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vsa with Malcolm

  • #8,081
  • Dec 21, 2010 6:07am Dec 21, 2010 6:07am
Well I haven't seen SMART marketing slogans but I agree it's not pure 100% VSA. I understand what you're saying there

And I see where "supply coming in" comes from. My logic would be something like this (bar by bar):

We've broken through the range on increasing volume, good. Also we're getting into active sessions of the trading day.

Next bar, okay, there's some selling as it's on increased volume, closing in the lower middle, spread narrower than previous. Has to be selling there. Also an older top. Let's see what next bar does.

Okay, it closed on the highs, through resistance on lower volume. That's a bit suspicious because this was the supply area previously unless selling was absorbed.

Next I would consider a test but with the next bar down I'd be worried. Well what came next is obvious.

Anyway, that's my logic. I'm definitely not pure vsa
  • #8,082
  • Dec 21, 2010 6:10am Dec 21, 2010 6:10am
Looks like accumulation on the 5 min.
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #8,083
  • Dec 21, 2010 6:12am Dec 21, 2010 6:12am
Quoting HiddenGap
Looks like accumulation on the 5 min.
100% agree with you on this one
  • #8,084
  • Dec 21, 2010 6:13am Dec 21, 2010 6:13am
Okay, I'm giving more away..........

Note the large volume on the narrow range up bar after the bar labeled supply entering.

If you draw a line at the close of this squat, as a trigger number or level, things become clear.

The test we see is of this level. It passes. Price moves up on the next bar and the volume is less than the previous two. But two intervals later we have a wide spread down bar that closes lower than the low of the test (and takes us below the trigger level). This is "no result from a test".
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #8,085
  • Dec 21, 2010 7:10am Dec 21, 2010 7:10am
This actually worked better on higher TF, but for the sake of continuing on 5min. it will be on 5min.

Had there not been a previous resistance level, I would have marked the high and close of last up bar and, in this case, the next down bar low. Marking close in this case would be quite useless. And that would have given me the same information I need for trading.

I respect your VSA skills and you are great at what you do. This is just something that works for me and it's what I accept as the best way to study a chart. Not saying it's the best way or even a good way, I might be completely wrong, but it has worked for me so far and I'm sticking to it.
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  • #8,086
  • Dec 21, 2010 7:10am Dec 21, 2010 7:10am
GU-H1

Take a look old bottom (at the same level) and compare volumes with this bottom.
  • #8,087
  • Dec 21, 2010 7:18am Dec 21, 2010 7:18am
Quoting HiddenGap
Looks like accumulation on the 5 min.
Hi HG!

Your posts on identifying weakness have been excellent, much appreciated. Personally I find it easier to identify weakness vs strength. Could you post a chart outlining SOS and when you would enter a long trade? For example, EU M15 appears to be showing SOS, but i'm still not confident in identifying accumulation vs (re)distribution. Any help you can provide there is much appreciated.

Thanks!
tg
Change is the only constant
  • #8,088
  • Dec 21, 2010 8:00am Dec 21, 2010 8:00am
Quoting HiddenGap
Looks like accumulation on the 5 min.
Indeed, seems it was.
Took 4 (demo) long positions in the morning, two already reached TP and the rest, with different TPs, have SL at BE.

I'm on "vacations from trading" for the 2nd week already, until somewhere around the 2nd week of January... from real trading, because I still take some trades on a demo account, just for not losing the hand of it, and for testing some different approaches of MM, concerning SLs and TPs, in order to incorporate those in my trading next year.

And it's proving to be worth it, with some good trades taken and overall better results.
The main points next year will be trying to be less active, by taking longer trades (less scalping and more daytrading)... I have weak eyes, so I want to avoid staring at charts all day long.


I wish you all a very good Christmas and a happy New Year, with lots of positive pips!
  • #8,089
  • Dec 21, 2010 8:39am Dec 21, 2010 8:39am
Good afternoon! Just discovered this thread.. and happy to see someone else is doing VSA here! just to understand.. are you using futures' volume right?
  • #8,090
  • Dec 21, 2010 8:59am Dec 21, 2010 8:59am
HG. I was banned form Shamus's thread a while back due to the same thing

He said ' hey look how smart noted a no demand at the top' ..lol that no demand was at 2pm pst when no market were open. In fact that sellers had hit market several hours earlier. when you develop a software and market it hard , means you cannot trade for shit

lol

Quoting HiddenGap
Sorry guys, a quick post here about another thread.

I was issued a challenge by Shamus in his last post, but suddenly I am banned from the thread. So he posts a challenge to me to post a chart then suspends my access. That way it looks like I backed down. It's shrewd but a lie.

I guess he realizes the truth: My argument has always been that anything SMART can do, the individual without SMART can do. Here is the chart I wanted to post in his thread.

I am particularly interested in seeing if SMART can pick up the three key bars...
Blogging daily now at www.volume.zone
  • #8,091
  • Dec 21, 2010 9:04am Dec 21, 2010 9:04am
EU 120 looks weak to me. This would trump possible strength seen in lower TFs...right?

EDIT: I think possible strength seen in 5/15M has now been negated.
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Change is the only constant
  • #8,092
  • Dec 21, 2010 9:09am Dec 21, 2010 9:09am
Quoting tgwhbb
EU 120 looks weak to me. This would trump possible strength seen in lower TFs...right?

EDIT: I think possible strength seen in 5/15M has now been negated.
this markets crap until new year. Have a good holiday everyone.
  • #8,093
  • Dec 21, 2010 9:18am Dec 21, 2010 9:18am
you mentioned the term "trigger number" a few times before. would you mind pointing me in the right direction where i can learn more about this concept?

Quoting HiddenGap
Okay, I'm giving more away..........

Note the large volume on the narrow range up bar after the bar labeled supply entering.

If you draw a line at the close of this squat, as a trigger number or level, things become clear.

The test we see is of this level. It passes. Price moves up on the next bar and the volume is less than the previous two. But two intervals later we have a wide spread down bar that closes lower than the low of the test (and takes us below the trigger level). This is "no result from a test".
  • #8,094
  • Dec 21, 2010 9:39am Dec 21, 2010 9:39am
Quoting apple_sauce
you mentioned the term "trigger number" a few times before. would you mind pointing me in the right direction where i can learn more about this concept?
the Tradeguider boys call trigger numbers as closes of stopping vol etc

for example in this chart we have potential buying climax with close 1.3194. This is a potential trigger number

sure enough price drifted a few pip higher then started meeting additional selling pressure. The entry was under that 1,3194 number on the doji style bar

In my chart it just so happens that 1.3194 was a high vol pivot from 8 days back

remember in vsa it is not about 1 bar .... it is about waiting for confirmation of strength or weakness. If you see stopping vol wait for the test to enter
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Blogging daily now at www.volume.zone
  • #8,095
  • Dec 21, 2010 10:33am Dec 21, 2010 10:33am
Quoting HiddenGap
Okay, I'm giving more away..........

Note the large volume on the narrow range up bar after the bar labeled supply entering.

If you draw a line at the close of this squat, as a trigger number or level, things become clear.

The test we see is of this level. It passes. Price moves up on the next bar and the volume is less than the previous two. But two intervals later we have a wide spread down bar that closes lower than the low of the test (and takes us below the trigger level). This is "no result from a test".
Your entry beats mine by about 1 pip. HG wins

I was watching what was going on in Shamus' thread. I wouldn't worry about it, you're far too sensible a person to get drawn into that kind of argument. I have never seen SMART other than his posts so I can't say if it is any good or not. One thing's for sure tho, it will never be as good as a knowledgeable trader. Maybe SMART can help traders become knowledgeable? If SMART doesn't show volume (is that true?), I'm not sure how much it can help.

Anyway, I've learnt the hard way, and I'm happy with where I am at the moment and as a trader, thats all that matters.
  • #8,096
  • Dec 21, 2010 10:41am Dec 21, 2010 10:41am
Quoting tgwhbb
EU 120 looks weak to me. This would trump possible strength seen in lower TFs...right?

EDIT: I think possible strength seen in 5/15M has now been negated.
In general, the higher TF will prevail but it's all relative. You are trying to identify moves on a chart. If you have done this correctly and entered at the correct point, you will make as much money on an M5 chart as you will on a daily. Identify the move and trade it accordingly using your MM plan. It makes no difference what TF you're watching.
  • #8,097
  • Dec 21, 2010 10:42am Dec 21, 2010 10:42am
Quoting malcolmb14
the Tradeguider boys call trigger numbers as closes of stopping vol etc

for example in this chart we have potential buying climax with close 1.3194. This is a potential trigger number

sure enough price drifted a few pip higher then started meeting additional selling pressure. The entry was under that 1,3194 number on the doji style bar

In my chart it just so happens that 1.3194 was a high vol pivot from 8 days back

remember in vsa it is not about 1 bar .... it is about waiting for confirmation of strength or weakness. If you see stopping...
Thanks Mal, +1
  • #8,098
  • Dec 21, 2010 10:44am Dec 21, 2010 10:44am
Quoting Martingale
Good afternoon! Just discovered this thread.. and happy to see someone else is doing VSA here! just to understand.. are you using futures' volume right?
Hi there Martingale.

Mal trades futures sometimes and I think maybe Sonofsin possibly does aswell but the rest of us mostly use spot. How long have you been using volume to trade? Do you use VSA?
  • #8,099
  • Dec 21, 2010 11:00am Dec 21, 2010 11:00am
Quoting Intel
In general, the higher TF will prevail but it's all relative. You are trying to identify moves on a chart. If you have done this correctly and entered at the correct point, you will make as much money on an M5 chart as you will on a daily. Identify the move and trade it accordingly using your MM plan. It makes no difference what TF you're watching.
Thanks Intel!

Looks like EU just established another trigger at 1.3132 on the 60m with stopping volume just need to wait for SV confirmation with up bar in following few hours. Also possible trigger around 1.3120 on the 15m - which coincides with yesterday's POC. If that is the case then we would like to see a low vol test somewhere between that range, is that right? As I said in previous post...i still have trouble with long entries
Change is the only constant
  • #8,100
  • Dec 21, 2010 2:10pm Dec 21, 2010 2:10pm
If you disregard a ND at 2pm pst then should you also disregard a test at the same time?
Quoting malcolmb14
He said ' hey look how smart noted a no demand at the top' ..lol that no demand was at 2pm pst when no market were open. In fact that sellers had hit market several hours earlier.
lol
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