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vsa with Malcolm

  • #20,481
  • Edited 10:53am May 26, 2011 10:07am | Edited 10:53am
So for anyone who actually wanted what i see earlier when i said we had signs of weakness on the euro.
here goes:

1. Upbar, Massive volume next bar down. and it couldnt hold breaking the high of previous up bar. weakness
2. Up Bar could be considered ND, i see it more of a Supply due to the range and still 'decent' volume.
3. Upbar low volume is ND.
4. Upbar on heavy volume closing in the middle and breaking a high, is serious weakness.
5. down bar which rallied to a high only to engulf the previous 7 bars on VH volume is serious weakness.

BTW. Sono, how did you get tradetstation to paint your volume bars, mine is really pissing me off leaving it black. as your charts look alot like tradestation
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  • #20,482
  • May 26, 2011 10:12am May 26, 2011 10:12am
Tom emphasizes background strength or weakness is what is going to drive the trend of the trade. The More you find it the more your trades will make sense. Then draw your channel lines and look for the price activity in the upper or lower 1/4..entries in the middle zone can lead to a muddle for newbies, (or pros). This morning I identified the "effort to rise" bar (e/w) and subsequent test (t6) as the defining trend background set up to the Long side after (W2) defined the trend to the short. (W4) UHV hit the top channel line, weakness appears on up bars. This was the background for the short side. so I entered after a weak Hidden test bar was confirmed weak on the next bar. (Not marked) The rest is history... VSA rocks..
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  • #20,483
  • May 26, 2011 10:59am May 26, 2011 10:59am
hi folks,

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enigma4x
enjoy my life ... and ride the waves - all what I do
  • #20,484
  • Edited 12:56pm May 26, 2011 12:40pm | Edited 12:56pm
Quoting enigma4x
hi folks,

Attachment

enigma4x
What are you using as a stoploss? And what are the 3 lines (green, white and red) ?
  • #20,485
  • May 26, 2011 2:19pm May 26, 2011 2:19pm
How should a squat bar be to be valid? What is it exactly?
  • #20,486
  • May 26, 2011 2:23pm May 26, 2011 2:23pm
Quoting dvarrin
How should a squat bar be to be valid? What is it exactly?
There have been lots of posts on squats. Search the thread.
  • #20,487
  • May 26, 2011 2:43pm May 26, 2011 2:43pm
Quoting Sonofsin5
There have been lots of posts on squats. Search the thread.
I've searched the thread. Is it right to say that it is a bar with a narrower spread than the previous bar and an higher volume? Is it a criteria that the close it at the same level as the open?
  • #20,488
  • May 26, 2011 5:30pm May 26, 2011 5:30pm
Think we have some nice room to the upside.
Entry after the marked ns, dont ask me for stops or tp!
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  • #20,489
  • Edited 8:09pm May 26, 2011 7:28pm | Edited 8:09pm
So during my break (well one day counts doesn't it ) I realized I have posted lots of charts and shared lots of comments on others charts but I have not ever posted a test chart... Well I just couldn't walk away without throwing up at least one.

Here is the kicker... I will not share anything more than the short string of bars and the few comments I threw on.

I have hidden the pair, the TF, the date etc... For this test none of that matters. I have highlighted and kept on the chart enough bars to make a decision... background is that for the day these bars printed we are in an uptrend leading into this string of bars.

1. Would you sell that ND which as of it's printing it touched the daily high to the pip and is part of a new swing high. Is there enough weakness in the bars that I have left showing?
2. Does the market continue up, move sideways or head down?

No news considered (since you don't know what time of day this is), nothing else to cloud your judgement... you are handed this chart and asked will you or won't you take the short trade?

I will creep out of the darkness tommorow or this weekend to post the rest of the chart...
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Today's zone = Tomorrow's opportunity!
  • #20,490
  • May 26, 2011 7:59pm May 26, 2011 7:59pm
hey pres..good to see you back man....really dig your chart but i gotta be honest i can not say with certainy which way it will go! i see the ND bar but i dont personally see enough sow to go short (lack of experience)...thanks for chart though and anxious for the result...best regards, john
  • #20,491
  • May 26, 2011 8:29pm May 26, 2011 8:29pm
Quoting pres78
1. Would you sell that ND which as of it's printing it touched the daily high to the pip and is part of a new swing high. Is there enough weakness in the bars that I have left showing?
2. Does the market continue up, move sideways or head down?
1) Sell for 2 reasons:

First, Before price first hit the previous day's high there was that upbar on really high volume (SOW). I can't remember the name but doesn't it represent professionals selling into the buying? I think that is the reason there was a drop a few bars after the price went to that day's high (the U shape). However, before that SOW occurred it was a relatively quiet ranging period, so the SOW signal may just be a reaction to news or the open of some trading session.

Second, the no demand bar occurs as a new bar opens and closes well above the previous daily high. If SM was interested surely there wouldn't be a lack of demand at that area? That can only mean price is going to fall back down, especially since immediately following the ND bar, is a wide spread down bar.

2) Head down after a wide spread downbar
  • #20,492
  • May 26, 2011 8:44pm May 26, 2011 8:44pm
Newb's response:

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  • #20,493
  • May 26, 2011 10:14pm May 26, 2011 10:14pm
Quoting pres78
So during my break (well one day counts doesn't it ) I realized I have posted lots of charts and shared lots of comments on others charts but I have not ever posted a test chart... Well I just couldn't walk away without throwing up at least one.

Here is the kicker... I will not share anything more than the short string of bars and the few comments I threw on.

I have hidden the pair, the TF, the date etc... For this test none of that matters. I have highlighted and kept on the chart enough bars to make a decision... background is that for...
I would not short, too much strength in the background with the HV down bar (which actually printed as an upbar but if you check the close compared to the previous it is in fact a down bar) closing in upper third on the far left of the chart, with price unable to penetrate the high of that bar after several attempts.
Change is the only constant
  • #20,494
  • May 26, 2011 10:18pm May 26, 2011 10:18pm
This 4 hr testr bar was a dead givaway...LOL

Quoting tgwhbb
I would not short, too much strength in the background with the HV down bar (which actually printed as an upbar but if you check the close compared to the previous it is in fact a down bar) closing in upper third on the far left of the chart, with price unable to penetrate the high of that bar after several attempts.
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  • #20,495
  • May 26, 2011 10:32pm May 26, 2011 10:32pm
Quoting tornado11
This 4 hr testr bar was a dead givaway...LOL
Yeah I missed that on pres78's chart... oh wait.. I knew it was EU(file named eu.jpg) but I guess I actually wanted to play the game...

Btw this timeframes really messing wiht my head. that "test" bar on your four hour is a full bodied downbar on MBT lol!
  • #20,496
  • May 26, 2011 10:39pm May 26, 2011 10:39pm
Easy pip on asian session.
Acc almost doubled since jan.
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  • #20,497
  • May 26, 2011 11:14pm May 26, 2011 11:14pm
I have discovered a new love - can't believe I hadn't been following AUDUSD, esp. since I trade Asia much of the time. What a trendy and channel-adhering pair. And, it's got everything VSA101: NDs/NS/SO/UT along with Wyckoff. This is VSA gravy; read the chart and get rich. (Just for any new members, that's No Demand, No Supply, Shakeout, and Upthrust) Throw on a few trend lines and Bob's your uncle.

Also, as a colleague pointed out to me during ES moves today, see the red squatlike bar (blue arrow) on the M15, right into supply, testing, trying to shakeout, and then continuing the move upwards - this is a classic re-enter for more position.

(Yes, there was an ongoing stop hunt to midnight EST in Asia just now, but it still requires reading the signals; AUDUSD stuck to these same moves days ago, and the stop hunt the Asia prior was only 100 pips, today's was 150 pips [in EURUSD] )
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  • #20,498
  • May 27, 2011 12:19am May 27, 2011 12:19am
Quoting Nverstop
Yeah I missed that on pres78's chart... oh wait.. I knew it was EU(file named eu.jpg) but I guess I actually wanted to play the game...

Btw this timeframes really messing wiht my head. that "test" bar on your four hour is a full bodied downbar on MBT lol!
Stupid file name ... too late when I posted I gues overlooked that one little detail.
Today's zone = Tomorrow's opportunity!
  • #20,499
  • May 27, 2011 12:20am May 27, 2011 12:20am
Quoting tornado11
This 4 hr testr bar was a dead givaway...LOL
What about the 4hr test bar was a dead giveaway for the chart I posted? What did it give away?
Today's zone = Tomorrow's opportunity!
  • #20,500
  • May 27, 2011 12:32am May 27, 2011 12:32am
Quoting dvarrin
I've searched the thread. Is it right to say that it is a bar with a narrower spread than the previous bar and an higher volume?
yes

Quoting BeLikeWater
BAR E: SAW 58 TRAP UP MOVE
what do u mean by "58 TRAP UP MOVE" ?
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