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vsa with Malcolm

  • #9,461
  • Jan 11, 2011 8:51am Jan 11, 2011 8:51am
it is a bad idea to buy breakouts in general since price will make a little higher high most of the time, even if it has no intention. just due to the fact that there are breakout traders to rip off.

i was watching the action and it is not uncommon to shoot above the first UT in an uptrend. if you drilled down to 5 minute chart, there is a weakness to see and cable was sold off before reaching 5600. the 5m bars lovely show distribution. after the first ut bar the other made absolutely no progress, no single bar was able to close above the wick of the first ut.

in genereal it is a good idea to stay away till those weird moves are over and market is back to normality. as soon as eur knows where it wants to go.


http://img412.imageshack.us/img412/5...0111154452.png

Quoting tgwhbb
entered long on break of what looks like a small shakeout. No sure what to call the marked bar really, maybe hidden test? previous bar looks like transfer of control to me. trade up so far and in direction of trend, and I have to leave on a business trip soon so set SL to BE+1 and going to try and let this one run longer TF.
  • #9,462
  • Edited 9:42am Jan 11, 2011 9:30am | Edited 9:42am
Quoting Intel
It seems that my MT4 platform may need re-installing to solve the volume bar repainting.
Do any of you know how I could keep my S+R lines?
save it as an MT4 template.
copy that saved template onto the reinstalled MT4... under the same folder of course

edit: just saw a few responded to it already, lol
Quoting AngelineW
I just added or trying to combine VSA with my 1hr trading on Eurusd..
Hello AngelineW,
no worries, u can use it on H1 if u like.
  • #9,463
  • Jan 11, 2011 9:53am Jan 11, 2011 9:53am
EU looks like a nice accumulation on H1
  • #9,464
  • Jan 11, 2011 10:01am Jan 11, 2011 10:01am
Quoting Intel
I have seen no reason not to trust the setup as yet. Still in.
Just got back from golf.

I see my EH M5 trade worked out nicely. I put a TP in at 2955, just below the last high. ALWAYS trust the setup. If you've read the charts correctly, it will work out........most of the time!!!!!!

There are a few posts to reply to. I will get round to them please bare with me.
  • #9,465
  • Jan 11, 2011 10:03am Jan 11, 2011 10:03am
Quoting Dr.Geppynius
eur always is a piece of sh** after such moves like last week. until it has shown that it is ready to move like a adult fx-cross and not a childish pair of **** you should stick to cable.
More right you could not be.

It's somewhat distressing that I go to bed and a 30-50 pip spasm has brought the euro back to where it was. Reads as possible accumulation to me, but that is a purposefully premature guess. Too many correlations are broken, and too much is indeterminate (ie., crappy NFP, yet USD recovering)

My take is the markets are waiting for all this bond auction stuff to hit this week - we should see a 200 pip or so move somewhere as a result.

There was a last minutes surge of strength in this current 10am-11am H1 bar close, we then fell back significantly, and not literally in the last 1 minute are closing on the high. Sounds like a trick to me, but I am partial to re-longing for a miserly 20+ pips, which is all you can reasonably get in this wolf and spastic market. We could be making a pennant, or, we may be heading back up. (leaning to the latter)

A musing: since it's looking like GU is accumulating, and we may be seeing USD strength, one of them should make GBPJPY promising as something to start looking at - regret not following a long pattern that has now played out over there.
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  • #9,466
  • Jan 11, 2011 10:07am Jan 11, 2011 10:07am
there is market talk that middle east central banks buy eur around 2915 area.

damnit due to not wanting to give any of my profits from today back i closed the biggest chunk of my 10 lotter which i bought at 2920 not long ago at 2940..."=/)/($/'*'!!!

Quoting ozzieb88
EU looks like a nice accumulation on H1
  • #9,467
  • Edited 10:18am Jan 11, 2011 10:08am | Edited 10:18am
Long EU. Loving the support at .2925 (near weekly close) ... Nice vol increase followed by NS. Closed half the trade at +20 and now BE +2 on the other half.
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  • #9,468
  • Jan 11, 2011 10:09am Jan 11, 2011 10:09am
Quoting Dr.Geppynius
there is market talk that middle east central banks buy eur around 2915 area.

damnit due to not wanting to give any of my profits from today i closed the biggest chunk of my 10 lotter which i bought at 2920 at 2940..."=/)/($/'*'!!!
You still long gu?
  • #9,469
  • Jan 11, 2011 10:11am Jan 11, 2011 10:11am
yes, i'm letting the rest of my position run be +5 and call it a day.

i bought eur, not gu. gu i shorted 5590 and closed 5555

Quoting Sonofsin5
You still long gu?
  • #9,470
  • Jan 11, 2011 10:16am Jan 11, 2011 10:16am
Quoting Dr.Geppynius
yes, i'm letting the rest of my position run be +5 and call it a day.

i bought eur, not gu. gu i shorted 5590 and closed 5555
No Gu long love?

5600 is proving to be as stuborn as a 4 year old.
  • #9,471
  • Jan 11, 2011 10:21am Jan 11, 2011 10:21am
Quoting Beljevina
More right you could not be.

It's somewhat distressing that I go to bed and a 30-50 pip spasm has brought the euro back to where it was. Reads as possible accumulation to me, but that is a purposefully premature guess. Too many correlations are broken, and too much is indeterminate (ie., crappy NFP, yet USD recovering)

My take is the markets are waiting for all this bond auction stuff to hit this week - we should see a 200 pip or so move somewhere as a result.

There was a last minutes surge of strength in this current 10am-11am H1 bar close,...

There is a text book EU M5 long in progress right now.

Dont be disheartened if you're not getting the big 100+ pip moves. Making money at this game is not about how many pips you make. If you've read the charts correctly and a setup emerges, trade it. You will win way more than you lose. Once you have a bit of confidence in your ability to pick good trades, you can trade the more heavily. THAT is where you make money.

I am not a believer in the idea of only risking threpence of your £500k account just in case your wrong. If your right most of the time.......back it heavily.

Most of the trades I make(and discuss here) are for small amounts (some would call it scalping almost). But, they are VERY dependable. So I trade them heavily. It requires a different mindset to what most experienced traders will have but, I firmly believe this to be the way forward.

It's only my opinion but, I believe that most traders are taught to 'lose thier money slowly' rather than how to 'make money'.
  • #9,472
  • Jan 11, 2011 10:24am Jan 11, 2011 10:24am
Quoting Intel
There is a text book EU M5 long in progress right now.

Dont be disheartened if you're not getting the big 100+ pip moves....
I dont see the long? I see a possible short due to Climatic volume up bar on top of range.
  • #9,473
  • Jan 11, 2011 10:35am Jan 11, 2011 10:35am
would have th is been correct?
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  • #9,474
  • Jan 11, 2011 10:38am Jan 11, 2011 10:38am
Quoting Intel
There is a text book EU M5 long in progress right now.

Dont be disheartened if you're not getting the big 100+ pip moves....
I would love to trade like you do!
  • #9,475
  • Jan 11, 2011 10:40am Jan 11, 2011 10:40am
Quoting ozzieb88
I would love to trade like you do!
What....in hindsight

The setup formed before I got back from golf. It was just triggered and in progress when I saw it.
  • #9,476
  • Jan 11, 2011 10:42am Jan 11, 2011 10:42am
Quoting Intel
What....in hindsight

The setup formed before I got back from golf. It was just triggered and in progress when I saw it.
Mate honestly... How long have you traded VSA? YOU OWN IT!

Is my EU short M5 for a scalp valid I see an UT, and confirmation, now waiting for an ND? As looks like it cant break range.
  • #9,477
  • Jan 11, 2011 10:47am Jan 11, 2011 10:47am
Quoting Intel
There is a text book EU M5 long in progress right now.

Dont be disheartened if you're not getting the big 100+ pip moves. Making money at this game is not about how many pips you make.
Boy was that EU M5 right - it is evident in the chart I posted, was just too lazy to mark it up. The result of pent-up demand and price buoyancy that many here have been expecting, but you just never know when it's going to hit.

I am a fan of price action and using that along with even the elementary VSA signs, I find is gold, for catching the start of moves. Needs lot of screen time though to get there, and a mindset adjustment to market fundamentals, and a sort of unlearning of what your mind wants you to do.

I am quite happy with the 20-40 pippers these days; got a nice 35-pipper short in USDCHF & a 70+ in EURJPY from 12hrs ago - these days, I am risking less across a broader set of pairs - it's psychologically easier, the risk is less, and I'm fairly certain it's more financially rewarding.

I think we have a multi-day range breakout in GU underway - it's about time! I think we'll stop just around this area, coming up against the marked UTL line. If we go beyond, I'd expect a double-top around 1.566 - getting past that one should prove a doozey. 1.568 and that whole zone is major congestion IMO.
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  • #9,478
  • Jan 11, 2011 10:49am Jan 11, 2011 10:49am
Quoting Beljevina
Boy was that EU M5 right - it is evident in the chart I posted, was just too lazy to mark it up. The result of pent-up demand and price buoyancy that many here have been expecting, but you just never know when it's going to hit.

I am a fan of price action and using that along with even the elementary VSA signs, I find is gold, for catching the start of moves. Needs lot of screen time though to get there, and a mindset adjustment to market fundamentals, and a sort of unlearning of what your mind wants you to do.

I am quite happy with the 20-40...
How you read that chart amazes me.. Mine has nothing but a few S and R lines
  • #9,479
  • Jan 11, 2011 10:51am Jan 11, 2011 10:51am
I also took the long on both eu and gu.
See intel? The weekend spent with your charts is paying

out now. +25 +29
  • #9,480
  • Jan 11, 2011 10:53am Jan 11, 2011 10:53am
Quoting Intel
What....in hindsight

The setup formed before I got back from golf. It was just triggered and in progress when I saw it.
EU M5
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