vsa with Malcolm

[quote=Trader_X;4644264]ive posted a chart of the current EU 1h chart..i placed arrows(that correspond with the vol) and labeled them..(stole this idea from belikewater!) below are my answers...any response from the grooup is much appreciated...best regards, john

A) im gonna say upthrust..(.im finding different definitions for the volume on upthrust, some say low , others high, not sure)

B) "test"...i believe a test is normally a downward bar but what i think is SM is testing to see if theres any demand here before they sink it..

=> this look more like and hidden up thrust, with low volume, clearly this cannot been take as a test as it makes a new high ( IMO )

=> this could be a classic No demand bar if the close was slightly higher,
given that this is in the same area of the upthrust and that the volume is a lot less, it is a nice short

C) Bottom Reversal...the spread really isnt that wide but its the only defination i could find discribing this action

=> I would not consider it as a bottom reversal, the range of the bar are too large small as you saw , can't say too much on this

D) Test,Failed..volume to high

there supply in this bar for sure ( and demand, large interest here so might goes revisit this area),
folowing is ND bar, at this point I would be still happy with my short

E) Shakeout..

demand overcoming supply again, I would move my stop few pip above the NO demand bar

F) have no idea

I would regroup F and the two previous bars to read it like a top reversal, with volume less important in the down move ( I like it for top reversal) , right at the level of the Hidden UT that trigger the potential short. Next bar is No demand,
last bar ... I don't know if it is a finished bar ? ( this would be a no demand) again



which way will the market go? because i dont know what F is im not sure and i since i dont know then at this point i would just wait !!!

On the basis on the chart you provide and only on this, I say this is going south !

I'm not an expert at all, just giving my opinion

Sambo

Whilst you have contributed a good deal to this thread and are the reason I am trading triggers I feel that i'm going to jump on the taking a break bandwagon as well. I've gained a lot of knowledge through using triggers and I need to concentrate on my own trading a bit more.

Everything people need to know is in this thread already. It just might take a bit of digging to find it.

As pres has said, best of luck to everyone.

Cheers,

Liam

I wouldnt worry about PF charting, whilst yes; it does have some merit for longer term timeframes.
Using it to trade intraday would be bad as frankly the counts would be terrible.

PF is like divergences it works amazing at times, but others its waayyyy off.

Im also yet to find a good way of charting PF in forex, as due to the pip size and volatility counts are always and i mean always short of where they end up.

Everybody is leaving...this thread is dead...too bad...best thread on FF...

All that because of my question about P&F :-((((((((((((((((((((((((

Lets get back to trading VSA

This is EU 15m. The lines are on the HLC of the highest volume bar, call it trigger call it demand it doesn't matter. What matters is the last time price traded here, the professional side of the market was active and they were bullish.

Tokyo is in two hours, maybe we will see a bullish reaction here.

There's a big difference between taking a break from posting and leaving.

Also this thread is far from dead my friend, no worries.

really sorry about that, learned alot from your posts , thanks for everything and hope youll be back here soon

I'm taking a coffee break, does that count?

been seriously considering purchasing the full version of tradeguider software...was wondering are there any newbies here who have the software and are actually making money with it???? ive watched alot of videos with gavin(whose a great trader and a great salesman!) but i waatched a few vidoes ,on youtube, of some regular guys using TG and they seem to be doing well...i realise NO software is gonna make you rich, but it does look as though the software can help identify trade setups alittle easier for beginners...any comments or advice are appreciated..best regards, John

Depends where are you taken it...

I meant use option to speculate a further price and not necessary as an insurance to your position in stock. I'm seeing a previous demand area and some strength coming in...you're trying to get the probability in your favor so for that you need to take in consideration multiple aspects

Think about it...remember when a girlfriend says she wants to take a "break"...

First I think we need to establish what defines a trend a few bars, a channel formed by multiple bars? Because if you are referring to the first alternative you're right if you take in consideration 1 day, but the 1h chart is in a downtrend channel from the beginning of this month or if you think is more accurate from the end of last week at least that's the way I see it. So if I'm looking to trade in armony with the higher time frames means I try to pick the top/bottoms? Don't you think that is more probably if you're trading and using the trends on smaller time frames? For sure I need to work this trading with the trend plan because it doesn't give me the satisfaction I need.

looking to go long on eu. a test of that old resistance line would be ideal

I would like to long it from 1.4117

But at the momenth maybe small scalp short from 1.4190...Prevous high volume areas


We will see

Made a couple of good trades (for me) and wanted to show what you guys have taught me, and see what you all thought on a couple of these signals.

The blue vertical lines are trades that I took and ended up makin 30 pips on. The green vertical lines are trades I almost pulled the trigger on, but I wanted to see the next bar. On the green lined bars, when price breaks out like this, are these NS's (i know the second green line isnt a NS by definition, but close to it) as reliable as they seem here? I didn't feel comfortable with out seeing the sequence of tests and no supplies so I didnt enter.

You may be wondering why I didnt stay in the trade from the first test. Well, greed is a formidable foe. I have only been trading for 4 weeks now. Made 5 trades in stocks, saw the commisions were too high and learning curve to slow, so I switched to forex and luckily found this thread. Over the past 4 weeks I have lost 4% of my account while only risking 1/8% on each trade. Some losses have been bad trades, but it has mostly stemmed from not taking profits when I should have. I had planned on using VSA to get me out of trades as well. But I usually end up twisting the facts to the outcome that I want.

I have actually made good trades most of the time, but I either let them break even or worse thinking the move was not over. My worst has been being 54 pips to the good and adding to my position, then selling one more time on the way back up thinking it was only a retrace. Turned into a 70 pip loss....ugh still hurts. But, lesson learned.

So now I made a rule today that i am going to take 10 pip profit on every trade or move my stop to 10+ pips as soon as i get there. So on the day I make that rule it keeps me out of a 70 pip move LOL. But I dont care I am determined to make that money back 10 pips at a time.

Thank you for all your knowledge. Pres78 and Kinsaleforex, hope you dont stay gone long, you are on my "must read posts" list, and I always like to hear what you guys have to say.

Edit: That second green line should be placed on the down bar with red volume 2 bars before it, just now realized the one its on really is a NS. Still wouldnt have taken it for same reasons though.

No, no, no it would be too long you being away from ff. Come on! Get back here at once!

Sony, how did you get the number 1.4117? Previous swing high?
Les

Check those 2, Les

Bye