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  • #221
  • Edited 7:24pm Feb 9, 2006 7:18pm | Edited 7:24pm
Quoting baggy
Ok I see what you are saying about the resistence there was at 7463, but could you alaberate a little more by what you mean when you say it will break that resistence very soon. Was it the way it rejected it so fast that is key and does soon mean today or could it be tomorrow

baggy
Baggy, in general we will see different types of resistances and supports in the market. mild/medium/strong which depends on how many times it has been tested. So, if price gets rejected at a resistance, it does not mean that it won't break it. It failed the first test. If the market is more bullish, it might re-test the same resistance and break it.

Btw,I'm not saying that if price gets rejected fast, it would break it soon. All I'm telling is if the market is bullish (as per vegas buy signal), it could break the resistance.

This is no way connected to VWB concepts and it is the general market behaviour as I have studied and absorbed so far.

Edit : I read my old post..by 'reversal move' I meant the trend reversal bullish move..I think you might have understood that as rejection move from the resistance..
  • #222
  • Feb 9, 2006 7:31pm Feb 9, 2006 7:31pm
SPike through the days 50% fro entry long
Attached Image
  • #223
  • Edited 10:08pm Feb 9, 2006 8:45pm | Edited 10:08pm
Firstly Vegas thanks for your much appreciated contribution. Things are slowly begining to click in a number of aspects of trading.........

I'm curious how you chose how far out the first fib levels to use as a entry in VWB. Is it related to only taking trades far enough from the tunnel to ensure an appropriate R/R?

I noticed that most of the risk models used for various pairs do not use the the inner fib levels in MR4 - what the point of having them on the chart? Do they represent S/R levels that we should watch when we are in a trade?

Thanks -
Silver
In trading you are only as smart as your dumbest mistake. - Ralph Vince
  • #224
  • Feb 9, 2006 9:36pm Feb 9, 2006 9:36pm
Quoting zenophyte
SPike through the days 50% fro entry long
So.. where is your target?
  • #225
  • Feb 9, 2006 11:02pm Feb 9, 2006 11:02pm
I'm sorta new to this forum, I have been watching for a couple weeks now.
Very impressed with the vwb, 1 hr and 4 hr. Currently in 3 lots on the vwb as of tonight. jumped the gun early yesterday. The latest vwb part II has set things straight and Vegas comments yesterday about the current situation with the GBP/USD have really clarified things for me.

I have had alot of training in TA day trading style and have been trading awhile.

I think the vwb is going to fit my lifestyle perfectly I do not like the real short term day trading, it is just to wacko for me.

We will see as time goes on, and I am very gratefull that Vegas has volunteered to show some of us the real world after being in it for so many years, It's like I have been writing computer software for 25 years, which I have and evetually it begins to fit like an old shoe and you can do these things in your sleep.

It is great that there is also the C2 signal service as there are some of us that are just way to busy to study and follow the market day in and day out. As for me I want to learn to do it my self and every aspect of the vwb that I can get my hands on, so that I may do this independently in my sleep in my sleep as Vegas does today.


Thanks again and I hope to get to know some of you as I keep watching and learning.

John
  • #226
  • Feb 9, 2006 11:15pm Feb 9, 2006 11:15pm
Quoting zenophyte
SPike through the days 50% fro entry long
There was a post on this action earlier by Diallist I believe. Vegas responded to this by stating that this is the 25% probability that made it reverse back past 47 pips.
  • #227
  • Feb 9, 2006 11:19pm Feb 9, 2006 11:19pm
Gentlemen im not enrolled in C2 either yet, for those who are may I ask if this recent buy posted on there that I am hearing of was for the GBPUSD? Cause from what I see looks like a buy to me now.
  • #228
  • Feb 9, 2006 11:40pm Feb 9, 2006 11:40pm
Quoting lambrechtj
I'm sorta new to this forum, I have been watching for a couple weeks now.
Very impressed with the vwb, 1 hr and 4 hr. Currently in 3 lots on the vwb as of tonight. jumped the gun early yesterday. The latest vwb part II has set things straight and Vegas comments yesterday about the current situation with the GBP/USD have really clarified things for me.

I have had alot of training in TA day trading style and have been trading awhile.

I think the vwb is going to fit my lifestyle perfectly I do not like the real short term day trading, it is just to wacko for me.

We will see as time goes on, and I am very gratefull that Vegas has volunteered to show some of us the real world after being in it for so many years, It's like I have been writing computer software for 25 years, which I have and evetually it begins to fit like an old shoe and you can do these things in your sleep.

It is great that there is also the C2 signal service as there are some of us that are just way to busy to study and follow the market day in and day out. As for me I want to learn to do it my self and every aspect of the vwb that I can get my hands on, so that I may do this independently in my sleep in my sleep as Vegas does today.


Thanks again and I hope to get to know some of you as I keep watching and learning.

John
John,
I know Cable like every square inch of my glorious naked body. HAHAHA
Itjust takes time and discipline.
vegas
  • #229
  • Feb 9, 2006 11:44pm Feb 9, 2006 11:44pm
Everyone,

I see 2 things in the news tonight that are interesting.

1) CME will start electronic trading in SNOWFALL FUTRES! Yes, it's true. Snowfall at Boston's Logan Airport is where it's measured, and contracts are traded OCT. through APRIL. Maybe I can do VWB on it and make a fortune.

2) Duetche Bank in 2005, refused $1 TRILLION in trades from people who were trying to take advantage of loopholes in their software. This involved carry trades and rollover interest. That's a lotof bucks.
vegas
  • #230
  • Feb 9, 2006 11:47pm Feb 9, 2006 11:47pm
Quoting vegas
John,
I know Cable like every square inch of my glorious naked body. HAHAHA
Itjust takes time and discipline.
And all the inches make up the forest your trying to get us all to concentrate on the big picture.
  • #231
  • Feb 9, 2006 11:47pm Feb 9, 2006 11:47pm
Everyone,

On a more serious note, everybody should be long cable with appropriate stops.

One thing I would add.

Of all the reversal signals in VWB and VWB Part II, the spinning tops are the weakest technically. I say this just so you know. There is a greater chance of breakeven trades is what I'm saying.
vegas
  • #232
  • Feb 9, 2006 11:51pm Feb 9, 2006 11:51pm
Quoting lambrechtj
I'm sorta new to this forum, I have been watching for a couple weeks now.
Very impressed with the vwb, 1 hr and 4 hr. Currently in 3 lots on the vwb as of tonight. jumped the gun early yesterday. The latest vwb part II has set things straight and Vegas comments yesterday about the current situation with the GBP/USD have really clarified things for me.

I have had alot of training in TA day trading style and have been trading awhile.

I think the vwb is going to fit my lifestyle perfectly I do not like the real short term day trading, it is just to wacko for me.

We will see as time goes on, and I am very gratefull that Vegas has volunteered to show some of us the real world after being in it for so many years, It's like I have been writing computer software for 25 years, which I have and evetually it begins to fit like an old shoe and you can do these things in your sleep.

It is great that there is also the C2 signal service as there are some of us that are just way to busy to study and follow the market day in and day out. As for me I want to learn to do it my self and every aspect of the vwb that I can get my hands on, so that I may do this independently in my sleep in my sleep as Vegas does today.


Thanks again and I hope to get to know some of you as I keep watching and learning.

John
Hi John,

Welcome to Forex Factory, we are glad to have you join the best forum on the net! Yes, we are very fortunate that Vegas has graciously been sharing his years of professional experience.

Learn, prosper, and above all, enjoy your time here.

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #233
  • Feb 10, 2006 12:06am Feb 10, 2006 12:06am
Quoting vegas
Everyone,
Of all the reversal signals in VWB and VWB Part II, the spinning tops are the weakest technically. I say this just so you know. There is a greater chance of breakeven trades is what I'm saying.
Vegas...
If gbpusd closes today above 1.7460, I guess the 1-day chart reversal pattern would be called ENGULFING. Is this right ??

rjb1024
  • #234
  • Feb 10, 2006 12:14am Feb 10, 2006 12:14am
Quoting rjb1024
Vegas...
If gbpusd closes today above 1.7460, I guess the 1-day chart reversal pattern would be called ENGULFING. Is this right ??

rjb1024
rjb1024,
yes, that is correct, but I don't put much faith in most techs. Without a doubt, the most accurate signals are reversals after extended moves.
vegas
  • #235
  • Feb 10, 2006 12:17am Feb 10, 2006 12:17am
Quoting vegas
Everyone,

On a more serious note, everybody should be long cable with appropriate stops.

One thing I would add.

Of all the reversal signals in VWB and VWB Part II, the spinning tops are the weakest technically. I say this just so you know. There is a greater chance of breakeven trades is what I'm saying.
Doubt I will get out at break even if this thing don't move higher.
1) open 1.7466 sl 1.7390
2) open 1.7443 sl 1.7390
3) open 1.7428 sl 1.7390

The Vegas 4hr chart is showing this latest long trend really nice going uphill.
It shows it bottomed out real flat and is heading up at the moment.

Will move the stops later if it goes up good.

John
  • #236
  • Edited 12:23am Feb 10, 2006 12:17am | Edited 12:23am
Engulfing is when the body of the previous candlestick is totally engulfed in the current body. On the daily chart the body of today's candlestick is higher than yesterday's. Jan31 shows a bullish engulfing pattern.

edit: hmmm, just read Vegas' comment that today does show an engulfing pattern? maybe I got it backwards...

2nd edit: the USDJPY also got me into a short trade using VWB about the same time as the GBPUSD long and that's looking pretty sweet as well.
  • #237
  • Feb 10, 2006 12:23am Feb 10, 2006 12:23am
Blue...

If you blend the latest 2 bull candles (days) it becomes a single "engulfing" reversal signal against the last bear candle.

... i guess !!

rjb
  • #238
  • Feb 10, 2006 12:24am Feb 10, 2006 12:24am
Quoting bluemeasure
Engulfing is when the body of the previous candlestick is totally engulfed in the current body. On the daily chart the body of today's candlestick is higher than yesterday's. Jan31 shows a bullish engulfing pattern.

edit: hmmm, just read Vegas' comment that today does show an engulfing pattern? maybe I got it backwards...
bluemeasure,

I think he asked if it closes above 1.7460 for the day or possibly goes higher would we have an engulfing pattern? From the looks of it, it wouldn't be textbook [because the low isn't low enough] but it's close enoguh for me.

But like I said, even if it was textbook, it doesn't mean anything to me. Just another tech that might work or might not.
vegas
  • #239
  • Feb 10, 2006 12:28am Feb 10, 2006 12:28am
Quoting rjb1024
Blue...

If you blend the latest 2 bull candles (days) it becomes a single "engulfing" reversal signal against the last bear candle.

... i guess !!

rjb
comparing 2 bull candles against one bear candle...? Interesting... never heard of such a setup. I guess I'll have to go back to the Nison books... :
  • #240
  • Feb 10, 2006 12:33am Feb 10, 2006 12:33am
Quoting bluemeasure
Engulfing is when the body of the previous candlestick is totally engulfed in the current body. On the daily chart the body of today's candlestick is higher than yesterday's. Jan31 shows a bullish engulfing pattern.

edit: hmmm, just read Vegas' comment that today does show an engulfing pattern? maybe I got it backwards...

2nd edit: the USDJPY also got me into a short trade using VWB about the same time as the GBPUSD long and that's looking pretty sweet as well.
The body "white part" of the current candle must engulf the previous candle for it to be called engulfing, does not look like that will happen at this time.
The fact that it opend higher with a gap is good. Gap is a space between the candles supposedly it shows power and momentum.

I like the Vegas version of a reversal day which is based mostly totally on Price alone.

To much miss interpretation can happen with candle reading or indicator readings. Example when a market is trending like it had for the last two days candle reading becomes less meaningfull. When it starts to move then there is more meaning in the readings.
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