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Powerful Fib Based System - by DAZfx

  • #1,381
  • Jan 12, 2009 11:29pm Jan 12, 2009 11:29pm
Quoting iffyfx
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...
Thanks for the feedback iffy. This pair has been very volatile recently and considering the amount of stoploss (too close), I didn't take that trade, but I just wanted to make sure, if one of the experienced traders on this strategy confirms, this was a valid setup.

I am not sure if Daz was looking at convergences/divergences on stoch (will go over the posts again), but technically speaking you are correct.
  • #1,382
  • Jan 12, 2009 11:41pm Jan 12, 2009 11:41pm
Quoting samdani786
I am new here, can you tell me how do you post the chart ? Also check out usd/jpy for probable setup .
First you need to save your mt4 chart by right clicking on the chart and saving the picture as Active Chart (600 x 600). Then, on "Reply to Thread" window, click on "Manage Attachments" tab, click on Browse and upload your saved chart and submit your reply.
  • #1,383
  • Jan 13, 2009 12:18am Jan 13, 2009 12:18am
Quote
am not sure if Daz was looking at convergences/divergences on stoch (will go over the posts again), but technically speaking you are correct.

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


We do!
  • #1,384
  • Jan 13, 2009 1:15am Jan 13, 2009 1:15am
Quoting Naijafx
We do!
Thanks.
  • #1,385
  • Jan 13, 2009 8:31am Jan 13, 2009 8:31am
testing
Attached Image
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #1,386
  • Jan 13, 2009 9:05am Jan 13, 2009 9:05am
testing
Attached Image (click to enlarge)
Click to Enlarge Name: euro shot.gif Size: 22 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #1,387
  • Jan 13, 2009 9:14am Jan 13, 2009 9:14am
testing
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #1,388
  • Jan 13, 2009 9:21am Jan 13, 2009 9:21am
testing image posting
Attached Image (click to enlarge)
Click to Enlarge Name: euro shot.gif Size: 22 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #1,389
  • Jan 13, 2009 9:29am Jan 13, 2009 9:29am
This could be a possible setup
Attached Image (click to enlarge)
Click to Enlarge Name: aud 1.gif Size: 21 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #1,390
  • Jan 13, 2009 9:54am Jan 13, 2009 9:54am
her is another one
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Click to Enlarge Name: gbp pic.gif Size: 20 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #1,391
  • Jan 13, 2009 11:32am Jan 13, 2009 11:32am
nice post sam, i dont trade most of those pairs u posted but i love the simplicity of your Euro analysis. u seem to have the understanding of the timing of the market.

Nice one
  • #1,392
  • Jan 13, 2009 12:36pm Jan 13, 2009 12:36pm
aud/jpy went to .786 and gbp/jpy went to .618 target already
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #1,393
  • Jan 13, 2009 2:09pm Jan 13, 2009 2:09pm
usd/jpy could be a good setup to go long if it closes above the trend line and the DPP
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #1,394
  • Jan 13, 2009 2:25pm Jan 13, 2009 2:25pm
we need to wait though
Attached Image (click to enlarge)
Click to Enlarge Name: jpy.gif Size: 22 KB
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  • #1,395
  • Jan 13, 2009 9:55pm Jan 13, 2009 9:55pm
euro looking good for one last short
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Click to Enlarge Name: euro shot.gif Size: 24 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #1,396
  • Jan 13, 2009 10:08pm Jan 13, 2009 10:08pm
watch this out
Attached Image (click to enlarge)
Click to Enlarge Name: jpy set up.gif Size: 18 KB
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  • #1,397
  • Jan 13, 2009 11:50pm Jan 13, 2009 11:50pm
usd jpy just touched its target at .786
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #1,398
  • Jan 13, 2009 11:56pm Jan 13, 2009 11:56pm
Quoting samdani786
usd jpy just touched its target at .786
if the trend is still down ( which looks like ) this euro setup is looking good
any comments ?
Attached Image (click to enlarge)
Click to Enlarge Name: euro.gif Size: 24 KB
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  • #1,399
  • Jan 15, 2009 1:32am Jan 15, 2009 1:32am
Look at this Confl. of .786 Ret. 1.5 FE and the trend line
Attached Image (click to enlarge)
Click to Enlarge Name: euro.gif Size: 21 KB
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  • #1,400
  • Jan 15, 2009 2:15am Jan 15, 2009 2:15am
That's bullish garley and it further confirms the strength of crown formation process on daily time frame.

sam, good work man!
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