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Powerful Fib Based System - by DAZfx

  • #401
  • Apr 1, 2008 5:28am Apr 1, 2008 5:28am
Quoting Pip
Mazdaz

Thank you for your opinion about how to setup profit targets.
I choose Target profits more agressive because we have a high range confirmation bar after enter the trade. With my option I have a risk reward of 2.35. However in order to have a lower risk and to cash profits your approach is better (R.R of 1.67).

I am attaching a picture with the two options.

Have nice pips !!!
Useful MMgnt sheet you have there, Pip. Will create something similar while the next trades set up.
  • #402
  • Apr 1, 2008 5:36am Apr 1, 2008 5:36am
EJ short anyone?? See the setup?

GU should be put on the radar as well.
  • #403
  • Apr 1, 2008 5:38am Apr 1, 2008 5:38am
Quoting mazdaz
EJ short anyone?? See the setup?

GU should be put on the radar as well.

good setup but stoch needs to cross!
  • #404
  • Apr 1, 2008 5:41am Apr 1, 2008 5:41am
Quoting Joe82
good setup but stoch needs to cross!
Ofcourse. Still not ready.
  • #405
  • Apr 1, 2008 5:44am Apr 1, 2008 5:44am
Quoting popisdead
EURGBP
on 30min,
ema21 already intersected ema60! indicate downtrend on smaller TF!

could be reaching ema200 as well!!
who knows..

just my idea!

pid
maybe reached point of retracement..

waiting for next SHORT setup..

pid

http://pic50.picturetrail.com/VOL400.../311301883.jpg
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  • #406
  • Apr 1, 2008 6:00am Apr 1, 2008 6:00am
Quoting mazdaz
EJ short anyone?? See the setup?

GU should be put on the radar as well.
EJ

on 30mins..looking very good setup for short!

what do u guys think on 30min?

has anybody experienced success on smaller tf?

pid
http://pic50.picturetrail.com/VOL400.../311304009.jpg
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  • #407
  • Apr 1, 2008 6:05am Apr 1, 2008 6:05am
Haven't tried 30mins, but on 15mins, there are loads of setups, but the success rate decreases.
  • #408
  • Apr 1, 2008 6:12am Apr 1, 2008 6:12am
Would this be a good setup ? I would enter on next candle after this one, which is just beeing formed, if this one remains bearish.
Also we need to wait for stoch to cross.

I'm just learning, so.... please help me out
Attached Image
  • #409
  • Apr 1, 2008 6:16am Apr 1, 2008 6:16am
Quoting popisdead
USDCHF
possible re-short now?

pls comment

Note:
Fibo is ontf1h,but im looking at tf30min..
popisdead can you post your fib indicator that shows the profit target please? Many thanks!
  • #410
  • Apr 1, 2008 6:38am Apr 1, 2008 6:38am
Quoting Miguel
popisdead can you post your fib indicator that shows the profit target please? Many thanks!
its standard FIB EXPANSION! draw your FIB EX..and then use properties to rename the fib line! pop
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  • #411
  • Apr 1, 2008 6:48am Apr 1, 2008 6:48am
I see some people are having trouble seting up a fib tool, hope this will help.

Right click the fib tool button - CUSTOMIZE - in the "available" list click on Fibonacci Expansion and - INSERT -. Now you have your tool available straight from main platform window.

Fibo properties:
Level Description
1 100% %$ (you actualy don't need this one)
0.786 78.6% %$
0.618 61.8 %$

Fibo Expansion properties:
Level Description
0.5 T1 50% %$
0.618 T2 61.8% %$
0.786 T3 78.6% %$
  • #412
  • Apr 1, 2008 7:22am Apr 1, 2008 7:22am
Have my eye on GU, wondering if this fib might play out short...not an ideal setup though on the hrly, too many candles really, the 4hr looks better, although the stoch has much more work to do on that TF.
Attached Image (click to enlarge)
Click to Enlarge Name: GU - (1) 1st Apr 08.GIF Size: 56 KB
  • #413
  • Apr 1, 2008 7:30am Apr 1, 2008 7:30am
Quoting ChowClown
Have my eye on GU, wondering if this fib might play out short...not an ideal setup though on the hrly, too many candles really, the 4hr looks better, although the stoch has much more work to do on that TF.
18 Candles are many.. we should wait till it retrace.. could work cause of the downtrend..
  • #414
  • Apr 1, 2008 7:36am Apr 1, 2008 7:36am
EJ has kissed us goodbye!! if this continues, EJ longterm trend might become bullish.
  • #415
  • Apr 1, 2008 7:39am Apr 1, 2008 7:39am
Quoting ChowClown
Have my eye on GU, wondering if this fib might play out short...not an ideal setup though on the hrly, too many candles really, the 4hr looks better, although the stoch has much more work to do on that TF.
Well spotted. Hidden Bearish Divergence (trend continuation) as well.
  • #416
  • Apr 1, 2008 7:51am Apr 1, 2008 7:51am
Quoting mazdaz
Well spotted. Hidden Bearish Divergence (trend continuation) as well.
Shooting Star is forming.. I wonder if it retraces..
  • #417
  • Apr 1, 2008 7:57am Apr 1, 2008 7:57am
Quoting suspect
Shooting Star is forming.. I wonder if it retraces..
If this isn't bearish anymore, I will eat this post.
  • #418
  • Apr 1, 2008 8:00am Apr 1, 2008 8:00am
we have an outside bar.
  • #419
  • Apr 1, 2008 8:12am Apr 1, 2008 8:12am
Quoting ChowClown
Have my eye on GU, wondering if this fib might play out short...not an ideal setup though on the hrly, too many candles really, the 4hr looks better, although the stoch has much more work to do on that TF.
Entered short GU 9808 with 3 lots, targeting FE50, 61.8 and 78.6. Initial stoploss just above last swing high.
  • #420
  • Apr 1, 2008 8:16am Apr 1, 2008 8:16am
I am going to let this confirmation candle play out as per the system. Even if this goes down, I have faith in the 5SMA, hopefully, it will get me into this move.
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