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vsa with Malcolm

  • #15,121
  • Mar 7, 2011 8:14am Mar 7, 2011 8:14am
Quoting pres78
As always thanks for your wonderful insight... so based on that would you see any valid entry on the move up today on EU? The only decent entry I saw was the hidden test that I noted in my chart example. Even though is was a hidden test the fact that we moved away from the high volume bar and came right back down to test it was all I would have need for confirmation.

Really interested in your take and if you saw any tradeable entries on EU today.
Yours was a good setup.
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  • #15,122
  • Mar 7, 2011 8:43am Mar 7, 2011 8:43am
Quoting 1pipperhour
Is anyone looking at GU. Possible long on 10 min. Testing atm right at DPP imo. Will throw a chart if it plays out.
Neh. Didn't happen.
  • #15,123
  • Mar 7, 2011 8:47am Mar 7, 2011 8:47am
weak holder like me already has get in long. hope shakeout is happening

Quoting 1pipperhour
Neh. Didn't happen.
  • #15,124
  • Mar 7, 2011 8:58am Mar 7, 2011 8:58am
Quoting polomine
weak holder like me already has get in long. hope shakeout is happening
Need to watch how S1 is acting. If it holds - good. If not - bad for longs. But the supply seems massive. Hope you didn't open much.
  • #15,125
  • Mar 7, 2011 9:02am Mar 7, 2011 9:02am
Quoting Intel
Yours was a good setup.
Why the hell are you working and not trading full time
  • #15,126
  • Mar 7, 2011 9:02am Mar 7, 2011 9:02am
Quoting polomine
weak holder like me already has get in long. hope shakeout is happening
Highest volume of the day (hourly) on a down bar closing in the middle. Suggests a bit of buying, so we'll see!
  • #15,127
  • Mar 7, 2011 9:06am Mar 7, 2011 9:06am
Quoting 1pipperhour
Why the hell are you working and not trading full time
Not sure of this was to Intel or me... lack of equity and a spouse on maternity leave are two of many reasons... plus I didn't take the trade (it was a set-up I would have taken though) as I slept through LO as the new baby had a rough night
Today's zone = Tomorrow's opportunity!
  • #15,128
  • Mar 7, 2011 9:08am Mar 7, 2011 9:08am
Quoting pres78
Not sure of this was to Intel or me... lack of equity and a spouse on maternity leave are two of many reasons... plus I didn't take the trade (it was a set-up I would have taken though) as I slept through LO as the new baby had a rough night
It was to Intel
  • #15,129
  • Mar 7, 2011 9:09am Mar 7, 2011 9:09am
Quoting 1pipperhour
It was to Intel
Ah sorry then...
Today's zone = Tomorrow's opportunity!
  • #15,130
  • Mar 7, 2011 9:10am Mar 7, 2011 9:10am
EU daily volume looks very high already. Look at the candle. It's so small. Any ideas experienced traders?
  • #15,131
  • Mar 7, 2011 9:17am Mar 7, 2011 9:17am
Quoting Intel
This is purely a timing thing. All tests are on down bars. However, if the bar closes up slightly, it will become a 'hidden test'. It is hidden because it's not a down bar.

If we look at what a test is doing and what reaction we want from a successful test, we can see why a hidden test is also valid. There was low volume during the down move of the bar, then price rose back to the highs. At this point the test is valid but, the bar hasnt completed yet. If SM think the time is right (the test is successful) they will push prices up. In our little...

"Testing" main concept is to "go down fast" to "test the Supply area", then the Close is expected to "Close near/at the High".

Knowing where is the Real "Supply Area" is the actual key.
If you don't know where is the supply area, then almost any bar that looks like a Test bar would be called a Test bar, when that should not be the case if it is not near a Supply Area.

As "Close near/at the High", this implies it does NOT have to be a downbar.
Therefore a "Test" can be either a Up Bar or Down Bar.

This is based on the book "MTM" with looking at different charts does NOT mention specifically whether Test has to be a Up Bar or Down Bar.
It does mention "Close near/at the High".
Perhaps the Trader Guide videos or the actual software now show testing a bit different.


Separate issue below.
For other users who likes Candlesticks but cannot tell what is the Open of those bars given by Trader Guide.
Do a basic assumption that the majority of the "Close of the Last Bar" is the "Open of the Current Bar", then you will see the Full Candlestick.
  • #15,132
  • Edited 9:35am Mar 7, 2011 9:22am | Edited 9:35am
Quoting 1pipperhour
EU daily volume looks very high already. Look at the candle. It's so small. Any ideas experienced traders?
Based on tradeguider definition it could be looked at as a squat type bar signaling a possible EORM however it also notes that for this we will typically be into a new high with no aparent trading ranges near by. Since we are in fact back at that old trading range from 2010 that ended up being the top for that year we could also be simply be seeing absorbtion of the sellers at this old range... I guess as is normally the case the next few bars should give us some sign.

Also for me Friday closed as a ND, lowest vol and close off the highs...

(Also my current daily bar still has low vol compared to the last many bars)
Today's zone = Tomorrow's opportunity!
  • #15,133
  • Mar 7, 2011 9:28am Mar 7, 2011 9:28am
Quoting Intel
Yours was a good setup.
i actually took that exact trade. saw the first bottom on stopping vol just before london open. assumed the vol might be too high and would need to be tested again on low vol. saw it come back to that level again on much lower volume than before (although not particularly low volume on the last down bar). jumped on it and closed it out at 4020
  • #15,134
  • Mar 7, 2011 9:29am Mar 7, 2011 9:29am
Quoting ewokuk
i actually took that exact trade. saw the first bottom on stopping vol just before london open. assumed the vol might be too high and would need to be tested again on low vol. saw it come back to that level again on much lower volume than before (although not particularly low volume on the last down bar). jumped on it and closed it out at 4020
Well I am glad someone actaully traded it
Today's zone = Tomorrow's opportunity!
  • #15,135
  • Mar 7, 2011 9:29am Mar 7, 2011 9:29am
Quoting pres78
Not sure of this was to Intel or me... lack of equity and a spouse on maternity leave are two of many reasons... plus I didn't take the trade (it was a set-up I would have taken though) as I slept through LO as the new baby had a rough night
About maternity leave.

You should move to Estonia. We have a thing called "mother's salary" or to be exact "parental benefit". After baby's birth a parent can have this parental benefit 575 days (or till baby becomes 18 months old) according to her/his previous year's average salary. And the best thing is you can be at home all this time and not to worry about your income 575 days .

Oh, and maternity leave lasts 3 years. Good huh?
  • #15,136
  • Mar 7, 2011 9:30am Mar 7, 2011 9:30am
Quoting 1pipperhour
About maternity leave.

You should move to Estonia. We have a thing called "mother's salary" or to be exact "parental benefit". After baby's birth a parent can have this parental benefit 575 days (or till baby becomes 18 months old) according to her/his previous year's average salary. And the best thing is you can be at home all this time and not to worry about your income 575 days .

Oh, and maternity leave lasts 3 years. Good huh?
Wow... quite different from here in Canada.
Today's zone = Tomorrow's opportunity!
  • #15,137
  • Mar 7, 2011 9:34am Mar 7, 2011 9:34am
Quoting pres78
Wow... quite different from here in Canada.
Well there is only 1,4 million of us. So we had to do something about it. Or about 30 years we will not have any tax payers
  • #15,138
  • Mar 7, 2011 9:43am Mar 7, 2011 9:43am
Quoting blocp
Steve

I have sent you a pm and would be really grateful if you could reply.

Thanks
Replied
Blogging daily now at www.volume.zone
  • #15,139
  • Mar 7, 2011 9:44am Mar 7, 2011 9:44am
Anyone watching gu, way too oversold, strength in the background as well
30m also @ strong demand level
  • #15,140
  • Mar 7, 2011 9:45am Mar 7, 2011 9:45am
Quoting duyk20
Anyone watching gu, way too oversold, strength in the background as well
30m also @ strong demand level
I'm not convinced (well I wouldn't be after what I said on Friday LOL)

Can you post a chart showing what you mean?
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