Tunnel Vision. Independent Signals & Positioning Recommendations.

hi, i enter the eur/yen short at 142.17

after making about 50 pips profit i set my SL to breakeven.
Now my position got stopped out at BE. Can anyone give some advice on what should I have done.

Jonny,

I think u must be patience to let it turn first. I have put a market order at 141.50 (short) with SL at last high at 142.45. When market move it way down, order will be activated. Dont be so quick to short at first turn. Let the market decide itself.

what do you mean let it turn?

I entered when the day reversal pattern occured. 2 days ago.
Also can you explain why did u use the number 141.50
thanks

Ok, i got another indicator which is something like ACD pivot zone and weekly pivot central point. 141.50 is actually the weekly pivot pt. Any move below that pt show a bearish sign. I use discretion for entries.

Even if there is reversal sign on the daily chart, do not take the trade 1st till u see maybe a 50 - 100 pips moves from last high/low. It is not wise to pick exact top/bottom. If can pick up 70% of the trend, you should be glad... i think.

PS: i use 4hrs chart for entry/exit.

ah, thanks

so where should we be looking to get out if entry is 141.50

For exit, u should use Vegas VWB method. Exit half at tunnel and the rest, let it run till reversal. There is no way i can know the pt where it will reverse. I can't predict.

thanks,

can u direct me to a place where they teach you how to calculate the pivot point

Quoting compro99

Disliked

jonny,

Even though gbp/jpy is not one of Vegas listed pair. I give it the same setting as GBP/USD. It is one of the most volatile/trending pair. Give it a look.

Vegas method VWB can be applied on many pairs... and u just have to test out the models given.

Ignored

After GBP/JPY was first mentioned in the "Discussion" I took a look at it to see if any of the models provided had a decent 'Fit'.

I don't believe they do. The Highest Line of Interest in Models 1-4 is 233.
I think the GBP/JPY wants 377 as a Line of Interest.

I will Edit Post #1 to include VT Version to accomodate GBP/JPY.
Remember though That Volatility may be why it is not on the Vegas Hit List.

Bemac,

Fib 233 on gbp/jpy is just a reference pt, we don't have to be very specific. When price reaches Fib 233, we just have to be on alert mode.. that's all. Only when it turns for abt 50-100pips from last high/low then we take the trade.. based on 4hrs chart. I am able to get better visual effect because i have sort of daily ACD pivot zone and weekly pivot calculation(central pt). To me, price above/below this zone means bullish or bearish.

Hi Fire,
I think the thread will keep itself up. It's not mine to maintain.

NSVR is reasonably new to me also. In the Old version there was no 'V' or 'R'.

But I did use the Old Sisters similar to a Stochastic with an Oscillator. Looking for OverB/S conditions, Divergencies from Price Action and a simple crossover of the Oscillator.

Hey Bemac,

Will try to keep track of these pairs on this thread regularly. It's good if we are gaining some thing out of this heads up..

I had moved gbpusd position to +60 SL at 1.7750 and stopped out. Not bad though. My fiber balance half position's SL is at +50 at 1.2157. Got to see if this holds or breaks.

GLGT !
Shan

LOL! With everyone using the VWB method covering their shorts the cable is making a nice rally.....could this be a good time to establish another small short or two? 1.7779 is a point of interest on this rally I have a minor resistance there although it happens to be one that is kinda out there on it's own so it could prove to be the spike point. This rally has pushed a trendline on the 4hr chart from the last 8 periods and is the retrace from the move down most VWB people were on. If it breaks 1.7779 significantly I'll be not looking to enter short again. If it tests and fails I'll be shorting for a day trade scenario looking for profits sooner than later.

Weekly chart tells me the rate could likely see 1.79 by the end of the week so I wouldn't hold my shorts out there for too long if I do decide to use this test and fail for a nice little scalp.

I know several of us are currently watching the EURJPY and USDJPY pairs as they are the only 2 within the VWB method that are hitting entry fib levels (arguably EURJPY has already triggered a short away).

With respect to the EURJPY pair, a few observations:
1 - it has hit the 233 fib level on the daily charts indicating we are positioning to short with a 4hr chart entry signal, and
2 - it appears to be/has already begun to reverse on the 4hr chart; HOWEVER,
3 - it is clearly NOT a sell under the weekly chart per Vegas' original 4hr tunnel method (in fact, doesn't it indicate we are looking for a long position?)

A few questions:
1 - are we to totally dismiss the weekly chart under the VWB method?
2 - is the weekly chart a reasonable confirming entry for VWB?
3 - how often will we have a weekly in disagreement with the daily in signaling direction?
4 - or am I interpretting these charts and indicators incorrectly?

Thanks to all of you in advance for sharing your thoughts. Additionally, I'd like to express my personal thanks to Vegas for sharing his methods and, further, for the non-method insight gained from his documents (such as "patience, rather than intelligence, is the key to success in forex" - unfortunately, I am often like that doctor for short people - I have little patients!).

Thanks,
Mark

Very good questions Mark - I have also been pondering these questions as well.


we'll see what the concensus is

Thanks Bemac - I do have to say I like the indicator straight off - am watching it on several of my charts - thanks again - what are you using to get your pivots on the weekly and daily?

(gbp/usd)Well after a test and fail it looks to be wanting to try again. The 8candle(4hr chart) trendline was broken but there is another trendline formed on the last 4 candles that has a steeper grade to it that still hasn't been broken. That trendline formed after the test of the low from yesterday so it likely is the one that is more relevant. If I do short I would be looking to exit around 1.7735 with also the bottom of the trendchannel being 1.7700 at this moment. Anybody else have any insights?

Hey Mark,

Nice questions. This is the most confusing and conflicting concepts of Vegas 4H/weekly and VWB systems. When I first read the VWB, I also got stuck with this conflicts. I believe that he has mentioned in this VWB doc that weekly chart signals lag till the week closes. So the trend reversals which happens can be identified much quicker using daily charts. When I have bullish weekly chart and a reversal signal from daily chart, I would give more weightage for the daily chart to react for shorter timeframe signal.

Well..this is my understanding..if I'm wrong, anyone who knows the correct concept please correct me..

Shan

Is there a .doc for the VWB that I can read? I think I missed it. I read the 1hr and 4hr tunnel ones but I think I must have missed the daily one.

The trendline and resistance were broken by 15 pips on a gapup. I'm staying out as this move might not be done. 1.7832 is my next point of interest, it comes from the daily chart and it's a pretty weighty one.

I wonder if this will have any effect?

Yes, Go to the following link.

http://www.forexfactory.com/forexfor...86&postcount=1