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Powerful Fib Based System - by DAZfx

  • #161
  • Mar 27, 2008 4:56am Mar 27, 2008 4:56am
http://forexfactory.com/showthread.php?t=69499


  • #162
  • Mar 27, 2008 5:07am Mar 27, 2008 5:07am
Quoting dagoods
http://forexfactory.com/showthread.php?t=69499


horses for courses.
  • #163
  • Mar 27, 2008 5:08am Mar 27, 2008 5:08am
Quoting dagoods
http://forexfactory.com/showthread.php?t=69499


Am I missing something?
  • #164
  • Mar 27, 2008 5:11am Mar 27, 2008 5:11am
Do I see it correctly?
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 24 KB
  • #165
  • Edited 5:51am Mar 27, 2008 5:12am | Edited 5:51am
our hold up on UJ is mainly EJ and AJ from what i can see. S&P is also making us wait but has just put in a reversal. Euro speakers are causing players to buy up EJ which is propping up UJ.

Edit: EJ is really moving the market today. Notice how EU and UJ move in the same direction. This UJ short is going to be a slow grind trade until S&P gives up and sells off to its channel lows.

Edit: S&P broke highs. it seems to be moving up off a 4hr trendline but looks overdone and IMO should move down soon.
It really is that easy.
  • #166
  • Mar 27, 2008 5:18am Mar 27, 2008 5:18am
...just taken the long on EUR/GBP. Wanted to work this pair for a while and until now haven't been comfortable with the tools in the bag. Thanks again Daz.
  • #167
  • Mar 27, 2008 6:04am Mar 27, 2008 6:04am
Hawkish comments from Trichet again today. It seems as though he doesn't care how strong the Euro gets. He says he wants a strong USD but that is only because he is getting increased inflation. He wants to have his cake and eat it too. Strong Euro and Weak USD. Major banks are buying USD's right now as a value price and for speculation.
It really is that easy.
  • #168
  • Mar 27, 2008 6:29am Mar 27, 2008 6:29am
Hey Daz, what do you think about this setup on Usd Jpy? To me it looks pretty good. Retracement to 61%, reversal candle, stoch bearish cross, pair is under the 200 sma - blue and under daily pivot -green.

I entered short at 99.30 with stop at 99.90 above the retracement.
Attached Image
We leave no soldier behind.
  • #169
  • Mar 27, 2008 6:29am Mar 27, 2008 6:29am
Daz,
I did not mean to hijack your thread.
S&P is coming down (sigh of relief)

Edit: 15 min TD lines updated. always move the Right edge to the newer wick to be safe on entries. Only enter on a 15 minute close breach. As this channel develops the prospects of a short breach increase in value. If we see a break South it will be safer now that we have created a more robust channel.
Attached Image (click to enlarge)
Click to Enlarge Name: 20080327063304.png Size: 67 KB
It really is that easy.
  • #170
  • Mar 27, 2008 6:36am Mar 27, 2008 6:36am
Quoting ChowClown
...just taken the long on EUR/GBP. Wanted to work this pair for a while and until now haven't been comfortable with the tools in the bag. Thanks again Daz.
CBI report hurting this trade - i need to sharpen up
  • #171
  • Mar 27, 2008 6:48am Mar 27, 2008 6:48am
Quoting gagiul
Hey Daz, what do you think about this setup on Usd Jpy? To me it looks pretty good. Retracement to 61%, reversal candle, stoch bearish cross, pair is under the 200 sma - blue and under daily pivot -green.

I entered short at 99.30 with stop at 99.90 above the retracement.
Remember, after confirmation candle, you enter when price reaches the 5SMA or above. So based on that, your entry should have been around 99.45-99.50. This way, you will have a tighter stop.
  • #172
  • Mar 27, 2008 6:56am Mar 27, 2008 6:56am
Quoting The Fxorce
Daz,
I did not mean to hijack your thread.
S&P is coming down (sigh of relief)

Edit: 15 min TD lines updated. always move the Right edge to the newer wick to be safe on entries. Only enter on a 15 minute close breach. As this channel develops the prospects of a short breach increase in value. If we see a break South it will be safer now that we have created a more robust channel.
No problem mate. Your posts will only add value to this thread.
  • #173
  • Mar 27, 2008 7:00am Mar 27, 2008 7:00am
Daz,
your entries are excellent. i've been looking for a way to get in before my 15min td line breaks. today i was able to confirm with td break and still enter S UJ at a reasonable price.
i'm worried about this trade now due to Speaker in 15 minutes at 8:15 EST. Then GDP/employment claims at 8:30EST.
It really is that easy.
  • #174
  • Mar 27, 2008 7:14am Mar 27, 2008 7:14am
Quoting The Fxorce
Daz,
your entries are excellent. i've been looking for a way to get in before my 15min td line breaks. today i was able to confirm with td break and still enter S UJ at a reasonable price.
i'm worried about this trade now due to Speaker in 15 minutes at 8:15 EST. Then GDP/employment claims at 8:30EST.
I am worried about the news as well. I was planning to move my stop to b/e 15mins before news, but didn't expect the last candle to close above the daily pivot.

Will wait a few mins and exit taking a few pips.
  • #175
  • Mar 27, 2008 7:34am Mar 27, 2008 7:34am
Quoting Dazfx
I am worried about the news as well. I was planning to move my stop to b/e 15mins before news, but didn't expect the last candle to close above the daily pivot.

Will wait a few mins and exit taking a few pips.
I'd gone in at 99.49.
I managed to escape a beating 5 mins before news and bank a pip.
  • #176
  • Mar 27, 2008 7:35am Mar 27, 2008 7:35am
Quoting Dazfx
I am worried about the news as well. I was planning to move my stop to b/e 15mins before news, but didn't expect the last candle to close above the daily pivot.

Will wait a few mins and exit taking a few pips.
Very good reading, thanks. Rather 15 pips in pocket than being stopped Btw will we consider re-entry at 78.6 if it stops there ?
  • #177
  • Edited 8:05am Mar 27, 2008 7:35am | Edited 8:05am
Quoting Dazfx
Will wait a few mins and exit taking a few pips.
Good plan. I've just taken hits on both UJ and EG.

Edit: UJ close above 78.6, so now off shorts radar.
  • #178
  • Mar 27, 2008 8:08am Mar 27, 2008 8:08am
Quoting ChowClown
Good plan. I've just taken hits on both UJ and EG.

Edit: UJ close above 78.6, so now off shorts radar.
It's only 3 pips ..
  • #179
  • Mar 27, 2008 8:14am Mar 27, 2008 8:14am
Quoting mades
It's only 3 pips ..
...closed 12 pips higher on mine, plus i may have pulled the fib differently.

UJ 78.6 level @ 99.86 on my chart. 12-1pm candle closing at 99.98.
  • #180
  • Mar 27, 2008 8:21am Mar 27, 2008 8:21am
EUR/GBP is looking a possible setup.
Yay! Pips for everyone!
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