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Powerful Fib Based System - by DAZfx

  • #1,401
  • Jan 15, 2009 2:34am Jan 15, 2009 2:34am
Look at the euro outlook, looks like its gonna get bull but would be nice to clear off those bearish run.

I like your TA
Attached Image (click to enlarge)
Click to Enlarge Name: eu-outlook.gif Size: 16 KB
  • #1,402
  • Jan 15, 2009 3:35am Jan 15, 2009 3:35am
Quoting Naijafx
Look at the euro outlook, looks like its gonna get bull but would be nice to clear off those bearish run.

I like your TA
Hi Naija,

I have two questions for you re. EURUSD chart. I see the crown formation on daily and 1.31 is an important support area. When we see one of those bullish three CFs, I assume you'll go long based on how you trade Crowns. My questions are:

1- We spot the crown formation on daily, so isn't it safer to see bullish CFs on daily tf instead of 4hr? Since downtrend on EURUSD continues, CFs on 4hr tf may indicate a small retracement towards one of those two down TLs.

2- Considering downtrend still continues on EURUSD, how will you understand this bearish run is cleared off? Because if you wait for those two downtrend lines to be broken up, then isn't it too early to go long with crown formation (after getting confirmation by CFs)?

ps. actually it may be better to post this under ABCD thread, but since you have mentioned crown formation and posted 4hr chart with the same trendlines we use there, I thought I could post here. Sorry since this is not relevant with Daz thread.

Thanks
  • #1,403
  • Jan 15, 2009 4:36am Jan 15, 2009 4:36am
hello , i'm newbie in FF
and i have play demo around 2 months already

and i find out this system is simple and powerful

but may i know how u all detect the trend?

on daily chart?
  • #1,404
  • Jan 15, 2009 11:35am Jan 15, 2009 11:35am
Quoting samdani786
testing image posting
As i posted a few post ago, my target of 13080 has bin hit. From here , i think we might have to look for Daz setups going LONG
Attached Image (click to enlarge)
Click to Enlarge Name: euro.gif Size: 24 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #1,405
  • Jan 15, 2009 1:17pm Jan 15, 2009 1:17pm
Quoting Paul88
hello , i'm newbie in FF
and i have play demo around 2 months already

and i find out this system is simple and powerful

but may i know how u all detect the trend?

on daily chart?
hey paul - determining the trend is the hardest element of this strategy, when you get this right, everything else simply falls into place.

i personally do what Daz recommended - look at higher TF's. Daz recommended looking at least 2 TFs higher (so Daily if you trade the 1HR). And then simply looking at the way price is trending by looking for Higher Highs, Lower Lows etc

hope that helps
iffy
  • #1,406
  • Jan 15, 2009 7:59pm Jan 15, 2009 7:59pm
Quoting iffyfx
hey paul - determining the trend is the hardest element of this strategy, when you get this right, everything else simply falls into place.

i personally do what Daz recommended - look at higher TF's. Daz recommended looking at least 2 TFs higher (so Daily if you trade the 1HR). And then simply looking at the way price is trending by looking for Higher Highs, Lower Lows etc

hope that helps
iffy
hello , iffy
thank you so much

i'm gonna try it out on demo
  • #1,407
  • Jan 16, 2009 12:26am Jan 16, 2009 12:26am
Quoting Paul88
hello , i'm newbie in FF
and i have play demo around 2 months already

and i find out this system is simple and powerful

but may i know how u all detect the trend?

on daily chart?
That's where discretion comes into play. Defining trend on daily tf totally depends on the look-back period, IMO. As an example I am attaching current GBPUSD daily chart. Now, B-C period can be defined as uptrend if your look-back period strats from B. But if your look-back period starts from A, then B-C can be defined as a retracement of a downtrend. So it is really a subjective issue.
Attached Image
  • #1,408
  • Jan 16, 2009 1:55am Jan 16, 2009 1:55am
Quote
hello , i'm newbie in FF
and i have play demo around 2 months already

and i find out this system is simple and powerful

but may i know how u all detect the trend?

on daily chart?

For simplicity sake, you sell in 1hr time frame once the daily is making Lower low and Lower high and you buy 1hr time frame when daily is making higher high and higher low.

Look for pairs that is doing this and trade the pair.

you will alwayz get at least a trade per day
  • #1,409
  • Jan 16, 2009 4:07am Jan 16, 2009 4:07am
thank u all so much to help me

now i'm still reading whole thread page by page to learn

and thank u all much one more time
  • #1,410
  • Jan 21, 2009 7:49am Jan 21, 2009 7:49am
Just finished reading over the whole post. Wanted to thank everyone for the contributions. Have started backtesting for practice and been watching markets for signals to practice live trading. I am excited to trade along with you guys.
  • #1,411
  • Jan 21, 2009 10:38am Jan 21, 2009 10:38am
Quote
Just finished reading over the whole post. Wanted to thank everyone for the contributions. Have started backtesting for practice and been watching markets for signals to practice live trading. I am excited to trade along with you guys.
you are welcome
  • #1,412
  • Jan 21, 2009 12:31pm Jan 21, 2009 12:31pm
Hello Mike,

Just sent you a PM but forgot to ask, can you tell me how to get vhands. I have got a new computer and a fresh download of mt4 but cannot remember how to get vhands. You gave me all the details last time. Can you help again.

Thanks,

Pipmania
  • #1,413
  • Jan 21, 2009 2:37pm Jan 21, 2009 2:37pm
here you are anthony

http://www.forexfactory.com/showpost...&postcount=701

Hoping to meet you real soon
Mike
  • #1,414
  • Jan 26, 2009 9:40am Jan 26, 2009 9:40am
Just sent you a PM but forgot to ask, can you tell me how to get vhands. I have got a new computer and a fresh download of mt4 but cannot remember how to get vhands. You gave me all the details last time.


where is everyone ? Please keep posting your charts. Dont let this thread go quite
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #1,415
  • Jan 26, 2009 9:52am Jan 26, 2009 9:52am
Quoting samdani786
Just sent you a PM but forgot to ask, can you tell me how to get vhands. I have got a new computer and a fresh download of mt4 but cannot remember how to get vhands. You gave me all the details last time.


where is everyone ? Please keep posting your charts. Dont let this thread go quite

Why not just put the word vhands into the search box on top of this page?

Regards

Forex37
  • #1,416
  • Jan 26, 2009 10:07am Jan 26, 2009 10:07am
Quote
where is everyone ? Please keep posting your charts. Dont let this thread go quite

The thread can never die as it works, if anybody has any question, shd be free to ask and i will answer them.

soonest, the thread will witness another turn around.

the thread can never die!
  • #1,417
  • Jan 26, 2009 3:07pm Jan 26, 2009 3:07pm
Quoting Naijafx
the thread can never die!
Thats the spirit Bro. Daz and Dra are the two best system i found and need to learn more and more to master them.

Keep up the good work Bro.
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #1,418
  • Jan 27, 2009 12:25am Jan 27, 2009 12:25am
Hello Guys,

I found this set up in EU 4H. A possible set-up?

Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 18 KB


Thanks
  • #1,419
  • Jan 27, 2009 12:43am Jan 27, 2009 12:43am
Quoting hartnet
Hello Guys,

I found this set up in EU 4H. A possible set-up?

Attachment

Thanks
According to Daz, this system works best with 1H and thats what i use.
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #1,420
  • Jan 27, 2009 12:56am Jan 27, 2009 12:56am
Quoting samdani786
According to Daz, this system works best with 1H and thats what i use.
Thanks samdani,

Now this is quite interesting. I dropped down to 1h and clearly there is an impulse move. So we would have to wait for a retracement to 618/786 area for a possible set up. Guess what, the 618/786 ret in H1 would coincide with FE50/FE618 plotted on the 4H.

So my question is , is it really not possible to take the short as signalled in H4 as long as its fulfilled the rule of this strategy?

Take a look at this chart

Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 19 KB
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