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vsa with Malcolm

  • #7,141
  • Nov 23, 2010 9:49am Nov 23, 2010 9:49am
Quoting BackTestDummy
Nothing confusing about EU if you just use your eyes rather than trying to predict where it is (supposedly) going to go. Volume will often confuse, price never does.
Why do people do this? Because of the anonymity of the internet and the hit & run nature of doing something and having no stake or responsibility. And it says a lot about their personality. Lots.

You've contributed nothing to this thread, ever, but choose to come swagerring in to take a jab at other's contributions. Looks that you post similar pearls of wisdom about every 3 weeks to FF.

Yes, "using your eyes and following price" will work in this case, but the majority of the times for the majority of traders will not, and amounts to cumulative losses via stops and minimal profits. "Predicting price on a Friday is pure arrogance?" - clearly you're big on phrases, and low on substance. If you have a system that works, go to the significant effort of starting a thread and contributing large amounts of your presumably valuable personal time. Otherwise, go find another urinal.
  • #7,142
  • Nov 23, 2010 9:50am Nov 23, 2010 9:50am
Quoting danc
>>> GREAT POST.. I am with u.. He also brings vibrance to the thred....somthing very diffrent.. and like u i enjoy and find educational his pictures.. I hope he stays.. once again thank you for a well thought out and intelligent post.. his call on the Euro last night was spot on..
There are plenty of different threads if you are looking for that...besides many times was said Petar_Serbia has several threads that he started and he posts there same charts so...If you miss him well he is easy to find.
The Market pays you to be disciplined
  • #7,143
  • Nov 23, 2010 9:51am Nov 23, 2010 9:51am
I ain't very experienced in trading but i don't think any one tool no matter how good can be enough or perfect

I got stopped out today buying after what i thought were stopping volumes and ignoring the real chart

This week we probably have a date with the rising trendline at around 1.332 and if it bounces there twice or thrice it heads towards 1.395 and eventually 1.444

If the week/month closes below 1.346 and maybe it becomes resistance then it's headed to 1.2850

Attached Image (click to enlarge)
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Mind over matter..I don't mind and you don't matter.
  • #7,144
  • Nov 23, 2010 10:04am Nov 23, 2010 10:04am
Quoting JuliusCeasar
I ain't very experienced in trading but i don't think any one tool no matter how good can be enough or perfect

I got stopped out today buying after what i thought were stopping volumes and ignoring the real chart

This week we probably have a date with the rising trendline at around 1.332 and if it bounces there twice or thrice it heads towards 1.395 and eventually 1.444

If the week/month closes below 1.346 and maybe it becomes resistance then it's headed to 1.2850

Attachment
I tend to agree. I think I have the TL around 1.334 and if it holds, EURUSD has a tendency to consolidate at the channel edge, if it indeed is going to rise up. I've had a chart I'd built for this which I will try to clean up and post later.

I don't have a VSA perspective now because it is confusing for me. Had a beautiful entry in Asia on classic stopping volume, went to just above 1.36 and then euro armageddeon; got some profit but wasn't awake for the decline.

Fundamentals are clearly carrying us here. Nobody gives a rat's ass about the countries & their people, rather it's the debt their banks hold and the solvency of the debtors and originating banks scattered throughout Europe. Looking back, Greece was just a test case, and although the market rallied as the Greeks were saved, there was next to no talk of their bank problems - unlike the much more substantive banking issues we're now seeing with Ireland - perhaps that explains why there's been no euro rally with the Irish bailout. Plus, details aren't known yet. Reading forexlive.com, there is still some/decent buying at these levels by banks & sovereigns ... they're probably doing so on the above mentioned technicals - the big boys need to accumulate over large areas, so, let's hope they're right to do so.

I see we've just printed a doji star - usually a good sign for reversal, but on a H1 and strong trend I find candlesticks are almost worthless - usually amounts to just an abberation. And there it goes ... another low, into the London close.
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  • #7,145
  • Nov 23, 2010 10:11am Nov 23, 2010 10:11am
Quoting BackTestDummy
I don't want to argue over every post - I was merely suggesting that one uses their eyes and follows price. Predicting on a Friday as to where price is going to go on Monday is pure arrogance - and will eventually be punished by the market.
well ON FRIDAY I took longs on gu and eu at lows of day due to very valid vsa set ups

They both made over 100 pip

did the charts change on Sunday sure they did....I was a little late to react is all ..been very burnt out recently and brain a little slow.

Please go back in my posts.... I have made tons of awesome calls based on weekly and daily charts for moves that are thousands of pips. Mostly though , as today I day trade us / london overlap.

as for punished by market .. that is what stops are for.

Do you know what is pure arrogance... you coming in to my thread and spouting shit about the volume / vsa and market prediction not working . That is pure arrogance.

You trade off a 1 min chart , that I happen to think is suicide. Do I say you are a muppet for doing so ....NO . 1 min chart traders do not understand bigger picture and will also get punished by the market as you put it.

Must be the stress of xmas but man are there some tossers in this thread this week.
Blogging daily now at www.volume.zone
  • #7,146
  • Nov 23, 2010 10:17am Nov 23, 2010 10:17am
Quoting taomql4
Those are fighting words -BackTest , Let's all just try to be humble and try as much as possible to help eachother point out somethings others might have missed--Believe me , thats a very easy thing to do in this market..

MY reasons for Going short :

1 .They started selling early into my S/R levels

2 . Some buyers came in on the lows to be later absorbed ..

3. what looked like an END to Rising market occurred at the Resistance-

4 - Nasty Upthrust --then i knew it was over for EU--


See backtest---Doesn't cost much...Now , i gotta get...
Is that a 1min chart?
Seek not to change the world; seek only to change your mind about the world
  • #7,147
  • Nov 23, 2010 10:24am Nov 23, 2010 10:24am
Quoting Sonofsin5
Waiting on a setup/pullback on the gu if one appears. Very nasty price action through London and now a nice breakout. This knife has some room to fall.
Big knives fall hard
  • #7,148
  • Nov 23, 2010 10:25am Nov 23, 2010 10:25am
Quoting taomql4
Those are fighting words -BackTest , Let's all just try to be humble and try as much as possible to help eachother point out somethings others might have missed--Believe me , thats a very easy thing to do in this market..

MY reasons for Going short :

1 .They started selling early into my S/R levels

2 . Some buyers came in on the lows to be later absorbed ..

3. what looked like an END to Rising market occurred at the Resistance-

4 - Nasty Upthrust --then i knew it was over for EU--


See backtest---Doesn't cost much...Now , i gotta get...
Simply GREAT!. Thanks.
  • #7,149
  • Nov 23, 2010 10:27am Nov 23, 2010 10:27am
Quoting gez40
Is that a 1min chart?
I ONLY trade 1 hr(For the Daily Session) --5-10 min TF for Entry

when i feel like Gambling , i trade the 1 minute...
  • #7,150
  • Nov 23, 2010 10:29am Nov 23, 2010 10:29am
Quoting FXing
Simply GREAT!. Thanks.
NO worries...
  • #7,151
  • Nov 23, 2010 10:42am Nov 23, 2010 10:42am
Well EU never held above 1.36. Didn't really use volume today. At first I was confused as there were signs of buying. Then all that buying amounted to absolutely nothing so just went along with trend. Just one of those days I guess.
  • #7,152
  • Nov 23, 2010 10:42am Nov 23, 2010 10:42am
Quoting Intel
I'm not trading right now but if I were, I wouldn't be risking much on an up move just yet.
Ok I've been away playing golf, and I see the down move did materialise. Hope you all didn't get caught out by the false signals.
  • #7,153
  • Nov 23, 2010 10:43am Nov 23, 2010 10:43am
Quoting lascavel
Hi Polomine, Intel, long time no see..

That is where i think Wyckoff wave may help, as a possible accumulation maybe taking place right now...

From here a test back to PS level would be helpful to further ascertain this accumulation..

Attachment

Cheers!
Hey Las, gret to see you as always.
  • #7,154
  • Nov 23, 2010 10:45am Nov 23, 2010 10:45am
Quoting polomine
MTM says a good trading system is able to tell you as soon as possible that you get bad trades and should get out of them. Of course, VSA is a valid and powerful system.

So, malcolm, intel, lascavel or somebody else, could you post a chart and present when and where you change your mind and recover from bad trades?

Thanks in advance.
I'll prepare a chart showing what I saw and post in a short while.
  • #7,155
  • Nov 23, 2010 10:49am Nov 23, 2010 10:49am
Quoting Intel
Ok I've been away playing golf, and I see the down move did materialise. Hope you all didn't get caught out by the false signals.
GOLF...again? intel, you`ll never give Mal a run for his money with all this tee time...lol
Seek not to change the world; seek only to change your mind about the world
  • #7,156
  • Nov 23, 2010 11:01am Nov 23, 2010 11:01am
Looking at longer term time frames I am not really seeing any major areas of support until the 5770 area. We may still be able to drop a few more pips before this runs out of steam.
  • #7,157
  • Nov 23, 2010 11:03am Nov 23, 2010 11:03am
The gbp/usd down trend (background weakness) was looking quite strong so I was waiting for something like this. Missed this trade because I had to go out for a while.
Maybe catch one tomorrow.

Nice pullback rising on lower volume, increased volume through the support trend line and followed by a low volume up bar.



Happy Trading
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  • #7,158
  • Nov 23, 2010 11:43am Nov 23, 2010 11:43am
Nice trade

also of note is that GU at that bounce had not completed days range.

Off the top and using 144 pip that completed at 1.5806


Quoting Aspire
The gbp/usd down trend (background weakness) was looking quite strong so I was waiting for something like this. Missed this trade because I had to go out for a while.
Maybe catch one tomorrow.

Nice pullback rising on lower volume, increased volume through the support trend line and followed by a low volume up bar.



Happy Trading
Blogging daily now at www.volume.zone
  • #7,159
  • Nov 23, 2010 11:46am Nov 23, 2010 11:46am
It is possible that we could have entered long but the setup was a poor one. Some would have entered on the strength of the U, high volume bars but there is danger in that. It is branded about the thread that when we see an ultra high volume down bar closing off the lows, it means that SM are now buying.....this is not true. We should remember it means that POTENTIALLY SM are buying. We don't really know who is doing the buying so we must wait for conformation, we need SM to show their hand before we enter.

The big clue that all is not well, is when the SO low is broken. This will rarely happen if SM are pushing prices up. This rule does not always hold true but most of the time it's spot on. As a General rule of thumb, if we see u high volume without price rising fairly quickly, it means SM are selling.
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  • #7,160
  • Nov 23, 2010 11:51am Nov 23, 2010 11:51am
Mal, bit confused on this one, weakness in the form of an UT, the bar marked has me confused..down bar volume less than the previous 2.. no selling pressure?

..any ideas mate
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Seek not to change the world; seek only to change your mind about the world
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