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Powerful Fib Based System - by DAZfx

  • #1,561
  • Jun 17, 2009 11:39pm Jun 17, 2009 11:39pm
  •  Nimrod
  • | Joined Oct 2008 | Status: Energy and persistence conquer all | 168 Posts
Hi Guys,
I was wondering if we can post charts with white background? It goes easy on the ink.I love to print these charts sample.
Attached here are 2 trades on UJ and EJ at different TFs.

Have a wonderful PIP day.
Cheers
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EJ.jpg Size: 75 KB
Click to Enlarge Name: evening star.jpg Size: 80 KB
  • #1,562
  • Jun 18, 2009 12:11am Jun 18, 2009 12:11am
Quote
Hi Guys,
I was wondering if we can post charts with white background? It goes easy on the ink.I love to print these charts sample.
Attached here are 2 trades on UJ and EJ at different TFs.

Have a wonderful PIP day.
Cheers

wot trades are u refering to here sir?
  • #1,563
  • Jun 18, 2009 5:43am Jun 18, 2009 5:43am
Quoting soyabean
Hi sorry for the late reply, I see a bearish engulfing entry on the 4H chart. Looks good for a run south.

AND WHAT A RUN SOUTH IT WAS
  • #1,564
  • Jun 18, 2009 9:35pm Jun 18, 2009 9:35pm
  •  Nimrod
  • | Joined Oct 2008 | Status: Energy and persistence conquer all | 168 Posts
Quoting Naijafx
wot trades are u referring to here sir?
Hi Mike,
These were the trade i took using smaller TF.The first chart was the Euro/Yen 30min TF and the second chart was the usd/yen,15min TF.Both trade was profitable and got out once my profit target was fulfilled.

My profit target is in the range of 20 to 30 pips a day per currency.Compounding 3% will make you smile all the way to the bank.
  • #1,565
  • Edited 6:46am Jun 19, 2009 1:18am | Edited 6:46am
Hi comrades, is there a chat room still running for this thread. I would like to join a larger set of eyes.
Thanks

Hi Nimrod, how are you finding trading on the lower Time Frames with this method?
  • #1,566
  • Jun 19, 2009 7:19am Jun 19, 2009 7:19am
Howdy folks,
I have been testing this method for few days and it looks very good. It's very similar to what I am trading, except less discretionary (I am trading fibs based setups on higher timeframes but using japanese candlestick analysis instead of stochastic oscillator). Using candlestick formation on 4H a daily timeframes to determine the daily trend and trading this method into the trend may be excellent combo. Looking forward to more testing and pips Looks like Daz is not around anymore, but thanks anyway.

Today I took long trade on USDCHF (2 TPs hit, one BE) and short on USDMXN (2 TPs hit, one more to go).

I see possible setups forming on EURGBP, GBPJPY and maybe AUDUSD.
Attached Image (click to enlarge)
Click to Enlarge Name: usdmxn.gif Size: 21 KB
  • #1,567
  • Jun 19, 2009 7:29am Jun 19, 2009 7:29am
Alright, third TP was taken out too. That was fast. It's propably going to form lower low and will be good for another setup if it retraces to correct fib level. But it's Friday, so ... have a nice weekend.
  • #1,568
  • Jun 19, 2009 10:43am Jun 19, 2009 10:43am
Hi guys,

Just stumbled across this thread and the method looks extremely interesting. The problem I have is im very inexperienced on MT4 and im not sure how to work out the extensions.

I can add the standard Fib retracements easily enough, but when I use the fib expansion tool on MT4 and draw a line from the swing high to the swing low or vice versa (point A to point B), the line that bounces off of this point doesnt reach the point "C" on the chart, as it appears to in the screenshots other people are showing.

I am assuming I am doing it right by plotting the fib extension from point A to point B, or should you move it around until the diagonal line that bounces off is at point C?

Hope this makes sense but its difficult to explain.
  • #1,569
  • Jun 19, 2009 11:12am Jun 19, 2009 11:12am
Doubleclick the dotted line of FE tool and you will get handles on all three ends. Then you can drag the C point to the right place.
  • #1,570
  • Jun 19, 2009 11:31am Jun 19, 2009 11:31am
Thanks very much, thats perfect. Thought it would be something simple like that!
  • #1,571
  • Jun 19, 2009 8:04pm Jun 19, 2009 8:04pm
it pleases me that this thread is still alive and kicking
plz, keep posting
Mike
  • #1,572
  • Jun 19, 2009 10:43pm Jun 19, 2009 10:43pm
  •  Nimrod
  • | Joined Oct 2008 | Status: Energy and persistence conquer all | 168 Posts
Quoting Porkpie
Hi comrades, is there a chat room still running for this thread. I would like to join a larger set of eyes.
Thanks

Hi Nimrod, how are you finding trading on the lower Time Frames with this method?
Hi Porkpie,

I have tried the chat room but never got thru.
Anyway, my main TF is the 4Hr.I do trade the lower TF but that is entirely up to our on discretion and if the condition is right and it met your Money management and risk appetite , then by all means.Lower TF tends to have quite a whipwash so hava a proper SL setting.

BTW I also use the ABCD method which is again discretionary.The lower TFs EJ and UJ I took previously were based on the ABCD and Daz's method.
  • #1,573
  • Jun 21, 2009 2:55am Jun 21, 2009 2:55am
Hi,
here is one setup for opening, unless you think that jumping the gun right after market opens is not such a good idea

Weekly shows that GBPJPY entered into consolidation, but daily still gives us uptrend, at least for a while.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy1h.gif Size: 22 KB
Click to Enlarge Name: gbpjpydaily.gif Size: 20 KB
Click to Enlarge Name: gbpjpyweekly.gif Size: 21 KB
  • #1,574
  • Jun 21, 2009 2:57am Jun 21, 2009 2:57am
Setup in making on USDMXN. Stoch has not crossed yet.
Attached Image (click to enlarge)
Click to Enlarge Name: usdmxn.gif Size: 21 KB
  • #1,575
  • Jun 21, 2009 3:07am Jun 21, 2009 3:07am
Another possible one if it retraces to correct fib level. USDJPY has been in downtrend last week and it still has some momentum towards down.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 21 KB
  • #1,576
  • Jun 21, 2009 4:56am Jun 21, 2009 4:56am
Quoting Naijafx
here are the indicators that spot divergence
Hi Naija,

Pls can you explain how to use these indicators.

Cheers,


Darryl

  • #1,577
  • Jun 21, 2009 9:29am Jun 21, 2009 9:29am
hi, it's already one and a half year....
Has anybody earned money using this method??? I do like this kind of strategies---price pattern.
  • #1,578
  • Jun 21, 2009 6:15pm Jun 21, 2009 6:15pm
Quoting bobowang
hi, it's already one and a half year....
Has anybody earned money using this method??? I do like this kind of strategies---price pattern.
nobody answers?
  • #1,579
  • Jun 21, 2009 8:47pm Jun 21, 2009 8:47pm
  •  Nimrod
  • | Joined Oct 2008 | Status: Energy and persistence conquer all | 168 Posts
Quoting bobowang
nobody answers?
This is no ordinary method.I bet you have tried many systems based on numerous indicators and skeptical about something that is so simple yet unbelievably effective.

Try it out.
  • #1,580
  • Edited 3:25am Jun 22, 2009 2:57am | Edited 3:25am
i am taking this setup (eurchf 4h now), is this ok? any comments? and is there any chatting room for this strategy?
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf h4.JPG Size: 57 KB
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