'Vegas Wealth Builder Part II' | Page 8 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Vegas Wealth Builder - Part I 535 replies

Vegas Wealth Builder 1 reply

Vegas Wealth Builder 1 reply

Vegas Weath Builder question 1 reply

Question for VEGAS and others using Vegas system..... 2 replies

Attachments: 'Vegas Wealth Builder Part II'
Exit Attachments

'Vegas Wealth Builder Part II'

  • #141
  • Feb 8, 2006 11:18pm Feb 8, 2006 11:18pm
Quoting vegas
rjb1024,
Can you see momentum shift from team to team in a sporting event? OK, you can, now try and quantify it. See the problem?
You're a very smart man, Vegas !
...thanks
rjb1024
  • #142
  • Feb 8, 2006 11:49pm Feb 8, 2006 11:49pm
Vegas

Having taken half-profit at the daily VWB tunnel, what do you prefer to do if there is little further move, not to the next target fib level, and then some retracement? Similar to the EURJPY on Feb 8? Would the 4H 8 min EMA change of trend be very acceptable as an exit point or do you recommend another exit strategy?

Trinity
  • #143
  • Feb 8, 2006 11:54pm Feb 8, 2006 11:54pm
Quoting Trinity
Vegas

Having taken half-profit at the daily VWB tunnel, what do you prefer to do if there is little further move, not to the next target fib level, and then some retracement? Similar to the EURJPY on Feb 8? Would the 4H 8 min EMA change of trend be very acceptable as an exit point or do you recommend another exit strategy?

Trinity
Trinity,
Just wait, you have a free trade on the other half. Don't be concerned about little retracements. Let it ride to where it most likely will go.
vegas
  • #144
  • Feb 9, 2006 12:16am Feb 9, 2006 12:16am
Quoting vegas
Trinity,
Just wait, you have a free trade on the other half. Don't be concerned about little retracements. Let it ride to where it most likely will go.
Thanks for the perspective.

Trinity
  • #145
  • Feb 9, 2006 1:30am Feb 9, 2006 1:30am
Quoting Bemac
Well I suppose it depends on what timeframe you're thinking of
I presently am working on a VT version of the one[1] week high/low to produce a Fib Fan from same into the current week.

But if all you need is the high/low of one week or otherTimeframe, pm me with your params and perhaps [if VT is acceptable to you] I will see what I can do.
Thanks all I got my data

I can tell you one thing about this forum especially as a noob, there is SOOOOOOOOOO much information my head is starting to hurt.

But you can't help luvin' it
  • #146
  • Feb 9, 2006 1:30am Feb 9, 2006 1:30am
Vegas ,
I don't understand why,if you were in a winning trade in a currency you are familiar with ,there is no indication of reversal and you reach the tunnel.
Would it not be better to tighten your stop instead of taking profit ?
Thanks
  • #147
  • Feb 9, 2006 1:32am Feb 9, 2006 1:32am
Hi,
Is everybody looking at the USDJPY over the second fib!!!
  • #148
  • Feb 9, 2006 1:35am Feb 9, 2006 1:35am
Any thoughts about applying the 3 rules might help us better recognize a reversal!!
  • #149
  • Feb 9, 2006 2:21am Feb 9, 2006 2:21am
I was hoping someone could give me a heads up on wether or not my scenario's are heading in the right direction or am I still off base?

GBD USD Daily shows a 3rd fib touch and hourly shows 50% retracement of prior days low that was touching 3rd fib level.
The days range was 114 pips, the candle touching the 3rd fib was 54 pips.
Is 54 pips enough to be rated as an exhaustion move?
The combined candles making the retracement were above the Vegas 47 pips
I note that the 50% retracement took 3 hourly bars. Is that enough momentum?
Is all this enough to take a nibble trade?
Attached Images
  • #150
  • Feb 9, 2006 2:47am Feb 9, 2006 2:47am
Hi Lindsay
Here is my 1 hour gbpusd chart.
The white line is the lower outer fib and the price has been creeping lower for 2 days. No reversal to be seen here!
rjb1024
  • #151
  • Edited 7:26am Feb 9, 2006 2:48am | Edited 7:26am
gbpusd h1 chart
Attached Image
  • #152
  • Feb 9, 2006 5:13am Feb 9, 2006 5:13am
Vegas, another hypothetical question:

We are in a downtrending market. We reach the lower third fib level and we start following the intraday 1H chart to tick the three-concept-requirements on the list. Now, we see that price has dived below the 47-pip strech since open (3pm CST) to the downside, but later on we see a steady retrace back above the total range's 50% mark.

Does that qualify as a reversal day?

PS: Im just trying to nail the 3-concept business down like the rest of us.
  • #153
  • Feb 9, 2006 6:50am Feb 9, 2006 6:50am
Quoting WTB
Vegas, another hypothetical question:

We are in a downtrending market. We reach the lower third fib level and we start following the intraday 1H chart to tick the three-concept-requirements on the list. Now, we see that price has dived below the 47-pip strech since open (3pm CST) to the downside, but later on we see a steady retrace back above the total range's 50% mark.

Does that qualify as a reversal day?

PS: Im just trying to nail the 3-concept business down like the rest of us.
Everyone,
No,it doesn't. Just because you get an up-day off the fib line doesn't mean it's a reversal day. We need the formation on the daily chart to confirm, and so far cable doesn't look like it wants to go higher. Now, that could change, obviously, but we need some kind of dive to a new low or very near a new low followed by a RAPID move back. So far, the move back has been very lethargic.

I'm still short 7 contracts, and my buy stop is at 1.7488, or until I see a sign of reverdal.
vegas
  • #154
  • Feb 9, 2006 8:02am Feb 9, 2006 8:02am
Hello Vegas, thank for the comments.

What I saw on the intraday picture on GBP is what I have attached below, that's why I thought it had fulfilled the 3-concept requirement.

Anyway, so if I got it correctly, the steps to take are (in order) as follows:

1) we reach the appropiate fibo level.
2) we zoom to 1H chart to tick the 3-concept requirements on our side.
3) we zoom back out to the Daily chart seeking for candle stick reversal formation.
4) we enter trade.

Is this correct?

Thanks for your patience mate.
Attached Image
  • #155
  • Feb 9, 2006 8:15am Feb 9, 2006 8:15am
Quoting WTB
Hello Vegas, thank for the comments.

What I saw on the intraday picture on GBP is what I have attached below, that's why I thought it had fulfilled the 3-concept requirement.

Anyway, so if I got it correctly, the steps to take are (in order) as follows:

1) we reach the appropiate fibo level.
2) we zoom to 1H chart to tick the 3-concept requirements on our side.
3) we zoom back out to the Daily chart seeking for candle stick reversal formation.
4) we enter trade.

Is this correct?

Thanks for your patience mate.
wtb,
yea, you're petty close. You just have to make sure that you aren't too close to the trees that you can't see the forest. The most important thing is the reversal formation on the daily. Once that has a good probability of happening, then everything else falls in order.
vegas
  • #156
  • Feb 9, 2006 8:34am Feb 9, 2006 8:34am
Could you re-post the name and location of your system at collective2.com ? I can't locate it there.
  • #157
  • Edited Mar 5, 2006 2:56am Feb 9, 2006 8:39am | Edited Mar 5, 2006 2:56am
I have been working on the spreadsheet left in this thread a few days ago.

I have not completed work on it; however, perhaps someone with more time can do some more work in it.

Regards,
  • #158
  • Feb 9, 2006 8:53am Feb 9, 2006 8:53am
Quoting sarbot
Could you re-post the name and location of your system at collective2.com ? I can't locate it there.
Hi sarbot,

That information can be found in chapter 4 of the VWB II document.

Use the search tool on C2 and type in "PAP" or "PAP (Passionate About Profits"). I've found either one works.

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #159
  • Feb 9, 2006 9:42am Feb 9, 2006 9:42am
Hi Vegas,

I hope you are well and happy today!

Please take a look at the 1 hour chart below of the GBP/USD and let me know if my understanding of Concept 1 is correct or am I pissin' on the wrong fire hydrant.

It seems to me that Concept 1 in this case would be cause to ignore the subsequent break of the 50% line.

Thanks

Dial
Attached Image
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #160
  • Feb 9, 2006 11:51am Feb 9, 2006 11:51am
Vegas,

How do you apply VWBII when daily market is sideways, like Cable from Jan 30 to Feb 3.
0 traders viewing now