DislikedUSDCHF..so far 40+pips
USDJPY 30+pips
EURAUD 40+pips
excellent day..
pidIgnored
1.7115
+68pips!
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DislikedUSDCHF..so far 40+pips
USDJPY 30+pips
EURAUD 40+pips
excellent day..
pidIgnored
DislikedI am not trading today but there were a few setups on the hourly. But most of them were against the trend. Here is a textbook trade that I would have taken had I decided to trade today.
You can see how the next candle after entry was a news candle that went in our favour and you might say that it conflicts with the rule of not trading news. But there were three things that a subjective trader would have taken into consideration.
1) Risk/ Reward ratio was excellent (only 25 pip stop loss)
2) Bullish Hidden Divergence on the Stochs
3) We were expecting the dollar rebound with the US Housing Market stablising and hence, a good news release.
Attachment
Note: Just realised that the fib extension point of B should be a bit higher on the chart. So the price projections would be a few pips higher.
ThanksIgnored
DislikedHello everyone,
just a dumb question
I see that you can have on charts the fib levels with the price indicated, like this: 1)
Mine is like that: 2)
I can't find the way to get 1) in fib properties.
Could you help me, please?
And thanks to you Dazfx for your system.
BirdyIgnored
DislikedHi Birdy,
To put the price on Fib retrace,ment or Fib expansion levels, you :
1. Click on the Fib line to select it.
2). Left click and then select Expansion Properties (say)
3). Go to tab Fibo Levels
4. Edit the Description filed of a level entry, after the description insert ' %$' but without the quotes.
Note that you can also add in new levels if you so wish by clicking on the ADD.
5. The just click OK to finish and it is done - the Fib will show your modifications.
5Ignored
DislikedAnybody for GBP/JPY short on the 4 hr? Just waiting for the stochs to hook down...Ignored
DislikedHi David,
Its 12:33am here in the UK, but I will try my best to answer your questions.
1) The ideal setup is when the levels are touched to the pip, or when they are tested (candle close inside the levels). Then you have the setups where the candle is a few pips short of the levels. If you keep your AB waves short (4-10 candles) by moving to the appropriate TFs, you will be surprised at how often price respects these levels, especially when its moving with the longer term trend. Price could go beyond 78.6, but it should close below the level.
2) Yes, the hook up/down should happen either in the Confirmation Candle or the Entry Candle.
3) Looking back at my initial post, I can see I haven't made it very clear. Its Target 3.
4) When I first came up with this strategy, I moved stop to b/e upon hitting target 1. The problem with that is price will hit my entry point and continue moving in my direction taking out the other targets. This happens much frequently than price reversing at target 1.
5) 15/20 winning trades. 3/20 hit stop. 2/20 hit stop after hitting Target 1. All based on trades taken on the hourly time frame and mostly following the rules.
As you quite nicely said, this is just a ballpark idea, I don't want to mislead anyone.
Having said all this, the Entry, Exit rules are what I follow (My emotions do get the better of me sometimes) and not a requirement for this system to work effectively. I am sure there are better entry/exit strategies out there.
I hope I have answered your questions to your satisfaction.
-DAZ-Ignored
QuoteDislikedWhat has happened to DAZfx,
has he been abducted by aliens?
DislikedHi all, everybody has been longing to see the return of Daz... I think we will see more of Daz by next week but in meantime, we should keep posting our entries on the thread.
ThanksIgnored
DislikedHi Everyone,
First of all, I am very sorry for not being active. I was in Dubai the past week on a very important meeting. I told my friend to inform everyone in the room.
I am back now, and hopefully, we can start from where we left off.
-Daz-Ignored