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vsa with Malcolm

  • #7,881
  • Dec 15, 2010 1:11am Dec 15, 2010 1:11am
A bit of supply hit the market just about at the level of the close of our Yao Ming bar.

The trend remains down as the Hull is falling (pink BG) and we are below the BPL. If price moves up and then we get a No Supply or a test, it's time to get long.
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #7,882
  • Dec 15, 2010 1:33am Dec 15, 2010 1:33am
Well, well, well!
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  • #7,883
  • Dec 15, 2010 1:38am Dec 15, 2010 1:38am
Long.
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #7,884
  • Dec 15, 2010 1:40am Dec 15, 2010 1:40am
Quoting HiddenGap
Long.
lol, i'm in exactly at the same price)
happy trading)
  • #7,885
  • Dec 15, 2010 1:46am Dec 15, 2010 1:46am
The results will be whatever they will be. The important thing is the process. Hope it helps a bit. In truth it was a bit aggressive entry but I just wanted to show the anatomy of a trade set-up in real time.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #7,886
  • Dec 15, 2010 1:49am Dec 15, 2010 1:49am
Check higher time frames . You will see the selling pressure. 1.3330 to 1.3280 major s/r on weekly but I think we may see 1.3200 test if this zone fails in london
Quoting HiddenGap
A bit of supply hit the market just about at the level of the close of our Yao Ming bar.

The trend remains down as the Hull is falling (pink BG) and we are below the BPL. If price moves up and then we get a No Supply or a test, it's time to get long.
Blogging daily now at www.volume.zone
  • #7,887
  • Dec 15, 2010 1:50am Dec 15, 2010 1:50am
Quoting HiddenGap
The results will be whatever they will be. The important thing is the process. Hope it helps a bit. In truth it was a bit aggressive entry but I just wanted to show the anatomy of a trade set-up in real time.
Entering according to 5M only sure is agressive. It gives more like scalping ideas.
  • #7,888
  • Dec 15, 2010 3:09am Dec 15, 2010 3:09am
Quoting HiddenGap
Long.
Hi HG,

How do you define a bar that is "No Selling Pressure" ?

Do you need to wait for the next bar to close higher also before you can label the previous bar as "NSP"?


Just want to compare your chart showing "NSP" versus the 1st bar of the "2 Bars Reversals", as that 1st bar may also be a "NSP" ?

Thanks.
  • #7,889
  • Dec 15, 2010 3:37am Dec 15, 2010 3:37am
Quoting foxybunny
Hi HG,

How do you define a bar that is "No Selling Pressure" ?

Do you need to wait for the next bar to close higher also before you can label the previous bar as "NSP"?


Just want to compare your chart showing "NSP" versus the 1st bar of the "2 Bars Reversals", as that 1st bar may also be a "NSP" ?

Thanks.
No Selling Pressure: a wide spread, or at least wider than the previous interval, down bar on volume less than the previous two bars that closes on or near its low. You do not need to wait for comfirmation to know that you have no selling pressure because the three (3) key elements are contradictory:

1. Increasing range
2. Close on or near the low of the range
3. Low volume-volume less than the previous two.

If there was really selling going on as #1 and #2 suggest, then the volume should not be going down.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #7,890
  • Dec 15, 2010 3:37am Dec 15, 2010 3:37am
Just my $0.02.

NSP is wider spread but less volume. Regarding 1st bar of reversal, it get more volume, that is sign of strength.

Quoting foxybunny
Hi HG,

How do you define a bar that is "No Selling Pressure" ?

Do you need to wait for the next bar to close higher also before you can label the previous bar as "NSP"?


Just want to compare your chart showing "NSP" versus the 1st bar of the "2 Bars Reversals", as that 1st bar may also be a "NSP" ?

Thanks.
  • #7,891
  • Dec 15, 2010 3:45am Dec 15, 2010 3:45am
Quoting Intel
A few annotations if you dont mind me ruining your chart
hello Intel,
I really like your chart, I am quite new here and sorry for my rookie question: where can I read what SO, ND and NS mean? when I tried to search FF fro VSA I got so many results. Is there a kind of summary, short description to get me familiar with general idea.
Thank you in advance
  • #7,892
  • Dec 15, 2010 4:00am Dec 15, 2010 4:00am
  •  jaboo
  • | Joined Dec 2009 | Status: Ray Comfort is....the banana man | 236 Posts
short closed for +47. Weakness in the backround + no demand trying to go up so i entered short at .5747.

had TP of .5688 but i closed a little before that.

Will now look for entries to long or continue down.
  • #7,893
  • Dec 15, 2010 4:12am Dec 15, 2010 4:12am
Like I said, a pretty aggressive entry. My journal will include this:

"Do not like the No Supply bar used as an entry. The bar makes a higher high and not a lower low than the previous bar. Would rather see a lower low and not a higher high or an inside bar in this situation........."

Other thoughts. Once you see the wide spread up bar on ultra high volume you need to be looking to move your inital stop or take some profits. This bar could be pushing thru supply as there is a top to the left, but the high volume should get your trade management plan working is some way. It turns out that supply did enter but price moves down on decreasing volume.

This bar may turn out to be key and actually set up a better and less aggressive short.
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #7,894
  • Dec 15, 2010 4:25am Dec 15, 2010 4:25am
AU 15min, anyone catch it?
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Seek not to change the world; seek only to change your mind about the world
  • #7,895
  • Dec 15, 2010 4:50am Dec 15, 2010 4:50am
what does SO stand for?
Quoting Intel
A few annotations if you dont mind me ruining your chart
  • #7,896
  • Dec 15, 2010 5:03am Dec 15, 2010 5:03am
Quoting piotr-fx
hello Intel,
I really like your chart, I am quite new here and sorry for my rookie question: where can I read what SO, ND and NS mean? when I tried to search FF fro VSA I got so many results. Is there a kind of summary, short description to get me familiar with general idea.
Thank you in advance

Start with reading "Master The Markets", find somewhere in attachment in this thread or other VSA thread.

Short form, people call it "MTM".
  • #7,897
  • Dec 15, 2010 5:03am Dec 15, 2010 5:03am
Quoting apple_sauce
what does SO stand for?
"SO" is "Shake Out".
  • #7,898
  • Dec 15, 2010 5:11am Dec 15, 2010 5:11am
So far I wouldn't go short or long. Shorting looks better though. One saving thing for longs is that price has yet to break support. On the other hand, it failed to break resistance. On daily there's an upthrust type bar so that's another thing to keep in mind.

On the chart I say 4 bad things for longs but it's more like 3 with the last bar forming. If we break higher or lower, I want to see a test to confirm direction.

So I'm staying away for now. One thing's certain though, I would've been stopped out on lower timeframes today for sure.
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  • #7,899
  • Dec 15, 2010 5:15am Dec 15, 2010 5:15am
Oh my god, support is holding and price is at resistance. Let's see if that holds. I hate price action today for some reason.
  • #7,900
  • Dec 15, 2010 8:16am Dec 15, 2010 8:16am
30 min eu showed stopping at 1.3190 ish however move cApped gu seems eAsier pair to play .eu stuck in that weekly s/r area

Quoting comapip
So far I wouldn't go short or long. Shorting looks better though. One saving thing for longs is that price has yet to break support. On the other hand, it failed to break resistance. On daily there's an upthrust type bar so that's another thing to keep in mind.

On the chart I say 4 bad things for longs but it's more like 3 with the last bar forming. If we break higher or lower, I want to see a test to confirm direction.

So I'm staying away for now. One thing's certain though, I would've been stopped out on lower timeframes today for sure.
Blogging daily now at www.volume.zone
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