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vsa with Malcolm

  • #24,821
  • Nov 7, 2013 8:49pm Nov 7, 2013 8:49pm
Quoting carbonado
{quote} i want to ask...how to you set your take profit..do you use any supply or demand zone ahead..or you just wait till the pros tip their hand again...thanks in advance............input from anyone appreciated also............
Intraday trades I tend to use Pivots for profit levels, unless volume tells me to get out sooner.

Quoting carbonado
{quote} another question is how do you.....follow the trend with this system,seems it is not trend based.in short am trying to ask if u use just 1 time frame or u use two time frames or u could give a possible time frame combination.........
VSA is meant to be a trending system. Think of VSA as an early warning detection system that the trend will change.

Now how I implement this is that for intraday trades is that I keep an eye on the 1h TF and look for entries 15m (sometimes 5m, but not often) as long as one of those TFs is trending in the direction of my trade then I am happy.

This post.. http://www.forexfactory.com/showthre...06#post7068006

I knew it was a counter trend trade as far as the 1h was concerned.. 1h the 21 SMA was down, but the 5m was trending up and I had a bit of strength on the 15m, so I went long.
  • #24,822
  • Nov 7, 2013 9:02pm Nov 7, 2013 9:02pm
Anyone care to take a whack at why the Euro fell instead of pushing through?

And No, the down trend on the higher timeframes doesn't count!
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  • #24,823
  • Nov 7, 2013 9:04pm Nov 7, 2013 9:04pm
Quoting 1pipperhour
{quote} I've read both. MTM has clearer pictures and yes, is full of TG.
Aldo makes 1 pip per hour.. hmm that is 24 pips a day 5 days a week at 52 weeks a year.

Aldo makes 6240 pips a year. Good job!
  • #24,824
  • Nov 7, 2013 9:12pm Nov 7, 2013 9:12pm
Quoting SimpleDev
Anyone care to take a whack at why the Euro fell instead of pushing through? And No, the down trend on the higher timeframes doesn't count!
I just saw this post, and so I am replying to it specifically.

Why does the down trend on the higher time frames not count? Could you please clarify? Because I believe using and successfully interpreting what the "higher" TF is doing -- believe it or not -- is one of the keys to trading.

This may not be the answer that you're in fact looking for, but I'm not so sure you know what you're looking for either.

And if I am mistaken, then why don't you just enlighten us all already?
Please check out my blog at https://from-zero-to-hero . net
  • #24,825
  • Nov 7, 2013 9:30pm Nov 7, 2013 9:30pm
Quoting smash1820
{quote} I just saw this post, and so I am replying to it specifically. Why does the down trend on the higher time frames not count? Could you please clarify? Because I believe using and successfully interpreting what the "higher" TF is doing -- believe it or not -- is one of the keys to trading. This may not be the answer that you're in fact looking for, but I'm not so sure you know what you're looking for either. And if I am mistaken, then why don't you just enlighten us all already?
What I meant was that the downtrend on the higher time frame was not the reason I was looking for on why Euro dropped.

I will give my interpretation of the events later today or tomorrow, people have expressed interest on being given a chart to analyze and seeing what others think.
  • #24,826
  • Nov 7, 2013 10:04pm Nov 7, 2013 10:04pm
Okay, looking forward to your interpretation of the events

And also, I only say this because I believe what I call the technicals (ie: a given time frame relative to it's neighbouring TF's and how they interact with each other) is really the key to trading. You are ideally looking to trade confluence within the TFs, but it is obviously much easier said than done.

But I basically believe the idea of "confluence" can explain everything the market has to throw at you.
Please check out my blog at https://from-zero-to-hero . net
  • #24,827
  • Nov 7, 2013 10:19pm Nov 7, 2013 10:19pm
Quoting SimpleDev
{quote} What I meant was that the downtrend on the higher time frame was not the reason I was looking for on why Euro dropped. I will give my interpretation of the events later today or tomorrow, people have expressed interest on being given a chart to analyze and seeing what others think.

euro dropped not because the higher tf was down...in fact it was on to a demand zone before it bursted thru it.....i might not get the terms right but i think i now what happened as i have read MTM 2wice already would still keep on reading it.okay back to my explanation....initially there was a stopping volume or absortion volume to bid price up which was later tested and was okay for a upleg...but price was reluctant.....it was sluggish.....for pric not to respond quickly means something is wrong......smart money sold into the candle i have highlighted and then tested the area,found there was little buying going on so they sold...booom price dropped like a rock.........pardon my analysis as am just new to VSA............
  • #24,828
  • Nov 7, 2013 10:21pm Nov 7, 2013 10:21pm
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  • #24,829
  • Nov 7, 2013 10:25pm Nov 7, 2013 10:25pm
Quoting SimpleDev
{quote} Intraday trades I tend to use Pivots for profit levels, unless volume tells me to get out sooner. {quote} VSA is meant to be a trending system. Think of VSA as an early warning detection system that the trend will change. Now how I implement this is that for intraday trades is that I keep an eye on the 1h TF and look for entries 15m (sometimes 5m, but not often) as long as one of those TFs is trending in the direction of my trade then I am happy. This post.. http://www.forexfactory.com/showthre...06#post7068006 I knew...

Whats the highest timefame you trade.......
  • #24,830
  • Nov 7, 2013 10:39pm Nov 7, 2013 10:39pm
As far as I can tell, VSA is just like the concept of support and resistance plus a little bit more.

But there are many ways to skin a cat.
Please check out my blog at https://from-zero-to-hero . net
  • #24,831
  • Nov 7, 2013 11:55pm Nov 7, 2013 11:55pm
Quoting smash1820
As far as I can tell, VSA is just like the concept of support and resistance plus a little bit more. But there are many ways to skin a cat.
Your last sentence really sums it up, there is a lot of variation in how people trade.. Even a lot of variations with how people trade VSA.

I see VSA as more of emphasis on PA and S/R is a by product of VSA.

AU chart to explain.

The volume shows me what are the most important bars to see, the most obvious bar I labelled "selling climax". The selling climax is a down bar that closes quiet high from the low of the bar, telling me that there is a good chance a lot of activity (volume) here is buying. How else would the bar be closing so high from the low?

Where the by product S/R comes in, is I want to see how price reacts to the selling climax, because I honestly don't know for sure whether its buying or not I only have an idea. Two days later, I see another down bar closing away from the low that I labelled potential buying. And after this bar we start to notice small bars with no volume right at the low of the selling climax, I labelled these narrow bars "tests".

Now if the bar I labelled as a Selling Climax, if this bar contained sell orders I would imagine as price approaches the low of this bar again, we would not see these tests, but rather see price push lower. But since we see tests and price rises we can assume the selling climax was strength because no one was interested in taking price lower.
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  • #24,832
  • Nov 7, 2013 11:56pm Nov 7, 2013 11:56pm
Quoting carbonado
{quote} Whats the highest timefame you trade.......
4h and 12h, I still need some work on my higher time frames so I don't discuss them often. Every now and then I throw something out there but its usually pretty obvious.
  • #24,833
  • Nov 8, 2013 12:00am Nov 8, 2013 12:00am
Quoting carbonado
{quote} euro dropped not because the higher tf was down...in fact it was on to a demand zone before it bursted thru it.....i might not get the terms right but i think i now what happened as i have read MTM 2wice already would still keep on reading it.okay back to my explanation....initially there was a stopping volume or absortion volume to bid price up which was later tested and was okay for a upleg...but price was reluctant.....it was sluggish.....for pric not to respond quickly means something is wrong......smart money sold into the candle i...
Excellent you got it, I was looking for the simple answer of there was no selling climax. This move only had stopping volume, which the stopping volume was only able knocked the market sideways.

Zooming in on the 15m chart on both EJ and EU you can easily see the potential selling from November 6th.
  • #24,834
  • Nov 8, 2013 1:28am Nov 8, 2013 1:28am
Quoting SimpleDev
{quote} Aldo makes 1 pip per hour.. hmm that is 24 pips a day 5 days a week at 52 weeks a year. Aldo makes 6240 pips a year. Good job!
Can't change the name. I know this may sound strange to somebody, but I only need 100 pips per week which is 1 pip per hour (OK a little more than that but almost).
  • #24,835
  • Nov 8, 2013 2:21am Nov 8, 2013 2:21am
Hello everyone.

I'm learning alot from this thread and would like to have some comments about this analysis on 1h EU chart. Am I on the right track?

I apologize if the terms are wrong...
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I know the secret...
  • #24,836
  • Nov 8, 2013 2:28am Nov 8, 2013 2:28am
Quoting SimpleDev
{quote} Excellent you got it, I was looking for the simple answer of there was no selling climax. This move only had stopping volume, which the stopping volume was only able knocked the market sideways. Zooming in on the 15m chart on both EJ and EU you can easily see the potential selling from November 6th.

e/j is unto a upleg.............i think..what do you think.............
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  • #24,837
  • Nov 8, 2013 2:56am Nov 8, 2013 2:56am
Quoting JRissa
Hello everyone. I'm learning alot from this thread and would like to have some comments about this analysis on 1h EU chart. Am I on the right track? I apologize if the terms are wrong... {image}
Personally I'm not seeing strength in the background although you have pointed out climatic action correctly.
  • #24,838
  • Edited 3:43am Nov 8, 2013 3:30am | Edited 3:43am
Quoting JRissa
Hello everyone. I'm learning alot from this thread and would like to have some comments about this analysis on 1h EU chart. Am I on the right track? I apologize if the terms are wrong... {image}
Not a big deal, but your labels are reversed.

This depends more on what kind of trade you are looking for.. I am assuming you're looking at a longer term trade with this.

For now its still to early to start looking at this, I would rather wait 2 or 3 days to see how price reacts to the shake out (you labelled it as selling climax). Ideally I would want to see price react bullishly and test on low volume the horizontal blue lines. Either one of them will work, they are just giving us areas to watch. Look at the AU chart I posted above for Smash, it took two days before we started seeing a reaction to the selling climax.

Big thing is today is NFP, there is a chance NFP will push Euro back up to its levels from yesterday and never to return back down to this level. If that happens we can grab a ND on the way up next week. Remember this is the biggest volume we have seen all year, this could potentially drive EU to 1.4000. Or NFP could tank EU, its too soon to tell, remember there is no guarantee that this is buying.. you want to force the market to tip its hand by how it reacts to the potential buying.

Yellow bars just showing a bit of supply in the up move, not sure what to make of it just yet.
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  • #24,839
  • Nov 8, 2013 3:33am Nov 8, 2013 3:33am
Quoting carbonado
{quote} e/j is unto a upleg.............i think..what do you think............. {image}
EJ bothers me a bit.. the bulk of the volume is on an up bar, granted the up bar closes on its high which is bullish.

Don't forget today is NFP, I personally would lock in some profit before then.
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  • #24,840
  • Nov 9, 2013 2:26am Nov 9, 2013 2:26am
Quoting SimpleDev
{quote} Excellent you got it, I was looking for the simple answer of there was no selling climax. This move only had stopping volume, which the stopping volume was only able knocked the market sideways. Zooming in on the 15m chart on both EJ and EU you can easily see the potential selling from November 6th.

Sorry I'm late to the party...
Thanks SimpleDev for the explanations.
Please let them come, many people are interested and are starting to showing up, it's way more exciting to discuss live charts than reading about old trades.
By the way, how do you manage to get your volume histogram below the chart on the main window?

Good Job Carbonado. I like the way you highlight one candle of interest with a zone extending right.
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