Quoting mrgreenDislikedMy connection to SBFX is good. IS updating as of 21:00
or my local time 3:00 CentralIgnored
Fundamental Analysis, Technical Analysis Or Graph Analysis? 28 replies
100% Daily Chart Analysis 64 replies
What is the difference between an "interday" chart and "intraday" chart? 2 replies
Quoting WTBDislikedHello Shan and thank you for the detailed answer.
One further question just to make sure I have understood everything. Those a-to-d elements listed above, are they exclusive or mutually required? I mean, let's say you get a short knife signal (point b), but Vegas 3 concepts (point a) havent quite presented themselves as they should -lack of momentum or whatever-. Do you still take that short knife signal, or if point a) aint there you just drop any possibility of entering at all? What about if you dont get either point a) or point b) but you do get a sweet pin bar on the daily chart off the extreme fib line?
Sorry for so many questions. I just wanna make sure Im in the same page when reading your VWB tables.Ignored
Quoting bakrob99DislikedShan
one more thing...
Is this entry system the proprietary method taght in the James16Group courses?
BAKROBIgnored
Quoting bakrob99Dislikedvishalshan http://www.forexfactory.com/forexfor...ser_online.gif vbmenu_register("postmenu_50342", true);
Can you tell me when you initiated each of those trades (in your chart above) in GMT Day and time...
The reason is it would help me to be able to see the chart as you did at the time you made your
decision to enter.
Thanks
BAKROBIgnored
Quoting zenophyteDislikedHate to keep bugging you Shan but ,what are "Huge BEOP/BUOBs ".I just can't get my head around that acronym.
ThanksIgnored
Quoting vishalshanDislikedZeno,
BEOB - Bearish Outside bar
BUOB - Bullish Outside bar
These are price action acronyms being dealt by Jim in his PF.
ShanIgnored
Quoting vishalshanDislikedWTB,
Here is what I do..
For entries:
1. First wait for the price to breach the extreme fib.
2. Look for reversal signal. All reversal signals would not satisfy vegas 3 concepts. Here is the order of preference I go with.
a. Look for vegas 3 concepts.
b. Look for Knife entry signal.
c. Look for distinct price action like nice PIN bars, Huge BEOP/BUOBs etc, in daily charts.
d. Look for very strong weekly trendline resistance/supports.Ignored
Quoting vishalshanDislikedIs USD getting stronger after Trade Balance news or just a spike?Ignored
Quoting rongshihongDislikedI am already long with the USD/CAD.
Do you see any confirmation of the reversal of this currency pair? I entered based on the slope change in the 4hour method.Ignored
Quoting vishalshanDislikedGood catch..I'm also long with USD/CAD at 1.1489 based on knife entry. Let's see how this goes..
ShanIgnored
Quoting vishalshanDislikedIs USD getting stronger after Trade Balance news or just a spike?Ignored
Quoting ForexMikeDislikedAlthough the trade data came out a little better than expected, I think the dollar rally should be limited as the prospects for the trade deficit still aren't very good.
Furthermore; I believe that FX markets will become more concerned over the burgeoning US current account deficit and that this will contribute to a weakening dollar later this year.
With respect to the USD/CAD trade - I agree that as of last evening the Fib line was breached which presented a buying opportunity. The pair was staying in oversold territory, and in my mind there was a possibility that the pair could have declined further, and with the news coming out today, I did not take the trade, but will look at this again this evening. I think we could see a bump up, then perhaps a decline again…
MikeIgnored
Quoting vishalshanDislikedGood catch..I'm also long with USD/CAD at 1.1489 based on knife entry. Let's see how this goes..
ShanIgnored
Quoting vishalshanDislikedThanks Mike for the nice inputs.Ignored