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vsa with Malcolm

  • #11,881
  • Feb 10, 2011 12:53am Feb 10, 2011 12:53am
Quoting juhanimi
That looks like NoDemand and in really right place.
Yes, thats right, but that was yesterday when the composit operator was already at home
  • #11,882
  • Feb 10, 2011 1:00am Feb 10, 2011 1:00am
Quoting Plata
Yes, thats right, but that was yesterday when the composit operator was already at home
It's after London close, volumes generally thin off then. But yes, it is something to pay attention to.
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #11,883
  • Feb 10, 2011 1:01am Feb 10, 2011 1:01am
Quoting Plata
Yes, thats right, but that was yesterday when the composit operator was already at home
Difficult to read charts with that kind of thinking.."we do not care about that, because it was evening in Europe.."
  • #11,884
  • Feb 10, 2011 1:23am Feb 10, 2011 1:23am
Quoting rahulkghosh
I'm seeing no supply here. Think we're bottoming off here in the 80-90 region and headed back up through yesterday's highs. Haven't seen any signs of big distribution over last 24 hours. And note we had tons of accumulation over the last week...
I would say 1.3650 more likely if you watch from H4.
  • #11,885
  • Edited 2:06am Feb 10, 2011 1:40am | Edited 2:06am
Price currently testing the 50-61.8 fib and near the uptrend channel, so I expect it to consolidate there for a few candle before jump up again. Chart on 15m
But lots of news today, hard to trade though
  • #11,886
  • Feb 10, 2011 2:19am Feb 10, 2011 2:19am
Quoting juhanimi
Difficult to read charts with that kind of thinking.."we do not care about that, because it was evening in Europe.."
No, you've been right! I'd love to have a short running, entered there
Lets see how your channel works out!
  • #11,887
  • Feb 10, 2011 2:25am Feb 10, 2011 2:25am
I would not short this yet. EU
  • #11,888
  • Feb 10, 2011 2:49am Feb 10, 2011 2:49am
Maybe EU is so bearish that there will not be retracement, difficult to say atm.
  • #11,889
  • Feb 10, 2011 2:51am Feb 10, 2011 2:51am
see the acceleration of the move- angle of the of the upper tls get's sharper. towards the end of the move we see this kind of vertical acceleration for the biggest pain of traders.
i think we see a first stopping attempt here on this spring. now we want to see some climactic action lower, shakeouts and testing. best spot for longs would be test of 3650 if we come back above it. from the timing this action to me looks like euro morning market shakeout to see rallying later in us.
will keep posting updated charts.
don't get me wrong, there is absolutely no trade here yet, we just observe potential base forming, now we have to wait for the other principles to follow and confirm our view.

http://img832.imageshack.us/img832/3...0210094231.png
  • #11,890
  • Feb 10, 2011 2:54am Feb 10, 2011 2:54am
Don't you see some bearish activity happening here?

Looking for longs probably not a good idea..
  • #11,891
  • Feb 10, 2011 2:57am Feb 10, 2011 2:57am
It can be shakeout and buying, we will see after few hours.
  • #11,892
  • Feb 10, 2011 3:00am Feb 10, 2011 3:00am
Quoting Musashi
Don't you see some bearish activity happening here?

Looking for longs probably not a good idea..
I think Dr. has it spot on. We can look for reversal setups in this area. We have seen the first signs of strength coming in already. Wait for the tide to change before entering tho.
  • #11,893
  • Feb 10, 2011 3:01am Feb 10, 2011 3:01am
Quoting Musashi
Don't you see some bearish activity happening here?

Looking for longs probably not a good idea..
That's typical way of thinking of the herd, don't go short if you don't want to catch the falling knife
  • #11,894
  • Feb 10, 2011 3:02am Feb 10, 2011 3:02am
Quoting Intel
I think Dr. has it spot on. We can look for reversal setups in this area. We have seen the first signs of strength coming in already. Wait for the tide to change before entering tho.
Exactly how do you guys determine when is the best time to exit these positions once you take them?
  • #11,895
  • Feb 10, 2011 3:04am Feb 10, 2011 3:04am
Quoting duyk20
That's typical way of thinking of the herd, don't go short if you don't want to catch the falling knife
Just closed a short position at this level on the Pound for +30.7 Pips which was 2.55 x risk on the trade.

I'm always on the look out for a very good mechanical exit strategy.

Which is why I asked how you guys determine your eixts using this system of VSA.
  • #11,896
  • Feb 10, 2011 3:05am Feb 10, 2011 3:05am
Got just mail from one b_roker they went short from 1.3638, that is for me almost like a buy signal.
  • #11,897
  • Feb 10, 2011 3:12am Feb 10, 2011 3:12am
of course there is some selling going on, otherwise we would not have dropped.
secure shorting was above 3700 to play a correction, in this area i won't short until proven wrong. often such aggressive moves in the european morning get reversed later on, just a part of the scare tactics.
of course i can be wrong, but i won't take a trade until the us session begins and the gbp rate decision insanity is over. i just observe what could be on the cards later on.

Quoting Musashi
Don't you see some bearish activity happening here?

Looking for longs probably not a good idea..
  • #11,898
  • Feb 10, 2011 3:13am Feb 10, 2011 3:13am



Quoting juhanimi
Got just mail from one b_roker they went short from 1.3638, that is for me almost like a buy signal.
  • #11,899
  • Feb 10, 2011 3:14am Feb 10, 2011 3:14am
Quoting juhanimi
Got just mail from one b_roker they went short from 1.3638, that is for me almost like a buy signal.
It shows a nd there on 10 min.
  • #11,900
  • Feb 10, 2011 3:21am Feb 10, 2011 3:21am
Quoting 1pipperhour
It shows a nd there on 10 min.
Yes, I was thinking that 1.3710-20 should be tested with ND`s that this would be change of a trend and they have SL in 1.3705. Like in worst place.
We will see.
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