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Powerful Fib Based System - by DAZfx

  • #1,021
  • Aug 22, 2008 12:08pm Aug 22, 2008 12:08pm
Quote
Do you think about the trade or the blue line?

Trade:
Yes it's on 5min, look at the top of the window, CADJPY 5min.

The blue line from the H1 timeframe

Good one but the method is not as reliable on lower time frame as we have on higher time frame.

good catch anyway.
Nice one
  • #1,022
  • Aug 22, 2008 12:19pm Aug 22, 2008 12:19pm
Quote
Do you think about the trade or the blue line?

Trade:
Yes it's on 5min, look at the top of the window, CADJPY 5min.

The blue line from the H1 timeframe
Possible setup on daily time frame
bearish divergence seen
confluence at 38.2 fib
bearish outside vertical bar
we wait for the candle to close and see wot the opening of new candle

this look another winner
Attached Image (click to enlarge)
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  • #1,023
  • Aug 22, 2008 12:22pm Aug 22, 2008 12:22pm
http://www.forexfactory.com/showpost...postcount=1007

this particular trade is still on doing very well
  • #1,024
  • Aug 22, 2008 3:14pm Aug 22, 2008 3:14pm
Quoting Naijafx
Possible setup on daily time frame
bearish divergence seen
confluence at 38.2 fib
bearish outside vertical bar
we wait for the candle to close and see wot the opening of new candle

this look another winner
Yes, possible setup on Daily. We might be able to get a good entry on 4 hour. Price broke TL and may form sHs at the back end of the trend line, can pull fibs if that happens.

We'll have to wait until Monday to see
Attached Image(s) (click to enlarge)
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  • #1,025
  • Aug 23, 2008 2:26am Aug 23, 2008 2:26am
Hey guyz,

does still work the chat at tradingroom.com? I can't find DazFX room?
  • #1,026
  • Aug 23, 2008 2:28am Aug 23, 2008 2:28am
To NaijaFX:

Will you go short on NZD/USD on Monday? The setup looks really great, there is stoch divergence and the trend is short on NZD/USD. What should be possible entry? 0.7125?
  • #1,027
  • Aug 23, 2008 3:17am Aug 23, 2008 3:17am
Quoting xkuba
Hey guyz,

does still work the chat at tradingroom.com? I can't find DazFX room?
Yes. Go into community rooms. Then look for powerful fib based system by dazfx.

Quoting xkuba
To NaijaFX:

Will you go short on NZD/USD on Monday? The setup looks really great, there is stoch divergence and the trend is short on NZD/USD. What should be possible entry? 0.7125?
If entering off the daily, just wait for price to retrace back to 5sma.
Or you could look at 4h and find an entry.
  • #1,028
  • Aug 23, 2008 3:59am Aug 23, 2008 3:59am
Question for you guys

are we waiting for a close on the candle before entry? on the 1hr timeframe?? or is it sufficient if its near the 5sma or just started to penetrate it

i say this because in some cases the 1hr bar blasts through the 5sma and hits all profit targets before the bar is closed lol so if you wait for a close then you missed out

i hope im clear about this any advice is apreciated
  • #1,029
  • Aug 23, 2008 12:05pm Aug 23, 2008 12:05pm
Quote
Yes, possible setup on Daily. We might be able to get a good entry on 4 hour. Price broke TL and may form sHs at the back end of the trend line, can pull fibs if that happens.

We'll have to wait until Monday to see
Good liquid, here is more detailed analysis. but I think entry on 4hr as u suggested will fetch Better R:R but for those that doesn't have the time to stay in fron of their PC, they could just place entry at the low of the BEOVB when the stoch crosses.

We should keep eyes at that support for those that will be entrying at 4hr.

Good pips in view
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  • #1,030
  • Aug 23, 2008 12:33pm Aug 23, 2008 12:33pm
Quoting avatarx51
Question for you guys

are we waiting for a close on the candle before entry? on the 1hr timeframe?? or is it sufficient if its near the 5sma or just started to penetrate it

i say this because in some cases the 1hr bar blasts through the 5sma and hits all profit targets before the bar is closed lol so if you wait for a close then you missed out

i hope im clear about this any advice is apreciated
You need to get a confirmation candle as well as the stochs crossing (after the candles close). On the next candle you can put your entry at the 5sma - so once it retraces back to the 5sma you will get entered.
  • #1,031
  • Aug 23, 2008 11:39pm Aug 23, 2008 11:39pm
Hello everyone,
Im not an expert, but this should be a "short term" trade, because a pinbar just formed on the weekly. Maybe a trade for the retrace, and in the middle of next week, UP again.

My 2 cents

WP

Quoting Liquid
Yes, possible setup on Daily. We might be able to get a good entry on 4 hour. Price broke TL and may form sHs at the back end of the trend line, can pull fibs if that happens.

We'll have to wait until Monday to see
  • #1,032
  • Aug 24, 2008 10:05am Aug 24, 2008 10:05am
What do you think about possible short entry on GBP/JPY at 203.95?
Attached Image
  • #1,033
  • Edited Aug 26, 2008 2:36am Aug 25, 2008 9:21pm | Edited Aug 26, 2008 2:36am
http://www.forexfactory.com/showpost...postcount=1022

Does anybody remember this trade call?
200 green pips already banked!
  • #1,034
  • Aug 27, 2008 4:45am Aug 27, 2008 4:45am
Hi everzbody

I took trade on eur/gbp yesterday. First target was hit and I realized that I will get ou of trade because trade was so slowly.
Attached Image (click to enlarge)
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  • #1,035
  • Aug 27, 2008 4:53am Aug 27, 2008 4:53am
Quoting Naijafx
http://www.forexfactory.com/showpost...postcount=1022

Does anybody remember this trade call?
200 green pips already banked!
Nicely done Naijafx...
  • #1,036
  • Aug 27, 2008 5:24am Aug 27, 2008 5:24am
Quoting xkuba
Hi everzbody

I took trade on eur/gbp yesterday. First target was hit and I realized that I will get ou of trade because trade was so slowly.
May I know what TF is that?


thx
  • #1,037
  • Aug 28, 2008 1:05pm Aug 28, 2008 1:05pm
GBP/USD
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  • #1,038
  • Aug 29, 2008 12:01pm Aug 29, 2008 12:01pm
Hello!

It's been a while since I actively participated in this chat group in tradingrooms. Does it still exist?
I want to ask you about this system. I like it a lot, and I practiced it a few months ago, then I was away from fx(job and travelling)... I have little experience with it, so that's why I'm asking you how effective do you find this strategy to be, if you have been testing it over longer period of time? 80%, 90% ?

Kind regards
  • #1,039
  • Aug 29, 2008 4:23pm Aug 29, 2008 4:23pm
Quoting bee24
Hello!

It's been a while since I actively participated in this chat group in tradingrooms. Does it still exist?
I want to ask you about this system. I like it a lot, and I practiced it a few months ago, then I was away from fx(job and travelling)... I have little experience with it, so that's why I'm asking you how effective do you find this strategy to be, if you have been testing it over longer period of time? 80%, 90% ?

Kind regards
Yes the room still exists, always looking for more people to join it. The system works as well as the person does, its not really an indicator system - the trader needs to be able to identify trend direction and take the waves in that direction. The more you watch price and study is the clearer it gets.
  • #1,040
  • Sep 1, 2008 9:36am Sep 1, 2008 9:36am
Hello traders

here is possible usdjpy trade in formation

confluence of reasons
1. Daily is trending down
2. price is beneath the Short TL at 4hr
3. Long TL is acting at resistance for price at 4hr
4. price is under 200 ema on hrly time frame
5. short TL is holding in 1hr
6. possible hidden bearish to be formed on 1hr


We are waiting for bearish reversal candle at good fib area before diving in.

Hope these help
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