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vsa with Malcolm

  • #17,881
  • Mar 31, 2011 8:09am Mar 31, 2011 8:09am
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)
Stopped out at B/E.
Blogging daily now at www.volume.zone
  • #17,882
  • Mar 31, 2011 8:10am Mar 31, 2011 8:10am
Id like to share a little tip a friend in the industry showed me not to long ago that can help in the vsa analysis of some forex pairs. The nyse has listed some currency funds that one can trade for a opportunity to profit from the market all the while limiting exposure. An exchange traded fund has multiple purposes but can also be used by large position holders to hedge against a certain currency.

The symbol for the Euro/Usd is FXE. In the chart below you can see how price tracks the daily movements off the forex cross almost perfectly and gives a volume that when compared to the futures and spot markets match very well. This volume gets ultra high when hedging or breakouts occur. I think you can see what I am getting at from the chart below.
Attached Image (click to enlarge)
Click to Enlarge Name: forewarned.png Size: 31 KB
  • #17,883
  • Mar 31, 2011 8:12am Mar 31, 2011 8:12am
Quoting eleron
Nice ...SO
+15p on this setup
Thank you guys for sharing this method
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 18 KB
  • #17,884
  • Mar 31, 2011 8:28am Mar 31, 2011 8:28am
Quoting Sonofsin5
Id like to share a little tip a friend in the industry showed me not to long ago that can help in the vsa analysis of some forex pairs. The nyse has listed some currency funds that one can trade for a opportunity to profit from the market all the while limiting exposure. An exchange traded fund has multiple purposes but can also be used by large position holders to hedge against a certain currency.

The symbol for the Euro/Usd is FXE. In the chart below you can see how price tracks the daily movements off the forex cross almost perfectly and gives...
Sorry Sonofsin but I can hardly see the chart. Is that a ND?
  • #17,885
  • Mar 31, 2011 8:44am Mar 31, 2011 8:44am
Quoting amletit
Sorry Sonofsin but I can hardly see the chart. Is that a ND?
looks more like a low vol test of the previous top...
Change is the only constant
  • #17,886
  • Mar 31, 2011 8:52am Mar 31, 2011 8:52am
Quoting Beljevina
Be prepared for some possible thrash and movement in EURUSD when Ireland's Stress Test results are released at 4:30pm Ireland time, 11:30am EST. (credit to Kathy Lien)
Just to close the chapter on this - all is well in euroland; Irish banks only need to raise pocket change of EUR24B, WAY below the EUR35B that was projected. Whew! Onwards & upwards ...

Result details here for anyone who has insomnia ...
  • #17,887
  • Mar 31, 2011 8:55am Mar 31, 2011 8:55am
Quoting Beljevina
Just to close the chapter on this - all is well in euroland; Irish banks only need to raise pocket change of EUR24B, WAY below the EUR35B that was projected. Whew! Onwards & upwards ...
  • #17,888
  • Mar 31, 2011 9:03am Mar 31, 2011 9:03am
LOL scalpers paradise
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 28 KB
  • #17,889
  • Mar 31, 2011 9:09am Mar 31, 2011 9:09am
Quoting eleron
LOL scalpers paradise
Trading that range is an account killer not a paradise. You can trade it multiple times until its breaks and runs wiping out all your profit. Ive never met a successful trader who trades this way.
  • #17,890
  • Mar 31, 2011 9:13am Mar 31, 2011 9:13am
Quoting Sonofsin5
Trading that range is an account killer not a paradise. You can trade it multiple times until its breaks and runs wiping out all your profit. Ive never met a successful trader who trades this way.
I have to second this. The range only holds for so long, and I personally find catching the tops and bottoms difficult, thus getting out BE too often. If one can make it work great, but sooner or later you get caught holding in a direction that's just not expected. Kudos to anyone who can do it, but frankly, I find catching 30-70-90 pip moves easier, lol!
  • #17,891
  • Mar 31, 2011 9:14am Mar 31, 2011 9:14am
Quoting Sonofsin5
Trading that range is an account killer not a paradise. You can trade it multiple times until its breaks and runs wiping out all your profit. Ive never met a successful trader who trades this way.
StopLoss just bilow trigger bar.Worth to try IMHO
  • #17,892
  • Mar 31, 2011 9:18am Mar 31, 2011 9:18am
Quoting Sonofsin5
Id like to share a little tip a friend in the industry showed me not to long ago that can help in the vsa analysis of some forex pairs. The nyse has listed some currency funds that one can trade for a opportunity to profit from the market all the while limiting exposure. An exchange traded fund has multiple purposes but can also be used by large position holders to hedge against a certain currency.

The symbol for the Euro/Usd is FXE. In the chart below you can see how price tracks the daily movements off the forex cross almost perfectly and gives...
Good info sonofin,

I take the liberty to zoom in to 2hrs chart & indicate what seems like a re accumulation on the Gap zone...

Wyckoff wave showing preliminary support at 140.45. A test there would suffice for a reason to load up...

Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_49 Apr. 01 00.14.gif Size: 32 KB
  • #17,893
  • Mar 31, 2011 9:20am Mar 31, 2011 9:20am
Quoting eleron
StopLoss just bilow trigger bar.Worth to try IMHO
VSA is not really geared towards scalping. We look for a set-up that matches background and take it looking for 1:1, 2:1, 3:1 etc... trading a range especially one this tight is asking for trouble IMHO as background goes out the window once a tight range has been established. Now don't get me wrong I think I have read on here before about a trader who only trades tests or perhaps ND or NS's into channel boundaries looking for lack of interest in breaking the channel but like Bel said I prefer to get in and hold while riding the trend whilst the background allows.
Today's zone = Tomorrow's opportunity!
  • #17,894
  • Mar 31, 2011 9:20am Mar 31, 2011 9:20am
Quoting kave
Good info sonofin,

I take the liberty to zoom in to 2hrs chart & indicate what seems like a re accumulation on the Gap zone...

Wyckoff wave showing preliminary support at 140.45. A test there would suffice for a reason to load up...

Attachment
Thanks kave, Ive got a lot going on this morning and cant reply to my messages. Thanks for posting that chart. FXE can be a great tool to see what the large money managers are up too.
  • #17,895
  • Mar 31, 2011 9:20am Mar 31, 2011 9:20am
Quoting Beljevina
I have to second this. The range only holds for so long, and I personally find catching the tops and bottoms difficult, thus getting out BE too often. If one can make it work great, but sooner or later you get caught holding in a direction that's just not expected. Kudos to anyone who can do it, but frankly, I find catching 30-70-90 pip moves easier, lol!
I am new here, but this trigger bar was significant IMO
  • #17,896
  • Mar 31, 2011 9:21am Mar 31, 2011 9:21am
it looksl ike the small drop in news is making this price action wild. I still see 1.4150-1.4160 before moving up. I gotta go buy a bike, so no watching screen rest of the day(i hope) and hope that my huge buy order at 4165 hit near the end of the day.

Oh, and forgot to say. Hail Mary to the Bulls for this last run before april.
  • #17,897
  • Mar 31, 2011 9:23am Mar 31, 2011 9:23am
Quoting PipPipPip
it looksl ike the small drop in news is making this price action wild. I still see 1.4150-1.4160 before moving up. I gotta go buy a bike, so no watching screen rest of the day(i hope) and hope that my huge buy order at 4165 hit near the end of the day.
Myself I will be eyeing 4183-4193... would like to see a move up away during Asia toward today's high and then a drop pre LO to test this level to load up some longs.
Today's zone = Tomorrow's opportunity!
  • #17,898
  • Mar 31, 2011 9:26am Mar 31, 2011 9:26am
Quoting pres78
VSA is not really geared towards scalping. We look for a set-up that matches background and take it looking for 1:1, 2:1, 3:1 etc... trading a range especially one this tight is asking for trouble IMHO as background goes out the window once a tight range has been established. Now don't get me wrong I think I have read on here before about a trader who only trades tests or perhaps ND or NS's into channel boundaries looking for lack of interest in breaking the channel but like Bel said I prefer to get in and hold while riding the trend whilst the...
I bought several times.Today I have a luck I gues
  • #17,899
  • Mar 31, 2011 9:31am Mar 31, 2011 9:31am
Quoting eleron
I bought several times.Today I have a luck I gues
Just giving my opinion... trade how you like. Last time I will offer my take on your posts.
Today's zone = Tomorrow's opportunity!
  • #17,900
  • Mar 31, 2011 9:41am Mar 31, 2011 9:41am
Quoting pres78
Just giving my opinion... trade how you like. Last time I will offer my take on your posts.
Excuse me for my english,Did not mean to offend you.Your opinion is important for me
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