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vsa with Malcolm

  • #17,841
  • Mar 31, 2011 6:14am Mar 31, 2011 6:14am
Quoting Steve Gill
Either way I was going to be right LOL

I only took 59 pips yesterday but not in any trades yet today, I don't like buying at tops even though the setups were there. Maybe need to take more risk, food for thought. I'm watching now for an opportunity to rejoin a long, not sure why people are looking for shorts??
Based purely on the high volume on up bars on the hourly i reckon. And TG just printed an EORM indicator (but we won't go there!)
  • #17,842
  • Mar 31, 2011 6:17am Mar 31, 2011 6:17am
here's the TG MT4 chart
Attached Image (click to enlarge)
Click to Enlarge Name: supply.jpg Size: 72 KB
"Hate the sin, love the sinner." - Gandhi
  • #17,843
  • Mar 31, 2011 6:19am Mar 31, 2011 6:19am
Quoting KinsaleForex
Based purely on the high volume on up bars on the hourly i reckon. And TG just printed an EORM indicator (but we won't go there!)
LOL on the EORM discussion

Do you mean this (chart attached)? Sure supply was hit but it was going to be considering the large move up in a short period of time (all the way since asia and remember asia wiped out the supply seen on the previous move up in the middle of the US session).

Notice the supply isn't as high as the buying yesterday. Now the price is just resting IMHO, I'm waiting for a shakeout in the news in just over an hour - fingers crossed
Attached Image (click to enlarge)
Click to Enlarge Name: eur 1h 31st mar 2011.jpg Size: 185 KB
Blogging daily now at www.volume.zone
  • #17,844
  • Mar 31, 2011 6:19am Mar 31, 2011 6:19am
Quoting Steve Gill
I'm watching now for an opportunity to rejoin a long, not sure why people are looking for shorts??
I remember someone saying that he tries not to be biased. I will not say a name of that guy and also will not point with finger at him.
  • #17,845
  • Mar 31, 2011 6:20am Mar 31, 2011 6:20am
Quoting Steve Gill
Either way I was going to be right LOL

I only took 59 pips yesterday but not in any trades yet today, I don't like buying at tops even though the setups were there. Maybe need to take more risk, food for thought. I'm watching now for an opportunity to rejoin a long, not sure why people are looking for shorts??
No idea all we have seen is a retrace down to test 4200 which was bound to happen... I have not seen enough weakness to take any shorts other than if someone is scalping the retraces. Now if we get below 4200 and got a ND or UT into it I would change my tune.

Some good EU news today and a few US news to come later so we will see. Still targetting 4250.
Today's zone = Tomorrow's opportunity!
  • #17,846
  • Mar 31, 2011 6:23am Mar 31, 2011 6:23am
Quoting 1pipperhour
I remember someone saying that he tries not to be biased. I will not say a name of that guy and also will not point with finger at him.
LOL There is a difference between a bias and trading with (what I consider to be) the trend. I believe we've seen accumulation over the last few days and now we've moved up. but not seen anything like serious distribution yet. That's why I'm looking for longs - if I don't see a setup I like, then I'm out of the market, so be it
Blogging daily now at www.volume.zone
  • #17,847
  • Mar 31, 2011 6:29am Mar 31, 2011 6:29am
Took 10 pips and ran as we bounced off 1.4200 and Daily R2.
Opened long just above daily R2.

M15
Attached Image (click to enlarge)
Click to Enlarge Name: eur3.png Size: 118 KB
  • #17,848
  • Mar 31, 2011 6:40am Mar 31, 2011 6:40am
Good Morning Friends: Here is a 15M of Gold this morning. Two nice tests and a shakeout-reverse upthrust grace this chart. Best Wishes for Big Profits to the Readers.
Attached Image (click to enlarge)
Click to Enlarge Name: gold 15m 3-31-11.gif Size: 26 KB
  • #17,849
  • Mar 31, 2011 6:50am Mar 31, 2011 6:50am
Can't believe I miss this yesterday,

on the following chart, the highlighted bar is at 10:30 , the time of the release of the EIA Petroleum Status Report

http://www.bloomberg.com/markets/economic-calendar/

the stocks are above estimate, so potentially bear, but BB step in as the volume increase dramatically.

I don't know if you would consider the third bar folowing the selling climax as a test ? I don't because it makes a higher high ( I 'm speaking about the doji )?

I took a short on the resistance after I saw top reversal and upthrust on a strong level. breakeven trade , I was too greedy to go out on my initial target ( green line )

Today the CL is going to open in gap above the previous resistance , with this in the background I 'll be looking for test to go long

have a good day
Attached Image (click to enlarge)
Click to Enlarge Name: Selling climax sur news.jpg Size: 59 KB
  • #17,850
  • Mar 31, 2011 7:25am Mar 31, 2011 7:25am
Ah you can almost smell the price manipulation by the SM on EU pre news...
Today's zone = Tomorrow's opportunity!
  • #17,851
  • Mar 31, 2011 7:28am Mar 31, 2011 7:28am
Quoting pres78
Ah you can almost smell the price manipulation by the SM on EU pre news...
Look at all the volume on that second 15min (current) downbar and it's not going anywhere... squat bar... let's see what happens in a couple of mins.
Today's zone = Tomorrow's opportunity!
  • #17,852
  • Mar 31, 2011 7:37am Mar 31, 2011 7:37am
Quoting pres78
Look at all the volume on that second 15min (current) downbar and it's not going anywhere... squat bar... let's see what happens in a couple of mins.
Let's see now if we get a SO on "bad" news...

Seemed to be lot's of buying at 4200 in that last 15min candle right before news release.
Today's zone = Tomorrow's opportunity!
  • #17,853
  • Mar 31, 2011 7:40am Mar 31, 2011 7:40am
Quoting pres78
Let's see now if we get a SO on "bad" news...

Seemed to be lot's of buying at 4200 in that last 15min candle right before news release.
Hi pres78, what does SO mean? Thanks

Shake out?
  • #17,854
  • Mar 31, 2011 7:48am Mar 31, 2011 7:48am
Quoting pres78
Let's see now if we get a SO on "bad" news...

Seemed to be lot's of buying at 4200 in that last 15min candle right before news release.
'ere we go
  • #17,855
  • Mar 31, 2011 8:05am Mar 31, 2011 8:05am
HUGE futures volume at the 15min to the hour point, the majority in the first 5M bar. We're left with a pretty big spread (55pip) spot bar on H1. Looking for reaction at 41482 if we get there.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-03-31_090144.png Size: 53 KB
  • #17,856
  • Mar 31, 2011 8:38am Mar 31, 2011 8:38am
I'm long at 1.4173 based on the 5M chart - will post later (in meeting now).

SL 1.4130 (below POC)
Blogging daily now at www.volume.zone
  • #17,857
  • Mar 31, 2011 8:55am Mar 31, 2011 8:55am
Quoting Sonofsin5
We have inventory data today, I would not be surprised to see a shakeout below 103.75 before we move past our 52 week highs. Is anybody going to be trading post news?
Did anybody get long crude yesterday?
  • #17,858
  • Mar 31, 2011 8:58am Mar 31, 2011 8:58am
Quoting Steve Gill
I'm long at 1.4173 based on the 5M chart - will post later (in meeting now).

SL 1.4130 (below POC)

Steve, is that based upon the NS's appearing?...i'm expecting a SO but fingers crossed not through the recent lows
Attached Image (click to enlarge)
Click to Enlarge Name: 31mar 5m vsa nyk open.gif Size: 26 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #17,859
  • Mar 31, 2011 9:01am Mar 31, 2011 9:01am
Quoting Steve Gill
I'm long at 1.4173 based on the 5M chart - will post later (in meeting now).

SL 1.4130 (below POC)
I'm still waiting if it goes through supply and tests it afterwards or it will be rejected now and go down. Trigger is .4183.
  • #17,860
  • Mar 31, 2011 9:03am Mar 31, 2011 9:03am
Quoting fosking
Hi pres78, what does SO mean? Thanks

Shake out?
Yes
Today's zone = Tomorrow's opportunity!
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