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vsa with Malcolm

  • #13,561
  • Feb 21, 2011 4:51am Feb 21, 2011 4:51am
since the us banks officially are on holidays (except their traders sitting on one of their yachts, trading online), there is less liquidity, so markets are easier to move. be it for setting up a trap by moving into the wrong position and adding or be it for reaching a target. to me 3800 today is very reasonable, especially with fridays market ramp job.
  • #13,562
  • Feb 21, 2011 4:56am Feb 21, 2011 4:56am
Do you mind if I ask you about EUR/CAD? I have been watching the pair last week and it seems that it was bought heavily.


Quoting Dr.Geppynius
since the us banks officially are on holidays (except their traders sitting on one of their yachts, trading online), there is less liquidity, so markets are easier to move. be it for setting up a trap by moving into the wrong position and adding or be it for reaching a target. to me 3800 today is very reasonable, especially with fridays market ramp job.
  • #13,563
  • Edited 5:17am Feb 21, 2011 5:06am | Edited 5:17am
the channel is respected as we see.

scaling down to the 5m profile chart shows that the asia lows are nicely supported. we had a few dips below 3684 which is fridays close and offer support.
at 3685 we are 40 pips above fridays poc and 15 above fridays value area high, so shorts are not in our favor.
price currently tests 3680 key which now aligns with the vwap for the day. the vwap slightly attempts to change the slope to the upside since hours.
to me this picture here remains accumulatish.

as i mentioned on the weekend, 3650 would be a 50% retrace of fridays range.

http://img198.imageshack.us/img198/4...0221115939.png

http://img259.imageshack.us/img259/9...0221115557.png
  • #13,564
  • Feb 21, 2011 5:13am Feb 21, 2011 5:13am
the monthly eurcad prints the clearest picture. last month was a nice spring and the current month looks like testing. a monthly close above 3550 on less vol would confirm the strength.
Quoting Fusion
Do you mind if I ask you about EUR/CAD? I have been watching the pair last week and it seems that it was bought heavily.
  • #13,565
  • Feb 21, 2011 5:22am Feb 21, 2011 5:22am
Hi everyone, Hi Dr, how are ya doing? ^_^ Just got home, seem to miss a scalp short
  • #13,566
  • Feb 21, 2011 5:25am Feb 21, 2011 5:25am
Thanks. If U/CAD goes up a few hundred pips, it would be nice for longs....

Quoting Dr.Geppynius
the monthly eurcad prints the clearest picture. last month was a nice spring and the current month looks like testing. a monthly close above 3550 on less vol would confirm the strength.
  • #13,567
  • Feb 21, 2011 5:26am Feb 21, 2011 5:26am
just waiting for eur to break 3700 and enter on a successful test. if i do not get it, i do not trade today. shorts are too risky to me above 3640.

Quoting duyk20
Hi everyone, Hi Dr, how are ya doing? ^_^ Just got home, seem to miss a scalp short
  • #13,568
  • Feb 21, 2011 5:28am Feb 21, 2011 5:28am
"As aforementioned, talk buy orders clustered 1.3640/50, sell orders 1.3710/20."

buy orders 3640-50?? im in shock

although they are probably just geppynius and malcs orders im trying to avoid jumping in long, really want it down to at least 3650 so i can grab long, 20 pip stop should do it then i guess. bit nervous going long anything above there as 3640 might still be tested and i could do without being stopped out, or having to use 50+ pip stop
  • #13,569
  • Feb 21, 2011 5:31am Feb 21, 2011 5:31am
Quoting Dr.Geppynius
just waiting for eur to break 3700 and enter on a successful test. if i do not get it, i do not trade today. shorts are too risky to me above 3640.
hey DRr,

Are you not shorting above 3640 because thats the breakout area from previous tops? alot of locked in traders maybe? stops?
  • #13,570
  • Feb 21, 2011 5:32am Feb 21, 2011 5:32am
in 30m we have 12 gmt which often starts some moves. i wanted 3650, but did not get it yet. don't forget, it is always about areas, not exact prices.

Quoting ewokuk
"As aforementioned, talk buy orders clustered 1.3640/50, sell orders 1.3710/20."

buy orders 3640-50?? im in shock

although they are probably just geppynius and malcs orders im trying to avoid jumping in long, really want it down to at least 3650 so i can grab long, 20 pip stop should do it then i guess. bit nervous going long anything above there as 3640 might still be tested and i could do without being stopped out, or having to use 50+ pip stop
  • #13,571
  • Feb 21, 2011 5:35am Feb 21, 2011 5:35am
this is fridays highest vol price, so unless we break through it and get a sign of no demand in that spot, i will not short with that strength behind us.

Quoting Tea_trader
hey DRr,

Are you not shorting above 3640 because thats the breakout area from previous tops? alot of locked in traders maybe? stops?
  • #13,572
  • Feb 21, 2011 5:37am Feb 21, 2011 5:37am
Quoting Dr.Geppynius
in 30m we have 12 gmt which often starts some moves. i wanted 3650, but did not get it yet. don't forget, it is always about areas, not exact prices.
yeh it got as low as 3660 on my broco feed, just hoping for at least double bottom there or i may have missed the best entry already.

looking at 5min it seems like there was little test and then a ns right at that 3660 bottom but i missed it at the time while waiting for 3640-50 :/
  • #13,573
  • Feb 21, 2011 5:45am Feb 21, 2011 5:45am
Quoting Dr.Geppynius
just waiting for eur to break 3700 and enter on a successful test. if i do not get it, i do not trade today. shorts are too risky to me above 3640.

same here i kinda dont see any short here i dont want to smell my hand later
MY OPINION NOT FINANCIAL ADVISE
  • #13,574
  • Feb 21, 2011 5:45am Feb 21, 2011 5:45am
Quoting Dr.Geppynius
just waiting for eur to break 3700 and enter on a successful test. if i do not get it, i do not trade today. shorts are too risky to me above 3640.
There is nd on 15 min right now for couple of pips. Won't you take it?
  • #13,575
  • Feb 21, 2011 5:46am Feb 21, 2011 5:46am
about 5 hours left until market will slow down, since the cme globex where the currency futures are traded is halted.

Monday, Feb 21
1030 CT – Trading halt
Order entry, modification and cancellation allowed
1700 CT – Halted products resume trading
  • #13,576
  • Feb 21, 2011 5:47am Feb 21, 2011 5:47am
Hello

Move above that green line(1.3705) and test from above would be grate

Maybe also an test on that black marked line from above ...1.3692

That 5 min bar is the biggest till now!


Guys i might did stupd trade but it turned to be good..

I expected area 1.3640 to load some longs and coos of that i am all morning bearish short term just...till that 1.3640

So i took that short on no demand

You can see that highest volume widest 5 min bar...
4 bars after we had an no demand..TG did not picked it up(the bar after that test wich TG picked up)

I got in and got out after 20 pips

That was probably stupid and risky but please tell me would you also take that trade?!

Or that is just me .."expert" did..lol

Bye
Attached Image (click to enlarge)
Click to Enlarge Name: move.jpg Size: 183 KB
Work smart not hard
  • #13,577
  • Feb 21, 2011 5:51am Feb 21, 2011 5:51am
see the flag chart with the clear channel i posted. we are in the middle of the channel which is nomansland, i do not take trades there.

Quoting 1pipperhour
There is nd on 15 min right now for couple of pips. Won't you take it?
  • #13,578
  • Feb 21, 2011 5:53am Feb 21, 2011 5:53am
Sony,

If I was at the computer at that time, I could probably have took it, it's almost perfect short entry for me. Since our bias still remains bullish, so a short scalp is no problem as long as the nice set up is there
  • #13,579
  • Feb 21, 2011 5:55am Feb 21, 2011 5:55am
Yeap..ok thanks
Work smart not hard
  • #13,580
  • Feb 21, 2011 5:59am Feb 21, 2011 5:59am
Quoting Dr.Geppynius
see the flag chart with the clear channel i posted. we are in the middle of the channel which is nomansland, i do not take trades there.
Yes, I saw that. Ok. I took it. Still having bad scalping habits. Those 100 pip moves are so rare and waiting them bores me to death
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