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vsa with Malcolm

  • #16,121
  • Mar 14, 2011 9:01am Mar 14, 2011 9:01am
30 min just closed as a two bars reversal from support.
  • #16,122
  • Mar 14, 2011 9:04am Mar 14, 2011 9:04am
Quoting Sonofsin5
A continuation from Fridays trade on the pound.

The eur IMO looks like a .4000 break this week is inevitable.

An update from my Friday trade. The pound still looks strong today. The eur is caught in a range and needs to get above 4004 for me to buy. We have an accumulation phase currently on the EurUsd. Ill post a eur chart in a bit.
  • #16,123
  • Mar 14, 2011 9:05am Mar 14, 2011 9:05am
Quoting Sonofsin5
An update from my Friday trade. The pound still looks strong today. The eur is caught in a range and needs to get above 4004 for me to buy. We have an accumulation phase currently on the EurUsd. Ill post a eur chart in a bit.
Sorry forgot chart of GU.
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  • #16,124
  • Mar 14, 2011 9:05am Mar 14, 2011 9:05am
Quoting Sonofsin5
An update from my Friday trade. The pound still looks strong today. The eur is caught in a range and needs to get above 4004 for me to buy. We have an accumulation phase currently on the EurUsd. Ill post a eur chart in a bit.
Yes GU just made a nice move up on that last 15min bar.
Today's zone = Tomorrow's opportunity!
  • #16,125
  • Mar 14, 2011 9:07am Mar 14, 2011 9:07am
Quoting tgwhbb
and 30M completed a 2-bar reversal as well right at the top of today's value area. looks like its aiming for 1.4...

Yes it did. Wait for more confirmation though, like a breach of the 3980 before jumping in.
  • #16,126
  • Mar 14, 2011 9:59am Mar 14, 2011 9:59am
Can anyone tell me if the candle marked with 1 has a name?

We see it NOT going down further at increasing volume.

Thanks a lot!
Ox
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  • #16,127
  • Mar 14, 2011 10:19am Mar 14, 2011 10:19am
Quoting Oxford
Can anyone tell me if the candle marked with 1 has a name?

We see it NOT going down further at increasing volume.

Thanks a lot!
Ox
Narrow, range high volume is a squat bar.
Today's zone = Tomorrow's opportunity!
  • #16,128
  • Mar 14, 2011 10:21am Mar 14, 2011 10:21am
Quoting Sonofsin5
Yes it did. Wait for more confirmation though, like a breach of the 3980 before jumping in.
Hi Sonofsin5, can i know, if there happens to be a breach of the 3980, do you just wait for a test before jumping in, or is there any other kind of setups you would be waiting for?
  • #16,129
  • Mar 14, 2011 10:38am Mar 14, 2011 10:38am
Quoting Mtm
Hi Sonofsin5, can i know, if there happens to be a breach of the 3980, do you just wait for a test before jumping in, or is there any other kind of setups you would be waiting for?
3980 seems to be met with sellers capping any attempt to get back to 4000. There are 2 plausible scenarios that will most likely occur after 3980 is breached.

1. Price will rocket past 3980 and immediately test 4000 which will not give a retest.

2 We break 3980, mingle for a while there and creep up to .4000.

My thinking; #1 is most likely. The longer we dink around this area the bigger the up move should be, if north is where large money wants to take this.
  • #16,130
  • Mar 14, 2011 10:43am Mar 14, 2011 10:43am
Thank you pres78!!

Quoting pres78
Narrow, range high volume is a squat bar.
  • #16,131
  • Edited 11:12am Mar 14, 2011 11:00am | Edited 11:12am
Quoting Sonofsin5
3980 seems to be met with sellers capping any attempt to get back to 4000. There are 2 plausible scenarios that will most likely occur after 3980 is breached.

1. Price will rocket past 3980 and immediately test 4000 which will not give a retest.

2 We break 3980, mingle for a while there and creep up to .4000.

My thinking; #1 is most likely. The longer we dink around this area the bigger the up move should be, if north is where large money wants to take this.
I am studying.. this area looks like one of the times where price bounced up and down within a zone and it seems to have a bit bit more sign of re-accumulation than distribution, i suppose this is what you have spotted too/ ?

i know some gurus here would wait for a "no effort to fall" bar to appear before entering long when dealing with these kind of zones.

but did you mean you're just going to enter long, as long as 3980 is breached?
would you not go down on a smaller TF and wait for a test to enter?


did u mean that you would probably have just placed a limit order at 3980 already, when dealing with areas like this... somewhat like trading a breakout?
  • #16,132
  • Mar 14, 2011 11:06am Mar 14, 2011 11:06am
Quoting 1pipperhour
Long @3952. Target .3987. Saw test on 5 min and after that went long.

Not a call.
Target hit on second trial @3949. First one was be +1.
  • #16,133
  • Mar 14, 2011 11:08am Mar 14, 2011 11:08am
Well done!

Quoting 1pipperhour
Target hit on second trial @3949. First one was be +1.
  • #16,134
  • Mar 14, 2011 11:13am Mar 14, 2011 11:13am
Did anyone take this?
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  • #16,135
  • Mar 14, 2011 11:18am Mar 14, 2011 11:18am
Quoting 1pipperhour
Did anyone take this?
I did. At last !
  • #16,136
  • Mar 14, 2011 11:18am Mar 14, 2011 11:18am
Quoting Sonofsin5
Sorry forgot chart of GU.
Man Sono GU is having a good run today... nice trade to carry on from Friday.

Looking at EU now I wish I had held my long from Friday...
Today's zone = Tomorrow's opportunity!
  • #16,137
  • Mar 14, 2011 11:23am Mar 14, 2011 11:23am
Quoting 1pipperhour
Did anyone take this?
i did, and closed at 3990 after the small rejection of NY initial balance extension. Unless things change i'll be looking for another long around 3930 during Asia.
Change is the only constant
  • #16,138
  • Mar 14, 2011 11:24am Mar 14, 2011 11:24am
Quoting 1pipperhour
Did anyone take this?
I leave for work at quarter to the hour so just missed it by 5mins!
  • #16,139
  • Mar 14, 2011 11:25am Mar 14, 2011 11:25am
Quoting pres78
Man Sono GU is having a good run today... nice trade to carry on from Friday.

Looking at EU now I wish I had held my long from Friday...
That was a wise decision. I honestly would have not closed it and would have been scared when it dipped and closed earlier.


There is a some background on the daily. I am not sure if it is viable enough. october6-7's candle is exactly in the same position as today's with some volume. I am just not sure if it would be safe to enter....
  • #16,140
  • Mar 14, 2011 11:30am Mar 14, 2011 11:30am
Quoting PipPipPip
That was a wise decision. I honestly would have not closed it and would have been scared when it dipped and closed earlier.


There is a some background on the daily. I am not sure if it is viable enough. october6-7's candle is exactly in the same position as today's with some volume. I am just not sure if it would be safe to enter....
Wait for the market to give the signal before entering anything based on VSA. Close to end of day now plus London has gone home... now we wait for a test or SO into an area of high interest like 3930 or 3980 depending on how Asia plays out.
Today's zone = Tomorrow's opportunity!
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