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vsa with Malcolm

  • #10,361
  • Jan 21, 2011 3:50am Jan 21, 2011 3:50am
Quoting KinsaleForex
Cable seems to be meeting resistance at 1.5940 - 45 and there was an upthrust on high volume on the 1hr chart just now.
well from the close of the upthrust it's gone 45 pips, didn't get a No Demand though. In fact it gapped down on some charts, presumably on that Retail Sales news.
  • #10,362
  • Jan 21, 2011 3:57am Jan 21, 2011 3:57am
missed a great trade this afternoon but i think this one is ok too , trade trigger into a low support area a quick 9 pips.
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  • #10,363
  • Jan 21, 2011 4:04am Jan 21, 2011 4:04am
no supply bar on low volume...maybe?
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Catching a falling knife, no, I'm just trading the Gartley!
  • #10,364
  • Jan 21, 2011 4:16am Jan 21, 2011 4:16am
after trying out VSA i find that it seems like a good strategy to scalp into areas of low s/r. Looking out on low vol and watch where is the next higher vol candle going to. Trigger with a stop order and tp at the next s/r
  • #10,365
  • Jan 21, 2011 4:58am Jan 21, 2011 4:58am
Quoting juhanimi
And this is the strange thing with trading what I have to work with, I make money, and I am not happy.WTF.
Some people call it greed
  • #10,366
  • Jan 21, 2011 5:38am Jan 21, 2011 5:38am
Quoting AngelineW
after trying out VSA i find that it seems like a good strategy to scalp into areas of low s/r. Looking out on low vol and watch where is the next higher vol candle going to. Trigger with a stop order and tp at the next s/r
I'm on that one, too
It seems that the direction of the movement doesn't change without giveing signs before (high volume, slowing down). It is possible to get out 0:0 if low s/r is proven wrong. -> Exit strategy O.K.
As entry, I like to see pinbars near, to put my stop loss out of range. But I need to work on my entrys. Yesterday I made 4 loosing trades, only 2 winners, 2x 0:0.
One thing that frightens me is that there can be gaps. This week, there was a news announcement on GBP. GU stopped moveing on Alpari Germany for 5 min and then there was a 30 point gap! This could easily cost a big part of the account. And there may be greater gaps or slippage of many points! Because targeting only a few points means the use of high leverage!
But there are more opportunities!!!
  • #10,367
  • Jan 21, 2011 5:54am Jan 21, 2011 5:54am
Quoting Niko4ever
! This could easily cost a big part of the account. And there may be greater gaps or slippage of many points! Because targeting only a few points means the use of high leverage!
But there are more opportunities!!!

dare i suggest that you don't trade just before eco anouncements, or are at least square up during them if you can't afford the drawdowns,and wait for eco release to bring the herd into sight and then look for entries...


the eco announcements actually contribute to the validity of the strategy
Catching a falling knife, no, I'm just trading the Gartley!
  • #10,368
  • Jan 21, 2011 6:00am Jan 21, 2011 6:00am
Quoting ChinaWombat
dare i suggest that you don't trade just before eco anouncements, or are at least square up during them if you can't afford the drawdowns,and wait for eco release to bring the herd into sight and then look for entries...


the eco announcements actually contribute to the validity of the strategy
Yes, your absolutely right!

But I think about what may happen if Mr. Bernanke says something extreme out of the schedule, for example.
  • #10,369
  • Jan 21, 2011 6:36am Jan 21, 2011 6:36am
just to drop a few lines...stock market was in superbullmode preparation last two days.
my last call for 1300 failed it by a few points but today we might pretty well see it. i wouldn't fight the stock market bulls today.

buy the dips on the es.

check for signals on 1282 / 1284 / 1288 to join the buy side
  • #10,370
  • Jan 21, 2011 6:49am Jan 21, 2011 6:49am
Quoting TheWinkler
Interesting...I've always taken the ND to be a confirmation bar of recent signs of weakness. So are you now saying there is a confirmation of the confirmation to look for? That would do my head in!!
I`m not saying it, GH in the numerous vids on youtube is saying it.
Seek not to change the world; seek only to change your mind about the world
  • #10,371
  • Jan 21, 2011 6:58am Jan 21, 2011 6:58am
Quoting pres78
Man work has been nuts today but I was able to get into 1 VSA trade. The only question I have is could I have gotten in lower down on the 2 bar reversal? Is that a safe entry?

I waited and got in after a NS on which the entry bar also passed above the Hull. I took 2 lots and closed one at 1:1 for 32 pips and moved the other to BE and will let it run.
Still in this second trade... both were entered at 3430 per this previous post and chart from yesterday. First trade was close out at 3462 for 32 pips and 1:1. Second one was moved to BE and is not sitting at 3540 as of writing this post. I am waiting to see if US stock market open and US FX market opens give her another boost towards 3600. If not I will keep an eye on it and close out just before London Close. I have moved the SL to +50 ATM to give it some room.
Today's zone = Tomorrow's opportunity!
  • #10,372
  • Jan 21, 2011 7:51am Jan 21, 2011 7:51am
eu 15 min , low vol test 1.3500 , then buyers came in , poc 1.3530 , above that we rips to 1.3620 to 1.3680

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Blogging daily now at www.volume.zone
  • #10,373
  • Jan 21, 2011 7:54am Jan 21, 2011 7:54am
Did we just see the NY session testing of yesterday's high around 3520? Shakeout on the M15, and M5 strength as shown on attached chart, ultra high vol on smaller spread closing in the middle followed by upbar and subsequent test. And to add auction market theory into the mix, the 3520 area is in between yesterday's and today's value area.

long @ 3522 and watching 3550 area for reaction.
Attached Image (click to enlarge)
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Change is the only constant
  • #10,374
  • Jan 21, 2011 7:55am Jan 21, 2011 7:55am
Quoting malcolmb14
eu 15 min , low vol test 1.3500 , then buyers came in , poc 1.3530 , above that we rips to 1.3620 to 1.3680

Attachment
Yes! I'm on the same page as Malc!
Change is the only constant
  • #10,375
  • Jan 21, 2011 7:58am Jan 21, 2011 7:58am
Quoting malcolmb14
eu 15 min , low vol test 1.3500 , then buyers came in , poc 1.3530 , above that we rips to 1.3620 to 1.3680

Attachment
I hope at least 3627 so my attempt at a Malcolmbesque prediction comes true...
Today's zone = Tomorrow's opportunity!
  • #10,376
  • Jan 21, 2011 8:03am Jan 21, 2011 8:03am
Quoting pres78
I hope at least 3627 so my attempt at a Malcolmbesque prediction comes true...
We need to retake the 3550 level in order to continue up...
Today's zone = Tomorrow's opportunity!
  • #10,377
  • Jan 21, 2011 8:05am Jan 21, 2011 8:05am
Quoting pres78
I hope at least 3627 so my attempt at a Malcolmbesque prediction comes true...
curious...how are you coming up with 3627?

closest i could see on my chart around there is the close on 11/11 at 3620. I think 3577 will be to watch as well as that is the 50% fib level of the entire down move. and 3672 is major MML S/R level.
Change is the only constant
  • #10,378
  • Jan 21, 2011 8:06am Jan 21, 2011 8:06am
Quoting pres78
We need to retake the 3550 level in order to continue up...
i think we will, squat bar on the M5
Change is the only constant
  • #10,379
  • Jan 21, 2011 8:10am Jan 21, 2011 8:10am
Quoting tgwhbb
curious...how are you coming up with 3627?

closest i could see on my chart around there is the close on 11/11 at 3620. I think 3577 will be to watch as well as that is the 50% fib level of the entire down move. and 3672 is major MML S/R level.
It is the high (on my broker) of the wide range ultra high volume down bar (on daily chart) for the 11.23.2010 candle. We are currently inside the range of that candle testing it's supply/demand zone which until this month had never been tested. I just see it as a point of possible interest because of this. I can see PA testing this high during the move up.
Today's zone = Tomorrow's opportunity!
  • #10,380
  • Jan 21, 2011 8:14am Jan 21, 2011 8:14am
Quoting tgwhbb
i think we will, squat bar on the M5
Another bounce from the 3550 level on the 15min.
Today's zone = Tomorrow's opportunity!
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