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vsa with Malcolm

  • #10,741
  • Jan 27, 2011 1:55am Jan 27, 2011 1:55am
Quoting 1pipperhour
Did you pick the bottom? I'm still waiting for an entry. PA is a mess. Only H1 looks good.
Im long both EU and GU...

EU is in green pips but GU is in red... will post charts later

Oz
  • #10,742
  • Jan 27, 2011 1:57am Jan 27, 2011 1:57am
Quoting ozzieb88
Im long both EU and GU...

EU is in green pips but GU is in red... will post charts later

Oz
EU retrace forming
  • #10,743
  • Jan 27, 2011 2:05am Jan 27, 2011 2:05am
Quoting 1pipperhour
Did you pick the bottom? I'm still waiting for an entry. PA is a mess. Only H1 looks good.
I am not trading at the moment. Here is the first entry.
Sorry for the poor chart but I'm quite busy at the mo. entry is on break of the high of the NS at 09:35 on my chart.
Attached Image (click to enlarge)
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  • #10,744
  • Jan 27, 2011 2:09am Jan 27, 2011 2:09am
Quoting Intel
I am not trading at the moment. Here is the first entry.
Sorry for the poor chart but I'm quite busy at the mo. entry is on break of the high of the NS at 09:35 on my chart.
Yes, I know. I missed it. Thought you took it.
  • #10,745
  • Jan 27, 2011 2:15am Jan 27, 2011 2:15am
Quoting 1pipperhour
Yes, I know. I missed it. Thought you took it.
Had I been trading instead of standing on the touch line, I certainly would have

EU M5

Look for NSs around the red horizontal line on my chart for 2nd chance long entries.
  • #10,746
  • Jan 27, 2011 2:32am Jan 27, 2011 2:32am
Quoting Intel
Had I been trading instead of standing on the touch line, I certainly would have

EU M5

Look for NSs around the red horizontal line on my chart for 2nd chance long entries.
Did you catch it?
  • #10,747
  • Jan 27, 2011 2:36am Jan 27, 2011 2:36am
Quoting Intel
Had I been trading instead of standing on the touch line, I certainly would have

EU M5

Look for NSs around the red horizontal line on my chart for 2nd chance long entries.
My take on this using wyckoff wave...there shd be a test after this current long spread bar...the wyckoff test..
Attached Image (click to enlarge)
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  • #10,748
  • Jan 27, 2011 2:36am Jan 27, 2011 2:36am
Missed it lol. Just got back and well just a little bit late.
  • #10,749
  • Jan 27, 2011 2:38am Jan 27, 2011 2:38am
Quoting comapip
Missed it lol. Just got back and well just a little bit late.
Shame. It was a text book entry. Good move too.
  • #10,750
  • Jan 27, 2011 2:40am Jan 27, 2011 2:40am
Quoting Intel
I am not trading at the moment. Here is the first entry.
Sorry for the poor chart but I'm quite busy at the mo. entry is on break of the high of the NS at 09:35 on my chart.

that was quite cute with the huge bounce...but how did u arrive at the red line? i mean, how did u get that red line?
  • #10,751
  • Jan 27, 2011 2:43am Jan 27, 2011 2:43am
Quoting Intel
Did you catch it?
Yes @3675. Went with 5% of my account. No mistake this time.
  • #10,752
  • Jan 27, 2011 2:45am Jan 27, 2011 2:45am
Similarly on AU too, wyckoff wave formation to spot those tests...
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  • #10,753
  • Jan 27, 2011 2:47am Jan 27, 2011 2:47am
Quoting ns_karthik
that was quite cute with the huge bounce...but how did u arrive at the red line? i mean, how did u get that red line?
Look for highest volume bars and start from there.
  • #10,754
  • Jan 27, 2011 3:01am Jan 27, 2011 3:01am
Quoting comapip
Look for highest volume bars and start from there.
thanks for the tip...interesting...some more analysis is needed from my side...lemme do that....
  • #10,755
  • Jan 27, 2011 3:01am Jan 27, 2011 3:01am
Quoting ns_karthik
that was quite cute with the huge bounce...but how did u arrive at the red line? i mean, how did u get that red line?
The red line is the first long entry point. The retrace will very often test that area for supply. Through experience of trading these setups, I have found that if I move to BE too early, the retrace will very often stop me out by 1 or 2 pips (REALLY ANNOYING) but, it taught me where to look for the 2nd chance entry!!

High volume trigger numbers seem to be in fashion these days. It tested that area also.
  • #10,756
  • Jan 27, 2011 3:07am Jan 27, 2011 3:07am
Quoting kave
My take on this using wyckoff wave...there shd be a test after this current long spread bar...the wyckoff test..
Attachment
The Wyckoff test....
Attached Image (click to enlarge)
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  • #10,757
  • Jan 27, 2011 3:13am Jan 27, 2011 3:13am
Quoting Intel
The red line is the first long entry point. The retrace will very often test that area for supply. Through experience of trading these setups, I have found that if I move to BE too early, the retrace will very often stop me out by 1 or 2 pips (REALLY ANNOYING) but, it taught me where to look for the 2nd chance entry!!

High volume trigger numbers seem to be in fashion these days. It tested that area also.
that was a clear explanation...just one last question though....how did u arrive at the red line being the first entry point? i mean, i could draw that line anywhere...so why did u choose that specific price as the long entry point? the close of the bar with highest volume or some other way??
  • #10,758
  • Jan 27, 2011 3:16am Jan 27, 2011 3:16am
Quoting kave
The Wyckoff test....
Attachment
Why arent you using the highest volume down bar as your 'prelim support'? That bar is the first to find support in that area.
  • #10,759
  • Jan 27, 2011 3:24am Jan 27, 2011 3:24am
Quoting ns_karthik
that was a clear explanation...just one last question though....how did u arrive at the red line being the first entry point? i mean, i could draw that line anywhere...so why did u choose that specific price as the long entry point? the close of the bar with highest volume or some other way??
Ah ok sorry.

Starting at the dotted blue vertical line.

The first 6 bars form a bottom reversal pattern finishing with 3 up bars. With the high strength seen before this pattern, we can now look for a NS for our long entry. We enter at the break of the high of the NS (thats where the red line should be, not a pip or so below where I drew it!).
  • #10,760
  • Jan 27, 2011 3:29am Jan 27, 2011 3:29am
I've to go now. Just a quicky tho.

EU M5

U high volume wide spread up bar the NS at its close produced an up move. SM now testing that level again.......maybe you can find an entry.
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