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vsa with Malcolm

  • #14,441
  • Mar 1, 2011 4:01am Mar 1, 2011 4:01am
Quoting willkohsg
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
Hi Willkohsg

See my previous reply, I've edited it. I think you were right and I was wrong - lack of coffee this morning! However the 5 minute you mention above I don't agree the volume is less than the previous 2 bars, see chart below.
Attached Image (click to enlarge)
Click to Enlarge Name: eur 5m.jpg Size: 168 KB
Blogging daily now at www.volume.zone
  • #14,442
  • Mar 1, 2011 4:08am Mar 1, 2011 4:08am
Quoting Steve Gill
Hi Willkohsg

See my previous reply, I've edited it. I think you were right and I was wrong - lack of coffee this morning! However the 5 minute you mention above I don't agree the volume is less than the previous 2 bars, see chart below.
thanks for ur quick reply Steve
ok so i'll be watching 1.3840 levels for a safe long.

i think my broker give me different volume feed from ur charts,
but my difference was very little in terms of volume

1st bar 73
2nd bar 106
3rd bar 72

so i guess the M15 chart will serve as a better guide for NS to enter long on
break of NS.

Thanks again
  • #14,443
  • Mar 1, 2011 4:12am Mar 1, 2011 4:12am
[quote=Flynchenberg;4437193]
Quoting willkohsg
Hi Seb,
i found this online: scroll to bottom of page
http://www.vsaclub.com/panel.aspx

Thx for that.


no problem, u're welcome. i needed to know too
  • #14,444
  • Mar 1, 2011 4:17am Mar 1, 2011 4:17am
Quoting willkohsg
thanks for ur quick reply Steve
ok so i'll be watching 1.3840 levels for a safe long.

i think my broker give me different volume feed from ur charts,
but my difference was very little in terms of volume

1st bar 73
2nd bar 106
3rd bar 72
If I can give my two cents here - In my opinion the difference between the first and third bar is far too minor to actually be considered a proper no supply. As Steve posted, the esignal charts paint it as having much higher volume. So when taking a ns or nd i'd make sure there is a considerable drop off in volume on the bar in question.

Cheers,

Liam
  • #14,445
  • Mar 1, 2011 4:24am Mar 1, 2011 4:24am
Quoting KinsaleForex
If I can give my two cents here - In my opinion the difference between the first and third bar is far too minor to actually be considered a proper no supply. As Steve posted, the esignal charts paint it as having much higher volume. So when taking a ns or nd i'd make sure there is a considerable drop off in volume on the bar in question.

Cheers,

Liam
Hi Liam,
thanks for ur advice, will bear in mind that the volume needs to be considerable or have a sharper contrast to be considered a NS

thanks again
  • #14,446
  • Mar 1, 2011 4:45am Mar 1, 2011 4:45am
Quoting willkohsg
Hi Liam,
thanks for ur advice, will bear in mind that the volume needs to be considerable or have a sharper contrast to be considered a NS

thanks again
If you understood the principle behind NS, you wouldn't be asking this question. I suggest you focus on the underlying action rather than on individual bars and precise definitions.
  • #14,447
  • Mar 1, 2011 5:07am Mar 1, 2011 5:07am
Quoting Mr J
If you understood the principle behind NS, you wouldn't be asking this question. I suggest you focus on the underlying action rather than on individual bars and precise definitions.
Hi Mr J,
thanks for pointing that out,
will take ur advice and focus on the big picture in the charts,
though it doesnt hurt to ask some newbie questions i guess,
will read through MTM before i start asking again
  • #14,448
  • Mar 1, 2011 5:08am Mar 1, 2011 5:08am
Quoting Mr J
If you understood the principle behind NS, you wouldn't be asking this question.
I know what it was like getting into VSA and focussing too much on individual bars, so I totally agree with you but empathise with willkohsg's position.

Quoting Mr J
I suggest you focus on the underlying action rather than on individual bars and precise definitions.
Willkohsg - the best way to do this is to look left on the chart;
- in the time frame you're interested in (e.g. 15 mins - is their weakness or strength in the background, is the price at a good point to trade (sometimes its better to wait), and
- in higher time frames as well, looking for strength or weakness both immediately and in the past/left on the chart. See this post for an example of that.

Reading and re-reading Master the Markets by Tom Williams until you know it off by heart better than Gaddafi knows his little green book is recommended as well
Blogging daily now at www.volume.zone
  • #14,449
  • Mar 1, 2011 5:09am Mar 1, 2011 5:09am
Quoting willkohsg
Hi Mr J,
thanks for pointing that out,
will take ur advice and focus on the big picture in the charts,
though it doesnt hurt to ask some newbie questions i guess,
will read through MTM before i start asking again
No, keep asking. This thread isn't solely designed for those already proficient in VSA. I'm learning as much from the newb questions as I am from studying it myself.
  • #14,450
  • Edited 6:23am Mar 1, 2011 6:11am | Edited 6:23am
Hey guys

Cant post a chert atm. But eu looks a good long atm. Ns bar with decent backgroung strenght today. And some strong 30m bars.

What you guys think?

Might be a shakeout first
  • #14,451
  • Mar 1, 2011 6:24am Mar 1, 2011 6:24am
Quoting rbumbalough
The 6E 60M charts shows a bullish pennant setting up for an upside breakout. This then means there will be many stops below the market. Consequently the big bank traders will be gunning for easy money by fostering a shakeout/reverse upthrust prior to a 6-8 hour effort to move up to 1.3870 to trigger bullish trader's buy stops before stepping rate down back into range 1.3850-1.3800 for tomorrow's Asian consolidation range where a new bunch of stops will be placed.
And the result was a reverse up thrust to elect the stops of those getting long in last nights Asian session to exploit the pennant pattern.

Best Wishes for Your Continued Success
***********************
Attached Image (click to enlarge)
Click to Enlarge Name: 6EH1_60M_030111.PNG Size: 65 KB
  • #14,452
  • Mar 1, 2011 6:27am Mar 1, 2011 6:27am
Quoting rbumbalough
And the result was a reverse up thrust to elect the stops of those getting long in last nights Asian session to exploit the pennant pattern.

Best Wishes for Your Continued Success
***********************
I'm not sure about your no demand bar on your chart - I would see that more as limited supply coming in at that price level. Not massive supply, but supply nonetheless.
Blogging daily now at www.volume.zone
  • #14,453
  • Mar 1, 2011 6:27am Mar 1, 2011 6:27am
Quoting Steve Gill
I know what it was like getting into VSA and focussing too much on individual bars, so I totally agree with you but empathise with willkohsg's position.....

Reading and re-reading Master the Markets by Tom Williams until you know it off by heart better than Gaddafi knows his little green book is recommended as well
thanks Steve for looking out for newbies like me,will look into the areas for entry right now for long.. still quite a bit of strength in the background.. but to me EU seems to be in the "absorbing supply mode" at the moment.. need to see the 1.3800 levels hold or maybe it's a test of today's swing lows..

Quoting ukdaytrader
No, keep asking. This thread isn't solely designed for those already proficient in VSA. I'm learning as much from the newb questions as I am from studying it myself.
Yes sir, will keep doing that sir tks for encouragement

Quoting pete148
Hey guys What you guys think?
Hi pete148, i dont have the answer for u.. but something steve gill mentioned sounds about right..

here better read Steve's post here instead so i dont get u all confused
http://www.forexfactory.com/showpost...ostcount=14450
  • #14,454
  • Mar 1, 2011 6:50am Mar 1, 2011 6:50am
Quoting Sonofsin5
It will show its hand soon enough. Its just seems like it has absolutely no desire to move up.
Perhaps the upcoming rate decision will give it a direction/wake it up a bit. The last 15 hours or so have brought a new meaning to "sideways" movement!
  • #14,455
  • Mar 1, 2011 6:58am Mar 1, 2011 6:58am
Didn't take the long trade that presented itself around 35mins after LO as NS simply because my entry was at 3820 and the swing low for my stop at the shake out would have been at 3785... This is a 35 pip stop loss and with that tough 3850 level less than that away I felt it was not worth the risk ATM. I have just entered a long trade off the 5min NS marked after 2 upbars after a bounce around that 3800 level followed by the NS. Entry at 3815 and putting tight SL at 3795. TP 1 at 3835 and TP 2 at 3850.

Risky entry however as I am still below the PAL...
Attached Image
Today's zone = Tomorrow's opportunity!
  • #14,456
  • Mar 1, 2011 6:59am Mar 1, 2011 6:59am
Quoting Steve Gill
I'm not sure about your no demand bar on your chart - I would see that more as limited supply coming in at that price level. Not massive supply, but supply nonetheless.
Hello Steve: thank you for your comment. Indeed you are right. The bar in question is better labelled as Supply Coming In. This is seen in the corrected chart where up tick volume is in red and down tick volume is in green. Supply comes in on up ticks; demand-buying happens on down ticks. Thanks for pointing that out.
************************************
Attached Image (click to enlarge)
Click to Enlarge Name: 6EH1_60M_030111_corrected.PNG Size: 66 KB
  • #14,457
  • Mar 1, 2011 7:08am Mar 1, 2011 7:08am
Hi could u be so kind to post the Better Volume Indy for me I don't have it...

Quoting pres78
Didn't take the long trade that presented itself around 35mins after LO as NS simply because my entry was at 3820 and the swing low for my stop at the shake out would have been at 3785... This is a 35 pip stop loss and with that tough 3850 level less than that away I felt it was not worth the risk ATM. I have just entered a long trade off the 5min NS marked after 2 upbars after a bounce around that 3800 level followed by the NS. Entry at 3815 and putting tight SL at 3795. TP 1 at 3835 and TP 2 at 3850.

Risky entry however as I am still below the...
  • #14,458
  • Mar 1, 2011 7:12am Mar 1, 2011 7:12am
Quoting soeasy69
Hi could u be so kind to post the Better Volume Indy for me I don't have it...
Top right corner hit the paper clip and then once the attachment window opens hit hide images... scroll through the indies and you will find many different versions of this indi...
Today's zone = Tomorrow's opportunity!
  • #14,459
  • Mar 1, 2011 7:14am Mar 1, 2011 7:14am
Quoting pres78
Didn't take the long trade that presented itself around 35mins after LO as NS simply because my entry was at 3820 and the swing low for my stop at the shake out would have been at 3785... This is a 35 pip stop loss and with that tough 3850 level less than that away I felt it was not worth the risk ATM. I have just entered a long trade off the 5min NS marked after 2 upbars after a bounce around that 3800 level followed by the NS. Entry at 3815 and putting tight SL at 3795. TP 1 at 3835 and TP 2 at 3850.

Risky entry however as I am still below the...
Another NS bar (even lower volume than my trigger bar) just printed on the 5min charts.
Today's zone = Tomorrow's opportunity!
  • #14,460
  • Mar 1, 2011 7:18am Mar 1, 2011 7:18am
Here is the better volume indi. There are more variations but this one is the one that shows at the bottom of ur charts I am pretty sure. I dont use it anymore. Let me know if this is what ur lookinh for
Attached File(s)
File Type: ex4 BetterVolumeTicks.ex4   8 KB | 351 downloads
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