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vsa with Malcolm

  • #24,461
  • Jun 6, 2013 11:05pm Jun 6, 2013 11:05pm
perhaps a bit of a sell off in Asia?
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  • #24,462
  • Jun 7, 2013 1:16am Jun 7, 2013 1:16am
Quoting SimpleDev
{quote} You read that perfectly, well done!

thanks
The loss was not bad luck. It was bad Analysis - D.Einhorn
  • #24,463
  • Jun 7, 2013 1:48am Jun 7, 2013 1:48am
Posted this on the Euro Yen thread..

Just a trade.. We will see how it goes.

Huge volume came in late in yesterdays US session, which knocked price side ways, then a massive shake out which rejected lowered prices. Now as price pushed back down into weekly support it did so with realtively low volume. Possible exit at 129.10, depends on PA, other wise I would really like to see monthly resistance 130.60 tested but that is a bit of a long shot.
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  • #24,464
  • Jun 7, 2013 4:54am Jun 7, 2013 4:54am
Watching a possible 1hr short EU entry... leaving for work now so will take it on my phone if this plays out. 7 mins till close...
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Today's zone = Tomorrow's opportunity!
  • #24,465
  • Jun 7, 2013 5:19am Jun 7, 2013 5:19am
Got in on a Swissy short yesterday. Really nice entry. If only they were this crystal clear every day!

Price fell below the 50% of a late March zone and then printed a ND reversal into this 50% which was followed by a triple bottom short. As we were close to the downside target from the high I set my target for here instead of the usual 1:1. Booked 90pips as it went straight down.

A reversal just printed on the right edge so i'd be looking at a return to 0.9310 for a potential long entry off the high of the blue zone. Perhaps back up to the low of the yellow zone.

I know my posts aren't strictly VSA but i've nowhere else to post
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  • #24,466
  • Jun 7, 2013 6:25am Jun 7, 2013 6:25am
Quoting pres78
Watching a possible 1hr short EU entry... leaving for work now so will take it on my phone if this plays out. 7 mins till close... {image}
This trade voided (obviously)...
Today's zone = Tomorrow's opportunity!
  • #24,467
  • Jun 7, 2013 6:32am Jun 7, 2013 6:32am
Thought i'd post this as well, I didn't take this trade as I was looking at the Swissy entry. Basically the opposite, instead the entry is an ascending triple top instead of a flat triple top.
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  • #24,468
  • Jun 7, 2013 6:56am Jun 7, 2013 6:56am
Quoting SimpleDev
{quote} I try to use all of the TFs available to develop a bias. Tom Williams always says that the markets are fractal, so using different TFs is like looking at the same picture at different angles. {image}
Thanks SimpleDev.
Can You say something about this tests after high volume bars on my chart? Is this any hint?
  • #24,469
  • Jun 7, 2013 7:26am Jun 7, 2013 7:26am
Let's Get Ready to RUMBLLLLLEEEEEEEEEEEEEEE!!!!!

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Come on volitility let's get another big day rolling
Today's zone = Tomorrow's opportunity!
  • #24,470
  • Jun 7, 2013 7:36am Jun 7, 2013 7:36am
Mixed news... jobs up but so is the rate...

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How do we trade this? Simple let the SM show us the way
Today's zone = Tomorrow's opportunity!
  • #24,471
  • Jun 7, 2013 8:08am Jun 7, 2013 8:08am
Quoting Hummel
{quote} Thanks SimpleDev. Can You say something about this tests after high volume bars on my chart? Is this any hint?
Sorry about that..

This is more of a personal preference on my part, but I like the low of my test bar to dip below the previous bar. There are a lot of successful VSA traders who do not use this, like I said I personal preference. So the two bars I would not consider a test.

But the biggest thing with test is you want it to actually test "something". Usually something is previous supply area, other times this could just be a major previous support zone.

The bar I marked it dipped below the low of the previous bar and it tested a previous supply area showing us that there are no remaining sellers present. This test proved that the previous day was bullish (remember the 1h chart I posted with the high volume on the lows).
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  • #24,472
  • Jun 7, 2013 8:11am Jun 7, 2013 8:11am
Was chatting in skype with Kinsale before NFP. The USD index showed SM hand nicely today.

Big volume from yesterday with potential buyers and you see prior to the news how Asia and London session respected the close of the potential buyers.

No trades been off my game this week and I don't trade NFP, just sit back and watch the fireworks.
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  • #24,473
  • Jun 7, 2013 8:33am Jun 7, 2013 8:33am
Quoting SimpleDev
Was chatting in skype with Kinsale before NFP. The USD index showed SM hand nicely today. Big volume from yesterday with potential buyers and you see prior to the news how Asia and London session respected the close of the potential buyers. No trades been off my game this week and I don't trade NFP, just sit back and watch the fireworks. {image}
What USD chart is that? That is not the USD index I am used to seeing. The USD index price is at 81.71 as of typing this...
Today's zone = Tomorrow's opportunity!
  • #24,474
  • Edited 10:11am Jun 7, 2013 9:38am | Edited 10:11am
Quoting pres78
{quote} What USD chart is that? That is not the USD index I am used to seeing. The USD index price is at 81.71 as of typing this...
My chart is for the Dow Jones US dollar index. The chart you are referring to is the USD futures. FXCM has the Dow Jones US dollar index, you will have to create a demo account in MT4 and select the country as UK, you will find the chart under CFD.
  • #24,475
  • Jun 8, 2013 7:07am Jun 8, 2013 7:07am
Quoting KinsaleForex
A reversal just printed on the right edge so i'd be looking at a return to 0.9310 for a potential long entry off the high of the blue zone. Perhaps back up to the low of the yellow zone.
Quick follow up chart. Price did as I thought it would but NFP was the catalyst. Don't like to enter trades during the NFP madness so didn't get in on it.
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  • #24,476
  • Jun 9, 2013 10:29pm Jun 9, 2013 10:29pm
Lets first take a look at EU weekly, on the first week of April we have a 2 bar reversal which resulted in price moving up 100 pips or so. Now towards the end of May we came back down to that level and found another 2 bar reversal, which caused the last two weeks to be bullish.

Now lets zoom into a 1h, the first thing that pops out is that massive UT, also notice the spread of the previous 4 bars of the UT compared to the rest of the chart, the spreads are massive as well. That is a big sign showing us that a distribution phase is going on. The bar I marked in red, big volume narrow spread, potential buyers here which we have weekly resistance above us at 1.3333, mixed with big news of the German court ruling probably will be an excuse to hike price up to 1.3333, watch for SOW up there.

Weekly seems very bullish, so I am thinking the downside is limited.. maybe 3020 or stretch of 2930. Just my humble opinion.
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  • #24,477
  • Edited 2:41am Jun 10, 2013 12:47am | Edited 2:41am
Hi guys,

I always thought that one cannot see the true volume in the FX market because it is not centralized. How do you trade with volume in FX? Do you use a certain broker or correlations with the equity market?

Thanks
  • #24,478
  • Jun 10, 2013 3:07am Jun 10, 2013 3:07am
Quoting SimpleDev
Lets first take a look at EU weekly... Weekly seems very bullish, so I am thinking the downside is limited.. maybe 3020 or stretch of 2930. Just my humble opinion.
I don't predict markets.

Here's my daily Euro chart. We had some supply enter on Thursday. Friday was a narrow range interval on very high volume. This is a squat. A Squat would imply that the market is being capped to the downside. Today would be a natural day to see a Test/No Supply tpye bar.

Note that the trend is UP. The bars a blue. The BPL is green and price is above it. Chart mode is green. And we can see that the market after making a lower high pivot, has made a higher low pivot. And price has traded above the recent lower pivot high. If price is making higher highs and lower lows, the trend must be up.
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #24,479
  • Jun 10, 2013 3:40am Jun 10, 2013 3:40am
Quoting HiddenGap
{quote} Friday was a narrow range interval on very high volume. This is a squat...... {image}
Something strange. 6E Futures daily chart - for comparison only. Volume on Friday is not very high. (my datafeed - mirus futures)
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  • #24,480
  • Jun 10, 2013 4:21am Jun 10, 2013 4:21am
Quoting savingpig
Hi guys, I always thought that one cannot see the true volume in the FX market because it is not centralized. How do you trade with volume in FX? Do you use a certain broker or correlations with the equity market? Thanks
This is someting I've been trying to understand also. Does anyone know if there any way to get reliable wholistic volume data on FX pairs?
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