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TinGull

[VSA] Volume Spread Analysis Part I

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You are in great company, Virgin Boss is dyslexic, infact folks with dyslexia possess great business acumen;)

 

 

BTW do you employ higher timeframe charts to establish trend etc (say 15min, 30mim or 60min) and then trade off 3min charts or just focus entirely on price/vol relationships on 3min charts.

 

 

Price on 3 minute chart, don't have the acumen for more than one chart. :o Obvious up trend this morning, low from yesterdays close, higher high on opening bar, higher low on first few bars, then higher high = uptrend.

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Ed-

Here is the chart, I see increasing Volume and BOOM- out it went! 5 Pips from my target!

[ATTACH]5004[/ATTACH]

 

Hi Sledge - I have drawn in 4 vertical lines, just so I can line up the price and volume and also 2 horizontal lines, where the price topped out previously. Also, this is all with the benefit of hindsight, and it is easy after the event,

 

The move up marked with the 1st vertical line is on increasing volume, it clears the lower of the horizontal lines but look where it closes - pretty much on the low of the price bar - this is evidence of supply (weakness entering on an up bar).

 

The next bar is still high relative volume, but declining a little, the close is strong but no new high made - there is demand there but it is meeting supply.

 

The third marked bar, still on high volume, no new high, closes on its low, supply overcoming demand.

 

The final marked bar, highest volume, makes a new high marginally but the close is in the middle. Supply is overcoming demand.

 

Also, there is a previous top marked by the upper horizontal line - supply seems to be entering ahead of this area where supply previously overcame demand. 4 bars attempted to go higher, each time the entire push was retraced in the same bar (bar 1) or on the following bar - this is not evidence of demand absorbing the supply.

 

Thats how I see it, but I am a learner too!

gbp.thumb.jpg.c8efe19ae9ecc6c88f408be84f3e5556.jpg

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OK All-

Still in my infancy of learning VSA but I have a question about GBP/USD this AM for anyone who may have access to charts- the bars in question are easy as cake to see.

 

This week the 1 HR Trendline was textbook upward moving. It touched the line over the last few days in an astonishing manner. All signs pointed towards my 1.9945 target would be hit this AM. Then the bottom fell out.

 

My question to the VSA Pro's is Why? My theories are:

1. It is Friday and Extreme Profit Taking went on and the Non-Farm Payroll was the perfect news item to transfer to weak holders (get them into shorts for the move and the rest of the day.)

2. This is a Friday Markdown for a next week rally.

 

My concern is that their appeared to be no weakness in the background- no abnormal movements- just nice accumulation/distribution over the week. Then all hell broke loose this morning.

 

Am I reading this correctly in either of my above theories or did I just get the beatdown of a lifetime 5 pips short of my target?

 

Here's a chart. TradeGuider threw up a bunch of weak signals before it broke down. Others may comment on it now that there's a chart up. It's a 30min BTW.

GBP.thumb.jpg.e992728149a85fe7a65df36b76b8f79d.jpg

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Ed and JJ-

Thank you both. I REALLY wish I could afford the investment in Tradeguider. Or at the very least- to use a Demo for like 30 days just to get the feel.

 

Sadly, right now I am trying to learn VSA the old fashioned way- no Tradeguider to help me- just learning to read the bars/volume/charts. 99% of the time I am doing well, but today PROVED to me that I have TONS to learn still- with both the information you gave me, it shows I have no where near the grasp on the VSA subject that I thought I did. Not to say I thought I was any expert by a longshot- but this was a huge wakeup call for me to keep reading and Re-reading "Master the Markets"

 

It is a slow read as it is so packed with information- at least I wised up over the last 7 months and am only trying to learn it on one type of trade- you should have seen me trying theories on 7 different currencies (unaware that they each have their own "personality.")

 

Much thanks to you both for pointing out the (now) obvious! Man I love this board!

Sledge

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Sledge, tradeguider did a free event yesterday and they called this one. Check out the resistance line they have drawn in there. They should be posting that recording soon. You may be able to learn something from it.

5aa70e38ae041_tguiderpound.thumb.jpg.26a110404ed478190b12d57f13ba8f2d.jpg

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What did they know and when did they know it? :

 

Hello ev1. Interesting chart here.

 

Let's get the some stuff out the way first. Note the narrow Profile. This happens sometimes and when it does, it is obviously less akin to a Market Profile than usual. However, the fact that it is narrow allows us to be prepared for Volatility. (see posts on this in MP thread). Dotted black lines are Psych levels. Blue lines are based on Initial Balance Range (first 30 min.) see any source on Market Profile for more information.

 

Okay, Let's see what we have here. On the left side of the chart there is a nice buy set-up as we get a No Supply within the range of a Dark WRB. The more important thing here is that this is a time where the Smart Money is doing more BUYING than SELLING. That is, they are getting net long during this period. Check out the Test candle just prior to the burst in price to the upside. They wanted to make sure the path of least resistance was up when the news came out. Why? Maybe so they could sell into it.

 

Now we have our Ultra Wide Spread bar on Ultra High Volume. This candle closes up, but it closes below its midpoint. Clearly if all the volume was buying the candle should be closing on or near its highs. What is interesting is that price gets rejected just below the Pysch level of 1.950. On a closing basis, price does not make it past the IBCRH: Initial Balance Containment Range High (Initial Balance Range *x + Initial Balance High). Initial Balance= 0230 hrs - 0300 hrs per Mark Fisher.

 

Anyway, the next bar is down. How can this bar be down if all the volume on the prior bar was buying? The very next bar is No Demand. Note that this comes within the body of the WRB created by the Wide Spread up candle. This is THE place to get short. (I did not :( ). This is trading the reaction to the reaction. The Wide Spread Up Candle is the reaction and the subsequent down move is the reaction to the reaction. The Smart Money sold into the price rise as both profit taking and to get net short.

 

attachment.php?attachmentid=5011&stc=1&d=1201900144

 

So it appears that the Big Boys (BBs) where buying in anticipation of the news only to sell into it and drive the market down. To do this, wouldn't they have to have some idea of the news prior to release?

 

Yes Virginia, the markets are manipulated.

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Sadly, right now I am trying to learn VSA the old fashioned way- no Tradeguider to help me- just learning to read the bars/volume/charts. 99% of the time I am doing well, but today PROVED to me that I have TONS to learn still

 

There are those on this thread that use TG and those that don't. Maybe it takes a bit longer to learn without TG, but after 7 months you are well on the way now. Might not feel like it sometimes, but you are ("they say the darkest hour is right before the dawn").

 

I have said it before on this thread and will continue to do so, but studying up on Wyckoff analysis made a big difference for me. If nothing else*, using broader Wyckoff analysis will highlight what the 'background' is. I never found the 'playing field' concept useful (but many others do - different strokes for different folks) and so found getting a grasp on the 'background' (which is critical) difficult.

 

More to learn? Certainly is for me too.

 

 

 

Man I love this board!

 

Me too. But don't forget to follow PivotProfiler's (an others) links to the dbphoenix threads; these can be helpful too.

 

-----------

* "If nothing else" - This is a stupid thing for me to to say about Wyckoff analysis, there is a HUGE amount to be gained by using Wyckoff's approaches.

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Hi

 

It seems that TG are offering an e-copy of Master the Markets (full version and not just part thereof) for a limited period for free.

 

http://www.tradeguider.com/book/

 

Unfortunately I have already paid for both the original "Undeclared Secrets of the stockmarket" and the later "Master the markets" at full price !

 

However an e-version is still handy for having on a pc - but you can't print it

 

Primavara

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Hi

 

It seems that TG are offering an e-copy of Master the Markets (full version and not just part thereof) for a limited period for free.

 

http://www.tradeguider.com/book/

 

Unfortunately I have already paid for both the original "Undeclared Secrets of the stockmarket" and the later "Master the markets" at full price !

 

However an e-version is still handy for having on a pc - but you can't print it

 

Primavara

 

A printable version is available at one of tguiders affiliates, tradethetruth dot com under the downloads section. This one's been available free for a couple years there.

 

Mr.Ed, if someone has never had a look at Wycoff before what material would you guider them to get started with?

I like your attitude of different strokes for different folks. People have got to trade the way they feel comfortable, with tools that suit them.

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PP, you marked the bar pointed out in the attached chart as 'no demand'. Technically it's volume is less than the previous two but it's still pretty high, relatively speaking. Could that still be considered no demand then?

This may be acceptable volume in FX to define a no demand, I am relatively new with currencies so I was hoping you could confirm this level of volume is ok to go short on.

thanks.

euro.jpg.768e13bd7193ed28812439649ad449d1.jpg

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Hands down this is the best thread on the net. I would like to thank all the regular contributors for their inputs. I strongly believe in the concept of VSA and I think its one of the best approaches to the market.

 

Lately I have been doing much more testing than normal on the data generated by stock index futures. I have come up with an interesting finding that has deep implications for my VSA analysis. I have come to this conclusion a 34 minute bar can be decisively different than a 30 minute bar. If this can happen on a 30m to 34m comparison it can happen on any time frame. Then I took it a step further and tested starting at 10m all the way up 60m bars. Meaning more specifically I tested a 11m bar, 12m,13m, 14m, 15m, all the way up to 60m bar. This has opened a can of worms for me. Certain bar patterns can occur in odd numbers for example a 53m chart. For practical reasons its not possible the keep tabs on 50 different charts. My question is this. Since a big part of VSA judges the close of the bar in relation to the high for an up bar or low for a down bar. For example say a up 30m bar that closes well off its high must of had selling inside it. But what if the 34m bar some how closes right near its high. This causes me great confusion.

 

One idea is to not use time based charts but transaction volume based charts (tick charts). But the same problem can take place there as well 500 tick compared to 550 tick could be quite different. My question to all you VSA experts is what did the creator of VSA have to say about this phenomenon? Thanks for the help.

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Hands down this is the best thread on the net. I would like to thank all the regular contributors for their inputs. I strongly believe in the concept of VSA and I think its one of the best approaches to the market.

 

Lately I have been doing much more testing than normal on the data generated by stock index futures. I have come up with an interesting finding that has deep implications for my VSA analysis. I have come to this conclusion a 34 minute bar can be decisively different than a 30 minute bar. If this can happen on a 30m to 34m comparison it can happen on any time frame. Then I took it a step further and tested starting at 10m all the way up 60m bars. Meaning more specifically I tested a 11m bar, 12m,13m, 14m, 15m, all the way up to 60m bar. This has opened a can of worms for me. Certain bar patterns can occur in odd numbers for example a 53m chart. For practical reasons its not possible the keep tabs on 50 different charts. My question is this. Since a big part of VSA judges the close of the bar in relation to the high for an up bar or low for a down bar. For example say a up 30m bar that closes well off its high must of had selling inside it. But what if the 34m bar some how closes right near its high. This causes me great confusion.

 

One idea is to not use time based charts but transaction volume based charts (tick charts). But the same problem can take place there as well 500 tick compared to 550 tick could be quite different. My question to all you VSA experts is what did the creator of VSA have to say about this phenomenon? Thanks for the help.

 

vsa works on all time frames and in all markets. had the same question as you posed above, albeit not as well thought out.

 

the answer for was simple, pick one time frame and trade it. for me it's a 3 minute chart, it fits both my profit objective, one point for x number of contracts, and schedule, only have 1 hour in the morning to trade.

 

if one can watch the screen all day, then perhaps a larger time frame works, one can start with say one or two contracts and go for more points.

 

what really fixed my head and thus trading was the course i took with joel pozen, he's the real deal.

 

good luck!

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PP, you marked the bar pointed out in the attached chart as 'no demand'. Technically it's volume is less than the previous two but it's still pretty high, relatively speaking. Could that still be considered no demand then?

This may be acceptable volume in FX to define a no demand, I am relatively new with currencies so I was hoping you could confirm this level of volume is ok to go short on.

thanks.

 

 

To answer your question, VSA looks at volume in two ways: relatively and absolutely.

 

The technical definition of No Demand would include volume less than the previous two volume bars. Therefore, even if the volume is (absolutely) high, it can still be low if it is less than the previous two. There are times when a volume bar is the highest volume bar that can be seen on the chart, and this would imply high to ultra high volume on a relative basis.

 

Although I use the term absolute, VSA doesn't actually care about the exact number. In other words, you are correct that that volume bar is high in absolute terms (whatever the actual number is). In fact, had that bar been a Test, we would say the Test failed due to high volume. Even though the volume would still be less than the previous two.

 

Therein lies the key: when looking at No Demand/No Supply the relative nature of volume is of most import. When looking at Test, both relative and absolute levels need to be taken into account. Also keep in mind the basic bullish/bearish volume tenets.

 

* Bullish volume is increasing volume on Up closes.

* Bullish volume is decreasing volume on Down closes.

* Bearish volume is increasing volume on Down closes.

* Bearish volume is decreasing volume on Up closes.

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Therein lies the key: when looking at No Demand/No Supply the relative nature of volume is of most import. When looking at Test, both relative and absolute levels need to be taken into account. Also keep in mind the basic bullish/bearish volume tenets.

 

* Bullish volume is increasing volume on Up closes.

* Bullish volume is decreasing volume on Down closes.

* Bearish volume is increasing volume on Down closes.

* Bearish volume is decreasing volume on Up closes.

 

Thank you for your response. It makes sense for no demand that if volume is less than the previous two then there's obviously less demand on this bar than two bars ago no matter what the actual number is.

I appreciate your time.

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Mr.Ed, if someone has never had a look at Wycoff before what material would you guider them to get started with?

 

Hi JJ - There is not an abundance of good Wyckoff material on the net, only a few sites.

 

There is the Yahoo group run by Gassah (who contributes to this board and this thread), this is at:

http://finance.groups.yahoo.com/group/Wyckoff-SMI/

 

There is a broker site with material, at:

http://www.ltg-trading.com/site%20map.htm

with archives at

http://www.ltg-trading.com/archives.htm

 

Gassah put me onto this info at:

http://siliconinvestor.advfn.com/subject.aspx?subjectid=54872

 

I learnt a lot on Wyckoff from a poster on other forums, goes by the name of 'motorway' on Australian Stock Forums and The Chartist forums. While the specifics and charts of what he talks about refer to Australian equities, most of the posts are more to do with principles, which are of course applicable to any liquid, exchange-trade instrument.

If you search for his name on

http://www.aussiestockforums.com/

and

http://www.thechartist.com.au/forum/ubbthreads.php

you will get great info.

 

Motorway put me onto this website, which introduces Wyckoff really well, in a straightforward manner:

http://www.stockmarket-operator.com/

Really good as introductory material.

 

Nearly forget, there are many articles around by Hank Pruden, do a search for his name and there are quite a few pieces. He has written a book recently, which I haven't read yet, and runs a course in San Francisco.

Also, articles around by Coppola and Forte. (Sorry I don't have links, but they are easy to find).

 

 

 

OK, paid resources are even fewer.

 

There are books by Richard Wyckoff himself, check them out at Amazon or wherever. There is his 'Day Traders Bible' which can be found as a free download around the place too.

 

There is a book by Jack Hutson: Charting the Stockmarket, The Wyckoff Method. I found it a difficult read, probably because I thought it was an introductory text, or beginners text. It is much more than that and as your knowledge grows of Wyckoff it pays re- and re-reading, there is a lot in it. This book is really cheap, its $14.95 at Amazon and its value is much much more than the better marketed technical analysis books out there.

 

Then finally there is the Wyckoff course run by the Stock Market Institute, at:

http://wyckoffstockmarketinstitute.com/

 

There are free resources on this site at

http://wyckoffstockmarketinstitute.com/corner.htm

The article at

http://wyckoffstockmarketinstitute.com/goal_article.htm

is great introductory material.

 

Thats it - if you find other resources, post them up!

Edited by mister ed

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I have come to this conclusion a 34 minute bar can be decisively different than a 30 minute bar. If this can happen on a 30m to 34m comparison it can happen on any time frame.

 

My question to all you VSA experts is what did the creator of VSA have to say about this phenomenon? Thanks for the help.

 

I cant speak for the experts, but I can understand where you are coming from with this query. My post here is not meant to be a definitive answer, but as a start for more input on the challenge you raise.

 

A bar/candle chart like you describe is taking the data from a specific time period, so by then sampling a different time period the information is going to be different.

 

I am not really sure if Wyckoff ever addressed this problem specifically, when he created this form of analysis there were no computer generated charts, if you wanted intra-day charts you kept them by hand. So this problem is a problem we have created for ourselves!

 

I don't think there is any one theoretically correct answer. I suppose you could say do some back- and forward-testing and find the time frame that gives the best results. I have a problem with back-testing and optimising ... I think it can be best summed up in what someone has said to me, and I paraphrase, the smart money will hide in different timeframes, and will always be shifting.

 

I think the answers are more practical.

 

First, find a timeframe for the bars/candles that makes sense for you (as you say, you can also use tick charts - and there are other bases for bar/candle divisions too). This is not just what you are 'comfortable' with, it must fit with what it is you are trying to achieve and how you wish to trade. A day trader is probably not going to find a daily HLC useful by itself. An investor is not likely to find a 3-minute candle useful. Also, if you are trading for, say, 10 points swings in the ES you are most likely going to use a different bar/candle frame than someone trading for say 5 point swings, or someone trading for 5 tics.

 

Use more than one period - a lot of traders use a very short-term, a medium term, and a long term chart, periodically switching between them throughout the session. Which 3 periods are best? See previous paragraph!

 

Some suggest scaling up the periods by a factor of 3 or 4. So, use a 5 min, 15 minute, and 45 minute, and so on.

 

Also, there are point and figure charts, which don't create new bars due to the passing of some specified period of time, or number of ticks, etc. they respond only to changing buy and sell dynamics. This is not the place to go into figure charts, but they can be either an alternative or an adjunct to bar/candle charts.

 

Hope this helps, or at least, doesn't hinder!

Edited by mister ed

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Hands down this is the best thread on the net. I would like to thank all the regular contributors for their inputs. I strongly believe in the concept of VSA and I think its one of the best approaches to the market.

 

Lately I have been doing much more testing than normal on the data generated by stock index futures. I have come up with an interesting finding that has deep implications for my VSA analysis. I have come to this conclusion a 34 minute bar can be decisively different than a 30 minute bar. If this can happen on a 30m to 34m comparison it can happen on any time frame. Then I took it a step further and tested starting at 10m all the way up 60m bars. Meaning more specifically I tested a 11m bar, 12m,13m, 14m, 15m, all the way up to 60m bar. This has opened a can of worms for me. Certain bar patterns can occur in odd numbers for example a 53m chart. For practical reasons its not possible the keep tabs on 50 different charts. My question is this. Since a big part of VSA judges the close of the bar in relation to the high for an up bar or low for a down bar. For example say a up 30m bar that closes well off its high must of had selling inside it. But what if the 34m bar some how closes right near its high. This causes me great confusion.

 

One idea is to not use time based charts but transaction volume based charts (tick charts). But the same problem can take place there as well 500 tick compared to 550 tick could be quite different. My question to all you VSA experts is what did the creator of VSA have to say about this phenomenon? Thanks for the help.

 

LOL. Not exactly a new revelation. :)

 

ACT AS IF.

 

Of course, as you add time to bar you change the way it looks. The close on a 15 minute bar will not necessarily be the same as the close on an 18 minute bar: there's three more minutes of price action in it.

 

The first thing I would say, is you have to trade what you see. If you use 16 minute bars than you base your trades off of what is there. You can not be asking yourself what does this look like on a 19 minute chart? Now, you can use multiple timeframes but make better trades but that is not the same as questioning THE timeframe you use.

 

There is a particular Price Action trader who advocates using three timeframes to follow the BBs (Big Boys): 8,13,21. These are not traditional timeframes. They are Fib numbers, and they are not default timeframes on most software packages. He believes in them and thus uses them. So the point is, find the timeframe or frames that suit your needs and beliefs.

 

One of the tenets of VSA is that there are professional at work in the markets and they are on VARIOUS timeframes. We can argue how many are trading off a 16 minute chart because that is a harmonic number related to an octave of music (Murrey Math) versus a 15 minute chart. But the real question is are you, the one who's money is being put at risk, comfortable trading on a 16 minute knowing that less traditional times don't change the story, but do make it fuzzy?

 

Now, as much as I love elements of Murrey Math and Fibonacci, I have a hard time believing that the Smart Money is using a 19 minute (cycle of time number & Murrey's universal number rounded down) timeframe as opposed to a 15 minute chart. But if I wanted to use a 19 minute, I would simply ACT AS IF (they did).

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. For example say a up 30m bar that closes well off its high must of had selling inside it. But what if the 34m bar some how closes right near its high. This causes me great confusion.

.

 

I can relate to what you are experiencing, having been through the analysis process myself. The same can be applied to candlestick chart reading, there are going to be lot more engulfing bars, hammers, hanging man etc on a 1min chart than on a 30min chart in say a 6hr period. It is how price is behaving at certain levels and with what volume and what result that is important.

Would recommend sites and comments by Dbphoenix:

Most Indicators are useless - why does anyone bother with them? - Page 10 - T2W Day Trading & Forex Forums

Also check out other threads by him:

Price, (Volume), Support, Resistance, Demand, Supply . . . - T2W Day Trading & Forex Forums

 

The key is to understand the principles of Price/Vol (Wyckoff) .

Here are some quotes "Those who perseverate on bar intervals are likely using price bars as indicators, just as many people use candlesticks as indicators. The bar interval is irrelevant. What matters is the movement of price. Any bar interval beyond a tick is a summary. What sense is there is in waiting for, say, a 5m bar to "close", much less 10 or 15 or 30? Are professional traders 'round the world waiting to act according to what price does in five minutes, or are they acting on what price is doing right now?

What matters is the point at which price hits S/R and what happens there. It makes no sense to me to use an hourly chart or whatever and wait up to an hour to see what happens. If traders are reacting to R, why wait? Waiting requires a much wider stop."

 

 

 

2. Whether one TimeFrame "contradicts" another or not has less to do with price action and more with the choices one makes in displaying it. Consider that there are no contradictions among TFs, that price simply moves from one area to another. If you trade, for example, support and resistance, then questions of "trend" become largely irrelevant. If you attempt to trade trend without regard to support and resistance, then, , focus on your chosen interval and ignore everything else.

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I have a question about relational instruments and volume.

 

We all agree that the ES is the big brother of the mini futures contracts right?

The other index futures tend to follow the S&P right?

 

Ok now, lets say we're trading the Nasdaq mini (NQ). Will we be given the clues in the NQ's volume about what direction it's going to take even if it's being led along by the S&P? Or will we need to look at the ES direction and volume to determine the directin of the NQ? You see what I'm saying?

Are any of the indexes independant aside from the big brother?

I've noticed the Dow and Nasdaq mini's tend to be delayed reactions to the ES. And the volume on the YM and NQ don't speak nearly as loudly as to what is going on in terms of supply and demand as the ES does.

 

Anyone with experience in this matter?

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Hello lote_tree, if you have read this thread you would see that I also trade the FTSE future and I have managed to bag some pts since I started posting my charts.

 

Yes, in an ideal world we would like to have cash mkt (live) intraday volume to help us trade but until that is available I believe the futures mkt volume is the next-best-thing. There is EOD volume available for the FTSE cash index.

 

I have also noticed frequent volume 'spikes' in the FTSE future which is normally followed by a good size move. I can only assume that the in-the-know traders have some advance notice of some important news and then they pile into (or go short) the FTSE future contract.

 

The main difference between cash and future mkt which has been previously discussed is 'testing' where in the cash mkt it needs to be low to be successful, but if the futures traders see a successful 'cash' test they then pile in, which can lead to a high volume futures test.

 

As somebody else suggested, (if it can be done) you could add the intraday volume of the FTSE's say 15 largest companies by mkt cap ie BP, Shell, Glaxo, Rio, Bats, Vodafone and the big banks etc.

 

Just out of interest, why do you use a 7 min timeframe ? I usually have a range of various timeframes open, from 3mins to 60 min.

 

Darren

 

Hi Darren,

 

I use odd time intervals such as 7 minute charts to see if I can get an edge in some way. However, when price approaches pivot, S/R, PDH, PDL, POC, VAH and VAL levels I mainly jump down to a 1 minute chart and start using VSA for entry points.

 

I’m still learning and in the early stages of developing a system combining both MP and VSA techniques.

 

I’ve been following the FTSE 100 Futures market for nearly a year. I noticed your trade that you posted in December with the 12pm BOE spike that stopped you out by 0.5 pt. It made me chuckle because I remember that day very well.

 

I was actually long in the futures market prior to the announcement and tried to close my position when it busted through the 6600 level. I knew I was in trouble as soon as I saw the market going crazy above the 6600 level. Anyway, let’s just say I got impaled on that spike! lol

 

I stay out of important announcement days now. It feels like gambling if I’m in a position prior to an important announcement. And I hate gambling!

 

Btw, has anyone managed to merge MP and VSA techniques together apart from SoulTrader? If so, what results are you getting?

 

SoulTrader, do you have anymore setups that we can have a look at with your MP and VSA combo? Your work is great!

 

Thanks.

 

Naeem

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Btw, has anyone managed to merge MP and VSA techniques together apart from SoulTrader? If so, what results are you getting?

 

Naeem

 

 

PivotProfiler has combined Market profile ,( albeit calculated levels) with VSA and in the context of previous Wide Range Bars quite effectively. Check out his posts on this thread.

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    • GBPUSD Continues To Faces Corrective Recovery Risk   GBPUSD continues to face corrective recovery risk as it eyes further bullishness. Support comes in at 1.2100 with a turn below that level shifting focus to the 1.2050 level. Further down, support resides at the 1.2000 level where a break will turn attention to the 1.1950 level. Further down, support lies at the 1.1900 level. On the upside, resistance stands at the 1.2200 with a turn above here allowing for additional strength to build up towards the 1.2250 level. Further out, resistance stands at the 1.2300 level followed by the 1.2350 level. On the whole, GBPUSD retains its corrective upside pressure    
    • havent done any crypto withdrawals or deposits, maybe support can answer that... Im more if a traditional trader, straight up regular connection tbh. 
    • Date : 19th August 2019. Events to Look Out for This Week. Trade worries remain and are expected to keep flip-flopping between risk-off and risk-back-on sentiment. Hopes for more central bank stimulus vies with fears that a number of major economies are simultaneously heading for recession, with a number of developing-world economies with high Dollar debt levels particularly exposed to the shifting financial cycle. Given these fears, further conciliatory remarks are likely from both China and the US with regard to their trade spat. Nevertheless, next week the economic calendar also focuses on the PMI releases globally.Monday – 19 August 2019   Consumer Price Index and Core (EUR, GMT 09:00) – The Euro Area CPI for July is expected to hold at 1.1%y/y in the final July reading from 1.3%y/y in June. Energy price inflation was clearly largely to blame and the core rate fell back to just 0.9%y/y from 1.1%y/y in the previous month. The core is anticipated to remain unchanged as well. With growth slowing down and the improvement on the labour market starting to fizzle out, chances are that inflation will continue to undershoot the ECB’s target range, thus adding to arguments for a comprehensive easing package in September. Tuesday – 20 August 2019   Monetary Policy Meeting Minutes (AUD, GMT 01:30) – The RBA left rates on hold in its last meeting, after back-to-back rate cuts in June and July, which put the cash rate at a record low of 1.00%, while Governor Lowe said that more easing measures could be needed. Minutes are expected to shed further light regarding future easing stance. Manufacturing Sales (CAD, GMT 12:30) – Manufacturing sales are anticipated to grow 2.0% in June after a 1.6% rebound in shipment values was revealed during May and following a 0.4% decline in April. The surge in transport equipment sales is consistent with the improving economy and as such fits with the BoC’s overall view that the economy is improving after temporary weakness in Q4/Q1. Wednesday – 21 August 2019   Consumer Price Index (CAD, GMT 12:30) – Canada’s CPI did not challenge the outlook for steady BoC policy this year. CPI slowed to a 2.0% y/y pace in June from the lofty 2.4% y/y clip in May. Inflation remains around the 2 percent target, with some recent upward pressure from higher food and automobile prices. Core measures of inflation are also close to 2 percent. Even though CPI inflation will likely dip this year because of the dynamics of gasoline prices and some other temporary factors, the annual and monthly numbers for July are expected to remain steady. As slack in the economy is absorbed and these temporary effects wane, inflation is expected to return sustainably to 2 percent by mid-2020. FOMC Minutes (USD, GMT 18:00) – The FOMC minutes, similar to the ECB Reports, provide an assessment as regards the views of the Fed’s policymakers about the interest-setter’s future stance and are usually a cause for FX turbulence. Thursday – 22 August 2019   Jackson Hole Symposium – Day 1 Services and Manufacturing PMI (EUR, GMT 07:30-08:00) – July PMI readings highlighted manufacturing weakness. This picture is likely to be seen again in the preliminary readings for August, as Manufacturing PMI has been forecast at 46.3 from 46.5 last month, still down from 47.6 in June, and indicates a deepening recession in a sector that has been hit very hard by global trade tensions and no-deal Brexit risks. Meanwhile Services PMI is expected to fall to 52.7 from 53.2. Services and Manufacturing PMI (USD, GMT 13:45) – Preliminary Manufacturing are expected to grow in August, to 51.0 from 50.4, as Services PMIs are likely to fall to 51.7 from 53. New Zealand Retail Sales (NZD, GMT 22:45) – Usually considered an index of consumer confidence and overall consumption in the economy, higher retail sales point to higher consumption and hence higher economic growth which is good for the currency. Friday- 23 August 2019   Jackson Hole Symposium – Day 2 Retail Sales ex Autos (CAD, GMT 12:30) – Retail sales are expected to have decreased in Canada, with consensus forecasts suggesting a -0.5% m/m decline should be registered in June and an unchanged ex-autos component at 0.3%. In May, Retail sales were disappointing, falling 0.1% for total sales and declining 0.3% for the ex-autos component. The decline in sales was driven by a 2.0% tumble in food and beverage stores. The report casts some doubt on the resiliency of the consumer sector to the ongoing parade of worrisome geopolitical and trade developments. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • AUDUSD Market Dragged Lower on Bears Dominance   AUDUSD Price Analysis – August 15 The bears were in full control moving the market lower in the prior session, although in the present session we see the pair found buyers around the level at 0.6748 for the 4th day in a row while the pairs bear dominance is evident falling to lowest close since the beginning of the year.   Key Levels Resistance Levels: 0.7297, 0.7207, 0.7085 Support Levels: 0.6748, 0.6676, 0.6620   AUDUSD long term Trend: Bearish In the bigger picture of the daily time frame, the decline from the level at 0.7207 (high) is seen as resuming the long term downtrend from 0.7297 (February high). Firm break of the level at 0.6876 (low) should confirm this bearish view.   On observation, further fall may be seen to the level at 0.6620 (low) next. On the upside, the break of the level at 0.7085 resistance is needed to be the first sign of medium-term bottoming. Otherwise, outlook will remain bearish even in case of a strong rebound.     AUDUSD short term Trend: Ranging On the flip side of the 4-hour chart, the AUDUSD is staying in consolidation from the level at 0.6676 and it’s intraday bias remains neutral first. On the upside, the break of the level at 0.6827 will extend the rebound.   But upside should be limited below the level at 0.6909 support turned resistance to bring fall resumption. On the downside, the break of the level at 0.6676 may target 100% projections from the level at 0.7085 to 0.6827 from 0.7085 at 0.6620 level reflecting on the daily chart.
    • EURJPY Approached Recent Swing Lows, Likely to Breach the Low of the Year on the Level at 117.50   EURJPY Price Analysis – August 16   The pair depreciated again in value against the Japanese Yen. The currency pair during the mid-week breached both the upper and lower horizontal lines on the moving average 5 and 13 while completing another lap on the low in today’s session towards the low level at 117.50.     Key Levels   Resistance Levels: 123.01, 121.40, 119.91   Support Levels: 117.50, 117.00, 114.84   EURJPY Long term Trend: Bearish The Daily time frame displays the EURJPY at the low, showing the pair is also testing a swing area on the level at the 117.50 to the level at 118.16 below the moving average 5 areas. The price attempted to dip below the area on August 12 to the low for the year on the level at 117.50, but could not keep the momentum going. The swing area was reestablished as support on August 13 and again today   However, buyers are trying to lean against the low level at 117.50, on the retest and hoping for a quick bounce. The trend is showing a bearish outlook in the medium and long term.   EURJPY Short term Trend: Ranging On its Intraday, the bias in EURJPY remains neutral for the moment. With the level of 119.91 minor resistance intact, further decline is in favor. Although a break of the level at 117.50 will resume a large downtrend to the level at 114.84 support next.   However, on the break of 119.91 resistance will indicate short term bottoming. A stronger rebound should be seen to the horizontal resistance line now at 121.40.
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