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forex chart !

P: 9/19/2011 9:13:43 AM

smyko

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Total Posts: 2
Last Post: 9/20/2011
Member Since: 9/11/2011

Hi Everyone !

I am probably going to purchase wave59 and join your community in next couple of weeks. I ve been reading this forum, researching market opinions about this product and I'm convinced that this is a great product !

However, I'm trading forex and since there isnt much disscussion here about trading forex with wave59 and some people cast doubts whether all w59 great tools will work with forex market, I would like to kindy ask someone to post a chart of short time frame ( say 1min or 2 min ) of eur/usd or any other currency pair with some basic w59 indicators on it, such as exhaustion bars 2, 9-5 count, fractal trend, smart money index.

I realize it will not help me with anything, but I'm curious if forex charts look so appealing as futures charts in wave59 showcases.

Thank you in advance and have a nice day !

Piotr

Revisions : 0 | Posted: 9/19/2011 9:13:43 AM | IP: Recorded | Report this post

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P: 9/19/2011 3:06:23 PM

KenC

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Last Post: 5/21/2013
Member Since: 1/12/2005

Piotr,

Here's a sample chart of the EUR, with Smart Money Color Bars, Exhaustion 2 dots, and the 9-5 counts.

And the entire last week may be viewed here as a flash video: http://www.dnaspirals.com/shared/EurFX.swf

Regards,

Ken Churchill
Wave59 Solution Provider
Montage

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EURfx.gif | Posted: 9/19/2011 3:06:23 PM | IP: Recorded | Report this post

P: 9/20/2011 1:44:32 AM

Barrie

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Last Post: 5/13/2013
Member Since: 1/22/2004

1 min Eur/Usd for the 19th with the 5 point tool and the fractal trend indicator

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eu9-19-2011 11-41-22 PM.png | Posted: 9/20/2011 1:44:32 AM | IP: Recorded | Report this post

P: 9/20/2011 1:55:28 AM

Barrie

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Last Post: 5/13/2013
Member Since: 1/22/2004

5 min euro with the 5 point tool with AC static timing pointing to the high and the fractal trend

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eu9-19-2011 11-48-29 PM.png | Posted: 9/20/2011 1:55:28 AM | IP: Recorded | Report this post

P: 9/20/2011 10:52:03 AM

smyko

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Last Post: 9/20/2011
Member Since: 9/11/2011

Thank you everyone for your help !

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P: 9/22/2011 5:37:45 PM

shami

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Last Post: 3/26/2013
Member Since: 10/14/2010

Hi smyko

i am working in forex market too and i will join this great community in the next couple of weeks,

i have seen many example how wave59 tools work on stock and fx too and you can check the few example mr.Barrie share here

Revisions : 0 | Posted: 9/22/2011 5:37:45 PM | IP: Recorded | Report this post

P: 9/23/2011 1:58:44 PM

amala

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Last Post: 2/8/2012
Member Since: 9/13/2011

Is interesting, if you look at the time period of that post. Euro immediately jumped up beyond all those resistance levels.

Amala

Revisions : 0 | Posted: 9/23/2011 1:58:44 PM | IP: Recorded | Report this post

P: 9/24/2011 10:49:11 AM

dirk

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Last Post: 5/21/2013
Member Since: 7/5/2008

Date: 9/19/2011 9:13:43 AM Author:smyko Hi Everyone !

I am probably going to purchase wave59 and join your community in next couple of weeks. I ve been reading this forum, researching market opinions about this product and I'm convinced that this is a great product !

However, I'm trading forex and since there isnt much disscussion here about trading forex with wave59 and some people cast doubts whether all w59 great tools will work with forex market, I would like to kindy ask someone to post a chart of short time frame ( say 1min or 2 min ) of eur/usd or any other currency pair with some basic w59 indicators on it, such as exhaustion bars 2, 9-5 count, fractal trend, smart money index.

I realize it will not help me with anything, but I'm curious if forex charts look so appealing as futures charts in wave59 showcases.

Thank you in advance and have a nice day !

Piotr

Wave 59 works perfectly in any market and for me is fantastic in forex......i trade only forex plus gold , silver crude and some other futures .......

long time ago i had here a topic regarding the forecast forex........anyway you need a lot of time and a lot of patiente to find the right tools for you...just to give you an example here my forecast chart H4 on GBPCAD........this market followed perfectly the lines of future.....these where note in advance off course.......

my main decision to trade is based always on forecast chart ..........good luck....

[url=http://www.postimage.org/]

[/url]
[url=http://www.postimage.org/]image hosting[/url]

Revisions : 0 | Posted: 9/24/2011 10:49:11 AM | IP: Recorded | Report this post

P: 1/25/2012 10:43:36 PM

rlite4

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Last Post: 5/14/2013
Member Since: 12/8/2011

Date: 9/20/2011 1:55:28 AM
Author: Barrie

5 min euro with the 5 point tool with AC static timing pointing to the high and the fractal trend

I too am in the same boat as Symko and was wondering if I could use W59 (Fantastic program from what ever I have seen here) with Forex and from seeing the posts in this thread looks great. The question I have is do the plots you make Barrie (and the others shown in this thread) require special add ons or are they standard with W59 and would it be OK to use IB data only? TIA

Revisions : 0 | Posted: 1/25/2012 10:43:36 PM | IP: Recorded | Report this post

P: 1/27/2012 10:34:39 AM

earik

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Last Post: 5/20/2013
Member Since: 11/6/2003

Hi Rlite4,

Nothing that has been posted in this thread requires any special add ons. These are all tools that come standard with the program. Lots of Forex traders on this these days.

Regards,

Earik

Revisions : 0 | Posted: 1/27/2012 10:34:39 AM | IP: Recorded | Report this post

P: 1/27/2012 10:06:43 PM

rlite4

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Total Posts: 17
Last Post: 5/14/2013
Member Since: 12/8/2011

Hi Earik,

Thanks for clarifying that. I am awed by all the work you and others on this site have done. I am looking forward to joining this community.

regards,

rlite4

Revisions : 0 | Posted: 1/27/2012 10:06:43 PM | IP: Recorded | Report this post

P: 2/5/2012 10:57:36 AM

Fabio

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Last Post: 2/6/2012
Member Since: 2/5/2012

Hi Earik,
I'm new on this forum and I find very interesting all the stuff posted here.
I'm also a Forex trader with +/- 3 years of experience. I never used any of the tolls you are using. I start to use all the laaging indicators, as most of everybody, and now since 6 month I'm only using the Volume spread analysis principle , with some quite success.
I would like to ask a couple of questions:
1- does your indicators work on MT4 platform? I guess not .
2- which is the best indicator working on Forex let's say EURUSD ? Fibonacci Vortex ? or something else.

Thanks
Fabio

Revisions : 0 | Posted: 2/5/2012 10:57:36 AM | IP: Recorded | Report this post

P: 2/6/2012 3:47:58 AM

w59andy

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Total Posts: 77
Last Post: 4/15/2013
Member Since: 2/14/2011

Hi Fabio,

VSA is a great methodology standalone, but with the addition of some of the w59 tools, it can become even better. I don't think there is a 'best' indicator, it's all about finding what works for you, and what suits your personal psychology etc.

My favourite VSA principle is by far no-demand after a strong SOW. If you then get something as simple as a red exhaustion dot on that no demand bar (or very soon afterwards), it's a very high probability short, in my opinion. My point is that you don't even need anything as complex as the vortex or other geometrical/astrological tools, just the standard canned (but proprietary) indicators, such as exhaustion bars, USM etc, can yield great results when used at the CORRECT time. As with all indicators, you can't force fit them to work in every scenario/market phase, but when used with a robust external methodology, such as VSA, they really come alive.

Revisions : 0 | Posted: 2/6/2012 3:47:58 AM | IP: Recorded | Report this post

P: 2/6/2012 7:57:49 AM

rlite4

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Total Posts: 17
Last Post: 5/14/2013
Member Since: 12/8/2011

Hi W59Andy, Fabio

Thanks for the info, a few questions:
(1) Exhaustion bars I am assuming is present on W59, how / (what platform) do you (use to) get the VSA conditions (no-demand after strong SOW etc.)?
(2) Any pointers to a good source of information on VSA and for a practical understanding of it? and,
(3) any rough idea of the number of trades one finds, per week say, using this method on a pair like the EURUSD

Thanks for any pointers.

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P: 2/6/2012 8:42:42 AM

w59andy

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Total Posts: 77
Last Post: 4/15/2013
Member Since: 2/14/2011

I don't use any software for the VSA conditions, and I don't really use VSA much at all to be honest, certainly not strictly. I just use experience and discretion to determine when something like 'no demand' comes into the market.

On the attached chart you can see the first bar marked with yellow dot is an ultra high volume bar. We know this MUST be selling volume for 2 reasons - firstly the next bar is down, and secondly (and much more importantly) you would NEVER get a lot of professional buying initiated at that location - i.e. after a big run up in price. This is the first factor - a strong sign of potential weakness. The market then falls off for a few bars, then approaches the high again, but notice the volume now (marked with green dot) - it's SIGNIFICANTLY lower, and certainly the lowest of the prior few bars... this is now showing no-demand. Again I stress that I do not use strict VSA rules, such as the no-demand bar must be a small bar closing at x, etc, I'm simply looking at the general principle - i.e. we have an initial sign of weakness, and now as we go back towards that high we have low volume, showing LACK OF INTEREST TO THE UPSIDE.

If this sort of signal arises, it's a strong short on its own. But if you now also have one of the many proprietary w59 tools indicating the same directional bias, the odds increase even further. That was the underlying point of my prior message, nothing more. It's not a mechanical approach with x number of trades per week etc, it was just a quick explanation of how the incredible tools within w59 can be used beautifully alongside a general understanding of true underlying market dynamics. And that is after all the key - you must FIRST understand how and why the market moves (supply/demand/volume etc) and then use tools, such as within w59, to confirm or deny your analysis. This point is crucial, but one so many new traders overlook. They eyeball a chart for 5 mins with something like the exhaustion bar study, get excited, then try and trade them all mechanically! Just like ANY indicator, this will not work! You must first seek to understand the basics of markets, then add in the indicators if you wish.

Regarding further info on VSA - Google 'tom williams VSA' and you'll find lots of information. He has written a great book called 'master the markets', which is a staple for every traders library, in my opinion. You may even be able to find a free copy at scribd.com

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P: 2/6/2012 8:43:32 AM

w59andy

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Attachment...

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P: 2/6/2012 9:53:15 AM

rlite4

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Total Posts: 17
Last Post: 5/14/2013
Member Since: 12/8/2011

Hi W59Andy,

Thanks for the detailed explanation and for putting me back on the correct track - much appreciated.

Revisions : 0 | Posted: 2/6/2012 9:53:15 AM | IP: Recorded | Report this post

P: 2/6/2012 10:12:16 AM

Fabio

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Last Post: 2/6/2012
Member Since: 2/5/2012

HI W59andy,
thanks for the very nice explaination.
As I said previously I'm using, for a while now, the VSA to trade FOREX with some success , but like you say you must see the global picture and not only focusing on 1 TF (e.g 5m or 15 min).VSA is not a mechanical system ;-0
Hereafter I post a very good link of TradeGuider (Tom Williams and Gavin Holmes) where you can find a lot of informations , some for free as well

http://www.tradeguider.com/

BTW, you talk about Exhaustion bars, USM that can be used in conjuction with VSA.
Can you give me more explaination about those indicators ? As I said I'm quite new on w59 site, but I'm very interested to join. My only problem, I think I also said before sorry for the repetition, I'm using MT4 platform. This is the most common among Forex retailer broker.
Can those w59 indicator run on it ?

Thanks again
Fabio

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P: 2/6/2012 10:33:37 AM

w59andy

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Total Posts: 77
Last Post: 4/15/2013
Member Since: 2/14/2011

No probs rlite4. VSA is quite easy to get bogged down in (there are after all hundreds of different 'official' VSA signals!), but it's really very simple if you think about what's going on and stick to the basic principles.

For example, if you see very high volume after a big run up in price with no further headway made, it will almost always be professional SELLING coming into the market. Likewise, if you see very high volume after a big decline in price, it will almost always be professional BUYING coming into the market. The reasons for this assumption are simple if you think about what's going on...

Where do you think the professionals (smart money) are trading? Do you think they wait for price to rally 150pts on the day, then start buying near the highs?! Would that represent a good value location, or a good WHOLESALE location, for them to start working some long inventory?! Of course not - it would actually be the opposite - i.e. a good retail location to start working some short inventory. It's the herd (novices) that buy breakouts to new highs etc, whilst the pro's are selling into that.

Simply having knowledge of that sort of basic market function is an edge in itself. VSA simply attempts to mechanise these sort of underlying dynamics, but for me, all you need is a basic understanding of the general principles behind the signals.

Obviously the above explanation is generalised and simplified, there is a lot more to take into account at any one time, and there are of course exceptions to the rules. For example, high volume after a run up in price could actually be bullish absorption volume if it's trying to break out of a supply zone over to the left. The key is usually looking for whether price is making any headway or not.

Link these type of basic market observations (to give general bias direction) with the tools within w59 (to give exact triggers) and you have the makings of consistent profitability.

Fabio - Regarding more info on these tools, Earik has produced countless videos and instructional documents on all the w59 features. They will not work on mt4 because many are proprietary... you need to get w59 and explore them for yourself.

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P: 2/7/2012 2:06:50 AM

dirk

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Last Post: 5/21/2013
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Date: 2/6/2012 10:12:16 AM Author: Fabio HI W59andy,
thanks for the very nice explaination.
As I said previously I'm using, for a while now,  the VSA to trade FOREX with some success , but like you say you must see the global picture and not only focusing on 1 TF (e.g 5m or 15 min).VSA is not a mechanical system ;-0
Hereafter I post a very good link of TradeGuider (Tom Williams and Gavin Holmes) where you can find a lot of informations , some for free as well

http://www.tradeguider.com/

BTW, you talk about Exhaustion bars, USM that can be used in conjuction with VSA.
Can you give me more explaination about those indicators ? As I said I'm quite new on w59 site, but I'm very interested to join. My only problem, I think I also said before sorry for the repetition, I'm using MT4 platform. This is the most common among Forex retailer broker.
Can those w59 indicator run on it ?

Thanks again
Fabio

MT4 is a piece of sheet software.........to use these tools you must have wave59 software.....

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P: 4/20/2012 5:30:20 PM

rlite4

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Last Post: 5/14/2013
Member Since: 12/8/2011

I have looked a little at Barrie's 5 point pattern thread and though the charts and details look fantastic, I am a little lost. Can some one point me to some basic information on the 5 point pattern and how to use it with the standard tool(s) available in W59. TIA

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