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VWVB Daily Chart Analysis

  • #21
  • Feb 27, 2006 11:33pm Feb 27, 2006 11:33pm
In at 138.05 wasn't the best reversal but ,hit what I belive was 50% on the daily at 138(odd how the number is so even hmmmmmmm).
Looks like a bullish Harami forming on the daily but,hourly data has no momentum at all.Stop at 10 pips below the low on to days up candle.
see what happens!
  • #22
  • Feb 28, 2006 9:32am Feb 28, 2006 9:32am
Both seen on the daily charts: The USDCHF looks to be running south. Also, USDJPY is very close to the outer fib so if you watch this pair there could be something here soon.
  • #23
  • Feb 28, 2006 10:04am Feb 28, 2006 10:04am
Entry at 202.90 looks almost identical to JPYEUR except it crossed the fourth fib line.
  • #24
  • Feb 28, 2006 10:25am Feb 28, 2006 10:25am
EUR/JPY:
Thought we waited till we ahve a reversal candle, spinning top, hammer, inverted hammer, hangingman, for the entry? I don't see that yesterday's candle meets any of those criteria.
I know Vegas said they don't have to be perfect....now todays candle looks like it could be setting up a rough spinning top or possibly an inverted hammer.
Starting with a third of a position now at 138.10 and will watch while it forms?

Any and all comments welcome! Thanks
  • #25
  • Feb 28, 2006 10:33am Feb 28, 2006 10:33am
Quoting zenophyte
Entry at 202.90 looks almost identical to JPYEUR except it crossed the fourth fib line.
I missed the lower entry on this one as I had my weekly chart set to hourly and could not understand why you entered this trade. When I noticed the time frame on my chart I changed it to daily, took a good look and entered at 203.20.
  • #26
  • Feb 28, 2006 12:48pm Feb 28, 2006 12:48pm
Quoting MrMajik
I missed the lower entry on this one as I had my weekly chart set to hourly and could not understand why you entered this trade. When I noticed the time frame on my chart I changed it to daily, took a good look and entered at 203.20.
Ya the hourly was slow at best but, the daily looks like its into a revesal now.A few more pips and I am in the free trade zone!!!!
  • #27
  • Feb 28, 2006 1:19pm Feb 28, 2006 1:19pm
Ahhh...the Free Zone...I have been there one time so far using VWB and it is a cool place to be
  • #28
  • Feb 28, 2006 5:24pm Feb 28, 2006 5:24pm
Quoting Shorediver
EUR/JPY:
Thought we waited till we ahve a reversal candle, spinning top, hammer, inverted hammer, hangingman, for the entry? I don't see that yesterday's candle meets any of those criteria.
I know Vegas said they don't have to be perfect....now todays candle looks like it could be setting up a rough spinning top or possibly an inverted hammer.
Starting with a third of a position now at 138.10 and will watch while it forms?

Any and all comments welcome! Thanks
Shorediver,

I jumped in 137.84 (long) because it made a new low and I like what I saw in the charts. The price did start to move away from the new low, but not with alot of speed. I think most used the fact that price went pass it daily range and took the trade. We may easily get stopped out on this one.

Happy Trading ...
If it is not broken, fix it until it is!
  • #29
  • Feb 28, 2006 5:47pm Feb 28, 2006 5:47pm
past the second fib fora heads up but,right now looks to be trend down.
still in both the EURJPY and the GBPJPY.sold a couple lots for profit got a little nervous when it took a bounce low but,it looks like its headed back up.Nearly adjusted my stop to break even but, gave it a littl eroom to swing.
  • #30
  • Feb 28, 2006 6:33pm Feb 28, 2006 6:33pm
Quoting zenophyte
past the second fib fora heads up but,right now looks to be trend down.
still in both the EURJPY and the GBPJPY.sold a couple lots for profit got a little nervous when it took a bounce low but,it looks like its headed back up.Nearly adjusted my stop to break even but, gave it a littl eroom to swing.
Watching USDJPY too.. Playing around "fib - 2" level..
Got my scope on it too..
Watching for a probable reversal..
Looks to be on a trend down.
  • #31
  • Feb 28, 2006 8:57pm Feb 28, 2006 8:57pm
USDJPY looks a bit rough at the moment for me....I think there's more room to go down that up at the moment....

EURJPY looks much more appealing from a VWB standpoint...it appears to be well supported at 137.50....however I don't think that's warrants 'a reversal'.

Other comments?
  • #32
  • Mar 1, 2006 4:21am Mar 1, 2006 4:21am
G'day folks,

Well, I've been watching EURJPY and USDJPY for a couple of days since breaching their fib lines.

On the 27/2 I wrongly interpreted a 50% retrace on the USDJPY and entered at 116.22 (which was not the correct point anyway). I was, consequently, stopped out of that trade with a 37 pip loss.

On that day I also placed a buy limit on the EURJPY at 138.10. Looking at it now, I was too quick to pull the trigger as their was no semblence of a reversal on the daily, although there was on the hourly. As it stands, that trade is still alive and at +32. But, it's just by luck because (looking back now) not all criteria were met. I got too eager to take a trade..any trade.

So, I still have a lot of work to do, especially in reading the charts and seeing what IS there as opposed to what I WANT to see there.

Vegas, I'd like to thank you for taking the time. Not many people would. Hell, most would keep it close to their chest and run in the opposite direction as fast as they could. People helping people. Now, there's a concept!

Cheers mate,
Andrew.
  • #33
  • Edited 5:08am Mar 1, 2006 5:02am | Edited 5:08am
EURJPY now +65 pips...moved SL to BE +10 (gotta get something out of it).

In future I plan on trialling taking 1/3 at 1st fib, 1/3 at tunnel and let the rest ride with a trailing stop. However, in this instance, my trade lot is 0.10 so i can't take partial off the table.

I should point out that this is a demo acct with FXDD.
  • #34
  • Mar 1, 2006 11:05am Mar 1, 2006 11:05am
Quoting Artamon
G'day folks,

Well, I've been watching EURJPY and USDJPY for a couple of days since breaching their fib lines.

On the 27/2 I wrongly interpreted a 50% retrace on the USDJPY and entered at 116.22 (which was not the correct point anyway). I was, consequently, stopped out of that trade with a 37 pip loss.

On that day I also placed a buy limit on the EURJPY at 138.10. Looking at it now, I was too quick to pull the trigger as their was no semblence of a reversal on the daily, although there was on the hourly. As it stands, that trade is still alive and at +32. But, it's just by luck because (looking back now) not all criteria were met. I got too eager to take a trade..any trade.

So, I still have a lot of work to do, especially in reading the charts and seeing what IS there as opposed to what I WANT to see there.

Vegas, I'd like to thank you for taking the time. Not many people would. Hell, most would keep it close to their chest and run in the opposite direction as fast as they could. People helping people. Now, there's a concept!

Cheers mate,
Andrew.
I entered into the EURJPY at 138.05 and I agree that the 3 rules were not met perfectly but,if this is not a reversal it also is no longer at the fib lines ergo there is no trade of interest here.Which means if you didn't hit the switch it is already too late for this trade.I removed some profit at the spike and raised my stop to protect a bit of profit so I am net up.
This means it was a good time to enter ,if it continues long I make profit if it falls I will enter the next trade when it crosses the second fib again.
  • #35
  • Mar 1, 2006 12:00pm Mar 1, 2006 12:00pm
Any one went long with usdjpy?? It looks pretty good for reversal..Shan
  • #36
  • Mar 1, 2006 1:43pm Mar 1, 2006 1:43pm
Quoting vishalshan
Any one went long with usdjpy?? It looks pretty good for reversal..Shan
I went long EURJPY this morning but not USDJPY, yet. Im still debating that.

I think I'm going to wait till the Tokyo markets open in about 5 hours and see how it reacts then. If there is fast price movement up it will be a buy, IMO.
  • #37
  • Mar 1, 2006 2:10pm Mar 1, 2006 2:10pm
Quoting xspowerx
I went long EURJPY this morning but not USDJPY, yet. Im still debating that.

I think I'm going to wait till the Tokyo markets open in about 5 hours and see how it reacts then. If there is fast price movement up it will be a buy, IMO.
Thaks XSP,
To me, that's important information. But because I saw your post 'x' minutes after you posted it { because that's when I looked at it} I now have to do some math to figure out when Asia opens. That is my driving reason behind supporting Mr. Paul Cohen in providing us with a FX dedicated Clock.

If you would like to know how long before Asia opens from THIS point in time, Check this out...

http://www.worldmarkethours.com/Forex/Default.htm

I am presently beta testing the effects of moving this to a Linux server. If you would like to help me, check out http://72.34.35.151
For some reason my DSL seems to think it is a 14 baud modem and is totally dragging it's butt. So I will end there.
  • #38
  • Mar 1, 2006 5:48pm Mar 1, 2006 5:48pm
Is anybody taking position on USD/JPY?
Second line is reached... Maybe is better to wait until tomorrow.
Try hard, think fast, die young
  • #39
  • Mar 1, 2006 6:33pm Mar 1, 2006 6:33pm
USDJPY

Took a position based on the Knife (demo).. I hope I'm doing it right.
Entry: 116.00
Cut: 115.40 (Recent swing low)
  • #40
  • Mar 1, 2006 6:46pm Mar 1, 2006 6:46pm
Quoting eastmaels
USDJPY

Took a position based on the Knife (demo).. I hope I'm doing it right.
Entry: 116.00
Cut: 115.40 (Recent swing low)
I am in the USD/yen too, based on the knife
Entry at 116.02 stop at 115.42
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