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vsa with Malcolm

  • #6,701
  • Nov 12, 2010 9:07am Nov 12, 2010 9:07am
call it week ...traders have a good weekend.
The Market pays you to be disciplined
  • #6,702
  • Nov 12, 2010 9:12am Nov 12, 2010 9:12am
Quoting Seepiprun

There is the posiblility this will not turn into a head and shoulders and instead just continue to be a down trend.

We need a bounce off the bottom of the range and price to pull away for conformation of a head and shoulders.

4 hour chart
can elaborate/explain a liitle more ... what do u mean by the highlighted portion ...which bottom ? what range ?
a chart will be nice to see the points .
  • #6,703
  • Nov 12, 2010 9:19am Nov 12, 2010 9:19am
Hi,

Would appreciate experts comments on attached chart, whether my VSA interpretation is correct or not.

Thanks,

Alifari
Attached Image (click to enlarge)
Click to Enlarge Name: gu15.gif Size: 41 KB
The purpose of knowledge is action, not knowledge
  • #6,704
  • Nov 12, 2010 9:38am Nov 12, 2010 9:38am
Bluewing

Looking at your chart, the easiest way to tade is :
Hull Blue = Buy
Hull Red = Sell
Malcolm has said this in numerous posts.

In response to your request to a VSA style answer I hope the following does the job:

When you saw the candle marked upthrust you needed to ask the question " what is in the background; strength or weakness ? "
You needed to see weakness for a sell trade to be considered.

Looking at the left of your chart, I see 12 candles up with the last one being an upthrust on good volume. The following few candles fall but they do so on falling volume, so this is not a good sign of weakness that you are looking for.[Strength]
You then marked a candle with 'no supply' ; this should have been a buy trade if anything.[Strength]
A large blue up candle appeared closing at it's high and on highest volume so far on given chart; very bullish after that no supply candle. >>>This big up candle closed aboved the earlier upthrust and did it on high volume<<< Tom Williams says there is one exception to the 'lets sell the high volume upmove' and that is when price has 'quickly and strongly' cut through an existing resitance zone.[Strength] (I'm sure it's mentioned in MTM, must read again)
The next up candle is on greater volume but the range ( high to low) is only about a third of the previous candle. Supply must be comming in. [Weakness]
Now we have the upthrust with the highest volume so far on chart. The problem with this for me is that it has appeared just after slicing through a resistance level. Yes it shows supply comming in and the next candle confirms this by closing down. But you will be selling INTO a support level, not a good idea with so few signs of earlier weakness.
You then have a candle marked 'no demand', the volume of the candle is lower the the previous two which is good but it is still relatively high (above you moving average on volume).

I would have only considered thinking of selling if the marked upthrust was on super high volume and the no demand was on low (below average) volume.
The more 'background' information you have, the greater chance of success.

Happy Trading
  • #6,705
  • Nov 12, 2010 9:47am Nov 12, 2010 9:47am
Quoting forextine
Malcolm we still looking at 1.3820 area today, and higher next week?
no not now... supply hit eu like a freight train ... this is what I was looking for to support the bear scenarios to 1.33 and may counter that buying i saw at 1,3650 wed / thurs

next week i will sell under 1,3640 , stop 50 pip tp 350

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 200 KB
Blogging daily now at www.volume.zone
  • #6,706
  • Nov 12, 2010 10:31am Nov 12, 2010 10:31am
Quoting malcolmb14
no not now... supply hit eu like a freight train ... this is what I was looking for to support the bear scenarios to 1.33 and may counter that buying i saw at 1,3650 wed / thurs

next week i will sell under 1,3640 , stop 50 pip tp 350

Attachment

Hi Mal can i have a link of ur managed account. I am interested.
  • #6,707
  • Nov 12, 2010 10:53am Nov 12, 2010 10:53am
Quoting malcolmb14
no not now... supply hit eu like a freight train ... this is what I was looking for to support the bear scenarios to 1.33 and may counter that buying i saw at 1,3650 wed / thurs

next week i will sell under 1,3640 , stop 50 pip tp 350

Attachment
I'm thinking higher next week. Everything sold off today, stopping the EU rally, but I think we see an upwards movement next week.

Time will tell, I made 6.5% on GJ last night/today alone, sooooo, have a good weekend, I know I will
  • #6,708
  • Nov 12, 2010 10:57am Nov 12, 2010 10:57am
Quoting bonus76
Hi Mal can i have a link of ur managed account. I am interested.
ok will pm you

or as one muppet said if i say buy , sell and if I say sell buy ... one sure way to lose your account..lol

vsa never lies.
Blogging daily now at www.volume.zone
  • #6,709
  • Nov 12, 2010 11:00am Nov 12, 2010 11:00am
Quoting forextine
I'm thinking higher next week. Everything sold off today, stopping the EU rally, but I think we see an upwards movement next week.

Time will tell, I made 6.5% on GJ last night/today alone, sooooo, have a good weekend, I know I will
not with that supply hitting the market it will not go up

this is what i was looking for to support the bear scenario.

most weekly candles have an average range eu was 510 pip. Pretty nice.

Price drops under 1,3600 next week we could see 1.3300 or lower
Blogging daily now at www.volume.zone
  • #6,710
  • Nov 12, 2010 11:21am Nov 12, 2010 11:21am
When looking at candle spread do you use H/L or open to close?
Today's zone = Tomorrow's opportunity!
  • #6,711
  • Nov 12, 2010 11:27am Nov 12, 2010 11:27am
Quoting pres78
When looking at candle spread do you use H/L or open to close?
Spread is high minus the low. Open isn't even a consideration in VSA.
  • #6,712
  • Nov 12, 2010 11:30am Nov 12, 2010 11:30am
Quoting comapip
Spread is high minus the low. Open isn't even a consideration in VSA.
That's what I thought, just wanted some confirmation... thanks so much.
Today's zone = Tomorrow's opportunity!
  • #6,713
  • Nov 12, 2010 3:10pm Nov 12, 2010 3:10pm
dear Aspire, thank you very much for the informative reply. i'll keep this it mind (about background, hull, no of up/down bars, s&r and of course the VSA itself) when entering the market. you'll brighten-up my day!

Quoting Aspire
Bluewing

Looking at your chart, the easiest way to tade is :
Hull Blue = Buy
Hull Red = Sell
Malcolm has said this in numerous posts.

In response to your request to a VSA style answer I hope the following does the job:

When you saw the candle marked upthrust you needed to ask the question " what is in the background; strength or weakness ? "
You needed to see weakness for a sell trade to be considered.

Looking at the left of your chart, I see 12 candles up with the last one being an upthrust on good volume. The following few candles fall...
  • #6,714
  • Nov 12, 2010 4:39pm Nov 12, 2010 4:39pm
Quoting pres78
When looking at candle spread do you use H/L or open to close?
If you read the book MTM you wouldn't ask this question...or you could just observe chart posted by malolmb a few post above yours...
The Market pays you to be disciplined
  • #6,715
  • Nov 12, 2010 4:42pm Nov 12, 2010 4:42pm
CIBC suspends traders accused of tipping
http://money.ca.msn.com/investing/ne...entid=26323357
The Market pays you to be disciplined
  • #6,716
  • Nov 13, 2010 11:34am Nov 13, 2010 11:34am
I posted AUDUSD setup last week and we hit all 3 take profits and we finished week on TP# ,Beuty trade


This is update of that chart :

Cheers

Petar
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusdvolume.gif Size: 24 KB
Click to Enlarge Name: audsve.gif Size: 32 KB
"Buy on fear, sell on greed !!!
  • #6,717
  • Nov 13, 2010 11:40am Nov 13, 2010 11:40am
last week was a simple week , killed gu and eu on most moves. Friday was a 150 pip trade for me on gu and I got out early.

so will this one be

we saw a test in an uptrend on the 4hr dx ... think 1.33 eu , gold 1350 to 1300 , gu supply at 1,6150 , waiting for failure of 6100 for 5800 area

keep up the great posts and the great trading

Another trader that posts here told me a swiss bank sold 1 billion euro Friday and that is the supply we saw entering the market.

Attached Image (click to enlarge)
Click to Enlarge Name: dx.jpg Size: 177 KB






Quoting Petar_Serbia
I posted AUDUSD setup last week and we hit all 3 take profits and we finished week on TP# ,Beuty trade


This is update of that chart :

Cheers

Petar
Blogging daily now at www.volume.zone
  • #6,718
  • Nov 13, 2010 3:13pm Nov 13, 2010 3:13pm
Quoting mima
If you read the book MTM you wouldn't ask this question...or you could just observe chart posted by malolmb a few post above yours...
Just trying to learn and make sure I understand VSA properly... If you don't want to offer answers to what you think are stupid questions then don't take the time to reply.
Today's zone = Tomorrow's opportunity!
  • #6,719
  • Nov 14, 2010 11:45am Nov 14, 2010 11:45am
Quoting pres78
Just trying to learn and make sure I understand VSA properly... If you don't want to offer answers to what you think are stupid questions then don't take the time to reply.

Hi pres,

Don't take offence by what mima said, take note. It is sound advice. If you read MTM, it will open up a whole world of questions for you. Once people here know youve made the effort yourself(and they will be able to tell I promise you) they will be more than willing to help you.

Hope to see more of you.
  • #6,720
  • Nov 14, 2010 12:34pm Nov 14, 2010 12:34pm
Quoting Intel
Hi pres,

Don't take offence by what mima said, take note. It is sound advice. If you read MTM, it will open up a whole world of questions for you. Once people here know youve made the effort yourself(and they will be able to tell I promise you) they will be more than willing to help you.

Hope to see more of you.
I am in the process of working through MTM right now... (well around trading part time and working full time). This thread has been very informitive and eye opening to a whole new trading tool / method.
Today's zone = Tomorrow's opportunity!
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