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vsa with Malcolm

  • #21,721
  • Sep 21, 2011 10:56am Sep 21, 2011 10:56am
BTW, "supply line" is AKA "AR" (Wyckoff). "Push" is AKA "effort to rise". "Low volume test" AKA "no supply."
  • #21,722
  • Sep 21, 2011 10:58am Sep 21, 2011 10:58am
Quoting Clifton
So yeah..
V nice Clifton. Nice to see you contributing here again. Not sure about your Supply zone tho. I have mine in the 3680 area. Try drawing a line there and pan out a bit. See what you think.
  • #21,723
  • Sep 21, 2011 11:00am Sep 21, 2011 11:00am
Quoting Intel
V nice Clifton. Nice to see you contributing here again. Not sure about your Supply zone tho. I have mine in the 3680 area. Try drawing a line there and pan out a bit. See what you think.
There was a nice NS from above into that area also. Did you get in long Intel?
Today's zone = Tomorrow's opportunity!
  • #21,724
  • Sep 21, 2011 11:01am Sep 21, 2011 11:01am
Quoting pres78
Yeah I wasn't in the right mindset... closed out already for a small loss at 3705. Looks like they have removed the 3700-3720 supply that was present. Seems like they are ready for a possible push through. A test from above into 3720ish would be a nice long.
Poss short setup forming.
  • #21,725
  • Sep 21, 2011 11:18am Sep 21, 2011 11:18am
Quoting Intel
V nice Clifton. Nice to see you contributing here again. Not sure about your Supply zone tho. I have mine in the 3680 area. Try drawing a line there and pan out a bit. See what you think.
Yes, 1.3680 showed supply, no doubt. Looks like it was absorbed too.

The supply line I'm referring to in this case is this. When there is stopping volume on a down move, I look for the first level of resistance to setup, known as the "automatic rally" point in Wyckoff teachings.

I comprehend it as this..once the strength appeared (stopping volume), the first level of resistance that shows up is an area where those willing to sell are selling enough to stop the up move...supply. So this becomes a key level for me. Once I see a close above it, NS entries.

Kudos to you if you were able to fore see that 80 level supply. Still holding on to some of this trade up 70 pips. Talk of shorting in here today, maybe I'm lucky but I just didn't see any reason to look for shorts..besides maybe that upthrust, but background is accumulation today.
  • #21,726
  • Sep 21, 2011 11:30am Sep 21, 2011 11:30am
Anyone catch the EU M1 entry?
  • #21,727
  • Sep 21, 2011 11:32am Sep 21, 2011 11:32am
Keep your eye open for M5 NDs
  • #21,728
  • Sep 21, 2011 11:35am Sep 21, 2011 11:35am
What do you guys think?
  • #21,729
  • Sep 21, 2011 11:41am Sep 21, 2011 11:41am
Quoting Intel
What do you guys think?
If it's an upthrust on very high volume, I'd consider it.
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  • #21,730
  • Sep 21, 2011 11:50am Sep 21, 2011 11:50am
OK I'm in off the M5 ND. SL set just above the M15 UT
  • #21,731
  • Sep 21, 2011 12:00pm Sep 21, 2011 12:00pm
Quoting Beljevina
I've been watching ES come down with a little surprise. I think the European indexes and markets tanking was a unexpected for the NY crowd. Given Benny not being one to disappoint, I am thinking the S&P lows are in (maybe to 1184 still?) and then we head back up fairly quickly as 2pm NY approaches, as a rally of anticipation, and then perhaps a further move up to 1230? Regardless, 1198 is a high volume area that we should revisit. On my volume ladders, I did not see huge selling on the way down, so this move is not completely convincing.
I see you have CD on your chart. Do you actively use it?

If you drilled down to 3/5min there were several places to enter short with VSA
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  • #21,732
  • Sep 21, 2011 12:00pm Sep 21, 2011 12:00pm
Short on Oil 5 min ND at 87.15, closed lot 1 for 20, lot 2 moved to BE.
Today's zone = Tomorrow's opportunity!
  • #21,733
  • Sep 21, 2011 12:02pm Sep 21, 2011 12:02pm
Very strange prints in too many instruments today - but that's how they like do do it, don't they. EU making it's way to new highs at +120 pips ATR, while ES struggles into the week's lows, not gaining much from Benny anticipation. Gold is confused, getting back to the day's open, and oil up on who knows what, seeing distribution since the rise. (Which could be a bull flag, come Benny/FOMC time)

It will be interesting to see the immediate swings, which could then well change/reverse within an hour, and then where the USD and markets go within 24hours could be completely different. Be careful with any trades - it will be very whippy and potentially costly.


Quoting Lowell83
I see you have CD on your chart. Do you actively use it?
Not really - I haven't found a use for it, other than the tick recording it provides for. I took a few ES shorts, but have really only been scalping so far. Was looking for a long entry I could keep, but they are making it dangerous.
  • #21,734
  • Sep 21, 2011 12:03pm Sep 21, 2011 12:03pm
It's a bit smelly so I'm out
  • #21,735
  • Sep 21, 2011 12:06pm Sep 21, 2011 12:06pm
Quoting Intel
It's a bit smelly so I'm out
ooooo just in the nick of time!!!!!!!
  • #21,736
  • Sep 21, 2011 12:06pm Sep 21, 2011 12:06pm
Quoting Intel
OK I'm in off the M5 ND. SL set just above the M15 UT
Don't take my posts as an attempt to be all knowing, I'm just sharing my views. (had to say that..in a place like this lol) I wouldn't interpret that as a no demand due to the price area.
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  • #21,737
  • Sep 21, 2011 12:07pm Sep 21, 2011 12:07pm
Quoting Intel
ooooo just in the nick of time!!!!!!!
Absorbing supply today..carefull, carefull.
  • #21,738
  • Sep 21, 2011 12:07pm Sep 21, 2011 12:07pm
EU earlier strength is playing out.
  • #21,739
  • Sep 21, 2011 12:15pm Sep 21, 2011 12:15pm
Quoting Clifton
Don't interpret my posts as an attempt to be all knowing, I'm just sharing my views. (had to say that..in a place like this lol) I wouldn't interpret that as a no demand due to the price area.
It's one of the draw backs of cross TF setups, they don't always work. But, you very often (like in this case) get such a good entry, that it's worth it.

Interestingly, had I waited for the complete setup on the M15 chart, I wouldn't have entered because it didn't materialise.

BTW You and anyone else who cares to do so, are welcome to question my posts and dissagree with my analysis. Thats how we improve.
  • #21,740
  • Sep 21, 2011 12:44pm Sep 21, 2011 12:44pm
nice going

weekend gap filled. Sitting on my hand waiting for fomc
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