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vsa with Malcolm

  • #13,641
  • Feb 21, 2011 4:24pm Feb 21, 2011 4:24pm
is this gonna be a shake out session
  • #13,642
  • Feb 21, 2011 4:47pm Feb 21, 2011 4:47pm
Quoting mrWolf
is this gonna be a shake out session
Get this man a prize.

I like the looks of this. Dont let this move intimidate you, we had a very slow session today. Asia is now picking up the slack.
  • #13,643
  • Edited 6:32pm Feb 21, 2011 5:13pm | Edited 6:32pm
a) Stopping volume
b) Shake out
c) NS- confirms shakeout
d) Confirms shakeout
e) Up bar on increasing volume is bullish
f) ND entry bar

As I'm posting this I got filled so let's see, how it goes, my stop is below the low.
Attached Image (click to enlarge)
Click to Enlarge Name: f21c.jpg Size: 136 KB
  • #13,644
  • Feb 21, 2011 5:17pm Feb 21, 2011 5:17pm
Quoting frankkn
a) Stopping volume
b) Shake out
c) ND - confirms shakeout
d) Confirms shakeout
e) Up bar on increasing volume is bullish
f) ND entry bar

As I'm posting this I got filled so let's see, how it goes, my stop is below the low.
And promptly stoppped
  • #13,645
  • Feb 21, 2011 5:22pm Feb 21, 2011 5:22pm
Quoting frankkn
a) Stopping volume
b) Shake out
c) ND - confirms shakeout
d) Confirms shakeout
e) Up bar on increasing volume is bullish
f) ND entry bar

As I'm posting this I got filled so let's see, how it goes, my stop is below the low.
Too much weakness in the background for me ATM... I hate these early Asain moves as one never knows what to trust.
Today's zone = Tomorrow's opportunity!
  • #13,646
  • Feb 21, 2011 5:29pm Feb 21, 2011 5:29pm
Quoting frankkn
a) Stopping volume
b) Shake out
c) ND - confirms shakeout
d) Confirms shakeout
e) Up bar on increasing volume is bullish
f) ND entry bar

As I'm posting this I got filled so let's see, how it goes, my stop is below the low.
funny thing i saw the same setup before opening the thread and made the same trade as u did,i knew it was a low probability trade couse thats the way they do it usualy when u think this is a bottom they pull it down once or twice again,now im thinking the best way to do this is to wait for the base to form ,let the price drift up then come down and enter on no demand or a test that gets confirmed
  • #13,647
  • Feb 21, 2011 5:30pm Feb 21, 2011 5:30pm
Took this quick short for net 18 pips after spread off the ND/Test off the 1hr trigger level from Friday... weakness in the background ATM. Still looking for a long set-up for some more upside movement later today around LO.

Later in the day I would switch to 15min and watch for PA to react around PAL to get out of second and third lots... this early though it's just a quick in and out with one lot.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 23 KB
Today's zone = Tomorrow's opportunity!
  • #13,648
  • Feb 21, 2011 5:34pm Feb 21, 2011 5:34pm
Quoting pres78
Took this quick short for net 18 pips after spread off the ND/Test off the 1hr trigger level from Friday... weakness in the background ATM. Still looking for a long set-up for some more upside movement later today around LO.

Later in the day I would switch to 15min and watch for PA to react around PAL to get out of second and third lots... this early though it's just a quick in and out with one lot.
if this doesnt form a base around 1.3600,then i wouldnt be suprised to see fall to 1.3550
  • #13,649
  • Feb 21, 2011 5:35pm Feb 21, 2011 5:35pm
Quoting pres78
Took this quick short for net 18 pips after spread off the ND/Test off the 1hr trigger level from Friday... weakness in the background ATM. Still looking for a long set-up for some more upside movement later today around LO.

Later in the day I would switch to 15min and watch for PA to react around PAL to get out of second and third lots... this early though it's just a quick in and out with one lot.
that was a good setup u saw there much better then mine,i was more like betting.i hate to do that- bet on the price
  • #13,650
  • Feb 21, 2011 5:36pm Feb 21, 2011 5:36pm
Quoting mrWolf
if this doesnt form a base around 1.3600,then i wouldnt be suprised to see fall to 1.3550
All of the 15min bars have been closing of their lows... buyers or absorbtion of demand.... or is it just one of those false Asian break outs. Off to bed and will get back up at 3AM to see where we stand 1hr before LO.
Today's zone = Tomorrow's opportunity!
  • #13,651
  • Feb 21, 2011 5:47pm Feb 21, 2011 5:47pm
Quoting pres78
Took this quick short for net 18 pips after spread off the ND/Test off the 1hr trigger level from Friday... weakness in the background ATM. Still looking for a long set-up for some more upside movement later today around LO.

Later in the day I would switch to 15min and watch for PA to react around PAL to get out of second and third lots... this early though it's just a quick in and out with one lot.
Looks like I got out too early... It really sucks when Asia has already moved the pair over 50% of the ATR... doesnt leave much for LO and US other than to bring it back up... or a 200+ pip day.
Today's zone = Tomorrow's opportunity!
  • #13,652
  • Feb 21, 2011 6:00pm Feb 21, 2011 6:00pm
Quoting frankkn
a) Stopping volume
b) Shake out
c) ND - confirms shakeout
d) Confirms shakeout
e) Up bar on increasing volume is bullish
f) ND entry bar

As I'm posting this I got filled so let's see, how it goes, my stop is below the low.
sry, but why your ND is a down bar?

i m a little confused here
  • #13,653
  • Feb 21, 2011 6:03pm Feb 21, 2011 6:03pm
Quoting mrWolf
funny thin.. then come down and enter on no demand or a test that gets confirmed
make that no supply

currencies like eur affected by New Zealand earthquake, among others
i got my remaining positions stopped out during the drop & my sleep

Quoting B4iFUrU18
sry, but why your ND is a down bar?
i m a little confused here
must be a typo.
must've meant no supply..
  • #13,654
  • Feb 21, 2011 6:09pm Feb 21, 2011 6:09pm
Daily E/U is NS bar. So this is definitely shake out, may be some news coming tomorrow and SM's are accumulating.
  • #13,655
  • Feb 21, 2011 6:12pm Feb 21, 2011 6:12pm
yes, but if frank meant a NS, the set up is invalid and he shouldn t have taken this trade..

frank, some precisions plz!!!!
  • #13,656
  • Feb 21, 2011 6:19pm Feb 21, 2011 6:19pm
Quoting skyscraper
daily E/U is NS bar. So this is definitely shake out, may be some news coming tomorrow and SM's are accumulating
-Libya news few hours ago
-US holiday
-today, news of N.Zealand earthquake, possibly Middle east news updates, among others
-the FF calendar shows plenty of news til Friday


Quoting B4iFUrU18
yes, but if frank meant a NS, the set up is invalid and he shouldnt have taken this trade..
...
yeah, for sure frank will clarify
i believe he went long & he's way beyond the basics now, though.. so he can trade 'his' way (aggressive/conservative)
  • #13,657
  • Feb 21, 2011 6:26pm Feb 21, 2011 6:26pm
Quoting supremeChaos
must be a typo.
must've meant no supply..
Yep typo sorry

Quote
yes, but if frank meant a NS, the set up is invalid and he shouldn t have taken this trade..

frank, some precisions plz!!!!

The trade may have been aggressive but I had other supporting factors like Friday's virgin POC behind me. Don't get me wrong, I was definitely wrong about the trade but I was okay with the risk.
  • #13,658
  • Feb 21, 2011 6:29pm Feb 21, 2011 6:29pm
Quoting supremeChaos
make that no supply

currencies like eur affected by New Zealand earthquake, among others
i got my remaining positions stopped out during the drop & my sleep


must be a typo.
must've meant no supply..
yes-make that no supply
  • #13,659
  • Feb 21, 2011 6:31pm Feb 21, 2011 6:31pm
Quote
Friday's virgin POC

I posted this in another thread, but wanted to show what I meant. This is a15m Euro futures with a daily volume histogram. If you look to the left of where price was at the time of this screen shot you can see the reddish line is Friday's volume POC which is the price that saw the most trading and when these levels go without being tested they can give some really nice bounces (most of the time lol), so that's what made me feel more comfortable about that setup.
http://www.forexfactory.com/attachme...0&d=1298337368
  • #13,660
  • Feb 21, 2011 6:32pm Feb 21, 2011 6:32pm
Quoting frankkn
a) Stopping volume
b) Shake out
c) ND - confirms shakeout
d) Confirms shakeout
e) Up bar on increasing volume is bullish
f) ND entry bar
As I'm posting this I got filled so let's see, how it goes, my stop is below the low.
reviewing the chart now..
'e' had a lot of volume, narrow spread... so that must be supply
'c' & 'f' had above average vol. so there must be buyers in them.. not necessarily the typical NS

i knew u had other things in mind here..
excellent chart, thanks frank!
Quoting frankkn
The trade may have been aggressive but I had other supporting factors like Friday's virgin POC behind me..
looks like it's not a VPOC anymore
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