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FOZZY Method CROSSES

  • #681
  • Sep 18, 2007 4:26pm Sep 18, 2007 4:26pm
Worth keeping an eye on the 4H for a sell?
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Those that can, do, those that can't, teach.
  • #682
  • Sep 18, 2007 4:35pm Sep 18, 2007 4:35pm
Quoting pf1966
Worth keeping an eye on the 4H for a sell?
definitely!
  • #683
  • Sep 20, 2007 9:03am Sep 20, 2007 9:03am
Quoting pf1966
Worth keeping an eye on the 4H for a sell?
excellent call...............great trade so far!
  • #684
  • Sep 20, 2007 10:41am Sep 20, 2007 10:41am
Quoting BeachBum
excellent call...............great trade so far!
Wish all trades were this easy to spot.
Problem is so many time frames, so many pairs.
Still nice when it all lines up though.
Fozzie pointed the way down.
In at 115.90.
Closed half at 115.00.
Probably see 114.00 61.8R and Sept 10 high.
Those that can, do, those that can't, teach.
  • #685
  • Sep 20, 2007 11:11am Sep 20, 2007 11:11am
Quoting pf1966
Wish all trades were this easy to spot.
Problem is so many time frames, so many pairs.
Still nice when it all lines up though.
Fozzie pointed the way down.
In at 115.90.
Closed half at 115.00.
Probably see 114.00 61.8R and Sept 10 high.
My target of 114.10 was just reached! Thanks again for the FIB lesson.........
  • #686
  • Sep 21, 2007 3:50am Sep 21, 2007 3:50am
Quoting BeachBum
My target of 114.10 was just reached! Thanks again for the FIB lesson.........
Glad u liked it and got a good profit.
Hopefully I can find a few more to post.
Whether they all go as well as that one remains to be seen.
More and more I find myself looking for fozzie sells on the 4H. Thats not to say I don't watch the daily charts, its just easier to find turning points off larger time frames, like the last USD/JPY weekly and then try to get in on a shorter TF. More profit, smaller stops.
And from my style of trading I find it easier to analise fibs on a 4H.
Will be studying charts hard at weekend.
Those that can, do, those that can't, teach.
  • #687
  • Sep 21, 2007 4:48am Sep 21, 2007 4:48am
Hey all,

Just wanted to let anyone interested in smaller frames...day trades or scalping. This method works well on the 15 also. The one thing that we tweaked the past week or so, take trades in direction of the short term trend. Found that trying to catch reversals ended up being non productive, and took our focus off other pairs. EXCEPT reversals off of the RSI 15 or < and 85 or >.

Trades from last 2 days for review....REMEMBER this is a 15 minute Fozzy....notice a few added indicators to filter out short term noise.

Still "working" on those longer time frames BB!....
Fxj
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy15m.gif Size: 25 KB
Proper Prior Planning Prevents Piss Poor Performance
  • #688
  • Sep 21, 2007 7:12am Sep 21, 2007 7:12am
Quoting pf1966
Glad u liked it and got a good profit.
Hopefully I can find a few more to post.
Whether they all go as well as that one remains to be seen.
More and more I find myself looking for fozzie sells on the 4H. Thats not to say I don't watch the daily charts, its just easier to find turning points off larger time frames, like the last USD/JPY weekly and then try to get in on a shorter TF. More profit, smaller stops.
And from my style of trading I find it easier to analise fibs on a 4H.
Will be studying charts hard at weekend.
Lately I find myself looking at the 4 hour chart more and more after seeing possible trade setups on the Daily; as with this recent sell of the USD/JPY. And I am paying more attention to Price Action as I become more familiar with this very powerful tool. Thanks for your contributions!
  • #689
  • Sep 21, 2007 7:17am Sep 21, 2007 7:17am
Quoting FxJarhead
Hey all,

Just wanted to let anyone interested in smaller frames...day trades or scalping. This method works well on the 15 also. The one thing that we tweaked the past week or so, take trades in direction of the short term trend. Found that trying to catch reversals ended up being non productive, and took our focus off other pairs. EXCEPT reversals off of the RSI 15 or < and 85 or >.

Trades from last 2 days for review....REMEMBER this is a 15 minute Fozzy....notice a few added indicators to filter out short term noise.

Still "working" on those longer time frames BB!....
Fxj
Always enjoy your observations. Which time frame do you use to establish "The Trend" before looking at the 15 minute chart? Also, not sure why you have the CCI on your chart; it looks like a smoothed out version of the RSI (8).
  • #690
  • Sep 21, 2007 1:11pm Sep 21, 2007 1:11pm
Quoting BeachBum
Always enjoy your observations. Which time frame do you use to establish "The Trend" before looking at the 15 minute chart? Also, not sure why you have the CCI on your chart; it looks like a smoothed out version of the RSI (8).

Hey BB...

I look at the 4h and 1h....Posting a 4 hour chart....it is the same as in the post above, just blown up to 4 hour. I left the text, arrows, X's and trade numbers as they appear on the 15m chart above, just got rid of the Vertical 15 yellow lines.

The CCI...yep, it is very close.....the thing is, in a smaller time frame....the cci and 8/8 cross DONOT always happen on the same bar close....it is a double confirmation.....why you may see on some of my chart postings that the 8/8 triggered yet a postion was not taken until another bar over. Also, seems best ( in lower time frames ) when the cci is rising from/thru -100 and falling from/thru +100 along with an 8/8 cross.
Now some trades are taken on an 8/8 cross and cci - in between - This is DISCREATIONARY....and trades are taken at the S/R ema's....especially in a nicely moving trend.
I am a more visual trader...also the reason for the RSI 15/85 limits....for visualization reference and knowing the "market" is in need of a correctional bounce or reversal. Found that 70/30 or even 80/20 is far too soon....to go "against" the trend.

Damn, I hope I didn't confuse anybody....I'd make a piss poor teacher!
One thing for all too remember....I am a discreationary trader, and I am also following IFR reports of market objectives, stop areas, Option levels, news times, ( I don't trade news, just aware of releases )etc....

Overall....what I really wanted to convey was how well this method works in the short term.....even 5min TRUE scalps ( 5 pips+/- ) in a slow moving sideways market, ranging 20 pips+/-( ie..5pm to 1am edt )......That is another conversation all together!! DON'T TRY this with a 4pip spread on usd/jpy!!!!! I have 1.6 - 1.8....and eur/usd now around 0.9 - 1.2.

OK, rambled enough!!
Fxj
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy4h.gif Size: 14 KB
Proper Prior Planning Prevents Piss Poor Performance
  • #691
  • Sep 21, 2007 3:43pm Sep 21, 2007 3:43pm
Nice explanation, thanks!
  • #692
  • Edited 7:34pm Sep 21, 2007 7:28pm | Edited 7:34pm
This is the 1 hr chart of the 15 min posted a few posts back. Posting them now side by side. Actually, on top of each other.

1. Notice the 8/8 cross occuring after a deep penetration of 1h RSI<15. The 15m and 1h coincide, and the 4 hr had hit the RSI 15 during it's time frame.

2.Notice on 1h that the 8/8 cross did not occur with the CCI...yet in the 15m it did. Coming off that pin, <15 RSI, 15m cross....this is where discreation comes in, on the smaller frames.

3. On the 4h chart, the 8/8 cross and CCI >-100 did not happen on the same bar close, yet the 1h had occured. I seperated where the 1hr 8/8 cross took place ( red )

Other than adding the red verticle line and adding (15m ) to the text of the pin ( to denote location )....No retouch of original entries,exits...etc....one can see how nicely all fall onto several time frame charts.

Hoping the pictures speak louder than words
Fxj

P.S. If one were to look at charts at end of trading Friday...far right....1h has crossed...CCI confirms...( thinking short?? for Sun/Mon ) Keep your safties ON for now.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy1h.gif Size: 19 KB
Click to Enlarge Name: usdjpy15m.gif Size: 25 KB
Proper Prior Planning Prevents Piss Poor Performance
  • #693
  • Sep 23, 2007 9:02pm Sep 23, 2007 9:02pm
UPDATE to post #692

A short scalp presented itself this afternoon EDT. 15 min chart.

Good for +20 pips
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy15m.gif Size: 12 KB
Proper Prior Planning Prevents Piss Poor Performance
  • #694
  • Sep 24, 2007 7:51am Sep 24, 2007 7:51am
Trading in a thin ranging market...using 5 minute. Sept 24,2007
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Click to Enlarge Name: eurusd5scalp.gif Size: 30 KB
Proper Prior Planning Prevents Piss Poor Performance
  • #695
  • Sep 24, 2007 11:27pm Sep 24, 2007 11:27pm
Hey BB !

Been working on the longer terms....4 hour!

Just an update....this pair scares the hell outta me, and I missed the Cable move.....1226am EDT
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy4h.gif Size: 16 KB
Proper Prior Planning Prevents Piss Poor Performance
  • #696
  • Sep 25, 2007 8:22am Sep 25, 2007 8:22am
Quoting FxJarhead
Hey BB !

Been working on the longer terms....4 hour!

Just an update....this pair scares the hell outta me, and I missed the Cable move.....1226am EDT
This one is called "The Dragon" for good reason, but I like it. I do not trade directly off the Daily; I will wait for the Daily to "setup" and then drop to the 4 hour for agreement and a signal, but you will need larger stops to avoid hourly whipsaw activity.............the profits are well worth the risk. Good MM is always a requirement!

PS...........I traded the GBP/USD using the 4 hour PB.
  • #697
  • Sep 25, 2007 11:01am Sep 25, 2007 11:01am
Hey BB...

I had read and saw the chart for the Cable Short.....Nice

Posting an update.....as of 1155am EDT 9/25/07

Moved trailing stop to 231.20 / Locking +165 pips
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy4h.gif Size: 13 KB
Proper Prior Planning Prevents Piss Poor Performance
  • #698
  • Sep 26, 2007 5:28am Sep 26, 2007 5:28am
Bit of artistic licence required. Nice confluence though.
Attached Image
Those that can, do, those that can't, teach.
  • #699
  • Sep 26, 2007 8:11am Sep 26, 2007 8:11am
Quoting pf1966
Bit of artistic licence required. Nice confluence though.
Great post.............did you take the short and then the long?
  • #700
  • Sep 26, 2007 12:40pm Sep 26, 2007 12:40pm
Here is a pair I don't see chatted about or traded much.....yet is one I really like.

It is trading in a down trend channel, since about June...though channel not identified till mid July.....Bottom has been good support creating bounces for some very nice pips. One will notice, the Fozzy cross not great at all, yet minorly positive, cci positive....yet it was the channel bottom I traded off of with the "weak" support of my indicators. Plus I did get a bounce off of my rsi <15. Just another tool.

Post for review.....Fxj
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfchannels.gif Size: 16 KB
Proper Prior Planning Prevents Piss Poor Performance
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