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vsa with Malcolm

  • #18,261
  • Apr 7, 2011 3:59am Apr 7, 2011 3:59am
1 hr looks like test
  • #18,262
  • Apr 7, 2011 4:38am Apr 7, 2011 4:38am
Quoting Tea_trader
volumes acting abit weird, it seems to be drying up!
Agreed, I was also long, but the market seemed to be struggling to take off after a test, this happened 2x, so I shorted on what looked like a ND confirmation. Still looks a bit strange though.
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  • #18,263
  • Edited 5:06am Apr 7, 2011 5:03am | Edited 5:06am
Quoting FrankSA
Agreed, I was also long, but the market seemed to be struggling to take off after a test, this happened 2x, so I shorted on what looked like a ND confirmation. Still looks a bit strange though.
tell me about it, i got long on quite aggresive entry ended up getting stopped out. im expecting it to hover around 1.4270 and 1.4280, im thinking it could find support here.

i noticed it kept testing on the 5 min but yet there was no capatalizing from the buyers.

but with all the news and portugal crap today...who knows what games are being played.

EDIT**; if you notice we seem to be having a battle between bulls and bears on the 15 closing in the middle/low/high on both sides.
  • #18,264
  • Apr 7, 2011 5:30am Apr 7, 2011 5:30am
Spain is next; http://www.bbc.co.uk/news/business-12983966
  • #18,265
  • Apr 7, 2011 5:35am Apr 7, 2011 5:35am
Spain gets vote of confidence from IMF, German Data is great, rate increase expected (although priced in) but EU is falling. Why?
  • #18,266
  • Apr 7, 2011 5:44am Apr 7, 2011 5:44am
Quoting Oxford
Spain gets vote of confidence from IMF, German Data is great, rate increase expected (although priced in) but EU is falling. Why?
The question to ask yourself is, is there buying on the downbars?

Understandably this morning has been like NFP day, it's a big day with the ECB announcement. I'm watching with interest.
Blogging daily now at www.volume.zone
  • #18,267
  • Apr 7, 2011 5:55am Apr 7, 2011 5:55am
hi guys,

there was great set up on EU in my opinion. I've missed it unfortunately but it is well worth to focus on it for a while.

Background was showing weakness with NDs and dropping volume on up move.

UT marked with blue colour was key bar here. Formed just in the area of trigger bars and closed below them. I think that entry below the low of this UT was perfect short entry (at least for 1:1)

My filters were showing short on all timeframes I consider playing intraday (60, 15, 5).

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: 07.04.2011r.gif Size: 26 KB
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #18,268
  • Apr 7, 2011 6:19am Apr 7, 2011 6:19am
Quoting Baniu
hi guys,

there was great set up on EU in my opinion. I've missed it unfortunately but it is well worth to focus on it for a while.

Background was showing weakness with NDs and dropping volume on up move.

UT marked with blue colour was key bar here. Formed just in the area of trigger bars and closed below them. I think that entry below the low of this UT was perfect short entry (at least for 1:1)

My filters were showing short on all timeframes I consider playing intraday (60, 15, 5).

cheers
UT's need confirmation in the form of a downbar before entering. Entry off an unconfirmed UT is quite risky IMHO as they can just as easily contain buyers.
Today's zone = Tomorrow's opportunity!
  • #18,269
  • Apr 7, 2011 6:20am Apr 7, 2011 6:20am
Quoting Oxford
Spain gets vote of confidence from IMF, German Data is great, rate increase expected (although priced in) but EU is falling. Why?
Mark down before rate announcement. If they are going to take it up why not buy in at lower prices.
Today's zone = Tomorrow's opportunity!
  • #18,270
  • Apr 7, 2011 6:25am Apr 7, 2011 6:25am
Quoting FrankSA
Agreed, I was also long, but the market seemed to be struggling to take off after a test, this happened 2x, so I shorted on what looked like a ND confirmation. Still looks a bit strange though.
Hi Frank!

I wonder Your settings and indicators used. You can publish the details? What are ingested and in what setting. If this problem does not

Thanks!
  • #18,271
  • Apr 7, 2011 6:38am Apr 7, 2011 6:38am
This is what I thought, but let see what comes out.

Quoting pres78
Mark down before rate announcement. If they are going to take it up why not buy in at lower prices.
  • #18,272
  • Apr 7, 2011 6:53am Apr 7, 2011 6:53am
1.4274 is now the new trigger on the 5min EU chart after that announcement.
  • #18,273
  • Apr 7, 2011 7:02am Apr 7, 2011 7:02am
Quoting pres78
UT's need confirmation in the form of a downbar before entering. Entry off an unconfirmed UT is quite risky IMHO as they can just as easily contain buyers.
Ok, so in your opinion what would be the best entry?


Thanks
Chris
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #18,274
  • Apr 7, 2011 7:11am Apr 7, 2011 7:11am
Quoting Baniu
Ok, so in your opinion what would be the best entry?


Thanks
Chris
I didn't see one after the UT on the chart you posted. Perhaps others can comment on whether entering after the downbar confirmation would be a good entry. Myself I like to see a ND after an UT.
Today's zone = Tomorrow's opportunity!
  • #18,275
  • Apr 7, 2011 7:32am Apr 7, 2011 7:32am
Quoting pres78
I didn't see one after the UT on the chart you posted. Perhaps others can comment on whether entering after the downbar confirmation would be a good entry. Myself I like to see a ND after an UT.
I actually took that trade. Weakness in the background and an upthrust under a key level is a good entry IMO. Tom Williams said if you sat and waited for up-thrusts to appear, looking for nothing else and took the opportunity to trade these indications of weakness as they appear, you would have to be a pretty poor trader not to make money.

I do agree with Pres78 though that an even better setup is waiting for a no demand after an upthrust. A lot of times you will get a no demand before the upthrust which then catches the last of the stops and price falls - which is what occurred in this instance. That's the beauty of vsa/wyckoff. Everyone has their own way and preference and no one is right/wrong. It's what each persons sees.
  • #18,276
  • Apr 7, 2011 7:39am Apr 7, 2011 7:39am
Quoting glc3344
I actually took that trade. Weakness in the background and an upthrust under a key level is a good entry IMO. Tom Williams said if you sat and waited for up-thrusts to appear, looking for nothing else and took the opportunity to trade these indications of weakness as they appear, you would have to be a pretty poor trader not to make money.

I do agree with Pres78 though that an even better setup is waiting for a no demand after an upthrust. A lot of times you will get a no demand before upthrust which then catches the last of the stops and price...
Very true... high volume UT's I have seen too many times be full of hidden buyers who quickly take out the high... that is why I error on the side of caution when it comes to high volume UT's.

Here is what I see on the original chart. I would have entered off that squat bar (3rd yellow line from the left) which closed right on the upper yellow trigger level. The UT scares me as the volume is almost the same as the trigger level so the unknow is are we seeing selling or buying. The squat was much more clear as it was very obvious effort to rise with every buy order being wiped out by a sell.
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Today's zone = Tomorrow's opportunity!
  • #18,277
  • Apr 7, 2011 7:50am Apr 7, 2011 7:50am
Ah the old double SO... let's see what direction EU chooses after the dust settles. ECB held true on the rate increase so now where do we go from here?
Today's zone = Tomorrow's opportunity!
  • #18,278
  • Apr 7, 2011 7:52am Apr 7, 2011 7:52am
EU 5min. Would someone help me pull the trigger on this....30pips and gone..agrhhhaaa hehe
Attached Image (click to enlarge)
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  • #18,279
  • Apr 7, 2011 7:58am Apr 7, 2011 7:58am
Quoting 4exgump
Hi Frank!

I wonder Your settings and indicators used. You can publish the details? What are ingested and in what setting. If this problem does not

Thanks!
Hi Gump, The indicators ie. arrows are my own manual VSA markings, I do them as I read, or try to read the market. The other stuff, like better volume bars & the trend thingy are all freely available on this forum. Not sure if I have fully answered your question.
  • #18,280
  • Apr 7, 2011 8:26am Apr 7, 2011 8:26am
I have a buy limit order above what looks like a test bar..why..NY should kick in soon and there has been a mark down in the market. Lets see if once again they kick it to the upside.....??
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