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vsa with Malcolm

  • #12,221
  • Feb 13, 2011 6:55pm Feb 13, 2011 6:55pm
Here's a quick trade from this week's open. Entered on ND following strength, exited after a high volume upthrust below last week's close.
Attached Image (click to enlarge)
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  • #12,222
  • Feb 13, 2011 7:55pm Feb 13, 2011 7:55pm
Stop to BE at 1:1 also possible demand

Edit:

Forgot to mention the first three bars show selling, the fourth is my ND entry, the last is possible demand.

Also the third highlighted bar (the upthrust) has the wrong volume histogram bar highlighted. It should be one to the left.
Attached Image (click to enlarge)
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  • #12,223
  • Feb 13, 2011 8:54pm Feb 13, 2011 8:54pm
Hi Frank, I'm waiting for it to retrace to 50-61.8 fib level to enter long
Edit: With the confirmation of volume of course
  • #12,224
  • Feb 14, 2011 12:36am Feb 14, 2011 12:36am
You still adding to your long position malcolm?
  • #12,225
  • Feb 14, 2011 12:36am Feb 14, 2011 12:36am
Quoting kave
Somehow the bars are telling me a continuation move to to Z or maybe the Channel is frying my judgment, But that pin bar is telling me hidden selling, not a shakeout...friday upmove on the last 4 hrs low volume suggest demand low. Yes yes i know Friday volume is low & most do ignore it, but i don't subscribe to this notion of low volume for the sakes of it..is what the price do "when" the volume is low that counts for me. In anycase, 2 scenarios here, a spring back to X & test &/or continue down move to Z & to tell u the truth i love to see a...
Test on Y with a UT & driven down now...
4hr,
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_21 Feb. 14 16.32.gif Size: 34 KB

1hr showing trap upmove on previous ND area..
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  • #12,226
  • Feb 14, 2011 12:39am Feb 14, 2011 12:39am
Quoting kave
After the test on J with a UT with hidden selling, resulted a drive-down pass X & on the verge of testing pre support W...next could be a bounce back to X..gona be sideways now for loonie for a while after that long spread bar...
Attachment
Potential bounce on W as support, next, back up to X?
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_24 Feb. 14 16.38.gif Size: 32 KB
  • #12,227
  • Feb 14, 2011 12:44am Feb 14, 2011 12:44am
Quoting kave
quiet similar to EU, AU seeing supply bars on X as resistance now. Even so, a potential recovery back to Y could also see further weakness..

Attachment
Aussie showing reversal after effort on approaching Y, with a hidden upthrust...
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_25 Feb. 14 16.42.gif Size: 32 KB
  • #12,228
  • Feb 14, 2011 12:58am Feb 14, 2011 12:58am
Quoting kave
AN interim channel can be establish now to ascertain GU's probable move, if the channel glide plays out, we could see price tp Z. In anycase a test back up on X could spell further weakness & the last 3 bars is telling me supply...
Attachment
The test back up to X spell a reversal after effort..now driven down to test W for further weakness to come?

Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_26 Feb. 14 16.55.gif Size: 33 KB
  • #12,229
  • Feb 14, 2011 1:03am Feb 14, 2011 1:03am
I see VSA worked great then
  • #12,230
  • Feb 14, 2011 1:25am Feb 14, 2011 1:25am
Quoting stewrigh
I see VSA worked great then
Anyone forces you to follow VSA?
  • #12,231
  • Feb 14, 2011 1:39am Feb 14, 2011 1:39am
No - Thank god
  • #12,232
  • Feb 14, 2011 1:46am Feb 14, 2011 1:46am
With the permission of the coder Chriz (an impressive person) I share with you this useful indicator for people trading with jforex.
Over the zero line it shows the total Bid+Ask Volume with blue volume bars.
Below the zero line it shows the net difference (Bid-Ask volume) - the green bar means Bid volume overwhelming the Ask (more buying) and vice versa the red one.
(A small tip - if you don't get any green or red past bars below the zero line just add twice the indi on the chart, the bars must appear and then you can delete one of them).
All credits to Chriz.
DT
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_USD_5 Mins_snapshot.png Size: 16 KB
Attached File(s)
File Type: zip AskBidVolumeIndi.zip   7 KB | 486 downloads
  • #12,233
  • Feb 14, 2011 2:16am Feb 14, 2011 2:16am
EU. Just a chart showing how this is the first time price is coming down to the breakout area. Will wait for a reaction. So far looks like testing of the breakout but going long right now (or short) is too risky in my opinion. All sorts of shakeouts could happen. Looking at the downward channel 1.34 could happen which would still be around the breakout level.
Attached Image (click to enlarge)
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  • #12,234
  • Feb 14, 2011 2:17am Feb 14, 2011 2:17am
Quoting stewrigh
No - Thank god
then sling your hook
  • #12,235
  • Feb 14, 2011 2:26am Feb 14, 2011 2:26am
Quoting comapip
EU. Just a chart showing how this is the first time price is coming down to the breakout area. Will wait for a reaction. So far looks like testing of the breakout but going long right now (or short) is too risky in my opinion. All sorts of shakeouts could happen. Looking at the downward channel 1.34 could happen which would still be around the breakout level.
Yes. I think 1.3380-1.34 is the level where we can expect NS (or breakout), and it is monday (usually low volume day), so good chance for that NS in Daily.
  • #12,236
  • Feb 14, 2011 2:33am Feb 14, 2011 2:33am
Quoting stewrigh
No - Thank god
lol. And thank god for a ignore list on FF.
  • #12,237
  • Feb 14, 2011 2:40am Feb 14, 2011 2:40am
[quote=stewrigh;4393206]
Quoting Dr.Geppynius
Daily spot indicates strength, less vol on second test, so futures traders positioned and eur futures got bought imho in anticipation of higher prices- higher vol on friday.

no better charts at my hands currently.




Couldn't it be traders selling(accumulating shorts) in anticipation of lower prices?

Looks like it was sellers then
  • #12,238
  • Feb 14, 2011 3:02am Feb 14, 2011 3:02am
Quoting Musashi
You still adding to your long position malcolm?
No, he'll probably show up later on to say he got short at 1.3550 on some 5min no demand bar or something! lol!
  • #12,239
  • Feb 14, 2011 3:09am Feb 14, 2011 3:09am
Quoting OGW
No, he'll probably show up later on to say he got short at 1.3550 on some 5min no demand bar or something! lol!
Every method has weakness, how you control your risk is what matters most.
  • #12,240
  • Feb 14, 2011 3:10am Feb 14, 2011 3:10am
Quoting OGW
No, he'll probably show up later on to say he got short at 1.3550 on some 5min no demand bar or something! lol!
I think he'll probably say he's taking advantage of all that buying which has just taken place. Price will head north, we have to be patient and wait for the rest of the setup to show itself.
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