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vsa with Malcolm

  • #7,841
  • Dec 13, 2010 5:25am Dec 13, 2010 5:25am
After a bit of a scare EU working out as planned. Half hour left until bar close but so far so good. I'll be looking at tests (on reduced volume preferably) at various support levels if it closes on the highs. Anyway, chart attached.
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  • #7,842
  • Dec 13, 2010 6:02am Dec 13, 2010 6:02am
Quoting Taiboyce
Hello everybody This is my first post I have a very good teacher, took me into the VSA tutorial. Thank you for your selfless sharing of experiences, from now on I will join you. This is my first deputy chart represents my point of view.

A. We have a background of buyers into the market of buyers
B .high vol and up bar =buyer
C. if the market here, I have a LONG test
it's a good trader on monday
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  • #7,843
  • Dec 13, 2010 9:48am Dec 13, 2010 9:48am
This is the hourly euro futures.

I've been too busy to trade at my computer so I've been placing limit orders at supply and demand levels for the past 5 weeks with success.

For a few weeks my schedule is going to allow me to be around during active market hours, and I have time to make some observations regarding volume and these levels.

A huge volume spike at a supply level could mean stacks of sell orders by institutions.
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  • #7,844
  • Dec 13, 2010 11:39am Dec 13, 2010 11:39am
Bar by bar explanation, comments welcome.

A. First bar to show some buying, closing in the midle on very high volume. Buyers surely entering here. The next bar is lower volume downbar just more than half the volume of the bar before it, this must mean that there coudnt be to many sellers.

B. Another bar, thinner spread, closing above the middle on high volume.

C. This bar and the previous one are both down bars on average to low volume, this move wont go down further.

D. Is the first test like bar, for this is way to early to long, rather wait for the double bottom.

E. Breaks the low of the test bar but ends up closing above the middle on increased volume.

By now the strength is apparent, we've seen buying in high volumes and no selling.

F. It start to move up, because of the low volume down bar marked on the chart.

Luckily it comes back for a potential double bottom.

G. Now after these 2 bars it should be slapping you in the face. If not, then your emotions are prohibiting the way you trade.

** Now this is where trade management comes in. A good management plan would be to set a stop. And set a target to take of half. A easy 30 pips to be made on the first half if you closed it somewhere near the top of F. Leaving the rest of your profits to run. The first bars that scared me was the ones marked O and X. That's the exit for the second half.

Hope you guys found it useful, peace.

http://i865.photobucket.com/albums/a...omvsasetup.jpg
  • #7,845
  • Dec 13, 2010 2:16pm Dec 13, 2010 2:16pm
Wondering if EU is forming a range. That's one huge daily bar for a Monday. Don't know if daily volume is trustworthy, but it's a bit low for this spread. A few hours to go until close but still.
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  • #7,846
  • Dec 13, 2010 3:06pm Dec 13, 2010 3:06pm
Quoting comapip
Wondering if EU is forming a range. That's one huge daily bar for a Monday. Don't know if daily volume is trustworthy, but it's a bit low for this spread. A few hours to go until close but still.
The closer we get to the holdiays and the year end the more we have to question moves like the one we saw today. It was a joy to trade but I do not like seeing ranges this large on Mondays on little news and volume.
  • #7,847
  • Dec 13, 2010 6:29pm Dec 13, 2010 6:29pm
Nothing to do with vsa ... The only reason eu moves 200 easy pips on a Monday is cause I am not trading and in Vegas lol

Remember we kept on talking about eu accumulation last week . I was following asia pa on iPhone with one eye on dealer and one eye on iPhone when I saw that dip to 1.3180'in asia had this hunch it would take off



Quoting Sonofsin5
The closer we get to the holdiays and the year end the more we have to question moves like the one we saw today. It was a joy to trade but I do not like seeing ranges this large on Mondays on little news and volume.
Blogging daily now at www.volume.zone
  • #7,848
  • Dec 13, 2010 6:37pm Dec 13, 2010 6:37pm
malcolm do u read the news to forecast where its gonna go ?
i find it easier by looking at news ,it always goes by their way,like the german minister said today dont sell the euro,and that germany is not going to accept eurbonds,and the rising us bonds,do u ever look at that when trading vsa,i followed elliot wave and news and made some pretty nice pips,but got out on 50 on eurusd,missed the other 150
  • #7,849
  • Dec 13, 2010 7:12pm Dec 13, 2010 7:12pm
The less I look at News the better I do . Everything we need to know is in the charts

Quoting dragan53
malcolm do u read the news to forecast where its gonna go ?
i find it easier by looking at news ,it always goes by their way,like the german minister said today dont sell the euro,and that germany is not going to accept eurbonds,and the rising us bonds,do u ever look at that when trading vsa,i followed elliot wave and news and made some pretty nice pips,but got out on 50 on eurusd,missed the other 150
Blogging daily now at www.volume.zone
  • #7,850
  • Dec 13, 2010 7:16pm Dec 13, 2010 7:16pm
  •  jaboo
  • | Joined Dec 2009 | Status: Ray Comfort is....the banana man | 236 Posts
I wasnt paying attention so i missed the most obvious place to buy which would have been after the test, i got in a little late.

I did unfortunately get stopped out at B/E. Looking at the 5/15 minute charts the small drop before move up was rather predictable.

But i wanted to share my trade set up today.
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  • #7,851
  • Dec 14, 2010 2:49am Dec 14, 2010 2:49am
Is suply entering the market?, im still a noob in VSA but I would like if there is any suply right now on the 0.618 fib (22/11-30/11). Any one could analize it pls?

ty
Greetings, BeLikewater
  • #7,852
  • Dec 14, 2010 3:46am Dec 14, 2010 3:46am
Quoting BeLikeWater
Is suply entering the market?, im still a noob in VSA but I would like if there is any suply right now on the 0.618 fib (22/11-30/11). Any one could analize it pls?

ty
Assuming that's about EU then yeah, supply hit but we have not broken support yet and down bars closing in the middle or high. Waiting for this bar to close on the high for a possible long. Also would be wise to mark the upthrust bar as resistance.
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  • #7,853
  • Dec 14, 2010 9:26am Dec 14, 2010 9:26am
Will this be a "sell the rumor buy the fact day" before the FOMC. I'll post my one trade for the day so far which was a loss,(we all take a hit sometimes.)

I wonder if any other traders saw this. The chart is a 15 min time-frame. The ultra-high volume pin/test bar was in the right place testing the area of demand which had previously taken the market to 3500. I ruled out the 2bar reversal behind me as well as the multiple nd's on the chart to my injury.

Now we have some volume coming in at the 3380 level which may prove able to hold the market in this area until FOMC later today.
Attached Image (click to enlarge)
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  • #7,854
  • Dec 14, 2010 9:38am Dec 14, 2010 9:38am
Sonofsin5, I'm new to VSA and I could be wrong, but I think it was not confirmed test, just stopping volume, which could happen few more times in this downtrend
  • #7,855
  • Dec 14, 2010 9:49am Dec 14, 2010 9:49am
Quoting McL
Sonofsin5, I'm new to VSA and I could be wrong, but I think it was not confirmed test, just stopping volume, which could happen few more times in this downtrend
You are correct, however it was a ultra high test into a area of previous demand in a up-trending market. Like I said tricky, but a learning experience.
  • #7,856
  • Dec 14, 2010 11:19am Dec 14, 2010 11:19am
Quoting Sonofsin5
Will this be a "sell the rumor buy the fact day" before the FOMC. I'll post my one trade for the day so far which was a loss,(we all take a hit sometimes.)

I wonder if any other traders saw this. The chart is a 15 min time-frame. The ultra-high volume pin/test bar was in the right place testing the area of demand which had previously taken the market to 3500. I ruled out the 2bar reversal behind me as well as the multiple nd's on the chart to my injury.

Now we have some volume coming in at the 3380 level which may prove able to hold the market...
I was watching the same thing but still thought to wait the confirmation for that on 10M, but didn't happen. It was sold down fast.
  • #7,857
  • Dec 14, 2010 11:44am Dec 14, 2010 11:44am
iPhone trading looks lie 30 min stopping in 1.3400 area . Kind ok testing demand I would not be surprised to see 1.3500 spike on fomc

Quoting Sonofsin5
Will this be a "sell the rumor buy the fact day" before the FOMC. I'll post my one trade for the day so far which was a loss,(we all take a hit sometimes.)

I wonder if any other traders saw this. The chart is a 15 min time-frame. The ultra-high volume pin/test bar was in the right place testing the area of demand which had previously taken the market to 3500. I ruled out the 2bar reversal behind me as well as the multiple nd's on the chart to my injury.

Now we have some volume coming in at the 3380 level which may prove able to hold the...
Blogging daily now at www.volume.zone
  • #7,858
  • Dec 14, 2010 11:54am Dec 14, 2010 11:54am
Quoting malcolmb14
iPhone trading looks ........
My man-crush continues to grow.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #7,859
  • Dec 14, 2010 11:56am Dec 14, 2010 11:56am
Quoting HiddenGap
My man-crush continues to grow.
iphone trading in vegas to boot.
  • #7,860
  • Dec 14, 2010 12:17pm Dec 14, 2010 12:17pm
Vegas and fx are no different . One minute you have doubled your account the next blown it . I blame it in the gin and tonics ... Lol

Quoting Sonofsin5
iphone trading in vegas to boot.
Blogging daily now at www.volume.zone
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