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vsa with Malcolm

  • #18,221
  • Apr 6, 2011 9:14am Apr 6, 2011 9:14am
Thanks. Did you took it? I did and just out because of climax vol on M5.

Quoting pres78
Nice EU SO on the 15min chart off the 38.2 retrace of today's move. We could head back up towards today's high if we get an upbar next to confirm the SO.
  • #18,222
  • Apr 6, 2011 9:16am Apr 6, 2011 9:16am
Quoting Oxford
Thanks. Did you took it? I did and just out because of climax vol on M5.
Yes for 20... Now wathcing for reaction at the 4308 trigger.
Today's zone = Tomorrow's opportunity!
  • #18,223
  • Apr 6, 2011 9:30am Apr 6, 2011 9:30am
Quoting taomql4
Will see who blinks first ..lol TP @.6400
6.400?, that would be where the gap is? is that why thats your tp.

do you just trade off a 1hr chart? are your stops pretty wide?


hey pres are you taking about the 4 weeks of sideways action at the begining of 2010??
  • #18,224
  • Apr 6, 2011 9:42am Apr 6, 2011 9:42am
Quoting Tea_trader
6.400?, that would be where the gap is? is that why thats your tp.

do you just trade off a 1hr chart? are your stops pretty wide?


hey pres are you taking about the 4 weeks of sideways action at the begining of 2010??
Yes , 1Hr and 15TF for entries . I always look for where some buyers are sitting(white line) and I trade off that . They make Good support and Resistance levels and as for stops , I always allow for a 50 pip DD . At some point indicator traders will crap the price action , so I make room for that ..

I meant ,Take Profit at 1.6400 ..
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  • #18,225
  • Apr 6, 2011 9:46am Apr 6, 2011 9:46am
Quoting Tea_trader
6.400?, that would be where the gap is? is that why thats your tp.

do you just trade off a 1hr chart? are your stops pretty wide?


hey pres are you taking about the 4 weeks of sideways action at the begining of 2010??
Chart... even back in 1995 we spent some time in this area before heading back down...
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Today's zone = Tomorrow's opportunity!
  • #18,226
  • Apr 6, 2011 10:02am Apr 6, 2011 10:02am
Quoting pres78
Chart... even back in 1995 we spent some time in this area before heading back down...
just as what i thought. the H1 and H4 closed above daily, weekly and monthly support. DAyum. I cant wait for 1.50-1.51 next. But one step at a time. I am waiting for the daily to close above weekly and monthly strong support 1.3316. if that holds, this week will be awesome
  • #18,227
  • Apr 6, 2011 10:10am Apr 6, 2011 10:10am
Quoting PipPipPip
If price reaches 1.4335-1.4450 area before thursday's ECB meeting, I am closing before the meeting. if this is correct, this would suggest that these moves are all big players trading on speculation, when rate is not priced in yet, or maybe if it has been priced...
i suspected this type of move tomorrow.I am urgently out for now to take some positions. leaving two open.
  • #18,228
  • Apr 6, 2011 10:16am Apr 6, 2011 10:16am
Did anyone notice that over the last 2 days The London session pushed the market mildly down and at the NY open there was an almost immediate intervention and test and push way hard to the long? Just an observation..
  • #18,229
  • Apr 6, 2011 10:37am Apr 6, 2011 10:37am
Quoting FrankSA
Did anyone notice that over the last 2 days The London session pushed the market mildly down and at the NY open there was an almost immediate intervention and test and push way hard to the long? Just an observation..
On tuesday, the london session was quite aggresive on the GU, but yes you are right.
On the euro ive noticed its been getting much more movement in the afternoons, it seems to break a low with buying and then explode.
  • #18,230
  • Apr 6, 2011 10:41am Apr 6, 2011 10:41am
Quoting pres78
Chart... even back in 1995 we spent some time in this area before heading back down...
Yeap thats what i thought you meant. Ive personally got 1.43630 (the top of you box) as my weekly resistance line.

im looking at the daily and i think we could go higher, it looks like we had alot of buying on Friday and then tested yestoday. ill have to break the timeframes down to see if theres any supply poping its head up though!!

Its intresting.
  • #18,231
  • Apr 6, 2011 10:45am Apr 6, 2011 10:45am
Quoting Tea_trader
Yeap thats what i thought you meant. Ive personally got 1.43630 (the top of you box) as my weekly resistance line.

im looking at the daily and i think we could go higher, it looks like we had alot of buying on Friday and then tested yestoday. ill have to break the timeframes down to see if theres any supply poping its head up though!!

Its intresting.
With a strong close today we have taken out a diagonal trend line (from 2008 to 2009 highs on the weekly. Could be a big one for the bulls.

EU rate announcemnt tommorow could cause a big drop if SM has priced the hike in and it doesn't happen.
Today's zone = Tomorrow's opportunity!
  • #18,232
  • Apr 6, 2011 10:50am Apr 6, 2011 10:50am
Watch for some potential profit taking into 4320-4300 zone with London close looming... ADR has been reached so further upside should be limited IMHO... but then again it wouldn't be the first time NY has taken it up further after London left for the day.
Today's zone = Tomorrow's opportunity!
  • #18,233
  • Apr 6, 2011 10:57am Apr 6, 2011 10:57am
16:35 GMT, lovely little test on Cable. Completely missed it though!
  • #18,234
  • Apr 6, 2011 11:01am Apr 6, 2011 11:01am
Quoting pres78
With a strong close today we have taken out a diagonal trend line (from 2008 to 2009 highs on the weekly. Could be a big one for the bulls.

EU rate announcemnt tommorow could cause a big drop if SM has priced the hike in and it doesn't happen.
and that big drop will be perfect to enter into a bull position again. but only if today/tomorrow has to close above the weekly and monthly strong support level even after LO takes in profit. If this happens, this will be very good for bulls.
  • #18,235
  • Apr 6, 2011 11:35am Apr 6, 2011 11:35am
Quoting pres78
Chart... even back in 1995 we spent some time in this area before heading back down...
Pres, Fantastic chart - thanks for doing the footwork.

To me it shows we have much potential upside. They can drive this another few hundred pips. Hard to determine how far, but there are plenty of hundreds-of-pips wicks on overextended weekly pin bars. The late 2008 one is a doozey.

Today's PA has been poetic. I am in awe how they have played this. In hindsight it seems so simply.

The 6pm NY time low liquidity time test was poetry. A gift and telegram of higher prices to come.

I am particularly impressed with this last SO in the NY morning - into the previous day's high - and then a healthy 75 pip rise within 90 minutes. It is completely lovely. And telling: everything gets absorbed while SM unloads the whole way up - how much they have is anyone's guess. That last 75 pip leg is very very impressive - did I mention that? Unfortunately, I was absent to re-enter there.

In whole, they've driven it up a stunning 140 pips on the daily. Who woulda' thunk. I gave up my spot longs into that first rise to 1.431. Tsk tsk. But, am keeping my 6E's - they're just floating along - not sure where to get out of them.
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  • #18,236
  • Apr 6, 2011 11:39am Apr 6, 2011 11:39am
Quoting Beljevina
Pres, Fantastic chart - thanks for doing the footwork.

To me it shows we have much potential upside. They can drive this another few hundred pips. Hard to determine how far, but there are plenty of hundreds-of-pips wicks on overextended weekly pin bars. The late 2008 one is a doozey.

Today's PA has been poetic. I am in awe how they have played this. In hindsight it seems so simply.

The 6pm NY time low liquidity time test was poetry. A gift and telegram of higher prices to come.

I am particularly impressed with this last SO in the NY morning...
What I didn't draw on it was the trendline from 2008-2009 high that we took out today... now to see if we hold above it.
Today's zone = Tomorrow's opportunity!
  • #18,237
  • Apr 6, 2011 12:05pm Apr 6, 2011 12:05pm
Quoting pres78
What I didn't draw on it was the trendline from 2008-2009 high that we took out today... now to see if we hold above it.
I believe I've positioned it correctly on another MT4 chart I have - it is the dashed green line; the H1 zoom makes it look like this, showing PA supported in the hours prior and then a clear rejection/bounce off it, although interestingly, the higher volume is (presumably) with the sellers on the wide spread bar that follows. (The M15 confirms the highest volume bar is the rise to 1.4347.)

EDIT: It's important to note that MT4 has consistency issues with how and what is an accurately placed slanted trendline on a Daily, Weekly or Monthly chart - when portrayed in lower chart timeframes. I am noting this because on a M15, the TL comes in about 1.433 during the NY morning PA, meaning that the Hourly PA I show above on the H1, in fact portrays below the TL on the M15. Bad MT4, very bad MT4.
Attached Image
  • #18,238
  • Edited 12:33pm Apr 6, 2011 12:21pm | Edited 12:33pm
Quoting KinsaleForex
16:35 GMT, lovely little test on Cable. Completely missed it though!
Shame I missed this! About 35 pips to be had. Never mind.
  • #18,239
  • Apr 6, 2011 3:17pm Apr 6, 2011 3:17pm
I know with VSA we ignore the news, but;

Portugal seek bailout;

http://www.bbc.co.uk/news/business-12993318
  • #18,240
  • Apr 6, 2011 3:22pm Apr 6, 2011 3:22pm
Quoting KinsaleForex
I know with VSA we ignore the news, but;

Portugal seek bailout;

http://www.bbc.co.uk/news/business-12993318
For me its not about ignoring the news but watching what the SM do with price action on the news. I'm surprised when this was released the price didn't move a bit.

Been away for almost 2 days but managed to add 7% on account on Tuesday (risking 2%), so happy days
Blogging daily now at www.volume.zone
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