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vsa with Malcolm

  • #22,721
  • Feb 19, 2012 6:23pm Feb 19, 2012 6:23pm
Quoting pres78
UT = upbar
Hidden UT = downbar
Thanks for this one too! :-)
  • #22,722
  • Feb 19, 2012 6:27pm Feb 19, 2012 6:27pm
Quoting bayfisherman
any thoughts here from the vsa pros...
Yes, the daily view is interesting. And the news are still bad. Maybe they are seeing that the news will become better soon and propel the price high.
Now, with this UH volume bar, we have to wait for tests and shake outs, and the price action after that, in the near future.

Cheers!
  • #22,723
  • Feb 19, 2012 6:36pm Feb 19, 2012 6:36pm
Quoting rCrumb
Guys,

I've been studying my VSA signals and I keep coming back to testing. I just don't understand testing. Lets say we have a down move that ends with stopping volume and moves into a sideways range. Now price moves back down into the area of the original stopping volume and we have a low volume test on an up bar. How is this an indication of strength?

In my mind it seems like we would want medium or high volume. Lower prices attracts buyerss and we want to know that the buyers are present. Smart money doesn't have sell orders down there,...
Hi rCrumb!
I see that many are already contributing with your question. I don't know if I will be repetitive here but would like to put a bit from me as well, if you allow for it!

A test should be in a context of clear accumulation in the background.
If the SM is accumulating, then they are preparing to mark the price up. They want to make sure there will be only small or none resistance in front of them.
Also, they want to accumulate as much as they can in lower prices.
So, a test works for these 2 objectives: to put the weak holders out and to see if there is any business still left to be done(if there is something left to be bought).
They do it by selling a small amount of shares and see if it find support or not. If the price slip further with low volume, it means the market is still weak. If the price bounces back, means that there was buying interest there of lack on interest in selling(which represents low inventory out there to be bought).

I read in the book about Livermore that he used to do that in a stock to see if it was weak or not. In his test, he says literally that he was "testing the stock, selling small amounts of shares", to see if there was support on it.
Also interesting in his story, is that he was actually in A stock but was testing its sister stock, B.

Sorry if it is confusing you more than clarifying! :-)

Cheers!
  • #22,724
  • Feb 19, 2012 10:46pm Feb 19, 2012 10:46pm
okay now's it's -whatever- pushing through supply, shakeout, tested, bla bla bla.
now go long herd!!!!
Hesitate? lagging moving average now in christmas mode?
Now give me endless excuse of having losing and winning one.
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  • #22,725
  • Feb 20, 2012 1:30am Feb 20, 2012 1:30am
looking for a long entry on EU after i see some strength come in on a short term pull back. i think the large volume we saw last week pushing up through supply locking in shorts is going to bring even more pain soon (echoing the words of sonofsin)
Be greedy when others are fearful, and fearful when others are greedy.
  • #22,726
  • Feb 20, 2012 1:50am Feb 20, 2012 1:50am
I am tracking EURAUD ( part of EUR currency ) & it seems EUR is trying to establish a new Market Profile for this week

http://i42.tinypic.com/25po4f5.png

Flower ( Indicator a cutomised RENKO Chart, middle one ) is however indicating EUR is reaching & might breach resitance level of 200 on the upside.

Guess EURAUD might go till Friday high & comedown. Let's see!!
  • #22,727
  • Feb 20, 2012 1:53am Feb 20, 2012 1:53am
Quoting Probo
okay now's it's -whatever- pushing through supply, shakeout, tested, bla bla bla.
now go long herd!!!!
Hesitate? lagging moving average now in christmas mode?
Now give me endless excuse of having losing and winning one.
I'm very sorry to hear that vsa isn't working for you. I'm also sorry that you had to spend some money to purchase TG. If you would've read this thread, you would've known that you don't really need TG to trade forex using vsa. Many of TG owners here don't use it anymore. You just have to spend some time learning (if you really, really, really want to trade forex using vsa). Nothing comes easy, you should know that (remember the statistics - there are 90% losers in forex or in any other market).

You are so certain that volume doesn't show anything in forex. Nothing new really, you are not the first and will not be the last . But who orders you to use vsa, you don't have to, there are thousands of other methods and systems. Please, go find your own and become a millionaire. And after you became one, don't forget me, who gave you that good advice and donate some of your millions to me
  • #22,728
  • Feb 20, 2012 2:28am Feb 20, 2012 2:28am
Quoting upthrust
looking for a long entry on EU after i see some strength come in on a short term pull back. i think the large volume we saw last week pushing up through supply locking in shorts is going to bring even more pain soon (echoing the words of sonofsin)
entered long at 3192. not the best level, but couldnt wait any longer
Be greedy when others are fearful, and fearful when others are greedy.
  • #22,729
  • Feb 20, 2012 4:33am Feb 20, 2012 4:33am
Quoting upthrust
entered long at 3192. not the best level, but couldnt wait any longer
Does the gap up on low volume not concern you?

Thoughts on what this is?
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Seek not to change the world; seek only to change your mind about the world
  • #22,730
  • Feb 20, 2012 4:45am Feb 20, 2012 4:45am
Quoting rCrumb
Guys,

I've been studying my VSA signals and I keep coming back to testing. I just don't understand testing. Lets say we have a down move that ends with stopping volume and moves into a sideways range. Now price moves back down into the area of the original stopping volume and we have a low volume test on an up bar. How is this an indication of strength?

In my mind it seems like we would want medium or high volume. Lower prices attracts buyerss and we want to know that the buyers are present. Smart money doesn't have sell orders down...
High volume tests indicates supply is still present and needs to be absorbed before higher prices can be achieved, a low volume test shows supply has gone and higher prices can be expected.

The idea of a test is simply to find supply in the market, the volume will show this.
Seek not to change the world; seek only to change your mind about the world
  • #22,731
  • Feb 20, 2012 4:50am Feb 20, 2012 4:50am
Quoting Probo
it's because there's no such thing as the so-called clever monkey testing this, testing that. what's the probability of having lower volume than 2 bars behind in a day, in 15/30/60 timeframe, out of randomness? it's huge! Do you know that it's just some guy seeing something common and put logic in it, hoping other will think the same, thus selling product in the end?

market comprises of full range of interest: dealer, exporter, importer, trader, you name it. Complexity: market time, fundamental, orders, etc.
Yet you naked-trading volume? be...
I think you`re being a bit naive to think the market...any market, is random, 4 trillion dollars a day is traded on the currency market alone, you really think that amount of money is being risked on guessing?
Seek not to change the world; seek only to change your mind about the world
  • #22,732
  • Feb 20, 2012 5:54am Feb 20, 2012 5:54am
Quoting gez40
Does the gap up on low volume not concern you?

Thoughts on what this is?
i dont see that gap up in my data feed. esignal not showing that gap which looks to be on the open?
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Be greedy when others are fearful, and fearful when others are greedy.
  • #22,733
  • Feb 20, 2012 6:19am Feb 20, 2012 6:19am
Quoting upthrust
i dont see that gap up in my data feed. esignal not showing that gap which looks to be on the open?
eSignal never showed a gap when I used it, it always used to open "earlier" at around 6 / 6:30pm UK time I believe. The first data I have on Sierra charts is at 8pm.
  • #22,734
  • Feb 20, 2012 7:06am Feb 20, 2012 7:06am
Quoting upthrust
entered long at 3192. not the best level, but couldnt wait any longer
closed at 3268 for 76 pips. saw some volume come in on the up move. may look to buy below 3250
Be greedy when others are fearful, and fearful when others are greedy.
  • #22,735
  • Feb 20, 2012 8:55am Feb 20, 2012 8:55am
Quoting upthrust
closed at 3268 for 76 pips. saw some volume come in on the up move. may look to buy below 3250
mark down on high volume on the EU short TFs, entered long under 3250. currently 10 mins before EU minister meet.

hoping for some good news out of europe, with a mark up above 3300 and then 3321 to start knocking out the rest of the shorts. from there, away we go!
Be greedy when others are fearful, and fearful when others are greedy.
  • #22,736
  • Feb 20, 2012 9:10am Feb 20, 2012 9:10am
Quoting upthrust
closed at 3268 for 76 pips. saw some volume come in on the up move. may look to buy below 3250
You posted that trade before it happened as well, foresight not hindsight.

Nice one mate.
Seek not to change the world; seek only to change your mind about the world
  • #22,737
  • Feb 20, 2012 9:17am Feb 20, 2012 9:17am
Quoting upthrust
mark down on high volume on the EU short TFs, entered long under 3250. currently 10 mins before EU minister meet.

hoping for some good news out of europe, with a mark up above 3300 and then 3321 to start knocking out the rest of the shorts. from there, away we go!
Where did you read about EU meeting today? The only EU meetings I can see are the ECOFIN meetings scheduled for tommorow?

Also with US bank holiday today seeing above 3300 could be tough... guess we could get one of those famous low liquity afternoon drifts up.
Today's zone = Tomorrow's opportunity!
  • #22,738
  • Feb 20, 2012 9:19am Feb 20, 2012 9:19am
Quoting gez40
You posted that trade before it happened as well, foresight not hindsight.

Nice one mate.
Entering long at a "pre-called" level just because we saw some volume on a downbar and hope for a news driven push up doesn't make a good long trade. What was the VSA set-up or was it based on something else?
Today's zone = Tomorrow's opportunity!
  • #22,739
  • Feb 20, 2012 9:23am Feb 20, 2012 9:23am
Quoting pres78
Where did you read about EU meeting today? The only EU meetings I can see are the ECOFIN meetings scheduled for tommorow?

Also with US bank holiday today seeing above 3300 could be tough... guess we could get one of those famous low liquity afternoon drifts up.
there is some meeting today at 1300 gmt. prob just going to agree to have another meeting in a few days time!

agree with the low liquidity today.
Be greedy when others are fearful, and fearful when others are greedy.
  • #22,740
  • Feb 20, 2012 9:30am Feb 20, 2012 9:30am
Quoting pres78
Entering long at a "pre-called" level just because we saw some volume on a downbar and hope for a news driven push up doesn't make a good long trade. What was the VSA set-up or was it based on something else?
i'm looking at the high vol down bar on the EU 5m in the last 30 mins. the next two bars, are lower volumes and lower spreads. it got as low as 3237, which incidentally, is the high from the morning. we are obviously in a mid term uptrend, which reinforces my bullish view.
Be greedy when others are fearful, and fearful when others are greedy.
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