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Powerful Fib Based System - by DAZfx

  • #381
  • Mar 31, 2008 1:35pm Mar 31, 2008 1:35pm
Hi DAZfx

I like your beautiful strategie.
What is the correct setting for the Stochastic Oscillator (8,3,3)?

"close/close" or "high/low" ?
"simple" or "exponential" ?

 Thanks,
Joe82
  • #382
  • Mar 31, 2008 2:04pm Mar 31, 2008 2:04pm
EUR/JPY looking good, also entered a short on the USD/JPY
Yay! Pips for everyone!
  • #383
  • Mar 31, 2008 3:11pm Mar 31, 2008 3:11pm
Usd/chf looks realy good at the 1H, but stoch needs to cross
  • #384
  • Mar 31, 2008 3:22pm Mar 31, 2008 3:22pm
I know how to change my fib settings(parameters), I am, just not sure about correct numbers to put in for LEVELS.
Can someone help me out ?
  • #385
  • Mar 31, 2008 3:24pm Mar 31, 2008 3:24pm
Quote
Usd/chf looks realy good at the 1H, but stoch needs to cross

saw it too but back-out due to the same reason u gave, though went down but good to stick by rules, there will alwayz be several opportunities next time.
  • #386
  • Mar 31, 2008 3:27pm Mar 31, 2008 3:27pm
Quote
I know how to change my fib settings(parameters), I am, just not sure about correct numbers to put in for LEVELS.
Can someone help me out ?
FE 0.618 as target 1
FE 0.786 AS TARGET 2
FE 1.00 AS TARGET 3
  • #387
  • Mar 31, 2008 3:39pm Mar 31, 2008 3:39pm
Quoting Naijafx
FE 0.618 as target 1
FE 0.786 AS TARGET 2
FE 1.00 AS TARGET 3
Bro, it can sometimes be FE50, 61.8 and 78.6!! I think, if you have made a decent profit (compared to how much you risked), then you take out one position at FE50.
  • #388
  • Mar 31, 2008 3:59pm Mar 31, 2008 3:59pm
1. Are my fibs positioned correctly ?
2. It would probably be incorrect to enter this one, since stoch was crosing in the overbought area. Am I correct?
3. If you would enter, can you mark an entry point for me?

Thank you for helping!
Attached Image
  • #389
  • Mar 31, 2008 6:43pm Mar 31, 2008 6:43pm
he bee, I m Learn with daz too, daz system said before :
1. add 5 SMA in ur chart ,and price should touch 5 sma or above/below 5 sma.
2. stoch must cross n hook down.
3. look 4 bearish candle reversal to confirm
4. if SL is to wide ,wait another setup.(better risk/reward 1:1.5)
5. always go with daily trand.
hope this help
Attached Image (click to enlarge)
Click to Enlarge Name: daz sample live 8.gif Size: 16 KB
  • #390
  • Mar 31, 2008 7:22pm Mar 31, 2008 7:22pm
Quote
he bee, I m Learn with daz too, daz system said before :
1. add 5 SMA in ur chart ,and price should touch 5 sma or above/below 5 sma.
2. stoch must cross n hook down.
3. look 4 bearish candle reversal to confirm
4. if SL is to wide ,wait another setup.(better risk/reward 1:1.5)
5. always go with daily trand.
hope this help

Attached Thumbnailshttp://www.forexfactory.com/attachme...1&d=1207006615

I saw that as well; hit its second target for 45pips here.

I think it will do us good to always alert the house when there is any possible trade setup.

u got this setup right IMHO

keep it up bro
  • #391
  • Mar 31, 2008 7:32pm Mar 31, 2008 7:32pm
Is this how the cable setup looked or did I do it wrong?
Attached Image
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #392
  • Mar 31, 2008 7:52pm Mar 31, 2008 7:52pm
this is what i did and took a ride down.
Quoting Thexder
Is this how the cable setup looked or did I do it wrong?
  • #393
  • Edited 3:58am Apr 1, 2008 3:18am | Edited 3:58am
...anyone else catch USD/CAD long earlier?...i'm watching EUR/GBP closely atm for longs once the stoch comes into line.

EDIT: ...there may be a 123 long forming now on the 15min...looks to have made it's higher low, so this is giving me more confidence in a Daz long around the 1hr SMA(5) which will also coincide with a break of the hourly inside bar already printed.

Good luck all.
  • #394
  • Apr 1, 2008 4:11am Apr 1, 2008 4:11am
Hi ChowClown,

I entered in USDCAD today morning.
I am concern with the trade. I closed already 2/3 of my position at 61.6 and 78.6 Fibonacci projection levels but last price bar is too much close to SMA5 and Stochastic is changing direction down .... Are we seeing a reversal?

Have a nice day !!

Pip
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad1.png Size: 27 KB
  • #395
  • Apr 1, 2008 4:17am Apr 1, 2008 4:17am
Quoting Pip
Hi ChowClown,

I entered in USDCAD today morning.
I am concern with the trade. I closed already 2/3 of my position at 61.6 and 78.6 Fibonacci projection levels but last price bar is too much close to SMA5 and Stochastic is changing direction down .... Are we seeing a reversal?

Have a nice day !!

Pip
Bro, I am pretty sure you should have taken your first lot off at FE50. Second @ 61.8 and third @ 78.6. Because your first target is way higher than Stop loss, so you exit your first position at FE50.
  • #396
  • Apr 1, 2008 4:23am Apr 1, 2008 4:23am
Quoting mazdaz
Bro, I am pretty sure you should have taken your first lot off at FE50. Second @ 61.8 and third @ 78.6. Because your first target is way higher than Stop loss, so you exit your first position at FE50.
Agreed, that's how i exited. An encouraging start to the day.
  • #397
  • Apr 1, 2008 5:00am Apr 1, 2008 5:00am
[quote=ChowClown;1930849...i'm watching EUR/GBP closely atm for longs once the stoch comes into line.

EDIT: ...there may be a 123 long forming now on the 15min...looks to have made it's higher low, so this is giving me more confidence in a Daz long around the 1hr SMA(5) which will also coincide with a break of the hourly inside bar already printed.[/quote]

...OK so let's see if the 78.6 will support instead...
  • #398
  • Apr 1, 2008 5:12am Apr 1, 2008 5:12am
Quoting ChowClown
...OK so let's see if the 78.6 will support instead...
EURGBP
on 30min,
ema21 already intersected ema60! indicate downtrend on smaller TF!

could be reaching ema200 as well!!
who knows..

just my idea!

pid
{Promotion Removed}
  • #399
  • Apr 1, 2008 5:16am Apr 1, 2008 5:16am
Quoting popisdead
on 30min,
ema21 already intersected ema60! indicate downtrend on smaller TF!

could be reaching ema200 as well!!
who knows..

just my idea!

pid
agreed, heading down towards last few day's former resistance area, which coincides with an hrly EMA(200).
  • #400
  • Apr 1, 2008 5:17am Apr 1, 2008 5:17am
Quote
Bro, I am pretty sure you should have taken your first lot off at FE50. Second @ 61.8 and third @ 78.6. Because your first target is way higher than Stop loss, so you exit your first position at FE50.
Mazdaz

Thank you for your opinion about how to setup profit targets.
I choose Target profits more agressive because we have a high range confirmation bar after enter the trade. With my option I have a risk reward of 2.35. However in order to have a lower risk and to cash profits your approach is better (R.R of 1.67).

I am attaching a picture with the two options.

Have nice pips !!!
Attached Image (click to enlarge)
Click to Enlarge Name: MM.png Size: 25 KB
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