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vsa with Malcolm

  • #16,281
  • Mar 15, 2011 10:23am Mar 15, 2011 10:23am
Quoting KinsaleForex
My understanding is that they don't have to touch the trigger to the pip. I'm open to being wrong but I'd consider those two bars as testing into that area and then coming back to close on their highs having rejected that price.
Very well could be... they probably touched the high of that bar anyway which is close to the trigger... perhaps someone more expereinced with trigger #'s could shed some light.
Today's zone = Tomorrow's opportunity!
  • #16,282
  • Mar 15, 2011 10:27am Mar 15, 2011 10:27am
Quoting pres78
Well we just kissed the DPP at 3965... Insert picture of bull here
can u say please what means DPP and also PAL ? what are the meaning of these levels and how you plot them ?
thank you and keep posting !
  • #16,283
  • Mar 15, 2011 10:30am Mar 15, 2011 10:30am
Quoting florins
can u say please what means DPP and also PAL ? what are the meaning of these levels and how you plot them ?
thank you and keep posting !
DPP = Daily Pivot Point and I use an MT4 indicator that plots the daily pivot point and as 3 support and resistance levels to watch for that day only. The daily pivot is basically the 50% point of the previous points high to low range. It seems to attract price and offer bounces etc... on many occasions.

PAL = price action line and it is simply a moving averge line set to period 7, smoothed, HLC/3 and shifted by 4. I use these as a quick reference for intraday trends.
Today's zone = Tomorrow's opportunity!
  • #16,284
  • Mar 15, 2011 10:31am Mar 15, 2011 10:31am
Quoting pres78
Definatley not much volume pushing that move down from the DPP... Lack of selling.
hello sexy!! 30M test of NY initial balance extension (3955). let's not get too excited now...need to watch the follow thru...

normally the extension would cap the day's move...but today does not seem like an ordinary day. A break above 3965 signals initiative buying at this level and if that happens we could see a push back to 1.4
Change is the only constant
  • #16,285
  • Mar 15, 2011 10:36am Mar 15, 2011 10:36am
Quoting tgwhbb
hello sexy!! 30M test of NY initial balance extension (3955). let's not get too excited now...need to watch the follow thru...

normally the extension would cap the day's move...but today does not seem like an ordinary day. A break above 3965 signals initiative buying at this level and if that happens we could see a push back to 1.4
4hr looks very bullish IMHO... fully engulfed, 2 bar reversal with second bar on increased volume and a close on it's high. Nice SO...
Attached Image
Today's zone = Tomorrow's opportunity!
  • #16,286
  • Mar 15, 2011 10:37am Mar 15, 2011 10:37am
Quoting pres78
4hr looks very bullish IMHO... fully engulfed, 2 bar reversal with second bar on increased volume and a close on it's high. Nice SO...
agreed, and notice the shakeout today was basically right into Friday's breakout area.
Change is the only constant
  • #16,287
  • Mar 15, 2011 10:44am Mar 15, 2011 10:44am
4H chart is not based on GMT. Should this be (not) a concern? Or do you disregard this?

Ox

Quoting tgwhbb
agreed, and notice the shakeout today was basically right into Friday's breakout area.
  • #16,288
  • Mar 15, 2011 10:47am Mar 15, 2011 10:47am
Quoting Oxford
4H chart is not based on GMT. Should this be (not) a concern? Or do you disregard this?

Ox
Yes my charts are GMT+1... that does make them difficult to compare but as we have variances in our volume readings through different brokers we all have differnt GMT offsets making our 4hr and up bars slightly differently. All we can each do is trade what we see on our own charts and compare if what we see is different than what someone else is seeing. We all end up at the same place on our charts it may just look a little different getting there.
Today's zone = Tomorrow's opportunity!
  • #16,289
  • Mar 15, 2011 10:49am Mar 15, 2011 10:49am
Quoting Oxford
4H chart is not based on GMT. Should this be (not) a concern? Or do you disregard this?

Ox
my charts are GMT based, and show essentailly the same thing - a 2-bar reversal on good volume (ie the 2nd bar is not necessarily higher than the first, but is high relative to others)
Change is the only constant
  • #16,290
  • Mar 15, 2011 10:51am Mar 15, 2011 10:51am
The last two 4hr bars on EUR are the highest of the year to date. At least that's what E-signal is telling me anyway.
  • #16,291
  • Mar 15, 2011 10:52am Mar 15, 2011 10:52am
Quoting KinsaleForex
The last two 4hr bars on EUR are the highest of the year to date. At least that's what E-signal is telling me anyway.
And which is higher the down or upbar?
Today's zone = Tomorrow's opportunity!
  • #16,292
  • Mar 15, 2011 10:57am Mar 15, 2011 10:57am
Ok. I thought of this as the bar/candle is not completed. But its clear now.

Quoting tgwhbb
my charts are GMT based, and show essentailly the same thing - a 2-bar reversal on good volume (ie the 2nd bar is not necessarily higher than the first, but is high relative to others)
  • #16,293
  • Mar 15, 2011 11:00am Mar 15, 2011 11:00am
Quoting pres78
And which is higher the down or upbar?
TG was even good to enough to put a signal on it - "Bottom Reversal". How nice
Attached Image (click to enlarge)
Click to Enlarge Name: Eddie 4hr.png Size: 69 KB
  • #16,294
  • Mar 15, 2011 11:02am Mar 15, 2011 11:02am
Quoting KinsaleForex
TG was even good to enough to put a signal on it - "Bottom Reversal". How nice
Gotta love it when trade guider even agrees
Today's zone = Tomorrow's opportunity!
  • #16,295
  • Mar 15, 2011 11:04am Mar 15, 2011 11:04am
Quoting pres78
Gotta love it when trade guider even agrees
Ha yeah, but to be fair, if we couldn't spot that that was a reversal of some descript I think it'd be back to the drawing board!
  • #16,296
  • Mar 15, 2011 11:05am Mar 15, 2011 11:05am
Quoting pres78
Gotta love it when trade guider even agrees
you pay for it. it should agree with you always
  • #16,297
  • Mar 15, 2011 11:05am Mar 15, 2011 11:05am
Quoting amletit
you pay for it. it should agree with you always
Well I don't so it's sucking up to me for free
Today's zone = Tomorrow's opportunity!
  • #16,298
  • Mar 15, 2011 11:06am Mar 15, 2011 11:06am
Quoting pres78
Well I don't so it's sucking up to me for free
LOL if you don't pay it has all rights to disagree then
  • #16,299
  • Mar 15, 2011 11:09am Mar 15, 2011 11:09am
In my opinion the 5min wasn't the clearest today but would these be considered tests worth taking? Or risky?

As usual, cheers for any input and thanks for putting up with the constant charts lately!

I'm thinking the first two are a bit risky, but not a great deal of draw down if you did go in.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 5min.png Size: 93 KB
  • #16,300
  • Mar 15, 2011 11:15am Mar 15, 2011 11:15am
There was many tells today.
Attached Image (click to enlarge)
Click to Enlarge Name: blinggg.png Size: 127 KB
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