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vsa with Malcolm

  • #18,101
  • Apr 5, 2011 2:24am Apr 5, 2011 2:24am
Quoting ChinaWombat
spotted NS on eu and gu....fingers crossed (need to sq up or partial tp before uk figures)

gu also supported with .38fib retracement
Looks good. Works well with the trigger moved to the high of the bar instead of the close. I'm only seeing this retrospectively though and trying out the trigger bar on the low/high of a bar as Hidden Gap talks about.
Attached Image (click to enlarge)
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  • #18,102
  • Apr 5, 2011 2:33am Apr 5, 2011 2:33am
Quoting KinsaleForex
Looks good. Works well with the trigger moved to the high of the bar instead of the close. I'm only seeing this retrospectively though and trying out the trigger bar on the low/high of a bar as Hidden Gap talks about.
Took 17 pips off that run. well spotted.
  • #18,103
  • Apr 5, 2011 2:35am Apr 5, 2011 2:35am
I don't trade GU but was switching between GU and EU and saw this and couldn't resist. After I took the trade on GU I saw also set up on EU what you mentioned China and Liam but I couldn't take that trade cos I was already in one.

Here's the chart.
Attached Image (click to enlarge)
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  • #18,104
  • Apr 5, 2011 2:39am Apr 5, 2011 2:39am
Quoting 1pipperhour
I don't trade GU but was switching between GU and EU and saw this and couldn't resist. After I took the trade on GU I saw also set up on EU what you mentioned China and Liam but I couldn't take that trade cos I was already in one.

Here's the chart.
GU is actually the one i highlighted, I think it looks a much better set up than EU, nice one for getting in on it.
  • #18,105
  • Apr 5, 2011 2:44am Apr 5, 2011 2:44am
Quoting KinsaleForex
GU is actually the one i highlighted, I think it looks a much better set up than EU, nice one for getting in on it.
Yes I just noticed that your chart was GU. So you beat me

As I'm writing this it seems that EU is coming back to test .4185 trigger. Possible long set up.
  • #18,106
  • Apr 5, 2011 2:46am Apr 5, 2011 2:46am
Quoting 1pipperhour
Yes I just noticed that your chart was GU. So you beat me

As I'm writing this it seems that EU is coming back to test .4185 trigger. Possible long set up.
Hmm, is that a trigger you have from yesterday? Mine is at .4175, close of the 07:20 GMT bar
  • #18,107
  • Edited 3:10am Apr 5, 2011 2:55am | Edited 3:10am
Quoting KinsaleForex
Hmm, is that a trigger you have from yesterday? Mine is at .4175, close of the 07:20 GMT bar
.4175 is the place where I have S1 so I didn't draw trigger line. 4185 is from squat's (at least I think it is) low and it seemed to be supported. My so mentioned squat bar is at 3:35 GMT. There is 2nd bar reversal as well.

Edit: moved .4185 trigger to .4182. Seems testing 7.30 GMT bar's close?
  • #18,108
  • Apr 5, 2011 3:37am Apr 5, 2011 3:37am
Quoting 1pipperhour
.4175 is the place where I have S1 so I didn't draw trigger line. 4185 is from squat's (at least I think it is) low and it seemed to be supported. My so mentioned squat bar is at 3:35 GMT. There is 2nd bar reversal as well.

Edit: moved .4185 trigger to .4182. Seems testing 7.30 GMT bar's close?
I'm still keeping the 4175 trigger for now.

Also, GU just got interesting, i love news announcements
  • #18,109
  • Apr 5, 2011 3:40am Apr 5, 2011 3:40am
Quoting KinsaleForex
I'm still keeping the 4175 trigger for now.

Also, GU just got interesting, i love news announcements
Dollar is killed by pound. With that strength in the background I expect the same move on EU
  • #18,110
  • Apr 5, 2011 3:41am Apr 5, 2011 3:41am
Quoting 1pipperhour
Dollar is killed by pound. With that strength in the background I expect the same move on EU
If EU would be so kind as to give us a nice low volume test of that trigger before it goes, we'd be more than happy
  • #18,111
  • Apr 5, 2011 4:21am Apr 5, 2011 4:21am
Quoting 1pipperhour
I don't trade GU but was switching between GU and EU and saw this and couldn't resist. After I took the trade on GU I saw also set up on EU what you mentioned China and Liam but I couldn't take that trade cos I was already in one.

Here's the chart.
I took that trade!! :-D I I moved SL to BE when got to 16140. Just got into work, iPad wouldn't pick up reception. Just opened it as fast as I could and nearly fell off my chair!! hahaha
  • #18,112
  • Apr 5, 2011 4:33am Apr 5, 2011 4:33am
Quoting ozzieb88
I took that trade!! :-D I I moved SL to BE when got to 16140. Just got into work, iPad wouldn't pick up reception. Just opened it as fast as I could and nearly fell off my chair!! hahaha


Are you still in the trade?
  • #18,113
  • Apr 5, 2011 4:33am Apr 5, 2011 4:33am
Quoting ozzieb88
I took that trade!! :-D I I moved SL to BE when got to 16140. Just got into work, iPad wouldn't pick up reception. Just opened it as fast as I could and nearly fell off my chair!! hahaha
It was very good trade and one of the easiest set ups I've seen for days
  • #18,114
  • Edited 4:41am Apr 5, 2011 4:38am | Edited 4:41am
There seems to be some resistance at 4190, it has hit it to the pip and bounced off that area 4 times since 9:30 GMT.

Edit - make that 5 times.
  • #18,115
  • Apr 5, 2011 4:47am Apr 5, 2011 4:47am
Quoting KinsaleForex


Are you still in the trade?
yep SL at 16218

total today 101 :-D happy days. Minus 10 yesterday on a stupid trade. I deserve a slap for that one.
  • #18,116
  • Apr 5, 2011 4:54am Apr 5, 2011 4:54am
Quoting KinsaleForex
There seems to be some resistance at 4190, it has hit it to the pip and bounced off that area 4 times since 9:30 GMT.

Edit - make that 5 times.

We don't see break out before NY open I'm afraid.
  • #18,117
  • Apr 5, 2011 5:01am Apr 5, 2011 5:01am
Quoting ozzieb88
yep SL at 16218

total today 101 :-D happy days. Minus 10 yesterday on a stupid trade. I deserve a slap for that one.
Nice one, 101 for any day is a good feeling!

Quoting 1pipperhour
We don't see break out before NY open I'm afraid.
Yeah that could well be the case. It's just broken through to the down side at the moment. I know the overall trend is up, but EU has been falling since the start of the week. More of an observation than conviction towards it being bearish.
  • #18,118
  • Apr 5, 2011 5:06am Apr 5, 2011 5:06am
Hi, Just want to post my failed trade for yesterday. Think if anything it may help if not just point and laugh...

I took the trade thinking short. I shouldn't have but I'm still trying to get the market bias out of my head. The reason I went short:

Increasing volume on down bars (However most did not close on the low but well off - Big indication).

Bars after that although on on lower volume were up, indication of hidden buying.

So after that I should have changed to go long at the test of the trigger level, but I don't know why I didnt. Probably still scared no idea. I did however cut out quicker than my stop loss as I knew that the call was bad so it wasn't so bad just another lesson learnt. Maybe some people can learn from it too.

Main point - read the chart not your gut feeling.

Happy trading
Attached Image (click to enlarge)
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  • #18,119
  • Apr 5, 2011 5:09am Apr 5, 2011 5:09am
Quoting ozzieb88
yep SL at 16218

total today 101 :-D happy days. Minus 10 yesterday on a stupid trade. I deserve a slap for that one.
SL Hit. out for 101. Not complaining lol
  • #18,120
  • Apr 5, 2011 5:10am Apr 5, 2011 5:10am
Quoting KinsaleForex
Nice one, 101 for any day is a good feeling!



Yeah that could well be the case. It's just broken through to the down side at the moment. I know the overall trend is up, but EU has been falling since the start of the week. More of an observation than conviction towards it being bearish.
Looking at the volume it seems that this down move is not supported by SM. And I think that last hourly close gave more reason to sell for the herd.

I'll wait.
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