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vsa with Malcolm

  • #16,001
  • Mar 13, 2011 7:24am Mar 13, 2011 7:24am
Quoting Steve Gill
EU, and latterly a bit of GU.

I think the number 1 priority should be to become extremely proficient in VSA, a skill that you can then carry forward to trade with other pairs in the future. I personally find it easier to concentrate on 1 or 2 pairs whilst learning
It would definately make it easier if I had a TG style scanner. Maybe I should get SMART!!!!!
  • #16,002
  • Mar 13, 2011 7:26am Mar 13, 2011 7:26am
Quoting Intel
It would definately make it easier if I had a TG style scanner. Maybe I should get SMART!!!!!
Hey now...VSA makes us SMART enough
Today's zone = Tomorrow's opportunity!
  • #16,003
  • Mar 13, 2011 7:28am Mar 13, 2011 7:28am
Quoting KinsaleForex
So i've been reflecting on the week gone by and have a question for newbies, novices and experts alike. How many FX pairings do you keep an eye on? I know this thread is largely geared towards EUR/USD.

Personally I have 11 in my TG scanner, mainly due to the low spreads that they have but i'm starting to think I should hone in on just the 1 or 2. EU/GU for example.

Opinions?
I mostly trade short term intraday with EUR/USD and GBP/USD. I also watch AUD/USD, USD/CHF, USD/CAD, and EUR/GBP for some swing trades.

Cheers
  • #16,004
  • Mar 13, 2011 7:37am Mar 13, 2011 7:37am
Quoting Intel
I'm afraid I agree with Magix again (I know thats twice this year!!!!).

This trading strategy and VSA are not comparable.


I can almost feel the love... kind of like a slow motion movie sequence with Intel and Magix running towards each other in a field.
Today's zone = Tomorrow's opportunity!
  • #16,005
  • Mar 13, 2011 7:47am Mar 13, 2011 7:47am
Hi all,

My first post here. First I am greatfull to Malcolm for opening this thread and helping to learn this method.

Just wondering if any of you read Tom Williams new Master the markets book. I heard it has new chapter for Forex. Much appreciate if any of you can help me on this.

BTW , I hv his previous book and reading it now.

Thanks

Suranga
  • #16,006
  • Mar 13, 2011 8:02am Mar 13, 2011 8:02am
Thanks for the replies people, given me a few things to think about anyway.

Also, been watching those videos Sonofsin posted a week or two ago, very good!
  • #16,007
  • Mar 13, 2011 8:17am Mar 13, 2011 8:17am
Quoting Suranga2500
Just wondering if any of you read Tom Williams new Master the markets book. I heard it has new chapter for Forex. Much appreciate if any of you can help me on this.
I think you're talking about Gavin Holmes' book, which is due out in about 2 weeks. He mentioned it at the Saturday webinar. In terms of other updates, the MT4 and Tradestation plugins are about to be released, and will be sold in limited quantities.
Quoting pres78
I can almost feel the love... kind of like a slow motion movie sequence with Intel and Magix running towards each other in a field.
... but of course, the most appropriate ending here is for each to run past one another ... one runs to a waiting Tom Williams, the other to Twee ...
  • #16,008
  • Mar 13, 2011 8:21am Mar 13, 2011 8:21am
Quoting KinsaleForex
So i've been reflecting on the week gone by and have a question for newbies, novices and experts alike. How many FX pairings do you keep an eye on? I know this thread is largely geared towards EUR/USD.

Personally I have 11 in my TG scanner, mainly due to the low spreads that they have but i'm starting to think I should hone in on just the 1 or 2. EU/GU for example.

Opinions?
Depending on the Time Frame you choose to trade or the ranges that you call profit, working with multiple pairs can be to your advantage.

Understanding trade pair relations and correlations can help you take that second trade, potentially doubling up on profits, or securing a single trade to give the best range of play. Of 2 of the best tools you will find, imo, in forex are the trade pairs of USD/JPY and EUR/GBP...

Though a lot of traders have steered over to the Euro as primaries, there are still times of lull, hours and hours of sideways action. If your time for trading is limited, having the above 2 pairs on deck can help you find a trade that will offer the potential of a little prosperity.

Typically, I do not trade these pairs, especially EG, but it will work as a pretty good strength/weakness indicator for the others. IF you trade Fiber and Cable, and you are watching the overall direction, you will understand that they can and do move in the same direction but at different paces. Looking at EG to see of it is a bear or bull will tell you which of the 2 will be the better of the trades. Knowing that market plays forward and corrects, taking counter trends and trend trades with the strengths will offer some of the better ranges. Hypothetical, EG is playing bullish, the usd pairs are heading into a bearish pull back, looking for a quick counter on GBP/USD will most likely offer the greatest chance for success.

Using USDJPY will lend itself to the same. Watching to see if the Yank is in a bullish run, you watching to see if EG is bullish as well, you can find a better short on Cable...

When working with this in addition to your regular trade strategy, it has to assume that you can successfully trade a single pair, and again is time frame dependent.

A few on watch while you are learning your craft can be of a grand assistance, keeping in mind that just because you are watching other pairs, doesn't mean you have to be taking trades on them.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #16,009
  • Mar 13, 2011 8:56am Mar 13, 2011 8:56am
From a s/r and volume standpoint, this is what I am looking at into the opening hours of market.

Possible support test on previously hidden gap, 3. POC
Possible resistance test on thinly traded area above, 4.

Movement from each of these 2 points to determine if we test the above and below previous points of resistance/support.

Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #16,010
  • Mar 13, 2011 9:07am Mar 13, 2011 9:07am
Quoting Magix
Depending on the Time Frame you choose to trade or the ranges that you call profit, working with multiple pairs can be to your advantage.

Understanding trade pair relations and correlations can help you take that second trade, potentially doubling up on profits, or securing a single trade to give the best range of play....
Thanks for that Magix, more to think about Chunnel and Yennie were already in my watch list anyway but you've made some interesting points in there!
  • #16,011
  • Edited 10:06am Mar 13, 2011 9:45am | Edited 10:06am
I've seen a few comments on the Friday upmove being on low volume but IMHO we saw increased volume at just the right times to show that there was strength in the move up.

After the post earthquake news SO down to the weekly low we can still see buyers in both down bars... this is quite evedent on the 1hr charts. First bar down after the LO move up we can see is on reduced volume and closes off it's low... Volume is still above average so it is still not known if we are seeing buyers or absorption as we head down into Thursday's VAL.

The next downbar is on increased volume and again closes well off it's low... next two bars are up on increasing volume... sign of buyers.

Bar 3 is a SO / test bar into the close trigger level of that last downbar... this would have been a nice long entry off this 1hr chart.

The following 2 upbars were on good volume with strong closes... now look at the increase in volume on the next bar (highest of the day on my broker)... why are we seeing this? because we are breaking out of this weeks down move channel... increased volume moving into a channel top shows strength and SM interest in moving out of the channel... also look at how strong the bar closed.

Slight drop off in volume as London was leaving for the day but then we had a nice NS print during an obvious upmove... another sign of strength.
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Today's zone = Tomorrow's opportunity!
  • #16,012
  • Mar 13, 2011 10:05am Mar 13, 2011 10:05am
Quoting pres78
why are we seeing this? because we are breaking out of this weeks down move channel...
Channel yes, but applied fib fans makes this look a little perplexing...H4....
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #16,013
  • Mar 13, 2011 10:08am Mar 13, 2011 10:08am
Quoting Magix
Channel yes, but applied fib fans makes this look a little perplexing...H4....
Well then it's probably good that I don't understand fib fans or my outlook could become fuzzy
Today's zone = Tomorrow's opportunity!
  • #16,014
  • Mar 13, 2011 10:14am Mar 13, 2011 10:14am
Quoting pres78
Well then it's probably good that I don't understand fib fans or my outlook could become fuzzy
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #16,015
  • Mar 13, 2011 10:17am Mar 13, 2011 10:17am
Quoting pres78
Well then it's probably good that I don't understand fib fans or my outlook could become fuzzy
Perhaps a little clearer view with volume added...

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #16,016
  • Mar 13, 2011 10:50am Mar 13, 2011 10:50am
Those market profiles are showing serious unbalanced areas down to 1.3850
  • #16,017
  • Mar 13, 2011 10:56am Mar 13, 2011 10:56am
Quoting Magix
Depending on the Time Frame you choose to trade or the ranges that you call profit, working with multiple pairs can be to your advantage.

Understanding trade pair relations and correlations can help you take that second trade, potentially doubling up on profits, or securing a single trade to give the best range of play. Of 2 of the best tools you will find, imo, in forex are the trade pairs of USD/JPY and EUR/GBP...

Though a lot of traders have steered over to the Euro as primaries, there are still times of lull, hours and hours of sideways...
Mr Magix...lol,

Just had one of those moments when i thought 'why the hell didn't you think about that'!!!

Got to say i know you abit loud sometimes, but your posts (this and 'some' others) are definatly insightful and its clear you have alot of experience in the market!


now thats over......screw off you MACD Trader !! lol
  • #16,018
  • Mar 13, 2011 11:04am Mar 13, 2011 11:04am
Quoting Magix
Perhaps a little clearer view with volume added...

Nice 2 bar reversal...
Today's zone = Tomorrow's opportunity!
  • #16,019
  • Mar 13, 2011 11:07am Mar 13, 2011 11:07am
Quoting Pipkingdom
Those market profiles are showing serious unbalanced areas down to 1.3850
Yep 3850 is an area of interest this uncoming week for sure. Would love to see an early week test into this area to get into a nice long.
Today's zone = Tomorrow's opportunity!
  • #16,020
  • Mar 13, 2011 11:20am Mar 13, 2011 11:20am
Quoting Tea_trader
screw off you MACD Trader !! lol


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