DislikedHello Can someone tell me if this is correct ? from left to right: No Demand Effort to rise Hidden potential selling Up thrust Background = weak {image} Where I sold: {image} Many thanksIgnored
- #26,683
- Apr 28, 2015 10:39pm Apr 28, 2015 10:39pm
- Joined Mar 2011 | Status: I should be on your ignore list | 5,597 Posts
- #26,684
- Apr 29, 2015 2:21am Apr 29, 2015 2:21am
- Joined Oct 2010 | Status: Looking at a few more charts... | 1,195 Posts
- #26,685
- Apr 29, 2015 8:45am Apr 29, 2015 8:45am
{quote} Ultimately, everything in VSA needs to be confirmed......Technically, VSA would have us entering longs on UP bars and shorts on DOWN bars.
I think the close of the bar is slightly underrated, instead of VSA it should be VSCA, Volume Spread & Close (of bar) Analysis.
The loss was not bad luck. It was bad Analysis - D.Einhorn
- #26,686
- Apr 29, 2015 9:06am Apr 29, 2015 9:06am
can anyone show me the correct way of trading the below chart?
we have a major overhead (blue horizontal line) & that trap up, I checked the 15 min. & 30 min. charts, mebbe there was something on the 15 min. chart that I missed.
we have a major overhead (blue horizontal line) & that trap up, I checked the 15 min. & 30 min. charts, mebbe there was something on the 15 min. chart that I missed.
The loss was not bad luck. It was bad Analysis - D.Einhorn
- #26,687
- Apr 29, 2015 9:43am Apr 29, 2015 9:43am
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
can anyone show me the correct way of trading the below chart? we have a major overhead (blue horizontal line) & that trap up, I checked the 15 min. & 30 min. charts, mebbe there was something on the 15 min. chart that I missed.
Today's zone = Tomorrow's opportunity!
- #26,688
- Edited 2:45pm Apr 29, 2015 9:44am | Edited 2:45pm
- Joined Apr 2015 | Status: Trader | 542 Posts
Support became resist. See spring on 3m. 5m chart has basic same idea with huge obvious NS at 8:50 CST.
3m 7:20 start
15m showed a test of sorts of the level as well with a NS test afterwards. (Ignore orange line)
3m 7:20 start
15m showed a test of sorts of the level as well with a NS test afterwards. (Ignore orange line)
{quote} I traded both the 1hr and 15 min signals today. Marked up your charts. Hope you don't mind. {image} {image}
1h
- #26,690
- Apr 29, 2015 10:33am Apr 29, 2015 10:33am
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
Today's zone = Tomorrow's opportunity!
- #26,691
- Apr 30, 2015 2:39am Apr 30, 2015 2:39am
Thanks guys, that was grrreat!
Hey pres, on the 15min. chart you've written support after absorbing sellers, can you please explain what action there is absorption? is it cause the bar after that up bar (on 1H chart) that closed in the middle on high volume (appears as 2 bar reversal on 15min. chart) is up & not down? or since price pushed through old tops on high volume (up bar on 15 min. chart) so this high volume is absorption?
Hey pres, on the 15min. chart you've written support after absorbing sellers, can you please explain what action there is absorption? is it cause the bar after that up bar (on 1H chart) that closed in the middle on high volume (appears as 2 bar reversal on 15min. chart) is up & not down? or since price pushed through old tops on high volume (up bar on 15 min. chart) so this high volume is absorption?
The loss was not bad luck. It was bad Analysis - D.Einhorn
- #26,692
- Edited 9:56am Apr 30, 2015 4:34am | Edited 9:56am
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
Thanks guys, that was grrreat!
Many would have expected there to be a selling reaction from that old high (especially the range traders) so we would have seen a flurry of range traders selling, some BO trader buying and the SM whom we saw were on the buyers side. Notice when just looking at the 15min chart that after that UHV upbar we had a down reaction showing us that sellers did come on board. These sellers were bought into by the SM and the retail BO traders that bought after "strong break" of the old resistance most likely got stopped out on that quick move down right after they entered the market. The volume on both downbars while lower was still high and we made 0 prgress on the second one. The flurry of activity is the BO traders either getting stopped or switching sides to become sellers as they thought they were wrong. The range traders continued to sell as they felt they were right and the SM continued to buy into those sell orders.
We know as support comes in and we go back up through that resistance that the sellers which were obviously there had been absorbed and were losing the fight. So when we get that 2BR into that R now S after the second push up we know it's a safe side to be on.
Today's zone = Tomorrow's opportunity!
- #26,693
- Apr 30, 2015 9:28am Apr 30, 2015 9:28am
wow! you really know how to read a chart pres, thanks, just one lil thing, why would you call it selling rejection? don't remember reading this term before sounds like an oxymoron to me. 
The loss was not bad luck. It was bad Analysis - D.Einhorn
- #26,694
- Apr 30, 2015 9:52am Apr 30, 2015 9:52am
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
wow! you really know how to read a chart pres, thanks, just one lil thing, why would you call it selling rejection? don't remember reading this term before sounds like an oxymoron to me.
"Many would have expected there to be a selling reaction from that old high"... not rejection
OOPS!Anyway just my take on how I view the charts.
Today's zone = Tomorrow's opportunity!
- #26,695
- Apr 30, 2015 11:01am Apr 30, 2015 11:01am
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
Without VSA, you're playing checkers while the Smart Money plays chess.
- #26,696
- Apr 30, 2015 11:22am Apr 30, 2015 11:22am
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
"But if you could just see the beauty in things I could never describe.........". I was going to talk about this chart, but we haven't had a test in awhile. So, ladies and gents, Please define the numbered intervals. Bonus #1: where, if anywhere, would you enter? Bonus #2: Where does that quote come from? {image}
Isolation by Joy Division
- #26,700
- Edited 3:07pm Apr 30, 2015 1:06pm | Edited 3:07pm
- Joined Apr 2015 | Status: Trader | 542 Posts
"But if you could just see the beauty in things I could never describe.........". I was going to talk about this chart, but we haven't had a test in awhile. So, ladies and gents, Please define the numbered intervals. Bonus #1: where, if anywhere, would you enter? Bonus #2: Where does that quote come from? {image}
1. ETR 2.ND reaction to ETF before it 3. Don't have a name for it 4. ND followed by a hangman (good sow) 5. Don't have a name for it
The candle before n.2 is an interesting one, it's reacting to the wide spread up candle 11 candles previous, as an ETF candle, with a ND to following as a nice weak reaction. The higher volume on candle 3, even though its a down candle is like an ETR fail in one to me.
My entry is close of hang man, stop just above candle 3, but I'm aggressive and I do get burnt. A note on the hang man and inverted hammer candles. My candlestick analysis is more advanced than the basic blah blah candlestick price action you see in books ect. It's very much based on volume and WRB candles, hang man, inverted hammer can be out of place a lot, and it's not an exact science when it comes to body size vs. range of candle.
