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vsa with Malcolm

  • #20,901
  • Jun 9, 2011 11:38am Jun 9, 2011 11:38am
Quoting dvarrin
Only to pick an example. Now there is that big volume bar on EURUSD M15 which occured during the news. I marked the close and the high of that bar as trigger levels.

Now I wait for the price to go to that area and I'll look for No Supply or No Demand, but what sshould I look for at each level? should I expect to see ND or NS?

On my side I think we cannot really know and we should wait to see if it will show NS or ND, but in which case do I enter the trade? Even when we see a climactic action, the price could be in a trading range for a while...
You are not ready to trade the news bars. Keep away from them.
  • #20,902
  • Jun 9, 2011 11:39am Jun 9, 2011 11:39am
Quoting Intel
You are not ready to trade the news bars. Keep away from them.
Best post and advice of the day.
Today's zone = Tomorrow's opportunity!
  • #20,903
  • Jun 9, 2011 11:49am Jun 9, 2011 11:49am
Quoting NaughtyPip
Can I ask you a question, how much of master the markets have you read?
I've read it all two times and I refer to it from time to time, but there is something I likely didn't see :-( Why are you asking that? Is there something I shouldn't have asked after reading MTM?
  • #20,904
  • Jun 9, 2011 11:59am Jun 9, 2011 11:59am
Anyone else in the UK? the "Main man" holding tuesday workshops.

http://www.volumespreadanalysis.co.uk/

Seek not to change the world; seek only to change your mind about the world
  • #20,905
  • Jun 9, 2011 12:05pm Jun 9, 2011 12:05pm
Quoting dvarrin
Tradeguider Quarter Channels for MT4

It will draw the quarter lines for all channels on the chart.

After moving a channel, you have to go to the indicator list, choose edit and click ok to refresh the lines.

Enjoy!!
I like it.
Seek not to change the world; seek only to change your mind about the world
  • #20,906
  • Jun 9, 2011 12:09pm Jun 9, 2011 12:09pm
Quoting gez40
I like it.
Ty gez40 :-) I'm happy to receive a positive feedback ;-))
  • #20,907
  • Jun 9, 2011 12:44pm Jun 9, 2011 12:44pm
Can we consider the last bar that pushed through 1.4560 and closed at the bottom and the bar after that which opens and closes well below that to be considered as PUSHING THROUGH RESISTANCE type of action?
Attached Image (click to enlarge)
Click to Enlarge Name: gj-60 min.jpg Size: 191 KB
  • #20,908
  • Jun 9, 2011 12:48pm Jun 9, 2011 12:48pm
A little come back on the quarter channel.

Here is a script version easier to use. Simply double click the script and the equidistant channels will be converted or updated. The only problem is that it finds only 2 channels.
Attached File(s)
File Type: mq4 QuarterChannel_script.mq4   4 KB | 451 downloads
  • #20,909
  • Jun 9, 2011 1:27pm Jun 9, 2011 1:27pm
Blue line: Last weeks high
Purple line: Last weeks close

small black line is the last swing high, right at the start of London and seeing as last weeks high provided some good S/R. This does seem like a good place to put your stop and the SM knows this.

I'd have to agree with others on the fact that if you don't have the stomach/account to trade the news, you probably shouldn't.

I certainly don't.
Attached Image (click to enlarge)
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  • #20,910
  • Jun 9, 2011 1:38pm Jun 9, 2011 1:38pm
Quoting Lowell83
Blue line: Last weeks high
Purple line: Last weeks close

small black line is the last swing high, right at the start of London and seeing as last weeks high provided some good S/R. This does seem like a good place to put your stop and the SM knows this.

I'd have to agree with others on the fact that if you don't have the stomach/account to trade the news, you probably shouldn't.

I certainly don't.
You are right that is exactly where most would have put their stop for a short trade a few pips above that swing high... you are right SM knows this and takes it high enough to wipe out all the shorts and just as importantly suckered in all kinds of traders long seeing that quick upburst thinking "oh shit I'm missing all the long action" which is great as these weak longs are what SM sells into driving price down.
Today's zone = Tomorrow's opportunity!
  • #20,911
  • Jun 9, 2011 1:40pm Jun 9, 2011 1:40pm
hey buddy dont get to down on yourself man...you can do this!!! you just have to back up and get organized ...realize this is gonna take longer than youd probably like it to, but will be worth it in the end!!! what did you learn today??? we are not ready to trade news!!! get your notebook out and write it down...the first thing tomarrow when you come to the charts is look at the calendar, note any news events, and be ready to steer clear!!! this is our first step!!!! tomarrow will talk about step 2!!! have a good day all...best regards, john
  • #20,912
  • Jun 9, 2011 1:49pm Jun 9, 2011 1:49pm
Quoting Trader_X
hey buddy dont get to down on yourself man...you can do this!!! you just have to back up and get organized ...realize this is gonna take longer than youd probably like it to, but will be worth it in the end!!! what did you learn today??? we are not ready to trade news!!! get your notebook out and write it down...the first thing tomarrow when you come to the charts is look at the calendar, note any news events, and be ready to steer clear!!! this is our first step!!!! tomarrow will talk about step 2!!! have a good day all...best regards, john
You're right ;-) I'm longing to talk about step 2 tomorrow ;-)
  • #20,913
  • Jun 9, 2011 1:54pm Jun 9, 2011 1:54pm
Quoting dvarrin
I've read it all two times and I refer to it from time to time, but there is something I likely didn't see :-( Why are you asking that? Is there something I shouldn't have asked after reading MTM?

Well your asking where to look for ND's and NS's which tells me you skimmed through it. Do yourself a favour, take a couple of weeks off posting and put some time into actually reading and understanding instead of looking for some quick fix. Read it many times until it makes sense and falls into place. Then take that knowledge and go back in time through all your charts, studying for a couple of hours each day, drawing trigger levels and looking for the setups that occur, and looking to see when and why price will respect a trigger level and when it wont and using this together with vsa, so you know what to look for as it actually happens in real time.
  • #20,914
  • Jun 9, 2011 2:09pm Jun 9, 2011 2:09pm
Quoting NaughtyPip
Well your asking where to look for ND's and NS's which tells me you skimmed through it. Do yourself a favour, take a couple of weeks off posting and put some time into actually reading and understanding instead of looking for some quick fix. Read it many times until it makes sense and falls into place. Then take that knowledge and go back in time through all your charts, studying for a couple of hours each day, drawing trigger levels and looking for the setups that occur, and looking to see when and why price will respect a trigger level and...
But this is what I'm asking you all: why price will respect a trigger level and when it wont. What do we mean by "respect a trigger level"? If the price is going down on very high volume and the bars shows strength when closing off the low. Then we expect the price to test the close level of that bar. So it should go up, then go back down to that level on low volume. But what do we do if price is going further below the close of that high volume bar on then it rasllies back to the trigger level on no demand. We should not sell because there is strength in the background, but then the price will fall and make new lows.

Or even worse: it will climb above the trigger level, then return back to it and show NS, then we buy, then it goes below the trigger level and shows ND before going down.

What would help me is if somebody could post 2 or more similar charts showing the same weakness or strength and then see why on one chart why price goes in one direction and on the other chart in the other direction.
  • #20,915
  • Jun 9, 2011 2:20pm Jun 9, 2011 2:20pm
Quoting dvarrin
What would help me is if somebody could post 2 or more similar charts showing the same weakness or strength and then see why on one chart why price goes in one direction and on the other chart in the other direction.
I have personally posted dozens of charts on trigger trading. And what you say above makes no sense. You would not have the same strength or same weakness and have one chart go up and the other go down. If the charts "look" the same but go in opposing directions they were not really the same after all... That is the key learning to recognize the true SOS and SOW and when they are relavant. That is why Gavin has his 3 bar sequences... a single SOS or SOW is not enough to take a trade and change a trend. Some of what you describe about price flip flopping a trigger levels sounds like a ranging type of day that happens some times and those are good days to just avoid that pair.
Today's zone = Tomorrow's opportunity!
  • #20,916
  • Jun 9, 2011 2:32pm Jun 9, 2011 2:32pm
Quoting dvarrin
But this is what I'm asking you all: why price will respect a trigger level and when it wont. What do we mean by "respect a trigger level"? If the price is going down on very high volume and the bars shows strength when closing off the low. Then we expect the price to test the close level of that bar. So it should go up, then go back down to that level on low volume. But what do we do if price is going further below the close of that high volume bar on then it rasllies back to the trigger level on no demand. We should not sell because there is...

You need to forget about trigger levels and learn VSA. Only when you have done this can you expect to use VSA with trigger levels.
  • #20,917
  • Jun 9, 2011 2:32pm Jun 9, 2011 2:32pm
Quoting dvarrin
If the price is going down on very high volume and the bars shows strength when closing off the low. Then we expect the price to test the close level of that bar. So it should go up, then go back down to that level on low volume. But what do we do if price is going further below the close of that high volume bar on then it rasllies back to the trigger level on no demand. We should not sell because there is strength in the background, but then the price will fall and make new lows.

If price is going down on high volume and the bar closes off the low, we look to left, are we at an old bottom? Are locked in sellers now covering their old positions? Is this genuine strength or not? We wont know until we see what the next bar does. If its genuine strength it will be a bold bullish bar on good volume. If weakness then it will be a bearish bar. And like all things in forex, its only this clear 10% of the time, the rest of the time requires experience. What I described is called EFFORT VS RESULT - one of the fundamental principles of VSA. Go read MTM.
  • #20,918
  • Jun 9, 2011 2:45pm Jun 9, 2011 2:45pm
we will do it!! ill be here 6am Texas time..
Naughtypip...you are correct sir!!! i think guys like dvarrin and myself need step by step guides to follow...ive read MTM twice my self and theres soooo much information there that its over whelming..so i decided to just stop posting and trading and try to organize some of this mass of information, just as you suggested! it has helped me so much..i wrote down what i needed to do firt , then second, then third and realised theres alot to absorb from the charts before i can even consider looking for an entry(ie trend , background, triggers)...too you experienced guys this just comes natural , its second nature..you look at the chart and you immediately see the story unfolding..trend, background, triggers..all of it in a matter of minutes! ME, i would see a ND and get short!! only to lose and then realise my ND wasnst supported by any other valid information..

DVARRIN..take naughtypips advice , take my advice..stop trading brother..your killing your confindence!!!tomarrow we will cover step 2(as i see it) and hopefully pres, naughty and the other vets here will chime in and correct us as we go along...but mind you ..were a long way off from taking a trade!!! we will post charts and thoughts and let the experts critique but were not gonna trade .....tell yourself that this is gonna take at least a year and in 6 months we can re-evaulate that..but for now 1 year!!! it sounds like a long time but at my age a year goes by so fast and it will be so worth it!!! these guys here that are vsa pros didnt wake up one morning read a couple a post and go "ok , i see it now" and start making money...theyve been around the vsa block more than a couple a times!!! neither of us can expect to trade or even see the way they do at this stage of the game ..the sooner you accept that the closer you'll be!!! but we can do this and we can do it with out annoying the vets with redundant questions!..ill see ya tomarrow ..best regards, john
  • #20,919
  • Jun 9, 2011 2:50pm Jun 9, 2011 2:50pm
Quoting NaughtyPip
If price is going down on high volume and the bar closes off the low, we look to left, are we at an old bottom? Are locked in sellers now covering their old positions? Is this genuine strength or not? We wont know until we see what the next bar does. If its genuine strength it will be a bold bullish bar on good volume. If weakness then it will be a bearish bar. And like all things in forex, its only this clear 10% of the time, the rest of the time requires experience. What I described is called EFFORT VS RESULT - one of the fundamental principles...
THANK YOU NaughtyPip! This is the kind of answers I would like to receive because you are giving me some ideas on the thinking process to apply at high volume areas :-)))
  • #20,920
  • Jun 9, 2011 2:54pm Jun 9, 2011 2:54pm
well said intel and naughty....dvarrin these guys told me the same thing and i finally got it into my head..i wasnt ready to take on that advanced level of vsa until all the basics were mastered...forget triggers partner, were no where near that stuff yet! im right there with though,im just starting out too...listen to these guys! stop, back up and lets reorganize ..you and i can do this together, step by step if you like..regards, john
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