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vsa with Malcolm

  • #15,221
  • Mar 8, 2011 2:27am Mar 8, 2011 2:27am
Quoting Intel
EU M15

Potential setup forming. Wait for the trigger tho.
Setup void.
  • #15,222
  • Mar 8, 2011 2:29am Mar 8, 2011 2:29am
Quoting Intel
Setup void.
Hi Intel what setup are u referring to?
is it valid on GU?
  • #15,223
  • Mar 8, 2011 2:30am Mar 8, 2011 2:30am
Quoting willkohsg
Hi Intel what setup are u referring to?
is it valid on GU?
He was looking to go long, but no longer so after the new low.
  • #15,224
  • Mar 8, 2011 2:31am Mar 8, 2011 2:31am
Quoting ozzieb88
Yep and I see the same thing forming on GU... GU lagging though. Time wise.
Can you post a chart, I'm not seeing a setup on GU.
  • #15,225
  • Mar 8, 2011 2:32am Mar 8, 2011 2:32am
Quoting Mr J
He was looking to go long, but no longer so after the new low.
Was with him on that...GU is still in play for me... I have to leave to get to the office hopefully the trigger doesnt form for another 30mins
  • #15,226
  • Mar 8, 2011 2:33am Mar 8, 2011 2:33am
Quoting Mr J
He was looking to go long, but no longer so after the new low.
Thats right. Thanks.
  • #15,227
  • Mar 8, 2011 2:36am Mar 8, 2011 2:36am
EU's next VPOC is 13855..... Would like that to be tested that would be nice for another run up
  • #15,228
  • Mar 8, 2011 2:38am Mar 8, 2011 2:38am
We're seeing a bit of a battle on this 5m candle. See where it finishes.
  • #15,229
  • Mar 8, 2011 2:45am Mar 8, 2011 2:45am
EU M15

The break of the SO low is working well. Similar trade to the one I posted yesterday. Wasn't concentrating or I would have posted it!!!!!
  • #15,230
  • Mar 8, 2011 2:47am Mar 8, 2011 2:47am
USDX is struggling with wednesady's and thursday's poc. There is also one old top @76.80 area where it got hit by supply.

EU has not touched the lower channel line yet. I hope it does, then I can decide whether I go long or not if there will be some valid vsa set up or some pattern I like.

Time will tell.
  • #15,231
  • Mar 8, 2011 2:48am Mar 8, 2011 2:48am
Quoting Intel
EU M15

The break of the SO low is working well. Similar trade to the one I posted yesterday. Wasn't concentrating or I would have posted it!!!!!
If any one did take it, now might be a good time to exit. The M5 SO low is being tested. Possible long setup forming.
  • #15,232
  • Mar 8, 2011 2:52am Mar 8, 2011 2:52am
Quoting Intel
If any one did take it, now might be a good time to exit. The M5 SO low is being tested. Possible long setup forming.
Possible. So far this looks like a typical half-way retrace with a nice run down here. Last 5m bar showed an ease of supply but not a new high. Time to sit and watch.
  • #15,233
  • Mar 8, 2011 3:19am Mar 8, 2011 3:19am
Guys, I'm wondering why you're looking for longs. Right now I'd be looking for short setups as we've clearly broken down below 1.3960 and it doesn't appear to be a shakeout.

I might be wrong, but I'm interested in your reasoning for still looking for longs - to see whether it changes my opinion or not.

One thing to look at is the futures volume - we're not seeing anything that's saying the SM are picking up a bargain.
Blogging daily now at www.volume.zone
  • #15,234
  • Mar 8, 2011 3:33am Mar 8, 2011 3:33am
Would be interesting to see (charts please) some reason for longs.

Quoting Steve Gill
Guys, I'm wondering why you're looking for longs. Right now I'd be looking for short setups as we've clearly broken down below 1.3960 and it doesn't appear to be a shakeout.

I might be wrong, but I'm interested in your reasoning for still looking for longs - to see whether it changes my opinion or not.

One thing to look at is the futures volume - we're not seeing anything that's saying the SM are picking up a bargain.
  • #15,235
  • Mar 8, 2011 3:37am Mar 8, 2011 3:37am
Quoting Steve Gill
Guys, I'm wondering why you're looking for longs. Right now I'd be looking for short setups as we've clearly broken down below 1.3960 and it doesn't appear to be a shakeout.

I might be wrong, but I'm interested in your reasoning for still looking for longs - to see whether it changes my opinion or not.

One thing to look at is the futures volume - we're not seeing anything that's saying the SM are picking up a bargain.
You're quite right, people should be looking for shorts in general. However, if the charts tell me there is a reversal/retrace in progress, I will trade it if I can find an entry. The idea is to help people who are interested in this type of trading. There is plenty of help for the trend followers here from Mal, Sono, yourself and many more but we don't all see it the same way. The setups I look for have proven to be very reliable when you are good enough at recognising them and their variations.
  • #15,236
  • Mar 8, 2011 3:42am Mar 8, 2011 3:42am
Quoting Intel
You're quite right, people should be looking for shorts in general. However, if the charts tell me there is a reversal/retrace in progress, I will trade it if I can find an entry. The idea is to help people who are interested in this type of trading. There is plenty of help for the trend followers here from Mal, Sono, yourself and many more but we don't all see it the same way. The setups I look for have proven to be very reliable when you are good enough at recognising them and their variations.
Sorry I should also have mentioned that I dont look for the big moves. I take what the market says I can have during that particular trade.
  • #15,237
  • Mar 8, 2011 3:42am Mar 8, 2011 3:42am
OPEC will increase oil production with Saudi Arabia. Good for dollar?
  • #15,238
  • Mar 8, 2011 3:47am Mar 8, 2011 3:47am
Quoting Steve Gill
Guys, I'm wondering why you're looking for longs. Right now I'd be looking for short setups as we've clearly broken down below 1.3960 and it doesn't appear to be a shakeout.

I might be wrong, but I'm interested in your reasoning for still looking for longs - to see whether it changes my opinion or not.

One thing to look at is the futures volume - we're not seeing anything that's saying the SM are picking up a bargain.
How do you know that? It can just be a little bit bigger shake out. Who knows. If it breaks below lower channel trend line and I don't see any signs of strength then yes - shorts. Till then I think of it as a shake out which is sign of strength. At the moment yes, there are some signs of weakness on H4 but still dip may be bought at lower trend line. All we can do with EU right now is wait imo.
  • #15,239
  • Mar 8, 2011 3:51am Mar 8, 2011 3:51am
Quoting Intel
You're quite right, people should be looking for shorts in general. However, if the charts tell me there is a reversal/retrace in progress, I will trade it if I can find an entry. The idea is to help people who are interested in this type of trading. There is plenty of help for the trend followers here from Mal, Sono, yourself and many more but we don't all see it the same way. The setups I look for have proven to be very reliable when you are good enough at recognising them and their variations.
Very fair point Intel, it didn't even cross my mind that you were counter trend trading. Its just when I was starting out I found VSA difficult enough without counter trend trading so I presumed everyone was trying to trade with the trend.

Apologies
Blogging daily now at www.volume.zone
  • #15,240
  • Mar 8, 2011 3:54am Mar 8, 2011 3:54am
Would've taken this short if i wasn't being lazy and staying in bed.
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