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Powerful Fib Based System - by DAZfx

  • #281
  • Mar 30, 2008 11:40pm Mar 30, 2008 11:40pm
Quoting popisdead
price already comeback to ema 21,but stochastic is not showing SHORT position yet..price maybe going up until ema60 or fib61.8% the retracemnet alone worth atleast 50+pips..phewwww..lovely!

pid
http://pic50.picturetrail.com/VOL400.../310692690.jpg
as expected..price cameback to ema60..before continuing DT! all d best guys.. pid http://pic50.picturetrail.com/VOL400.../311083613.jpg
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  • #282
  • Mar 31, 2008 12:18am Mar 31, 2008 12:18am
Great thread and great stratedgy..
  • #283
  • Mar 31, 2008 1:26am Mar 31, 2008 1:26am
pop,
what ema that u used....?
i use 5,9 20 and 50 (all ema)

Dazfx,
certain pair have certain behavior...
just want to know your advice,
can you explain....for each pair (from your observation), at what level are they bouncing back....


from my observation,and trying of about 1 month fibo
for GY,
if my pull of swing high and swing low is correct,
price is definately bounce back at level 161.8, 261.8 and 423.6
at that point, the stoch is at extreme high or extreme low.
i always put my sell limit or buy limit there (but it depends on stoch n rsi)
- but its on demo + some live....i just trying to familiarise it with me..

others that i look into is pivot level
  • #284
  • Mar 31, 2008 1:44am Mar 31, 2008 1:44am
Quoting popisdead
as expected..price cameback to ema60..before continuing DT! all d best guys.. pid http://pic50.picturetrail.com/VOL400.../311083613.jpg
great system DAZ,
TP1 and TP2 achieved!

TP3 is on the way..

PID
http://pic50.picturetrail.com/VOL400.../311095407.jpg
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  • #285
  • Mar 31, 2008 1:45am Mar 31, 2008 1:45am
Good Morning,

Cable headed towards 1.9980, then tanked down. 61.8 retrace.
  • #286
  • Mar 31, 2008 1:52am Mar 31, 2008 1:52am
Quoting Dazfx
Good Morning,

Cable headed towards 1.9980, then tanked down. 61.8 retrace.


Daz,

Good morning too (its 2am here)
Thank you for sharing such a system.
Why do people only post a nice trending period chart?
  • #287
  • Mar 31, 2008 1:52am Mar 31, 2008 1:52am
GU

on the longer term(Daily)
still got more room to go down!

plot ema601 and u will see how price found support there on 20feb and 22Jan!

FYI,
on H4 price already break ema601!

just my idea..

PiD
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  • #288
  • Mar 31, 2008 2:01am Mar 31, 2008 2:01am
Quoting Dazfx
Good Morning,

Cable headed towards 1.9980, then tanked down. 61.8 retrace.
morning DAZ,

how was your weekend?noticed ur on the road?

any other pairs on your radar?

pid
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  • #289
  • Mar 31, 2008 2:01am Mar 31, 2008 2:01am
GJ is getting to 61.8 retracement, although stoch is pointing down - bad signal.
Why do people only post a nice trending period chart?
  • #290
  • Mar 31, 2008 2:20am Mar 31, 2008 2:20am
Quoting yuhu
GJ is getting to 61.8 retracement, although stoch is pointing down - bad signal.
GJ has already done its retrace. Your Entry should have been the 2:00am GMT+1 candle.

If you miss a move, its best to wait for the next setup, because the risk/reward gets worser as the price goes in your direction.
  • #291
  • Mar 31, 2008 2:22am Mar 31, 2008 2:22am
Yeah, you are right.

Thanks.

BTW, do you offer some email signal service with this? Would you consider?

Quoting Dazfx
GJ has already done its retrace. Your Entry should have been the 2:00am GMT+1 candle.

If you miss a move, its best to wait for the next setup, because the risk/reward gets worser as the price goes in your direction.
Why do people only post a nice trending period chart?
  • #292
  • Mar 31, 2008 2:27am Mar 31, 2008 2:27am
Quoting suspect
Thats my Setup for USD/JPY today. Suggestions are welcome!
Sorry mate, but I can't see the chart.

I see the wave is too large, if it was me, I would use the 4Hr timeframe for an entry. An ideal setup should consist 4-10 candles. The lower, the better.
  • #293
  • Mar 31, 2008 2:30am Mar 31, 2008 2:30am
Quoting popisdead
morning DAZ,

how was your weekend?noticed ur on the road?

any other pairs on your radar?

pid
Hi PID,

My weekend was great, how about yours? And I am still in Central London, won't be home till Wednesday.

I am in USDCHF and GBPUSD trades, but they are both about to hit my last target.
  • #294
  • Mar 31, 2008 2:43am Mar 31, 2008 2:43am
Quoting Dazfx
Sorry mate, but I can't see the chart.

I see the wave is too large, if it was me, I would use the 4Hr timeframe for an entry. An ideal setup should consist 4-10 candles. The lower, the better.
daz, are u suggesting using the h4 for super active pairs like GJ and GC? pid
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  • #295
  • Mar 31, 2008 2:48am Mar 31, 2008 2:48am
Quoting popisdead
daz, are u suggesting using the h4 for super active pairs like GJ and GC? pid
GJ / GC?
  • #296
  • Mar 31, 2008 2:52am Mar 31, 2008 2:52am
Quoting suspect
Which wave? Can you see the chart now?
I thought you were referring to USDJPY. But you have on display the USDCHF chart.

This is how I drew the fibs on the USDCHF pair.

Attached Image (click to enlarge)
Click to Enlarge Name: abcd17.gif Size: 22 KB


If you are just starting out, I wouldn't recommend this trade, because the Stoch hook occurred earlier.
  • #297
  • Mar 31, 2008 2:54am Mar 31, 2008 2:54am
Quoting suspect
GJ / GC?
sorry mate..

GJ=gbpjpy
GC-gbpchf

pid
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  • #298
  • Mar 31, 2008 2:57am Mar 31, 2008 2:57am
Quoting popisdead
sorry mate..

GJ=gbpjpy
GC-gbpchf

pid
Thanks Mate!
  • #299
  • Mar 31, 2008 2:57am Mar 31, 2008 2:57am
Quoting popisdead
daz, are u suggesting using the h4 for super active pairs like GJ and GC? pid
No, I am suggesting only to move to a larger timeframe when the waves are too big. (ie, an AB wave with 20 candles on the hourly, will only be a wave with 5 candles on the 4Hr chart, and hence, you look for the entry signal on the 4hr.)

This is because, the waves are more accurate when they are small. Also remember, the length of time it takes AB to form is roughly how long it takes CD to form.


EDIT: The USDCHF is fully closed, just waiting for Target 3 on Cable. I think I will call it a day after this. Didn't expect to reach my daily target already. I will still look for setups and report here.
  • #300
  • Mar 31, 2008 3:05am Mar 31, 2008 3:05am
Quoting Dazfx
No, I am suggesting only to move to a larger timeframe when the waves are too big. (ie, an AB wave with 20 candles on the hourly, will only be a wave with 5 candles on the 4Hr chart, and hence, you look for the entry signal on the 4hr.)

This is because, the waves are more accurate when they are small. Also remember, the length of time it takes AB to form is roughly how long it takes CD to form.


EDIT: The USDCHF is fully closed, just waiting for Target 3 on Cable. I think I will call it a day after this. Didn't expect to reach my daily target already. I will still look for setups and report here.
ahhh..got it!

thanks daz!

pid
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