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  • #1,441
  • Oct 4, 2012 5:13am Oct 4, 2012 5:13am
Quoting rocky
4xfactor, your are correct on all questions except for the comparision values of tick volume and Future (CME) Volume. They are similiar but not the same and definately are not similiar in appearence. Unfortunely I haven't time to explain the difference. Thanks and Good Luck, Rocky...
Ok, Rocky, thanks.

I have been trying to follow some of your analysis recently on AUDUSD where I find big discrepancies between my brokers feed and your charts. And it is not so much volume as actually price, assuming that I am doing things correctly.

I've attached a chart to illustrate the problem.

Any thoughts,

Thanks
Attached Image (click to enlarge)
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  • #1,442
  • Oct 4, 2012 5:32am Oct 4, 2012 5:32am
Quoting 4Xfactor
Ok, Rocky, thanks.

I have been trying to follow some of your analysis recently on AUDUSD where I find big discrepancies between my brokers feed and your charts. And it is not so much volume as actually price, assuming that I am doing things correctly.

I've attached a chart to illustrate the problem.

Any thoughts,

Thanks
The price will be different everytime. He is trading futures while you are in FX. I am trying to keep it simple in explaining because it can get confusing when you do not know. What you can do is get a demo account for futures. I use the same broker and data feed as Rocky. Google Mirus futures and get ninjatrader demo with zenfire as data feed. You will see the same price as he sees.
  • #1,443
  • Edited 6:07am Oct 4, 2012 5:48am | Edited 6:07am
Quoting nawlins51
The price will be different everytime. He is trading futures while you are in FX. I am trying to keep it simple in explaining because it can get confusing when you do not know. What you can do is get a demo account for futures. I use the same broker and data feed as Rocky. Google Mirus futures and get ninjatrader demo with zenfire as data feed. You will see the same price as he sees.
Ok, thanks.

Really appreciate it. I understand that there can be difference in price I just wasn't expecting such a large difference! Hence my confusion as to whether or not I was even looking at the right instrument.

Will look into the other broker options.

Kind Regards,
  • #1,444
  • Oct 4, 2012 2:48pm Oct 4, 2012 2:48pm
Quoting rocky
TraderinSD,

You hit the nail on the head. I couldn't have said it better myself. This is VSA at its core. There is a lot more to it but if you understand this concept then you are on the right track. VSA combined with Supply zones, Demand zones, Fibs (retracements and extensions), trendlines, and proper Money Management can make a retail trader very dangerous.

[color=blue]Now remember, the chart I posted was a tick chart (tick volume). It is somewhat similiar to the volume in Futures (actual contracts...
Hi Rocky,,

Thanks for the conformation. greatly appreciated !!! Could you recommend any additional people, outside yourself, that might add some additional insight into VSA..

Thanks as always

TSD
  • #1,445
  • Oct 5, 2012 8:36am Oct 5, 2012 8:36am
Quoting TraderinSD
Hi Rocky,,

Thanks for the conformation. greatly appreciated !!! Could you recommend any additional people, outside yourself, that might add some additional insight into VSA..

Thanks as always

TSD
malcolmb14,carramch threads and on you tube vsa or tradeguider these are the ones i know of
  • #1,446
  • Oct 5, 2012 9:23am Oct 5, 2012 9:23am
rock was i correct in waiting for a lower vol bar to enter this trade?the first arrow seemed a little high is the second arrow bar the type i am looking for when it gets to zone.
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  • #1,447
  • Oct 5, 2012 10:51am Oct 5, 2012 10:51am
Hi,
This was a short position I opened in few hours ago, with a small amount of stop loss.
The PA and Volume was seem so nice for me to short EU.
Low spread white candle and extremely low green bar for volume.
Do you have any method to avoid this short (before the chocolate horizontal line I drawn)?

Thanks in advance!
Attached Image (click to enlarge)
Click to Enlarge Name: 6E 12-12 (60 Min) 6_10_2012.jpg Size: 114 KB
  • #1,448
  • Edited 11:27am Oct 5, 2012 11:10am | Edited 11:27am
Quoting sparcus
Hi,
This was a short position I opened in few hours ago, with a small amount of stop loss.
The PA and Volume was seem so nice for me to short EU.
Low spread white candle and extremely low green bar for volume.
Do you have any method to avoid this short (before the chocolate horizontal line I drawn)?

Thanks in advance!
Two things come to mind. Firstly the NFP release which you can check on the calendar here:

http://www.forexfactory.com/calendar.php

This tends to be a very volatile announcement, and a generally sluggish day, which usually happens first Friday of every month.

Your trade looks like it was opened shortly before the announcement. Probably best to stand aside if you are a novice. I think even most professional traders will stand aside during this one.

And it might be an idea to stand aside, or protect your trades at least, during all high impact news announcements - trade after the news when conditions have settled down again.

I also think there were Options due to expire, shortly after NFP, today for 1.3050 which may have also played a part.

Hope that helps,
  • #1,449
  • Oct 5, 2012 1:44pm Oct 5, 2012 1:44pm
Attached Image (click to enlarge)
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  • #1,450
  • Oct 5, 2012 3:10pm Oct 5, 2012 3:10pm
Quoting bodine
malcolmb14,carramch threads and on you tube vsa or tradeguider these are the ones i know of
Thanks Bodine.. Will follow up

TSD
  • #1,451
  • Oct 5, 2012 9:37pm Oct 5, 2012 9:37pm
Quoting 4Xfactor
Two things come to mind. Firstly the NFP release which you can check on the calendar here:

http://www.forexfactory.com/calendar.php

This tends to be a very volatile announcement, and a generally sluggish day, which usually happens first Friday of every month.


Hope that helps,
Got it!

Thanks a lot!
  • #1,452
  • Oct 5, 2012 10:53pm Oct 5, 2012 10:53pm
Quoting 4Xfactor
Rocky,

A few simple questions if that's ok?

When you show CAD futures I assume that is CADUSD? My MT4 platform only seems to allow USDCAD, which is the inversion.

Also, when you show AUD Futures I assume this maps to AUDUSD? And that my spot platform should show the same values, tick for tick, as your futures platform?

Kind regards,
omg in which platform is it showing as CADUSD?
are there really so ignorant people creating trading software out there?
I guess you need to go the oposit direction because it would be like totally upside down, if someone in here makes an analysis to go short AUDUSD and you want to follow his or hers advice, you then need to go long USDAUD to go in the same direction as intended, very confusing.
Bulls are stupid Animals!especially when Im short!
  • #1,453
  • Oct 6, 2012 5:08am Oct 6, 2012 5:08am
Quoting roughtrader
omg in which platform is it showing as CADUSD?
are there really so ignorant people creating trading software out there?
I guess you need to go the oposit direction because it would be like totally upside down, if someone in here makes an analysis to go short AUDUSD and you want to follow his or hers advice, you then need to go long USDAUD to go in the same direction as intended, very confusing.
Well here's a pretty ignorant bunch .. call themselves YAHOO :

http://ca.finance.yahoo.com/q?s=CADUSD=X

And then there is CME group ...

http://www.cmegroup.com/trading/fx/g10/canadian-dollar.html

I think it is a difference between Futures and Spot FX for this and a few more symbols e.g. CHFUSD and JPYUSD.

Anyway, the only problem with AUDUSD is the discrepancy in price not the polarity of the symbol.

Regards,
  • #1,454
  • Oct 6, 2012 3:59pm Oct 6, 2012 3:59pm
Quoting sparcus
Hi,
This was a short position I opened in few hours ago, with a small amount of stop loss.
The PA and Volume was seem so nice for me to short EU.
Low spread white candle and extremely low green bar for volume.
Do you have any method to avoid this short (before the chocolate horizontal line I drawn)?

Thanks in advance!
The time also is an issue. You have low volume at that time. Look left on your chart and you can see the drop off in volume across the board. At 7:15am central time I start looking because most of the time 7:30am central time gives you a great trade then again at 8:30am central time. A lot of time 7:30am will bring it to a level for the 8:30am open or by 8:30am it has retraced back to the 7:30am level where it left. I been studying this for a while and its why I am done trading by 10am my time unless its really trending and I am letting a runner well...run. Only other times I would trade is 12pm my time to 2pm. Even Rocky mentions these times are the best.

Here is my chart on how i look at things. I enter using a 5 minute chart and monitor 30 and 60 minute timeframes for my supply and demand zones. Here is my rundown for the Friday US session.

Another thing I like to add is you have to take what Rocky and guys like Ken Lee who trade supply/demand and make it your own. When people try to be exactly as another successful trader and fail, they think its garbage. Its not garbage you must find your way. These people who offer free advice are just a guide to help you along the way. Until novice traders embrace that simple concept they will fail. I have been in and out this thread for a while. Its just starting to click for me and I have been on this journey for a while.

Anyway enough from me here is my m5 chart and how I see the Friday session as it unfolded. Just though I share how I use Rocky's,Ken Lee and Sam Sieden techniques to make me a better trader.
Attached Image (click to enlarge)
Click to Enlarge Name: 6E 12-12 (5 Min) 10_5_2012.jpg Size: 163 KB
  • #1,455
  • Oct 6, 2012 7:26pm Oct 6, 2012 7:26pm
Quoting 4Xfactor
Well here's a pretty ignorant bunch .. call themselves YAHOO :

http://ca.finance.yahoo.com/q?s=CADUSD=X

And then there is CME group ...

http://www.cmegroup.com/trading/fx/g10/canadian-dollar.html

I think it is a difference between Futures and Spot FX for this and a few more symbols e.g. CHFUSD and JPYUSD.

Anyway, the only problem with AUDUSD is the discrepancy in price not the polarity of the symbol.

Regards,
haha what lunatics!! but maybe you are right there is a difference with spot and futures, I never tought CME would be that crazy
a chart would still be upside down I think? can you confirm?
Bulls are stupid Animals!especially when Im short!
  • #1,456
  • Oct 7, 2012 4:33am Oct 7, 2012 4:33am
Quoting roughtrader
haha what lunatics!! but maybe you are right there is a difference with spot and futures, I never tought CME would be that crazy
a chart would still be upside down I think? can you confirm?
Well, upside down with respect to what?

If you look at one of Rocky's CAD Future charts:

http://www.forexfactory.com/showthread.php?p=6058688#post6058688

You can compare it to your own USDCAD chart and see that it is an inversion; but I think this will not be inverted with tick-by-tick precision, because of the difference in price structure between Futures and Spot, which gave me discrepancies in my AUDUSD above.

http://ca.finance.yahoo.com/q?s=CADUSD=X
http://ca.finance.yahoo.com/q?s=USDCAD=X

Regards,
  • #1,457
  • Oct 7, 2012 9:22pm Oct 7, 2012 9:22pm
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  • #1,458
  • Oct 7, 2012 10:04pm Oct 7, 2012 10:04pm
Attached Image (click to enlarge)
Click to Enlarge Name: AUD 10.07 Long 1M #1 Scalp.JPG Size: 106 KB


Took this long (2 MO's w/ 2 lots each) base on:
#1 candle - Clear rejection into the Demand Level. Volume coming was up and candle pattern was clearly being rejected
#2 candle showed little desire to move short.
#3 This has a little preasure behind it ..but not the best..
#4 Good buying coming back in.

We are now off to the races.


Attached Image (click to enlarge)
Click to Enlarge Name: AUD 10.07 Long 1M #2 Scalp.JPG Size: 96 KB


Heading in the desired direction. Would like to see price reach the high level but it will be tough.. We have a drop - base - drop area on we are approaching screen shot #2. We see price reject this area as volume become weak and the candle patterns confirmed the turn around at this level. Exited trade all postions for a TP of 19pips.



Attached Image (click to enlarge)
Click to Enlarge Name: AUD 10.07 Long 1M #3 Scalp.JPG Size: 104 KB


We aee the follow through short from this supply level.
  • #1,459
  • Oct 8, 2012 6:46am Oct 8, 2012 6:46am
Quoting TraderinSD
Attachment

Took this long (2 MO's w/ 2 lots each) base on:
#1 candle - Clear rejection into the Demand Level. Volume coming was up and candle pattern was clearly being rejected
#2 candle showed little desire to move short.
#3 This has a little preasure behind it ..but not the best..
#4 Good buying coming back in.

We are now off to the races.


Attachment

Heading in the desired direction. Would like to see price reach the high level but it will be tough.. We have a drop - base - drop area on we are approaching...
TraderinSD, nice trade.
  • #1,460
  • Oct 8, 2012 6:47am Oct 8, 2012 6:47am
Attached Image (click to enlarge)
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