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VSA/Wyckoff Simplified

  • #41
  • Aug 23, 2012 5:47am Aug 23, 2012 5:47am
I have read the opinion of one "guru" out there (he does have a pay for site so not sure I want to believe anything he says) claims that your volume indicator on your mt4 chart being worthless is a pure myth. This gentleman claims he worked as chief strategist for a major broker in the U.S. and did an exhaustive 6 month study using access to actual volume or the real amount of funds (not just number of trades being placed) and the volume indicator on your platform and found a 97%+ correlation. His contention was to not let anyone convince you the volume indicator in forex is not an extremely useful tool. Anyhow, I've heard mostly poor recommendations on "forex peace army" (not a particular big fan of these guys either) as to gentleman's actual trading strategies and signals. Thanks for putting up with my babbling, I just thought I'd throw that out there.
Ryan
  • #42
  • Aug 24, 2012 1:00am Aug 24, 2012 1:00am
Subscribed as well. Keep up the good work carramch! If I had one request, it'd be to pls tone down the background color on your charts If I had to look at that bright green all day I think I'd go blind...
  • #43
  • Aug 24, 2012 1:38am Aug 24, 2012 1:38am
I've been away from trading for a couple of years, but am keen to get into it again soon. Too many bad habits learned too early so I packed in for a while!!

Looking to start afresh so I will keep an eye on this thread as I also believe VSA is a great way to trade, once you fully understand it.

Thanks to everyone who has so far contributed to this thread.
  • #44
  • Aug 24, 2012 1:42am Aug 24, 2012 1:42am
Quoting csnowden
Hi all,

I'm working on a VSA indicator to augment with my own trading method. I'll be happy to share the VSA with anybody who is interested. I'm aiming to have a draft ready in the next couple of weeks. The first draft is being designed to expose all of the rules that I'm aware of that make-up VSA e.g. absorption, supply test, etc. The indicator will show what is happening verbatim style candle by candle. I'm aware there is MT4 VSA indicators already in existence but from what I've seen they're not very good or reliable. Over time I see the...
Looking forward to this Chris !
  • #45
  • Aug 24, 2012 3:58am Aug 24, 2012 3:58am
Quoting slipshod
Subscribed as well. Keep up the good work carramch! If I had one request, it'd be to pls tone down the background color on your charts If I had to look at that bright green all day I think I'd go blind...
i wanted to voice out the same thing about the bright green background colour. but i was afraid you'd stop posting.
  • #46
  • Aug 24, 2012 5:34am Aug 24, 2012 5:34am
Haha I don't mind really, if the price of well-informed and helpful posts/charts is looking at the occasional bright green background, I'm prepared to pay it
  • #47
  • Aug 27, 2012 8:22am Aug 27, 2012 8:22am
Quoting slipshod
Subscribed as well. Keep up the good work carramch! If I had one request, it'd be to pls tone down the background color on your charts If I had to look at that bright green all day I think I'd go blind...

lol don't worry, my next chart posts will have a different template.
  • #48
  • Aug 28, 2012 10:25pm Aug 28, 2012 10:25pm
yesterday on GBPUSD as well as AUDUSD/EURUSD the SV-nosupply sequence happened during asian hours. and then SV-nodemand happened at closing of US session.

when i went long at the AUDUSD/EURUSD sv-no supply sequence. someone on stocktwits exclaimed "why would anyone be going long here". markets were up the whole day following that comment.

the picture i attach is GBPUSD and its very messy as it contains my thoughts. but maybe it might help someone. i like to re-explain things in many angles.(which those who get it quickly don't really like).

i added the fibgrid so that it looks more structured. but you are looking for that big surge in volume to come in first. that is the first attention catcher.

and if you like, the drop down in price during asian hours was down into a demand level across all the pairs.

Attached Image (click to enlarge)
Click to Enlarge Name: 120829 worldof nodemand nosupply.jpg Size: 285 KB
  • #49
  • Edited 9:10am Aug 29, 2012 8:50am | Edited 9:10am
No demands appearing(just wait for close to confirm) on 30min timeframe across EURUSD AUDUSD GBPUSD.
Posting this whilst in a crowded bus - remote access to my PC.

edit:oh nvm market just fell out. so no live example. i didn't expect that kind of volatility in the last 5-7mins.
  • #50
  • Aug 29, 2012 11:27pm Aug 29, 2012 11:27pm
finally have the time to post this.
ongoing sv-nosupply sequence in audusd
Attached Image (click to enlarge)
Click to Enlarge Name: 120830 audusd.jpg Size: 213 KB
  • #51
  • Aug 29, 2012 11:31pm Aug 29, 2012 11:31pm
Great charts nico, thanks for posting & looking forward to seeing more of your analyses.
  • #52
  • Edited 2:55am Aug 30, 2012 1:41am | Edited 2:55am
Quoting slipshod
Great charts nico, thanks for posting & looking forward to seeing more of your analyses.
welcome

anyone may feel free to critique it. that i may see something maybe i didn't. and the pre-lo(london open) update.
Attached Image (click to enlarge)
Click to Enlarge Name: 120830 audusd2.jpg Size: 210 KB


edit:the sequence has played out where at one point it could have sold off if SM wanted to. but it didnt as someone else came in. i will post the full sequence tomorrow EOD(leaving the office in about an hour+).
and i promised carramch i wouldn't do play by play analysis anymore hehe.

but it is a very interesting sequence.
  • #53
  • Aug 30, 2012 6:09pm Aug 30, 2012 6:09pm
http://storage1.static.itmages.ru/i/...5f342e1bef.pnghttp://storage8.static.itmages.ru/i/...2e4cb1ff4e.png
Attached File(s)
File Type: rar vsa.rar   19 KB | 1,537 downloads
File Type: rar TradeGuider MT4.rar   657 KB | 2,094 downloads
  • #54
  • Aug 30, 2012 6:43pm Aug 30, 2012 6:43pm
Quoting Fed77
http://storage1.static.itmages.ru/i/...5f342e1bef.pnghttp://storage8.static.itmages.ru/i/...2e4cb1ff4e.png
hi fed. but it doesn't seem the tradeguider signal version is working.i've put the things into the libraries folder too.

thanks very much for sharing these great files.

Attached Image (click to enlarge)
Click to Enlarge Name: 120831 tg.jpg Size: 147 KB
  • #55
  • Aug 30, 2012 7:29pm Aug 30, 2012 7:29pm
Quoting nicoacademia
...i promised carramch i wouldn't do play by play analysis anymore hehe.

but it is a very interesting sequence.
Heh, he doesn't have to open your image My charts tend to be heavily annotated as well...

As a VSA novice (I'm more into chart patterns) I really appreciate what both of you are sharing, am learning a lot.
  • #56
  • Aug 30, 2012 9:24pm Aug 30, 2012 9:24pm
Quoting slipshod
Heh, he doesn't have to open your image My charts tend to be heavily annotated as well...

As a VSA novice (I'm more into chart patterns) I really appreciate what both of you are sharing, am learning a lot.
i guess i promised him so i will keep my promise plus he started this thread too so i will take my dancing que from him.

i am a novice too. and putting my thoughts out here keeps me sharp as well as daily gyrations like yesterday reveal where i lack the knowledge. and i did get punished for not dancing with the market.

but here's how i saw it real time. i like to test my ideas in real time. it should stand up to the test IF it is the truth. i limit myself to the 30min timeframe because i don't want to be tempted by setups i could sell to myself or just 'smoke' or convince myself to take that occur on lower time frames.

most importantly is to respect key price levels. 30mins n glancing at 1hours too helps. i also draw my supply and demand levels to know what to expect.

the audusd during the us session. after the US smart money got their fill pushing price up and selling it down. pushed price through what was supposed to be a support level.(orange colour section).

i put my head/words on the line to say that is a very bearish occurance. i believe in master the markets tom williams talks about this play.

chart as usual is messy because there were so many things going on. i hope the colour helps to isolate that part of the chart and make it readable.

cheers.

Attached Image (click to enlarge)
Click to Enlarge Name: 120831 audusdeod.jpg Size: 259 KB
  • #57
  • Aug 30, 2012 10:06pm Aug 30, 2012 10:06pm
Well, your charts are totally on-topic & extremely informative - I really like the narrative & VSA certainly seems to lend itself to an unfolding story of what the market's doing.

I took that short trade on AU as well, was the only trade I made yesterday as it happens, but my reasoning & entry trigger was very different & I won't derail the thread by going into it here. The markets certainly like to make a pretend push in one direction, especially coming off a temporary supply or demand level, before making the real move the other way & VSA seems as good a method as any for identifying it.
  • #58
  • Aug 30, 2012 10:31pm Aug 30, 2012 10:31pm
this a good threat, why there aren't many of us here?
Is volume 'too simple' ??? C'monnn....
i worshipped... Momentum
  • #59
  • Aug 31, 2012 10:32pm Aug 31, 2012 10:32pm
Thought I'd add my 2 pips worth. Any thoughts/comments welcome as I'm learning here

Edit: I should point out that volume is only reliable if you have a decent ECN broker - I have accounts with 2, IC Markets and Pepperstone & their volume charts are nearly identical. If your broker's a market maker like Oanda or IBFX ... well I've seen charts with wildly different volume readings, so who knows what they're doing. I certainly wouldn't want to trade based on the volume (and sometimes price) that they provide.
Attached Image (click to enlarge)
Click to Enlarge Name: aum30-20120831-analysis.jpg Size: 135 KB
  • #60
  • Sep 1, 2012 12:22pm Sep 1, 2012 12:22pm
no time at the moment to post the analysis but will do it late monday.
all i can say is. the clues were there but in real time my analysis/knowledge is not there yet. but i have learnt and learn as i put myself on the line.
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