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vsa with Malcolm

  • #17,501
  • Edited 10:24pm Mar 27, 2011 9:49pm | Edited 10:24pm
Quoting ivonivon
Not VSA related, but hourly EU seems repeating the H&S pattern on the first March.

According to pattern we'll see a retracement back to lower low (possibly 1.4000), before moving up.
Daily/weekly shows that it seems to be having trouble breaking monthly volume at 1.40316. That support area has bulls with steroids. It is a verrrrrry strong area.

ADD:

Oh, and um, weekend closed above 1.40316 and 1.40500. oh ya.
  • #17,502
  • Mar 28, 2011 2:11am Mar 28, 2011 2:11am
EU still playing nice with this channel. There's not really anything else. I'm bearish below 1.407 though because of the supply bar. Above that 1.415 target maybe.
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  • #17,503
  • Mar 28, 2011 2:50am Mar 28, 2011 2:50am
LONG

@ 4067 / sl 4028

target 4300
  • #17,504
  • Mar 28, 2011 2:56am Mar 28, 2011 2:56am
Quoting balut
LONG

@ 4067 / sl 4028

target 4300
Can you confirm why? Just trying to understand your reasons.
Blogging daily now at www.volume.zone
  • #17,505
  • Mar 28, 2011 4:16am Mar 28, 2011 4:16am
A losing trade to start the week unfortunately;

Set an order for a buy on cable based on what I thought was a test on a trigger number. Trade triggered and then dipped below the trigger before coming back up on No Demand and an upthrust type bar. It was here that I should have changed my long bias and reversed my trade. But I didn't.

The reason i'm posting this? Feedback and so hopefully someone else can learn from my mistake as well
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  • #17,506
  • Mar 28, 2011 4:18am Mar 28, 2011 4:18am
Looking for a short at the trigger bar EU

Looks like its pushing through and testing for a long now...
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  • #17,507
  • Mar 28, 2011 4:26am Mar 28, 2011 4:26am
Price is going up on decreasing volume. Short at trigger bar as mentioned above?

Seb
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  • #17,508
  • Mar 28, 2011 4:53am Mar 28, 2011 4:53am
Here is a good short I took. Price went to VAL.

IBH is at 1.4079 (at least on my charts)
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  • #17,509
  • Mar 28, 2011 4:55am Mar 28, 2011 4:55am
If that upthrust is the high of today will we see 1.4000?
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  • #17,510
  • Mar 28, 2011 4:57am Mar 28, 2011 4:57am
Quoting ozzieb88
Looking for a short at the trigger bar EU

Looks like its pushing through and testing for a long now...
I was watching the same set up forming. As it turned out later, price has dropped after the test of higher TF trendline and triger line that was formed at the beginning of LO

The last rally up was on decreasing volume and then we had nice reversal with down bar on higher volume.

Apart from VSA, it was nice 1:1 ABC correction.

In my opinion, great set-up, in accordance with higher TF. What do you guys think?
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Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #17,511
  • Mar 28, 2011 5:10am Mar 28, 2011 5:10am
Quoting KinsaleForex
A losing trade to start the week unfortunately;

Set an order for a buy on cable based on what I thought was a test on a trigger number. Trade triggered and then dipped below the trigger before coming back up on No Demand and an upthrust type bar. It was here that I should have changed my long bias and reversed my trade. But I didn't.

The reason i'm posting this? Feedback and so hopefully someone else can learn from my mistake as well
Hi Liam

Interesting post this as I was watching GU as well and partially thinking, "what a bargain!". I slapped myself around the head a few times and closed down my trading platform to stop me taking a trade. I believe GU is on the way up but need the chart to tell me.

I like your trigger numbers (and all the posts here ref that) but do you ever look at other timeframes as well now, or just the 5M? Not criticising if so, just out of interest. I'm working on multiple timeframes like the chart below. I'm waiting for the trend to change on the higher timeframes as well before looking for buys. Might miss a few trades, but hopefully the ones I do get will be safer.
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Blogging daily now at www.volume.zone
  • #17,512
  • Mar 28, 2011 5:17am Mar 28, 2011 5:17am
  •  blocp
  • | Joined Aug 2009 | Status: Patience, Patience,Patience | 22 Posts
Steve

I see you have the diamond trending system on your charts, I have just turned these on this morning and feel these could keep you in safer trades in conjuntion with higher time frames.
  • #17,513
  • Mar 28, 2011 5:18am Mar 28, 2011 5:18am
Quoting Steve Gill
Hi Liam

Interesting post this as I was watching GU as well and partially thinking, "what a bargain!". I slapped myself around the head a few times and closed down my trading platform to stop me taking a trade. I believe GU is on the way up but need the chart to tell me.

I like your trigger numbers (and all the posts here ref that) but do you ever look at other timeframes as well now, or just the 5M? Not criticising if so, just out of interest. I'm working on multiple timeframes like the chart below. I'm waiting for the trend to change on the...
Yeah I tend to look at the hourly and 20min charts as well, i'm just taking my trades from the 5min now. Although i was trading against the larger trend earlier, so I guess I didn't look that hard! The perfect short set up was there after I entered my long but I was blind to it.

I could never get used to using that multi chart system with TG. Being on a 13" screen i think it's just a bit too small. I see you're using the trending indicator and diamonds too. Do you find you like them?
  • #17,514
  • Mar 28, 2011 5:22am Mar 28, 2011 5:22am
Quoting KinsaleForex
I could never get used to using that multi chart system with TG. Being on a 13" screen i think it's just a bit too small. I see you're using the trending indicator and diamonds too. Do you find you like them?
So far yes, but its early days (same to blocp). Its keeping me from rushing in which to be honest is only a good thing right now.

I know we shouldn't use crystal balls but I do believe today will be a day of accumulation in both GU and EU. I'm not biased but based on strength in the background on the (much) higher timeframes that is my feeling. But as always, (IMHO as I know not everyone does this), I plan to trade the trend
Blogging daily now at www.volume.zone
  • #17,515
  • Mar 28, 2011 5:29am Mar 28, 2011 5:29am
Quoting KinsaleForex
Yeah I tend to look at the hourly and 20min charts as well, i'm just taking my trades from the 5min now. Although i was trading against the larger trend earlier, so I guess I didn't look that hard! The perfect short set up was there after I entered my long but I was blind to it.

I could never get used to using that multi chart system with TG. Being on a 13" screen i think it's just a bit too small. I see you're using the trending indicator and diamonds too. Do you find you like them?
I think if you try trend diamons with setting 200 in M5, that would keep you out of bad trades most of the time. It`s like higher timeframes trend.
  • #17,516
  • Mar 28, 2011 5:31am Mar 28, 2011 5:31am
Quoting juhanimi
I think if you try trend diamons with setting 200 in M5, that would keep you out of bad trades most of the time. It`s like higher timeframes trend.
200 just makes the diamonds flat, need a much lower number for TG. When I do put them on, i usually use 9 / 10
  • #17,517
  • Mar 28, 2011 5:35am Mar 28, 2011 5:35am
Quoting Steve Gill
So far yes, but its early days (same to blocp). Its keeping me from rushing in which to be honest is only a good thing right now.

I know we shouldn't use crystal balls but I do believe today will be a day of accumulation in both GU and EU. I'm not biased but based on strength in the background on the (much) higher timeframes that is my feeling. But as always, (IMHO as I know not everyone does this), I plan to trade the trend
Well you're wiser than me at the moment, i'm probably a little guilty of trying to pick a bottom. I do much prefer these trigger numbers though, makes a lot more sense to me than what I was trying to do before.

Cable just moved 20pips or so on the 5min. Saw the test at 11:20 - 25 GMT on the trigger but because of the low volume up bars either side I thought it was a bit No Demand like. Oh well!
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  • #17,518
  • Mar 28, 2011 5:36am Mar 28, 2011 5:36am
Quoting KinsaleForex
200 just makes the diamonds flat, need a much lower number for TG. When I do put them on, i usually use 9 / 10
Really, it does not look like in this GU-M5 pic?
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  • #17,519
  • Mar 28, 2011 5:38am Mar 28, 2011 5:38am
Quoting juhanimi
Really, it does not look like in this GU-M5 pic?
Nothing like it, but that's not TradeGuider, so there's the difference straight away!
  • #17,520
  • Mar 28, 2011 5:40am Mar 28, 2011 5:40am
Quoting KinsaleForex
Nothing like it, but that's not TradeGuider, so there's the difference straight away!
Strange, when I had a TG, I found out that trend diamonds 20 was exactly same than SMA 20 in MT4, but I think it was on higher timeframe than M5.
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