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My Fibonacci trading system

  • #101
  • Dec 22, 2009 4:46pm Dec 22, 2009 4:46pm
Quoting wjqblog
no no no

my system is 61.8 entry short

exit at swing lowest.



i am follow trend.

but you anti trend.
Only for info, read it...
Fibonacci System without G7-USD Indicator
  • #102
  • Dec 22, 2009 7:09pm Dec 22, 2009 7:09pm
wjqblog or anyone, is this right for GBPCAD, Dec. 22nd, 2009?

1. I see CAD is strong, GBP is weak. Draw a vertical line.
2. Draw a Fibo
3. Price resists around Fibo 38.2
4. Draw another Fibo
5. Short @ Fibo (38.2) - 1.6940
6. Exit @ Fibo (100) - 1.6899.

Profit is 41 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad12222009b.gif Size: 26 KB
  • #103
  • Dec 22, 2009 8:02pm Dec 22, 2009 8:02pm
Quoting banzai
wjqblog or anyone, is this right for GBPCAD, Dec. 22nd, 2009?

1. I see CAD is strong, GBP is weak. Draw a vertical line.
2. Draw a Fibo
3. Price resists around Fibo 38.2
4. Draw another Fibo
5. Short @ Fibo (38.2) - 1.6940
6. Exit @ Fibo (100) - 1.6899.

Profit is 41 pips.

not allright
1.yes
2.yes.
3.yes
4.wrong..look example 1234 fibonicci expansion tools(not retracement).it tell you target
5.wrong.entry 1.6960 stop loss 1.6980(50% fibonacci retracement)
6.wrong.Because you don't use fibonicci expansion.
if you use .you will know

if feihong online.
you can ask he.
I think he explanion the system better than me.
My english Bad.Sorry
  • #104
  • Dec 22, 2009 8:25pm Dec 22, 2009 8:25pm
in china afternoon

eur/usd retracement ..

yesterday

I short eur/usd close at 1.4235
becasue it's a uptrend 61.8 retracement


now.I entry again.
Yesterday eur/usd create lowest.

So I think retracemnt at uptrend fibonocci explansion 61.8% finish

so I entry again.

Attached Image (click to enlarge)
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  • #105
  • Dec 22, 2009 10:41pm Dec 22, 2009 10:41pm
Quoting wjqblog
find 13th thread
Hi Wjq, I input the ever, paameter and aloso show all data... however still astraight line. Need your help. Thanks
Attached Image (click to enlarge)
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  • #106
  • Dec 22, 2009 10:43pm Dec 22, 2009 10:43pm
Hi FeiHong, u r online right now. can u help me with regard to this issue? Thanks
  • #107
  • Dec 22, 2009 11:01pm Dec 22, 2009 11:01pm
Quoting freedomsg
Hi Wjq, I input the ever, paameter and aloso show all data... however still astraight line. Need your help. Thanks
Try North Finance or FXDD broker. You're using Interbank.
  • #108
  • Dec 22, 2009 11:05pm Dec 22, 2009 11:05pm
Quoting freedomsg
Hi FeiHong, u r online right now. can u help me with regard to this issue? Thanks
I think your platform is not compatible with this indicator. There is a lower 'm' in the symbols such as GBPUSDm.
  • #109
  • Dec 22, 2009 11:12pm Dec 22, 2009 11:12pm
Thank You Bonzai and FeiHong. I will try again.
  • #110
  • Dec 22, 2009 11:14pm Dec 22, 2009 11:14pm
pairs name gbpusd"m"
  • #111
  • Edited 1:33am Dec 23, 2009 12:57am | Edited 1:33am
Hi wjq
I like your system very much, below is a step by step guide that I think is correct, if not please advise.

1.using G7 indicator identify 1 strong and 1 weak currency, bring up the relvent chart
2.Draw vertical line
3.Draw Fib Retracement from nearest swing point (Hi/Lo )
4.Ensure that the trend is established, must be 70 plus pips
5.Wait for retracement
6.When resistance is seen at 38.2 or better 61.8 make your entry IN THE DIRECTION OF THE TREND
7.Refer to Stochastic, if overbought/sold risk 1.5%-2%. if not then risk is 0.5%-1%
8.Place SL at next Fib level
9.Draw Fib EXTENSION for profit targets
10,First profit target FE 61.8 secong profit target 100
" When the ship starts to sink, don't just pray. JUMP "
  • #112
  • Dec 23, 2009 1:26am Dec 23, 2009 1:26am
Quoting Gladis Night
Hi wjq
I like your system very much, below is a step by step guide that I think is correct, if not please advise.

1.using G7 indicator identify 1 strong and 1 weak currency, bring up the relvent chart
2.Draw vertical line
3.Draw Fib Retracement from nearest swing point (Hi/Lo )
4.Ensure that the trend is established, must be 70 plus pips
5.Wait for retracement
6.When resistance is seen at 38.2 or better 61.8 make your entry IN THE DIRECTION OF THE TREND
7.Place SL at next Fib level
8.Draw Fib EXTENSION for profit targets
9,First profit target...
Nice. Care to add in how and when to use MACD and Stochs?

Thanks/Harry
  • #113
  • Dec 23, 2009 1:33am Dec 23, 2009 1:33am
hi harry

thanx I forgot that
" When the ship starts to sink, don't just pray. JUMP "
  • #114
  • Dec 23, 2009 1:48am Dec 23, 2009 1:48am
Hello wjqbog

Thanks for the G7 trading method.
Look very interesting.

Can I use it to trade H4 and D (because my high commitment in work then family)?

Sorry I am slow. I need your clarification on the colors?

Please see the chart to show the G7 colors.
I got 8 colors from "0" to "7."

From your explanation in post no. 1, are the following correct?

0 Aqua ... ?
1 Blue ... GBP
2 Yellow ... AUD
3 Green ... CAD
4 Medium Orchid ... ?
5 Red ... JPY
6 White ... USD
7 Black ... ?

I do not find "pale"?
I think I miss the "EUR"?

Pls. advise and thank you.
Attached Images
  • #115
  • Dec 23, 2009 1:52am Dec 23, 2009 1:52am
wqxblog,

can send me your msn email? so i can add u..

ha.....
Today's You was Your previously Thought.
  • #116
  • Dec 23, 2009 1:56am Dec 23, 2009 1:56am
Hi pj
EUR is Aqua
CHF is medium orchid

put cursor on line will tell you
" When the ship starts to sink, don't just pray. JUMP "
  • #117
  • Dec 23, 2009 2:22am Dec 23, 2009 2:22am
Quoting Feihong
I will try to answer your question.

According to wjq, when fibo levels act as resistance, the reverse bar is the one which its high is lower than the previous bar's high. If fibo levels act as support, the reverse bar is the one which its low is higher than the previous bar's low.

The entry bar is the one after the reverse bar.

I got these from page 1.
Thanx for clarification.

If we wait for revere bar & Lower high than Previous bar high so do u think we will get the exact value of 61.8. I mean if we wait for the reversal candle to close then next candle will make lower high again in reversal direction and if we place our entry exactly on fibo values then we can miss it. so do u think it is okay if we place our entry below / above 10 pips of fibo value?
  • #118
  • Dec 23, 2009 2:26am Dec 23, 2009 2:26am
G7-USD Fibonacci AUDUSD Trade M15
eTrader,
Attached Image (click to enlarge)
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  • #119
  • Dec 23, 2009 2:29am Dec 23, 2009 2:29am
Quoting Gladis Night
Hi pj
EUR is Aqua
CHF is medium orchid

put cursor on line will tell you
Hello,

What color for Gold or no color defined for Gold ?
The last black color doesn't do anything...
eTrader,
  • #120
  • Dec 23, 2009 2:30am Dec 23, 2009 2:30am
Quoting eTrader
G7-USD Fibonacci AUDUSD Trade M15
eTrader,
Very nice
" When the ship starts to sink, don't just pray. JUMP "
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