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vsa with Malcolm

  • #10,501
  • Jan 24, 2011 8:35am Jan 24, 2011 8:35am
Quoting comapip
And another one

"A preset time of day when bids and offers are aggregated and cleared at a published price. Popular fixings are the “ECB fix” at 12:15 GMT and the London fixing at 16:00 GMT. Fixings are used primarily by asset managers. They have a fiduciary responsibility to get their clients the best possible execution and the thinking is the fixing price is the most transparent of the day. The benchmark price is published by the WM Company."
Thanks...
Today's zone = Tomorrow's opportunity!
  • #10,502
  • Jan 24, 2011 8:52am Jan 24, 2011 8:52am
that's it for the chatter kept me in my long
  • #10,503
  • Jan 24, 2011 8:55am Jan 24, 2011 8:55am
Quoting Dr.Geppynius
that's it for the chatter kept me in my long
It didn't drop as much as I thought it might... I saw 3500 - 3475 but it seems to have been stopped for the time being at 3440... I had a long in place also (still do) but I also grabbed 50 pips on the way down.
Today's zone = Tomorrow's opportunity!
  • #10,504
  • Jan 24, 2011 9:03am Jan 24, 2011 9:03am
Unless we se some more signs of strength this move up on the Euro looks a little trappish to me. Carefull about jumping long up here.
  • #10,505
  • Jan 24, 2011 9:04am Jan 24, 2011 9:04am
what was the trigger for going long? I wanted to go long. But couldnt find a proper visual trigger
  • #10,506
  • Jan 24, 2011 9:10am Jan 24, 2011 9:10am
Could it go bearish for a while so I can take my loss... hmm have been short...
  • #10,507
  • Jan 24, 2011 9:45am Jan 24, 2011 9:45am
Common cable, this pa is making me want to punch myself in the face.
  • #10,508
  • Jan 24, 2011 9:46am Jan 24, 2011 9:46am
Quoting ozzieb88
what was the trigger for going long? I wanted to go long. But couldnt find a proper visual trigger
hi!
i don't know how you trade, but with Intel's set up, it was easy pips on the EU...
tx again Intel!! (and come back soon , i miss your charts)
Attached Image (click to enlarge)
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  • #10,509
  • Jan 24, 2011 9:58am Jan 24, 2011 9:58am
Quoting Sonofsin5
Common cable, this pa is making me want to punch myself in the face.
I know what you mean Sonofsin, this price action is very frustrating.
"Don't trade to trade . . . trade to win." - James16
  • #10,510
  • Jan 24, 2011 10:00am Jan 24, 2011 10:00am
Quoting B4iFUrU18
hi!
i don't know how you trade, but with Intel's set up, it was easy pips on the EU...
tx again Intel!! (and come back soon , i miss your charts)
i'm glad you posted that chart with explanations as i was getting bleary eyed trying to see anything in this price action, many thanks!!
Catching a falling knife, no, I'm just trading the Gartley!
  • #10,511
  • Jan 24, 2011 10:12am Jan 24, 2011 10:12am
Here is a 1 hour chart of gbpusd, I can not see why they would not want to take out this low volume bull s$#% top. Today has been very frustrating from a price action speed perspective on the majors although the moves have been steady.
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  • #10,512
  • Jan 24, 2011 10:43am Jan 24, 2011 10:43am
quite the move today on EU! Too bad i wasn't around to get in on it. Hopefully it can give some up so i can get in long...we may be at that time as we've hit the range high almost to the pip (and 4/8 MML). There hasn't been any low risk entries in the last 2 hours

If we close around or above today's open, EU may be forming a low vol test of the breakout area (and 50% fib of the down move since 1.42). That would be a good SOS
Change is the only constant
  • #10,513
  • Jan 24, 2011 10:53am Jan 24, 2011 10:53am
Quoting ChinaWombat
i'm glad you posted that chart with explanations as i was getting bleary eyed trying to see anything in this price action, many thanks!!
you're welcome!
  • #10,514
  • Jan 24, 2011 11:09am Jan 24, 2011 11:09am
now on a 1m eu the price is climbming on lowe volume is this a sigh of weakness
  • #10,515
  • Edited 11:56am Jan 24, 2011 11:45am | Edited 11:56am
today price action take me a great deal of $$$
Hi Malcolm, what's your period for hull MA?
Thax Malcolm
  • #10,516
  • Jan 24, 2011 12:02pm Jan 24, 2011 12:02pm
There was some definate supply that entered at the daily R1 level (Around 3680)... You can see the supply entering on the last 2 1hr upbars and the last 2 hourly candles look bearish but the volume has been extremely low today so who knows where this will go the end of today and into tommorow.
Today's zone = Tomorrow's opportunity!
  • #10,517
  • Jan 24, 2011 12:19pm Jan 24, 2011 12:19pm
Today's profit: 0 pips

Been fighting off a cold this weekend and woke up late today just as EU was pushing up through 1.36. So how is a 0 pip profit a good day? Well, first off I have made 0 trades, as i did not see any good long setups as EU continued up through 1.36 quite quickly. The old me would have jumped in for fear of "missing the trade", the new me has learnt to be patient and let the market come to me - at least most of the time

Plus the old me would probably have jumped in on a sell around 1.3640 as weakness started to appear on the M5 around 15:00 GMT with a possible hidden selling, UT, and ND all on the M5. The new me didn't take that as there was no signs of weakness yet on earlier TFs and still very much in a strong uptrend therefore no shorting.

Now, i'm not perfect, and was tempted to take the short at the top with what i consider a failed test after the break of the 16:15 GMT bar (low vol test). I didn't take that again because we're in a strong uptrend what looks still looks like buying on the H1 as EU pushed up through resistance at around 1.3630 area. EU continued down but I considered that trade too high risk for me so didn't take it.

So thanks again to everyone on this thread. The people here are simply amazing and have helped me become a better trader and better chart reader. I still have a ways to go compared to many on this thread, but i'm heading in the right direction now!

hopefully not too much babbling...the meds may be making me loopy.

Great week to everyone!
Change is the only constant
  • #10,518
  • Jan 24, 2011 12:41pm Jan 24, 2011 12:41pm
Yes, nice that you prooved yourself discipline!
But I want more
Has anybody taken the Wyckoff course?
http://wyckoffstockmarketinstitute.com/course.htm

Great week to you, too! And get well soon!!!
  • #10,519
  • Jan 24, 2011 12:52pm Jan 24, 2011 12:52pm
Quoting pres78
There was some definate supply that entered at the daily R1 level (Around 3680)... You can see the supply entering on the last 2 1hr upbars and the last 2 hourly candles look bearish but the volume has been extremely low today so who knows where this will go the end of today and into tommorow.
Real supply or profit taking/absorption? Here's my interpretation, of course open to other views/interpretations.

Buying in the background below Friday's close. Then the wide spread up bar on high vol (not really ultra high imo) through resistance and holding as it closes above friday's close. The high volume here may be indication of a real continuation up move as volume is needed to push through supply and absorb it. If that is the case, that is yet another sign of strength. Confirmation would come in the form of a test inside that wide spread up bar marked on the chart. I'm looking for a test in the 3600-3640 area for a long entry.
Attached Image
Change is the only constant
  • #10,520
  • Jan 24, 2011 12:57pm Jan 24, 2011 12:57pm
Quoting tgwhbb
Real supply or profit taking/absorption? Here's my interpretation, of course open to other views/interpretations.

Buying in the background below Friday's close. Then the wide spread up bar on high vol (not really ultra high imo) through resistance and holding as it closes above friday's close. The high volume here may be indication of a real continuation up move as volume is needed to push through supply and absorb it. If that is the case, that is yet another sign of strength. Confirmation would come in the form of a test inside that wide spread...
Yes the volume today has been low even on the highest volume bars... Looks like we could be seeing some accumulation on the 15min with what could turn out to be a rounded bottom (still way to ealry to tell) and a lower volume test bar / NS?? of sorts is forming ATM on the 1hr in that zone... perhaps like you say we could simply be building a case for more upside movement.
Today's zone = Tomorrow's opportunity!
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