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vsa with Malcolm

  • #20,521
  • May 27, 2011 9:31am May 27, 2011 9:31am
Hey guys at work now but keep an eye out for a new video on my youtube channel showing my appetite index/vsa trade from yesterday for 7.5%
  • #20,522
  • May 27, 2011 9:46am May 27, 2011 9:46am
Quoting frankkn
Hey guys at work now but keep an eye out for a new video on my youtube channel showing my appetite index/vsa trade from yesterday for 7.5%
Hey i was gonna ask you about this, thanks dude.
  • #20,523
  • Edited 10:43am May 27, 2011 9:47am | Edited 10:43am
sounds great frank!! look forward to it...regards, john
  • #20,524
  • May 27, 2011 12:18pm May 27, 2011 12:18pm
wanted fellow traders here opinion..this is a monthly of the EU..i know we never trade such a large TF but its the concept im after...highlighted we have a 2 bar reversal( SOW)..we bounced off a trigger..now from here you'd want to see price drop below the trigger and test the trigger or see an upthrust before CONSIDERING a short position..is this theroy correct??? im only using the monthly as an example..best regards, john
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  • #20,525
  • May 27, 2011 12:27pm May 27, 2011 12:27pm
As Malcolm would say, you'll never get poor trading upthrusts and shakeouts. This is 6B, GU futures.

Along with a few basic facts, just repeat. 1) 1.65 is significant resistance - I see it as the new 1.64. 2) GU had 100+ up move on no news; granted the xxxUSDs are moving due to USD weakness. 3) 1.65 is R3/weekly resistance 4) Monitor other major pairs and indexes, and see if they are coming up to similar/significant resistance. and prone for a reversal 5) And of course, significant increase in volume on that rise.

(Sorry for the multiple volume indis - you can never have too much forex volume )
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  • #20,526
  • May 27, 2011 12:49pm May 27, 2011 12:49pm
Quoting frankkn
Hey guys at work now but keep an eye out for a new video on my youtube channel showing my appetite index/vsa trade from yesterday for 7.5%

Inserted Video
  • #20,527
  • May 27, 2011 1:47pm May 27, 2011 1:47pm
Quoting frankkn
http://www.youtube.com/watch?v=AwDke6Nv6VM
frankkn, this is pretty cool, thanks. I have just one question. Why did you put 3 for gold? It fell, didn't it? Les
  • #20,528
  • May 27, 2011 1:53pm May 27, 2011 1:53pm
Quoting Les_Paul
frankkn, this is pretty cool, thanks. I have just one question. Why did you put 3 for gold? It fell, didn't it? Les
oh sorry, it's clear now - drop in gold means risk appetite....
  • #20,529
  • Edited 6:53pm May 27, 2011 6:28pm | Edited 6:53pm
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.
So I marked up a chart showing how SM actually was showing their selling (they were trying to hide it but it was there IMHO) but I have decided to just post the bare chart and let everyone who took the time to respond make their own decisions. I decided to take a look at volume surges on the 1min chart for fun after watching a few trader guider videos where they traded 1 and 2 min charts.

I have a weekend exercise that I do called TF (time frame) stepping that I may start to test some 1 min chart reviews with to see... but I won't get into that in this post.
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Today's zone = Tomorrow's opportunity!
  • #20,530
  • May 27, 2011 7:12pm May 27, 2011 7:12pm
The Tradeguider plugin for MT4 gives strange signals sometime. And I I use confirmation it gives me No Demand on a down bar on very high volume.
  • #20,531
  • May 27, 2011 7:41pm May 27, 2011 7:41pm
Quoting pres78
So I marked up a chart showing how SM actually was showing their selling (they were trying to hide it but it was there IMHO) but I have decided to just post the bare chart and let everyone who took the time to respond make their own decisions. I decided to take a look at volume surges on the 1min chart for fun after watching a few trader guider videos where they traded 1 and 2 min charts.

I have a weekend exercise that I do called TF (time frame) stepping that I may start to test some 1 min chart reviews with to see... but I won't get into that...
Hmm what did you think of my reasoning to go short from your chart? (help me personally haha)
  • #20,532
  • May 27, 2011 10:24pm May 27, 2011 10:24pm
I will go one better. Check out this slight alteration on your monthly chart. This is all I need to know. Have you seen this one yet??



Quoting Trader_X
wanted fellow traders here opinion..this is a monthly of the EU..i know we never trade such a large TF but its the concept im after...highlighted we have a 2 bar reversal( SOW)..we bounced off a trigger..now from here you'd want to see price drop below the trigger and test the trigger or see an upthrust before CONSIDERING a short position..is this theroy correct??? im only using the monthly as an example..best regards, john
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  • #20,533
  • Edited 1:30am May 28, 2011 1:29am | Edited 1:30am
Quoting pres78
So I marked up a chart showing how SM actually was showing their selling (they were trying to hide it but it was there IMHO) but I have decided to just post the bare chart and let everyone who took the time to respond make their own decisions. I decided to take a look at volume surges on the 1min chart for fun after watching a few trader guider videos where they traded 1 and 2 min charts.

I have a weekend exercise that I do called TF (time frame) stepping that I may start to test some 1 min chart reviews with to see... but I won't get into that...
pres, the candle you marked is the one I omitted although I saw it.....actually to be honest I don`t really know how to handle price bars that show this kind of long upper AND lower wick. I have read that they should be treated as some kind of shakeout bar, where SM often produces them to shake out weak holders before a VERY strong trending move.

But doesn`t this bar look more like a squat bar, although its range from low to high disqualifies it ? Confused.....

Anyway, thanks for sharing . Great to see you back after your holiday !



___________
michael
Be like water.
  • #20,534
  • May 28, 2011 4:01am May 28, 2011 4:01am
EU-M15

These trendlines are drawn in May 20.
They call them dynamic trendlines.
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  • #20,535
  • May 28, 2011 5:19am May 28, 2011 5:19am
Quoting tornado11
I will go one better. Check out this slight alteration on your monthly chart. This is all I need to know. Have you seen this one yet??
I don't understand. What is special on this chart?
  • #20,536
  • May 28, 2011 7:33am May 28, 2011 7:33am
Quoting dvarrin
I don't understand. What is special on this chart?
2 days left for the May bar so this could change but look at the close of the current monthly bar relative to the Monthly trendline which was taken out last month.
Today's zone = Tomorrow's opportunity!
  • #20,537
  • May 28, 2011 7:41am May 28, 2011 7:41am
Quoting dvarrin
I don't understand. What is special on this chart?
the tl retest.... anyway i dont use to trade them at all : P

rather on a monthly chart, lol ^^
Hero calls followed by margin calls...
  • #20,538
  • May 28, 2011 7:45am May 28, 2011 7:45am
Quoting Nverstop
Hmm what did you think of my reasoning to go short from your chart? (help me personally haha)
You caught a lot of good points and had some great reasonings to go short. 2 things...

1. You didn't start looking far enough left (you skipped right past that ultra high volume bar)
2. You had that ultra high volume trigger zone from the bar per item 1 below you which had held up a few times it was tested. Now one could have shorted safely down to the trigger zone and then moved to BE... safest short trade would be to wait and get back below that zone.

I am going to post another follow up this weekend with my comments about the chart just showing my opinions.
Today's zone = Tomorrow's opportunity!
  • #20,539
  • Edited 7:20pm May 28, 2011 7:53am | Edited 7:20pm
Quoting msmarple
pres, the candle you marked is the one I omitted although I saw it.....actually to be honest I don`t really know how to handle price bars that show this kind of long upper AND lower wick. I have read that they should be treated as some kind of shakeout bar, where SM often produces them to shake out weak holders before a VERY strong trending move.

But doesn`t this bar look more like a squat bar, although its range from low to high disqualifies it ? Confused.....

Anyway, thanks for sharing . Great to see you back after your holiday !...
You couldn't have known because I removed the time scale but what this bar actually was... a news bar. This was Thursday 30 mins after NY open when they released 2 high impact news items and well we know what SM uses news for... to SO and in same cases switch positions trapping both weak and long herd traders in the process.

This bar actually almost closed as a doji and doji's are supposed to represent indecision... the bar after was important to me as it was down on high volume with a selling tail confirming that the news bar did contain some hidden selling. Not a time to short but something to keep in mind... potential SOW # 1 for the section of chart I posted. Also this bars trigger zone plays an important role later on...

As mentioned in my post to Nverstop I will post the chart with my review later so you can see my opinions.
Today's zone = Tomorrow's opportunity!
  • #20,540
  • May 28, 2011 9:00am May 28, 2011 9:00am
Quoting pres78
2 days left for the May bar so this could change but look at the close of the current monthly bar relative to the Monthly trendline which was taken out last month.
Oh ok ;-) Ty
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