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vsa with Malcolm

  • #8,741
  • Jan 4, 2011 9:15am Jan 4, 2011 9:15am
AU M15

Could see a good drop if it breaks the 1.0052 level.
  • #8,742
  • Jan 4, 2011 9:28am Jan 4, 2011 9:28am
Quoting Intel
AU M15

Could see a good drop if it breaks the 1.0052 level.
More questions!

I was looking at this earlier and I was thinking possible strength at the close of the 1pm GMT bar. What in turn makes you think weakness?
  • #8,743
  • Edited 9:44am Jan 4, 2011 9:33am | Edited 9:44am
Quoting KinsaleForex
More questions!

I was looking at this earlier and I was thinking possible strength at the close of the 1pm GMT bar. What in turn makes you think weakness?
I didnt think the last WS downbar on surge vol (the bar which KinsaleForex had pointed out in post #8745) had enough buying in it to make the price wanna go up.. what i see is on the series of downbars prior to this did not have a lot of buying in them - on AU H1

My guess on the weakness that could have brought about the possible drop Intel was talking about was from the distribution phase that started at the top.. but then, i could be wrong
any advise on this Intel?
  • #8,744
  • Jan 4, 2011 9:37am Jan 4, 2011 9:37am
I took the wide spread down on high volume as potential strength, of course I could be wrong and it's looking like I am. If you could explain to me why that'd be great. Sometimes I can be a bit literal with the high volume side of things.

P.S. And Eddie just hit where my profit target would've been!
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  • #8,745
  • Jan 4, 2011 9:38am Jan 4, 2011 9:38am
Quoting KinsaleForex
Do you have a profit target set?
Yes I do, when I place a trade, it will also place sl and tp automatically. Then I will move tp and sl as I will.
  • #8,746
  • Jan 4, 2011 9:42am Jan 4, 2011 9:42am
Quoting KinsaleForex
I took the wide spread down on high volume as potential strength, of course I could be wrong and it's looking like I am. If you could explain to me why that'd be great. Sometimes I can be a bit literal with the high volume side of things.

P.S. And Eddie just hit where my profit target would've been!
Not sure, but I think the UT after the wide spread down is more important as it rejects the 1.0090 area which is today's and 12/24 POC.
Change is the only constant
  • #8,747
  • Jan 4, 2011 9:50am Jan 4, 2011 9:50am
Quoting tgwhbb
Not sure, but I think the UT after the wide spread down is more important as it rejects the 1.0090 area which is today's and 12/24 POC.
I see what you're saying, but I don't really see that as an upthrust. I thought they had to be into more open ground. Like on hourly EUR/USD. What do you make of the current volume coming up to the hourly close? (on Ozzie i mean) It's pretty high!
  • #8,748
  • Jan 4, 2011 10:00am Jan 4, 2011 10:00am
Quoting KinsaleForex
I see what you're saying, but I don't really see that as an upthrust. I thought they had to be into more open ground. Like on hourly EUR/USD. What do you make of the current volume coming up to the hourly close? (on Ozzie i mean) It's pretty high!
UT (and all VSA signals) can appear anywhere on a chart. Its the background that makes them meaningful. While a UT is a good indication of a possible top, it can also signal a continuation move i believe. the current H1 bar looks like stopping volume though, so i'm not sure where this thing would go. IMO, it will likely have to move down to the 1.0010 area for a test before moving up. That area is the monthly pivot and a major MML support line.

PS: I'm not not trading this pair atm, and still learning VSA so don't base anything on what I say.

EDIT: you are probably right in that the bar i mentioned as UT on the H1 technically is not as the volume is not higher than the previous bar. but that aside is still seems like a nice rejection of that price area.
Change is the only constant
  • #8,749
  • Jan 4, 2011 10:07am Jan 4, 2011 10:07am
Hallo this is my first post on this thread, but i´ve read it since a few weeks.
my expirience in VSA is very poor, but now i take my first trade based on VSA.

See this UT on H1 with very HV and think there´s much selling pressure and increasing volume,
go short by braking the low of the UT.

TP at 3335 because price has touched the TL. +52pips

Not shure i did it the right way, or was it only luck, do i have to wait for any confirmation???

Sorry for my poor english.
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Attached Image
Trade well and many pips to all. Martin
  • #8,750
  • Jan 4, 2011 10:09am Jan 4, 2011 10:09am
Quoting tgwhbb
UT (and all VSA signals) can appear anywhere on a chart....
I'm not currently trading it either but it is one I keep an eye on! I'm pretty much still learning too, today is my second day going live with a strategy I worked on for the last three and a bit months. I'm sure one of the regulars will sort us out in a while
  • #8,751
  • Jan 4, 2011 10:14am Jan 4, 2011 10:14am
Quoting pipmax
Hallo this is my first post on this thread, but i´ve read it since a few weeks.
my expirience in VSA is very poor, but now i take my first trade based on VSA.

See this UT on H1 with very HV and think there´s much selling pressure and increasing volume,
go short by braking the low of the UT.

TP at 3335 because price has touched the TL. +52pips

Not shure i did it the right way, or was it only luck, do i have to wait for any confirmation???

Sorry for my poor english.
Hi pipmax,

Well done for getting in, I was looking at this trade a few posts back. Personally I was waiting for confirmation on the 20min chart, didn't quite get the No Demand I was looking for so stayed out.

You saw the high volume and up thrust and therefore weakness so i don't think it was luck. Perhaps look for confirmation on lower times frames to make it a higher probability trade.

Congrats on getting 52pips!
  • #8,752
  • Jan 4, 2011 11:16am Jan 4, 2011 11:16am
Quoting KinsaleForex
More questions!

I was looking at this earlier and I was thinking possible strength at the close of the 1pm GMT bar. What in turn makes you think weakness?
Sorry, had to nip out.

AU M15

Since LO the price was marked up but then rounded off into a mushroom type top (I know it wasn't actually a top but the sentiment is the same). It tested the previous low at about 1.0052 but the test failed on hig volume. So its a safe bet that it will test aain.

The H! 13:00 GMT bar had some buying but, look what happened when it tried to go up........it formed an UT (yet more weakness).

At that point, we still dont know what price will do but generally, if it falls below the prev low (1.0052) it is tadeable with a short.
  • #8,753
  • Jan 4, 2011 11:19am Jan 4, 2011 11:19am
Yes, nice 52 pips! Thats a lot!!!
I see, you have pointed the support and resistance areas that matter =)
What about some more?
I found that baby here on Forexfactory. Think its for highlighting S/R areas... I've seen something similar on this thread, already. How can that be used? I wonder that the signals in the area of high activity lead to mixed results... I don't know how to use this...
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File Type: mq4 Level Sensor new.mq4   5 KB | 521 downloads
  • #8,754
  • Jan 4, 2011 11:22am Jan 4, 2011 11:22am
Quoting KinsaleForex
I see what you're saying, but I don't really see that as an upthrust. I thought they had to be into more open ground. Like on hourly EUR/USD. What do you make of the current volume coming up to the hourly close? (on Ozzie i mean) It's pretty high!
tgw is right. If an UT appears, it will ALWAYS be an UT. It is your job using VSA to decide what it means and how to use it.
  • #8,755
  • Jan 4, 2011 11:23am Jan 4, 2011 11:23am
Quoting Intel
Sorry, had to nip out.

AU M15

Since LO the price was marked up but then rounded off into a mushroom type top (I know it wasn't actually a top but the sentiment is the same)....
Cheers for the explanation, makes sense to me now!

Think i'm done for the day anyway, happy with my break even
  • #8,756
  • Jan 4, 2011 11:24am Jan 4, 2011 11:24am
Quoting Plata
Yes, nice 52 pips! Thats a lot!!!
I see, you have pointed the support and resistance areas that matter =)
What about some more?
I found that baby here on Forexfactory. Think its for highlighting S/R areas... I've seen something similar on this thread, already. How can that be used? I wonder that the signals in the area of high activity lead to mixed results... I don't know how to use this...
Attachment Attachment
Mals your man to explain how to use that indi.
  • #8,757
  • Jan 4, 2011 11:27am Jan 4, 2011 11:27am
That is volume on price levels, no? Is It to show up S/R?
  • #8,758
  • Jan 4, 2011 11:28am Jan 4, 2011 11:28am
Quoting Plata
That is volume on price levels, no? Is It to show up S/R?
Yeah pretty much.
  • #8,759
  • Jan 4, 2011 11:30am Jan 4, 2011 11:30am
Quoting Intel
It seems I could have held on to it
I'm happy with my profits.

Is anyone still in?
117 pips for anyone who stayed in the trade.
  • #8,760
  • Jan 4, 2011 11:31am Jan 4, 2011 11:31am
Quoting Intel
117 pips for anyone who stayed in the trade.
Damn even bars
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