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VWVB Daily Chart Analysis

  • #561
  • Apr 19, 2006 3:34am Apr 19, 2006 3:34am
Quoting mwhalber
Personally, I am waiting to see a confirmation of reversal...you got some good numbers there so far, I hope I dont regret waiting!

What are the rest of you guys doing?

I'm waiting for a Reversal of some kind for confirmation, either a finished candle or a 50% retracement today (on GBPUSD oe EURUSD).

Got burnt yesterday by being impatient and buying CHF/USD. If only I could be patient I'd really do well at this game
  • #562
  • Apr 19, 2006 5:47am Apr 19, 2006 5:47am
Momentum divergences on 1 hr charts and 15 min charts keyed me in to enter here ... lets hope not too early!
hi ezcurrency,

could you please publish a couple of examples showing how you entered on the divergencies of momentum indicator. what settings you are using?

thanks
  • #563
  • Apr 19, 2006 6:10am Apr 19, 2006 6:10am
I'm also waiting for a reversal candle to form and I will let it close before entering a trade. Might leave a few pips on the table but it will reduce the risk factor considerably.



Quoting lachie74
I'm waiting for a Reversal of some kind for confirmation, either a finished candle or a 50% retracement today (on GBPUSD oe EURUSD).

Got burnt yesterday by being impatient and buying CHF/USD. If only I could be patient I'd really do well at this game
  • #564
  • Apr 19, 2006 6:13am Apr 19, 2006 6:13am
Quoting ezcurrency
Bought USDCHF 1.2679
Shorted GBPUSD 1.783
Bought EURCHF 1.5648 in the morning

Momentum divergences on 1 hr charts and 15 min charts keyed me in to enter here ... lets hope not too early!
WAY too early. There has been absolutely no market exhaustation/reversal signal at all as per the VWBII document. Remember, patence is KEY!
  • #565
  • Apr 19, 2006 7:14am Apr 19, 2006 7:14am
Quoting WTB
WAY too early. There has been absolutely no market exhaustation/reversal signal at all as per the VWBII document. Remember, patence is KEY!
Agreed...I am noticing that USDCHF is moving back up again, past two bars have been bullish, however, the Slope Change line on FF Tunnel Indicator (MT4) has not crossed the 8SMA...

Are you awaiting a candlestick formation? What confirmation do you all usually use in this situation?

Cheers!
Mike
  • #566
  • Apr 19, 2006 9:11am Apr 19, 2006 9:11am
Wow..so many pairs at watch list..I'll pick only those which comes with the best reversal setup. My experience is better to enter late rather entering early on this reversals and burning the account.

Hope we'll catch few good reversal setups this time.

Shan
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  • #567
  • Apr 19, 2006 9:24am Apr 19, 2006 9:24am
Wait till you can see the whites of their eyes before you pull the trigger.
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  • #568
  • Apr 19, 2006 9:47am Apr 19, 2006 9:47am
Quoting WTB
WAY too early. There has been absolutely no market exhaustation/reversal signal at all as per the VWBII document. Remember, patence is KEY!
Yeah, you ain't kidding...I also entered the GBPUSD too soon. Got stopped out on the hourly when the high of 17878 was taken out. I will wait for a better re-entry.

By the way. I have received the mt file for VWB, but how do I import it into MT4? I just downloaded and signed for a demo yesterday for the first time. wow..there's a lot going on in this platform!!
  • #569
  • Apr 19, 2006 9:54am Apr 19, 2006 9:54am
Quoting bernadette
Yeah, you ain't kidding...I also entered the GBPUSD too soon. Got stopped out on the hourly when the high of 17878 was taken out. I will wait for a better re-entry.

By the way. I have received the mt file for VWB, but how do I import it into MT4? I just downloaded and signed for a demo yesterday for the first time. wow..there's a lot going on in this platform!!
Check this post:

Quoting eastmaels
Place the indicator in the expers/indicators folder in the installation directory of your MT4 platform.

If you're using MT4 from strategy builder fx, you'll place the indicator in the ff. directory:
C:\Program Files\StrategyBuilderFX 4\experts\indicators

Close MT4 if it's open, then open it again..
You can also refer to this thread for reference:
http://www.forexfactory.com/forexfor...ead.php?t=4497

Hope this helps,
East
  • #570
  • Apr 19, 2006 10:00am Apr 19, 2006 10:00am
Quoting Purple
Check this post:
  • #571
  • Apr 19, 2006 10:12am Apr 19, 2006 10:12am
Quoting vishalshan
Wow..so many pairs at watch list..I'll pick only those which comes with the best reversal setup. My experience is better to enter late rather entering early on this reversals and burning the account.

Hope we'll catch few good reversal setups this time.

Shan
Shan,

Thanks again for your summary.

I agree there are a lot of pairs to analyze and some good opportunities here. I do not have access to trading during the day, but as of this morning, I have not initiated any positions. I thought that GBP/USD had a little more upside before initiating a short, but I think we could be getting close. I will re-assess my strategy on this pair later this evening. I will take a look at the others as well, and compare my notes…


Regards,



Mike

  • #572
  • Apr 19, 2006 10:24am Apr 19, 2006 10:24am
FYI…for those that may be interested. I have been following the NZD for a little while now as the pair got creamed of late, but has made some re-tracement. I have a small long position here, and the trend has changed from down to up which may present further upside. This is a risky trade as the NZD is under pressure. The NZD hit a three week high of $0.6259 after stronger than expected retail sales. Previously the currency had fallen 13 per cent from its high, prior to this small correction, as negative economic data suggested the central bank may be forced to cut interest rates. Such a move would erode the yield advantage which has supported the kiwi.

I am watching the trade carefully. I think we may see some ST gains, but it could fall hard again down the road due to the deteriorating economics. The NZD has attracted the wrong type of headlines in recent weeks over fears that its currency is about to collapse and herald a recession that could affect neighboring economies such as Australia.

I keep on moving my stop up to protect profits, but will watch for a reversal for a short position down the road.


Mike
  • #573
  • Apr 19, 2006 11:39am Apr 19, 2006 11:39am
This is why I didnt take the short VWB trade few hours ago (see picture below).
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  • #574
  • Apr 19, 2006 11:42am Apr 19, 2006 11:42am
WTB thanks for the explanation....but..could u tell me...which pais is that and the time frame???
thanks m8...
Good trading
MatiasFX
  • #575
  • Apr 19, 2006 11:45am Apr 19, 2006 11:45am
Sorry Matias, I forgot that important detail sorry. It's the GBPUSD 1H chart.
  • #576
  • Apr 19, 2006 11:49am Apr 19, 2006 11:49am
Thanks WTB now i know what u mean!!
Good trading
MatiasFx
  • #577
  • Edited 12:23pm Apr 19, 2006 12:12pm | Edited 12:23pm
Yes, thanks for posting that WTB.

I've been so busy studying the VWB documents that I completely forgot about the basics (trendlines. chart patterns, etc...) and how important they are in guiding us into and out of trades. Doh!

I need a good smack in the head a few times a week to wake me up!


Quoting Matiasfx
Thanks WTB now i know what u mean!!
Good trading
MatiasFx
  • #578
  • Apr 19, 2006 12:56pm Apr 19, 2006 12:56pm
Yes, nice point WTB.


From a fundamental perspective the pound took advantage of dollar vulnerability and continued to strengthen. Sterling will secure some further protection against the dollar from the reduction in US interest rates expectations in the short term, but there are still likely to be concerns over the UK economic outlook, especially in the manufacturing sector.


Mike
  • #579
  • Apr 19, 2006 8:54pm Apr 19, 2006 8:54pm
Anyone out there long USD/ CHF ? I just open long @ 1.2700 on a previous day close of a doji stop and reverse are below that doji @ 1.2650 . Give me some feed back...
  • #580
  • Apr 19, 2006 8:59pm Apr 19, 2006 8:59pm
I like it. Maybe your trade will kick the GBPUSD of it's pedestal . HaHa
I would like to short it, but think I will wait. Like watching paint dry or maybe pro bowling... SMJ


Quoting vinn234
Anyone out there long USD/ CHF ? I just open long @ 1.2700 on a previous day close of a doji stop and reverse are below that doji @ 1.2650 . Give me some feed back...
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