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Trading VSA the way NSK does

  • #821
  • May 12, 2011 3:49am May 12, 2011 3:49am
Quoting ns_karthik
hi courtney....i did not say that we should be long on GU...i said that if we feel that the conditions r good for a long, i would be long GU than long EU...so far, no long looks good...

also, looking at eurgbp....it seems set for a rise which would mean that GU is set for a fall.....
see...this is how we co-relate between currency pairs and getclues on currency movements.....as predicted, gu fell....
  • #822
  • May 12, 2011 4:00am May 12, 2011 4:00am
Quoting ns_karthik
see...this is how we co-relate between currency pairs and getclues on currency movements.....as predicted, gu fell....

Whilst € was bought around the Frankfurt Open, it was the UK traders who bought cable after the London Open and ran it up to the NY close of 6345 which it hit around 9am, whilst those in the know loaded up with shorts for the poor UK Mfg Output data at 9:30 UK time.

Now, the early April support above the 6250 level has held - is this "good value" for the big dogs to become buyers???? TWT.....
Trading Levels with WRBs
  • #823
  • May 12, 2011 4:16am May 12, 2011 4:16am
Quoting Islander
Whilst € was bought around the Frankfurt Open, it was the UK traders who bought cable after the London Open and ran it up to the NY close of 6345 which it hit around 9am, whilst those in the know loaded up with shorts for the poor UK Mfg Output data at 9:30 UK time.

Now, the early April support above the 6250 level has held - is this "good value" for the big dogs to become buyers???? TWT.....
GU will not settle for anything more the 6250...these quarter levels (250pips increments) are GU trait. By hook or by crook it have to touch it in the very least...
  • #824
  • May 12, 2011 4:19am May 12, 2011 4:19am
Quoting ns_karthik
see...this is how we co-relate between currency pairs and getclues on currency movements.....as predicted, gu fell....

Thanks NSK...
I now have the ERU GB charts open and will study correlation of these pairs

this is so easy ... cant understand what all the fuss is about LOL...
years to master ... my foot, 5 mins and its all the way to the bank...

if only...
  • #825
  • May 12, 2011 4:25am May 12, 2011 4:25am
Quoting Islander
Whilst € was bought around the Frankfurt Open, it was the UK traders who bought cable after the London Open and ran it up to the NY close of 6345 which it hit around 9am, whilst those in the know loaded up with shorts for the poor UK Mfg Output data at 9:30 UK time.

Now, the early April support above the 6250 level has held - is this "good value" for the big dogs to become buyers???? TWT.....

GU seems the strongest of the currencies...lets c...
  • #826
  • May 12, 2011 4:26am May 12, 2011 4:26am
Quoting Evak
GU will not settle for anything more the 6250...these quarter levels (250pips increments) are GU trait. By hook or by crook it have to touch it in the very least...

hmmm....interesting thought.....have charts to show?
  • #827
  • May 12, 2011 4:58am May 12, 2011 4:58am
Im currently short the eu gb

Volume was up
Price was up
then volume started dropping off
the price had moved under my daily 50% fib level
I waited for the price to stick over 50% rsi before entry

its currently +16
its been +22 but a there is a slight up tick now.

NSK would you mind giving me a clue if this is sensible or am I missing something larger in the background
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  • #828
  • May 12, 2011 5:48am May 12, 2011 5:48am
Quoting ns_karthik
hmmm....interesting thought.....have charts to show?

FYI...GU is the only pair that seems to respect the 250pips quarter level more then any other pair i know...basically speaking u can just trade of those level once u get your reversal entry right.. As a trader if u thread GU u have to watch for this levels...250 pip increments...

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  • #829
  • May 12, 2011 5:58am May 12, 2011 5:58am
Quoting courtneywild
Im currently short the eu gb

Volume was up
Price was up
then volume started dropping off
the price had moved under my daily 50% fib level
I waited for the price to stick over 50% rsi before entry

its currently +16
its been +22 but a there is a slight up tick now.

NSK would you mind giving me a clue if this is sensible or am I missing something larger in the background

hi courtney....u should have shorted the EU rather...not sure why u missed it....so clear that there was support at 4170 which was broken...free ride for 40 pips....not sure why u missed it....

as for eurgbp, yes it is in a downtrend but not sure what level u got in....if u shorted anywhere below 8700, then u were a bit late on the trade....u could still do well with the trade but i would have preferred entering it higher....wish u the best with it....
  • #830
  • May 12, 2011 5:59am May 12, 2011 5:59am
Quoting courtneywild
Im currently short the eu gb

Volume was up
Price was up
then volume started dropping off
the price had moved under my daily 50% fib level
I waited for the price to stick over 50% rsi before entry

its currently +16
its been +22 but a there is a slight up tick now.

NSK would you mind giving me a clue if this is sensible or am I missing something larger in the background
sorry that i could not comment earlier...i had a power shutdown here....
  • #831
  • May 12, 2011 6:01am May 12, 2011 6:01am
Quoting Evak
FYI...GU is the only pair that seems to respect the 250pips quarter level more then any other pair i know...basically speaking u can just trade of those level once u get your reversal entry right.. As a trader if u thread GU u have to watch for this levels...250 pip increments...

Attachment

very interesting.....so how do u decide whether it will continue going up/down or whether it will reverse?
  • #832
  • May 12, 2011 6:44am May 12, 2011 6:44am
Quoting ns_karthik
sorry that i could not comment earlier...i had a power shutdown here....
u never have to say sorry to me i appreciate any interation.
got in egb 86962 out 86902 it was a test really.

i see the ero...as you say. can't work out where my head was.
  • #833
  • May 12, 2011 6:55am May 12, 2011 6:55am
a couple of days back, i had talked abt clearing of orders before a move up in the GU....attached is a chart for EU where a similar action did happen but in the opposite direction....

from the left of the chart, u can see that between 0600 hrs and 0700 hrs, there is a sudden price increase and a big increase in the volume....so u prepare urself for a short...

this is then followed by a period where price simply ranges between 4610 and 4640 for about 2-3 hrs....u can see the slow decrease in the volume...this is clearing of the orders....here is what happens...

the area around 4620 is a well know SR region....there will be sell orders below this region and stop loss buy orders just above this region....why stop loss buy orders? cos those who had anticipated this resistance region to hold would have placed a sell below this region with a SL just above this...what is this SL? it is basically a buy order to cancel out the sell made lower down....

now, the big boys have decided to take the price down...so what do they do? they need to sell so that they can take the price down, buy it lower and make a profit....so they start cleaning up all the buy orders in this region....again, these are stop loss buy orders....the big boys take the price up and down in this region to eat up all the buy orders....they keep selling selling selling to eat up all the buy orders...as more and more buy orders are eaten up, there is less and less buy orders to eat up further...so the volume starts going down...this is why u see that u place ur orders just above a resistance region , u see it get hit and then u see the price going down....in other words, ur stop loss buy order has been eaten up as well!!

once all or most of the buy orders have been eaten up, the price is ready to go down and down it goes...this is why there is a rise in vol with rise in price,consolidation with small fall in vol, followed by big move down...lower down, the big boys take profit...
Attached Image (click to enlarge)
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  • #834
  • May 12, 2011 6:58am May 12, 2011 6:58am
Quoting courtneywild
gu buy stop hit .63459
Might I inquire as to what made you set a buy stop at that level? Today started for GU the same as yesterday. We were stuck in that range from 6345 - 6380. Yesterday 1 hr after LO we broke out to the topside, tested from above and went up... today 1 hr before LO we broke to the downside, came up and tested it from below and dropped off. Personally after that daily bar yesterday with an increase in volume and a major selling tail I would not have taken any long until we got back above 6380.

Just curious what your thought process was.
Today's zone = Tomorrow's opportunity!
  • #835
  • May 12, 2011 7:10am May 12, 2011 7:10am
eurgbp building a base...maybe good for short-term (2-3 days) long...
  • #836
  • May 12, 2011 7:13am May 12, 2011 7:13am
Quoting Evak
FYI...GU is the only pair that seems to respect the 250pips quarter level more then any other pair i know...basically speaking u can just trade of those level once u get your reversal entry right.. As a trader if u thread GU u have to watch for this levels...250 pip increments...

Attachment
Since this are markers & not to be taken as outright SR points..GU can either over or under shoot this levels ...on approach u look for signs of distribution or accumulation "around this levels once they are tested.. then analyze away with what u know about SR & volume analysis or better still Wyckoff wave analysis (1-4hr charts)...One should be about to plan a trade around it...of coz this are suited more to long timeframe traders then what u advocated here.

But is worth noting this quarter levels be it GU or EU etc...but somehow GU tend to respect it more...i dont know why..

PS: notice that in less then 2 days period since, yesterday & today..GU run a spread of 250 pips from quarter to quarter from yesterday to now (6750 to midpoint 6500)...this is once in a blue moon event indicating key change in supply demand dynamics for GU..
  • #837
  • May 12, 2011 7:30am May 12, 2011 7:30am
Quoting Evak
Since this are markers & not to be taken as outright SR points..GU can either over or under shoot this levels ...on approach u look for signs of distribution or accumulation "around this levels once they are tested.. then analyze away with what u know about SR & volume analysis...

good post Evak....nice way to think of things....nice to know...thanks again...one more point to ponder...
  • #838
  • May 12, 2011 7:38am May 12, 2011 7:38am
Quoting pres78
Might I inquire as to what made you set a buy stop at that level? Today started for GU the same as yesterday. We were stuck in that range from 6345 - 6380. Yesterday 1 hr after LO we broke out to the topside, tested from above and went up... today 1 hr before LO we broke to the downside, came up and tested it from below and dropped off. Personally after that daily bar yesterday with an increase in volume and a major selling tail I would not have taken any long until we got back above 6380.

Just curious what your thought process was.
on the 15mtf 6am onwards volume was rising price dropping. pin bar 9am + high volume climax bar so i was looking for a reversal 20 pips before breakfast. But the people with brains eat my breakfast for me.
  • #839
  • May 12, 2011 7:51am May 12, 2011 7:51am
almost done for the day...now for some relax...:-)
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  • #840
  • May 12, 2011 7:58am May 12, 2011 7:58am
Quoting ns_karthik
almost done for the day...now for some relax...:-)
Mixed bag today with many lessons
Just to say

Thank god for NSK and his relax...
He knows how to switch of this trading drug
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