great day to short into a up-move they got it with the Eur. Tomorrow is going to be a wild ride.
Yes 3900 looks like a nice base camp to set up shop prior to the FOMC. Then either up to 4050-4100 (if QE2 plays out as planned or if more than 1 trillion in easing is anounced) or down to 3700 by end of day (yes that would be a daily range of 330+ but with QE2 built in any chnage could cause a major drop). IMHO if the feds delay, cancel or come in with anything less than a trillion dollars in QE2 then we should see stocks die and the USD gain some strength that should last until the next FOMC meeting barring any unforseen easing related anouncements.
Today's zone = Tomorrow's opportunity!
  • #6,082
  • Nov 2, 2010 10:35pm Nov 2, 2010 10:35pm
Quoting pres78
Yes 3900 looks like a nice base camp to set up shop prior to the FOMC....
Thats a very plausible scenario. I just don't want to be caught in a "Buy the rumor sell the fact" situation. The only problem is the Fed has the power and the printing press to keep any market in the world propped up.
  • #6,083
  • Nov 2, 2010 11:55pm Nov 2, 2010 11:55pm
accumulation or " no supply, no sellers " ?

don't know ... currently , looks like it is through doing rounded bottom half way ...
Attached Image
  • #6,084
  • Nov 2, 2010 11:56pm Nov 2, 2010 11:56pm
Quoting TheArcher
what's happening now ?

low volume down bar = test = no selling strength

also aisa is very quiet tonight every other session they bought the crap out of eu and gu last 2 weeks ....mmmmm
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  • #6,085
  • Nov 3, 2010 12:02am Nov 3, 2010 12:02am
Quoting malcolmb14
low volume down bar = test = no selling strength
which are the bars u r refering to ?
  • #6,086
  • Nov 3, 2010 12:03am Nov 3, 2010 12:03am
gu major weakness

this looks like distribution to me ....
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 211 KB
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  • #6,087
  • Nov 3, 2010 12:08am Nov 3, 2010 12:08am
Quoting malcolmb14
gu major weakness

this looks like distribution to me ....
Attachment
Malc whats the condition that separates the blue from the red candles?
  • #6,088
  • Nov 3, 2010 12:38am Nov 3, 2010 12:38am
Quoting Tea_trader
Hey juhanimi,

to be honest under 'normal' circumstances i would regard it as stregth as its a down bar...however all that vol and the chart has made little upward progress. so im guessing someone was 'capping' the bar!

im expecting either some more weakness around 10920 area for strength around 11260, be intresting to see what plays out....then again we could see rapid price movement through those areas!
Okey, update when that phase is over, I want to see what that was.

Edit: There was one more thing.
Usually, when you see real upthrust, price don`t go up after that, like in this case it goes up after upthrust, so maybe there was some sellers left and fighting back.
  • #6,089
  • Nov 3, 2010 12:51am Nov 3, 2010 12:51am
Quoting malcolmb14
low volume down bar = test = no selling strength

also aisa is very quiet tonight every other session they bought the crap out of eu and gu last 2 weeks ....mmmmm
JPy bank holiday.
  • #6,090
  • Nov 3, 2010 1:05am Nov 3, 2010 1:05am
H&S pattern forming on the EURUSD 1hr?
Today's zone = Tomorrow's opportunity!
  • #6,091
  • Nov 3, 2010 3:22am Nov 3, 2010 3:22am
GU is just nasty looking so I'm staying away. EU has a huge range and not much else. There will be many catalysts to move the pair, so we might finally get a breakout. As for today EU still trying to break through resistance at ~1.404.
Attached Image (click to enlarge)
Click to Enlarge Name: eu_m30_2010-11-03.png Size: 52 KB
  • #6,092
  • Nov 3, 2010 4:38am Nov 3, 2010 4:38am
could it be shake out for the rest of the day? we already reached to 100 pips daily range.. not much actually. and i am not sure whether it was absorbing supply or selling came....

cheers...
  • #6,093
  • Nov 3, 2010 5:06am Nov 3, 2010 5:06am
What do you mean shake out for the rest of the day? We can certainly get a retracement/test of the breakout, but a shake out would suggest GU would climb higher. A shake out is the same as selling climax but in an up trend. And guessing is not very good in forex. Clear head and going with what you see is best.
  • #6,094
  • Nov 3, 2010 5:48am Nov 3, 2010 5:48am
EU M15
No supply and in right place I think.
  • #6,095
  • Nov 3, 2010 6:02am Nov 3, 2010 6:02am
Hit SL, zero pips.
  • #6,096
  • Nov 3, 2010 6:03am Nov 3, 2010 6:03am
Zerro better than - for sure


Best,
Tom


Quoting juhanimi
Hit SL, zero pips.
  • #6,097
  • Nov 3, 2010 6:40am Nov 3, 2010 6:40am
Yes, zero is good, second try long from 50 7 pips sl.
  • #6,098
  • Nov 3, 2010 7:02am Nov 3, 2010 7:02am
Postive US data prior to FOMC keeps risk currencies and stock riding high. I thought we might see 1.39 but I was wrong and now 1.41 is looking more possible. I think the smart money will look to set up all the USD crosses at nice bases prior to FOMC. EUR above 1.4 or even 1.41, GBP above 1.61 etc... They are going to be ready to buy USD hard if the Feds change their tune at all from the QE2 that has been priced in.
Today's zone = Tomorrow's opportunity!
  • #6,099
  • Nov 3, 2010 7:06am Nov 3, 2010 7:06am
Out again, now with -7.1 pips.
Yeah, that`s life.
  • #6,100
  • Nov 3, 2010 7:25am Nov 3, 2010 7:25am
eu looks like it may be hammered later

I am in at 4040
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 209 KB
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