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vsa with Malcolm

  • #7,421
  • Nov 30, 2010 3:21am Nov 30, 2010 3:21am
Quoting comapip
Thanks!

No problem.Here is a 1Hr chart from fxcm.
Attached Image (click to enlarge)
Click to Enlarge Name: Eur 1 hr.PNG Size: 81 KB
  • #7,422
  • Nov 30, 2010 3:39am Nov 30, 2010 3:39am
Hi guys,

Have been reading allot about the differences about trending and consolidating markets etc and stumbled upon volume and VSA.

Now I've read 'Master the Markets' and I have a couple of questions that I think the pro guys in this thread will have no problem answering..

Is there a difference between the volume in a consolidating (ranging) market or a trending?
I use the 'Volumes' indicator in MT5 and it doesn't seem like there is much difference.
Have I noticed something wrong here?

Thank you.
  • #7,423
  • Nov 30, 2010 3:57am Nov 30, 2010 3:57am
79 pips for today from a eurousd short finnaly out
  • #7,424
  • Nov 30, 2010 4:11am Nov 30, 2010 4:11am
Had a target at 1.297... Almost hit... Almost. Looking at daily the next support I see is around 1.29. But as always keep an eye on high volume bars and reaction after that.
  • #7,425
  • Nov 30, 2010 4:26am Nov 30, 2010 4:26am
Quoting comapip
Had a target at 1.297... Almost hit... Almost. Looking at daily the next support I see is around 1.29. But as always keep an eye on high volume bars and reaction after that.

Hi Comapip.

Did you enter a short position and from which time frame? If you don't mind me asking.Thanks
  • #7,426
  • Nov 30, 2010 5:04am Nov 30, 2010 5:04am
Entry was on 5m. Could've entered earlier but wanted to see if demand was absorbed.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu_m5_2010-11-30.png Size: 49 KB
Click to Enlarge Name: eu_m15_2010-11-30_2.png Size: 53 KB
  • #7,427
  • Nov 30, 2010 5:27am Nov 30, 2010 5:27am
Thanks Comapip.

Much appreciated.
  • #7,428
  • Nov 30, 2010 5:28am Nov 30, 2010 5:28am
Quoting Beljevina
If I'm reading your chart correctly, all your marked (peak) bars are getting hit by sellers - pros (and others) sell into strength. You can deduce this by the next bar(s) being down bars, so you know the volume was made up of sellers overwhelming buyers and the uptrend. Some minor buying support on the lower bars, but when you interpret the background of the visible chart and where we've come from, sellers are firmly in charge.
Believina.. Thanks for your feedback. Still a long learning curve to climb for me...
  • #7,429
  • Edited 7:21am Nov 30, 2010 6:21am | Edited 7:21am
Quoting comapip
Entry was on 5m. Could've entered earlier but wanted to see if demand was absorbed.
Should have used the 1 hr timeframe--Give Yourself some room to play !!!

That way--You have a chance to watch the 5 min TF and see
who is winning the battle before you close out..

Buyers are still getting arse kicked !!! and i get to keep my position --
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu1hr.jpg Size: 127 KB
Click to Enlarge Name: EU5.jpg Size: 117 KB
  • #7,430
  • Nov 30, 2010 6:29am Nov 30, 2010 6:29am
Quoting malcolmb14
es ... 10 min simple....

that one close to 1187.75 came up on TG as end of a rising market .. do not see those often .

Attachment
BTW , i think you are right about ES , might even go lower, maybe below 1150, it's sitting on some daily support now--once that weakens , there should be some crying on wallstreet

Don't think this is Good news for EU --
Attached Image
  • #7,431
  • Nov 30, 2010 8:05am Nov 30, 2010 8:05am
Quoting taomql4
BTW , i think you are right about ES , might even go lower, maybe below 1150, it's sitting on some daily support now--once that weakens , there should be some crying on wallstreet

Don't think this is Good news for EU --
Nice little mushroon top forming there, looks weak to me.
  • #7,432
  • Nov 30, 2010 8:15am Nov 30, 2010 8:15am
Quoting taomql4
Should have used the 1 hr timeframe--Give Yourself some room to play !!!

That way--You have a chance to watch the 5 min TF and see
who is winning the battle before you close out..

Buyers are still getting arse kicked !!! and i get to keep my position --
A good method for exiting.

If I find myself deep into a positive trade and I'm getting 'twitchy', I like to switch to the next higher TF than my original setup to look for exit signals. IE if I find a setup on M15 I will enter the trade. I will exit when I think the trade is done on the M15 again. However, if the trade goes my way without any exit signals and I'm up loads, I will now turn to the M30 chart and look for exit signals there.

I find that this approach keeps me in the trade much longer than I otherwise would have. It's not a definitive guide just what works for me (I have terrible trouble staying in trades)
  • #7,433
  • Nov 30, 2010 8:26am Nov 30, 2010 8:26am
If anyone is in an EU short, I think now (1.2980) is a good time to exit.
  • #7,434
  • Nov 30, 2010 8:28am Nov 30, 2010 8:28am
Quoting Intel
Ok. The second chart was wrong. Where I said there were buyers, I should have said there were POSSIBLY buyers but there turned out to be very little if any. Once you realise that the ultra high volume bars resulted in lower prices with no attempt to raise price at all, then the whole scenario changes. What once looked like a reasonable long setup, now looks short all the way.

The moral of this story is that if you want to enter the market, the background HAS to be in your favour. Just one simple missread of the charts would have you joining the...
VSA is all about background..agree to that, trying to read every bar is making hard work of it.

Been a few posts about buying EU, look at this EU 1hr....selling rallies all the way.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 44 KB
Seek not to change the world; seek only to change your mind about the world
  • #7,435
  • Nov 30, 2010 8:30am Nov 30, 2010 8:30am
Quoting Intel
A good method for exiting.

If I find myself deep into a positive trade and I'm getting 'twitchy', I like to switch to the next higher TF than my original setup to look for exit signals....
i think it's a little easier looking at the smaller timeframes because
things usually happen there before they show up on larger timeframes-

Like now , am watching buyers come in on the 5 EU, only to have a nd
show up again--so i stay still...until they prove themselves..
Attached Image (click to enlarge)
Click to Enlarge Name: EU5.jpg Size: 116 KB
  • #7,436
  • Nov 30, 2010 8:32am Nov 30, 2010 8:32am
Quoting gez40
VSA is all about background..agree to that, trying to read every bar is making hard work of it.

Been a few posts about buying EU, look at this EU 1hr....selling rallies all the way.

from a wider perspective
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 46 KB
Seek not to change the world; seek only to change your mind about the world
  • #7,437
  • Nov 30, 2010 8:51am Nov 30, 2010 8:51am
Quoting taomql4
i think it's a little easier looking at the smaller timeframes because
things usually happen there before they show up on larger timeframes-

Like now , am watching buyers come in on the 5 EU, only to have a nd
show up again--so i stay still...until they prove themselves..
Each to their own when exiting but consider this,

If you're in a trade short and the M5 shows signs of strength and a long setup appears, you would surely close out right? But what if, when you look at the M30 chart, it shows no signs of strength at all. What do you think will happen to the price? It will surely go up a little and then resume the downward move.

If you'd exited on the M5 you may have missed some profit. Thats assuming you didn't go long the re-enter short at the top
  • #7,438
  • Nov 30, 2010 9:09am Nov 30, 2010 9:09am
Quoting taomql4
BTW , i think you are right about ES , might even go lower, maybe below 1150, it's sitting on some daily support now--once that weakens , there should be some crying on wallstreet

Don't think this is Good news for EU --
es is highly volatile right now...

very easy to get 10 to 15 points a day using vsa on a 10 min and value area levels

so far today long off 1175 netted 5 points , now looks like sellers coming in at vwap 1179.5 should net another 5 plus down
Blogging daily now at www.volume.zone
  • #7,439
  • Nov 30, 2010 9:12am Nov 30, 2010 9:12am
Quoting Intel
Each to their own when exiting but consider this,

If you're in a trade short and the M5 shows signs of strength and a long setup appears, you would surely close out right? But what if, when you look at the M30 chart, it shows no signs of strength at all. What do you think will happen to the price? It will surely go up a little and then resume the downward move.

If you'd exited on the M5 you may have missed some profit. Thats assuming you didn't go long the re-enter short at the top
Is this enough ? For some traders , it's a days Job(daily range ended) -it depends on how greedy i am ..Plus , if there are no signs of strength on the 30 min TF .The 5 min TF wouldn't go far enough , without me even looking at the 30 min tF..

I think it all depends on how Greedy u are feeling...
Attached Image (click to enlarge)
Click to Enlarge Name: 5min.jpg Size: 117 KB
  • #7,440
  • Nov 30, 2010 9:15am Nov 30, 2010 9:15am
Quoting taomql4
Is this enough ? For some traders , it's a days Job(daily range ended) -it depends on how greedy i am ..Plus , if there are no signs of strength on the 30 min TF .The 5 min TF wouldn't go far enough , without me even looking at the 30 min tF..

I think it all depends on how Greedy u are feeling...
very valid buy patterns on that charts also ... do not ignore that
Blogging daily now at www.volume.zone
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