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TinGull
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Posts posted by TinGull
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jj, I think you're looking for the wrong things, personally. I always used to want to catch the tops and bottoms, and thats what it sounds like you're trying to do. You mentioned seeing potential buying with positive tests....I'd be looking for that in an uptrend. in a downtrend, i want to see hidden selling, upthrusts, no demand...I don't pay any attention to what i think could be hidden buying, UNLESS it's seeming to strengthen up considerably at a large support area.
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Just a note on the chart i had posted in here a few days ago...SOLF...shorted on a doji "no demand" at resistance and today things are going very well. Nice gap down and currently is 14.6% lower from the close yesterday, and nearly 20% lower from my original entry.
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Would you guys mind helping me out on this chart. One thing I'm still getting tripped up on is the background.Have a look at this chart of the DOW mini (15 min chart), would one of you be able to point out the elusive (to me anyway) background?
I know Ravin's familiar with the YM, any pointers?
Thanks!
I don't know if this is the answer you're looking for...but weakness is apparent there with the lower hi's and lower lo's.
Often I think people can get tripped up in looking for smaller signs of overall weakness, when you've got obvious weakness in the form of a down trend. In that scenario, I'd be shorting all the no demand bars on rallies until that doesn't work anymore.
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Yup, sure does help
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Well, closed out a portion of my play yesterday afternoon for near my max profit on it. Unreal to have that happen in 6 days on a 50 day spread... Still holding another play on spx, tho...so far so good.
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Covered some positions today. Seeming how theres still 30 days left till DEC expiry and I get nearly my max profit...I'll take that. And actually....now that I look at my statement...I got out of that one at .02, NOT .04. Gotta love smart routing.
SOLF is working well, too.
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Its a line showing the support of the WRB
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So, anyone by chance making money on this?Bet yer bottom dollar I am
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Bert, if you see where the #2 is and there's a yellow box...that is outlining the support/resistance area of the wide range body candle that I marked out. The tops and bottoms of WRB candles as well as long tails on candles mark imbalance/excess. Hope that helps
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Good point Darren. VSA is great when used to take higher odds trades, ie; in the direction of a trend. Tools to use for that....higher highs and higher lows/or opposite.
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hahaha! :dito
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Its totally you isn' it?
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Though I'm not holding a futures position on the spx, I still am holding my options positions on the indices over the holiday weekend. I'm way in the clear on a couple of the positions, so just let 'em ride the rest of the way out till DEC expiry. Has been a sweet ride, tho.
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Thanks Walter
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The tail will provide a S/R area, so the first level of support is going to be at the top of the tail.
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Someone's gotta be on the other side of that short covering, so there's still activity happening. I wouldn't say it taints VSA. Maybe something to be aware of, yes.
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I would disagree that price and volume are "indicators". Indicators need to indicate information that is based on something...since price can't exist without volume and volume can't exist without price and neither can exist without time, then I would say those 3 items can't be counted as indicators. Now, one could say volume is an indicator of activity...but volume IS activity.
So...I would disagree about price and volume and time being indicators. They are the baselines that indicators derive their information.
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Hey Bert, nice work. What i see here...
1: Note that level of support. First area of support where the yellow line starts is a WRB support line. The bottom of the WRB often will provide support, and getting a higher volume spinning top right after...good sign it'll go higher. Then...comes the penetration of the low of that WRB on lower volume. Regular spread, lower volume and closing in the upper third. A break of that hammer is reason to get long for sure.
2: Another WRB that should provide some sort of S/r, and the next bar closes outside of that zone and then we get signs of excess in the form of long tails penetrating that S/R zone of the WRB....killer play.
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Welcome greenmark!
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Totally with MrPaul on that one.
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Yea, I did sell a vertical on this stock too as a volatility hedge.
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I think the bar before it would be a test, and this would be another test on stronger volume showing strength indeed.
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appreciate it
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Yea...I see what you're saying on that jj...but the "playing field" is showing a much longer term uptrend than the length of time I intend to hold. I'm much more interested in gap break from the trading range.
[VSA] Volume Spread Analysis Part I
in Volume Spread Analysis
Posted
Absolutely, ranj. Nice phase 3 and then a breakaway gap from that....amazing.