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vsa with Malcolm

  • #12,641
  • Feb 16, 2011 4:12am Feb 16, 2011 4:12am
I suspect this is a bull trap shakeout above yesterday daily candle high... going lower...
  • #12,642
  • Feb 16, 2011 4:13am Feb 16, 2011 4:13am
Would be more secure that we broke that top of 10 min wide bar...no?

This is kind of forced trade
Work smart not hard
  • #12,643
  • Feb 16, 2011 4:13am Feb 16, 2011 4:13am
Quoting Musashi
Down hill skiing...
Most of the M15 bars and certainly the H1 bars are showing buyers coming in during the last minutes of their printing. That's a reasonable sign for bulls. We just had a reasonable bounce off 1.3578 and IMO above we've legged another notch above the candles of the last 2 days. A visit to 1.3586/1.360x would not be surprising and could still keep the door open to all options. Plus, we have USD profit taking and selling.

Buyers are undoubtedly present, but the age old question of how many sellers will whack the buyers.

And oh, please don't treat this like the EURUSD thread with 3 or 4 word posts, and no justification.
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  • #12,644
  • Feb 16, 2011 4:20am Feb 16, 2011 4:20am
Quoting Beljevina
Most of the M15 bars and certainly the H1 bars are showing buyers coming in during the last minutes of their printing. That's a reasonable sign for bulls. We just had a reasonable bounce off 1.3578 and IMO above we've legged another notch above the candles of the last 2 days. A visit to 1.3586/1.360x would not be surprising and could still keep the door open to all options. Plus, we have USD profit taking and selling.

Buyers are undoubtedly present, but the age old question of how many sellers will whack the buyers.

And oh, please don't treat...
Sorry mate, I'll try not to do that, this is the chart I'm looking at, unfortunately I'm not that familiar with VSA, however I'm certainly interested in it and have been following this thread for a short amount of time.

I cannot comment from a volume perspective only a price one at this stage.

As you can see from the chart, we have a confluence of factors that suggest price will find resistance in this region.

1. Previous Support Level.
2. 50% Fibonacci Level.
3. Previous Resistance in this region

I hope this helps to understand my reasoning for not wanting to go long on this pair.

However I'm not a swing trader like some of the traders here.

Hope it helps.
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  • #12,645
  • Feb 16, 2011 4:22am Feb 16, 2011 4:22am
Quoting Musashi
I suspect this is a bull trap shakeout above yesterday daily candle high... going lower...
So that is all based on a hunch?

Edit: nevermind now
  • #12,646
  • Feb 16, 2011 4:25am Feb 16, 2011 4:25am
Quoting comapip
So that is all based on a hunch?

Edit: nevermind now
No my friend... it's called experience..
  • #12,647
  • Feb 16, 2011 4:35am Feb 16, 2011 4:35am
Quoting ukdaytrader
Agreed.

On GY, buyers coming in expecting a retest of the high, but the buying is on lower volume. 3 highest volume bars on the 5m chart today so far, show weakness.
i don't see where you're buyers are, i just see selling up there and turning over... not arguing with you but I just don't see it,
(the ND i was aiming at the red bar down but couldn't get it to line up, sorry)
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Catching a falling knife, no, I'm just trading the Gartley!
  • #12,648
  • Feb 16, 2011 4:46am Feb 16, 2011 4:46am
Quoting sony
We are now under the influence of this bar as i can see
I see that TG generates signals like a madman.
  • #12,649
  • Feb 16, 2011 4:52am Feb 16, 2011 4:52am
[quote=1pipperhour;4402897]I see that TG generates signals like a madman.[/quot

If you know where to watch it for and what than it is good ..But yes..it does

I moved SL for 5 pips...just bellow MA20 on 1h chart...
But that was a bad and risky trade...Could get better entry or could not trade at all coos all of those news today
Work smart not hard
  • #12,650
  • Feb 16, 2011 4:54am Feb 16, 2011 4:54am
Swissy has gone apeshit (again)
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  • #12,651
  • Feb 16, 2011 4:55am Feb 16, 2011 4:55am
Quoting sony
I moved SL for 5 pips...just bellow MA20 on 1h chart...
But that was a bad and risky trade...Could get better entry or could not trade at all coos all of those news today
I dislike EU for 2 weeks now. Got burned and afraid to touch it. Taking only the most obvious trades.

Edit: I must try some other pair for a change. Recommendations anyone?
  • #12,652
  • Feb 16, 2011 4:56am Feb 16, 2011 4:56am
Quoting 1pipperhour
I see that TG generates signals like a madman.
Depends what the sensitivity is set to. But i don't think anyone that owns TG trades the signals, at least i'd hope not.

Quoting 1pipperhour
I dislike EU for 2 weeks now. Got burned and afraid to touch it. Taking only the most obvious trades.

Edit: I must try some other pair for a change. Recommendations anyone?
Cable? At least after the current news announcement, might be interesting. I also like Loony and Swissy.
  • #12,653
  • Edited 5:05am Feb 16, 2011 4:58am | Edited 5:05am
Guys forget eu for a while, Cable is more appealing at the moment. Could be a good chance to buy on dip but it's still in markdown period. Patience will pay.
  • #12,654
  • Feb 16, 2011 5:01am Feb 16, 2011 5:01am
Quoting duyk20
Guys forget eu for a while, Cable is more appalling at the moment. Could be a good chance to buy on dip but it's still in markdown period. Patience will pay.
Agreed, I think you mean appealing though
  • #12,655
  • Feb 16, 2011 5:09am Feb 16, 2011 5:09am
GU. Could work out. As of this moment price hasn't broken down out of the channel. Similar to EU really.
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  • #12,656
  • Feb 16, 2011 5:10am Feb 16, 2011 5:10am
Guess we need to see the next hourly bar, confirm buying or not
  • #12,657
  • Feb 16, 2011 5:13am Feb 16, 2011 5:13am
Quoting KinsaleForex
Guess we need to see the next hourly bar, confirm buying or not
Yeah need to see demand if there is any.
  • #12,658
  • Feb 16, 2011 5:28am Feb 16, 2011 5:28am
Quoting comapip
Yeah need to see demand if there is any.
Do you imply need to see price going up? That is more demand that supply?
  • #12,659
  • Feb 16, 2011 5:31am Feb 16, 2011 5:31am
Quoting Musashi
Do you imply need to see price going up? That is more demand that supply?
The wide spread down on Cable 1hr had a lot of volume in it (do you have a chart?) This volume suggests potential hidden buying. If the next bar is up we can treat this as buying on the wide spread down and look for a potential long position.
  • #12,660
  • Feb 16, 2011 5:32am Feb 16, 2011 5:32am
Quoting Musashi
Do you imply need to see price going up? That is more demand that supply?

need to see vol increase, and closes off the lows as it tests lower
Catching a falling knife, no, I'm just trading the Gartley!
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