vsa with Malcolm | Page 1320 | 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

  • #26,381
  • Feb 19, 2015 11:21am Feb 19, 2015 11:21am
Quoting ZeeDeveel
Excellent replies guys thank you. So we shouldn't buy into the SC because prices may continue to drop further, with the smart money buying into it in multiple waves, leaving us with large drawdown / stop out? Thus wait for signs of supply drying up before going long? Hopefully I've identified the entry points correctly Intel. This quiz format is pretty cool. I also went back to examine the chart again... when I saw it I went "Oh..." {image} {image}
Ok, I'll give you the entries, and perhaps you can tell us why?

I don't have the ability to do a screen shot at the moment so sorry for the 'ropey' commentary!

1st entry is on close of the SO, at 13:15 ish. (Aggressive, not one I would personally take) EDIT : long entry
2nd entry is on break of the low of the ND at 16:20 ish. Fairly standard entry. EDIT : short entry
  • #26,382
  • Feb 19, 2015 11:37am Feb 19, 2015 11:37am
Are these the entry points you're talking about?
Attached Image (click to enlarge)
Click to Enlarge Name: entries.png Size: 31 KB
"Never Take a Trade You Don't Understand!" - Pres78
  • #26,383
  • Feb 19, 2015 11:45am Feb 19, 2015 11:45am
Quoting ZeeDeveel
Are these the entry points you're talking about? {image}
eerrrmmmm....

Not quite, sorry.
1st looks like its 15:15
2nd looks like 18:15

  • #26,384
  • Feb 19, 2015 11:48am Feb 19, 2015 11:48am
Quoting Intel
{quote} eerrrmmmm.... Not quite, sorry. 1st looks like its 15:15 2nd looks like 18:15
Try again
2nd looks like it is 18:20. It is the 2nd of the 2 NDs
  • #26,385
  • Feb 19, 2015 11:57am Feb 19, 2015 11:57am
Ok on the first one... There've been some high volume widespread down bars, followed by a two bars still on decent volume which make no downwards progress. Then the spring takes out the lows of the previous candles on quite high volume. Despite the high volume it closes at the top indicating that the downwards pressure was not genuine as it was easily pushed back upwards..... ? (maybe!)

And the short perhaps because it's the second low volume up bar in succession at an area where price previously went higher with little resistance?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 16 KB
"Never Take a Trade You Don't Understand!" - Pres78
  • #26,386
  • Feb 20, 2015 6:25am Feb 20, 2015 6:25am
Quoting ZeeDeveel
Ok on the first one... There've been some high volume widespread down bars, followed by a two bars still on decent volume which make no downwards progress. Then the spring takes out the lows of the previous candles on quite high volume. Despite the high volume it closes at the top indicating that the downwards pressure was not genuine as it was easily pushed back upwards..... ? (maybe!) And the short perhaps because it's the second low volume up bar in succession at an area where price previously went higher with little resistance? {image}
So then,

1st - we see a high volume wide spread down bar, which results in a retrace of approx. 40% of its spread possible SOS. This shows there is buying in the volume. Then we see a very similar bar, on similar volume, keeping our interest. Possible SOS
At this point, we still don't know if an entry will present itself.

Next we see a narrower spread down bar closing off the low but, on almost as much volume (not quite a squat, but same sentiment) SOS. This tells us that there is still plenty of activity in the market but, prices have not dropped much.
Then we have a very nice SO SOS.
For some, this is enough for an immediate entry long. A 1:1 trade is acceptable for this type of setup.

2nd - the up move prior to our entry candle, is generally on lower volume until we get towards the top SOW. Where volume increases rapidly, and produces a sharp wide spread down bar on very high volume SOW. This bar takes us into a recent low area, and is designed to lock in the bulls.
We break this with a good spread down bar on medium volume SOW.

Once we broke this low area, we quickly retest it with a ND SOW followed by another ND SOW(spreads are a little wider than text book but, sentiment is the same).
This is VERY common in both down moves and up moves.

A standard entry here is on the break of the low of the 2nd ND. SL can go either 2 pips above the high of the ND or the up bar 3 bars previous.
We are shorting in a down trend here so, get to BE fairly quickly and look for an exit as soon or as late as your strategy dictates.

Again, sorry for the lack of charts. I hope this all makes sense to you.
  • #26,387
  • Feb 20, 2015 5:13pm Feb 20, 2015 5:13pm
A couple of questions: I'm not sure which 40% retrace bar you're referring to in regards to the first setup. I see the two squat bars and the SO.

The second entry makes a lot of sense but the "lock in the bulls" statement has me slightly confused. If a widespread downbar occurs wouldn't the bulls sell? Or am I missing some trader psychology here?

Finally what would you say were the main problems with the two NS entries I indicated on my previous pic?

Thanks!
"Never Take a Trade You Don't Understand!" - Pres78
  • #26,388
  • Feb 21, 2015 3:49am Feb 21, 2015 3:49am
Insisting to be right is transferable to trading.
There is a winner and a loser, nothing in between.
  • #26,389
  • Feb 21, 2015 9:12pm Feb 21, 2015 9:12pm
Quoting buytosell
Insisting to be right is transferable to trading.

Insisting to be right is transferable to BAD trading.

Losses are endemic to trading. They are the cost of doing business. If one is insisting to always be right, then one does not have what it takes to be a trader.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #26,390
  • Feb 22, 2015 9:54am Feb 22, 2015 9:54am
Quoting HiddenGap
{quote} Insisting to be right is transferable to BAD trading. Losses are endemic to trading. They are the cost of doing business. If one is insisting to always be right, then one does not have what it takes to be a trader.
So what you are saying is that I should only think of VSA as an edge?

Work schedule changed, been pretty busy. EU and GU look to be really easy to trade these past weeks, I think.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 86 KB
  • #26,391
  • Feb 23, 2015 2:25pm Feb 23, 2015 2:25pm
Quoting ZeeDeveel
A couple of questions: I'm not sure which 40% retrace bar you're referring to in regards to the first setup. I see the two squat bars and the SO. The second entry makes a lot of sense but the "lock in the bulls" statement has me slightly confused. If a widespread downbar occurs wouldn't the bulls sell? Or am I missing some trader psychology here? Finally what would you say were the main problems with the two NS entries I indicated on my previous pic? Thanks!
No problem.

Take the SO on the first trade. The bar in question is the wide spread down bar, 5 bars before.
See that price hit the low on that bar then, on the following 2 bars, price retraced to approx. 40% of the wide spread bar (look at the upper wick, on the 2nd bar).

'Lock in the bulls' yes, it is trading psychology. Traders don't like to admit they're wrong. Instead, they will wait and 'hope' price comes back. There are many books out there that can give you insight to this.
  • #26,392
  • Feb 23, 2015 2:26pm Feb 23, 2015 2:26pm
Quoting HiddenGap
{quote} Insisting to be right is transferable to BAD trading. Losses are endemic to trading. They are the cost of doing business. If one is insisting to always be right, then one does not have what it takes to be a trader.
Bang on the money as always.
  • #26,393
  • Feb 24, 2015 4:08am Feb 24, 2015 4:08am
can anyone help me decode this chart pls.?

should I wait for the PA to clear those zones before I can consider going long?
Attached Image (click to enlarge)
Click to Enlarge Name: Snap18.jpg Size: 114 KB


is that SO (pink) a sign of strength?
Attached Image (click to enlarge)
Click to Enlarge Name: Snap19.jpg Size: 104 KB


Thank you.
The loss was not bad luck. It was bad Analysis - D.Einhorn
  • #26,394
  • Feb 24, 2015 5:00am Feb 24, 2015 5:00am
Quoting Vcv13
can anyone help me decode this chart pls.? should I wait for the PA to clear those zones before I can consider going long? {image} is that SO (pink) a sign of strength? {image} Thank you.
SO is a sign of weakness. However that SO is more of a failed spring as price failed to rally away from the danger point.

It's not so much of clearing a zone that is important, more down to waiting for supply being absorbed by demand and a general increase in the bullish picture. This can be price leaving a trading range with a test after a breakout on the newly formed support.
  • #26,395
  • Feb 24, 2015 7:52am Feb 24, 2015 7:52am
i want to learning in vsa so senior guide and help
Stopping volume ultra high volume close in midd and next bar is up confirmation
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg.png Size: 125 KB
  • #26,396
  • Feb 24, 2015 5:34pm Feb 24, 2015 5:34pm
Thanks again Intel! Can anyone recommend any youtubers other than Pete Fader? Or any books other than Wyckoff or Tom Williams?
"Never Take a Trade You Don't Understand!" - Pres78
  • #26,397
  • Feb 24, 2015 5:52pm Feb 24, 2015 5:52pm
Quoting ZeeDeveel
Thanks again Intel! Can anyone recommend any youtubers other than Pete Fader? Or any books other than Wyckoff or Tom Williams?
You should get the SMI course on Wyckoff, it has an amazing variety of content with audio lectures with charts that are assigned to each lecture.

Books I'd recommend are: David Weiss, Trades about to happen and Hank Pruden ' Three skills of Top Trading'.

Youtube doesn't have enough original content on Wyckoff.

I'd also very highly recommend attending Roman Bogomazov's webinars from Golden Gate University on the Advanced Wyckoff mini course. He's starting them again in April and conducts weekly 2 1/2 hour webinars on everything Wyckoff including: market structure, supply/demand relationship, comparative and relative strength analysis and trading tactics. Honestly his course is the most advanced and thorough course on Wyckoff that you can participate and do homework on. It's helped me tremendously.
  • #26,398
  • Feb 25, 2015 11:32am Feb 25, 2015 11:32am
Up thrust example
High of up thrust higher than higher of previous bar
Close near the low
can be close higher volume
Next bar is down(confirmation)
Attached Image (click to enlarge)
Click to Enlarge Name: up thrust.png Size: 40 KB
  • #26,399
  • Feb 25, 2015 1:01pm Feb 25, 2015 1:01pm
Quoting Forex-pk
Up thrust example High of up thrust higher than higher of previous bar Close near the low can be close higher volume Next bar is down(confirmation) {image}
I took a trade around this area today. Using the 15min and 3min P&F.

Attached Image (click to enlarge)
Click to Enlarge Name: 25-02-2015_EU_Sell.png Size: 84 KB


I've marked the FOMC 50% in orange as you can see on the above charts. The yellow box on the 15min chart is what drew my attention when I got up this morning. It's quite a wide spread for that time in the morning and whilst the volume isn't massive, there was definitely a marked increase. This was followed by an upthrust so at this stage I was looking for shorts. I had to wait for price to get below the MA on the 3min but eventually it did and printed a nice sell signal (green box). The target just happened to be above yesterday's zone. Which has provided support.
  • #26,400
  • Feb 25, 2015 2:28pm Feb 25, 2015 2:28pm
Oh wow, there are still some people here who believe there's volume in forex
How you all doing?
99 traders viewing now