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vsa with Malcolm

  • #10,141
  • Jan 19, 2011 9:00am Jan 19, 2011 9:00am
i like Dr G's idea of aided VSA - or was that HG's concept? in any case, here's a chart showing some confluence of S/R levels. some levels on daily are easy enough to spot, but when you add Fibo levels and see confluence, i think that just adds weight to those levels. apply VSA principals to those levels and you have excellent trading opportunities.

daily chart below. 1.3577 next major resistance level 50% fib as shown, and s/r level from late september, and in november. 1.3412 area as mentioned yesterday is strong s/r as well, 38.2% fibo plus obvious s/r as shown. at some point EU will need to go back to 3412 area to test and reaction there will be key. however i think short term we test 3450-60 area (yesterday's high and today's london low) before moving up to 3577 area. reaction there will dictate if we go back to test 3412 IMO. 3670 is also a MML resistance to watch out for.

Would like feedback. still trying to improve my analysis of S/R levels.
Attached Image (click to enlarge)
Click to Enlarge Name: EU daily 2011-01-19 at 9.46.43 AM.png Size: 133 KB
Change is the only constant
  • #10,142
  • Jan 19, 2011 9:18am Jan 19, 2011 9:18am
i started receiving market updates from my broker, and find this statement interesting as it supports my theory of a retest of 3450 area. Curious now to see if this actually plays out

EURUSD: Macro dollar supply took pair higher from the open, but real money and leveraged stops kicked in above 1.3500. More macro dollar supply bids at 1.3440/45.

if i'm understanding the statement properly, there are larger orders of USD sellers around 3440, which means EUR buyers at that level.
Change is the only constant
  • #10,143
  • Jan 19, 2011 9:28am Jan 19, 2011 9:28am
Quoting tgwhbb
i started receiving market updates from my broker, and find this statement interesting as it supports my theory of a retest of 3450 area. Curious now to see if this actually plays out

EURUSD: Macro dollar supply took pair higher from the open, but real money and leveraged stops kicked in above 1.3500. More macro dollar supply bids at 1.3440/45.

if i'm understanding the statement properly, there are larger orders of USD sellers around 3440, which means EUR buyers at that level.
Never listen to you broker.
  • #10,144
  • Jan 19, 2011 9:42am Jan 19, 2011 9:42am
Took my long trade from ealier in reverse for 32 pips back down. Second black dotted line we made a higher high than the first black dotted line but on lower volume showing little interest to the upside... the bar didn't close terribly low so I waited for confirmation. The next 3 bars were down bars but on lower volume... HMM??? We were now under the hull but were dropping on lowering volume. Once I saw the ND bar I entered on the break of the low. SL was at the high of the second dotted line bar and TP was set at 1:1 putting me above both the DPV level and a trigger level from back on Nov 11, 2010.

Oh and also we had not yet been able to close above the 15min high trigger level at 6027 on the 15min charts even though 2 15 min bars have broken through but could not hold (both could be looked at as failed tests).
Attached Image (click to enlarge)
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Today's zone = Tomorrow's opportunity!
  • #10,145
  • Jan 19, 2011 9:52am Jan 19, 2011 9:52am
Taking a look at the 1 hour chart the pound is a simple read, Sellers are protecting the top at 6037. A break of hear with volume on follow through should push us to take out the old top of Monday and onto higher prices. The spring noted would be the level I am looking to short under if we break and follow through with volume.
Attached Image (click to enlarge)
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  • #10,146
  • Jan 19, 2011 10:03am Jan 19, 2011 10:03am
Took that EUR/CHF short i alluded to earlier on. Profit target hit, 42 pips. Back in the black

Red Line = Stop
Black Line = Entry
Green Line = Profit Target.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCHF 20min.png Size: 70 KB
  • #10,147
  • Jan 19, 2011 10:06am Jan 19, 2011 10:06am
Quoting KinsaleForex
Took that EUR/CHF short i alluded to earlier on. Profit target hit, 42 pips. Back in the black

Red Line = Stop
Black Line = Entry
Green Line = Profit Target.

How are you liking tradeguider? Gotto love those red box signals.
  • #10,148
  • Jan 19, 2011 10:09am Jan 19, 2011 10:09am
Quoting Sonofsin5
How are you liking tradeguider? Gotto love those red box signals.
Really like using it, charts are really easy on the eye. Obviously I don't base my trading on the signals alone but they are admittedly a nice little reassurance when they appear to support what i'm thinking
  • #10,149
  • Jan 19, 2011 10:22am Jan 19, 2011 10:22am
Did the bb's just send us a telegram?
Attached Image (click to enlarge)
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  • #10,150
  • Jan 19, 2011 10:22am Jan 19, 2011 10:22am
I trade whilst working, so I can't permanently look at the screen. Trades have to be fast. I trade by a mobile phone so I cant see much!

Yesterday, I made 10 winning trades and one loosing trade. This loosing trade was because I couldn't wait and jumped on. It was at market top I soon realised. This means all other trades I took calm worked out, so my estimation was good. Today I made 5 winning trades and had one looser. I wrote down why I entered and what I thought to analyze later. Yesterday I looked at my trades and couldn't remember why I entered!

Todays loosing trade was this:

Market formed something like a triple top. The last high was higher, so I thought it's time for a down move now. I considered the market as weak because of no result from effort. I entered what could have been the beginning of a down move.

I was wrong but isn't it that when signs of weakness are proven wrong, the market is strong?! So I reversed position and came out with a little win on both trades.

I think market reversed because it hit an even number that moment (market touched 1.35 for the first time today.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 162 KB
  • #10,151
  • Jan 19, 2011 10:24am Jan 19, 2011 10:24am
Quoting BeLikeWater
..Think about it, IF you buy EUR you sell USD....
On a different topic but in the same realm, I used to have this debate a lot when I was looking into the ACD method. According to Mark Fisher the opening range is set in the currency's domestic market. So the opening range of the Euro should come when London opens as I recall. Well, the first issue is that the Euro most closely matches the old German Demark, so Frankfurt should be the domestic market for the opening range I would think.

But my main argument was that one can BUY the Euro or one can SELL the USD. Therefore there should be two opening ranges-another one when NY opens. It is also clear the way U.S. news like Fed announcements and NFP effect the Euro/USD pair that there is no way that NY market is not important. But I digress.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #10,152
  • Jan 19, 2011 10:27am Jan 19, 2011 10:27am
Quoting KinsaleForex
Took that EUR/CHF short i alluded to earlier on. Profit target hit, 42 pips. Back in the black

Red Line = Stop
Black Line = Entry
Green Line = Profit Target.
Which trade did you lose?
Seek not to change the world; seek only to change your mind about the world
  • #10,153
  • Jan 19, 2011 10:29am Jan 19, 2011 10:29am
Quoting KinsaleForex
Took that EUR/CHF short i alluded to earlier on. Profit target hit, 42 pips. Back in the black

Red Line = Stop
Black Line = Entry
Green Line = Profit Target.
If you only trade that setup, you'll make a fortune. Nice trade.
  • #10,154
  • Jan 19, 2011 10:33am Jan 19, 2011 10:33am
Quoting gez40
I see plenty of new faces here lately, here are some videos i posted back in november from TG, good for learning.

http://www.forexfactory.com/showpost...postcount=7292

Some more for the newbies

http://www.forexfactory.com/showpost...postcount=4687
Seek not to change the world; seek only to change your mind about the world
  • #10,155
  • Jan 19, 2011 10:36am Jan 19, 2011 10:36am
Quoting KinsaleForex
Took that EUR/CHF short i alluded to earlier on. Profit target hit, 42 pips. Back in the black

Red Line = Stop
Black Line = Entry
Green Line = Profit Target.
Very nice. Is there a reason you use a 20 minute?
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #10,156
  • Jan 19, 2011 10:36am Jan 19, 2011 10:36am
Quoting gez40
Which trade did you lose?
A silly buy on Eddie on the 6th January, it's in my blog (plug plug!)

Quoting Intel
If you only trade that setup, you'll make a fortune. Nice trade.
Cheers Intel, appreciate that, especially as you've been at this much longer than I have!
  • #10,157
  • Jan 19, 2011 10:37am Jan 19, 2011 10:37am
Quoting Sonofsin5
Did the bb's just send us a telegram?
Could be absorbtion.
  • #10,158
  • Jan 19, 2011 10:40am Jan 19, 2011 10:40am
Quoting Intel
Could be absorbtion.
But the result is positive?
  • #10,159
  • Jan 19, 2011 10:41am Jan 19, 2011 10:41am
Quoting Niko4ever
But the result is positive?
What does that mean?
  • #10,160
  • Jan 19, 2011 10:43am Jan 19, 2011 10:43am
Quoting Intel
What does that mean?
Sorry! Absorbing what? If its buy orders, the result should be negative imho.
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