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VWVB Daily Chart Analysis

  • #1
  • First Post: Feb 24, 2006 10:00pm Feb 24, 2006 10:00pm
The Vegas Wealth Builder has a strong following so lets post observatins and opinions on currency chart pairs as they develop. Now that we have a better understanding of how VWB works this will be an excellent tool for both the poster and the reader.

I found the following from here: http://www.forexfactory.com/forexfor...56&postcount=9
and thought it is an excellent example of one way for individuals to post their VWB chart observations:


01/30/2005 : 9.00pm est

Daily VWB chart, current price levels..

1. GBP/USD - Near tunnel. Hoping that the price might break the tunnel south.
2. AUD/USD - At tunnel.
3. EUR/JPY - At 2nd Fib. Looks very bullish though. Waiting for reversal signal.
4. EUR/GBP - Broke the tunnel heading south. Waiting to reach 1st fib.
5. USD/CAD - At 1st fib below tunnel. Waiting to reach 2nd fib.
6. USD/CHF - Broke the tunnel heading north. Waiting to reach 2nd fib.
7. USD/JPY - At 2nd Fib. Looks very bullish though. Waiting for reversal signal.
8. EUR/USD - At tunnel. Hoping that the price might break the tunnel south.

Currently interested with EUR/JPY and USD/JPY for reversals.

Shan

This is just an example of one way to share your idea(s) on how to share ideas on chart developments using Vegas' powerful method.

Please keep in mind that if you disagree with someone on how they read a development we must respect everyone's right to their opinion. The only expert on this subject is Vegas. Hopefully this thread will help the rest of us develop his understanding of the VWB.

Now lets see if there is enough interest to get this going...
  • #2
  • Feb 24, 2006 10:33pm Feb 24, 2006 10:33pm
Great Idea Majic Man. Hope it has legs.

It would be good to know that others might post conditions on the rest of the charts also 'cause I'd hate to miss one.

I wonder if this could be setup somewhat like a poll for speed of entering data and reading it. It would be kinda lengthy tho.
  • #3
  • Feb 24, 2006 11:04pm Feb 24, 2006 11:04pm
I'm currently studying this too (the VWB I mean).. I'm okay with the idea too.. But as of the moment, I will only be looking at what others see since I'm still studying..

I'm with this.. since what will be put here are currencies on the watch list and not the actual entries..

And like what Bemac also said, I hope it has legs..
I think there will be similarities with what vegas gives in his C2 signals.
  • #4
  • Feb 25, 2006 4:44pm Feb 25, 2006 4:44pm
By the end of the trading day on Friday, it touched the 3rd fib. I actually looks to be in a strong upward move, but I'm keeping my eye on it.
If it is not broken, fix it until it is!
  • #5
  • Feb 25, 2006 7:21pm Feb 25, 2006 7:21pm
GBPJPY
near third fib watching for a reversal.
  • #6
  • Feb 25, 2006 9:24pm Feb 25, 2006 9:24pm
Here is a pic on what I should have done on this trade. The chart shows an exit signal triggered around the 1.7520 area (VWB 4 hr tunnel method).

This rookie did not exit there. I set my stops at the break even point of 1.7450. This greenhorn oversight allowed around 70 pips to get away from me. Vegas commented on the weakness of this setup and decided not to re-enter. I was fortunate to enter late and did not get stopped out. When price passed thru the tunnel I sure thought it was going to run to the upper fib exit line for a really nice profit. However, this did not happen.

A lesson learned on one thing to keep an eye on while watching a trade for an exit signal.

http://home.comcast.net/~greinesm/pics/gbpusd_trade.bmp
  • #7
  • Feb 26, 2006 4:08am Feb 26, 2006 4:08am
Hi Zeno,

Quoting zenophyte
GBPJPY
near third fib watching for a reversal.
Can you telle me what model #'s you're using for this pair?

Thanks,
Andrew.
  • #8
  • Feb 26, 2006 6:55am Feb 26, 2006 6:55am
Quoting MrMajik
Here is a pic on what I should have done on this trade. The chart shows an exit signal triggered around the 1.7520 area (VWB 4 hr tunnel method).

This rookie did not exit there. I set my stops at the break even point of 1.7450. This greenhorn oversight allowed around 70 pips to get away from me. Vegas commented on the weakness of this setup and decided not to re-enter. I was fortunate to enter late and did not get stopped out. When price passed thru the tunnel I sure thought it was going to run to the upper fib exit line for a really nice profit. However, this did not happen.

A lesson learned on one thing to keep an eye on while watching a trade for an exit signal.

http://home.comcast.net/%7Egreinesm/...pusd_trade.bmp
Your V4HT "exit" was my short entry for the ride back south. Free trade now!

Did you see that dive bomb on the eurjpy keep your eye on that one if you trade that pair! Of late it likes to kiss and run from the lowwer take notice fib! wait for confirmation always!

HeavyJ
HeavyJ -"Posterboy for Spellchecker!" "Will work for pips!"
  • #9
  • Feb 26, 2006 8:32am Feb 26, 2006 8:32am
I would offer not dismissing the Weekly Chart as Vegas offered prior to VWB systems. Below is a chart that uses the VWB fib lines on the weekly. IMO it speaks volume to the recent action of this pair.

But who knows tomorow?.....................

HJ

Oh yeah!

The email where Vegas described the application of VWB indies to weekly charts is somewhere in the "Lost in the Tunnel....." thread.
Attached Image
HeavyJ -"Posterboy for Spellchecker!" "Will work for pips!"
  • #10
  • Feb 26, 2006 12:57pm Feb 26, 2006 12:57pm
Quote
Did you see that dive bomb on the eurjpy keep your eye on that one if you trade that pair! Of late it likes to kiss and run from the lowwer take notice fib! wait for confirmation always!

I have that pair in my radar scope and am waiting. This could be a profitable play real soon.
  • #11
  • Feb 26, 2006 1:16pm Feb 26, 2006 1:16pm
Quoting Artamon
Hi Zeno,


Can you telle me what model #'s you're using for this pair?

Thanks,
Andrew.
I use the same model as GBPUSD and trade a reversal at the third fib.
  • #12
  • Feb 26, 2006 7:51pm Feb 26, 2006 7:51pm
drove through the second fib at open !!!
  • #13
  • Feb 26, 2006 8:28pm Feb 26, 2006 8:28pm
Nice fast fall, wonder how fast it will come up for a 50% retrace or how much further this thing will go down. Just watching for now.

All the JPY pairs have good fall today how ever I like the Eur/Jpy it is cheaper to trade than the gdb/jpy on IB, Eur/Jpy cost 4 pips GDP/JPY 9 pips, wonder how they figure out how to charge these things.

Quoting zenophyte
drove through the second fib at open !!!
  • #14
  • Feb 26, 2006 9:05pm Feb 26, 2006 9:05pm
Quoting lambrechtj
Nice fast fall, wonder how fast it will come up for a 50% retrace or how much further this thing will go down. Just watching for now.

All the JPY pairs have good fall today how ever I like the Eur/Jpy it is cheaper to trade than the gdb/jpy on IB, Eur/Jpy cost 4 pips GDP/JPY 9 pips, wonder how they figure out how to charge these things.
Just my opinion though. If you're asking about the spreads, I think they calculate them based on the volatility of the currency.
As a general rule, I think, the more volatile, the higher the spread since the more possibility of the currency to reach a higher level/profit level.

As I've said. just my opinion..
  • #15
  • Feb 26, 2006 9:25pm Feb 26, 2006 9:25pm
That makes good sense.


Quoting eastmaels
Just my opinion though. If you're asking about the spreads, I think they calculate them based on the volatility of the currency.
As a general rule, I think, the more volatile, the higher the spread since the more possibility of the currency to reach a higher level/profit level.

As I've said. just my opinion..
  • #16
  • Feb 26, 2006 9:40pm Feb 26, 2006 9:40pm
Quoting lambrechtj
That makes good sense.
I'm glad I make sense..
  • #17
  • Feb 27, 2006 12:35pm Feb 27, 2006 12:35pm
Quoting HeavyJ
Did you see that dive bomb on the eurjpy keep your eye on that one if you trade that pair! Of late it likes to kiss and run from the lowwer take notice fib! wait for confirmation always!

HeavyJ
The euppy also is ready to make a stoch touch on the daily chart. I use that is a signal for me to take interest in a pair for reversal and I like to be aware the day before it's likely touch so I can watch shorter timecharts for best entry points. It may have hit it's lowest point already though as by the time the daily chart adds another candle at the end of the day(5pmET) it may indicate the touch with the added data on the stoch. I'm watching it for a long here shortly. Would have liked to have gotten in a bit earlier(low 137s) but I was away from the computer. Although 4hr chart has a slighty bearish triangle forming after the move down below 138. I think there could be another spike down right around the new candle. Either right before or right after.

This is looking good though.
  • #18
  • Feb 27, 2006 7:07pm Feb 27, 2006 7:07pm
I've been watching EURJPY closely and it loks like a VWB deal for sure.

As usual, I was overeager and thought it had bounced around as long as it could before shooting up. I should have taken Vegas seriously and not bought into a sideways market. Wait for it to smash up through a 50 ret!

I'm thinking of taking a day trade at the next high point and trying again tomorrow.
  • #19
  • Feb 27, 2006 8:28pm Feb 27, 2006 8:28pm
Well, we've got a daily high on EURJPY. I might have just got lucky. I'm not sure if it's going to bounce all the way back down again, but the trendlines keep pointing higher. Should I hold on?
  • #20
  • Feb 27, 2006 8:49pm Feb 27, 2006 8:49pm
It has a range of 43 pips right now. I tossed my hat into the arena and set my stop at just below yesterday's low. This could be it
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