vsa with Malcolm | Page 1215 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

VSA-divergence trading 187 replies

How to Blow $200 account using VSA--- 594 replies

VSA Journal 57 replies

VSA broker history change datas 11 replies

Attachments: vsa with Malcolm
Exit Attachments

vsa with Malcolm

  • #24,281
  • May 17, 2013 12:43pm May 17, 2013 12:43pm
Quoting pres78
Well after rouhgly 11.5 weeks since I walked away from trading for personal reasons on my 35th B-Day (Feb 26th) I have taken my first trade again. It was a short on EU. I wasn't going to bother posting about it but I figured why not... The last two daily bars have been effort to fall into the high of a daily zone (yellow fib) from Nov 7, 2012 (yes that date is not a typo) with yesterday being somewhat of an indecision pin bar. What I liked the most about this trade is that the low of yesterday's 1 hour zone (green fib) was right on the high of that...
I hope you find time to post more too :]
Yes, I do enjoy eating bananas. Very much.
  • #24,282
  • May 17, 2013 12:52pm May 17, 2013 12:52pm
Quoting pres78
{quote} mima,... Hope this answers your questions.
Yes, Thank you.
The Market pays you to be disciplined
  • #24,283
  • May 17, 2013 3:52pm May 17, 2013 3:52pm
I put Jason's (Pres78) Fib Zones on UHV bars and watch the ensuing Price Action. Very helpful when I'm trying to ID potential Trend Change.

Actually, they work nice for ID'ing trend continuation as well.
  • #24,284
  • May 17, 2013 4:22pm May 17, 2013 4:22pm
Here is my Thursday trade on EU that I closed on Friday at 2812 for 85 pips. The trend for the week is down, so I'm waiting for short opps. Five marked bars are as follows:

1. Previous lows taken out on good volume
- No strong signs of buying or trend change follow
2. HV Up bar, breaking above 2900 (the light blue line)
- Next three bars are down or doji - No follow-through buying
3. UT, closing in the lower half on HV - Most likely sellers, but wait for confirmation
4. Somewhat HV up bar, but closes below bar #3's high
5. Confirmation that Bars 3 & 4 were selling.

I entered on the next bar and waited until today. Closed when 2800 proved to be adequate support for the time being.
Attached Image (click to enlarge)
Click to Enlarge Name: EU.jpg Size: 186 KB
  • #24,285
  • May 17, 2013 8:25pm May 17, 2013 8:25pm
Quoting MarcusFire
Here is my Thursday trade on EU that I closed on Friday at 2812 for 85 pips. The trend for the week is down, so I'm waiting for short opps. Five marked bars are as follows: 1. Previous lows taken out on good volume - No strong signs of buying or trend change follow 2. HV Up bar, breaking above 2900 (the light blue line) - Next three bars are down or doji - No follow-through buying 3. UT, closing in the lower half on HV - Most likely sellers, but wait for confirmation 4. Somewhat HV up bar, but closes below bar #3's high 5. Confirmation that Bars...
Nice trade, but would you not wait for a retracement?

----- [EURJPY 30M]

I was checking out what price did when I was asleep.. and I noticed these.

Volume was steadily decreasing after the up move.

1st yellow line - lack of demand near supply zone [to the left, initial drop]
2nd yellow line - lack of demand once again.. Retailers were trying to push price up without support of SM's [long lower wick and close near high].
3rd yellow line - entered on retracement to drop zone at pink line.

However, the more ideal trade, in my personal opinion, is below..

1st gray line - still lack of buying interest, despite big up bar.
2nd gray line - lack of buying interest after hitting drop zone from yellow line areas. Place pending sell below.

^^ Just thought I'd share my observation.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym30.png Size: 41 KB
Yes, I do enjoy eating bananas. Very much.
  • #24,286
  • May 18, 2013 9:38pm May 18, 2013 9:38pm
Quoting ieatbanana
{quote} Nice trade, but would you not wait for a retracement?
I did. The trend for the week is down. This is the retracement, and sellers are hitting the up move. I took a position when the selling was confirmed.

Are you asking why I didn't wait for the next little up move to sell? How could I know exactly when that was coming, or exactly how far it was going? This entry met my criteria as I explained above. So did my close.
  • #24,287
  • May 19, 2013 12:25am May 19, 2013 12:25am
Quoting MarcusFire
{quote} I did. The trend for the week is down. This is the retracement, and sellers are hitting the up move. I took a position when the selling was confirmed. Are you asking why I didn't wait for the next little up move to sell? How could I know exactly when that was coming, or exactly how far it was going? This entry met my criteria as I explained above. So did my close.
I apologize if it appeared that I am criticizing your trade. I was not. You are justified in your own way to trade however you want and with what you see. I am just providing my own observation.

And if you prefer me not to comment on future posts, I won't.

Like you, I would not know whether price would instantly reverse, or retrace, after that move down. I do not know of your risk tolerance, but the down bar was about 40+ pips, so if you were to put a stop loss above the bar, it'll be about about the same.

Price could had bounce back up, who knows, but if it does, I would wish for you not to have such a big stop loss [by my humble opinion] in the worst case scenario that it did.

Once again, I'm not telling you how to trade.
Yes, I do enjoy eating bananas. Very much.
  • #24,288
  • May 19, 2013 4:25am May 19, 2013 4:25am
Quoting ieatbanana
{quote} Nice trade, but would you not wait for a retracement? ----- [EURJPY 30M] ....{image}

He was talking about EURUSD M15 and you are commenting his trade on EURJPY M30. Am I missing something here?
The Market pays you to be disciplined
  • #24,289
  • May 19, 2013 4:59am May 19, 2013 4:59am
Check out Gavin`s new video on youtube, they now have a scanner for MT4 that looks brilliant.
Seek not to change the world; seek only to change your mind about the world
  • #24,290
  • May 19, 2013 5:50am May 19, 2013 5:50am
Quoting gez40
Check out Gavin`s new video on youtube, they now have a scanner for MT4 that looks brilliant.
Are you among those 20 luckiest?
The Market pays you to be disciplined
  • #24,291
  • May 19, 2013 11:03am May 19, 2013 11:03am
Quoting mima
{quote} He was talking about EURUSD M15 and you are commenting his trade on EURJPY M30. Am I missing something here?
Oh. Lol. No, you are correct. He was showing a chart of EURUSD and I was showing EURJPY. I was just asking him about waiting for retracement for better entry.
Yes, I do enjoy eating bananas. Very much.
  • #24,292
  • May 19, 2013 11:52am May 19, 2013 11:52am
Quoting ieatbanana
{quote} I apologize if it appeared that I am criticizing your trade.
I didn't think that, so no worries. I'm just explaining my reasoning.
  • #24,293
  • May 19, 2013 1:37pm May 19, 2013 1:37pm
Quoting mima
{quote} Are you among those 20 luckiest?
"we`re not releasing it to the public yet" yeah right, looks good though.
Seek not to change the world; seek only to change your mind about the world
  • #24,294
  • May 19, 2013 9:57pm May 19, 2013 9:57pm
Quoting pres78
I wasn't going to bother posting about it but I figured why not...
Excellent and well thought out post, thanks for sharing it with us.

Quoting pres78
I have actually been testing some pretty neat things to develop a higher TF system because my goal to trade nothing but the daily charts so I can focus on work during the day and trading once a night after supper. Looking promising and someday I may share but for now my lab is sealed...
If you decide to share it with us, I will be looking forward to that day.
  • #24,295
  • May 19, 2013 10:04pm May 19, 2013 10:04pm
Seems as if we have some holidays for EUR/CAD/CHF so today might be a slow day. GU looks interesting today, 2h chart highest volume on Friday since 5/3, 5230 will be an area to watch out for if it decides to make a run up.
Attached Image (click to enlarge)
Click to Enlarge Name: 2h.png Size: 56 KB
  • #24,296
  • May 20, 2013 1:00am May 20, 2013 1:00am
It is holyday today but pros will trade exactly as per their plan...
The Market pays you to be disciplined
  • #24,297
  • May 20, 2013 1:57am May 20, 2013 1:57am
Quoting gez40
Check out Gavin`s new video on youtube, they now have a scanner for MT4 that looks brilliant.
Seems really good but it is very expensive. US$795... well, I think it is worth the value anyways.
  • #24,298
  • May 20, 2013 2:10am May 20, 2013 2:10am
Hope, you guys who bought it will post charts with that from time to time...share experiance...
The Market pays you to be disciplined
  • #24,299
  • May 20, 2013 6:17am May 20, 2013 6:17am
Daily Gold.

Opinions on this please. What happens next?
Attached Image (click to enlarge)
Click to Enlarge Name: gold1.png Size: 43 KB
Seek not to change the world; seek only to change your mind about the world
  • #24,300
  • May 20, 2013 8:35am May 20, 2013 8:35am
Quoting pres78
The last two daily bars have been effort to fall into the high of a daily zone (yellow fib) from Nov 7, 2012 (yes that date is not a typo)
As a follow up to my post from Friday as in an effort to fill the boring trading that comes with bank holidays I want to post my EU 1 hour chart with the above noted Daily zone replaced with a weekly fib zone placed on the Jan 2, 2012 bar (again not a typo). On my broker that Jan 2nd weekly bar is the highest volume weekly bar since Jan 2012. I have place 4 level on this zone rather than my normal 2 (0,25,50,75 & 10) mainly because I can since this leaves nice 60+ mini zones to trade within the larger weekly zone.

Oh and in a nice side note and to offer great confluence of volume at volum the high of the Nov 7th daily zone I did have on the chart is the same as the Jan 2nd weekly bar high almost to the pip... the low is 50% of the weekly and as such 50% of the Nov 7th Daily lines up nicely to 75% on the weekly zone... cool stuff.

I just love how great these zones work as predicative support (demand) and resistance (supply) zones. They are not only great for taking set-ups into but are perfect for setting TP targets.

Just look at where Friday found support (demand)... right at 50% (now 75%) of the daily zone I had on my chart. It was perfect and well planned and as such this is what I had my target at this area.

Now look at today... Even on a bank holiday we moved up and hit that fib high around 2877 and picked up supply... why? Because that's exactly where we should have expected supply to be. There was supply there on Friday that caused a sell off so why would we expect there not to be supply still there... Sell off hasn't been as crazy but we have moved down 35+ pips from that level and there was even a couple of nice lower TF entries into that level.

For claririty I decided to put back on the daily zone (Nov 7th) in a green fib just so everyone can see how the levels line up... when levels line up it add strength. Just like the set-up I took on Friday where the Thursday 1 hour zone low was right at that daily zone high...
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 27 KB
Today's zone = Tomorrow's opportunity!
16 traders viewing now