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vsa with Malcolm

  • #10,881
  • Jan 29, 2011 6:48am Jan 29, 2011 6:48am
Quoting Intel
How do you know where to look for the higher TFs?
Ah ok, I found it.
  • #10,882
  • Jan 29, 2011 7:14am Jan 29, 2011 7:14am
Thank you mal, for give me an insight in your thoughts and all the other things you have teach me in the last weeks.
I´ve a lot to learn to see the whole picture, but i´m hopeful to get there step by step with reading all the helpful things in this brillant thread.

Quoting malcolmb14
if the low of the 4 hour candle break 1.3600 , on Monday then as we had high volume on a down bar closing on its lows , with ONLY a 20 pip retrace we can only assume that it was ALL sellers.

1.3600 breaks next session then 1.3300 to even 1`.3150 target for week....
Trade well and many pips to all. Martin
  • #10,883
  • Jan 29, 2011 8:41am Jan 29, 2011 8:41am
Quoting malcolmb14
if the low of the 4 hour candle break 1.3600 , on Monday then as we had high volume on a down bar closing on its lows , with ONLY a 20 pip retrace we can only assume that it was ALL sellers.

1.3600 breaks next session then 1.3300 to even 1`.3150 target for week....
Don't like your idea. If on H4 mushroom really is forming then it should go up on some point and lock in friday's shorters. But 300 or even 450 like you say is total reversal. Who will give up all that money? Not market makers. So back up is my hope and slowly cooking shorters out and then down.
  • #10,884
  • Jan 29, 2011 9:37am Jan 29, 2011 9:37am
Quoting hutrader
...You have to take a position since there is an ultra low volume bar what you can't resist. So would you go long or short?
I reject your premise sir. For I am already long.

Take a look at the two charts below. I have used my charts that were actually taken at the time.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Dual 1.png Size: 36 KB
Click to Enlarge Name: Dual2.png Size: 32 KB
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #10,885
  • Jan 29, 2011 10:06am Jan 29, 2011 10:06am
Quoting HiddenGap
I reject your premise sir. For I am already long.

Take a look at the two charts below. I have used my charts that were actually taken at the time.
Hey YOU CHEAT. You have to enter where he said NOT where the market tells us is best to enter. What are you......some kind of trader or something
  • #10,886
  • Jan 29, 2011 10:07am Jan 29, 2011 10:07am
Quoting HiddenGap
I reject your premise sir. For I am already long.

Take a look at the two charts below. I have used my charts that were actually taken at the time.
BTW, like the separation on the bars. A little easier on the eye
  • #10,887
  • Jan 29, 2011 10:13am Jan 29, 2011 10:13am
Great discussion going on here as always. Long or short depends on the TF IMHO.
  • #10,888
  • Jan 29, 2011 10:27am Jan 29, 2011 10:27am
you are wrong. JUST on this picture, without any knowledge of anything else except than on this picture, there is no trap or anything else. there are all the wyckoff principles on that and this is not weak-limited to everything we see on the picture. you just mark a single nd and ignore everything else behind us. what you call nd is actually a successful test. preliminary support, selling climax, testing and building of the course to the upside. how can this be weak if the high vol hit us sideways and was actually tested. the nd here could lead to further testing but in no way i would short until this high vol below us has been broken to the downside and rejected from below. if this was a 5min chart than the signals might just work for 5 minutes.

Quoting mima
the whole story on this picture is classic Bull trap (go short)...as Intel said: If I was FORCED to enter here...

http://www.forexfactory.com/attachme...1&d=1296295487
  • #10,889
  • Jan 29, 2011 11:44am Jan 29, 2011 11:44am
Quoting Dr.Geppynius
you are wrong...
Price level where I draw horizontal line (to the left) shows that there is big imbalance between supply and demand...so there is more sellers then buyers and price dropped. When price come back again to that level it will drop again...Based on that simple logic I said that is Bull trap: Whoever entered or was already long will be trapped because price will go down...
ND, for me , just was one more indication for expected price drop.

I reserve right to be wrong...
The Market pays you to be disciplined
  • #10,890
  • Jan 29, 2011 11:59am Jan 29, 2011 11:59am
Quoting amletit
Do you have a chart? I can never see those stupid mushrooms!!!
Yep.
Attached Image (click to enlarge)
Click to Enlarge Name: buuhh16.gif Size: 27 KB
  • #10,891
  • Jan 29, 2011 12:11pm Jan 29, 2011 12:11pm
whatever...

you do not want to understand what i wrote about whats behind us, don't you?
i do not care about what eur did, i am only referring to that specific part of the chart he posted.

"because price will go down"

i forgot, that trading is that easy


Quoting mima
Price level where I draw horizontal line (to the left) shows that there is big imbalance between supply and demand...so there is more sellers then buyers and price dropped. When price come back again to that level it will drop again...Based on that simple logic I said that is Bull trap: Whoever entered or was already long will be trapped because price will go down...
ND, for me , just was one more indication for expected price drop.

I reserve right to be wrong...
  • #10,892
  • Jan 29, 2011 12:11pm Jan 29, 2011 12:11pm
nice one

Quoting 1pipperhour
Yep.
  • #10,893
  • Jan 29, 2011 12:18pm Jan 29, 2011 12:18pm
I had been watching this stock for a while using VSA. Some people were long and asking how could you have anticipated the drop.
Attached Image (click to enlarge)
Click to Enlarge Name: ROVI.png Size: 43 KB
  • #10,894
  • Jan 29, 2011 12:45pm Jan 29, 2011 12:45pm
Quoting 1pipperhour
Yep.
  • #10,895
  • Jan 29, 2011 12:47pm Jan 29, 2011 12:47pm
Quoting Dr.Geppynius
whatever...trading is that easy
OK, please attach rest of the chart. What happened after ND(successful test)?
The Market pays you to be disciplined
  • #10,896
  • Jan 29, 2011 12:58pm Jan 29, 2011 12:58pm
what is your problem mima?

in hindsight it is pretty easy! i have not yet watched the chart or searched this spot!

all i say is about this specific screenshot! i do not know if we are in an uptrend or downtrend here...if we are in a downtrned ofcourse shorts are favorable, vice versa for longs. but thats what most here know- not to fight the trend.
so everything else beside the principles seen here does not matter.


Quoting mima
OK, please attach rest of the chart. What happened after ND(successful test)?
  • #10,897
  • Jan 29, 2011 1:00pm Jan 29, 2011 1:00pm
Quoting mima
OK, please attach rest of the chart. What happened after ND(successful test)?
Normally i wouldn't trade at such a time(resistance in the background low volume high spread ups) but i too would have shorted if forced , the market however can do anything.
  • #10,898
  • Jan 29, 2011 1:11pm Jan 29, 2011 1:11pm
Quoting mima
OK, please attach rest of the chart. What happened after ND(successful test)?
Be careful. Don't make the error of equating result with the validity of an entry signal. If you are going to do that, you can join the holy grail chasers..........

It's a test in a rising market and that is one of the best signals to see. Tom says that if you only took upthrusts you would have to be a very poor trader not to make money. Well, the same is true for tests in a rising market. This is of course because of the validity of the signal and not result of any one trade.

Of course the test at in the balance area where price could not close below the Trigger Level (c) nor the low of the balance area was all you needed to know to get in. By the time this test occurs, many are looking for ways to get out or at least protect profits.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #10,899
  • Edited 2:03pm Jan 29, 2011 1:14pm | Edited 2:03pm
Quoting Dr.Geppynius
absolutely...

The volume on the inverted hammer however is far higher than anything produced by the up move so far and the subsequent bar is down....there could be market momentum etc..but what i would do is if i were in a trade i would lock in the profits or wouldn't trade at all
  • #10,900
  • Jan 29, 2011 1:40pm Jan 29, 2011 1:40pm
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