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vsa with Malcolm

  • #10,381
  • Jan 21, 2011 8:19am Jan 21, 2011 8:19am
I've noticed that there are days where there is over 100 viewers in this thread. Don't you think that it is time for you to start selling something smart . Thread is growing fast
  • #10,382
  • Jan 21, 2011 8:21am Jan 21, 2011 8:21am
That last 5min bar englufed the 3 previous down bar bodies... A 4 bar reversal of sorts
Today's zone = Tomorrow's opportunity!
  • #10,383
  • Jan 21, 2011 8:51am Jan 21, 2011 8:51am
What is that last 15min bar considered? Test? Hidden test? It is wide spread with lowest volume of the last few bars, closing as an upbar but off it's high but back above 3550.
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Today's zone = Tomorrow's opportunity!
  • #10,384
  • Jan 21, 2011 8:53am Jan 21, 2011 8:53am

Lets see how these play out. We are meeting some resistance at .6000 but charts are not showing any stong sighns of weakness.

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  • #10,385
  • Jan 21, 2011 9:06am Jan 21, 2011 9:06am
Quoting pres78
What is that last 15min bar considered? Test? Hidden test? It is wide spread with lowest volume of the last few bars, closing as an upbar but off it's high but back above 3550.
My 2c for what its worth. Wasn't sure of that bar either, so went down to the 5M. There is selling at the top for sure, as noted by the compressed upbar on ultra high volume, followed by the hidden upthrust. However as it came down we got what looks like some stopping volume followed by an upbar. The problem i still have is that upbar after the stopping volume (last bar marked up in my chart) also looks like a ND bar.

At this point i'm still long biased as there is effort to stop the up move but no resulting down move just yet. my SL at BE+1 and leaving it there for now.
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Change is the only constant
  • #10,386
  • Jan 21, 2011 9:28am Jan 21, 2011 9:28am
Are reverse up thrust and shakeouts the same thing?

If so does that make an upthrust the same thing as a shakeout??

Regards
  • #10,387
  • Jan 21, 2011 9:29am Jan 21, 2011 9:29am
Pound didnt hold up at all, but this has signs of a shakeout. Should be an interesting Friday close.
  • #10,388
  • Jan 21, 2011 9:36am Jan 21, 2011 9:36am
how would you interpret this bar? even on the 5M it looks confusing to me. i'd say this looks like a shakeout, but it's not really in the right place. Maybe a test because it does print a higher low? guess we'll have to wait for this current bar to close to see if indeed we do get a higher low.
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Change is the only constant
  • #10,389
  • Jan 21, 2011 9:40am Jan 21, 2011 9:40am
Quoting NaughtyPip
Are reverse up thrust and shakeouts the same thing?

If so does that make an upthrust the same thing as a shakeout??

Regards
Essentially yes. UT are signs of weakness and are generally seen near tops, but can also indicate downtrend continuation if seen in a down move. Shakeouts are signs of strength and seen near bottoms, can also indicate uptrend continuation if seen in an upmove. Both need to have higher volume than the previous 2 bars. Visually the do look like mirror images.
Change is the only constant
  • #10,390
  • Jan 21, 2011 9:44am Jan 21, 2011 9:44am
I think we continue to see buying during this NY session. We're closely aligned with the S&P, as is the EURUSD. This whole area is a pretty big congestion zone and 1.6 is psycholigically big, with lots of wood to chop through here. Watch the (yellow) DTL. The hourly closes seem important at this point. If we fall & close below 1.5944, then I'm far less optimistic. Should one of those super-optimistic Fridays take hold in NY, we could shoot through here. Gotta worry though about London profit taking and shaping of the weekly print. Was a little surprised how easily 1.6 was passed earlier this week, but am chalking that up to an overshoot or optimism.
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  • #10,391
  • Jan 21, 2011 9:47am Jan 21, 2011 9:47am
GU, be longing this.
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  • #10,392
  • Jan 21, 2011 10:00am Jan 21, 2011 10:00am
Quoting Sonofsin5
GU, be longing this.

That was a very nice clear vsa trade on the pound, Update, now long and holding, stop +1.
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  • #10,393
  • Jan 21, 2011 10:02am Jan 21, 2011 10:02am
Quoting pres78
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.
Closed my second trade at 3590 (to avoid the 3600 level just in case) for 160 pips. Have a great weekend everybody.
Today's zone = Tomorrow's opportunity!
  • #10,394
  • Jan 21, 2011 10:04am Jan 21, 2011 10:04am
Quoting pres78
Closed my second trade at 3590 (to avoid the 3600 level just in case) for 160 pips. Have a great weekend everybody.
Great trading, VSA kicked the euros arse this week, I hope next week will be the same.
  • #10,395
  • Jan 21, 2011 10:10am Jan 21, 2011 10:10am
Quoting pres78
Closed my second trade at 3590 (to avoid the 3600 level just in case) for 160 pips. Have a great weekend everybody.
Excellent trade! Closed mine a 3580 on the break of what looked like a failed test on the 5M chart. +60 for a Friday, can't complain!

Have a great weekend!
Change is the only constant
  • #10,396
  • Jan 21, 2011 10:13am Jan 21, 2011 10:13am
holy!

pull up 2hr S&P 500 chart...now thats a pin!
  • #10,397
  • Jan 21, 2011 10:16am Jan 21, 2011 10:16am
Quoting Dr.Geppynius
holy!

pull up 2hr S&P 500 chart...now thats a pin!
You could knit a sweater with that thing.
  • #10,398
  • Jan 21, 2011 10:25am Jan 21, 2011 10:25am
btw. i have seen such bars fail
  • #10,399
  • Jan 21, 2011 10:26am Jan 21, 2011 10:26am
anyone shorting the 5M ND on EU? not me. done for the day
Change is the only constant
  • #10,400
  • Jan 21, 2011 10:31am Jan 21, 2011 10:31am
you are shorting a pair which is in superbull mode. wh not buy signals on dips
eur has bunch of options expiring on monday, pushing it through 1.3600 today saves them a big chunk of money.

Quoting tgwhbb
anyone shorting the 5M ND on EU? not me. done for the day
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