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vsa with Malcolm

  • #7,541
  • Dec 1, 2010 6:30am Dec 1, 2010 6:30am
Quoting Intel
There was a valid setup long at 2998. 30 or 40 pips to be had.
Hi Intel

I was not expecting it to reached that level. Plus I also did not see setups that it would break other higher resistances. Another big miss.

I'm curious on what will be your entry point in this case and how do you usually handle your stops.
  • #7,542
  • Dec 1, 2010 6:31am Dec 1, 2010 6:31am
Quoting Intel
GU M30


Theres a reduction in volume on the up move now. Try going to M5 for an entry for a few pips.
It did indeed retrace. Did anyone find an entry?
  • #7,543
  • Dec 1, 2010 6:45am Dec 1, 2010 6:45am
Quoting Stackhouse
Hi Intel

I was not expecting it to reached that level. Plus I also did not see setups that it would break other higher resistances. Another big miss.

I'm curious on what will be your entry point in this case and how do you usually handle your stops.

SL is set a couple of pips below the low of the SO at 2965 with an entry of 2996. Therefore the R:R 1:1 TP is at 3027. I do not always use this for TP setting tho, it depends on where the setup is.
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  • #7,544
  • Dec 1, 2010 6:46am Dec 1, 2010 6:46am
asia up
europe stock market up

massive buying on 2 hour in back ground

= look to buy dips
Odd though .. all the indexes up big time .... yet gu only moved 70 pis in london .

Maybe us session will have the balance but now 15 min has lower high

Quoting foxybunny
My 25th VSA Trade (Live).

Executed Order.
GBP/USD - Short
Date: 30-Nov-10
Time: Alpari 17:45
Entry: 1.5568
Initial SL: 1.5598 (-30 pips)
Initial TP (A): 1.5538 (+30 pips)
Initial TP (B): 1.5508 (+60 pips)

Reasons:
Note the Red vertical line, the bar after this line is my signal bar.
M15 show wide...
Blogging daily now at www.volume.zone
  • #7,545
  • Dec 1, 2010 6:52am Dec 1, 2010 6:52am
Quoting dragan53
try to look at fundementals ,like record bond yields in portugal,spain,ireland belgium germany,it shows that none wants them
why did it rise in tokyo ,because china is dropping the dollar and asian central banks are buying euro
Hey dragan

Fundamentals and other macroeconomic factors surely affects currency direction. What I still was expecting to see were vsa setups prior the 70 pip down move which there was none I think.

I was wondering also if price could move in such a case without a setup.

Thanks also for providing your source of news info.
  • #7,546
  • Dec 1, 2010 7:18am Dec 1, 2010 7:18am
Quoting malcolmb14
asia up
europe stock market up

massive buying on 2 hour in back ground

= look to buy dips
Odd though .. all the indexes up big time .... yet gu only moved 70 pis in london .

Maybe us session will have the balance but now 15 min has lower high
not convinced of the mid term upswing just yet......

BTW keep in mind, one time audit the fed comes out today. May be having an effect....
  • #7,547
  • Edited 7:45am Dec 1, 2010 7:29am | Edited 7:45am
Quoting malcolmb14
asia up
europe stock market up

massive buying on 2 hour in back ground

= look to buy dips
Odd though .. all the indexes up big time .... yet gu only moved 70 pis in london .

Maybe us session will have the balance but now 15 min has lower high

Thanks Mal.

In Long GU about 1hr ago at 1.5607.
I was looking to buy on dip and Test.

Just notice the news now, see if can handle it.

See what happens.

I noticed that I been Short for last 17 trades, this is like first Long for a long time.

Also that when I choose a pair, in this case GU, it is the other pair (EU or EJ) that move better. Arhh!!

Need to figure out which pair will move faster, have to keep my eyes on EUR/GBP and USD/JPY to see the effect.


Edit: Mal, you said "lower high" in GU-M15. I see "higher low" instead. Where is the "lower high"?
  • #7,548
  • Dec 1, 2010 7:40am Dec 1, 2010 7:40am
Hi there,
nice SO after news, on EU M15... € won't go down today.. (by now)

Many pips,
Indiana
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  • #7,549
  • Dec 1, 2010 7:55am Dec 1, 2010 7:55am
Quoting Indiana Pips
Hi there,
nice SO after news, on EU M15... € won't go down today.. (by now)

Many pips,
Indiana
something odd with eu break out. I played it also and took 13 pip only.

supply hit the market 1.3130 and stopped it.
Blogging daily now at www.volume.zone
  • #7,550
  • Dec 1, 2010 8:00am Dec 1, 2010 8:00am
Quoting malcolmb14
something odd with eu break out. I played it also and took 13 pip only.

supply hit the market 1.3130 and stopped it.
overall though if 60 min charts keeps getting those high vol tests i think we see 1.33 before end of week
Blogging daily now at www.volume.zone
  • #7,551
  • Dec 1, 2010 8:03am Dec 1, 2010 8:03am
Quoting malcolmb14
something odd with eu break out. I played it also and took 13 pip only.
supply hit the market 1.3130 and stopped it.
Yep, I agree Mal.. I'm out too... took my 20 pips. Fair enough !
Maybe is gonna rise again.. or EORM is forming.. who knows lol..
Btw daily range is completed.

Many pips,
Indiana
  • #7,552
  • Dec 1, 2010 8:04am Dec 1, 2010 8:04am
Quoting malcolmb14
something odd with eu break out. I played it also and took 13 pip only.

supply hit the market 1.3130 and stopped it.

some supply from yesterday perhaps?
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Seek not to change the world; seek only to change your mind about the world
  • #7,553
  • Dec 1, 2010 9:20am Dec 1, 2010 9:20am
Really jerking us around today on the majors. 15 min eur has major supply at 3120, careful longs.
  • #7,554
  • Dec 1, 2010 9:42am Dec 1, 2010 9:42am
Back from town. I see things have been panning out quite nicely while I was away. Time to exit GU shorts. I wonder how many of you found the entry????? Not so easy to see that one. 96 pips max from the EJ long, hope you're all out of that one.
  • #7,555
  • Dec 1, 2010 10:18am Dec 1, 2010 10:18am
Quoting Intel
Back from town. I see things have been panning out quite nicely while I was away. Time to exit GU shorts. I wonder how many of you found the entry????? Not so easy to see that one. 96 pips max from the EJ long, hope you're all out of that one.
Did not see what you saw today on GU or EJ.
  • #7,556
  • Dec 1, 2010 10:45am Dec 1, 2010 10:45am
Quoting Sonofsin5
Personally I do not like trading anything but the London and US sessions since the majority of the major price moves happen during this time and professional activity is being conducted with greater volume making it easier to see on a chart. During the London session to the US close, volume will always be greater than at any other point in the day with the exception of major news events that catch the markets "off guard."
..........
I agree. Same experience here. Just want to hear affirmation from others.

Thank you.
  • #7,557
  • Dec 1, 2010 10:59am Dec 1, 2010 10:59am
Everyone see the power of a bankers lip, look at what just happened.
  • #7,558
  • Dec 1, 2010 11:07am Dec 1, 2010 11:07am
Quoting Sonofsin5
Everyone see the power of a bankers lip, look at what just happened.
Hi Sonofsin5,

EU Short just got hit SL. Huge move like 100pips.

What happened just now ?

Who spoke ?

Thanks,
FB.
  • #7,559
  • Dec 1, 2010 11:18am Dec 1, 2010 11:18am
Quoting Stackhouse
I agree. Same experience here. Just want to hear affirmation from others.

Thank you.
At my early stages of learning, I used to trade a little during Asia - but always thought it is generally too slow, and setups are not so clear.

It is my regular sleeping time, so the only thing I do now is, when I'm still up, follow the opening, because sometimes we get clear indications about the direction of the rest of the session - and if we are near a support or resistance area, I take a trade and go to sleep.

Last night was a good example of that - start of session supported by yesterday's lows on EU, so I took a long.
Result wasn't so good, but it was my bad - misplaced the SL and it was hit by 0.7 pips.

Quoting Sonofsin5
Everyone see the power of a bankers lip, look at what just happened.
I don't know what or who caused that - I had a long GU taken just below today's open, as it was being bought there again - TP at today's open... was slowly falling asleep on the couch watching TV, when I saw the big spike and TP hit.

Was it Barnier saying they don't plan to ban high frequency trading?
  • #7,560
  • Dec 1, 2010 11:20am Dec 1, 2010 11:20am
http://www.bloomberg.com/news/2010-1...-declines.html
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