Powerful Fib Based System - by DAZfx | Page 84 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Spud's MTF FIB Breakout System 383 replies

Fib/trendlinebreak entry exit system 4 replies

LFB System - London Fib Breakout 45 replies

Target Yearly 30-40% - Fib-Ox System Journal! 17 replies

Resurrected Powerful Dazfx AMG wave 20 replies

Attachments: Powerful Fib Based System - by DAZfx
Exit Attachments

Powerful Fib Based System - by DAZfx

  • #1,661
  • Jun 25, 2009 3:55am Jun 25, 2009 3:55am
Situation with AUD looks little better. On weekly AUDLFX it's consolidation starting with bearish hanging man and we will see tomorrow what will happen with this week's candle. But we see that bears has managed to create new low.

On daily we see that price has managed to create two lower lows and one lower high, so it all depends on where the price will go from where it is now - trendline and 78.6 fib retracement level. If it goes down, there is still hope for my AUDUSD trade.

But it may also failed to create new lower low and join USD, GBP and EUR camp. So be careful.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audlfxweekly.gif Size: 19 KB
Click to Enlarge Name: audlfxh4.gif Size: 23 KB
  • #1,662
  • Jun 25, 2009 4:00am Jun 25, 2009 4:00am
JPY is the only one following S&P lead and CAD has been in strong downtrend, but both are now in daily consolidation, so I will be waiting a bit to see what will come out of this.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: lfxjpy.gif Size: 18 KB
Click to Enlarge Name: cadlfx.gif Size: 18 KB
  • #1,663
  • Jun 25, 2009 4:07am Jun 25, 2009 4:07am
Generally what I am trying to do in consolidation like this is to watch indexes on daily or H4 for candlestick formations giving me reversal signals, and then trying to trade pairs of currencies going in opposite directions (or one having direction and other one consolidating). I am taking either daz setups or bounces from S/R levels, with candlesticks giving me hints about directions. It's tricky, still learing, but getting there. Consolidations happen quite often, so I guess it's useful to learn how to trade through them without getting wiped out.
  • #1,664
  • Jun 25, 2009 6:25am Jun 25, 2009 6:25am
Hutchy, this is the reason I am holding onto that GBPJPY trade. Given bearish daily pattern I am willing to take some risk in order to give this trade a chance. Patience is a key and I already accepted possible loss when opening this trade, so I am not going to second guess myself.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpydaily.gif Size: 20 KB
  • #1,665
  • Jun 25, 2009 8:05am Jun 25, 2009 8:05am
Yesterday we agreed with baggermatsch, that daz setup on EURUSD is not good for entry because of unclear direction of EURUSD. Today the candlestick pattern is falling three methods, high reliability bearish pattern. Also hourly close was one pip bellow 1.3900, which may be another signal for down. So I am afraid no daz entry here.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 23 KB
  • #1,666
  • Jun 25, 2009 8:28am Jun 25, 2009 8:28am
Watch out for potential daz entry on hourly USDCAD. Ignore my breakout entry.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 21 KB
  • #1,667
  • Jun 30, 2009 5:11am Jun 30, 2009 5:11am
My entry:

1. A support turned to resistance.
2. BE candle
3. bounce on a a trend line.
Attached Image (click to enlarge)
Click to Enlarge Name: cc.gif Size: 31 KB
  • #1,668
  • Jun 30, 2009 5:13am Jun 30, 2009 5:13am
I entered based on 15min.
that's why the entry was earlier.
as seen in the post.
  • #1,669
  • Jun 30, 2009 6:07am Jun 30, 2009 6:07am
Nice one

I am trading only candlestick patterns on more exotic pairs this week, because I am sick of that ranging market ... so I am missing daz setups, because I am cherrypicking only best candlestick setups on more trending pairs.

But cad pairs are moving with falling cad, I have made some good money yesterday on GBPCAD.

Be patient with this trade, because 1.6250 may get retested, but up is pretty safe direction.

Looks like drawing trendlines is pretty subjective, here is how I would have drawn them.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.gif Size: 41 KB
  • #1,670
  • Jul 2, 2009 5:39am Jul 2, 2009 5:39am
Looks like potential setup in making on EURUSD.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 58 KB
  • #1,671
  • Jul 9, 2009 1:34am Jul 9, 2009 1:34am
Where's everyone here?
God's Love For You Is Sure Never You Doubt It
  • #1,672
  • Jul 22, 2009 12:05pm Jul 22, 2009 12:05pm
Does anyone know if DazFX is still around this thread?
I heard he may have setup his own website, anyone know where it is?

Thanks
  • #1,673
  • Jul 24, 2009 7:12pm Jul 24, 2009 7:12pm
Quote
Does anyone know if DazFX is still around this thread?
I heard he may have setup his own website, anyone know where it is?

Thanks

well, he still comes around without posting. FF showed that he last visited 44hrs ago. I think he should either continue from where he stopped or close the thread.



dont worry, just go through his posts, u will have basic understanding about it and if u have any question, be free to post and it will surely be attended to

Mike
  • #1,674
  • Aug 18, 2009 8:38pm Aug 18, 2009 8:38pm
possible trade setting up on GY
Attached Image (click to enlarge)
Click to Enlarge Name: gy.gif Size: 24 KB
  • #1,675
  • Aug 18, 2009 9:16pm Aug 18, 2009 9:16pm
  •  Nimrod
  • | Joined Oct 2008 | Status: Energy and persistence conquer all | 168 Posts
Quoting Naijafx
possible trade setting up on GY
I m stalking this too Mike.
Good Work.
Thanks
  • #1,676
  • Aug 19, 2009 9:39am Aug 19, 2009 9:39am
Good call!

http://tinypic.com/r/5l1dts/3


Tgt 1 hit, stop moved to break even
  • #1,677
  • Aug 23, 2009 10:46am Aug 23, 2009 10:46am
Quote
Good call!

http://tinypic.com/r/5l1dts/3


Tgt 1 hit, stop moved to break even
Good call!

http://tinypic.com/r/5l1dts/3



stop fried at break-even
  • #1,678
  • Aug 29, 2009 5:13am Aug 29, 2009 5:13am
hi all!
what happend to this thread?
this metod dos not working anymore?
  • #1,679
  • Aug 30, 2009 1:23pm Aug 30, 2009 1:23pm
Quote
hi all!
what happend to this thread?
this metod dos not working anymore?

This is system rocks anytime but i will say its not foe newbies. ability to identify impulsive and corrective waves is very key to the success of the method. you can see the last call i made, gave over 200pips...... the system rocks anytime, and am sorry, i dont think i have time to teach coz am more dedicated to trading.

the thread have all the answers to every imaginable questions. will still do some posting once in a while.
  • #1,680
  • Aug 31, 2009 3:02am Aug 31, 2009 3:02am
Quoting Naijafx
This is system rocks anytime but i will say its not foe newbies. ability to identify impulsive and corrective waves is very key to the success of the method. you can see the last call i made, gave over 200pips...... the system rocks anytime, and am sorry, i dont think i have time to teach coz am more dedicated to trading.

the thread have all the answers to every imaginable questions. will still do some posting once in a while.


thanks!
2 traders viewing now