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Powerful Fib Based System - by DAZfx

  • #841
  • Aug 13, 2008 6:08am Aug 13, 2008 6:08am
Looking at AUSD 1hr chart, the retracement to 61.8 was a bullish reversal candle and as such we wait for a bearish reversal which just happened with bearish outside vertical bar but the R:R is not too good.

but I will only enter if i get retracement to sma5 to get good R:R
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  • #842
  • Aug 13, 2008 6:15am Aug 13, 2008 6:15am
Hey ChowClown,
Thanks for the reply mate,
Patients is the real key to this business i think, Jacko has been teaching me that.
I guess if people give a method a real shot, and pick the eyes out of the trade setups they will be successful. Which is probably the downside to a place like this, in that there is too much to distract people to other things.

Now on to the serious business, the aud/usd i have been watching,the 1 hr chart showed a pull back to the 786 then followed by a bearish engulfing candle, but the stocks haven't crossed as yet, when would you guys consider it too far gone to worry about when the stocs do cross.

cheers
geoff
  • #843
  • Aug 13, 2008 6:16am Aug 13, 2008 6:16am
wow, it looks like easy to learn... i'll bookmark it
  • #844
  • Aug 13, 2008 6:17am Aug 13, 2008 6:17am
Quoting Naijafx
Looking at AUSD 1hr chart, the retracement to 61.8 was a bullish reversal candle and as such we wait for a bearish reversal which just happened with bearish outside vertical bar but the R:R is not too good.

but I will only enter if i get retracement to sma5 to get good R:R
...looks sweet as a nut, Mike. I'll be taking this one too.
  • #845
  • Aug 13, 2008 6:21am Aug 13, 2008 6:21am
Quoting geoffrod
Now on to the serious business, the aud/usd i have been watching,the 1 hr chart showed a pull back to the 786 then followed by a bearish engulfing candle, but the stocks haven't crossed as yet, when would you guys consider it too far gone to worry about when the stocs do cross.
Geoff, looks as though a few of us are waiting to pounce on the hrly AU, wait for a pullback to the SMA(5) and fill yer boots. Good hidden divergence on that one too. Good luck.
  • #846
  • Aug 13, 2008 6:29am Aug 13, 2008 6:29am
Could you guys give me the targets for the aud please as my charting package(Dealbook360) doesn't do fib expansions

thanks in advance
geoff
  • #847
  • Aug 13, 2008 6:34am Aug 13, 2008 6:34am
Quoting geoffrod
Could you guys give me the targets for the aud please as my charting package(Dealbook360) doesn't do fib expansions

thanks in advance
geoff
..sure:

50 = 8646
61.8 = 8623
78.6 = 8591
100 = 8550

...definitely worth installing metatrader for charting, if you haven't already
  • #848
  • Aug 13, 2008 6:45am Aug 13, 2008 6:45am
thanks

so do you guys enter the market via a market order or do you set a limit order at the sma level and let it happen?
  • #849
  • Aug 13, 2008 6:55am Aug 13, 2008 6:55am
i use a limit and move it around with the ma.
  • #850
  • Aug 13, 2008 7:10am Aug 13, 2008 7:10am
anyone filled????

I read somewhere in the thread that the first target is filled 95% of the time, is this fact or opinion???
  • #851
  • Aug 13, 2008 7:18am Aug 13, 2008 7:18am
Quoting geoffrod
anyone filled????

I read somewhere in the thread that the first target is filled 95% of the time, is this fact or opinion???
Short now from 8698. I don't think Daz stated 95%...in fact i don't think anyone has posted formal test results to the thread yet.
  • #852
  • Aug 13, 2008 7:38am Aug 13, 2008 7:38am
Quote
anyone filled????

I read somewhere in the thread that the first target is filled 95% of the time, is this fact or opinion???

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


Well, the result will never be the same. u can see the result yourselve from my post so far.

we posted even the ones we lost.

But am sure u will be successful if u take the trades according to the rules and make sure that your swing AB is ok and in line with the daily trend.

thanks
  • #853
  • Aug 13, 2008 8:08am Aug 13, 2008 8:08am
The daily setup is yet to be triggered, I placed my PO at 1.6245 and it hasn't triggered, there is an upward trendline that is still holding and the trendline is a major factor here.

Stoch hasn't crossed 20 too. am still waiting for it to trigger.

Hope anybody is watching the daily too.
  • #854
  • Edited 9:17am Aug 13, 2008 9:02am | Edited 9:17am
EURJPY hit tgt1 at 77pips
EUSD HIT TGT1 at 60pips
AUSD just fall short its tgt1 by 10pips
congrats

Too much pips
  • #855
  • Aug 13, 2008 9:16am Aug 13, 2008 9:16am
Hello all,

I have not been on this thread for a while, silly me. I have been doing the old flip flop of other systems with little success and its about time I came back to "old reliable". I was originally taught a very similar system to this but this one is a bit more reliable.
Geoffrod, I have dealbook 360 and have the fibs set up in a way which is very simple, slightly different to what most of these guys use, but gives good targets. If you want I can post the settings here for you.
Good to be back and my first fib trade in along while is nearing T1.

Regards.
  • #856
  • Aug 13, 2008 9:23am Aug 13, 2008 9:23am
udschf 1h
  • #857
  • Aug 13, 2008 9:24am Aug 13, 2008 9:24am
Quoting aajduk
Geoffrod, I have dealbook 360 and have the fibs set up in a way which is very simple, slightly different to what most of these guys use, but gives good targets. If you want I can post the settings here for you.
Good to be back and my first fib trade in along while is nearing T1.
Nice one, which pair are you in atm? I'd also be interested to see how you use fibs for targets.
  • #858
  • Aug 13, 2008 9:27am Aug 13, 2008 9:27am
Quoting Dejan
udschf 1h
...which way, Dejan? Stoch look a bit iffy (to me). I'm eyeing up a 15min short 'scalp' there.
  • #859
  • Aug 13, 2008 9:34am Aug 13, 2008 9:34am
Quote
Hello all,

I have not been on this thread for a while, silly me. I have been doing the old flip flop of other systems with little success and its about time I came back to "old reliable". I was originally taught a very similar system to this but this one is a bit more reliable.
Geoffrod, I have dealbook 360 and have the fibs set up in a way which is very simple, slightly different to what most of these guys use, but gives good targets. If you want I can post the settings here for you.
Good to be back and my first fib trade in along while is nearing T1.

Regards.

Don't be too hard on yourself, we've all been there before. i was away from this system 4months before I came back.

wot prompted my coming back, I tried all other system without success and i discovered that even trying other systems help to sharpen my fx skills.

My understabding of the market has grown exponentially and i must say big thank to my friends online that have helped me.

In this mkt I think its good to stick to a particular system and perfection will come overtime.

Another thing, we should watch for s/r and ensure that we don't leave any pips on the table. i hate losing a trade becos +50pips which is 5pips shy away from tgt hit s/r and thereby reversing.

This market needs some common sense, i move sl to b/e once 1tgt is hit. and let the other do the roaming. the mkt is dynamic hence we shd be up to date with wot is happening in the mkt

Mike
  • #860
  • Aug 13, 2008 9:39am Aug 13, 2008 9:39am
Quote
Originally Posted by aajduk http://www.forexfactory.com/images/buttons/viewpost.gif
Geoffrod, I have dealbook 360 and have the fibs set up in a way which is very simple, slightly different to what most of these guys use, but gives good targets. If you want I can post the settings here for you.
Good to be back and my first fib trade in along while is nearing T1.



Nice one, which pair are you in atm? I'd also be interested to see how you use fibs for targets.

aadjduk, plz post ur stuff here, we wonna learn seen that it will help us, yeah, we are hungry to learn.

CC, nice reading from you.
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