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vsa with Malcolm

  • #10,781
  • Jan 27, 2011 12:30pm Jan 27, 2011 12:30pm
Quoting tgwhbb
a bit late on the trade, but long at 3701. My eSignal feed shows that marked downbar as a NS - lowest vol 5M bar of the day. SL at 3686, just below the shakeout-type bar.

if this one gets stopped out too, i'm calling it a day. I tried a long before but was too aggressive and didn't wait for the down trend to stop making lower lows.
Getting there slowly! Any particular target in mind?
  • #10,782
  • Jan 27, 2011 12:33pm Jan 27, 2011 12:33pm
Quoting KinsaleForex
Getting there slowly! Any particular target in mind?
was targeting 3730, but watching this unfold is like pulling teeth. closed it at +1 which will probably turn out to be the wrong thing to have done, but can't watch it closely for the next couple of hours.

EDIT: 3730 is where most of the US tick volume has been, so price should drift back there. But its now stuck on today's POC set during the asia session, so who knows where it can go from here.
Change is the only constant
  • #10,783
  • Jan 27, 2011 12:38pm Jan 27, 2011 12:38pm
Quoting tgwhbb
was targeting 3730, but watching this unfold is like pulling teeth. closed it at +1 which will probably turn out to be the wrong thing to have done, but can't watch it closely for the next couple of hours.

EDIT: 3730 is where most of the US tick volume has been, so price should drift back there. But its now stuck on today's POC set during the asia session, so who knows where it can go from here.
Wrong time of day really. Small profit nonetheless!
  • #10,784
  • Jan 27, 2011 12:39pm Jan 27, 2011 12:39pm
think were seeing some distribution
Attached Image (click to enlarge)
Click to Enlarge Name: eu daily.gif Size: 24 KB
  • #10,785
  • Jan 27, 2011 1:06pm Jan 27, 2011 1:06pm
I'd say absobrtion.
  • #10,786
  • Jan 27, 2011 1:18pm Jan 27, 2011 1:18pm
Quoting tgwhbb
was targeting 3730, but watching this unfold is like pulling teeth. closed it at +1 which will probably turn out to be the wrong thing to have done, but can't watch it closely for the next couple of hours.

EDIT: 3730 is where most of the US tick volume has been, so price should drift back there. But its now stuck on today's POC set during the asia session, so who knows where it can go from here.
Well it was a good call on the return to 3730... Ah well more opportunities tommorow.
Today's zone = Tomorrow's opportunity!
  • #10,787
  • Jan 27, 2011 1:33pm Jan 27, 2011 1:33pm
Quoting pres78
Well it was a good call on the return to 3730... Ah well more opportunities tommorow.
well! nice to see EU back around 3730. One could say i'm starting to understand things!!

the "plan the trade" aspect is starting to shape up Next stop is "trading the plan"!

Its a shame my job has to get in the way of this
Change is the only constant
  • #10,788
  • Jan 27, 2011 1:34pm Jan 27, 2011 1:34pm
Quoting hutrader
I'd say absobrtion.
I'd say absorption, too. This is the 61.8 fibonacci level on the daily chart.
On the other hand price retraced there in november. A close above this level is significant

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 92 KB
  • #10,789
  • Jan 27, 2011 1:36pm Jan 27, 2011 1:36pm
Quoting tgwhbb
well! nice to see EU back around 3730. One could say i'm starting to understand things!!

the "plan the trade" aspect is starting to shape up Next stop is "trading the plan"!

Its a shame my job has to get in the way of this
I hear you on that... damn fulltime job.
Today's zone = Tomorrow's opportunity!
  • #10,790
  • Jan 27, 2011 1:54pm Jan 27, 2011 1:54pm
Quoting Plata
I'd say absorption, too. This is the 61.8 fibonacci level on the daily chart.
On the other hand price retraced there in november. A close above this level is significant

Attachment
Yes 3740-3750 is a key level for the bulls.
Today's zone = Tomorrow's opportunity!
  • #10,791
  • Jan 27, 2011 2:34pm Jan 27, 2011 2:34pm
Quoting malcolmb14
....

I guess his mind was brainwashed by all the bad news out there
Sad but true, I heared he was highjacked by the professional operators to orient him right - Maybe we can't trust him anymore

Attached Image
  • #10,792
  • Jan 27, 2011 2:41pm Jan 27, 2011 2:41pm
Quoting malcolmb14
damn eu moves 700 pip and now he is bullish

I asked him question about monthly and weekly futures and up move in euro off 1.3 and he told me it is going lower .... even though the weekly did not say so ....

I guess his mind was brainwashed by all the bad news out there
Despite all the hype for the down move im still thinking its gona go up,dont want to take a position just yet but if it makes a breakout il buy on the retracment,what did gavin say hes gonna make some forex webinars or a trading room i didnt get that
  • #10,793
  • Jan 27, 2011 4:27pm Jan 27, 2011 4:27pm
check your 60 min ... you will see what is going on here ... thinking 4250 next week

Quoting scotie pipen
think were seeing some distribution
Blogging daily now at www.volume.zone
  • #10,794
  • Jan 27, 2011 4:29pm Jan 27, 2011 4:29pm
Quoting malcolmb14
check your 60 min ... you will see what is going on here ... thinking 4250 next week
What do you see for tommorow? Test of 3800 tommorow followed by a retrace and test on Monday of this 3744 resistance (61.8 fib and Weekly Resiatnce) to see if it will act as support?
Today's zone = Tomorrow's opportunity!
  • #10,795
  • Jan 27, 2011 4:34pm Jan 27, 2011 4:34pm
Eventhough I had only a couple of hours available to watch the charts, today´s action was pretty nice thanks to Intel and HiddenGap´s trigger numbers. I am learning to see the 5 min charts in a whole new way.
Didn´t trade GU but was able to catch about 40 pips from EU.
One question, does the spread of the NS bar matter or just the volume? I was thinking the spread of the first one marked was rather large.
Attached Image (click to enlarge)
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  • #10,796
  • Jan 27, 2011 4:42pm Jan 27, 2011 4:42pm
Quoting mttrader
Eventhough I had only a couple of hours available to watch the charts, today´s action was pretty nice thanks to Intel and HiddenGap´s trigger numbers. I am learning to see the 5 min charts in a whole new way.
Didn´t trade GU but was able to catch about 40 pips from EU.
One question, does the spread of the NS bar matter or just the volume? I was thinking the spread of the first one marked was rather large.
Others can correct if I am wrong but I see it per below. The two bars you marked were normal range and close on the low, on low volume so I would call these no supply or no selling pressure. NS's normally you want them to close more towards the middle off the low.
Attached Image (click to enlarge)
Click to Enlarge Name: gu5minjan27.gif Size: 63 KB
Today's zone = Tomorrow's opportunity!
  • #10,797
  • Edited 4:49pm Jan 27, 2011 4:48pm | Edited 4:49pm
Quoting mttrader
Eventhough I had only a couple of hours available to watch the charts, today´s action was pretty nice thanks to Intel and HiddenGap´s trigger numbers. I am learning to see the 5 min charts in a whole new way.
Didn´t trade GU but was able to catch about 40 pips from EU.
One question, does the spread of the NS bar matter or just the volume? I was thinking the spread of the first one marked was rather large.
One thing to remember is that it's all relative. A No Supply should technically be a narrow spread but this is in comparison to the bars behind it. Both of the bars you have marked are too wide for my personal liking and the second one doesn't have volume less than the previous two bars. If you look at the second one you marked, two bars before that is a nice No Supply.

That's my view on it anyway, hope that helps

Edit - Just like pres has highlighted above me!
  • #10,798
  • Jan 27, 2011 7:45pm Jan 27, 2011 7:45pm
Unfortunately I don't yet have the trading discipline that HG has...

Shouldn't be trading this time of day but this short set-up was just to nice.

Upthrust on higher volume, confirmed down move, hull red, under PAL and only 15pip stop. Once I saw that nice ND I was in. This one moved down quick (20 mins) for a nice 2:1, 30 pips.
Attached Image (click to enlarge)
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Today's zone = Tomorrow's opportunity!
  • #10,799
  • Jan 27, 2011 8:52pm Jan 27, 2011 8:52pm
Quoting pres78
Others can correct if I am wrong but I see it per below. The two bars you marked were normal range and close on the low, on low volume so I would call these no supply or no selling pressure. NS's normally you want them to close more towards the middle off the low.

Thanks pres78 and Kinsaleforex - There was definitely a reduction in selling pressure as the volume was low on these bars.
  • #10,800
  • Jan 27, 2011 9:17pm Jan 27, 2011 9:17pm
Anyone could recommend me a broker's demo acc that has reliable volume data feed, similar to esignal, please

Heard someone say Citibank, currently, I'm using Go Market though.
Thank a million times
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