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vsa with Malcolm

  • #18,841
  • Apr 19, 2011 6:54am Apr 19, 2011 6:54am
Almost a 100 pips move since London Opening and no NS or test to enter :-((
  • #18,842
  • Apr 19, 2011 7:23am Apr 19, 2011 7:23am
Quoting dvarrin
Almost a 100 pips move since London Opening and no NS or test to enter :-((
I think M15 looks promising for you now...

Les_Paul
  • #18,843
  • Apr 19, 2011 7:41am Apr 19, 2011 7:41am
Quoting Les_Paul
I think M15 looks promising for you now...

Les_Paul
Yes :-)) Ty Les_Paul!! I hope there is still some up move remaining ;-)
  • #18,844
  • Apr 19, 2011 7:46am Apr 19, 2011 7:46am
Quoting dvarrin
Almost a 100 pips move since London Opening and no NS or test to enter :-((
Look at your 5 min chart. 20 mins after LO there was a beauty test of the daily open level plus yesterday's POC (if you trade these also)... But a low volume test off the daily open right after LO was a clear long side signal. We already had strength in the background by this point as well with the very clear rejections at 4200 over the last 2 days.
Today's zone = Tomorrow's opportunity!
  • #18,845
  • Apr 19, 2011 7:54am Apr 19, 2011 7:54am
Quoting pres78
Look at your 5 min chart. 20 mins after LO there was a beauty test of the daily open level plus yesterday's POC (if you trade these also)... But a low volume test off the daily open right after LO was a clear long side signal. We already had strength in the background by this point as well with the very clear rejections at 4200 over the last 2 days.
Yes, but I thought something would come on 15 min timeframe too :-(

And an other loss after entering at the end of the trend!!!

VSA don't like me!!!
  • #18,846
  • Apr 19, 2011 8:14am Apr 19, 2011 8:14am
Quoting pres78
Look at your 5 min chart. 20 mins after LO there was a beauty test of the daily open level plus yesterday's POC (if you trade these also)... But a low volume test off the daily open right after LO was a clear long side signal. We already had strength in the background by this point as well with the very clear rejections at 4200 over the last 2 days.
If I look well it appeared on the M15 chart too! Right at the same time! But it was an up bar. What are the conditions for an up bar to be a valid test?
  • #18,847
  • Apr 19, 2011 8:17am Apr 19, 2011 8:17am
Quoting dvarrin
If I look well it appeared on the M15 chart too! Right at the same time! But it was an up bar. What are the conditions for an up bar to be a valid test?
Upbar is called a hidden test.
Today's zone = Tomorrow's opportunity!
  • #18,848
  • Apr 19, 2011 8:19am Apr 19, 2011 8:19am
Quoting pres78
Upbar is called a hidden test.
What should be it's criteria to be a valid hidden test?
  • #18,849
  • Apr 19, 2011 8:23am Apr 19, 2011 8:23am
Hello to everybody!

I have a question about confirmation bars. We have a wide spread down bar closing in the middle with U High volume and the next bar also is down with average volume closing in the middle too.
As first bar has closed, we can say that in this bar we have some support, but when we see next bar we can say that we have more selling then buying in the first bar. We have negative result. Is it right?
I have some confusion with this type of action.
If I see SOS and the second bar closing higher I'm not confusing with it and just looking for tests.

What is it (SOS or SOW without confirmation) and how can I determine this?

Thank you!
  • #18,850
  • Apr 19, 2011 8:35am Apr 19, 2011 8:35am
Quoting V_2008
Hello to everybody!

I have a question about confirmation bars. We have a wide spread down bar closing in the middle with U High volume and the next bar also is down with average volume closing in the middle too.
As first bar has closed, we can say that in this bar we have some support, but when we see next bar we can say that we have more selling then buying in the first bar. We have negative result. Is it right?
I have some confusion with this type of action.
If I see SOS and the second bar closing higher I'm not confusing with it and just...
Many times we will see stopping volume over 2 bars. In addition to this we can start to see SOS several bars before the actual trend reversal happens. The thing to be wary of is waiting after you start to see SOS coming in on downbars as we could also be seeing absorption of demand. If within a few bars we haven't seen an upbar then one can assume we have seen absobption and the downmove is going to continue at least a little while longer.
Today's zone = Tomorrow's opportunity!
  • #18,851
  • Apr 19, 2011 8:38am Apr 19, 2011 8:38am
Quoting dvarrin
What should be it's criteria to be a valid hidden test?
Same as a regular test. Its called hidden test since it closed as an upbar and not a downbar.
Today's zone = Tomorrow's opportunity!
  • #18,852
  • Apr 19, 2011 8:46am Apr 19, 2011 8:46am
Guys now i am BE+10 SL

So will leave it to go futher up...I am as i said expecting some TP to be around 1.4330
Work smart not hard
  • #18,853
  • Apr 19, 2011 8:56am Apr 19, 2011 8:56am
Quoting pres78
Many times we will see stopping volume over 2 bars. In addition to this we can start to see SOS several bars before the actual trend reversal happens. The thing to be wary of is waiting after you start to see SOS coming in on downbars as we could also be seeing absorption of demand. If within a few bars we haven't seen an upbar then one can assume we have seen absobption and the downmove is going to continue at least a little while longer.
Ok. What can you tell about this chart?

Is it possible to buy on a test where the arrow are placed or it is better to see price higher trigger line.

And the main thing what I want to know is where the bar which confirms this buying?!
Attached Image (click to enlarge)
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  • #18,854
  • Apr 19, 2011 9:13am Apr 19, 2011 9:13am
Quoting V_2008
Ok. What can you tell about this chart?

Is it possible to buy on a test where the arrow are placed or it is better to see price higher trigger line.

And the main thing what I want to know is where the bar which confirms this buying?!
Not at my computer so I will take a look and reply a little later.
Today's zone = Tomorrow's opportunity!
  • #18,855
  • Edited 9:27am Apr 19, 2011 9:13am | Edited 9:27am
It looks like the trigger is building some momentum to be either taken out or rejected. I am surprised with this lack of volume move from LO through UO...
Attached Image (click to enlarge)
Click to Enlarge Name: trigger.png Size: 37 KB
  • #18,856
  • Apr 19, 2011 9:30am Apr 19, 2011 9:30am
Quoting pres78
So 1hr after NY open we had a nice 2 bar bottom reversal followed by many, many 5 min entries long on oil.
I can't understand why are you looking for buying?
1 green arrow: The highest volume on the chart, closing near middle of the bar.
2 green arrow: ND
3 green arrow:Something like an hidden up-thrust
4 green arrow: Also hidden up-thrust.
Attached Image
  • #18,857
  • Apr 19, 2011 9:32am Apr 19, 2011 9:32am
Quoting pres78
Not at my computer so I will take a look and reply a little later.
Ok. Thank you!
  • #18,858
  • Apr 19, 2011 9:45am Apr 19, 2011 9:45am
Quoting V_2008
I can't understand why are you looking for buying?
1 green arrow: The highest volume on the chart, closing near middle of the bar.
2 green arrow: ND
3 green arrow:Something like an hidden up-thrust
4 green arrow: Also hidden up-thrust.
Once again will reply after. Remember initial entry was way down the chart right after the 2 bar reversal. ND's in an uptrend are pretty worthless without lots of weakness showing. UT's without good confirmation after can quickly have their wicks tested and the highs taken out just as we saw in this case. Look left (go to a higher timeframe and zoom out) at the close of that highest volume bar... One needs to determine what caused the volume spike... Selling or absorption. This bar entered a previous supply zone so now I wait to see if it was selling or absoption. The next bar was a downbar... Yes. But it was a weak attempt at a downbar. Not much selling there.
Today's zone = Tomorrow's opportunity!
  • #18,859
  • Apr 19, 2011 9:57am Apr 19, 2011 9:57am
Ok now i am moving my BE+35 pips and need to go

Hope that i will see 1.4330 TP hit...lol
Work smart not hard
  • #18,860
  • Apr 19, 2011 10:26am Apr 19, 2011 10:26am
Quoting V_2008
I can't understand why are you looking for buying?
1 green arrow: The highest volume on the chart, closing near middle of the bar.
2 green arrow: ND
3 green arrow:Something like an hidden up-thrust
4 green arrow: Also hidden up-thrust.
1. Agreed but like I said are we seeing actual selling or absorption? Go to 1hr chart zoom out after marking the close of this bar and look left...
2. No demand in the wrong place and quite worthless
3. Probing for supply
4. Probing for supply

If this bar was selling we would have had more of a move down rather than sideways... not saying there was no selling there but in this case it turned out to be absorption of these sellers that we were seeing.

Also we had a high volume test of that trigger bar which closed on it's high on good volume... buying.

Like I said in my inital response the first entries were much lower down after the 2 bar reversal. By the time we get to the bars you marked up we were in a well confirmed up move with lots of SOS in the background.

You are right to quesiton this one bar as it stands out based on volume. Once you see this you need to either close out of your trades or as I did move lot 2 to BE and wait and see what the actual reason for that volume spike was. Looking left I saw a supply zone and therefore waited a few bars for reaction after... the reaction from the sellers was lack luster and therefore I stayed in.
Today's zone = Tomorrow's opportunity!
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