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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #57,081
  • Oct 2, 2012 2:41am Oct 2, 2012 2:41am
GM - the fall from the mid Frankies Hour high ~MR 1 started before the poor Spanish unemployment data and brought out buyers as we can see by the three smaller red candles with higher volumes......not IMO any surprise looking back at the very high volumed green hammer a couple of hours earlier.....I bought
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Click to Enlarge Name: oct 2 € 5m 0740 gmt.gif Size: 19 KB
Trading Levels with WRBs
  • #57,082
  • Oct 2, 2012 2:44am Oct 2, 2012 2:44am
Quoting PipTrapper
Look at the M5 chart. We just finished painting an inverted underwear pattern

It is actually a made up name by Rekon67. We like to invent names here
Whilst I didnt need to change my underwear, I have changed my Bermudas for Strides ....

Edit: and being a lagging indicator, I've removed the strides and gone for some flats.....bloody hard work this morning....
Trading Levels with WRBs
  • #57,083
  • Oct 2, 2012 2:45am Oct 2, 2012 2:45am
Quoting Islander
GM - the fall from the mid Frankies Hour high ~MR 1 started before the poor Spanish unemployment data and brought out buyers as we can see by the three smaller red candles with higher volumes......not IMO any surprise looking back at the very high volumed green hammer a couple of hours earlier.....I bought
Interesting, is this VSA? Where would you get out?
Outcome is not important at all, but correct technique is what only matters
  • #57,084
  • Oct 2, 2012 2:54am Oct 2, 2012 2:54am
Quoting Islander
GM - the fall from the mid Frankies Hour high ~MR 1 started before the poor Spanish unemployment data and brought out buyers as we can see by the three smaller red candles with higher volumes......not IMO any surprise looking back at the very high volumed green hammer a couple of hours earlier.....I bought
But isnt volumes always high at: lows/highs, sesion open/closing and in big-ass momentum candles? I would think that if momentum candle is printed without the volume - that means volume is "hiden" in the interbank and retailers doesnt participate in the move..
69
  • #57,085
  • Oct 2, 2012 2:58am Oct 2, 2012 2:58am
Quoting Likerty
But isnt volumes always high at: lows/highs, sesion open/closing and in big-ass momentum candles? I would think that if momentum candle is printed without the volume - that means volume is "hiden" in the interbank and retailers doesnt participate in the move..
Volume on your forex platform is not actual volume but rather the number of price ticks in that particular bar/candle.
So yes, it is significant because it shows how many price changes per candle there were and higher volume on shorter candles is indicative of a battle between the Grizzly and the Angus.
Those who say it cannot be done should not interrupt those who are doing it
  • #57,086
  • Oct 2, 2012 2:59am Oct 2, 2012 2:59am
Quoting szpowerx
Interesting, is this VSA? Where would you get out?

I missed my TP by a pip - it was at the falling trend line from that lower high at MR 1 - so I closed manually for +19 pips.......after a wide ranged day yesterday, I'm expecting a narrow ranged choppy day whilst waiting for tomorrows data.

Yes, this is my way of using Tom Williams's work on VSA
Trading Levels with WRBs
  • #57,087
  • Oct 2, 2012 3:00am Oct 2, 2012 3:00am
Present hour giving me mixed impression. Commodities are bidding negative, whereas Futurs are Up. I am sideline till I get a better Signal.

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  • #57,088
  • Oct 2, 2012 3:01am Oct 2, 2012 3:01am
Quoting PipTrapper
Volume on your forex platform is not actual volume but rather the number ot price ticks in that particular bar/candle.
So yes, it is significant because it shows how many price changes per candle there were and higher volume on shorter candles is indicative of a battle between the Grizzly and the Angus.

which simply imo shows reaction S/R levels which is nothing real special but can be valuable. Might tell you what the market sees as important levels but that is about it. Good to watch on the 5 minute for scalping in and out warning.
  • #57,089
  • Oct 2, 2012 3:04am Oct 2, 2012 3:04am
Quoting TRMZXT
which simply imo shows reaction S/R levels which is nothing special. Might tell you what the market sees as important levels but that is about it.
Yes correct, but it gives you that additional edge when combined with other tools. If nothing else, it at least serves as a great confirmation.
Those who say it cannot be done should not interrupt those who are doing it
  • #57,090
  • Oct 2, 2012 3:05am Oct 2, 2012 3:05am
Quoting Islander
I missed my TP by a pip - it was at the falling trend line from that lower high at MR 1 - so I closed manually for +19 pips.......after a wide ranged day yesterday, I'm expecting a narrow ranged choppy day whilst waiting for tomorrows data.

Yes, this is my way of using Tom Williams's work on VSA

I would assume you would use VSA criteria to exit too.

Great edge of the VSA, thanks for the explanation.
Outcome is not important at all, but correct technique is what only matters
  • #57,091
  • Oct 2, 2012 3:06am Oct 2, 2012 3:06am
Quoting PipTrapper
Yes correct, but it gives you that additional edge when combined with other tools. If nothing else, it at least serves as a great confirmation.

I would agree. It is excellent for scalping.
  • #57,092
  • Oct 2, 2012 3:09am Oct 2, 2012 3:09am
Quoting Likerty
But isnt volumes always high at: lows/highs, sesion open/closing and in big-ass momentum candles? I would think that if momentum candle is printed without the volume - that means volume is "hiden" in the interbank and retailers doesnt participate in the move..
I dont know who participates in the move, but if you put Sonic's indy on a 5m / 15m chart and take a look at its coloured higher volume bars and relate those to the Price Action, intra day levels and candlesticks you may find that you are able to find some useful patterns.....

As PT has said, this is tick volume and both Malcomb14 and Shamus have extensive theads on VSA
Trading Levels with WRBs
  • #57,093
  • Oct 2, 2012 3:28am Oct 2, 2012 3:28am
Quoting rekon67
Present hour giving me mixed impression. Commodities are bidding negative, whereas Futurs are Up. I am sideline till I get a better Signal.

Attachment
yep market is ranging and testing highs and lows. About to see a 1m and it could tell us all we need to know on it's move down.
  • #57,094
  • Oct 2, 2012 3:31am Oct 2, 2012 3:31am
Quoting TRMZXT
I would agree. It is excellent for scalping.
As PT said, "it gives you that additional edge when combined with other tools. If nothing else, it at least serves as a great confirmation."

I try not to be a scalper, but rather an intra-day Swing Trader, taking as much as possible from what Mr Market offers us.....yesterday morning, it was > 70 pips in one trade, so far this morning its ~20 pips a trade....
Trading Levels with WRBs
  • #57,095
  • Oct 2, 2012 3:34am Oct 2, 2012 3:34am
Quoting Islander
As PT said, "it gives you that additional edge when combined with other tools. If nothing else, it at least serves as a great confirmation."

I try not to be a scalper, but rather an intra-day Swing Trader, taking as much as possible from what Mr Market offers us.....yesterday morning, it was > 70 pips in one trade, so far this morning its ~20 pips a trade....

I trade what the market tell me on moves. Long term and possibly 1M 5 or several hours or day. It works best in relation to time based on the rules you put in place for that time frame. I use a 1M MACD with 3 and 9 with also a 27 as even longer term to gauge. Scalping is a relative term.
  • #57,096
  • Oct 2, 2012 3:55am Oct 2, 2012 3:55am
Quoting TRMZXT
yep market is ranging and testing highs and lows. About to see a 1m and it could tell us all we need to know on it's move down.
Range Broken, Primary Target 1.2940.
  • #57,097
  • Oct 2, 2012 4:04am Oct 2, 2012 4:04am
Quoting rekon67
Range Broken, Primary Target 1.2940.
Not much of a break if even m15 failed to close above..
But image looks bulish..
69
  • #57,098
  • Oct 2, 2012 4:05am Oct 2, 2012 4:05am
Market keeps getting easier and easier....+19 in no time..I take a break and return to see rhetoric has not changed....long term views that are never on target and have absolutely nothing to do with daily trading...I LOVE IT!! Just a random jab not intended for everyone..
  • #57,099
  • Oct 2, 2012 4:07am Oct 2, 2012 4:07am
Quoting Likerty
Not much of a break if even m15 failed to close above..
But image looks bulish..
Giving it 3 Hrs and 50 Mins to reach the Target. Slow and Choppy PA.
  • #57,100
  • Oct 2, 2012 4:09am Oct 2, 2012 4:09am
Quoting rekon67
Range Broken, Primary Target 1.2940.
small range yes but only 2 pips over large and quick retreat. We shall see.
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