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vsa with Malcolm

  • #20,561
  • May 29, 2011 7:23am May 29, 2011 7:23am
Quoting Davin
Pres,
Please feel free to be long winded as much as you wish. I Spent close to an hour going through that "long winded post" step by step. Very nice, thorough analysis. Actually opened my mind a bit to a broader spectrum of how the SM thinks.

Thanks for your effort.
Well I hope it did help at least some and didn't confuse or bore anyone too much ...
Today's zone = Tomorrow's opportunity!
  • #20,562
  • May 29, 2011 7:27am May 29, 2011 7:27am
Turns out i've about as much willpower as Pres to stay away from here. Great post by the way, bookmarked!

Reason i came on was to post this weeks video from Todd Krueger. For those that aren't subscribed, make sure you do.

http://clicks.aweber.com/y/ct/?l=DTr...Xncr2aYzt1qUHQ
  • #20,563
  • May 29, 2011 7:51am May 29, 2011 7:51am
Quoting slaphappy
I was goin through the action from this past week just lookin for any setups that were there that could help me identify future setups, and ran across this sequence.

Very long and Im sorry, but im just eager to learn.
The quick answer for me would be the following;

 

  1. You had a down bar into new lows clsoing well off it's lows on high volume with the next bar up... possible selling climax and a SOS (also note that it was unable to close below the days low)
  2. The SC bar from item 1 printed 1hr before London close and after EU had moved 200+ pips up and then 200+ pips down... not much chance that after London close and after a selling climax we were going to go any lower than the low of the SC bar and more likely the close of this bar (chart low trigger level). Shorts were fighting a lot here...

Based on time of day and seeing that SC a short trade was too risky with even a little SOS now in the background and the fact that the SC basically gives a bottom that NY was never going to break on it's own. The logical move is what they have done quite frequently which is to drift it back up after London went home.

Also I never trade UT's as an entry, these need to be confirmed by a downbar next. The only way I would trade an UT as a possible entry is on a weak retrace during a strong downtrend with zero strength in the background. In this case where we have SOS present the ND's and UT's become a little more suspect. As you will see in this example price ranged sideways until London close and then NY drfited it up.

Now for someone who wanted to take a trade here it's safer to consider the SC (yellow line 1) and see if any other SOS are there? Yellow line 2 was a test bar of sorts dipping below but closing above the trigger (SOS as we dipped first found no supply and close on the high well above the trigger). And then I marked 2 red lines showing a 2 bar reversal right into the trigger follow by a high volume test showing buyers (3rd yellow line) and then a hidden test showing another lack of supply (yellow line 4) both into the SC bar trigger giving possible long entries.

Price drifted up 50 or so pips before ranging out sideways to finish the day leading into Asia open which is very commom PA.

It's funny this is the bottom of my 1 min test chart and the 1 min chart shows the SC at the bottom very well.

Oh crap I started the post with here is my quick answer... damn it

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Today's zone = Tomorrow's opportunity!
  • #20,564
  • May 29, 2011 8:00am May 29, 2011 8:00am
Quoting KinsaleForex
Turns out i've about as much willpower as Pres to stay away from here. Great post by the way, bookmarked!

Reason i came on was to post this weeks video from Todd Krueger. For those that aren't subscribed, make sure you do.

http://clicks.aweber.com/y/ct/?l=DTr...Xncr2aYzt1qUHQ
Interesting video... I use volume in a very similar way for tests... I have made a few posts in the past on this where the test volume was not lower than previous 2 bars (so not a basic test) but lower than the bar that created the trigger (whether a high volume trigger or as in the case of the video the swing / market low of this first test bar after the downmove)...
Today's zone = Tomorrow's opportunity!
  • #20,565
  • Edited 11:57am May 29, 2011 11:41am | Edited 11:57am
Quoting KinsaleForex
Turns out i've about as much willpower as Pres to stay away from here. Great post by the way, bookmarked!

http://clicks.aweber.com/y/ct/?l=DTr...Xncr2aYzt1qUHQ
Hi All, thankyou for your great posts and feeds.

I have a question about the tradeguider and FXCM volume feeds (which I use). In the chart shown for the most part volume is paralleled but on the 26th may we get a significant difference between tradeguider and fxcm volume feeds.

I know Pres you use marketscope as your charting software, im just wondering how you deal with discrepencies in volume bewteen the two. Or if I am misreading the scale somehow, or perhaps there is a delay in the levels of volume built in ie it will return to normal next day?

I am showing same TF in silver as per video posted.

Regards
Keep up the great analysis! It is hugely beneficial.
Ady
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  • #20,566
  • Edited 12:01pm May 29, 2011 11:49am | Edited 12:01pm
Quoting ady_babe
I know Pres you use marketscope as your charting software, im just wondering how you deal with discrepencies in volume bewteen the two. Or if I am misreading the scale somehow. Ady
Ady,

I don't use Marketscope... my broker is Tadawul FX. I have some discrepancies but for the most part my volume is fairly close to Kinsale's TG feed (I think he has E-signal feed?)... I have just learned to trade my brokers volume and how to interpret it.

Trade Guider aside (which is not needed to use Esignal feed) short of paying for Esignal and using it with one of the compatible charting programs or brokers you just need to find a reliable broker. I beleive Malc uses MT4 InterBank demo and says it is close to his paid for feeds as they are a big broker with loads of trading behind their feeds.
Today's zone = Tomorrow's opportunity!
  • #20,567
  • May 29, 2011 12:08pm May 29, 2011 12:08pm
Quoting KinsaleForex
Turns out i've about as much willpower as Pres to stay away from here. Great post by the way, bookmarked!

Reason i came on was to post this weeks video from Todd Krueger. For those that aren't subscribed, make sure you do.

http://clicks.aweber.com/y/ct/?l=DTr...Xncr2aYzt1qUHQ
I knew you guys would be back lol

I enjoyed the video but the first part reminded me of this. ( I really tried not to post this here but couldn't stop myself)

Inserted Video
  • #20,568
  • May 29, 2011 12:28pm May 29, 2011 12:28pm
Quoting pres78
The quick answer for me would be the following...
Hey I appreciate the not so quick answer...thank you for taking the time to explain. Im going to scower over the whole thing no matter how long it is.

There was so much that I didnt even consider. I was so locked in on the stopping volume and the sequence after, and it never occurred to me to look to see where we were or when. But this is how I have been trading honestly.

I start my analysis from the highest volume bar or widest spread bar in the recent price action and work my way right. I know this is the way it is done, but I dont take into consideration where the bar/volume is occurring. You guys preach this in this thread and I have not incorporated it.

I understand about ND's in down trends and tests in uptrends. And that is what I was doing here, but if I had zoomed out enough to realize that all this was happening at support I would have been much more sceptical of shorts. I need to respect support/resistance more. I know thats so obvious, but when putting into practice what Ive read here I often leave out very important details. I can't wait for the day when I can view things in the correct context instinctively.

I have been following eu since the middle of April right after the big drop into the 4100s. The huge down move from the 4800s has scewed my view of support I believe. The way it just kind of kept on going made me think that It will just do what ever it wants no matter what. I actually would have been in on that move if I would have left my stop where it was. But I brought it to break even and got stopped out when the news spiked it up. Anyway....

The point is I dont really see how the different sessions interact yet. Will any support/resistance that asia puts in get respected by London? Or is any s/r that London puts in like a brick wall for asia? I'll start watching for this and try to understand it all. Ill stop the rambling for now...I may have you on the long winded thing Pres.

Thank you for the knowledge and making me think.
  • #20,569
  • May 29, 2011 12:37pm May 29, 2011 12:37pm
Quoting pres78
Trade Guider aside (which is not needed to use Esignal feed) short of paying for Esignal and using it with one of the compatible charting programs or brokers you just need to find a reliable broker.
i have been using Broco demo in mt4, seems ok but has some real dodgy volume spikes sometimes and isnt the most reliable of feeds. but its the only one i found that had all the charts i might want (fx, gold, oil, es, ftse, fx futures) and with decent volume.

also with my being uk the broco time is only 1 hour out from uk time so easier for me to work out when something happened without having to calculate time differences!
  • #20,570
  • May 29, 2011 12:42pm May 29, 2011 12:42pm
Quoting pres78
Ady,


Trade Guider aside (which is not needed to use Esignal feed) short of paying for Esignal and using it with one of the compatible charting programs or brokers you just need to find a reliable broker. I beleive Malc uses MT4 InterBank demo and says it is close to his paid for feeds as they are a big broker with loads of trading behind their feeds.
Ok will look into possible other trading platforms. Appreciate the response. I suspect it has something to do with how long it takes to release reliable data, holding period perhaps.

And pardon for the assumption about marketscope.

Cheers
  • #20,571
  • May 29, 2011 12:50pm May 29, 2011 12:50pm
IBFX is the best free volume feed in my area. Weird right?
  • #20,572
  • May 29, 2011 12:56pm May 29, 2011 12:56pm
Quoting pres78
Ady,

I don't use Marketscope... my broker is Tadawul FX. I have some discrepancies but for the most part my volume is fairly close to Kinsale's TG feed (I think he has E-signal feed?)... I have just learned to trade my brokers volume and how to interpret it.

Trade Guider aside (which is not needed to use Esignal feed) short of paying for Esignal and using it with one of the compatible charting programs or brokers you just need to find a reliable broker. I beleive Malc uses MT4 InterBank demo and says it is close to his paid for feeds as they...
And soon i'll make enough each month to cover paying for that feed
  • #20,573
  • May 29, 2011 1:17pm May 29, 2011 1:17pm
Quoting frankkn
I knew you guys would be back lol
What can I say? I missed you guys!

I still won't be around as much, perhaps the end of each trading day instead of during, where i'm prone to miss things.
  • #20,574
  • May 29, 2011 2:43pm May 29, 2011 2:43pm
Quoting frankkn
I knew you guys would be back lol
Trading is a lonely business Frankkn...
Today's zone = Tomorrow's opportunity!
  • #20,575
  • May 29, 2011 4:35pm May 29, 2011 4:35pm
Quoting lolpie
If you wrote your own VSA book it'd outsell both of the Tradeguider ones combined.

Nice work.
That is exactly what I was thinking !



Thank you.



____________
michael
Be like water.
  • #20,576
  • May 29, 2011 5:05pm May 29, 2011 5:05pm
Hi Beljevina

Do you know any demo account which offers real-time 6B and 6E rates?

Thanks

Quoting Beljevina
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...
  • #20,577
  • May 29, 2011 5:33pm May 29, 2011 5:33pm
Quoting KinsaleForex
Turns out i've about as much willpower as Pres to stay away from here. Great post by the way, bookmarked!

Reason i came on was to post this weeks video from Todd Krueger. For those that aren't subscribed, make sure you do.

http://clicks.aweber.com/y/ct/?l=DTr...Xncr2aYzt1qUHQ
Very nice ro have you back KinsaleForex. Where do we subscribe for those videos?
  • #20,578
  • May 29, 2011 6:41pm May 29, 2011 6:41pm
hey fusion...try Broco mt4..i think they have 6E/6B ect. ect.
  • #20,579
  • May 29, 2011 7:30pm May 29, 2011 7:30pm
Quoting msmarple
Hi Ingmar,

your question canīt be answered easily because many traders use an external charting/volume feed and probably execute their trades on another broker. And as you will know any recommendation always has the slight touch of being commerically biased or involved in some sort of Introducing Broker nightmare.....

What I have found out reading this thread :

FXCM seems to have a kind of " generalized " volume of all market makers, so either try their Boston Technologies version of MT4, or subscribe to Ensign Software for 26 USD...
Hi Micheal,

Nice to see you around thanks for your answers.

How is things going along i see you study also a lot of things how long you have been in vsa so far for me it is all new something i want to put in my own trading style first will see.
You using tradeguider yourself or just the mt 4 bettervolume?

Thanks take care Micheal,

Regards Ingmar.
  • #20,580
  • May 30, 2011 2:24am May 30, 2011 2:24am
im seeing lots of weekness on gu. if it breaks the low of those tests we might see a significant down move.
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