MSB Charts, page-11

Crap I wish I had found your links a few months ago- would have saved me a lot of Googling! I started bingeing on Wyckoff/VSA about 4 months ago and have read most of those now- have not finished Anna Couling's VPA but so far seems the same as VSA but with some slightly different terminology for some things. I'm at the stage where I understand and find it incredibly powerful, but some things don't immediately jump out from the chart at me yet so I need to spend some time and look back through the "library" to go over concepts etc. I reckon after about 1000 more charts I'll be reading it like sheet music, but already when I check out indicators of all sorts I evaluate them through a VSA lens.

As far as Wyckoff/VSA goes, Jako (who you mentioned in one of the linked posts) is a 10 dan black belt super ninja! IMO his explanations and approach is the best on the internet. I've read through his entire Wyckoff thread and started getting involved with the Charting and Chat thread where there is a crack team of charting ninjas with experience in many different methods. Actually, HC has heaps of really good quality posters (once you find them) who are happy to share and teach all form of ASX madness. 

And doh! Nico Muselles bull/bear is EXACTLY the one I already use as one of the 5 momentum indicators behind my Power Grid Volume indicator. Yeah Pine is reasonably easy to pick up- I'm not a coder but after a few weeks of copying and modifying other peoples code I soon found I could understand the lingo well enough to get a bit more creative.

And just for MSB'ers who are being very patient with this charting chat love-fest , here is a small update to my MSB chart:

After a couple of attempts to break through the overhead resistance zone, a "No Demand" bar appeared (pink arrow), which is a VSA "sign of weakness", which are given more weight when there is also weakness in the background, and was confirmed by a down bar the following day. And MSB has not one but two major UHV selling events in the recent background (2/10 & 12/11) which tend to cast a negative influence on the price action until overcome by some consistent signs of strength and/or the appearance of a UHV buying event of some sort.

My indicators show the immediate trend is back in the red and major trend remains red, meaning there is still a bit to play out before we could call the two bar reversal on the 21/12 & 24/12 a definite bottom just yet. This is where it gets interesting though- for some reason there has been a bit of buying pressure starting around the $1.28-$1.30 mark- not huge but at these low volumes enough to keep it bouncing up and is similar to the price action and level at the end of November (circled). And even though price dropped yesterday, the high close indicates there was some buying pressure there (also called a bullish pin bar in some circles).  Problem is at these low volume levels it doesn't take much selling to "manage" the price (cap or pressure the price down), and there is probably a bit of selling from below as well (profit taking from recent buyers at $1-$1.20). But perhaps we could be seeing some short positions covering and taking profit at these levels also, maybe there was enough buying momentum in the recent move up to convince some short sellers to cover at these levels. But I'm not holding my breath for a short squeeze- from what I've seen on PLS, MYX, VOC for example, the large professional shorts are way more patient and clever at managing their exits than mostly given credit for.

So while the several oscillator indicators at the bottom of my chart (my Spaghetti indicator) are all rolling downwards, the momentum indicators are still neutral to weak, hinting that this latest move may be setting up some sideways range bound action for a little while, or best case finding a higher low before setting off for another attack at the overhead resistance. Worst case of course is price keeps walking down and right through the last low- but really at the moment it looks more like MSB is spinning its wheels a bit while we wait for something to change and give it some traction. We shall see!

Good luck everyone.