vsa with Malcolm

Quoting willkohsg

Disliked

Pre-London Open and we saw price moved down to beyond 1.3800 for a shakeout, went to as low as 1.3785

price had 2 high volume wide spread down candles during pre-london and
we saw a reversal up bar on lower volume just before london open.

right now to enter long we should belooking for a test,
a red candle in london session with no supply/low volume
for long entry

could the more experienced VSA traders comment on whether this setup is correct or not ? thanks a lot it will help me learn

Ignored

Quoting Alexone

Disliked

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.

Ignored

Quoting pres78

Disliked

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...

Ignored

Quoting rbumbalough

Disliked

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.
************************************

Ignored

Quoting pres78

Disliked

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...

Ignored

Quoting rbumbalough

Disliked

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. http://www.forexfactory.com/attachme...1&d=1298984345
************************************

Ignored

Quoting pete148

Disliked

Hey Pres,

liked your thoughts on your stop placement with your trade. I got stopped out.

I went in with a 21 pip stop, I entered at at 3826 ish. I thought that that they would try a shakeout first. But the the entry i noted on the chart was alot better.

My entry was a bit poor, and with a 20 pip stop your entry has to be good.

http://i865.photobucket.com/albums/a...146/29feb1.jpg

good luck with your trade was a very good setup.

Ignored

Quoting pres78

Disliked

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...

Ignored

Quoting pres78

Disliked

After coming back down to within 11 pips of my SL it has started to head back up... TP 1 hit (for 1:1), let's see if we get back to 3850...

Ignored

Quoting pete148

Disliked

Think yull have to give it some room, but i like this impulsive move up

Ignored

Quoting pres78

Disliked

SL is still in position... For a smaller move like this where I am only targetting max 35 pips I will keep my SL where it is... I won't move a SL to BE on lot 2 until I get to at least 50+ in profit. Worse case now on this trade is my SL gets hit and I walk away even on the trade.

Ignored

Quoting 1pipperhour

Disliked

Aren't you afraid that it could easily turn into a losing trade?

Ignored

Quoting pres78

Disliked

After coming back down to within 11 pips of my SL it has started to head back up... TP 1 hit (for 1:1), let's see if we get back to 3850...

Ignored

Quoting Sonofsin5

Disliked

Ucad finally looks like it may want to move north. Will post a chart in a bit.

Ignored

Quoting pres78

Disliked

Nope because lot 1 was closed for 1:1 profit so even if lot 2 hits the SL I walk away even as though I never traded. I have been burned too many times in the past moving to BE too soon only to get stopped out right before price continues onto my target.

Ignored