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A,B,C,D - 1,2,3,4 System

  • #201
  • Aug 31, 2008 9:24pm Aug 31, 2008 9:24pm
Quoting pkimnyc
I know this is not an ideal set up, but i took this trade anyway as soon as i saw the price hitting 61.8@ fibo. risking 27 pips seemed worth a shot.
got out with +56 pips.
  • #202
  • Aug 31, 2008 9:27pm Aug 31, 2008 9:27pm
good for you
  • #203
  • Sep 1, 2008 12:15am Sep 1, 2008 12:15am
Quoting pkimnyc
I know this is not an ideal set up, but i took this trade anyway as soon as i saw the price hitting 61.8@ fibo. risking 27 pips seemed worth a shot.
Thats not a bad entry, that was a tweezer bottom at the 61.8, almost at the TL, the market does not have to be exactly at the TL for you to enter.
  • #204
  • Sep 1, 2008 8:01am Sep 1, 2008 8:01am
All these gaps have me rather confused .. not sure how to draw next tl's. Now we just wait for the retracements?
  • #205
  • Sep 1, 2008 8:06am Sep 1, 2008 8:06am
Also .. is there a thread that explains just how to identify the A & B points, I am still having a big problem with that when I look at a naked chart.
  • #206
  • Sep 1, 2008 8:11am Sep 1, 2008 8:11am
Hello All, well big up to dra for creating this thread, this really can help in fine tuning TL trading.

Well I took that trade too, went in a bit late, and limited out just at that high. I glad I did at that point.

Quoting Dra
Thats not a bad entry, that was a tweezer bottom at the 61.8, almost at the TL, the market does not have to be exactly at the TL for you to enter.
  • #207
  • Sep 1, 2008 8:17am Sep 1, 2008 8:17am
Quoting TraderStar
All these gaps have me rather confused .. not sure how to draw next tl's. Now we just wait for the retracements?
The past TLs are still valid, I'm not seeing where any new ones needed at the moment on my charts.
  • #208
  • Sep 1, 2008 8:21am Sep 1, 2008 8:21am
Quoting TraderStar
Also .. is there a thread that explains just how to identify the A & B points, I am still having a big problem with that when I look at a naked chart.
First thing you do when looking at a naked chart is draw the TLs, all that can be draw, connecting higher lows and lower highs. In an up trend your A would be where the TL start, B at the previous high, C at the TL from the retrace at B and D at the present high/extension from C. This process continues, C becomes A, D becomes B then you project a new C. The exact opposite for a down trend.
  • #209
  • Sep 1, 2008 8:24am Sep 1, 2008 8:24am
Quoting Dra
First thing you do when looking at a naked chart is draw the TLs, all that can be draw, connecting higher lows and lower highs. In an up trend your A would be where the TL start, B at the previous high, C at the TL from the retrace at B and D at the present high/extension from C. This process continues, C becomes A, D becomes B then you project a new C. The exact opposite for a down trend.
Ok Dra but would you wait for a first set of ABC to start trading on the next one in order to make the trend being clear ?
  • #210
  • Sep 1, 2008 8:29am Sep 1, 2008 8:29am
Quoting K-fx
Ok Dra but would you wait for a first set of ABC to start trading on the next one in order to make the trend being clear ?
Yes, but not when there is a TL break/trend reversal.
  • #211
  • Sep 1, 2008 8:49am Sep 1, 2008 8:49am
Quote
Originally Posted by Dra http://www.forexfactory.com/images/buttons/viewpost.gif
First thing you do when looking at a naked chart is draw the TLs, all that can be draw, connecting higher lows and lower highs. In an up trend your A would be where the TL start, B at the previous high, C at the TL from the retrace at B and D at the present high/extension from C. This process continues, C becomes A, D becomes B then you project a new C. The exact opposite for a down trend.



Here's an example of what I mean .. in DAZfx's thread he identified the points A, B, C on this chart .. but according to what you're saying, the down arrow above the A would be the actual A (and I would think that too) .. so why did he pick the lower top as the A?
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd.gif Size: 19 KB
  • #212
  • Sep 1, 2008 8:51am Sep 1, 2008 8:51am
Quoting Dra
The past TLs are still valid, I'm not seeing where any new ones needed at the moment on my charts.
That's what I mean .. no new ones can be drawn yet .. so we just wait until price retraces to the present ones, or until it allows for new ones to be drawn?
Wait until the egg hatches?? I really want to use the hammer ...
  • #213
  • Sep 1, 2008 8:58am Sep 1, 2008 8:58am
Quote
Also .. is there a thread that explains just how to identify the A & B points, I am still having a big problem with that when I look at a naked chart.

I will encourage anybody to read post 43 in page 3 of this thread, it will solve the issue of drawing TL and effectively trading this system.

I still believe that the post is the heart of this system, i still read it daily to have all the secrets of this method in my finger tips. there is so much about that post if u read and ponder on it.
  • #214
  • Sep 1, 2008 9:15am Sep 1, 2008 9:15am
Quote
Here's an example of what I mean .. in DAZfx's thread he identified the points A, B, C on this chart .. but according to what you're saying, the down arrow above the A would be the actual A (and I would think that too) .. so why did he pick the lower top as the A?

Don't get confused with dra and daz system. they are both same system in that they both wait for retracement to C before pulling trigger.

Daz system, will only look for trade that is trending along the daily time frame but here with dra, the TL determine the prevailing trend, the longer trend can be short and be trading medium term long trades base on wot the TL is saying.

Do read post 43 in page 3.

I trade both system very well and i restrict myself to 1hr time frame using Daz method.
  • #215
  • Sep 1, 2008 10:16am Sep 1, 2008 10:16am
Quoting TraderStar
Here's an example of what I mean .. in DAZfx's thread he identified the points A, B, C on this chart .. but according to what you're saying, the down arrow above the A would be the actual A (and I would think that too) .. so why did he pick the lower top as the A?
Start the TL from the previous high to A, you will see there was an entry at C. Thats it basically.
  • #216
  • Sep 1, 2008 10:22am Sep 1, 2008 10:22am
On the chart posted below you will see that market pounce upon a TL(thick white line) that was hidden/drawn months ago. At the same point where it and the current down TL meets look what happen. It test the old TL bounce(gives first entry) and breaks the current TL. It then retrace to test both TLs and gives a Long entry. My entry was on the 1H after that EBl had formed.
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  • #217
  • Sep 1, 2008 5:30pm Sep 1, 2008 5:30pm
I have a buy stop waiting for me at 1036....
We had a nice bounce pluss abounce of the 38.2 fibb...

DRA let me know if the backboard of that trendline has more respect then the bounce of this trendline....thanks

Attached Image (click to enlarge)
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  • #218
  • Sep 1, 2008 6:08pm Sep 1, 2008 6:08pm
Something is coming there AUD/NZD.....
Attached Image (click to enlarge)
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  • #219
  • Sep 1, 2008 9:25pm Sep 1, 2008 9:25pm
Quoting Shermenator
I have a buy stop waiting for me at 1036....
We had a nice bounce pluss abounce of the 38.2 fibb...

DRA let me know if the backboard of that trendline has more respect then the bounce of this trendline....thanks
The price is still bouncing between those 2 TLs...... I think the best thing todo is to wait for it to cross either of these and then take a trade ?
  • #220
  • Sep 1, 2008 9:30pm Sep 1, 2008 9:30pm
Quoting Shermenator
I have a buy stop waiting for me at 1036....
We had a nice bounce pluss abounce of the 38.2 fibb...

DRA let me know if the backboard of that trendline has more respect then the bounce of this trendline....thanks

Attachment
Its just a shift in the channel, the up trend still in order.
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