Quoting vishalshanDisliked03/16/2006 at 9.45am est..
Disclaimer :
Please note that I'm just giving my own observation about VWB trades and not an expert in this. This should not be considered as trade recommendations. Please trade with your own analysis.Ignored
Thanks..
- | Joined Aug 2004 | Status: Member | 6 Posts
I'm just getting around to disecting the charts in the VWB docs. I'm assuming Vegas went in and put these dots in after the fact, so I'm wondering what criteria some of the bars met to be considered Reversal Bars (RB).
Chart 1.
1) The first dot (A) makes a higher high, and doesn't make a lower low. Is it a good RB candidate because it's a long bar that closes down? Where would you put your entry order? The next bar looks like it just misses retracing 50% (from the close of (A)). Do you put an entry at a 50% retracement and another below the bottom of the bar, and just take the higher entry? (Let's assume you're working and/or sleeping so you can't watch a lower timeframe; you're just trying to make end-of-day decisions based on these charts.)
What makes (A) a good RB that the previous down bar (Z) lacks? Z makes a lower high and lower low, but doesn't move as much.
2) For the bars marked (B) and (D) do you just enter immediately on the open of the next bar, or set an entry order below the RB? If you wait for a retracement with no entry below (B) you'll miss the trade.
3) Assuming the (E) RB is the green bar that makes a low, what makes it a good RB? Why isn't the previous green bar a RB?
4) Why aren't either of the pseudo-crosses marked (G) good RBs?
5) For (F) would you place your stop above the high (green bar) or above the RB? It looks like it gets stopped out. Do you look to re-enter immediately or wait for another touch of the fib line?
That's all for now, but there are a bazillion more charts
http://i71.photobucket.com/albums/i140/DateRaider/1.jpg
Chart 1.
1) The first dot (A) makes a higher high, and doesn't make a lower low. Is it a good RB candidate because it's a long bar that closes down? Where would you put your entry order? The next bar looks like it just misses retracing 50% (from the close of (A)). Do you put an entry at a 50% retracement and another below the bottom of the bar, and just take the higher entry? (Let's assume you're working and/or sleeping so you can't watch a lower timeframe; you're just trying to make end-of-day decisions based on these charts.)
What makes (A) a good RB that the previous down bar (Z) lacks? Z makes a lower high and lower low, but doesn't move as much.
2) For the bars marked (B) and (D) do you just enter immediately on the open of the next bar, or set an entry order below the RB? If you wait for a retracement with no entry below (B) you'll miss the trade.
3) Assuming the (E) RB is the green bar that makes a low, what makes it a good RB? Why isn't the previous green bar a RB?
4) Why aren't either of the pseudo-crosses marked (G) good RBs?
5) For (F) would you place your stop above the high (green bar) or above the RB? It looks like it gets stopped out. Do you look to re-enter immediately or wait for another touch of the fib line?
That's all for now, but there are a bazillion more charts
http://i71.photobucket.com/albums/i140/DateRaider/1.jpg
Hey Vishalshan, thanks alot for posting your observations.
Your informative model is showing that its near and your already at the next step of 'looking for a reversal'
Like many here I can almost taste a reversal before it happens
I believe what shan is implying is it is time to take note of the pairs that are close to the outer fib because a reversal could be in the near future.
Like many here I can almost taste a reversal before it happens
I can taste it better especially after a nice cold beer on a warm day
hahaha.