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vsa with Malcolm

  • #15,781
  • Mar 10, 2011 7:21pm Mar 10, 2011 7:21pm
Quoting PipPipPip
sorry, i should've been clear. on my 4h and weekly, i thought my latest 4 hr bar closed below my sept 23 weekly closed bar. I then looked at it again, and realized what i said in the beginning was a rushed statement. What I meant was that I have the same notion as you, and I am glad that I am not alone in the opposing positions. Though I would rather see another test at 3780 after a break a little higher, around 3850 area.
I am eyeing the same 3830-3840 levels as Sono for a test but if we move up away and then drop back down for another test into this level leading into or just after LO that would be great too. Also a SO with confirmation and trigger would also be OK.
Today's zone = Tomorrow's opportunity!
  • #15,782
  • Mar 10, 2011 7:28pm Mar 10, 2011 7:28pm
Heard someone in here saying the G/U was in a long term down trend....whats up with that? Been trading for 25 years and it sure looks like an uptrend to me. This short is not a trend trade, this is a retracement.

Mike
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  • #15,783
  • Mar 10, 2011 7:33pm Mar 10, 2011 7:33pm
Quoting pres78
I am eyeing the same 3830-3840 levels as Sono for a test but if we move up away and then drop back down for another test into this level leading into or just after LO that would be great too. Also a SO with confirmation and trigger would also be OK.
I totally agree. If a move up above 50 and then down would assure my security to add in.

Quoting pres78
Oh and I also just noticed that on my 4hr chart, the second highest 4hr bar for both volume and spread (Feb 3rd) this year has it's high at... 3785. Lot's of volume at this level many times this year alone so a low volume test type bar into it seems like a possible SOS...
Sorry, I am still learning a few things here. What is SOS, LO and SO??
  • #15,784
  • Mar 10, 2011 7:35pm Mar 10, 2011 7:35pm
Quoting PipPipPip
I totally agree. If a move up above 50 and then down would assure my security to add in.


Sorry, I am still learning a few things here. What is SOS?
Sign of strength and you may also see some mention SOW (sign of weakness)...
Today's zone = Tomorrow's opportunity!
  • #15,785
  • Mar 10, 2011 7:37pm Mar 10, 2011 7:37pm
EDIT: additional question. what is LO and SO?
  • #15,786
  • Mar 10, 2011 7:37pm Mar 10, 2011 7:37pm
Make sure before entering anything long we are seeing strength in the background... even the right entry signal such as a test without the right background is of no use to us.

Quoting PipPipPip
I totally agree. If a move up above 50 and then down would assure my security to add in.


Sorry, I am still learning a few things here. What is SOS?
Today's zone = Tomorrow's opportunity!
  • #15,787
  • Mar 10, 2011 7:38pm Mar 10, 2011 7:38pm
Quoting PipPipPip
EDIT: additional question. what is LO and SO?
Shake out and London open...
Today's zone = Tomorrow's opportunity!
  • #15,788
  • Mar 10, 2011 7:44pm Mar 10, 2011 7:44pm
Good night all hopefully see you leading into LO... email alerts set for a few levels so I may be up before that. If the baby doesn't wake me first ... or make me sleep through LO again.

What a week...
Today's zone = Tomorrow's opportunity!
  • #15,789
  • Mar 10, 2011 7:46pm Mar 10, 2011 7:46pm
Thanks for the definitions!

Quoting pres78
Make sure before entering anything long we are seeing strength in the background... even the right entry signal such as a test without the right background is of no use to us.
edit: my rejection was a little different. when you say strength in the background, what do you mean?

Quoting pres78
Oh and I also just noticed that on my 4hr chart, the second highest 4hr bar for both volume and spread (Feb 3rd) this year has it's high at... 3785. Lot's of volume at this level many times this year alone so a low volume test type bar into it seems like a possible SOS...
I have been trying to understand volume for quite awhile now, and still learning. When you say low volume test type bar, would an example be the latest 4 hour candle we were just talking about? if not, what do you mean?
  • #15,790
  • Mar 10, 2011 7:51pm Mar 10, 2011 7:51pm
Hi Intel,

I'm afraid I can not do that, since it needs MT4 software support. As far as I know, MT4 doesn't support SMS yet.

Quoting Intel
If he can change it so it sent an SMS, that would be good.
  • #15,791
  • Mar 10, 2011 7:54pm Mar 10, 2011 7:54pm
Quoting PipPipPip
Thanks for the definitions!



edit: my rejection was a little different. when you say strength in the background, what do you mean?



I have been trying to understand volume for quite awhile now, and still learning. When you say low volume test type bar, would an example be the latest 4 hour candle we were just talking about? if not, what do you mean?
The background needs to have strength, not weakness in it. Strong upbars for example with no signs of sellers or an upmove which then has a weak looking retrace, i.e moving down on lowering volume, small spreads etc... and then we could at this point if background allows get in long off a NS in an uptrend or a weak retrace down ending in a test bar. Typically the test bar will get down into a previous low and "test" an area of high volume to see if any supply is still present.

Low volume test shows lack of supply, high volume test can show that either the bar has been bought leading to higher prices or that we may be seeing absorbtion of demand... that is why the low volume tests are looked at as less risky since it shows lack of supply which should lead to higher prices.

Have you read MTM (master the markets) yet? If not this is a must read (several times over).
Today's zone = Tomorrow's opportunity!
  • #15,792
  • Mar 10, 2011 7:58pm Mar 10, 2011 7:58pm
Quoting PipPipPip
Thanks for the definitions!



edit: my rejection was a little different. when you say strength in the background, what do you mean?



I have been trying to understand volume for quite awhile now, and still learning. When you say low volume test type bar, would an example be the latest 4 hour candle we were just talking about? if not, what do you mean?
Check out this post, I marked up one of foxybunny's charts with a really nice example of a low volume test on the EU 1hr chart. Remember that we have to be "testing somthing" and in this example it is a high volume trigger level.

http://www.forexfactory.com/showpost...ostcount=15716
Today's zone = Tomorrow's opportunity!
  • #15,793
  • Mar 10, 2011 7:59pm Mar 10, 2011 7:59pm
Quoting pres78
Good night all hopefully see you leading into LO... email alerts set for a few levels so I may be up before that. If the baby doesn't wake me first ... or make me sleep through LO again.

What a week...
OK now to bed...
Today's zone = Tomorrow's opportunity!
  • #15,794
  • Mar 10, 2011 8:01pm Mar 10, 2011 8:01pm
Quoting pres78
OK now to bed...
I am looking your responses over and studying them. I will also look into that book.
  • #15,795
  • Mar 10, 2011 8:10pm Mar 10, 2011 8:10pm
Hard Shyte scuba iPhone trading says eu stopping vol x 2 1.3800. Note the way they took it down in Asia and accumulated in euro session .

However not going long just yet . But potential strength is there . They may not be done with eu yet as weekly range and support suggests that 1.3670 could be tested . Watch everyone scream euro 1.1 here we come lol


Quoting Steve Gill
I'm tired so very quick comments from me - GU, although the spread in the US session was narrower the volume was lower than earlier. I'm not seeing anything yet that would conclusively stop the down move. Again more likely looking for shorts again tomorrow - this supply isn't shaken out yet.

On EU it looks similar but what intrigues me is that I know the down bar was already formed in the first hour or so, and the rest of the price action took place at the bottom. Potential accumulation? However I am still thinking based on these charts no clear...
Blogging daily now at www.volume.zone
  • #15,796
  • Mar 10, 2011 8:40pm Mar 10, 2011 8:40pm
4 hr eu has an upper trendline at that old resistance level 1.3880 , we may miss a few pips waiting for that to break BUT for me that is the level to start looking for longs.

sitting in airport on mac, wish I knew how to do screen capture on a mac , then i could post a chart.

I think if reason to look for sells of 1.3850 , stop above 1.3880 , tp 1.3750
Blogging daily now at www.volume.zone
  • #15,797
  • Mar 10, 2011 8:50pm Mar 10, 2011 8:50pm
Quoting malcolmb14
4 hr eu has an upper trendline at that old resistance level 1.3880 , we may miss a few pips waiting for that to break BUT for me that is the level to start looking for longs.

sitting in airport on mac, wish I knew how to do screen capture on a mac , then i could post a chart.

I think if reason to look for sells of 1.3850 , stop above 1.3880 , tp 1.3750
to grab the desktop do Command-Shift-3. It'll place a png file on your desktop.
  • #15,798
  • Mar 10, 2011 8:50pm Mar 10, 2011 8:50pm
The built-in screen capture function is accessible with a few different key commands:
- Full-screen capture is apple-shift-3
- Custom-size caputre is apple-shift-4. This will give you cross-hairs with which you can draw a rectangle around the area of the screenshot

In both of these cases the first screen capture will save to your desktop with the name "Picture 1", with the number incrementing up with each successive screenshot.

There are a number of third-party screen capture utilities out there, but my favorite by far is Skitch. If you take a lot of screenshots this is the best app ever. You can discuss the ins and outs of Skitch here at Satisfaction, too!
  • #15,799
  • Mar 10, 2011 8:56pm Mar 10, 2011 8:56pm
Quoting popo
The built-in screen capture function is accessible with a few different key commands:
- Full-screen capture is apple-shift-3
- Custom-size caputre is apple-shift-4. This will give you cross-hairs with which you can draw a rectangle around the area of the screenshot
Quoting inks2002
to grab the desktop do Command-Shift-3. It'll place a png file on your desktop.
y'all beat me to it.
  • #15,800
  • Mar 10, 2011 9:03pm Mar 10, 2011 9:03pm
ok here goes ... wow so much easier than pc ....

why did I not get a mac years ago
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Quoting inks2002
to grab the desktop do Command-Shift-3. It'll place a png file on your desktop.
Blogging daily now at www.volume.zone
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