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The 4 Hour Fozzy Method

  • #161
  • Jul 30, 2007 3:32pm Jul 30, 2007 3:32pm
Quoting Primate
...some of us have seen this coming and have been in for a week already
In a long for a week with a Fozzy signal?
  • #162
  • Jul 30, 2007 7:30pm Jul 30, 2007 7:30pm
Quoting nvwine
In a long for a week with a Fozzy signal?
I hope he means that he has been waiting a week for a trend reversal and a "long" Fozzy signal.................
  • #163
  • Jul 31, 2007 3:14pm Jul 31, 2007 3:14pm
..well no, I caught the tip of an upturn as RSI came up to 50:50 on the 4hr chart.
Also it coincided with the 2-weekly down-tick, and the rate that was down about the same as the last two times.
Then I went to bed, or somewhere, and was down 100 pips by the time I came back.
I made some hedging on the way down, but I need a bundle more.

At the moment I'm wondering if this is going to be as good/bad as last March.
Minesweeper target: 284
  • #164
  • Jul 31, 2007 6:56pm Jul 31, 2007 6:56pm
No explanation needed.
Attached Image
Those that can, do, those that can't, teach.
  • #165
  • Edited 12:39am Aug 1, 2007 12:38am | Edited 12:39am
And looking at the candlesticks of this chart, the long shadows on the last 2 bearish candles indicates that the bears may be running out of steam. Cover your shorts people.
  • #166
  • Aug 1, 2007 6:00am Aug 1, 2007 6:00am
If we keep the 4 hr on the 4hr thread and daily here, it makes it an easy to use reference.

Please - follow the organizaiton of the threads?
I'm pretty much done with all this ...
  • #167
  • Aug 1, 2007 6:06am Aug 1, 2007 6:06am
Good point..............I moved the recent 4 hour posts here.

Quoting StoragePro
If we keep the 4 hr on the 4hr thread and daily here, it makes it an easy to use reference.

Please - follow the organizaiton of the threads?
  • #168
  • Aug 1, 2007 6:11am Aug 1, 2007 6:11am
Quoting pf1966
No explanation needed.
pf1966..................the fib drawing tool you are using does not appear to be the standard MT version: What are you using?
  • #169
  • Aug 1, 2007 7:43am Aug 1, 2007 7:43am
Hi BB,

Standard tool, just used how it should be done. This is my forte . Plot a fib exp on a chart-swing high to swing low, then drag the 3rd leg to the lower swing high. Reverse for up trend ( Swing low to swing high, then 3rd leg to higher swing low. Gives a facinating insight into where price MIGHT end up. Watch for confluences of fib ex with fib ret from previous moves. Keep an eye on EUR/USD 1.3705ish and 1.3755 as of current time 15.30GMT. Hope this helps.
Those that can, do, those that can't, teach.
  • #170
  • Aug 4, 2007 12:38pm Aug 4, 2007 12:38pm
I thought I would pose this here just in case there is something else to take onboard. When I look at the 4hr chart the Fozzy signal seems to be just as valid on a shorter term basis as it is on the daily chart.

Previously (sometimes anyway) I have been watching the 4hr chart to give a heads-up on likely moves on the daily chart. I found that RSI crossing the 50 level is a good leading indicator for the daily signal.

Does that differ from other opinions?

( I think this post belongs in the 4hr thread, if not please move it to the daily thread).
Minesweeper target: 284
  • #171
  • Aug 4, 2007 12:48pm Aug 4, 2007 12:48pm
Quoting Primate
I thought I would pose this here just in case there is something else to take onboard. When I look at the 4hr chart the Fozzy signal seems to be just as valid on a shorter term basis as it is on the daily chart.

Previously (sometimes anyway) I have been watching the 4hr chart to give a heads-up on likely moves on the daily chart. I found that RSI crossing the 50 level is a good leading indicator for the daily signal.

Does that differ from other opinions?

( I think this post belongs in the 4hr thread, if not please move it to the daily thread).
This method was discussed near the beginning of this thread; I still carefully use the 4 hour for an early Daily trade signal and will occasionally trade on that chart alone, but it takes practice.
  • #172
  • Aug 24, 2007 12:25pm Aug 24, 2007 12:25pm
Another great thread!!


  • #173
  • Sep 27, 2007 12:31am Sep 27, 2007 12:31am
G'Day all,

just though I'd post this trade I took today using PA and Fozzy. I have found the combo of of every thing I have absorbed from J16 and Fozzy threads really consistent.

This trade was a correction back to the week trendline as well as the 236 and 618. Really strong confluence in my books and what I look for to trade.

The Foz had crossed and then we had the TBL set up. I 'm happy with leaving an order 5 pips under the TBL.

I can't thank BB, SL and MBQB11 enough for you time and efforts in all you threads and posts. I now have a rule based system that has really turned my trading around. All the emotion has gone and I really have you guys to thank for the consistancy.

The fishings been good.............

Regards

RBS
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  • #174
  • Sep 27, 2007 1:44am Sep 27, 2007 1:44am
<<<I now have a rule based system that has really turned my trading around.>>>

@ratherbesailing

Are you going to share the (additional to fozzy) rule set?

Thanks

Forex37
  • #175
  • Sep 27, 2007 4:54am Sep 27, 2007 4:54am
Quoting ratherbesailing
G'Day all,

just though I'd post this trade I took today using PA and Fozzy. I have found the combo of of every thing I have absorbed from J16 and Fozzy threads really consistent.

This trade was a correction back to the week trendline as well as the 236 and 618. Really strong confluence in my books and what I look for to trade.

The Foz had crossed and then we had the TBL set up. I 'm happy with leaving an order 5 pips under the TBL.

I can't thank BB, SL and MBQB11 enough for you time and efforts in all you threads and posts. I now have a rule based system that has really turned my trading around. All the emotion has gone and I really have you guys to thank for the consistancy.

The fishings been good.............

Regards

RBS
Nice to know we have traders who are successful with this method; I am adding this post to the current discussion in the new Trading Room, it deserves attention!
  • #176
  • Sep 28, 2007 1:24am Sep 28, 2007 1:24am
G'Day Mate,

The rules I have created for myself are from as I posted previously, studing the J16 thread, the Fozzy thread and some basic Elliot wave studies. Also read and loved Bollingers books. So it is a jumble that (and i say this with no disrespect) that without knowing what you or anyone else reading has studied , would probably make little sense, or at best mabey a bit confusing.

I'll post another trade I took today and you will see how I arrived at the desicision to trade:
1: Price at confluence ie range .618+last swing down .786+week TL
2: PA Small Pin(not good enough to trade on it's own due to small wick)followed by BEOB
3: Fozzy signal
4: My trade management is first tranch 1:1 and now 6.00 bar pin agaist me so when i'm done with this my stop will go 5 pips above the pin

So I just have to have a combo of ticks in the box.

Any comments welcome especially from SL,BB,J16 and MBQB11

Regards

RBS
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  • #177
  • Sep 28, 2007 2:26am Sep 28, 2007 2:26am
Sorry I forgot a very important piece, if i could not get 1:1 before the 240 20 ma no trade as this was an aggresive entry or what I would call counter trend. One of the J16 pieces, Trade STH from Resistance and NTH from support.

Also if you are into divergence, there is a double divergence on the Fozzy from the previous high as well as the little kink.

regards

RBS
  • #178
  • Sep 28, 2007 5:30am Sep 28, 2007 5:30am
ratherbesailing............

Two great posts, thanks. I will need to study a few things this weekend to better understand what you are doing and why. Homework......
  • #179
  • Dec 8, 2007 10:17pm Dec 8, 2007 10:17pm
Quoting BeachBum
cool.......................I am only using the 4 hour chart to 'get a jump' on trades that are developing on the Daily. After entry, it's all Daily chart trading until close. There may be other ways to use the 4 hour during the the trade, but I do not at this time have any definite information about that. Cheers!
Hi BB, do you use the same set up from the daily chart on the 4 hr chart, do you change something, or add some other indicator not used ont he daily chart? sorry about my english. Good work, Thank you!

Alejandro
  • #180
  • Dec 9, 2007 6:18am Dec 9, 2007 6:18am
Quoting atisnado
Hi BB, do you use the same set up from the daily chart on the 4 hr chart, do you change something, or add some other indicator not used ont he daily chart? sorry about my english. Good work, Thank you!

Alejandro
Same setup on the 4 hour chart.
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