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Powerful Fib Based System - by DAZfx

  • #1,901
  • Apr 23, 2010 1:56pm Apr 23, 2010 1:56pm
Quoting vincentprice
Hi, the 62% T2 target was hit (86.17 including the spread) and then Iwas out of the trade. I never had my normal full position size on this trade because after price triggered I opened one position but then price never touched the 5sma allowing me to open another 2 positions. So I just set the target for my single position at the 62% fib - the spread. Luckily it was hit with 2 pips to spare before the reversal!!
haha Nice anyone trade anything today? so us Newbies can learn?

Greetings, BeLikewater
  • #1,902
  • Apr 25, 2010 5:20pm Apr 25, 2010 5:20pm
I notice that Vincent has produced alot of valid setups here, awesome. Sometime the simple way to trade is just using this DAz. I have not been looking at this have missed some actions. I am missing the early days of the thread, sometimes the easy trades are in here instead of trying to get the harder ones.

thanks
  • #1,903
  • Apr 26, 2010 10:24pm Apr 26, 2010 10:24pm
Evening (or morning) depending on where you are.

Here is a trade on the AZD NZD I just entered on the 1h chart. The 1.82 level has been tested on the 1h chart four times now, the question is will it hold? Next strong support is at 1.27.

Pair is in an up channel on the daily and looks as if it has some more to drop.
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Nil desperandum
  • #1,904
  • Apr 27, 2010 2:44am Apr 27, 2010 2:44am
Hi all,

I had entered 2 trades few hours ago
NZDUSD H1 long (Daily bullish)
EURGBP H1 short (Daily bearish)
Both trade hit my stop loss
Can you all tell me my problem?
Thank you very much

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  • #1,905
  • Edited 11:09am Apr 27, 2010 10:59am | Edited 11:09am
Quoting stl
Hi all,


EURGBP H1 short (Daily bearish)
Both trade hit my stop loss
Can you all tell me my problem?
Thank you very much
Morning stl, hows it going. I was looking at your EUR GBP trade which shows the daily in a nice down channel but noticed a couple of things that would have made me more cautious about taking the setup.

1. The 0.8650 price level on the daily has acted as strong support/resis
2. Price had just bounced off the lower channel line.
3. Price failed to make a new swing low on the 1h chart.
4. On the hourly setup there are about 20 candles in the AB wave. Moving up to the 4 hour time frame, right now it can be seen a Daz setup is just about to setup again, after price bounced off the 78% level with 7 candles in the AB wave which looks more ideal. Although personally I would not take the 4h setup because of the reasons above.

I took a setup yesterday on the AZD NZD that traded into a support level also, the level held and price bouced off the precise level, resulting in one position being filled at 50% and the other was stopped out.

good luck out there and lets make some pips

VP
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Nil desperandum
  • #1,906
  • Apr 28, 2010 2:39am Apr 28, 2010 2:39am
Aud/usd H1 Trede entry
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  • #1,907
  • Apr 28, 2010 3:55am Apr 28, 2010 3:55am
Quote
Aud/usd H1 Trede entry

u got the best setup of the day!
  • #1,908
  • Apr 28, 2010 4:39am Apr 28, 2010 4:39am
Quoting Pip26
Aud/usd H1 Trede entry
I target FE61.8 only and got it...

Stop loss was 38 pips and profit is 48 pips. not bad for london session.
  • #1,909
  • Apr 28, 2010 8:06am Apr 28, 2010 8:06am
Quoting Pip26
I target FE61.8 only and got it...

Stop loss was 38 pips and profit is 48 pips. not bad for london session.

Nice trade Pip , alas I was fast asleep at the time and missed all the action.
Nil desperandum
  • #1,910
  • Apr 28, 2010 8:20am Apr 28, 2010 8:20am
Nice setup on Dragon, careful with this volatile pair.

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"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #1,911
  • Apr 28, 2010 8:49am Apr 28, 2010 8:49am
Quoting vincentprice
Nice trade Pip , alas I was fast asleep at the time and missed all the action.
VP what time frame is better for this method H1 or H4?
Can i use this indicator for following trend direction.
Attached File(s)
File Type: mq4 #MTF_MovingAverage.mq4   4 KB | 414 downloads
  • #1,912
  • Apr 28, 2010 9:14am Apr 28, 2010 9:14am
Should i take this entry????
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  • #1,913
  • Apr 28, 2010 9:15am Apr 28, 2010 9:15am
Quoting Pip26
VP what time frame is better for this method H1 or H4?
Can i use this indicator for following trend direction.
I use this method in 4h TF mostly, but depends of your MM, I mean, if you're an intraday trader, 40 - 60 pips SL is ok [1h], but you'll be more expose to whipsaws, if you like use stops of 100 or 120, with profits from 100 - 300 pips, 4h & daily TF's is the way to go!
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #1,914
  • Apr 28, 2010 9:27am Apr 28, 2010 9:27am
Quoting JhonMonsalve
I use this method in 4h TF mostly, but depends of your MM, I mean, if you're an intraday trader, 40 - 60 pips SL is ok [1h], but you'll be more expose to whipsaws, if you like use stops of 100 or 120, with profits from 100 - 300 pips, 4h & daily TF's is the way to go!

Thnx JhonMonsalve really usefull for me...

But on H1 can i got against H4 trend. like now on Gbp/Jpy H4 is supporting buy and on H1 having swing for sell....
  • #1,915
  • Apr 28, 2010 9:31am Apr 28, 2010 9:31am
Quoting Pip26
Thnx JhonMonsalve really usefull for me...

But on H1 can i got against H4 trend. like now on Gbp/Jpy H4 is supporting buy and on H1 having swing for sell....
Be careful on 1h, after that 4h bullish engulf candle, I don't dare to short, not now, for bearish continuation in Dragon, 141.5 has to be cleared first, besides, check your 4h stoch, is bouncing from bearish to bullish [confirms the up move].
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #1,916
  • Apr 28, 2010 9:44am Apr 28, 2010 9:44am
Quoting JhonMonsalve
Be careful on 1h, after that 4h bullish engulf candle, I don't dare to short, not now, for bearish continuation in Dragon, 141.5 has to be cleared first, besides, check your 4h stoch, is bouncing from bearish to bullish [confirms the up move].

Yeah i will be carefull, i just got some guideline from you and follow now H4 setup to enter..

can you see some posts back i posted a MTF indicator can i use it for following trend. it is also giving me buy signal for Dragon now.

Thanx a lot
  • #1,917
  • Apr 28, 2010 10:45am Apr 28, 2010 10:45am
Quoting Pip26
Yeah i will be carefull, i just got some guideline from you and follow now H4 setup to enter..

can you see some posts back i posted a MTF indicator can i use it for following trend. it is also giving me buy signal for Dragon now.

Thanx a lot
I told you, Dragon moves fast , let's see if 5 Sma holds for now.
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #1,918
  • Apr 28, 2010 10:55am Apr 28, 2010 10:55am
i took this trade on retracement of 5 SMA 124.00 overall in profit but tell me was that good entry?
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  • #1,919
  • Apr 28, 2010 10:57am Apr 28, 2010 10:57am
Quoting Pip26
i took this trade on retracement of 5 SMA 124.00 overall in profit but tell me was that good entry?
Absolutely agree, quick profits on that, on Dragon, 5 Sma is holding...
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #1,920
  • Apr 28, 2010 11:09am Apr 28, 2010 11:09am
Quoting JhonMonsalve
Absolutely agree, quick profits on that, on Dragon, 5 Sma is holding...
I was just confused about the entry becoz of bearish long candle..... I took Dragon from 5 SMA let's see where it goes FE 61.8 is +145.00
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