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vsa with Malcolm

  • #14,841
  • Mar 3, 2011 6:03pm Mar 3, 2011 6:03pm
Quoting malcolmb14
Help me ... I sold this stochastic cross down and now I lost money ... or was it a break even trade .. what happened .. how did I lose all my account ?

Attachment
Let me do an analysis on this for a few days.lol
  • #14,842
  • Mar 3, 2011 6:05pm Mar 3, 2011 6:05pm
lol.....I thought as much .. deleted the candles all together. who needs to see price anyway ...macd rocks and will help me lose money faster than anything

Quoting pres78
There was too much divergence in your convergence and WAYYYY too much of your candlesticks are showing.
Blogging daily now at www.volume.zone
  • #14,843
  • Mar 3, 2011 6:06pm Mar 3, 2011 6:06pm
Quoting malcolmb14
this happened last time i took it on the track

http://www.youtube.com/watch?v=QQh56geU0X8
Ha, i was looking for a Mr.Bean video but that'll do!
  • #14,844
  • Mar 3, 2011 6:08pm Mar 3, 2011 6:08pm
Quoting KinsaleForex
Ha, i was looking for a Mr.Bean video but that'll do!
LOL exactly my thinking too
  • #14,845
  • Mar 3, 2011 6:10pm Mar 3, 2011 6:10pm
Didn't even realize it when I started eyeing the 3840-3830 level on Wednesday for a long trade set-up today that it was also the zone containing last weeks high...
Today's zone = Tomorrow's opportunity!
  • #14,846
  • Mar 3, 2011 6:19pm Mar 3, 2011 6:19pm
Quoting pres78
Didn't even realize it when I started eyeing the 3840-3830 level on Wednesday for a long trade set-up today that it was also the zone containing last weeks high...
Always a good idea to watch the roll over levels pres.

Daily, weekly, monthly.

Where a lot of people muck n such with pivot points, roll overs are a little better for finding true S/R. You guys call em supply and demands but all the same.

Hidden Gap does an awesome job of watching and charting the trading ranges, and chart fill zones. Watching who does what, what areas are traded during which sessions will also help to find these levels.

Chart 1, One that I posted in EU thread for the Support zone.
Chart 2, After the rocket launched.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: sr.jpg Size: 77 KB
Click to Enlarge Name: hg.jpg Size: 92 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #14,847
  • Mar 3, 2011 6:20pm Mar 3, 2011 6:20pm
Quoting malcolmb14
High volume up bars are not always selling .... they can be mark up bars when they take out major levels of resistance , which is what eu did today. You need volume to do that break out . Thing to watch for here is LOW volume testing of 1.3920 area
I think everyone new to vsa or trying to learn the concept should print out a Eurusd hourly, 15m, and 5 min chart of today price action and stick it on there wall. Mals statement here is very powerful and is often misunderstood by many new to vsa.

Now I am not saying with certainty that this move today on the Eur is going to be all buying since like Mal has mentioned we need to see some testing or a NS in a key area for confirmation. I am saying that with the trend in our favor, clear accumulation in the background and support below, the probability of this moving north of 4000 without a significant pull back is high; making today a great example of ultra-high volume up bars not being selling.
  • #14,848
  • Mar 3, 2011 6:27pm Mar 3, 2011 6:27pm
Quoting Magix
Always a good idea to watch the roll over levels pres.

Daily, weekly, monthly.

Where a lot of people muck n such with pivot points, roll overs are a little better for finding true S/R. You guys call em supply and demands but all the same.

Hidden Gap does an awesome job of watching and charting the trading ranges, and chart fill zones. Watching who does what, what areas are traded during which sessions will also help to find these levels.

Chart 1, One that I posted in EU thread for the Support zone.
Chart 2, After the rocket launched.
Yes and I had all kinds of reasons for taking a set up off the 3830-3840 zone, 38.2 fib retrace of Wednesday H/L, DPP, several days POC's within this general area and if I had noticed last weeks high sitting in there too it would have just given me another level of confirmation... Gotta ask at the risk of sounding dumb but what is daily roll?

Oh and yes I do watch daily, weekly and monthly pivots, support and resistance when planning trades. Also I like to watch for the zones and triggers as pointed out here is some charts by HG...
Today's zone = Tomorrow's opportunity!
  • #14,849
  • Edited 6:52pm Mar 3, 2011 6:32pm | Edited 6:52pm
Quoting malcolmb14
this happened last time i took it on the track

http://www.youtube.com/watch?v=QQh56geU0X8
OMG, that is too funny!!!! I'd known nothing about that car - what a disaster in every sense of the word, but damn entertaining I suppose!!

I've ridden and driven Wartburgs and Yugos - they seem like hotrods compared to this death trap!!! There's a comparison of German & British engineering for ya! This is now in my youtube favourites!!! Makes the Pinto seem like a luxury and privileged vehicle too, doesn't it, lol!! (Unfortunately, nothing nearly that entertaining on youtube re the Wartburg)
  • #14,850
  • Mar 3, 2011 6:40pm Mar 3, 2011 6:40pm
Quoting pres78
Gotta ask at the risk of sounding dumb but what is daily roll?
Not a dumb question at all...One I failed to ask, one I failed to observe, now that I do, am appreciative of finding out this little nugget of info.

Daily roll over is true beginning and end of the daily candles.

Mark your chart at NY close, this is the beginning of a new day.

You can watch how well this area will act as support and resistance, much the same way as when we approach this level on the Weekly opens or the Monthly opens.

As most brokers use their own times for daily candles, these can be a lot deceiving, much the same as a lot of brokers open and close their weeks at different times, this can make H4 candles can be a bit of a miss tell as well. The observation of the market day can prove to be a little better tell of the tale for the day.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #14,851
  • Mar 3, 2011 6:49pm Mar 3, 2011 6:49pm
M30 chart with Daily roll over...

And without price candles.

And with MACD superimposed on chart.

Funny, Mal mentioned earlier to remove price candles from chart...funny as it may be, I do this exact thing as a point of reference....

Anyways, the purple line is the daily roll over...following the flow of the day is how some of us trade off the shorter time frames and find support for the longer trends.

Attached Image (click to enlarge)
Click to Enlarge Name: dr.jpg Size: 58 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #14,852
  • Mar 3, 2011 6:49pm Mar 3, 2011 6:49pm
Quoting Magix
Not a dumb question at all...One I failed to ask, one I failed to observe, now that I do, am appreciative of finding out this little nugget of info.

Daily roll over is true beginning and end of the daily candles.

Mark your chart at NY close, this is the beginning of a new day.

You can watch how well this area will act as support and resistance, much the same way as when we approach this level on the Weekly opens or the Monthly opens.

As most brokers use their own times for daily candles, these can be a lot deceiving, much the same as...
The previous day's close is a tremendous support I find (and also why I suggested 1.389 as solid support.) That's why I use the Tigertron Pivots - it's what populates many of my charts (and elicits silly complaints like "too many lines, Bel!") but it plots closes and highs among other relevant things. You can turn off various lines/fibs/supports if you choose, but the most important part is it can deal with differing MT4 server times/clocks, and through the offset give you exact values, ie., matching those on actionforex.com, among others. (Just match up the offset time against GMT and validate by when you know it's 5pm in NY) Magix is absolutely right - there is tremendous bounce "power" in the previous day's high.
  • #14,853
  • Mar 3, 2011 7:01pm Mar 3, 2011 7:01pm
i think that may not be the case when we talk about forex. orders are coming on a continuing basis, from monday/new zealand until friday/new york.

talking about a daily timeframe in forex is only for orientation purposes; in fact weekly is the smallest timeframe that is suited for classical technical analysis - while intra-week, analysis should be done relative to each major session - asia, london and ny.
daily becomes important only when considered as a complete cycle of 3 sessions - and more quantitatively (volumes) than qualitatively (price action).

Quoting Magix
Not a dumb question at all...One I failed to ask, one I failed to observe, now that I do, am appreciative of finding out this little nugget of info.

Daily roll over is true beginning and end of the daily candles.

Mark your chart at NY close, this is the beginning of a new day.

You can watch how well this area will act as support and resistance, much the same way as when we approach this level on the Weekly opens or the Monthly opens.

As most brokers use their own times for daily candles, these can be a lot deceiving, much the same as a lot of...
Nihil Sine Deo.
  • #14,854
  • Mar 3, 2011 7:06pm Mar 3, 2011 7:06pm
sorry for barging in like this - the other important levels of the day are tokyo and london close, don't underestimate them!
i have one exercise for you - start marking london close levels on your chart and compare them to ny close; see which one seems more relevant for price action

Quoting Beljevina
The previous day's close is a tremendous support I find (and also why I suggested 1.389 as solid support.) That's why I use the Tigertron Pivots - it's what populates many of my charts (and elicits silly complaints like "too many lines, Bel!") but it plots closes and highs among other relevant things. You can turn off various lines/fibs/supports if you choose, but the most important part is it can deal with differing MT4 server times/clocks, and through the offset give you exact...
Nihil Sine Deo.
  • #14,855
  • Mar 3, 2011 7:07pm Mar 3, 2011 7:07pm
Quoting Scrat
i think that may not be the case when we talk about forex. orders are coming on a continuing basis, from monday/new zealand until friday/new york.

talking about a daily timeframe in forex is only for orientation purposes; in fact weekly is the smallest timeframe that is suited for classical technical analysis - while intra-week, analysis should be done relative to each major session - asia, london and ny.
daily becomes important only when considered as a complete cycle of 3 sessions - and more quantitatively (volumes) than qualitatively (price...
You either observe it or you don't...there really is nothing to think about.

IF you plot it, you will see the value of this line. If price drops below, will test it as resistance, if price moves above, will come back to test as support.

I analyze charts down to the 1m and can work direction off of that fairly easily and readily for scalps and longer term trades off the 5 and 15m support levels. Whether you believe something or not, really is of no importance...what happens, happens.

Go back and have a look through the charts that I post...support is support, resistance is resistance, and you will find the daily roll in there my friend.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #14,856
  • Mar 3, 2011 7:10pm Mar 3, 2011 7:10pm
nice... but it's like driving a car at night with your sunglasses on... after you put a thick layer of red paint on them.

Quoting Magix
M30 chart with Daily roll over...

And without price candles.

And with MACD superimposed on chart.

Funny, Mal mentioned earlier to remove price candles from chart...funny as it may be, I do this exact thing as a point of reference....

Anyways, the purple line is the daily roll over...following the flow of the day is how some of us trade off the shorter time frames and find support for the longer trends.

Nihil Sine Deo.
  • #14,857
  • Mar 3, 2011 7:15pm Mar 3, 2011 7:15pm
i am not arguing with you.
my thoughts are based on my own observations, and regarding this "daily close" issue i can tell you that i have been drawing and comparing charts manually using different starting hours, well, for years. the same thing can be said about london close... and about tokyo close. it's there, alright. and you said it, not me - you either observe it, or you don't.
keep an open mind, that's all i'm saying. there's more than one way to skin a cat - ny close IS relevant, but so is tokyo close and london close.

Quoting Magix
You either observe it or you don't...there really is nothing to think about.

IF you plot it, you will see the value of this line....
Nihil Sine Deo.
  • #14,858
  • Mar 3, 2011 7:21pm Mar 3, 2011 7:21pm
Quoting Scrat
i think that may not be the case when we talk about forex. orders are coming on a continuing basis, from monday/new zealand until friday/new york.

talking about a daily timeframe in forex is only for orientation purposes; in fact weekly is the smallest timeframe that is suited for classical technical analysis - while intra-week, analysis should be done relative to each major session - asia, london and ny.
daily becomes important only when considered as a complete cycle of 3 sessions - and more quantitatively (volumes) than qualitatively (price...
I would love to explore this ... assume I might be lazy (not far from the truth, lol!) is there an MT4 indi that will plot these for me? (I suppose I could bastardize an existing MT4 indi with GMT offset settings, to the right London & Tokyo time ... and heck, what are they in NY time? 11:30am NY for London? Not sure what Tokyo would be?!!)
  • #14,859
  • Mar 3, 2011 7:28pm Mar 3, 2011 7:28pm
yes in fact i've got one on my home computer, send a pm to remind me about posting it.

Quoting Beljevina
I would love to explore this ... assume I might be lazy (not far from the truth, lol!) is there an MT4 indi that will plot these for me? (I suppose I could bastardize an existing MT4 indi with GMT offset settings, to the right London & Tokyo time ... and heck, what are they in NY time? 11:30am NY for London? Not sure what Tokyo would be?!!)
Nihil Sine Deo.
  • #14,860
  • Mar 3, 2011 7:46pm Mar 3, 2011 7:46pm
Quoting Scrat
i am not arguing with you.
my thoughts are based on my own observations, and regarding this "daily close" issue i can tell you that i have been drawing and comparing charts manually using different starting hours, well, for years. the same thing can be said about london close... and about tokyo close. it's there, alright. and you said it, not me - you either observe it, or you don't.
keep an open mind, that's all i'm saying. there's more than one way to skin a cat - ny close IS relevant, but so is tokyo close and london close.
I wasn't trying to argue with you either my man...

I do analyze things on all levels and while most are wondering what just happened, guys like me are cashing out.

I ain't saying what is going to happen, but look at the events leading up to today. Take your weekly chart and draw the utl from the last 3 spikes...find some time to figure out the ABC patterns of market...

And now...analyze your volume and the price jump today.

With all of that in consideration...maybe Bel, or brother Mal, or HG can explain the significance of having daily roll being the almost pinnacle of the top of todays open chart.

I am not trying to tell anybody how to trade, or brag about my trades, and really, not out to argue or insult you here...There have been several tools passed along down to me and I choose to take my time and share them with others.

Sorry if I offended or came across as a little brazen, all the best into NFP and close of the week.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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