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vsa with Malcolm

  • #21,821
  • Sep 26, 2011 8:55am Sep 26, 2011 8:55am
20 traders viewing, 8 are members, 0 charts and 0 discussion...

Why did this thread die once already? Anyone? Can anyone remind me?
Today's zone = Tomorrow's opportunity!
  • #21,822
  • Sep 26, 2011 9:01am Sep 26, 2011 9:01am
haha, sorry dude. was just following your posts. i'm short eu 3498, aud 9800, nzd 7769.

it looked like a classic move before the NY open.

i think if we break 3400 on eu, we could see 3300
Be greedy when others are fearful, and fearful when others are greedy.
  • #21,823
  • Sep 26, 2011 9:06am Sep 26, 2011 9:06am
Quoting pres78
Oil short at 79.30...

ES short 1137.50...
Added an ES short at 1131

Could've added an EU short at 3460 but I missed it, also at 3440 but I missed it also...
Today's zone = Tomorrow's opportunity!
  • #21,824
  • Sep 26, 2011 9:13am Sep 26, 2011 9:13am
Quoting pres78
EU, Oil and ES are all looking at bit weak up at their daily highs...

EU is back at an important level of 3500 (also 3490 which was 9.12.2011 low and bounce which was just taken out last week. Attempts and ultimate failure if it occurs at this level opens the doors to revisit this years lows.
I guess VSA works... who would've know
Today's zone = Tomorrow's opportunity!
  • #21,825
  • Sep 26, 2011 9:22am Sep 26, 2011 9:22am
Quoting upthrust
haha, sorry dude. was just following your posts. i'm short eu 3498, aud 9800, nzd 7769.

it looked like a classic move before the NY open.

i think if we break 3400 on eu, we could see 3300
Well at least someone else is trading...

I am looking for EU to get to more like 2900 before the end of the year... right back where we started... Unless we start to see some real demand coming in sometime soon...
Today's zone = Tomorrow's opportunity!
  • #21,826
  • Sep 26, 2011 9:26am Sep 26, 2011 9:26am
Well isn't that funny and convienient... EU, Oil and ES are all back down into previous demand zones... All arrived at the same time after drops from their daily high. Price manipulation at it's best.
Today's zone = Tomorrow's opportunity!
  • #21,827
  • Sep 26, 2011 9:30am Sep 26, 2011 9:30am
ES found its (temporary) bottom. Its high vol so there are still sellers present. If this was retested on low vol, or I saw a test in a rising market I'd take a small long - but overall I'm mainly looking for shorts.

A rejection of 1132 or even 1135 (low of HVB from today) would be nice.
Attached Image (click to enlarge)
Click to Enlarge Name: ES 5M 260911v4.jpg Size: 198 KB
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  • #21,828
  • Sep 26, 2011 9:49am Sep 26, 2011 9:49am
Quoting Steve Gill
A rejection of 1132 or even 1135 (low of HVB from today) would be nice.
I got my rejection of 1132 (just below) - interestingly the 2nd bounce off 1124 is on lower vol than the 1st time but not exactly test material. I had a look down at the 1M chart and there is definitely still supply.

A test in a rising market would still have me in a small long though. Not convinced I'm going to get it.
Blogging daily now at www.volume.zone
  • #21,829
  • Sep 26, 2011 9:55am Sep 26, 2011 9:55am
EU just printed a nice NS in a rising market with entry at 3470 after that 3410 support (big surprise that we bounced there) but it was too close to the upper supply zone bottom at 3485 for my liking...

There was also a nice 2 bar reversal that would have given entry at 3455 which I would have taken but I missed it.
Today's zone = Tomorrow's opportunity!
  • #21,830
  • Sep 26, 2011 10:02am Sep 26, 2011 10:02am
Looking at the 1 hour on the EU, just had a high volume test. I guess we bounce around 34 and 3550 for a while longer..
  • #21,831
  • Sep 26, 2011 10:04am Sep 26, 2011 10:04am
Trying an EU long at 3475 after SOS seem to be taking control... Not worried about 3485 as much as there seems to be enough interest to push back into the supply zone.

Also Oil long 79.25 and ES long at 1132.50
Today's zone = Tomorrow's opportunity!
  • #21,832
  • Sep 26, 2011 10:07am Sep 26, 2011 10:07am
Quoting pres78
Trying an EU long at 3475 after SOS seem to be taking control...

Also Oil long 79.25 and ES long at 1132.50
Just a thought, does it make sense to somewhat discount higher volume if the bar shows a lot of strength on a test?
  • #21,833
  • Edited 10:30am Sep 26, 2011 10:10am | Edited 10:30am
Oil,

2bar reversal, looking for 80 to exit position.

1st bar ultra high volume, you can see that it has bigger volume than the previous bar which spread is almost 3 times the down bar that gives us a clue that something is going on...

2nd bar made lower low and a higher high making it a bullish engulfing with volume lower than the previous down bar.
Attached Image (click to enlarge)
Click to Enlarge Name: oil 2 bar.jpg Size: 106 KB
Trade Smart
  • #21,834
  • Sep 26, 2011 10:11am Sep 26, 2011 10:11am
Quoting neutral
Just a thought, does it make sense to somewhat discount higher volume if the bar shows a lot of strength on a test?
Not to speak for others but there are some that I have spoken with who prefer higher volume test... some will only trade the basic low volume tests. I trade all types of tests based on how they close and where the print on the chart.
Today's zone = Tomorrow's opportunity!
  • #21,835
  • Sep 26, 2011 10:14am Sep 26, 2011 10:14am
Quoting Osman
Oil,

2bar reversal, looking for 80 to exit position.

1st bar ultra high volume you can see that it ha bigger volume than the previous bar which spread is almost 3 times the down bar that gives us a clue that something is going on...

2nd bar made lower low and a higher high making it a bullish engulfing with volume lower than the previous up bar.
Nice trade and all closed out I presume? We hit 79.99 on my chart so I hope you were ready to close. Pshyc levels like 80 are rough targets... should always set a bit lower for a long trade IMHO.
Today's zone = Tomorrow's opportunity!
  • #21,836
  • Sep 26, 2011 10:17am Sep 26, 2011 10:17am
Quoting pres78
Not to speak for others but there are some that I have spoken with who prefer higher volume test... some will only trade the basic low volume tests. I trade all types of tests based on how they close and where the print on the chart.
I wonder what their reasoning is? Trading all types of tests makes sense to me. My thought process here being that you can somewhat discount the amount of selling on a high volume test the higher the bar closes. Ie the more up a bar closes the more buying we must have witnessed vs. selling.
  • #21,837
  • Sep 26, 2011 10:18am Sep 26, 2011 10:18am
Quoting pres78
Nice trade and all closed out I presume? We hit 79.99 on my chart so I hope you were ready to close. Pshyc levels like 80 are rough targets... should always set a bit lower for a long trade IMHO.

Everything closed, in my feed it went till 80.07 but its an advice to have in mind.. have missed few TP's by 1-2 pips due to the pshyc/round numbers.

Thx Pres.
Trade Smart
  • #21,838
  • Sep 26, 2011 10:19am Sep 26, 2011 10:19am
Quoting neutral
I wonder what their reasoning is? Trading all types of tests makes sense to me. My thought process here being that you can somewhat discount the amount of selling on a high volume test the higher the bar closes. Ie the more up a bar closes the more buying we must have witnessed vs. selling.
To each his own... I know a trader who mainly trades SO and UT's... VSA works in many, many ways and it's up to us as traders to develop a trading plan that works for us and stick to it.
Today's zone = Tomorrow's opportunity!
  • #21,839
  • Sep 26, 2011 10:45am Sep 26, 2011 10:45am
Oil 5min chart printed a series of NS, 2BR and hidden tests right along the top of the DPV at 79.75... the last hidden test gave a nice long entry at 80.00 with initial targets at the supply zone of 80.20, 80.30 and 80.40 all of which have been hit.

Once price finally takes off in Oil after a period of ranging / consolidation it moves quickly and in bursts.

I am still long from early 79.25 trade but missed all of the above added entries...
Today's zone = Tomorrow's opportunity!
  • #21,840
  • Sep 26, 2011 10:47am Sep 26, 2011 10:47am
Went long on ES at 1137.50 after a test in a rising market off the top of a trigger bar. Stop now moved to B/E (see attached chart).
Attached Image (click to enlarge)
Click to Enlarge Name: 6638022.jpg Size: 193 KB
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