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vsa with Malcolm

  • #7,361
  • Nov 28, 2010 10:43am Nov 28, 2010 10:43am
last 5 week before dip was the distribution phase. I kept on talking about it. Showed a few daily charts why

Quoting Mtm
Hi Scrat, Can i know where do you get the "yellow arrows shows selling, blue arrows show buying" indicator? is it for mt4? Thanks.




Hi Mal, last week i also spotted a lot buying on dips, and i was so sure price was going to go up, but it didn't.. up till now, i still unable to figure out at which part did the 'hidden selling' took place to cause price to fall.. did you manage to spot the part where we missed the selling/distribution phase took place before the plunge? pls enlighten me.. thanks.
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  • #7,362
  • Nov 28, 2010 10:51am Nov 28, 2010 10:51am
Your entry may have been valid and in fact did result in a down move.

However the bar noted here was a clear test.

One reaosn i do not trade crosses any more using vsa is due to that fact that they are just so hard. giving false signals. If you do trade crosses you better understand the underlaying currencies.

JPY coming off a major oversold area and 15 year low with Korea tension heating up . Euro bail out of Ireland deals being announced this weekend and if interest rates on loan 5.2% may provide relief to euro. even if only of a temp nature.





Quoting foxybunny
24th VSA EUR/JPY - Short

My 24th VSA Trade (Live).
Executed Order.
EUR/JPY - Short
Date: 26-Nov-10
Time: Alpari 16:00
Entry: 111.26
Initial SL: 111.56 (-30 pips)
Initial TP: 110.96 (+30 pips)

Reasons:
Note the Red vertical line, the bar after this line is my signal bar.
High Volume Sellers....
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  • #7,363
  • Nov 28, 2010 10:52am Nov 28, 2010 10:52am
Quoting foxybunny
Thanks gez40.

For VSA #23 EUR/JPY-Short, I chose to ignore Buyers because I thought that background show more WEAKNESS recently, and also with the 3 wicks bounced of Resistance 111.10.

I still believe Eur/Jpy is Weak.

You are right about the MACD.
Even though I do have MACD, and I do like MACD, recently with looking at VSA, I seem to forget about MACD is there!!

Hi Foxy,

The difference between these trades is that on the first trade there was a legitimate VSA setup, and you entered at about the right place.

The other 2 trades contained no setup at all, you entered because you THOUGHT price looked like it should go down. The most common mistake with just about any trading style.

You MUST wait for a full setup or you will make the same mistakes over and over again.
  • #7,364
  • Nov 28, 2010 11:01am Nov 28, 2010 11:01am
Quoting malcolmb14
One reaosn i do not trade crosses any more using vsa is due to that fact that they are just so hard. giving false signals. If you do trade crosses you better understand the underlaying currencies.
Malc
I am just a vsa newbie so I just need clarification.
I understand about knowing the political and fundamental situation of the cross would be helpful. Can you explain more about how they show false signals and what can vsa traders do about i ?
Thanks!
  • #7,365
  • Nov 28, 2010 11:04am Nov 28, 2010 11:04am
Quoting Stackhouse
Malc
I am just a vsa newbie so I just need clarification.
I understand about knowing the political and fundamental situation of the cross would be helpful. Can you explain more about how they show false signals and what can vsa traders do about i ?
Thanks!

stick to majors ... they are way easier.

also if you must trade crosses , use a trend indie like an rsx ... and never trade against it

Do not ignore higher time frames either , I always look 30 min before trading a 10 min ... here ie ej and why that trade was doomed to fail

60 min was sold 20 pip above MAJOR support and had a pin one bar before being sold

30 min pin and then test. The sell was on the test BUT the rsx was green

To be honest I think we see a gap up in euro based on Fridays PA
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej 60 01.gif Size: 64 KB
Click to Enlarge Name: ej 30 01.gif Size: 47 KB
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  • #7,366
  • Nov 28, 2010 11:30am Nov 28, 2010 11:30am
Malc
Thank you much for responding.
Honestly, I was expecting a possible one sentence answer from you. But what you did by taking the time to include images with your wise advice really show your eagerness to mentor and share to those who are eager to understand vsa better.
More power to you and this thread and to all the various contributors who make this thread alive !!
  • #7,367
  • Nov 28, 2010 11:37am Nov 28, 2010 11:37am
Quoting malcolmb14
stick to majors ... they are way easier.

also if you must trade crosses , use a trend indie like an rsx ... and never trade against it

Do not ignore higher time frames either , I always look 30 min before trading a 10 min ... here ie ej and why that trade was doomed to fail

60 min was sold 20 pip above MAJOR support and had a pin one bar before being sold

30 min pin and then test. The sell was on the test BUT the rsx was green

To be honest I think we see a gap up in euro based on Fridays PA
Mal, totally confused by your post, is this not a test after the pin and therefore a buy? volume lower than the previous five, prices marked down to close on the highs..no supply?
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 42 KB
Seek not to change the world; seek only to change your mind about the world
  • #7,368
  • Nov 28, 2010 11:54am Nov 28, 2010 11:54am
Quoting gez40
Mal, totally confused by your post, is this not a test after the pin and therefore a buy? volume lower than the previous five, prices marked down to close on the highs..no supply?
Yes you are right. I would have taken the test about 5 bars after the original pin bar with higher low
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  • #7,369
  • Nov 28, 2010 11:55am Nov 28, 2010 11:55am
Quoting malcolmb14
Yes you are right. I would have taken the test about 5 bars after the original pin bar with higher low
Thanks for clearing that up mate.
Seek not to change the world; seek only to change your mind about the world
  • #7,370
  • Nov 28, 2010 12:04pm Nov 28, 2010 12:04pm
Quoting Stackhouse
Malc
Thank you much for responding.
Honestly, I was expecting a possible one sentence answer from you. But what you did by taking the time to include images with your wise advice really show your eagerness to mentor and share to those who are eager to understand vsa better.
More power to you and this thread and to all the various contributors who make this thread alive !!
I think best way for me not to have a deluge of posts saying I am doji and other bs, is is best to throw up some charts of trades that worked and why . This will benefit others and aid them in their trading I hope. Why let this thread get spoiled by a handful of people with issues.

That is why I took the time to post a couple of charts to show why this trade was not the best. I always prefer to wait for a break down of support then look for an up move with a no demand bar
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  • #7,371
  • Edited 12:56pm Nov 28, 2010 12:47pm | Edited 12:56pm
Quoting gez40
Mal, totally confused by your post, is this not a test after the pin and therefore a buy? volume lower than the previous five, prices marked down to close on the highs..no supply?
A question for you gez:-

In Mals chart, why not use the test that you pointed out, to enter long?
  • #7,372
  • Nov 28, 2010 1:28pm Nov 28, 2010 1:28pm
further to this post ...

Ireland bail out deal signed sealed and delivered .

current price 1.3310

Quoting malcolmb14
very interesting 30 min on Friday

Could this be sign strength for an up leg of 200 to 300 pip or just Friday profit taking ?

form vsa principles strength is there ...

form left to right
down bar uh vol next bar up ..has to be professional buying
down bar closing off lows with high vol
test ... gave three bars up
4th one a little confusing ....almost a higher test , but then with no vol in US session market just fell into lows of day.

I would call Friday a sign of strength

Just got to see how next week plays out

Attachment

Attachment ...
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  • #7,373
  • Nov 28, 2010 2:16pm Nov 28, 2010 2:16pm
not for mt. i use ensign platform, and i adapted one of their indicators to show the ask-bid balance.

Quoting Mtm
Hi, can i know where do you get the indicators for "yellow arrows shows selling, blue arrows show buying" on your chart? is it for mt4? Thanks.
Nihil Sine Deo.
  • #7,374
  • Nov 28, 2010 9:35pm Nov 28, 2010 9:35pm
Its hard to be an EU bull these days , but check out this 30 min chart

they almost did a fake out in Asia with stopping volume. I am going to be looking for further strength and a test 1.3350 to 1.3450 in London .

Attached Image (click to enlarge)
Click to Enlarge Name: chart3146.gif65.png Size: 182 KB
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  • #7,375
  • Nov 28, 2010 10:40pm Nov 28, 2010 10:40pm
Hi Malcolm

Am new to this thread. Hv a question for you:

I assume you are using TradeGuider software. How does it get & show volume? As we know, spot fx is NOT centralized like equity...

Thx & happy trdg!

Quoting malcolmb14
Its hard to be an EU bull these days , but check out this 30 min chart

they almost did a fake out in Asia with stopping volume. I am going to be looking for further strength and a test 1.3350 to 1.3450 in London .

Attachment
  • #7,376
  • Nov 28, 2010 11:37pm Nov 28, 2010 11:37pm
Quoting CollectPIPS
Hi Malcolm

Am new to this thread. Hv a question for you:

I assume you are using TradeGuider software. How does it get & show volume? As we know, spot fx is NOT centralized like equity...

Thx & happy trdg!
tick volume thru esignal 200 source gtis feed , may as well be centralized. Interbank fx has a pretty decent feed also
Blogging daily now at www.volume.zone
  • #7,377
  • Nov 29, 2010 12:22am Nov 29, 2010 12:22am
Quoting malcolmb14
Its hard to be an EU bull these days , but check out this 30 min chart

they almost did a fake out in Asia with stopping volume. I am going to be looking for further strength and a test 1.3350 to 1.3450 in London .

Attachment
My interpretation is the gap up was a cheat.....a no cost manipulation to attain higher ground, where they proceeded to short the crap out of it....all the way back down, and THEN some! Of course, the euro traders might pump it too, but the asian manipulation only took it as far as previous support, now resistance, so it is unlikely it will go much further than that. They might not be able to manipulate it even to the Daily Pivot, since anyone watching this PA knows the euro is in deep trouble, and a lot of "sellers" should be just sitting there waiting for the euro pump (Frankfurt/London) to short into it.

WARNING: Speculation!
Attached Image(s) (click to enlarge)
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  • #7,378
  • Nov 29, 2010 12:51am Nov 29, 2010 12:51am
being bought thru asia ... not sure if this is sign of london action

and right now tests on 15 min

Attached Image (click to enlarge)
Click to Enlarge Name: chart3146.gif67.png Size: 188 KB
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  • #7,379
  • Edited 5:18am Nov 29, 2010 4:41am | Edited 5:18am
Quoting Intel
A question for you gez:-

In Mals chart, why not use the test that you pointed out, to enter long?
Yea, that was kinda my point, foxybunny saw strength but chose to ignore it thinking there was more weakness, the 30min looked strong with the test after the pin, although, you`ve probably seen something else and will now fill me in, i am still learning after all...lol

Bet it`s a bugger looking for golfballs in this snow.
Seek not to change the world; seek only to change your mind about the world
  • #7,380
  • Nov 29, 2010 6:04am Nov 29, 2010 6:04am
Not trading today as always but some interesting developments in EU. I would be slightly bullish above 1.318 but have to be cautious.
Attached Image (click to enlarge)
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