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vsa with Malcolm

  • #10,061
  • Jan 18, 2011 11:26am Jan 18, 2011 11:26am
Quoting pres78
22 pip SL and going for 1:1 on this short. Londons gone though so fingers crossed.
TP hit while writting the post about the trade. Done for the day.
Today's zone = Tomorrow's opportunity!
  • #10,062
  • Jan 18, 2011 11:27am Jan 18, 2011 11:27am
Quoting AngelineW
Yups Yes haha i jot down all the replies i have into my answer book but i dont trade during such hours due to low volatility. I trade with the trend and sometimes get stop out by shake outs hence i am trying to improve
Around london close can sometimes show a nice trade entry as dealers are squaring their books into the close. Dont always count this time of the day out for great trading opps.
  • #10,063
  • Jan 18, 2011 11:29am Jan 18, 2011 11:29am
Quoting pres78
TP hit while writting the post about the trade. Done for the day.
Nice trade. I took almost the same.
  • #10,064
  • Jan 18, 2011 11:29am Jan 18, 2011 11:29am
Quoting pres78
TP hit while writting the post about the trade. Done for the day.
Nice one, moved pretty quick didn't it?! I spent too long thinking about it and it was gone before I hit the button! Ah well. Small profit for the day nonetheless.
  • #10,065
  • Jan 18, 2011 11:29am Jan 18, 2011 11:29am
Quoting KinsaleForex
Nice one, moved pretty quick didn't it?! I spent too long thinking about it and it was gone before I hit the button! Ah well. Small profit for the day nonetheless.
Small profits all add up.
Today's zone = Tomorrow's opportunity!
  • #10,066
  • Jan 18, 2011 11:38am Jan 18, 2011 11:38am
Quoting pres78
Small profits all add up.
Precisely, i'd take a small profit regularly over large ones once in a blue moon
  • #10,067
  • Jan 18, 2011 11:38am Jan 18, 2011 11:38am
Quoting wowzers
Hi, belikewater. Can you upload the volume bar indi that you are using or let me know where I can get it?

Thanks
Here we go another one:

http://www.forexfactory.com/showpost...postcount=2256

Keep going
Greetings, BeLikewater
  • #10,068
  • Jan 18, 2011 11:39am Jan 18, 2011 11:39am
Quoting Sonofsin5
Around london close can sometimes show a nice trade entry as dealers are squaring their books into the close. Dont always count this time of the day out for great trading opps.
hahah but i leave in CHina beauty sleep is important too
  • #10,069
  • Jan 18, 2011 12:06pm Jan 18, 2011 12:06pm
I have read many times that the market does not like high volume, high range up bars... what about downbars?
Today's zone = Tomorrow's opportunity!
  • #10,070
  • Jan 18, 2011 12:12pm Jan 18, 2011 12:12pm
Quoting pres78
I have read many times that the market does not like high volume, high range up bars... what about downbars?
It's funny, for ages I wondered about this, having never heard Tom or Gavin explicitly say "the market doesn't like high volume on down bars". But essentially it's just the reverse of a high volume up bar.

So basically what i'm saying is take it that the markets don't like high volume on down bars either!
  • #10,071
  • Jan 18, 2011 12:13pm Jan 18, 2011 12:13pm
Quoting pres78
I have read many times that the market does not like high volume, high range up bars... what about downbars?
I dont know, but i would say it doesnt matter, but maybe someone bring a better answer.
Greetings, BeLikewater
  • #10,072
  • Jan 18, 2011 12:19pm Jan 18, 2011 12:19pm
Quoting pres78
I have read many times that the market does not like high volume, high range up bars... what about downbars?
I believe that is more directed towards stocks, etc., I'm sure its the same for downbars in FX.
  • #10,073
  • Jan 18, 2011 1:10pm Jan 18, 2011 1:10pm
possible strength on EU - small shakeout, NS and test all on TL. The last bar on this screen shot actually turned out to be a test/NS, but since then the high was not broken and the low was, therefore a failed test?
Attached Image (click to enlarge)
Click to Enlarge Name: EU M15 2011-01-18 at 1.58.05 PM.png Size: 161 KB
Change is the only constant
  • #10,074
  • Jan 18, 2011 1:22pm Jan 18, 2011 1:22pm
This is my first time actually using the "text" and "arrow" functions on MT4, so bare with me. I try to pay attention to the monthly and weekly, but really begin to focus when the daily and one-hour charts are up. The 15-minute has been my time frame for entries.

One-hour hull was green and price was clearly in an uptrend, so I went down to the 15-minute chart to see what was going on. I saw strength on two down bars with decent volume as well as a shakeout, all off of the daily trendline/dsri (lingo from another FF thread). Once the high (110.31) was broken on the SO bar (two bars later), I was in for a good number of pips. Took half off around 110.70 and was going to close the other half around 111 but took another VSA setup on GBP/Yen and just forgot about it. Still in at the moment though.

Malcomb you got yourself a fine thread here man. I've been learning a lot. Maybe I'll finally be able to get my head around VSA this time around. Been following Malcomb and Dr. G for quite some time over on the GBP/Yen, Euro, and GBP threads.
Attached Image (click to enlarge)
Click to Enlarge Name: eur_yen.gif Size: 17 KB
"Don't trade to trade . . . trade to win." - James16
  • #10,075
  • Jan 18, 2011 1:33pm Jan 18, 2011 1:33pm
Quoting Flem26
This is my first time actually using the "text" and "arrow" functions on MT4, so bare with me. I try to pay attention to the monthly and weekly, but really begin to focus when the daily and one-hour charts are up. The 15-minute has been my time frame for entries.

One-hour hull was green and price was clearly in an uptrend, so I went down to the 15-minute chart to see what was going on. I saw strength on two down bars with decent volume as well as a shakeout, all off of the daily trendline/dsri (lingo from another FF thread). Once the high...
Agreed, i've not been here long but learnt loads already.

Nice one on the trade, looking at the hourly for EUR/JPY though i wouldn't personally stay in much longer with the high volume up bar followed by upthrust and no demand between 2 and 5pm GMT.
  • #10,076
  • Jan 18, 2011 1:36pm Jan 18, 2011 1:36pm
Quoting tgwhbb
possible strength on EU - small shakeout, NS and test all on TL. The last bar on this screen shot actually turned out to be a test/NS, but since then the high was not broken and the low was, therefore a failed test?
What are the red dots / playstation move controls about on the chart?
  • #10,077
  • Jan 18, 2011 1:44pm Jan 18, 2011 1:44pm
Quoting KinsaleForex
What are the red dots / playstation move controls about on the chart?
VSA Signals 1.01 indy i found on this thread. helps me identify the main vsa principals. I must be learning though as I now generally identify the bars before they close and before the indy paints a dot on them
Change is the only constant
  • #10,078
  • Edited 2:19pm Jan 18, 2011 1:55pm | Edited 2:19pm
Am I completly off base with all the weakness I am seeing on the EURUSD daily? Is VSA still an acurate system when reviewing daily charts. Another close below that old trigger level from Nov 23rd bar could signal some big downside moves. Still need some confirmation / break of today's test bar... I call it a test since it made a higher high on lower volume than the bar from 3 days ago with a wider spread and looks like a lower close... Also this latest V shaped move created a lower low and a lower high in comparison to the latest high to the left on Dec 14th.

Today has yet to close so we will have to see how the bar and volume plays out...

Also the second 3385 close is lower volume than the last 3385 close bar incase my lower volume arrow was confusing as the volume on the second bar was actually higher than the previous day which had much wider range.
Attached Image
Today's zone = Tomorrow's opportunity!
  • #10,079
  • Jan 18, 2011 2:20pm Jan 18, 2011 2:20pm
Quoting pres78
Am I completly off base with all the weakness I am seeing on the EURUSD daily? Is VSA still an acurate system when reviewing daily charts.
VSA is not a system. its learning how to read charts and therefore applies to any timeframe. however, it's been said many times by the gurus on this thread that daily volumes on spot forex is questionable and that futures volume is more reliable.

Anyone know of a good source for forex futures? my broker does not offer that.

Regarding weakness on EU, yesterday seems like a nice NS/test on very low volume. If today closes above yesterday's high, we have the making of a bullish engulfing day. IMO that means strength is taking over the weakness.

just a thought really, don't base your trading on what i say
Change is the only constant
  • #10,080
  • Jan 18, 2011 2:25pm Jan 18, 2011 2:25pm
Quoting tgwhbb
VSA is not a system. its learning how to read charts and therefore applies to any timeframe. however, it's been said many times by the gurus on this thread that daily volumes on spot forex is questionable and that futures volume is more reliable.

Anyone know of a good source for forex futures? my broker does not offer that.

Regarding weakness on EU, yesterday seems like a nice NS/test on very low volume. If today closes above yesterday's high, we have the making of a bullish engulfing day. IMO that means strength is taking over the weakness....
Yes sorry system was a bad choice of words... That lower volume down bar is NS by volume basis but it closed in the bottom quater of the spread so it became a little more suspect as to whether it truly was NS. Yes today's close will be important to determine more on whether it is supply or demand that is in control. That old level from 11.23.2010 just seems to have been respected so many times thus far. More of a possible observation than anything... I see now that yesterday's bar did test the close level of the second highest volume bar from Dec 8, 2010 hitting it and closing above, so a low volume test could be what that bar was... just curious what others see when they look at the same chart. Thanks for replying.
Today's zone = Tomorrow's opportunity!
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