Thoughts on EU — My thoughts on EU. Attached is an 8 hour chart, starting 06.00 to 14.00 (europe open through most of london), then 14.00 to 22.00 (most of US session), then the asia 8 hour sess. Today I feel in the first 8 hour session we ...

vsa with Malcolm

No probs

vsa with Malcolm

It takes time, and practice. I was the same when I started. My advice (this works for me) is to start at the highest time frame and drill down from there. Establish whether there is strength or weakness on the background at that level. Remember, ...

vsa with Malcolm

I'm not an expert, but I'll answer anyway if you'll let me. You've written strength in the background on your chart - its not just strength in the background on the same timeframe you need (in your case M5), it's strength in the background on higher ...

vsa with Malcolm

I'm interested in the PA around 1.3973, the POC on my charts. If we see a bounce and then a pullback test on low volume it would be a good long I think. But we'll let the charts tell us what to do

vsa with Malcolm

I was talking about EU with the lack of selling, but you've posted a GU 8 hour chart - were you thinking I was talking about GU?

vsa with Malcolm

I'm not one of the experienced guys but if you'll let me throw my tuppence worth in. Look at the volume on the 8 hour - not much selling here. We need to see what the US session brings but I'm not convinced we're anywhere near EORM.

vsa with Malcolm

Just been talking about this with Malc. Look at the 2 hour, we are at a support level. We need to see what happens from here. Also look at the volume (or lack of) on the upmove to 1.63. I'm still short term bearish.

vsa with Malcolm

I'm not convinced (well I wouldn't be after what I said on Friday LOL) Can you post a chart showing what you mean?

vsa with Malcolm

Replied

vsa with Malcolm

Well worded. You have a knack for explaining things well

vsa with Malcolm

Attached is Gold spot - I don't have access to the others.

vsa with Malcolm

I used to look at tests as almost signals without properly thinking what they are, where now I recognise that they are one of the most important VSA signals, especially at an obvious potential support level. I think for any newbies ...

vsa with Malcolm

Sounds about right - its not a biggie, but I think its important for newbies to understand what a test is trying to do, rather than focussing on the actual layout of the bar. The end result is the same - your example above is a hidden test, but I ...

vsa with Malcolm

I first heard it in the chart reading masterclass. He made a point of emphasising that ALL tests are on down bars, and if it looks like a test on an up bar you'll actually find drilling down a few timeframes that the test was on a smaller timeframe ...

vsa with Malcolm

That was one of the first advantages of TG for me - it makes it much easier to read. I still have difficulty reading candlesticks quickly, which is why I prefer bar charts. You might be interested in this post

vsa with Malcolm

I have edited my post above for clarity, sorry Mtm. I was skim reading and missed your, "am i right" question.

vsa with Malcolm

Interesting that although rumours over the weekend of Portugal going the way of Ireland and getting bailed out EU isn't showing signs of weakness today - this market is certainly bullish!

vsa with Malcolm

In my opinion yes, it's (potentially) a beautiful example although ideally the volume would be lower. We need to see the next bar to find out, but that would be an example where you'd place a buy limit order above that test bar - if it goes up, you ...

vsa with Malcolm

You are right - ignore candle types and concentrate on closes. A down bar is a bar where the CLOSE is lower than the previous bar.

vsa with Malcolm