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  • #385,461
  • Feb 13, 2011 9:46am Feb 13, 2011 9:46am
my levels

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  • #385,462
  • Feb 13, 2011 9:46am Feb 13, 2011 9:46am
Quoting FibbinArchie
Heya Kill, I think at the moment it's in the balance (isn't it always??) depends on if this minor correction follows through into a more significant up move, like I said, the data isn't very reliable since the rally occurred right into the weekly close... All told, looks to be still in longer term consolidation, unless we make a sustained break below 3500...

hey bro hope u had a great weekend

true i will not predict the market will show us where its going , i do take it hour by hour ,lets see what will happen tonight and go from there
  • #385,463
  • Feb 13, 2011 9:47am Feb 13, 2011 9:47am
Quoting attila
I am sure malc will reply. In the mean time let me try to take a stab at this. What you are saying is true, in part. The price moves based on supply/demand, regardless of how we see that on our charts. Some use s/r, PA, VSA, etc. etc. The point is this. There is ALWAYS demand in the marketplace. What makes prices move up/down is the amount of supply. This is what the smart money manipulate. So, if the price is falling, it means a lot of supply for that side of the pair. How do one stop that drop? By drying up the supply, and that's done by buying...
Hi Atilla,

thank you for your explanation. That was valuable. But when I remind correctly, the bars Malc showed were down bars, or am I deadly wrong. Have to search the postings......
  • #385,464
  • Feb 13, 2011 9:49am Feb 13, 2011 9:49am
Quoting SunTrader
Yes do it MA's are a total waste of time and energy - so VSA can't hurt. Although I look at volume per se with other confirming factors and not the typical VSA kinda way.

Tea leaves are better than MA's,

i love those tea leaves the green ones for sure
  • #385,465
  • Feb 13, 2011 9:50am Feb 13, 2011 9:50am
Quoting jaylovin
hit the nail right on the head... its pretty obvious the value of the euro at 1.38 upwards is way too expensive and charts tell us people don't want to buy at this price... fundamentally it can keep going higher but technically we are not seeing this....
  • #385,466
  • Feb 13, 2011 9:52am Feb 13, 2011 9:52am
Quoting pinkiaiii
Hi markus i agree on your point and i see it like this:when majority went shorting when we reached 1.29 buyers came in and bought all the sells till 1.38 at that point we reached 93% sellers and no new buyers who would be able to push prices,at this point the down fall starts,and people start to reorganize their positions and slowly the buyers equal out to the sellers again until new direction is formed again.Am i right or is it different ?
Absolutely right, man :-)

Have a nice afternoon in Ireland,

Markus
  • #385,467
  • Feb 13, 2011 9:55am Feb 13, 2011 9:55am
Quoting FibbinArchie
Can't really argue with your stochastics analysis after last weeks performance, two for two??
I believe it was you that pointed out that a single indicator is not the best market strategy, especially on how the stochs corrected on the shorter time frames...

I know what I need to see based on the selection of colors I use on my charts in order to take on a trade, and for the weekly opening, if all stays the same, I am initially looking at some short term buying action before the next wave of exodus. Support on the 5m chart as a close on Friday, H4 stochs correcting to the north, 2 identifiable points to draw a possible UTL from and resistance on the shorter TFs...

Again, best guess on what I see...

One of the phrases a fella drummed into my head as I was making my way from the world of stocks into the realm of forex is, "It is only true until it isn't true anymore"...

So, not all eggs in one basket, follow the shorter terms as they apply to the longer and follow the flow of money...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #385,468
  • Feb 13, 2011 9:55am Feb 13, 2011 9:55am
Portugal printed a new high last week and there are no signs of slowing down. Further signs of a weakening Euro, although the S&P is printing new highs. I like the 1.36 area for a short.
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  • #385,469
  • Feb 13, 2011 9:55am Feb 13, 2011 9:55am
Quoting Magix
I still think we will see the daily 200EMA killer, it's just a matter of when it gets there and what is going to happen when it does...will it hold or will it fold?

Checking out a few of the tfs and working off the H4, I see a possible play range and some action that resembles what I got on the chart.

Really, until the chart is printed, all we got is a reasonable forecast...

will do u care where it gos i dont, zig zag the b:::::::::::::ch , the 200 on d is a must it might take some time its ok
  • #385,470
  • Feb 13, 2011 9:57am Feb 13, 2011 9:57am
Quoting bbakker
Portugal printed a new high last week and there are no signs of slowing down. Further signs of a weakening Euro, although the S&P is printing new highs. I like the 1.36 area for a short.

hey BB

long time hope all great
  • #385,471
  • Feb 13, 2011 9:58am Feb 13, 2011 9:58am
Quoting stewrigh
Yeah me too and I still don't understand it lol.

Statements like pros buy down bars is also a bit simplistic IMO - I think Magix said it earlier 'sell if its going down and buy if its going up' - I thought thats what the pros(and everyone else) did - the trend is your friend.

Malc obviously believes strongly that VSA works and it probly does for him but I think I'll pass on it and stick to what I know.
  • #385,472
  • Feb 13, 2011 9:59am Feb 13, 2011 9:59am
Quoting kill56
i love those tea leaves the green ones for sure
Thems ain't tea leaves killer, that's Julio!
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #385,473
  • Feb 13, 2011 10:00am Feb 13, 2011 10:00am
Quoting infinitus
Absolutely right, man :-)

Have a nice afternoon in Ireland,

Markus
hey markus hows u weekend
  • #385,474
  • Feb 13, 2011 10:04am Feb 13, 2011 10:04am
Quoting kill56
hey BB

long time hope all great
All good until some of my work colleagues complained about me trading at work about a week ago. Although previously management turned a blind eye, they had to act on the complaints!

I know who they are, the back-stabbing fookers! The ones who are pissed that I got a promotion. Not my fooking fault I can do twice the work in half the time and I get 10/10 in the customer surveys.

No problem for me! I just work of the daily timeframes now. Means I only get a couple of trades a week, but that suits me fine.

Hope you're all good too!
  • #385,475
  • Feb 13, 2011 10:05am Feb 13, 2011 10:05am
Quoting Magix
Thems ain't tea leaves killer, that's Julio!
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  • #385,476
  • Feb 13, 2011 10:08am Feb 13, 2011 10:08am
Quoting kill56
Now that Granny is smoking a Camberwell Carrot! Withnail and I... quality film!
  • #385,477
  • Feb 13, 2011 10:08am Feb 13, 2011 10:08am
Quoting SunTrader
Yes do it MA's are a total waste of time and energy - so VSA can't hurt. Although I look at volume per se with other confirming factors and not the typical VSA kinda way.

Tea leaves are better than MA's,
another indicator to look into

http://www.youtube.com/watch?v=9F11rPQ3Ez0
  • #385,478
  • Feb 13, 2011 10:10am Feb 13, 2011 10:10am
Quoting Magix


Amusing to be sure, but me thinks you might be a touch confused on how to work with them.
Take any set of data (price of tea in china) and plot any length of MA and you are bound see all kinds of reactions and counter-reactions and it all means zippo.

Price not some derivation is what I want.

Confused? No, reality based trading it is called. This is serious stuff.

I get my laughs outside of trading.
  • #385,479
  • Feb 13, 2011 10:11am Feb 13, 2011 10:11am
Quoting bbakker
All good until some of my work colleagues complained about me trading at work about a week ago. Although previously management turned a blind eye, they had to act on the complaints!

I know who they are, the back-stabbing fookers! The ones who are pissed that I got a promotion. Not my fooking fault I can do twice the work in half the time and I get 10/10 in the customer surveys.

No problem for me! I just work of the daily timeframes now. Means I only get a couple of trades a week, but that suits me fine.

Hope you're all good too!
lol i hate back stabbing MF u need some C4 to stick it in there azz's
  • #385,480
  • Feb 13, 2011 10:13am Feb 13, 2011 10:13am
Quoting knuckledrag
another indicator to look into

http://www.youtube.com/watch?v=9F11rPQ3Ez0
Thanks knuck, but even though this isn't my trading computer I don't do video's on youtube or anywhere else because I have an aversion to hidden treasures i.e. worms/trojans/etc.
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