It's worth doing some research into risk:reward if you haven't already. I used to work exactly as you are now, but it's not a good way to grow your capital. You need a few 2:1 or 3:1 wins to ensure that any 1:1 losses (which by the nature of stop ...

vsa with Malcolm

Evening Malc - I hope your driving's better than your chart reading

vsa with Malcolm

But your 50 to 100 pips down was at 1.3850 or so which would mean going to 1.3800 or 1.3750, which in my eyes would cost them too much (breaching support at 1.3800 to 1.3820). In fact reading that I stand corrected, 50 pips I could cope with, 100 ...

vsa with Malcolm

Predictions for tomorrow: Attached my new favourite chart - 8 hour starting at 06.00. First bar is Europe and UK morning session, 2nd bar is the US plus afternoon Europe and UK, 3rd bar is Asia. The upmove today had some selling in it but it appears ...

vsa with Malcolm

I like your blog Liam, I'm a massive fan of logging your thoughts and trades. I'm keeping a wordpress blog as well which only Malcolm has seen so far but hopefully once I've tidied it up a little I'll open it up to the public. Out of interest why ...

vsa with Malcolm

If I was a gambling man, I'd suggest based on the obvious and understandable supply in the wide spread up bar, that we could see a shakeout to wipe out the breakout traders. The SM is obviously bullish, and there is no real good reason why they ...

vsa with Malcolm

My argument is that for them to do that, they would have had to push down through some serious support which would have cost them too much money. To shakeout the weak holders would have required some serious selling to push through the support which ...

vsa with Malcolm

I agree with that, however I tend to place greater importance on cumulative volume over the last few days, the reason being as we've seen this week setups can emerge over a few days. My charts were showing me the cumulative POC as sitting almost ...

vsa with Malcolm

Forgive me for debating this, as I suspect you're more experienced than I am - but I'm not 100% convinced about that. I think the last few weeks have shown a setup - supply has been drying up. The SM have made their medium term intentions clear, so ...

vsa with Malcolm

Just realised I wrote resistance when I meant support! Sorry LOL

vsa with Malcolm

My only problem with your entry is that it (and prior price action in the previous few hours) wasn't at a big enough support level. The price had what I'd describe as 'ranging potential'. I'd have waited until the price showed strength and testing ...

vsa with Malcolm

For beginners I personally find it's slightly easier - greater visibility of ultra high volume bars that stand out a mile. Have a look at the daily RBS chart for examples. I use VSA to manage my SIPP where I can only buy new shares or sell existing ...

vsa with Malcolm

A 2 bar reversal on the hourly where the down bar completely encloses the upbar isn't strength. There was selling on that up bar and clear weakness in the background. I don't follow GU but I notice the price is back down to the POC. I personally ...

vsa with Malcolm

The key here was the background - see my post from late last night. Strength was in the background (monthly, weekly, daily, 2h - you name it) and supply had been dried up (certainly to a manageable level). With news such as this you were going to ...

vsa with Malcolm

This VSA lark's useless

vsa with Malcolm

Its human nature for the herd to sell at what they believe to be the top - I used to be the same. I'm surprised its not higher to be honest. I'll be amazed when we hit 1.42 if its not 80% or above.

vsa with Malcolm

Tomorrow — OK time for predictions I've posted up the daily chart with adjusted volumes (shifted left one day and todays volume is obviously unknown at present) and the 2 hour chart. I've highlighted that we've pushed through the previous ...

vsa with Malcolm

I have been re-reading through this thread as despite being on Forex factory for 2 years now, I've been away from the forum for a large part of last year due to day job commitments (major shareholder sold out) and I'm now spending the next month or ...

vsa with Malcolm

Don't worry about it, we've all been there. The important thing is to learn from mistakes, and make sure emotion is removed (e.g. no revenge trades!).

vsa with Malcolm

Futures shows it pretty well - decreasing volume on the down move. I'm going to stick my neck out and suggest ADP pushes us right through any lingering supply and northwards

vsa with Malcolm