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vsa with Malcolm

  • #16,301
  • Mar 15, 2011 11:16am Mar 15, 2011 11:16am
Quoting KinsaleForex
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.
Based on the 2 bar rule you would have only gotten in on the 3rd one you have marked with almost no drawdown ...

We tend to see this many times in that we pull away from a trigger level and then come back down to it to test and many times we get below it as happened here only to get back above and test one last time before moving away.

And yes that wide spread high volume bar was a clear message as they busted through the recent high seen to the left.

Edit... also don't you have new higher volume trigger levels that form after that first one you have marked?
Today's zone = Tomorrow's opportunity!
  • #16,302
  • Mar 15, 2011 11:27am Mar 15, 2011 11:27am
Quoting Sonofsin5
There was many tells today.
Thanks Sono, that's another factor to get my head around, pushing through supply, so the test three bars later would have been a good entry?

Quoting pres78
Based on the 2 bar rule you would have only gotten in on the 3rd one you have marked with almost no drawdown ...

We tend to see this many times in that we pull away from a trigger level and then come back down to it to test and many times we get below it as happened here only to get back above and test one last time before moving away.

And yes that wide spread high volume bar was a clear message as they busted through the recent high seen to the left.

Edit... also don't you have new higher volume trigger levels that form after that first...
Technically there are other trigger levels yes, but i've marked the one with the highest volume (at least on my chart). The others don't seem to come into play if it's the areas i think you're talking about.
  • #16,303
  • Mar 15, 2011 11:28am Mar 15, 2011 11:28am
Quoting KinsaleForex
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.
Here is the set-up I would have ended up based on the higher volume trigger that presented itself... would have been a bit riskier but there were enough signs to take it...

New trigger level was set and then we pulled away and came back down and tested it on higher volume but could not make a lower low than the trigegr despite all the volume... as soon as that second bar printed up I would have entered on the break of the high as a passed high volume test of the trigger.
Attached Image (click to enlarge)
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Today's zone = Tomorrow's opportunity!
  • #16,304
  • Mar 15, 2011 11:34am Mar 15, 2011 11:34am
Another NS has just printed on the EU 15 min... getting close to FOMC though.
Today's zone = Tomorrow's opportunity!
  • #16,305
  • Mar 15, 2011 11:39am Mar 15, 2011 11:39am
Quoting pres78
Here is the set-up I would have ended up based on the higher volume trigger that presented itself... would have been a bit riskier but there were enough signs to take it...

New trigger level was set and then we pulled away and came back down and tested it on higher volume but could not make a lower low than the trigegr despite all the volume... as soon as that second bar printed up I would have entered on the break of the high as a passed high volume test of the trigger.
Interesting, I just thought as it wasn't higher volume than the one i've marked it wasn't really in play.

I've learnt more the last two days than I have the last two months
  • #16,306
  • Mar 15, 2011 11:48am Mar 15, 2011 11:48am
Quoting KinsaleForex
Interesting, I just thought as it wasn't higher volume than the one i've marked it wasn't really in play.

I've learnt more the last two days than I have the last two months
Which bar is your trigger then? Isn't it the blue bar on the left side which the trigger goes through the close? If so the bar I marked has higher volume does it not?

Edit... nevermind I see it now... I grabbed the chart that Sono marked up which doesn't show your trigger bar which is on higher volume. Based on that then yes the 3rd test is the nicest... That high volume test of the lowest trigger (yes lower volume trigger) would still be an entry I would take off the obvious increased volume and upbar showing buyers. We approched the level on increasing volume but yet could't close lower than the close of the trigger bar... so if the volume wasn't selling...
Today's zone = Tomorrow's opportunity!
  • #16,307
  • Mar 15, 2011 11:53am Mar 15, 2011 11:53am
Look at the overall volume, price is going higher and volume is droping.
Anyone explain to newbie please?
Thx
Seb
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  • #16,308
  • Mar 15, 2011 11:55am Mar 15, 2011 11:55am
Quoting Flynchenberg
Look at the overall volume, price is going higher and volume is droping.
Anyone explain to newbie please?
Thx
Seb
London session closed so overall we typically see less volume. Overall today we have seen some nice volume accross all the timeframes... Daily bar thus far looks very much like a SO (still have FOMC so could change entirely)... highest volume I have seen on daily in quite some time.
Today's zone = Tomorrow's opportunity!
  • #16,309
  • Mar 15, 2011 11:57am Mar 15, 2011 11:57am
Quoting Flynchenberg
Look at the overall volume, price is going higher and volume is droping.
Anyone explain to newbie please?
Thx
Seb
You have had almost no volume at all over the last while... looks weird.

Compare to mine...
Attached Image (click to enlarge)
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Today's zone = Tomorrow's opportunity!
  • #16,310
  • Mar 15, 2011 11:59am Mar 15, 2011 11:59am
Quoting Flynchenberg
Look at the overall volume, price is going higher and volume is droping.
Anyone explain to newbie please?
Thx
Seb
Quite simply, if that's a 4hr chart, there's something wrong with your feed. I posted my 4hr chart a page or two back, have a look;

http://www.forexfactory.com/showpost...ostcount=16304
  • #16,311
  • Mar 15, 2011 12:00pm Mar 15, 2011 12:00pm
Quoting pres78
Which bar is your trigger then? Isn't it the blue bar on the left side which the trigger goes through the close? If so the bar I marked has higher volume does it not?

Edit... nevermind I see it now... I grabbed the chart that Sono marked up which doesn't show your trigger bar which is on higher volume. Based on that then yes the 3rd test is the nicest... That high volume test of the lowest trigger (yes lower volume trigger) would still be an entry I would take off the obvious increased volume and upbar showing buyers....
Nice one, cheers for your insight. 5min charts are quickly becoming likeable!
  • #16,312
  • Mar 15, 2011 12:03pm Mar 15, 2011 12:03pm
Quoting KinsaleForex
Nice one, cheers for your insight. 5min charts are quickly becoming likeable!
You can even use your 20min for overall background and entries from the 5min...
Today's zone = Tomorrow's opportunity!
  • #16,313
  • Mar 15, 2011 12:08pm Mar 15, 2011 12:08pm
Never had problems so far.
This is GDP/USD. Do You guys have similar one?
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  • #16,314
  • Mar 15, 2011 12:09pm Mar 15, 2011 12:09pm
Quoting pres78
You can even use your 20min for overall background and entries from the 5min...
I am fond of my 20min charts!

As you may have noticed from my screens i'm using 1hr, 20min, and 5min. Mind you I still didn't take a position today. Although i noted entries on GU, EU, EJ and EC using 5mins and they've all come good so i'm happy with that progress.
  • #16,315
  • Mar 15, 2011 12:09pm Mar 15, 2011 12:09pm
good morning to all. congrats to those who entered on the trace back down. i'd enter a boat load. i totally missed it this morning, given that i had to so much to do this morning.
  • #16,316
  • Mar 15, 2011 12:10pm Mar 15, 2011 12:10pm
Quoting Flynchenberg
Never had problems so far.
This is GDP/USD. Do You guys have similar one?
Nope again I do not have the drop off on the right hand side.
Today's zone = Tomorrow's opportunity!
  • #16,317
  • Mar 15, 2011 12:10pm Mar 15, 2011 12:10pm
Quoting Flynchenberg
Never had problems so far.
This is GDP/USD. Do You guys have similar one?
This is Cable 4hr, last 100 bars.
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  • #16,318
  • Mar 15, 2011 12:20pm Mar 15, 2011 12:20pm
Quoting Flynchenberg
Never had problems so far.
This is GDP/USD. Do You guys have similar one?
It could be that your broker did something on their end. I remember when IBFX switched over to 5 digits the volume was huge compared to 4 digits. On my end I have increasing volume on up moves and decreasing on down moves except this last move. The volume on up was lower, but the recent 4h (EU) bar was on huge volume. So meh. I don't really like this so close to FOMC. Need a test bar and/or follow through to be sure it's not a trap.
  • #16,319
  • Mar 15, 2011 12:33pm Mar 15, 2011 12:33pm
I just checked on my demo account on GO4X, and it looks like this.
IT IS M30.
Can someone provide a chart to compare?

ps. I still do not know if it is my laptop or my broker LiteForex

Thx, guys, You are great,
Seb
Attached Image (click to enlarge)
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  • #16,320
  • Mar 15, 2011 12:50pm Mar 15, 2011 12:50pm
Here you go...

Quoting Flynchenberg
I just checked on my demo account on GO4X, and it looks like this.
IT IS M30.
Can someone provide a chart to compare?

ps. I still do not know if it is my laptop or my broker LiteForex

Thx, guys, You are great,
Seb
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 37 KB
Today's zone = Tomorrow's opportunity!
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