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vsa with Malcolm

  • #17,181
  • Mar 24, 2011 7:05am Mar 24, 2011 7:05am
Quoting pres78
15 min EU is starting look weak... wider spread upbar on almost no volume follow by two UT bars with the same close. Second one on less volume and less spread. Could see a drop (or at least a retrace from here) into the 4100 zone if the UT's are not immediatley tested and taken out. There is still room in the ADR for more upside... let's see if this is weakness or simply testing for supply above.

Edit... and as quickly as I can write it they are testing the UT wicks...
And price/volume divergence on H1 on last 5 bars
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  • #17,182
  • Mar 24, 2011 7:06am Mar 24, 2011 7:06am
Quoting pres78
15 min EU is starting look weak... wider spread upbar on almost no volume follow by two UT bars with the same close. Second one on less volume and less spread. Could see a drop (or at least a retrace from here) into the 4100 zone if the UT's are not immediatley tested and taken out. There is still room in the ADR for more upside... let's see if this is weakness or simply testing for supply above.

Edit... and as quickly as I can write it they are testing the UT wicks...
Up will go.
  • #17,183
  • Mar 24, 2011 7:10am Mar 24, 2011 7:10am
Quoting leonarrdo
Up will go.
Don't know we could be looking at a third UT, have to see what happens here. We are at a point of resistance from yesterday where the bulls retrace was stopped and we saw further drop.

Oh course NY just joined the party so let's see what they do.
Today's zone = Tomorrow's opportunity!
  • #17,184
  • Mar 24, 2011 7:14am Mar 24, 2011 7:14am
Quoting pres78
15 min EU is starting look weak... wider spread upbar on almost no volume follow by two UT bars with the same close. Second one on less volume and less spread. Could see a drop (or at least a retrace from here) into the 4100 zone if the UT's are not immediatley tested and taken out. There is still room in the ADR for more upside... let's see if this is weakness or simply testing for supply above.

Edit... and as quickly as I can write it they are testing the UT wicks...
its does match up nicely to that large upthrust bar we had yesterday at 10am est.
  • #17,185
  • Mar 24, 2011 7:14am Mar 24, 2011 7:14am
Either there with us or there not, we'll soon find out.
  • #17,186
  • Mar 24, 2011 7:16am Mar 24, 2011 7:16am
Quoting Oxford
Can someone tell me is it strength or weakness when we have an upbar, higher volume but narrower spread than previous and closing on its high? I thought it was selling into buying (weakness). Is that right?

Thanks for your help.
Ox

It looks like a valid run up to me..
1.405x will hold for now and might experience pull back along the way..

Sonic
  • #17,187
  • Mar 24, 2011 7:17am Mar 24, 2011 7:17am
Quoting pres78
Don't know we could be looking at a third UT, have to see what happens here. We are at a point of resistance from yesterday where the bulls retrace was stopped and we saw further drop.

Oh course NY just joined the party so let's see what they do.
Pres, would you consider taking a trigger from the high of the 5min today? (12:00 GMT) There's an increase in volume but it isn't ultra high.
  • #17,188
  • Mar 24, 2011 7:18am Mar 24, 2011 7:18am
Quoting pres78
Don't know we could be looking at a third UT, have to see what happens here. We are at a point of resistance from yesterday where the bulls retrace was stopped and we saw further drop.

Oh course NY just joined the party so let's see what they do.
Last 15 min was a ND volume UT... Looking weak IMHO, watch for possible retrace into 1.410-1.4 zone...

That last 15min weak UT is looking like it might have bee a trap up move. Into new high ground with no volume to match.
Today's zone = Tomorrow's opportunity!
  • #17,189
  • Mar 24, 2011 7:19am Mar 24, 2011 7:19am
Quoting pres78
Don't know we could be looking at a third UT, have to see what happens here. We are at a point of resistance from yesterday where the bulls retrace was stopped and we saw further drop.

Oh course NY just joined the party so let's see what they do.
would you take a trade on just the break of the past three upthrusts, or would you need to see more confirmation? Like a ND or a lower vol upthrust into the previous ones like you mentioned yesterday?
  • #17,190
  • Mar 24, 2011 7:20am Mar 24, 2011 7:20am
Quoting KinsaleForex
Pres, would you consider taking a trigger from the high of the 5min today? (12:00 GMT) There's an increase in volume but it isn't ultra high.
Yes since it is highest volume in the area of current PA...
Today's zone = Tomorrow's opportunity!
  • #17,191
  • Mar 24, 2011 7:23am Mar 24, 2011 7:23am
Quoting inks2002
would you take a trade on just the break of the past three upthrusts, or would you need to see more confirmation? Like a ND or a lower vol upthrust into the previous ones like you mentioned yesterday?
Would like a test or ND to print at the close of the highest volume 5 min bar at today's high to go short... or a ND / test to print into the low of the highest volume 15 min UT... have both levels marked and would take longs off them as well.
Today's zone = Tomorrow's opportunity!
  • #17,192
  • Mar 24, 2011 7:23am Mar 24, 2011 7:23am
GU looks like it may be in play.. coming up to the close on the UT... on lower volume test may take it up to VAH...
Attached Image (click to enlarge)
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  • #17,193
  • Mar 24, 2011 7:26am Mar 24, 2011 7:26am
Quoting pres78
Would like a test or ND to print at the close of the highest volume 5 min bar at today's high to go short... or a ND / test to print into the low of the highest volume 15 min UT... have both levels marked and would take longs off them as well.
When you say test, what would a test be for a short setup? A ND I know, but when you say test do you mean an upthrust with lower vol into a trigger area?

edit or higher vol UT into trigger?
  • #17,194
  • Mar 24, 2011 7:36am Mar 24, 2011 7:36am
Quoting pres78
... The low of the squat was never taken out...
Exactly this I was watching. Afterwards it gave a good long.
  • #17,195
  • Mar 24, 2011 8:03am Mar 24, 2011 8:03am
Quoting inks2002
When you say test, what would a test be for a short setup? A ND I know, but when you say test do you mean an upthrust with lower vol into a trigger area?

edit or higher vol UT into trigger?
Low volume UT... High volume can contain hidden buyers and can quickly be tested and the high taken out so low is preferred. Many times I will compare to the trigger bar and will trade it as long as the volume isn't crazy high even if its not lower than previous 2. If high enough volume I will often take this as my new trigger to avoid getting whipped out.
Today's zone = Tomorrow's opportunity!
  • #17,196
  • Mar 24, 2011 8:15am Mar 24, 2011 8:15am
Quoting pres78
Low volume UT... High volume can contain hidden buyers and can quickly be tested and the high taken out so low is preferred. Many times I will compare to the trigger bar and will trade it as long as the volume isn't crazy high even if its not lower than previous 2. If high enough volume I will often take this as my new trigger to avoid getting whipped out.
Thanks, good explanation. I sometimes get trapped in the feeling a high volume upthrust is a definate selling signal.
  • #17,197
  • Mar 24, 2011 8:16am Mar 24, 2011 8:16am
Risky Shakeout possible 14120 up will go this will decide.
  • #17,198
  • Mar 24, 2011 8:24am Mar 24, 2011 8:24am
EU: nice upthrust after weakness in bg on M5, 1315 GMT
  • #17,199
  • Mar 24, 2011 9:03am Mar 24, 2011 9:03am
1.4140/50 strong resistance area. Clear confirmation can sustain the bullish recovery. 141.20 I’m out.
  • #17,200
  • Mar 24, 2011 9:10am Mar 24, 2011 9:10am
Wait for a ns to appear and price to take out its high. The 15 min eur sure does look good though.
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