vsa with Malcolm

Hehe, I'm working on getting there on both counts Malc. One trade at a time.

Watching the Canucks beat the Blackhawks should be on that list. Although last nights game was about as relaxing as a job interview.

First off sorry for the messy chart but EU today was about playing your cards right, waiting for the right set-up and playing FOMC as smart as possible. Now we started off Asia with a bang up 70 or so pips within the first 40 mins.... CRAZY.

Now I have been playing around with 10min MT4 charts (thanks to Polomine) and am starting to love these for my intraday trades. Today's EU chart really is beautiful from a VSA perspective and shows 2 things that I use and watch daily in my intra day trading.

1. Wide Range Bars (WRB) and how one can watch and track price action as it becomes trapped within and how one can see when price is readying to break out.
2. Triggers, triggers, triggers. If you trade VSA intra day triggers make watching for set-ups so much clearer.

Again sorry of the chart appears cluttered but I hope that once you see and make sense of it you too can see the beauty of VSA.

1. WRB on ultra high volume (really wide and stands out like a sore thumb because of the time of day... HG mentioned these in a previous post). I have marked the high and low in black and the close in yellow
2. WRB still on UHV making a higher high. I have marked the high in black and the close in yellow.
3. Stopping volume making a new daily low on UHV closing well off it's low. Buyers? Next bar is up... yep buyers found at Tuesday's high and today's open. If you don't track DPP's etc... mark on previous days high and low and last weeks high and low and today's open and watch for moves and set-ups into these levels on top of normal triggers... the results will amaze.

Now let's pause and look left from bar 3 to bar 1... what do you see? Price tested the high of bar 2 and reversed immediatly on lowering volume so that tells me SM are not interested in higher prices ATM and they are waiting. Being FOMC that makes sense as they will want to buy in lower at some point today if we are to see higher prices. What else well for most of the day we stay trapped within bar 1's body (other than that move up to test bar 2's high). Then with bar 3 we hammer down and make a new low but have found buyers. I now mark this HVB low as a new boundry to watch. I did not mark it's trigger as it was never tested but was watched.

4. Is not a bar per say but the most recent swing high prior to FOMC rate.
10 (sorry for them marked out of order ). News bar and what I was waiting for to trade EU. WRB on UHV closing on it's high major post news SO and a new trigger level as marked in yellow. I did not mark it's H or L as it is still within my current days trading range. The bar right after is not marked but important to the bulls as we came down and hit that swing high to the pip and then closed up on UHV, new high but still in the range. Also note we SO but didn't make a new low...
5. Entry trigger 1 a NS testing 2 triggers. The low hit trigger bar 1's close and the close was on trigger bar 10. Two triggers on 1 bar so I am watching for the high to be taken out within 2 bars.
6. Nice hidden test and now a lower entry. Tested below but closed above both triggers. This is where I entered long.
7. This bar is Key as we took out and closed above bar 1's high.
8. Not a NS per say but a weak downbar...
9. Another Key bar as we took out bar's two high and closed above it for the first time today.

Now as you can see we moved up some and then had another double SO of sorts into that old bar 1 high during Bernanke speech with both closing well on their highs... SOS for higher prices to come.

This chart is an eu 15 min in mf global ( same feed as fxcm) . I opened an account with them as I can trade with ease thru Iphone on the go. Interactive brokers you need to be a bloody rocket scientist

very clear stopping on test of break out of asia last night ...simple trade

seems that no fancy software required once you understand vsa ....

Attachment

ah the shake out came before Ben killed the dollar NOT up move as expected ...

but non the less results the same

http://www.forexfactory.com/showpost...ostcount=19056

Yes close enough... didn't get as low as I thought but that SO into Tuesday's high and Asia BO as you mentioned was good enough. Ben SO was higher up the chart and just confirmed the strength further.

Anybody knows what are the diamonds in Tradeguider? Are they a nonLag Ma or something like that? In which condition are they white?

it's merely a simple 20 MA. Diamond will be green when bars are upside it, and vice versa. It'll become white in transition between those two.

Niz analysis Pres,,got me thinking about drawing week and previous day H&L. Definitely going to try that one. Query: no 8 on your chart, I would see it as a NS after a WB up..why not?

Thank you for the answer ivonivon!! :-)

You make it sound so easy. Wish it were for me that easy too. Guess experience makes the difference.

How do you manage a trade? What are you using as a stop?

Tom Williams was talking about a management system in which we don't let 2 bars closing down in an uptrend on increasing volume. But often we will close on the second down bar close only to see the trend resuming upwards on the next bar.

EU 5min. Took 35 pips off this one. VWB up, UHVol. waited for it to test in case it was effort to go up. Confirmed weakness on 2bar reversal. Pyramid in on same lower down. I have ramped up marking my bars on the chart, it helps at a glance to read the background and areas of strength or weakness. Just an idea...

somebody's short right now?

I'm short after seen the upthrust in the 15" chart, overbought and there's no result from effort.
Many buyers @ 1.482, though. Will keep an eye on it. TP will be around yesterday's spike.

Based on volume it is not a true NS as it is not lower than previous 2. Based on strength in background though and the drop off in volume compared to previous bar I would consider this lack of supply and a sign of strength.

I took that one, but a few bars after the Upthrust, just to get a profit of 6 pips before I chickened out, because the price crossed the Hull on the M5. Shouldn't have done that, but still, I'm not experienced at all (I've probably placed less than 10 trade orders in my life - I'm still afraid of losing hypothetical money). I'm still trying to get the discipline to stick by my decisions.

Another question. Is there a way to reproduce the H stops of TradeGuider in MT4?

In mt4 the name is vsa stop signal.
You'll get it in the TG plugin for MT4.

But is there a way to reproduce it? Is it an ATR Trailing stop?

dunno know.. but if you manage to get mt4 tg plugin installation, you'll get that indi even if you don't have authorization.