Attachments: Powerful Fib Based System - by DAZfx

Powerful Fib Based System - by DAZfx

#761
Aug 5, 2008 10:14am Aug 5, 2008 10:14am

Naijafx
| Commercial User | Joined Nov 2007 | 1,296 Posts

I did a little tweaking of sl here.

Put my sl above the trendline.

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#762
Aug 5, 2008 10:29am Aug 5, 2008 10:29am

Naijafx
| Commercial User | Joined Nov 2007 | 1,296 Posts

GU target 2 hit as well. now on a free ride

I'd like to say something here. 15min entry is not as reliable as 1hr and 4hr entries.

if anybody spot a setup, such should be made notified.

thanks

#763
Aug 5, 2008 11:14am Aug 5, 2008 11:14am

NerryE
| Joined Jul 2008 | Status: Trader | 130 Posts

Hi naijafx, Good trade call there, Pls what is the setting for the stoch, is it simple or exp and or close/close or high/low.Your profit taken is it manually or u set it at the various targets. thanks Nerry.

#764
Aug 5, 2008 3:01pm Aug 5, 2008 3:01pm

Naijafx
| Commercial User | Joined Nov 2007 | 1,296 Posts

Quote

Disliked

#763 http://www.forexfactory.com/images/buttons/report.gif
http://www.forexfactory.com/images/s...n/post_old.gif Today 5:14pm
NerryE
Member
Member Since Jul 2008
Posts: 11

http://www.forexfactory.com/images/icons/icon1.gif naijafx? Good trade call on GU 15M...
Hi naijafx, Good trade call there, Pls what is the setting for the stoch, is it simple or exp and or close/close or high/low.Your profit taken is it manually or u set it at the various targets. thanks Nerry.

http://www.forexfactory.com/images/buttons/quote.gif

Hello Nerry, the stoch setting is 833, the normal stoch setting. plz read the first post by daz for good understanding of the system. anyway, u risk 1% size of your acct, and split that into three trades. the first trade as its tgt set to tgt1 while the second trade has its set to tgt2. once tgt2 is met, u set the sl of trade 3 to b/e and let tgt 3 be met.

LOOK for possible trade on GCHF and EURGBP on 4hrs during asian session. I can see retracement on them now for possible trade continuation. the close of today's candle will give better idea.

#765
Aug 5, 2008 4:08pm Aug 5, 2008 4:08pm

Naijafx
| Commercial User | Joined Nov 2007 | 1,296 Posts

missed this one!
too bad

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#766
Edited 4:40pm Aug 5, 2008 4:13pm | Edited 4:40pm

Naijafx
| Commercial User | Joined Nov 2007 | 1,296 Posts

missed this one!
too bad

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#767
Aug 6, 2008 2:21am Aug 6, 2008 2:21am

Aad
Joined Feb 2008 | Status: ¨°-°¨ | 916 Posts

This is definitely an interesting way of looking at fibs and I have added it to my fib trading tool box, thanks DazFx...

#768
Aug 6, 2008 3:10am Aug 6, 2008 3:10am

CarbureTor
| Joined Jun 2008 | Status: Trader | 59 Posts

Hi

Do you think we should SELL this one ?

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#769
Edited 5:07am Aug 6, 2008 3:37am | Edited 5:07am

ChowClown
| Joined Sep 2006 | Status: Trader | 944 Posts

Quoting CarbureTor

Disliked

Hi

Do you think we should SELL this one ?

Ignored

EJ has produced excellent Daz results in recent times and price is once again in the 'value' zone. I'll be taking a break of the hrly inside candle/bar, short.

Good luck.

Edit: Stopped out EJ for 1% loss. Will re-enter short if given an opportunity. Took the EU short too at around the same time as EJ, which is restoring the balance of the loser.

#770
Aug 6, 2008 5:15am Aug 6, 2008 5:15am

Naijafx
| Commercial User | Joined Nov 2007 | 1,296 Posts

Good spot Chowclown but plz always alert the traders when u spot good signals.

my advice to us, whenever we see several candle as impulsive wave at 1hr, this should give us a clue that a signal is forming in 4hr, it has happened severally, we should look for at most 10 candles set up.

we lost EJ on 1hr but setup is forming on 4hrs. EU setup is the advanced entry, it works with divergence spotted on stoch.

GU looks like a setup but not a textbook entry

thanks all

DAZ METHOD IS BACK TO STAY

#771
Aug 6, 2008 6:01am Aug 6, 2008 6:01am

NerryE
| Joined Jul 2008 | Status: Trader | 130 Posts

Quoting Naijafx

Disliked

Good spot Chowclown but plz always alert the traders when u spot good signals.

my advice to us, whenever we see several candle as impulsive wave at 1hr, this should give us a clue that a signal is forming in 4hr, it has happened severally, we should look for at most 10 candles set up.

we lost EJ on 1hr but setup is forming on 4hrs. EU setup is the advanced entry, it works with divergence spotted on stoch.

GU looks like a setup but not a textbook entry

thanks all

DAZ METHOD IS BACK TO STAY

Ignored

Hello naijafx, I totally agree with u,if the impulse wave is more than 10 candles,it will be best to take a look at 4Hr. At last ,people started posting which is a good thing for us all. Chf/jpy 4Hr has been smiling at me since yesterday and this morning, AND PLS TAKE A LOOK AT IT NOW, hope a sell can come out of it. Thanks Daz. Nerry. I think i have a clue now on how to post chart, so let see if i can alert/contribute too in my next post.

#772
Aug 6, 2008 6:11am Aug 6, 2008 6:11am

smalldog2
| Membership Revoked | Joined Jun 2007 | 114 Posts

This is a nice mechanical system, and it has a lot going for it, fibs are powerful when applied correctly and with good money management.

Any coders out there interested in putting this together?, I can supply the zigzag tool no problem. Also pretty sure we can develop a trend indicator that we can use. I have a couple already in mind

Smalldog

#773
Aug 6, 2008 6:12am Aug 6, 2008 6:12am

Naijafx
| Commercial User | Joined Nov 2007 | 1,296 Posts

i will advice that we read these posts. daily, it will help us a lot

http://www.forexfactory.com/showpost...4&postcount=23
http://www.forexfactory.com/showpost...15&postcount=1
http://www.forexfactory.com/showpost...1&postcount=22
http://www.forexfactory.com/showpost...6&postcount=25
http://www.forexfactory.com/showpost...7&postcount=28

#774
Aug 6, 2008 6:19am Aug 6, 2008 6:19am

Naijafx
| Commercial User | Joined Nov 2007 | 1,296 Posts

EJ should be our next victim.

Can we all be taking our signal from same platform. i use alpari, donno know if u guyz will like such arrangement.

for the guy looking for EA for this method, ah! this is not a mechanical method but come to think of it, anything thinkable is programmable, rite? but haven't seen a FIBO based EA

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#775
Aug 6, 2008 8:16am Aug 6, 2008 8:16am

xkuba
| Joined Jul 2008 | Status: FX student | 23 Posts

Hi everybody,

could you explain me how do you draw TP levels. I can't find how you draw it. I am only able to draw fib levels from point A to point B but not from point A to point B and to point C. Thanks

#776
Aug 6, 2008 9:54am Aug 6, 2008 9:54am

NerryE
| Joined Jul 2008 | Status: Trader | 130 Posts

Quoting NerryE

Disliked

Hello naijafx, I totally agree with u,if the impulse wave is more than 10 candles,it will be best to take a look at 4Hr. At last ,people started posting which is a good thing for us all. Chf/jpy 4Hr has been smiling at me since yesterday and this morning, AND PLS TAKE A LOOK AT IT NOW, hope a sell can come out of it. Thanks Daz. Nerry. I think i have a clue now on how to post chart, so let see if i can alert/contribute too in my next post.

Ignored

hello, http://www.forexfactory.com/images/attach/gif.gif http://www.forexfactory.com/images/attach/jpg.gif Nerry.

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#777
Aug 6, 2008 2:31pm Aug 6, 2008 2:31pm

Naijafx
| Commercial User | Joined Nov 2007 | 1,296 Posts

Good work nerry.

The EJ trap didn't work out. if u check the daily EJ, u will notice a bullish divergence but am afraid the bull may not run for long as EJ is heading for all time hi region. strong resistance around 169.95.

Nevertheless, i keep looking for long, and keep my eye on 169.75 arena. i may be wrong

#778
Aug 6, 2008 4:30pm Aug 6, 2008 4:30pm