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Powerful Fib Based System - by DAZfx

  • #1,361
  • Jan 6, 2009 3:41pm Jan 6, 2009 3:41pm
james,

Stoch is still in overbought region in 1hr tf............. u got a steel heart man
  • #1,362
  • Jan 6, 2009 3:50pm Jan 6, 2009 3:50pm
Quoting Naijafx
james,

Stoch is still in overbought region in 1hr tf............. u got a steel heart man
Lol. I am not sure about the steel heart statement.

I just took the trade as the R:R looked excellent.
  • #1,363
  • Jan 6, 2009 3:54pm Jan 6, 2009 3:54pm
I could have taken 22pips from this trade at one point making the R:R = 1:1 but I am going to be a bit greedy and go for glory.
  • #1,364
  • Jan 6, 2009 4:26pm Jan 6, 2009 4:26pm
this is looking good for possible setup
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 14 KB
  • #1,365
  • Jan 6, 2009 4:40pm Jan 6, 2009 4:40pm
Quoting Naijafx
this is looking good for possible setup
Very nice setup.

78.6 retrace. Long. Only problem is the confirmation candle is taking off too quickly. I hope I can get a good entry on the next candle and maybe target FE78.6 level
  • #1,366
  • Jan 6, 2009 4:49pm Jan 6, 2009 4:49pm
Wow, what a nice trade missed. If only the pair could hold itself together for one more hour.

  • #1,367
  • Jan 6, 2009 4:59pm Jan 6, 2009 4:59pm
The EUR/USD trade is doing well. +41pips atm.
  • #1,368
  • Jan 6, 2009 5:07pm Jan 6, 2009 5:07pm
EURUSD Short

+73pips and counting. lol
  • #1,369
  • Jan 6, 2009 5:16pm Jan 6, 2009 5:16pm
I got in with a break out strategy, the low of the 4IB as i knew that the momentum will bring me in +51pips man

nice trade
  • #1,370
  • Jan 6, 2009 5:20pm Jan 6, 2009 5:20pm
Quoting Naijafx
I got in with a break out strategy, the low of the 4IB as i knew that the momentum will bring me in +51pips man

nice trade
Excellent! Where is your T/P? Are you using Daz FE 50 or you calculated your own TP?
  • #1,371
  • Jan 6, 2009 5:24pm Jan 6, 2009 5:24pm
I have taught this entry strategy before in the room, once its difficult getting in using 1hr entry due to stoch overbought or oversold.


As you can see, we have smaller candles, precisely 4bars to the bullish bar, after the fourth bar, i place PO two pips lower than the low of the IB range, then stoch is already out of overbought region

so the mkt filled me with momentum when the mkt breaks through.

attached is my chart
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 14 KB
  • #1,372
  • Jan 6, 2009 5:32pm Jan 6, 2009 5:32pm
Quote
Excellent! Where is your T/P? Are you using Daz FE 50 or you calculated your own TP?

hey james, I'd like to be greedy like you and go for glory.......... lol, closed some position at 1:1, now am going to remain in the trade till 1.30?? which is the final abcd completion from a bigger swing.


there might be opportunity to add to it, u never can tell where this will take us to......

Nice chatting with you
  • #1,373
  • Jan 6, 2009 5:39pm Jan 6, 2009 5:39pm
Quoting Naijafx
hey james, I'd like to be greedy like you and go for glory.......... lol, closed some position at 1:1, now am going to remain in the trade till 1.30?? which is the final abcd completion from a bigger swing.


there might be opportunity to add to it, u never can tell where this will take us to......

Nice chatting with you
WoW 1.30!

I have placed FE 50 as my target. Even if I exit now i should still have a 1:2.5 R:R trade (stop was only 22pips wide at the time).
  • #1,374
  • Jan 7, 2009 1:19am Jan 7, 2009 1:19am
Quoting jamesdarren
WoW 1.30!

I have placed FE 50 as my target. Even if I exit now i should still have a 1:2.5 R:R trade (stop was only 22pips wide at the time).

Hope you guys were not too greedy and managed to take some pips of the table before the stops were hit on both trades.

Pray for a home run in subsequent signals.
God's Love For You Is Sure Never You Doubt It
  • #1,375
  • Jan 7, 2009 1:06pm Jan 7, 2009 1:06pm
hello guys,
no much trading for me today as i was out attending other concerns. But i did come home to see a nice trade on the EG 1hr tf.

However, i see EU setting up on the 4hr and daily tf.

GU seems to be getting set on the daily too

AU also is getting set on the 4hr tf, but my fear is the pin bar forming double top which shows the likelyhood of the uptrend being topped out

What say ye guys to these
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 4hr.gif Size: 11 KB
Click to Enlarge Name: eu daily.gif Size: 13 KB
Click to Enlarge Name: gu daily.gif Size: 14 KB
Click to Enlarge Name: au 4hr.gif Size: 11 KB
God's Love For You Is Sure Never You Doubt It
  • #1,376
  • Jan 9, 2009 8:36pm Jan 9, 2009 8:36pm
After trading awhile, I realised that indeed PRICE ACTION is the best method of trading. That's because most of the big players use it.

Is there any other price action method other than FIB?
{Promotion Removed}
  • #1,377
  • Jan 12, 2009 4:55am Jan 12, 2009 4:55am
I believe we have a valid setup on EURGBP H1. Any feedback appreciated.
Attached Image
  • #1,378
  • Jan 12, 2009 11:56am Jan 12, 2009 11:56am
Quoting Blackeagle
I believe we have a valid setup on EURGBP H1. Any feedback appreciated.
hey blackeagle ...

i know this response is way too late for the trade that you posted, apologies for that ( i have a day time job)

if it was me, i wouldnt have taken the trade because the chart is showing divergence - from the start of your impulsive wave to the candle that retraces to the 61 fib level. this form of regular divergence means price will continue to go up.

current charts seem to back this up.

however, i'm still a newbie and all of this could be wrong, so take it with a pinch of salt. hopefully one of the more experienced guys will drop in and give an opinion (will be good for my own education also).

hope its of some help though.

cheers
iffy
  • #1,379
  • Jan 12, 2009 7:08pm Jan 12, 2009 7:08pm
Quoting Blackeagle
I believe we have a valid setup on EURGBP H1. Any feedback appreciated.
I am new here, can you tell me how do you post the chart ? Also check out usd/jpy for probable setup .
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #1,380
  • Jan 12, 2009 7:16pm Jan 12, 2009 7:16pm
usd/chf also looks good boys
The finest tool in the world still needs a MAN who KNOWS how to use it.
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