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Attachments: Powerful Fib Based System - by DAZfx
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Powerful Fib Based System - by DAZfx

Another question.

If a retracement occurs and successfully extends and then retraces back to the original retracement level or maybe higher, and once again creates a valid candle, stochastic, and 5 ma signal, is it still a valid daz system signal or should one take a once and done approach?

Best Regards
Do you guys see something brewing here in the daily yen/USD?

Incidentally, this is a futures contract of the yen.
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  •  pipsfx
  • | Joined Nov 2008 | Status: Wanted to do well as others too. | 11 Posts
Quoting MightyMouse
Do you guys see something brewing here in the daily yen/USD?

Incidentally, this is a futures contract of the yen.
Hey, post currency pics as well when trade accours.Anyway normaly we dont trade futures yen contract here/i dont have the chart neither.ok
  •  pipsfx
  • | Joined Nov 2008 | Status: Wanted to do well as others too. | 11 Posts
Usd/Cad few hours before london open.
  •  pipsfx
  • | Joined Nov 2008 | Status: Wanted to do well as others too. | 11 Posts
IS there any entry coming un Usd/Chf on this setup as anybody saw it??
IT seems to have one here ...anybody??
Quote
IS there any entry coming un Usd/Chf on this setup as anybody saw it??
IT seems to have one here ...anybody??

it will do us good if a chart is posted


Mighty mouse, sorry for late response, i believe that the chart would have taken shape by now for either entry or non
  •  pipsfx
  • | Joined Nov 2008 | Status: Wanted to do well as others too. | 11 Posts
Well actually i love post charts,that day i tried but i cant upload so i did`t so here`s my Cad trade just now worth abt 20 pts.I did`t notice Nzd/U it just made a move.Anyway i am neew to this thread so i would like to jion here too.

Thankks.
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Quoting pipsfx
Well actually i love post charts,that day i tried but i cant upload so i did`t so here`s my Cad trade just now worth abt 20 pts.I did`t notice Nzd/U it just made a move.Anyway i am neew to this thread so i would like to jion here too.

Thankks.
hello pipsfx, ur chart is not showing enough info.
God's Love For You Is Sure Never You Doubt It
Here's a potential short on GB/US. 240 minutechart. it is in a daily,weekly, monthly downtrend.

Does this look like something is cooking?
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Quoting MightyMouse
Here's a potential short on GB/US. 240 minutechart. it is in a daily,weekly, monthly downtrend.

Does this look like something is cooking?
Pound is looking quite strong. If I were you, I wouldn't be looking for shorts on this pair atm.
Quoting mazdaz
Pound is looking quite strong. If I were you, I wouldn't be looking for shorts on this pair atm.
Long live the Queen. lol
I just re-read the entire thread, to refresh my memory, and towards the end I came across a few references:

"The trading system that I use is the New and Improved Daz system."

And:

"I want us to meet in the room for like 20mins for a very important discussion on the new improved daz method."

Is this to do with the incorporation of trendlines, and how they help in the determination of the trend?
All flesh is as grass
Quoting D liberators
hello pipsfx, ur chart is not showing enough info.
Maybe this is what Pipsfx wanted to share.

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Although the signal looks good with the aid of divergence, I wouldn't have traded that for two reasons.

1) Confirmation candle looks too bullish.
2) Retracement to 61.8 doesn't look that convinving.


Not trading today, as there is far too much volume in the market for my liking. (You wouldn't expect to hear that from a trader would you? lol)
Quoting MightyMouse
Another question.

If a retracement occurs and successfully extends and then retraces back to the original retracement level or maybe higher, and once again creates a valid candle, stochastic, and 5 ma signal, is it still a valid daz system signal or should one take a once and done approach?

Best Regards
From my understanding, you can keep entering. But make sure the stochastics are at the top/bottom end of the oscillator window.
Quoting mazdaz
Maybe this is what Pipsfx wanted to share.

Attachment 188105


Although the signal looks good with the aid of divergence, I wouldn't have traded that for two reasons.

1) Confirmation candle looks too bullish.
2) Retracement to 61.8 doesn't look that convinving.


Not trading today, as there is far too much volume in the market for my liking. (You wouldn't expect to hear that from a trader would you? lol)
It does not have to reach 61.8 to the pip in my humble opinion. I think in this volatile market, this can be classified as a good enough retrace. But I do agree that the confirming candle looks like a bull candle. If 1) was rectified, I would have taken that signal.
i find this method has a large drawdown. Is there any filter other than stochastics?
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i find this method has a large drawdown. Is there any filter other than stochastics?

well that means u havent understood the method's concept. the drawdown is relatively low.
TRADE ALERT!

Confirmation candle in the making. If it is a bullish one then we can look for entry.

Thanks

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Okay, so lets use this GBP/USD as an example trade.

If the comfirmation candle is bullish and stochastic is going up, we can enter when price is near the 5 ma on the next candle

Is that right? I think thats wat i have grasped so far after reading this lengthy thread.
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Okay so was the GBPUSD a valid bullish candle? I guess not right. coz the price is goin down.
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