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vsa with Malcolm

  • #27,901
  • Nov 28, 2016 2:06am Nov 28, 2016 2:06am
Quoting Hawkins
{quote} Which material do you recommend?

Richard Wyckoff - Method of Tape Reading
Richard Wyckoff - Tape Reading and Active Trading
Richard Wyckoff - Day Trader's Bible
David Weis - Trades about to happen

Also videos from a youtube channel called LTG Trading.
Price and volume reveals everything. The market moves on supply and demand.
  • #27,902
  • Nov 28, 2016 2:16am Nov 28, 2016 2:16am
Quoting LuckyMind
Well, lets see. How would this transaction does not close, I like this entry {image}
Sadlym had to close it with 1 risk profit.
I hope not in vain
Marked bars had big volume, but there are no results. I came out when saw a sharp and fast down move after updating the maximum
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  • #27,903
  • Nov 28, 2016 2:41am Nov 28, 2016 2:41am
Why close it? I'm in it too, totally valid Wyckoff entry.

That is an effort vs. result to the downside, because the trend is up, and there is no distribution.

See, VSA tells you, high volume on up bar is bearish. Which is not always true, not in this context.

Wyckoff always was against mecahnical rules in trading, this is an art. I don't think he would approve VSA.
Price and volume reveals everything. The market moves on supply and demand.
  • #27,904
  • Nov 28, 2016 2:50am Nov 28, 2016 2:50am
Quoting Darastonius
Why close it? I'm in it too, totally valid Wyckoff entry. That is an effort vs. result to the downside, because the trend is up, and there is no distribution. See, VSA tells you, high volume on up bar is bearish. Which is not always true, not in this context. Wyckoff always was against mecahnical rules in trading, this is an art. I don't think he would approve VSA.
Analyzing it now, I realize that it was not a large volume actually - so no reason to close.

I tried to read D.Hatson - Wyckoff Method, but I did not find practical tips, each could use in day trade.
There are more about fundamental analysis to me, ot it is not?
Attached Image
  • #27,905
  • Nov 28, 2016 2:51am Nov 28, 2016 2:51am
I'll check that out, I haven't read that. In original Wyckoff there are zero fundamentals.
Price and volume reveals everything. The market moves on supply and demand.
  • #27,906
  • Edited 3:11am Nov 28, 2016 2:56am | Edited 3:11am
Big buying in Asia on UJ, easy to see on H1. I'm a scalper I will be out quickly, thinking 112.07 at the moment still a bit undecided on TP.

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I went ahead and exited 3/4 of the position. I added a stop loss at 111.68 and see if I can let the position run to 112.80

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I'm off to read Tape Reading and Active Trading.
Trust the Market
  • #27,907
  • Nov 28, 2016 3:07am Nov 28, 2016 3:07am
Quoting Hawkins
Big buying in Asia on UJ, easy to see on H1. I'm a scalper I will be out quickly, thinking 112.07 at the moment still a bit undecided on TP. {image}
Marked bar looks like low vol test, your long was cuz of this lvl + no demand ?
Nice trade, hope it will grow up )
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  • #27,908
  • Nov 28, 2016 3:16am Nov 28, 2016 3:16am
Quoting LuckyMind
{quote} Marked bar looks like low vol test, your long was cuz of this lvl + no demand ? Nice trade, hope it will grow up ) {image}
Kind of..

Once I saw the H1 shakeout I was basically just looking for a NS/test to go long on at London open. The fact that the NS was into the high of the fib level was a happy chance. Honestly I would have taken a NS whether it was above or below the fib level.
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Trust the Market
  • #27,909
  • Nov 28, 2016 3:47am Nov 28, 2016 3:47am
They got me in BE on GU. This was either an upthrust on a bigger scale and this is supply, in that case GU is bearish, or this is a shakeout, then it is bullish. We'll see how it reacts to this, probably it will be clear by tomorrow.
Price and volume reveals everything. The market moves on supply and demand.
  • #27,910
  • Nov 28, 2016 5:32am Nov 28, 2016 5:32am
2 x HV UT on H4 EUR/USD in a downtrend.
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  • #27,911
  • Edited 6:00am Nov 28, 2016 5:50am | Edited 6:00am
Two HV UT in a clear downtrend - repulsion from resistance (red arrow). Taken too late so from H4, if situation will be OK, I will maybe take another in this downmove on smaller TP, but generally the day is done. Considered also GBP/USD (UT on a 1.25 level) but move already started there two minutes ago.
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  • #27,912
  • Nov 28, 2016 6:25am Nov 28, 2016 6:25am
Quoting Fred-IV
2 x HV UT on H4 EUR/USD in a downtrend. {image}
Nicely done !

So, back to the previous question - is first UT at high volume?
Well it higher than MA, but comparing to previous two bars - it's medium, no?
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  • #27,913
  • Edited 6:43am Nov 28, 2016 6:30am | Edited 6:43am
Quoting LuckyMind
If sum up, so the easiest and workable way - its to find obviously strong trend and just look for weak contrmoves at it GU m30, will try to go long, since i see weak downmove and we are at the lvl of last high vol. {image}
I must admit, I have mixed feelings about this trade, you traded against a strong level here, which repulsed price many times before (red arrow, this level at last eight times repulsed price). The safe trade here would be to take next correction up - after taking out high of this UT.

Seeing that level I considered shorting here, although overall trend was up and UT has too small volume (would like to see 40% more). It wouldnt be a five-star trade but considered anyway.

It may be a next type of trade, not taking a signals in a clear trend, but taking a signal on a boundary of a clear consolidation. Gavin spoke about this many tiomes, as far as I remember they have a training abou this (title might be "trigger numbers" or something similar - mean numbers where are clear supply or resistance present).

Seeing your approach to taking action even with not so extensive knowledge of VSA I am impressed, your success is only a matter of time I suppose.
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  • #27,914
  • Nov 28, 2016 6:39am Nov 28, 2016 6:39am
Quoting LuckyMind
{quote} Nicely done ! So, back to the previous question - is first UT at high volume? Well it higher than MA, but comparing to previous two bars - it's medium, no? {image}
Yes and no. From the technical standpoint it might be a no. Or medium-high.

So why I considered this HV UT?

I took into account that this is Monday, first session of the week so not all traders are present, it was a HV at this time for me. From my experience Mondays are more or less funny days, dont like Mondays. Originally VSA is for daily charts only and only for stocks, so large part of knowledge is imho missing when you want to trade lesser TF-s and Forex. There is no floating supply here for example. There are "dead zones" starting at the end of each US session, so we must take that into account. Also we have plenty of "HV" signals at the start of London sessions only due to fact that traders are starting their day here. All this should be taken into account.

Hope this helps.
  • #27,915
  • Nov 28, 2016 6:50am Nov 28, 2016 6:50am
Quoting Fred-IV
{quote} I must admit, I have mixed feelings about this trade, you traded against a strong level here, which repulsed price many times before. The safe trade here would be to take next correction up - after taking out high of this UT. Seeing that level I considered shorting here, although overall trend was up and UT has too small volume (would like to see 40% more). It wouldnt be a five-star trade but considered anyway. It may be a next type of trade, not taking a signals in a clear trend, but taking a signal on a boundary of a clear consolidation....
Thx a lot , since i think a good trader hvae to be narcissistic, i have to say i will success

Tbh, i really dont like to use higher TF. I use 1 for searching for a trade, then lower - to come in. For now i didnt want to live trade, just i saw this situation and it's look very perspective. Trade tester just more efficiently for training to me.

Wanna learn VSA to enhance my PA entrances, cuz in pa i read every candle, so wanna just wanna know a little more about candle by VSA side.
For example :
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  • #27,916
  • Nov 28, 2016 6:59am Nov 28, 2016 6:59am
Quoting Fred-IV
{quote} Yes and no. From the technical standpoint it might be a no. Or medium-high. So why I considered this HV UT? I took into account that this is Monday, first session of the week so not all traders are present, it was a HV at this time for me. From my experience Mondays are more or less funny days, dont like Mondays. Originally VSA is for daily charts only and only for stocks, so large part of knowledge is imho missing when you want to trade lesser TF-s and Forex. There is no floating supply here for example. There are "dead zones" starting...
But still it tradebale, since i saw Malcolm used even 5min tf, right?
I think i just have to practise them, to adjust VSA theory to it
  • #27,917
  • Nov 28, 2016 7:04am Nov 28, 2016 7:04am
VSA or Wyckoff trading doesn't need to be complicated. GBPUSD for example was clear today (as were several others). UHV mark-up overnight, LO was another SOW as we failed to close over mid point of the overnight bar.

15 min chart attached showing a great ND into the L of the LO zone. Target 1 for me was Friday's highest volume 1 hr zone. Trailing the rest.
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Today's zone = Tomorrow's opportunity!
  • #27,918
  • Nov 28, 2016 7:07am Nov 28, 2016 7:07am
Quoting LuckyMind
{quote} But still it tradebale, since i saw Malcolm used even 5min tf, right? I think i just have to practise them, to adjust VSA theory to it
As far as I remember Malcolm frequently analyzes on higher timeframes and enters on smaller. I dont remember any entry on M5 but I might be wrong.

Gavin teaches that for sare entries, when you use VSA as a standalone system, you should consider two or three timeframes (safer).

Personally I think that M5 is tradable, even M1 but analysis for these TF must be done on H1 or H4: for example H4/M30/M5; H1/M5/M1.
  • #27,919
  • Nov 28, 2016 7:30am Nov 28, 2016 7:30am
If you trade M5/M15/M30/H1 timeframes and you are at the moment of the red vertical line, there is no way for you to tell that an H4/D1 supply train will come in hard, and that the marked area is not reaccumulation.

Yeah, it is a bigger upthrust, we'll trade the short side from now on. It is the same on every timeframe, but on the smaller ones you have to be quicker with your stop and management, because more of these trains can come in.

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Price and volume reveals everything. The market moves on supply and demand.
  • #27,920
  • Nov 28, 2016 7:38am Nov 28, 2016 7:38am
Quoting Darastonius
If you trade M5/M15/M30/H1 timeframes and you are at the moment of the red vertical line, there is no way for you to tell that an H4/D1 supply train will come in hard, and that the marked area is not reaccumulation. Yeah, it is a bigger upthrust, we'll trade the short side from now on. It is the same on every timeframe, but on the smaller ones you have to be quicker with your stop and management, because more of these trains can come in. {image}
Hey Dara, how are things going for you? Glad you found something that works for you and how you like to trade.

I for one got my ticket for the train ride.

GBPUSD today for me I was only looking for short trades at the end of that first bar of the London session. My multi TF is only as much as placing 1hr zones and taking entries off lower TF charts. That said for my intraday trading I don't care at all what the 4hr, Daily and Weekly charts are doing. I only care what my zones are telling me. Those higher TF's only come into play for me when taking longer term swing trades.
Today's zone = Tomorrow's opportunity!
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