FOZZY Method CROSSES | Page 24 | Forex Factory

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FOZZY Method CROSSES

  • #461
  • Jun 12, 2007 11:37pm Jun 12, 2007 11:37pm
Seems the explosion of USD/JPY has put some downside pressure on NZD/USD and today's AUD/USD cross. For those still holding, if retail sales can comes in as expected or above average, hopefully we will all see our TP's hit.

Good trading to all
  • #462
  • Jun 13, 2007 2:07am Jun 13, 2007 2:07am
I'm long on GBP/JPY.First lot closed +40 and the second still runs +102 and the AUD/USD cross it seemed a little bit wild for my taste so i passed.
CU later guys
  • #463
  • Jun 13, 2007 2:14am Jun 13, 2007 2:14am
I played Monday's Inside bar on U/J and just got out with 45 pips. Still holding on to the AUD/USD and AUD/JPY cross right now
  • #464
  • Jun 13, 2007 2:16am Jun 13, 2007 2:16am
GBP/JPY looks like a cross and signal is happening on the daily, but I may wait unitil the close of the candle (5pm est). The cross has already happened on 4h
  • #465
  • Jun 13, 2007 2:40am Jun 13, 2007 2:40am
Quoting Brolin69
I'm long on GBP/JPY.First lot closed +40 and the second still runs +102 and the AUD/USD cross it seemed a little bit wild for my taste so i passed.
CU later guys
I closed the second +76.It was droping like a brick so i di it, i didnt wait to hit my SL.Maybe i was wrong>We'll see
  • #466
  • Jun 13, 2007 8:45am Jun 13, 2007 8:45am
As usual, this pair has provided some excitement. You could make a case for entering this BUY on June 8, but it would have taken a lot of courage to do so; in hindsight, it worked out very well from that point. I entered on June 11 and have closed out two lots, but I think there is still room to go much higher. We WILL see!
  • #467
  • Jun 13, 2007 9:51am Jun 13, 2007 9:51am
Quoting BeachBum
As usual, this pair has provided some excitement. You could make a case for entering this BUY on June 8, but it would have taken a lot of courage to do so; in hindsight, it worked out very well from that point. I entered on June 11 and have closed out two lots, but I think there is still room to go much higher. We WILL see!

I agree. This pair is not for the faint of heart. And it maybe too late to enter by the time the new candle comes this afternoon. I am always un-sure of myself on this pair so I may just stay out. So far since late last week (when I started), Fozzy has been pretty good to me. Along with PA bars and The London open breakout, it has all been profitable. Thanks to everyone for keeping this thread alive
  • #468
  • Jun 13, 2007 12:21pm Jun 13, 2007 12:21pm
Entered on Sunday myself. Good pin of a support and with the trend.

Placed two lots. First closed and moved to BE for +130 pips. Second lot is now around the +140. I will now trail it and adjust my stop daily and see how far it gets.
Attached Image
  • #469
  • Jun 13, 2007 12:35pm Jun 13, 2007 12:35pm
This should be interesting
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_jpy.jpg Size: 47 KB
  • #470
  • Jun 14, 2007 7:36am Jun 14, 2007 7:36am
Hi all!

At Daily we see:
http://img501.imageshack.us/img501/1011/90908396fy5.gif

At H4:
http://img254.imageshack.us/img254/5492/58032034iv3.gif

How do you think: is it interesting to take? Or is this down-movement already finishing (at D)?

Thanks!
  • #471
  • Jun 14, 2007 7:52am Jun 14, 2007 7:52am
aktaurus...........

You evidently have your own special version of the Fozzy system, let's call it "The Aktaurus Method". I don't know what your rules are or how much backtesting of this method you have done. But it appears that you are not terribly concerned that the Daily charts had a Fozzy 'down' cross last week and since then the price has been in a downtrend. It appears you are looking at the impending 'down' cross of the 8 and 8 on the 4 hour chart and wonder if this is a good reason to sell the EUR/USD. Correct?

Without extensive backtesting and a FIRM set of rules, my opinion about this "potential" trade is no better than a coin-toss. I wonder if there are any other traders here who would advise you?

Quoting aktaurus
Hi all!

How do you think: is it interesting to take? Or is this down-movement already finishing (at D)?


Thanks!
  • #472
  • Jun 14, 2007 7:59am Jun 14, 2007 7:59am
Quoting BeachBum
it appears that you are not terribly concerned that the Daily charts had a Fozzy 'down' cross last week and since then the price has been in a downtrend. It appears you are looking at the impending 'down' cross of the 8 and 8 on the 4 hour chart and wonder if this is a good reason to sell the EUR/USD. Correct?
My question is : is it a good idea to enter now becouse I missed the last week entry? Or is it better to wait for new powerful signal on D?
  • #473
  • Jun 14, 2007 8:03am Jun 14, 2007 8:03am
And my answer is: what are your trading method rules and how much backtesting of this method have you done to validate it's worth?

Do you expect any of us here to advise you on a potential trade? If I said "Sell" and the trade loses, will you hold me at least partly responsible?

This thread is for sharing ideas, not giving advice on when or when not to trade!

Quoting aktaurus
My question is : is it a good idea to enter now becouse I missed the last week entry? Or is it better to wait for new powerful signal on D?
  • #474
  • Jun 14, 2007 8:06am Jun 14, 2007 8:06am
Quoting BeachBum
And my answer is: what are your trading method rules and how much backtesting of this method have you done to validate it's worth?

Do you expect any of us here to advise you on a potential trade? If I said "Sell" and the trade loses, will you hold me at least partly responsible?

This thread is for sharing ideas, not giving advice on when or when not to trade!
Ok, I think I undertood you.
  • #475
  • Jun 14, 2007 10:48am Jun 14, 2007 10:48am
.dam I hate heads..oh well go long......

Quoting BeachBum

Without extensive backtesting and a FIRM set of rules, my opinion about this "potential" trade is no better than a coin-toss. I wonder if there are any other traders here who would advise you?
Attached Image
It's All About Attitude ...
  • #476
  • Jun 14, 2007 12:25pm Jun 14, 2007 12:25pm
Current Trades:

nzd/usd +5
aud/usd +52
eur/jpy +30
gbp/jpy +11

Are any of you guys using Twiggs Volume/Momentum to confirm strength when Fozzy cross occurs?
  • #477
  • Jun 14, 2007 12:31pm Jun 14, 2007 12:31pm
My NZDUSD was stopped out for a 2-pip loss. I closed half of my AUDUSD position at +58 and the other half is still open (currently +50). I am also on EURJPY (+52), GBPJPY (+35), and CHFJPY (+14). My AUDJPY position from last night was stopped out at -42.

I have never heard of a Twiggs Volume/Momentum indicator.

Quoting ramrocket
Current Trades:

nzd/usd +5
aud/usd +52
eur/jpy +30
gbp/jpy +11

Are any of you guys using Twiggs Volume/Momentum to confirm strength when Fozzy cross occurs?
  • #478
  • Jun 14, 2007 1:40pm Jun 14, 2007 1:40pm
Quoting ramrocket
Are any of you guys using Twiggs Volume/Momentum to confirm strength when Fozzy cross occurs?
Is this something from a Star Wars movie, Mr. Rocket?
  • #479
  • Jun 14, 2007 2:21pm Jun 14, 2007 2:21pm
I just scanned the charts for the first time in a while and it looks like it's going to be a busy night of fozzy crosses on the horizon...
  • #480
  • Jun 14, 2007 2:39pm Jun 14, 2007 2:39pm
Quoting BeachBum
Is this something from a Star Wars movie, Mr. Rocket?
Certainly not from forex place where no man has gone before.
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