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tawe trader

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  • Last Name
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  • Country
    United Kingdom
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  • Occupation
    Fulltime chart watcher & trader
  • Biography
    My goal is to be PDF (sorry Sledge) patient, disciplined and focused.
  • Interests
    Reading, cycling, snowboarding, walking/running with my husky

Trading Information

  • Vendor
  • Favorite Markets
    FTSE & ES
  • Trading Years
  • Trading Platform
    Charting software = Sierracharts

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  1. Januszom, Thanks for posting, maybe you could re-post on the latest VSA thread where there are more followers. http://www.traderslaboratory.com/forums/151/vsa-volume-spread-analysis-part-ii-3428-218.html#post60610 Also, I would like to see a chart of your volume sticks, as they say:- a picture paints a thousands words. Regards Tawe
  2. Hi Dutchy, I have read pretty much all of the VSA posts here and I can't remember anyone talking about VSA indicator code for NT or ProRealTime, sorry. Tawe
  3. Sleepy, You could also wait for a clear break of the ND low before entering. ie let the mkt activate your short entry. It's not a 100% guarantee of success but it you have kept you out of this losing trade. Also, similar to what Eiger mentioned, the longer a decline (or rally) goes on the higher the risk in taking a no demand. The best risk v's reward ND's are after a top and a sign of weakness. We have also recently discussed seeing ND's in the wrong place on this thread and I think the conclusion we came to, was that best option is to kind of ignore them. Have a look back at the posts regarding this VSA topic, starting with Tasuki on post #2092 page 210. Regards Tawe
  4. Dutchy, I'm not sure by what you mean by NT and ProrealTime code for what ? Regards Tawe
  5. Microsoft update - daily chart It's been a couple of days since I lasted posted a chart, as you know, MSFT and the Nasdaq have been acting pretty bullishly. MSFT is coming up to an area ($21 - highlighted in pink on the chart) that Eiger mentioned that may prove a tough nut to crack. The stock nearly got as high as the $20 mark last Friday but found some resistance from a previous high. Looking at yesterday we have an interesting bar. Does the mkt have a breather before rallying on up, or are we going to pullback to the lows ??? I have made some notes on the chart. Tawe
  6. Eiger, thanks for your multiple timeframe analysis. I tend to agree that it also looks a tall order for the bulls. Cheers wunderlich for this info ........ fancy Bill Gates selling some shares near to a multi-year low !!! I have updated the daily MSFT chart with my current point of view and again any and all comments are very welcome.
  7. Microsoft update - daily chart Well I never planned to do a regular MSFT update but seeing as it's a mkt bellweather stock and there is some interest in it, on this thread, I'll carry on, unless someone else would like to chip in. MSFT didn't drop down to the 16.75 level but it did go as low the 17'ish area, which was the low of the ultra high volume wide spread down-bar. On the return to this 17'ish area the relative volume was a lot less than 6 days earlier. We have now had 2 up days on higher volume than the previous 2 down days, which can be seen as possibly bullish. Also it's broken and closed above the point #2, so we have our 1-2-3 bottom in place and it has also closed right on the descending upper channel line. It is looking fairly bullish but it now needs to try and hold this level without giving too much back and any retracement needs to be on low volume if we are to see any sort of reasonable bull run. Any thoughts anyone ? BTW, I had tried to post this about 3 hrs ago but there was attachment problems on the TLab website, which thankfully are fixed now
  8. Taz, What I mean by a multi-day test is nothing really new and ground breaking. It's just that if we are looking for a possible long trade in MSFT then maybe the next time prices return to the lows, down into the ultra high volume area, then over a range of bars (instead of the typical VSA one/two bar test) we need to see relatively lower volume. I have attached a possible future scenerio for MSFT. After knowing about double bottoms and triple bottom for years, it wasn't until I learnt about VSA that I understood why they happened ie a double-bottom is formed after a successful re-test of the lows but if this fails because there is still supply in the mkt, the mkt returns back to the lows again. If this is successful then we see a triple bottom. Obviously for double and triple bottoms to be successful there must have been professional accumulation by the big players as prices declined.
  9. I think for trading the long side with Microsoft there are perhaps a couple of things to look for. 1. Individual bars showing a confirmed VSA test / no supply, or 2. The volume (over a range of bars) of a possible down-leg back into the previous area of ultra high volume ...... a multi-day test, so to speak. 3. If this retracement is on lower volume and the stock turns back up, then maybe a confirmed 'test in a rising mkt' could be an entry point. I think it's a case of watching MSFT on a daily basis and seeing how things unfold. If there is a successful re-test of the ultra high volume multi-year low, then a good old fashioned 1-2-3 bottom (breakout above point #2 ..... say 18.3) would also be a possible entry.
  10. Some fairly predictable ES action thus far today, prior to US GDP news. The mkt was down nearly 10 pts from yesterdays close and around an hour before the news was due there was some pretty big pre-mkt volume. The 'talk' on Bloomberg and CNBC websites this morning was that the GDP figures were going to be the worst for over 25 years ......... surprise, surprise the news was better than expected and the mkt jumped. Now I wonder if the market taken down so the so-called smart money can load up long on some ES contracts and make a quick buck ????? The charts tell the full story. Tawe
  11. Yes Tasuki, I agree on both counts, it has been quiet here with some odd stuff going on and yesterday does look like a NSP (no selling pressure) day on the OEX. There's a similar situation with Microsoft (MSFT) with the added bonus of ultra high volume in the background six trading days ago. Regards Tawe
  12. Shamal, no probs. There was another example again this morning on the 5 min ES. Regards Tawe
  13. Shamal, yes I guess it was, but I didn't see the harm in giving my 2p worth's and a current chart / example, of these 'polar bears in Hawaii'.
  14. I see these ND or no buying pressure bars (coming in before a rally) frequently occuring in all timeframes, especially after a long decline and with a sign of possible strength in the background. I now see it as activity (buying and selling) temporally drying up and another reason to be in the long camp. There was a similar situation on the 5 min ES this morning, when the London markets opened. The charts say it all. Tawe
  15. Yes, Hakuna I set nearly all my futures charts (various timeframes) to finish at 4.35pm around the FTSE100 cash mkt close. As I think I mentioned before, I believe the cash mkt hours, when UK shares are traded and future volume is at it's highest, is the most important time period. I do take note of the futures evening chart, so I can see where it's been during the US session, highs and lows etc. Here's a fine example in the 7 min chart I have attached below. It's today chart with yesterdays close at 4.35pm and my std floor pivots calculated from this close. The mkt bounced off this S1 level and if I'd set Sierracharts to calculate the pivots off the whole future session (last night 9pm close) then S1 was at a different level and didn't really have any effect. This is only my own opinion but I've found the 8am to 4.35pm prices and volume are the ones to follow, work from and I end up with 'cleaner' charts. I don't know if it was coincidence or whatever but todays S1 was at the same level as the 45min (multi-day) 50% Fib retracement level, where I exited a large portion of my short trade. Regards Tawe
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