Powerful Fib Based System - by DAZfx | Page 13 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Spud's MTF FIB Breakout System 383 replies

Fib/trendlinebreak entry exit system 4 replies

LFB System - London Fib Breakout 45 replies

Target Yearly 30-40% - Fib-Ox System Journal! 17 replies

Resurrected Powerful Dazfx AMG wave 20 replies

Attachments: Powerful Fib Based System - by DAZfx
Exit Attachments

Powerful Fib Based System - by DAZfx

  • #241
  • Mar 28, 2008 10:08am Mar 28, 2008 10:08am
Quoting Pipsforall
I am watching that one as well, but so far the stochastics aren't cooperating.
Daz longs now void. Maybe the higher timeframe trend bias will push this down much further in the next week or so.
  • #242
  • Mar 28, 2008 10:11am Mar 28, 2008 10:11am
Quoting Pipsforall
I am watching that one as well, but so far the stochastics aren't cooperating.
no trade for me..seems to bearish..
  • #243
  • Mar 28, 2008 10:21am Mar 28, 2008 10:21am
EU?
Attached Image (click to enlarge)
Click to Enlarge Name: EU - (1) 28th Mar 08.GIF Size: 60 KB
  • #244
  • Mar 28, 2008 10:29am Mar 28, 2008 10:29am
Quoting ChowClown
EU?
I think the downside momentum looks too strong. Maybe its best to start Monday. I took an EJ long early based on this system, and it worked like a charm!! I love the low Risk High Reward trade setups this system gives. Simply awesome!!!
  • #245
  • Mar 28, 2008 10:41am Mar 28, 2008 10:41am
Quoting mazdaz
I think the downside momentum looks too strong. Maybe its best to start Monday. I took an EJ long early based on this system, and it worked like a charm!! I love the low Risk High Reward trade setups this system gives. Simply awesome!!!
A sweet trade...i saw it when i woke this am, which was a few hrs too late

Thankfully there are usually several setups to choose from across the pairs/crosses each day....so there's always a 'next time'.
  • #246
  • Mar 28, 2008 10:58am Mar 28, 2008 10:58am
Quoting ChowClown
Interesting analysis DS, i'm biased short from the daily/weekly chart at the moment and will be watching the GU hrly Daz setup closely now, as it approaches it's fib decision zone, for a potential short....it's got a fair bit to do yet though before signalling!
Hmmm...I think you're spot on ChowClown!Thanks for your reply.

Just one question...if GU were to close as it is at the moment, would this maribozu that is currently forming be the candle to trigger a short in your opinion?
Posted another chart going the other way this time.

Thanks again
DS
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd daily.gif Size: 26 KB
  • #247
  • Mar 28, 2008 11:01am Mar 28, 2008 11:01am
Good Evening to all,

Didn't have time to make any posts as I was on the move. Will try to answer some of the questions now.

Thanks
  • #248
  • Mar 28, 2008 11:09am Mar 28, 2008 11:09am
Quoting Doji Star
Hmmm...I think you're spot on ChowClown!Thanks for your reply.

Just one question...if GU were to close as it is at the moment, would this maribozu that is currently forming be the candle to trigger a short in your opinion?
Posted another chart going the other way this time.

Thanks again
DS
If i were trading DazFx on GU daily, i'd want to see if today's close crossed the stoch(8,3,3). If it does, i'd then wait for a better short entry around the SMA(5).

I don't trade the daily TF, so this is just an off the top of my head suggestion
  • #249
  • Mar 28, 2008 11:12am Mar 28, 2008 11:12am
Quoting Doji Star
First of all, thank you Daz for sharing this profitable system with all of us.Personally, you've provided an important trading weapon to add to any trader's arsenal.
I've always thought that Fibs had a lot to offer, but you've really cleared up a lot of issues w.r.t. Fibs for me (e.g. where to set anchor points,etc.)!

With regards to GU Daily chart,I'd appreciate your views on the following:
http://www.forexfactory.com/showpost...&postcount=195
Any corrections would be appreciated as well.
Hope you don't mind me posting this link, it just saves me from re-working the charts,etc.

Thanks again,
Wishing you many pips,
DS
Hi Doji Star (nice name btw),

About the GU Daily chart, if you have a bullish bias on GU you can target the FE 78.6 region (2.05 level).

But this is my take on the GU Daily.

Attached Image (click to enlarge)
Click to Enlarge Name: abcd16.gif Size: 20 KB


Next week will be very important.
  • #250
  • Mar 28, 2008 11:14am Mar 28, 2008 11:14am
Quoting mazdaz
I think the downside momentum looks too strong.
Yep, more price info and EU now off the buy list for now.
  • #251
  • Edited 11:57am Mar 28, 2008 11:31am | Edited 11:57am
Hi DAZFX and fellow mates..

i've been following this thread seriously since 2 hours ago..
thanks to DAZ for sharing this amazing system!

can somebody comment on my practice chart!!
did i do it correctly?

would appreciate any comments!

pid

http://pic50.picturetrail.com/VOL400.../310668858.jpg

http://pic50.picturetrail.com/VOL400.../310672550.jpg
{Promotion Removed}
  • #252
  • Mar 28, 2008 11:57am Mar 28, 2008 11:57am
Quoting popisdead
Hi DAZFX and fellow mates..

i've been following this thread seriously since 2 hours ago..
thanks to DAZ for sharing this amazing system!

can somebody comment on my practice chart!!
did i do it correctly?

would appreciate any comments!

pid
Yes you got most of it right. But the retracements should only be 61.8 or 78.6 . If you put SL on a 50 retrace setup, you might get hit more often (like on your chart, when the candle almost touched).
  • #253
  • Mar 28, 2008 12:02pm Mar 28, 2008 12:02pm
Quoting mazdaz
Yes you got most of it right. But the retracements should only be 61.8 or 78.6 . If you put SL on a 50 retrace setup, you might get hit more often (like on your chart, when the candle almost touched).
thanks mazdaz..

are u saying we shouldnt have taken the position or the SL should be placed at the 61.8%?

PiD
{Promotion Removed}
  • #254
  • Mar 28, 2008 12:04pm Mar 28, 2008 12:04pm
Looking at the GBP/USD, think it will make a 61.8 retracement and then go in for another short.
Yay! Pips for everyone!
  • #255
  • Mar 28, 2008 12:16pm Mar 28, 2008 12:16pm
Quoting Pipsforall
Looking at the GBP/USD, think it will make a 61.8 retracement and then go in for another short.
hi pipsforall!

im still learning on the chart..

is this your idea?

pid
http://pic50.picturetrail.com/VOL400.../310675617.jpg
{Promotion Removed}
  • #256
  • Mar 28, 2008 12:24pm Mar 28, 2008 12:24pm
Yes pop, that is my thinking.
Yay! Pips for everyone!
  • #257
  • Mar 28, 2008 12:38pm Mar 28, 2008 12:38pm
Quoting Pipsforall
Yes pop, that is my thinking.
definitely on my watchlist!!

thanks DAZ for the awesome strategy!

PiD
{Promotion Removed}
  • #258
  • Mar 28, 2008 12:41pm Mar 28, 2008 12:41pm
Quoting Pipsforall
Yes pop, that is my thinking.
still got room for LONG to play..about 50pips!

hehehe..just kidding

PiD
{Promotion Removed}
  • #259
  • Mar 28, 2008 12:42pm Mar 28, 2008 12:42pm
Quoting popisdead
thanks mazdaz..

are u saying we shouldnt have taken the position or the SL should be placed at the 61.8%?

PiD
I am saying, its best to follow a system as it comes. So, according to the rules: 61.8 and 78.6 retrace only.

Just MHO
  • #260
  • Mar 28, 2008 1:09pm Mar 28, 2008 1:09pm
Quoting popisdead
still got room for LONG to play..about 50pips!

hehehe..just kidding

PiD
Haha, its just on my radar, no guarantee it will retrace. But, that is the ABCD wave setup should it and the stochastic are in agreement with the trade.
Yay! Pips for everyone!
1 trader viewing now