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VWVB Daily Chart Analysis

  • #81
  • Mar 3, 2006 9:11am Mar 3, 2006 9:11am
Hope people are having fun with eurjpy pair..
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  • #82
  • Mar 3, 2006 9:22am Mar 3, 2006 9:22am
Quoting vishalshan
Hope people are having fun with eurjpy pair..
Hi Vishalshan,
Very concise and informative. Thank you.

I wonder if you could make a slight Mod?

Would it be simple to sort the pairs in the same order of preference that Vegas gave us a while back?
That would be as follows.

1)GBP/USD
2)AUD/USD
3)EUR/JPY
4)EUR/GBP
5)USD/CAD
6)USD/CHF
7)USD/JPY
8)EUR/USD

I only ask as I would like to continue to think of VWB in this order until I have it down pat.

Thanks for any consideration.
  • #83
  • Mar 3, 2006 9:39am Mar 3, 2006 9:39am
Quoting dof
U got stoped guys 'cause u place wrong SL. I placed below 115.44 and everything is cool. Shouldn't SL be placed below local minimum?
I entered a little bit late because I didn't feel the momentum was really there.. I didn't see the speed therefore I entered a bit higher than everyone else, and I wasn't ready to place 100 pip stop. Limit losses and let gains run...
  • #84
  • Mar 3, 2006 9:42am Mar 3, 2006 9:42am
I took half profits just north of the tunnel on EUR/JPY (sweet)

Waiting for GPB/JPY to reach the tunnel before taking any profits off the table on this one.
  • #85
  • Mar 3, 2006 9:44am Mar 3, 2006 9:44am
Quoting Bemac
Hi Vishalshan,
Very concise and informative. Thank you.

I wonder if you could make a slight Mod?
Bemac, you are welcome..I'll re-sort it from next post.

Shan
  • #86
  • Mar 3, 2006 9:48am Mar 3, 2006 9:48am
Quoting vishalshan
Bemac, you are welcome..I'll re-sort it from next post.

Shan
Thanks Shan.
  • #87
  • Mar 3, 2006 12:44pm Mar 3, 2006 12:44pm
Quoting MrMajik
I took half profits just north of the tunnel on EUR/JPY (sweet)

Waiting for GPB/JPY to reach the tunnel before taking any profits off the table on this one.
Mr Majik, you caught my attention with the GBPJPY. What models do you use for this?
  • #88
  • Mar 3, 2006 12:55pm Mar 3, 2006 12:55pm
Quoting xspowerx
Mr Majik, you caught my attention with the GBPJPY. What models do you use for this?
Mine too, tell us more
Try hard, think fast, die young
  • #89
  • Mar 3, 2006 1:03pm Mar 3, 2006 1:03pm
Quoting vishalshan
Hope people are having fun with eurjpy pair..
I'm not up to speed completely on any of the Vegas methods but I can see how this simple 'scoreboard' style display would be beneficial to traders.

As a matter of fact I'm having a blast with the eur/jpy. If you look thru this thread you'll see I belatedly(but with plenty of time to get a long from 137.60s) spoke of the bottom that had been established in the lower 137s and mentioned one last spike down to come which happened although it was a muted one. What was interesting about that spike was it broke the trendline(TL)(4hr chart) that was established with the bodies of the candles which could have fooled some into thinking it was a break but I noticed that there was a wick on the candle containing the low that fell outside the developing TL. The wick off that fake break candle established another point below the TL that actually was followed by another candle 24 hours later that placed a third wick below the TL but it provided a third low that cleanly created a wick based TL as compared to the body based TL.

Of course that was the beginning of the week, now we are at the end of the week and it's been all gravy, all week. Now we see it sitting near the weekly high with it pressing the TL which is a pretty big one at that. I was trying to catch the top(which I did pretty well), write an entry here alerting traders to that potential top(which I did pretty well) and watch my girlfriend's kid(which I didn't do very well) all at the same time. I think I'm just gonna feed him to my oscar and be done with it.

Now looking at what we have with the euppy setup is alittle bit confusing. We have a weekly stoch at 50%(46.29) and in a clean bear move. We have a daily stoch almost at 50%(45.63) and in a clean bull move. We have a seriously overbought 4hr chart stoch and we have the price hugging on the upper TL as if it were a 16 year old trying to make moves on his girlfriend. With regard to the weekly chart I can see next week's action taking it back down to 138.08 but with the daily chart there's no real reason(TA speaking) for the daily chart to want to visit that level. All it's center of gravity is bundled up where the current is from 140. 25 thru 139.75. There is a significant EMA down at 138.50 but it just came off a touch of that EMA and I don't see any real motivation on the daily chart to revisit. Plus if it did drop down anything below 138.50ish would have broken a daily TL. Not to mention the price action is looking like it wants to test this TL again that it's hugging now and the wedge(triangle) it's been creating since this recent top is screaming bullish.

I'm looking foward to market open to see how this works out.
  • #90
  • Mar 3, 2006 1:06pm Mar 3, 2006 1:06pm
Quoting xspowerx
Mr Majik, you caught my attention with the GBPJPY. What models do you use for this?
I belive it is referred to the "Rookie" model.

When GBP/JPY went outside the daily lower fib I looked at how it behaved the last time it did this and took a chance. Just like the last time it is in no big hurry to go anywhere and I don't recommend trading like this. I am new to the VWB method and am still learning.

I am seriously considering closing this trade while it is still up around a hundred pips as it lacks momentum.
  • #91
  • Mar 3, 2006 1:06pm Mar 3, 2006 1:06pm
I hope this is the right place to ask this. Does anyone know what the code would be to plot the fib take profit lines on the chart like Vegas has with Metatrader 4 but for TradeStation? For example, the 144, 233, lines. I know all they are are simply lines plotted to always be a certain number of pips above or below a given moving average line, but I do not know what the code is to program it in TradeStation.
  • #92
  • Mar 3, 2006 1:07pm Mar 3, 2006 1:07pm
Quoting xspowerx
Mr Majik, you caught my attention with the GBPJPY. What models do you use for this?
I too am waiting to hear what model Mr.Majik uses.

Meanwhile. {not sure which MT model # it falls in. I use VT}
I use 377 {the Dotted Green Line.}
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  • #93
  • Mar 3, 2006 1:41pm Mar 3, 2006 1:41pm
Here is the chart I used that helped me to make the determination to buy GBP/JPY:


http://home.comcast.net/~brickyardroad/chart2a.bmp

Notice the two areas circled in yellow. The area to the left is a couple months ago and the smaller area to the right that is circled is the current price for Friday (today). I took a chance and opened a VERY small position on this and just closed it for 100 pip profit.

Not much to look at and it is not the Vegas method by the book but I just could not hold back my enthusiasm on this new way of trading.

I simply got lucky and don't recommend doing this.
  • #94
  • Mar 3, 2006 5:02pm Mar 3, 2006 5:02pm
Quoting MrMajik
Here is the chart I used that helped me to make the determination to buy GBP/JPY:


Notice the two areas circled in yellow. The area to the left is a couple months ago and the smaller area to the right that is circled is the current price for Friday (today). I took a chance and opened a VERY small position on this and just closed it for 100 pip profit.

Not much to look at and it is not the Vegas method by the book but I just could not hold back my enthusiasm on this new way of trading.

I simply got lucky and don't recommend doing this.
Nice luck... have this everyday and I'll call u master
Try hard, think fast, die young
  • #95
  • Mar 3, 2006 5:05pm Mar 3, 2006 5:05pm
Anybody holding USD / JPY?
Seems to me a cup & holder might be there. Anyone agree?
It was at the second FIB line.
Try hard, think fast, die young
  • #96
  • Mar 3, 2006 8:20pm Mar 3, 2006 8:20pm
Quoting MrMajik
I belive it is referred to the "Rookie" model.

When GBP/JPY went outside the daily lower fib I looked at how it behaved the last time it did this and took a chance. Just like the last time it is in no big hurry to go anywhere and I don't recommend trading like this. I am new to the VWB method and am still learning.

I am seriously considering closing this trade while it is still up around a hundred pips as it lacks momentum.
Ahh ok. You still caught my attention though LOL... I will look into it more tonight and see let you know what I come up with.

Just a suggestion, instead of closing your trade, why don't you move your stop loss up high enough where you still come out with a nice gain but at the same time it wont trigger a quick stop loss? Do this of course only if you have been keeping up and building up to your free trade.

That's what I did... I moved the remaining stop loss to a positive outcome from break even and just sitting on it. If i see a obvious reversal I will close out the remaining position for a gain.

Have a good weekend!
  • #97
  • Mar 3, 2006 9:05pm Mar 3, 2006 9:05pm
xspowerx,

I originally had a stop in place with the GBP/JPY trade but the trade was not selected using the proven VWB method. That made it an uneasy trade to live with. Also, it just was not moving with the momentum I hoped for. Toss in the fact that in the past I have given back enought pips to buy my wife a really good hound dog several times over and you have one nervous trader.

I captured a hundred pips. I clicked Close. I conquered. And I got lucky

MrMajik
  • #98
  • Mar 3, 2006 9:51pm Mar 3, 2006 9:51pm
Quoting MrMajik
xspowerx,

I originally had a stop in place with the GBP/JPY trade but the trade was not selected using the proven VWB method. That made it an uneasy trade to live with. Also, it just was not moving with the momentum I hoped for. Toss in the fact that in the past I have given back enought pips to buy my wife a really good hound dog several times over and you have one nervous trader.

I captured a hundred pips. I clicked Close. I conquered. And I got lucky

MrMajik
LOLOL yea I hear you.

Well I looked into the GBP/JPY gentlemen and I believe that models #2 and #3 are best for this currency. The extreme would be the 3rd fibs.

Let me know what you all think.
  • #99
  • Mar 3, 2006 9:58pm Mar 3, 2006 9:58pm
I only had model 1 selected when I posted the above chart. I agree that model 2 is a good choice to add with model 1.
  • #100
  • Mar 3, 2006 10:00pm Mar 3, 2006 10:00pm
Quoting MrMajik
I only had model 1 selected when I posted the above chart. I agree that model 2 is a good choice to add with model 1.
Yea I didn't like model one because it was to close to the tunnel and had to much price movement in it. The farther out you go the more peaks you can find. You don't want to go to far because then it limits your trading ability.
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