jjthetrader

Updates on the two stocks I posted on the weekend. The first was the one I was asking about testing which was confirmed as a test today. The second is FDX which there was obviously still a lot of weakness.

I was thinking more along the lines of determining strength or weakness for the following day based on end of day action and wether it gives a good indication. As for beginning of the day, how do you relate it to what will happen at the end? thanks

I think you're right Tin. It trips me up sometimes because one bar will be hidden potential buying followed by hidden potential selling on the next bar. Best to step aside I suppose or drop down to a smaller timeframe to see what's happening.

Nice trade bertg. Any positive trade is a good one. Do you guys think end of the day market action taints VSA. Short covering produces very high volume in a short period of time. Any thoughts?

Like this then?

The news is all over the impending fallout of FedEx Stock. Huge Gap down on Friday with massive volume but look at the close. It just dropped out of it's trend channel so will that now be resistance for it or is there enough strength in that down bar to "rise" to the occasion?

Hey all, here's a chart that's got my attention. I don't usually trade EOD so thought I'd post it. Does the most recent bar look like testing? I know there's no follow through yet to confirm it but it does look like testing with that strength in the background.

I figured as much but just in case...

Tin, one more thing when looking at your stock. It's in a nice uptrend and at the bottom of it's "playing Field"

Here's a 5 min chart for you Tin. There's not much activity today. Lots of selling going on the last few days though.

Thanks for your explanation. I see what you're saying. Good luck with your trade. I can't add much for ya. As usual I have more questions than answers.

It's always nice to see the bar complete itself before you can make a good call. Do you have access to intra-day data for this chart. Even delayed data will let you see what's been going on. Speaking of weakness & strength in the background, do we just look to the last Ultra-High Volume down or up bar to find the current background? It can change so quick. For example Tin, where's your weakness that you're speaking about?

I will.....after the trading day on the weekend sometime.

Here's an example of the opposite of "end of a rising market". It's a 5 min chart of the emini S&P. It resulted in a nice 11 point jump before the end of the day.

Thank you. That makes perfect sense. So that hidden potential selling was answered with a test this basically nullifying it. I thought tests were only valid with strength in the background though?

Does my example below look like a market that is about to rise? With all these signs of weakness with weakness in the background it struck me odd that this market should take off. First I saw hidden potential selling, upthrusts, reversals, no demand. Any ideas on what I'm missing here? Could this have been accumulation rather than distribution? I kept watching for a short to come my way, finally took a small one but never saw the dropping off that you would expect with this much weakness. In the boot camp Tom Williams said that a weak bar showing up on a 15 min chart would produce weakness for 15 min. Is this what people find? Could my weakness in my example just be a bunch of temporary weaknesses that were overcome easily?

I have a quick question about volume on a test. Whcih one would be true: a) Lower than the high volume area it's testing b) Lower than the last two bars c) Just plain low, relatively speaking Also, PP what average do you use on your volume for your charts? Thanks

What is a WRB?

You're right, a fast computer is way better. I run mine on my old laptop sometimes and it's slow but on my trading desktop I've got 10+ charts going plus tradestation and all works well. This is why their 30 day money back is so important. If it doesn't work for you then send it back.

Not in my experience. I love how responsive it is when the market really gets moving. It may be your firends computer speed. An updated version of the software is supposed to be coming out in the next two weeks anyway.

This is not true. I've never had it occur for me. As long as your symbols are put in correctly it works flawlessly.

Yes VSA works with Forex. Esignal has something called indicative volume for Forex. You can still measure professional activity by this. I suggest you contact esignal about what this is and how it works.

I'm running a TradeStation strategy to trade the S&P emini. I use SetProfitTarget and SetStopLoss for my orders. As soon as the profit target is reached, lets say 1 point, the strategy shows Profit Target on the screen at that point. But in real life the price needs to reach 1 tick higher to actually get me out with the profit target. My question is if the price only gets to the profit target amount and not 1 tick higher to actually get me out, will my strategy know I'm still in, even though it's not, and set my Stop if it happens to reverse on me? Or will my strategy think I'm out and fail to set that stop? I was running on auto all month and this is only occuring to me now but this scenario hasn't actually happened for me to know for sure. Any help would be appreciated.

I don't use candles so those bullish signs elude me. Glad you can add more depth to VSA for us with your eye.

Here's a more recent Test.