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vsa with Malcolm

  • #10,521
  • Jan 24, 2011 2:06pm Jan 24, 2011 2:06pm
Quoting tgwhbb
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.
H1 test of Friday's high, successful if we break the high and not the low. Problem is its the wrong time of day. Holding for now, waiting to see if we get a re-test in Asia.
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Change is the only constant
  • #10,522
  • Jan 24, 2011 4:19pm Jan 24, 2011 4:19pm
watch the 1.5970 area of gu for a frankie shake out , gu is being accumualted on dips for a breakout 1.6 IMHO , been keep my eyes on this for a couple of days now waiting for the breakout and test 1.6 to add to long for 1.6300 area
Blogging daily now at www.volume.zone
  • #10,523
  • Jan 24, 2011 4:22pm Jan 24, 2011 4:22pm
The last 7 hours we have been inside the Low to Close portion of the WRB. Right now a break out of this zone is needed for PA to make any signifcant moves. A close below 3630 and I will be looking for a short set-up. A close above 3672 or a nice NS set-up during better hours tommorow (even if still in the zone and I will go in long.
Today's zone = Tomorrow's opportunity!
  • #10,524
  • Jan 24, 2011 4:25pm Jan 24, 2011 4:25pm
This is very inspiring to me:
http://www.nzwide.com/swanlake.htm
The Market pays you to be disciplined
  • #10,525
  • Jan 24, 2011 7:38pm Jan 24, 2011 7:38pm
Took a long for +24 off of no selling pressure

edit: I left my order where it was because the bar following my no selling pressure didn't break the close of the NSP. Next was another NSP/low volume SO, so my entry would be above that anyway
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  • #10,526
  • Jan 24, 2011 7:59pm Jan 24, 2011 7:59pm
Hi frankkn.
What is your hull MA period? And you mind give me the MT4 volume histogram indicator.
Many thanks
  • #10,527
  • Jan 24, 2011 8:04pm Jan 24, 2011 8:04pm
Well we got a close up over that 3672 level which provided the highest 1hr close yesterday... but it is so early in the day... We have already moved 33% of the ADR. What will London and NY do with this move?
Today's zone = Tomorrow's opportunity!
  • #10,528
  • Jan 24, 2011 8:23pm Jan 24, 2011 8:23pm
Quoting pres78
Well we got a close up over that 3672 level which provided the highest 1hr close yesterday... but it is so early in the day... We have already moved 33% of the ADR. What will London and NY do with this move?
What do you make of that last M15 bar? Looks like a hidden UT to me - volume doesn't show it on this screen shot, but my esignal feed shows higher volume on that bar. And the M5 is starting to look weak with several upthrusts in the last 30 minutes or so. I think i'm going to wait till morning...
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Change is the only constant
  • #10,529
  • Jan 24, 2011 8:28pm Jan 24, 2011 8:28pm
Quoting tgwhbb
What do you make of that last M15 bar? Looks like a hidden UT to me - volume doesn't show it on this screen shot, but my esignal feed shows higher volume on that bar. And the M5 is starting to look weak with several upthrusts in the last 30 minutes or so. I think i'm going to wait till morning...
Not sure what to make of it... crazy Asian PA. Waiting to see where we stand at LO.
Today's zone = Tomorrow's opportunity!
  • #10,530
  • Jan 24, 2011 8:38pm Jan 24, 2011 8:38pm
Quoting pres78
Not sure what to make of it... crazy Asian PA. Waiting to see where we stand at LO.
hmm, had to stare at my own screen shot to realize the M15 looks very much like a cup with handle formation in the works. Decreasing volume on the down move during NY afternoon, tightening spread in early asia to form the base, increasing volume to push price up to near the high. All quite bullish if the handle plays out. All that's missing now is the handle formation - a slight drift down to about half the cup on decreasing volume. That would bring EU right back into the long wick of the 14:45 bar to test if there are any more sellers. The "safe" buy if trading the pattern only is the break of the top of the handle which is the marked bar @3684. I would probably expect a VSA setup before that somewhere in the 3650 area in the form of test/NS.

Too bad i have to get some rest!
Change is the only constant
  • #10,531
  • Jan 24, 2011 10:37pm Jan 24, 2011 10:37pm
Quoting tgwhbb
half the cup on decreasing volume.

is that what they mean when someone asks if the cup is half full or half empty


(sorry asian lunchtime attempted humour...)
Catching a falling knife, no, I'm just trading the Gartley!
  • #10,532
  • Jan 25, 2011 1:59am Jan 25, 2011 1:59am
Correct me if I am wrong, but it looks like some strength entering G/U at the moment. My eyes see a no demand. Entered around 1.5950
  • #10,533
  • Jan 25, 2011 2:03am Jan 25, 2011 2:03am
Strength also presented itself yesturday around this price. Hopefully all those hours staring into the screen studying VSA will pay off today haha
  • #10,534
  • Jan 25, 2011 2:19am Jan 25, 2011 2:19am
I guess not, was up 9 pips but exited at -5, oh well.
  • #10,535
  • Jan 25, 2011 2:59am Jan 25, 2011 2:59am
Quoting Sonofsin5
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.
Maybe this was already a sign of weakness?
I was in that same long trade around 1.5958.
This now looks like selling climax
  • #10,536
  • Jan 25, 2011 2:59am Jan 25, 2011 2:59am
Quoting malcolmb14
watch the 1.5970 area of gu for a frankie shake out , gu is being accumualted on dips for a breakout 1.6 IMHO , been keep my eyes on this for a couple of days now waiting for the breakout and test 1.6 to add to long for 1.6300 area
35 min to the UK GDP news, but this has been heading down since Asia on increasing volume ... hasn't done that for quite some time, and we've broken below an H4 UTL. GY looking pretty bearish too. The news is expected to be pretty bad ... will be interesting to see where she flies; the top is not far away, or, it's already behind us ... expecting a reversal week.
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  • #10,537
  • Jan 25, 2011 3:03am Jan 25, 2011 3:03am
Morning Peeps, not too sure if I've said hello on this thread as well, if not - well hello!

So, cable is dropping like a stone on an impending announcement at 9.30 am, the news about it is all very downbeat on the BBC website and as Tom would always say "ignore the news". What are people's thoughts about what is going to happen at 9.30?
  • #10,538
  • Jan 25, 2011 3:35am Jan 25, 2011 3:35am
This is all very interesting, I have support at 1.581. Although we were at a channel top yesterday and I don't see any buying yet.
  • #10,539
  • Jan 25, 2011 3:41am Jan 25, 2011 3:41am
News bar on ultra high volume or whatever you wanna call it with very wide spread. Next bar is up on quite high volume with very narrow spread. We may see more down moves.

Edit: lol notice the support
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  • #10,540
  • Jan 25, 2011 4:13am Jan 25, 2011 4:13am
Quoting Beljevina
35 min to the UK GDP news, but this has been heading down since Asia on increasing volume ... hasn't done that for quite some time, and we've broken below an H4 UTL. GY looking pretty bearish too. The news is expected to be pretty bad ... will be interesting to see where she flies; the top is not far away, or, it's already behind us ... expecting a reversal week.
Record futures volumes. No sign of buying IMO. 220 pips away from GU 1.6 - I think we're done there for a while.

The UK is the 1st of the G7 to report 4Q GDP. Will bet that the US will come out the best of G7, cementing the EU/GU/Gold reversal. Looking for another 100 pips to 1.568 for next TP.
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