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vsa with Malcolm

  • #14,421
  • Edited 2:35am Mar 1, 2011 2:30am | Edited 2:35am
EU M5 just painted a NS in a rising market.
  • #14,422
  • Mar 1, 2011 2:32am Mar 1, 2011 2:32am
Quoting Intel
EU M5 just painted a test in a rising market.
Hi Intel,
a noob question here, so we mark that test and enter on the break of the high of that test candle for long entries am i right?

Is there any other factors we need to look at before entry?
  • #14,423
  • Mar 1, 2011 2:46am Mar 1, 2011 2:46am
Quoting willkohsg
Hi Intel,
a noob question here, so we mark that test and enter on the break of the high of that test candle for long entries am i right?

Is there any other factors we need to look at before entry?
Firstly, I have edited my post to say its a NS not a test. Sorry for any confusion.

Yes, in an up trend if we see bullish bars followed by a NS or a test, we can find an entry at the break of the high of the NS/test or after the next bar has closed up to confirm the test. The best place for this type of trade is when there is no old high anywhere near so we're into fresh new ground. The tricky part with that trade (I find) is knowing where to put your stop. Some put it at the low of the NS/test (I find this to be too close), some put it at the low of the last wide spread up bar, some put it somewhere in between.

With our particular trade, we have an old minor top to the left and we have some weakness in the previous few bars so we might get a retrace here (as I'm writing this I see it has retraced some....it's easy with hind sight!!!).
  • #14,424
  • Mar 1, 2011 2:52am Mar 1, 2011 2:52am
Quoting Intel
Firstly, I have edited my post to say its a NS not a test....
Hi Intel ,
thanks for sharing ur knowledge
May i ask,

Q:what's the difference between NS and a test?
rather, how can we know if this is a test or a NS?

I have entered long on around 1.3815, stops right under today's swing low of 1.3985 , if price retraces somemore due to news is it advisable to reload at lower levels? guess we'll have to see PA and volume then..
  • #14,425
  • Mar 1, 2011 2:56am Mar 1, 2011 2:56am
EU M30
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  • #14,426
  • Mar 1, 2011 3:00am Mar 1, 2011 3:00am
hope this will be the NS on the 15m
Attached Image (click to enlarge)
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Catching a falling knife, no, I'm just trading the Gartley!
  • #14,427
  • Mar 1, 2011 3:07am Mar 1, 2011 3:07am
Quoting willkohsg
Hi Intel ,
thanks for sharing ur knowledge
May i ask,

Q:what's the difference between NS and a test?
rather, how can we know if this is a test or a NS?

I have entered long on around 1.3815, stops right under today's swing low of 1.3985 , if price retraces somemore due to news is it advisable to reload at lower levels? guess we'll have to see PA and volume then..
Test and NS..... a NS is just that, an indication that there is currently no interest from SM at that lower price level. This might be used by SM just before an up move, to see if there will be any resistance to the said move.

A test is used when SM want to mark the price down to a level where there was once supply and see if(or 'test' whether) there is still supply there.

As for the attributes of these bars, it would be far more beneficial for you to consult MTM.

For a re-entry, you should first decide whether your initial chart reading was correct but you got the timing wrong or, your initial chart reading was wrong. If it was the fromer then yes get back in when an opportunity presents itself.
  • #14,428
  • Mar 1, 2011 3:07am Mar 1, 2011 3:07am
Does anybody else think this is a very weird up move? Maybe im crazy but i dont think it will go up for much longer.
  • #14,429
  • Mar 1, 2011 3:15am Mar 1, 2011 3:15am
Quoting Alexone
Does anybody else think this is a very weird up move? Maybe im crazy but i dont think it will go up for much longer.
Hi Alexone, I am new to VSA,
could u explain why is this upmove strange to u?
many thanks in advance

EDIT: Thanks Intel for explaining in detail about test and NS. I write my thanks here so i dont extend the thread too long
  • #14,430
  • Mar 1, 2011 3:23am Mar 1, 2011 3:23am
Im a noob at VSA too. But yesterday there seemed to be a lot of supply around the 1.3837 level on the eurusd. I just cant understand how all that supply magically vanished during the night. Personally i dont think it did. Also usdchf looks very bullish to me right now. Might be totally wrong however.
  • #14,431
  • Mar 1, 2011 3:23am Mar 1, 2011 3:23am
yeah, Thx Intel for preaching a little for newbies to VSA
I would like to hear what malcolm has to say as well please

Thx again

Seb

  • #14,432
  • Mar 1, 2011 3:30am Mar 1, 2011 3:30am
Quoting Alexone
Im a noob at VSA too. But yesterday there seemed to be a lot of supply around the 1.3837 level on the eurusd. I just cant understand how all that supply magically vanished during the night. Personally i dont think it did. Also usdchf looks very bullish to me right now. Might be totally wrong however.
Hi Alex

It might be easier for myself and other more experienced traders to help you if you post a chart showing what made you come to the conclusion there is/was a lot of supply around 1.3837.

You are working, and I presume making trading decisions, on the assumption that there is still a lot of supply around 1.3837. Its important to determine if you are reading the chart correctly first, hence me asking for you to post one.
Blogging daily now at www.volume.zone
  • #14,433
  • Mar 1, 2011 3:32am Mar 1, 2011 3:32am
Quoting Flynchenberg
yeah, Thx Intel for preaching a little for newbies to VSA
I would like to hear what malcolm has to say as well please

Thx again

Seb


You'll be lucky. He'll be fast asleep right now, dreaming about kicking some german bloke up the aris!
  • #14,434
  • Mar 1, 2011 3:33am Mar 1, 2011 3:33am
Quoting Flynchenberg
.......
Thx again

Seb

Thats a big name in the VSA world. You have a lot to live up to
  • #14,435
  • Mar 1, 2011 3:37am Mar 1, 2011 3:37am
Quoting Intel
Thats a big name in the VSA world. You have a lot to live up to
Ok, newbie stupid question no 2: who is he?
  • #14,436
  • Mar 1, 2011 3:44am Mar 1, 2011 3:44am
Quoting Flynchenberg
Ok, newbie stupid question no 2: who is he?
Hi Seb,
i found this online: scroll to bottom of page
http://www.vsaclub.com/panel.aspx

Sebastian Manby has traded professionally since 1997. Before then he worked for the Accountancy firm Ernst and Whinney.

He trades using Volume Spread Analysis and Wyckoff methodologies to produce consistent profits.
In 2001 Sebastian went to work with Tom Williams to study the methodologies in more detail and to help Tom continue to refine and perfect the principles. Together they traded the CME E-mini S&P. Using VSA they traded consistently successfully.

Currently Sebastian trades using his own trading systems which are based both on Wyckoff and VSA. He is a regular contributor to the Wyckoff SMI forum.



Sebastian Manby
VSA Expert & Trader
  • #14,437
  • Mar 1, 2011 3:49am Mar 1, 2011 3:49am
hi guys,
i spotted another NS on M15 chart for EURUSD,
next candle became a pin bar and moving up.

marked high of NS candle which was 1.3838, so a break of this level will be a safe long ?

feel free to comment thanks.

Note: i went long once price dipped under 1.3825, those are not 100% VSA trades. that's why i have so many lines on my charts.
Attached Image
  • #14,438
  • Edited 3:57am Mar 1, 2011 3:51am | Edited 3:57am
Quoting willkohsg
hi guys,
i spotted another NS on M15 chart for EURUSD,
next candle became a pin bar and moving up.

marked high of NS candle which was 1.3838, so a break of this level will be a safe long ?

feel free to comment thanks.

Note: i went long once price dipped under 1.3825, those are not 100% VSA trades. that's why i have so many lines on my charts.
A no supply should be a down bar with volume less than the previous 2 bars. That's not the case in your example.

Not a clear long setup in my opinion.

Edit: My bad - I forgot my weetabix this morning and evidently can't read. I see that it is less than the previous two bars. Attached my esignal which shows it as well. Sorry!
Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #14,439
  • Mar 1, 2011 3:53am Mar 1, 2011 3:53am
[quote=willkohsg;4437174]Hi Seb,
i found this online: scroll to bottom of page
http://www.vsaclub.com/panel.aspx

Thx for that.


  • #14,440
  • Edited 4:16am Mar 1, 2011 3:57am | Edited 4:16am
Quoting Steve Gill
A no supply should be a down bar with volume less than the previous 2 bars. That's not the case in your example.

Not a clear long setup in my opinion.
Hi Steve Gill,
thanks for pointing that out.
I went to look at M5,
there's one that adheres to what you mentioned.
the last 5 min candle with volume less than the previous 2 bars.

could u comment on this? thanks in advance

EDIT: M5 NS bar did not qualify as the volume bars on Steve's Charts wasnt the same as mine.
and the difference in volume was not too great a contrast to be counted as NS bar.
Attached Image
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