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Powerful Fib Based System - by DAZfx

  • #1,921
  • Apr 28, 2010 10:19am Apr 28, 2010 10:19am
Quoting Pip26
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
Working well so far, don't forget lock in profits.
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #1,922
  • Apr 28, 2010 10:37am Apr 28, 2010 10:37am
Quoting JhonMonsalve
Working well so far, don't forget lock in profits.
yeah i will keep an sharp eye on it..

GooD LuCk for your trade also....
  • #1,923
  • Apr 28, 2010 11:35am Apr 28, 2010 11:35am
Quoting Pip26
yeah i will keep an sharp eye on it..

GooD LuCk for your trade also....

Wow the thread is getting lively, I hope your trades hit targets guys. I also entered a position short on the GBP CHF about 20 mins ago on the 1h. It is countertrend to the recent uptrend on the daily but recent price action suggests to me the rally is out of puff. Still I might get slapped in the face in the next few hours. . . . I risked less for this reason.

Here is the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHF.jpg Size: 105 KB
Nil desperandum
  • #1,924
  • Apr 29, 2010 12:55am Apr 29, 2010 12:55am
This one worked out pretty well for you vincent
  • #1,925
  • Apr 29, 2010 1:02am Apr 29, 2010 1:02am
Quoting vincentprice
Wow the thread is getting lively, I hope your trades hit targets guys. I also entered a position short on the GBP CHF about 20 mins ago on the 1h. It is countertrend to the recent uptrend on the daily but recent price action suggests to me the rally is out of puff. Still I might get slapped in the face in the next few hours. . . . I risked less for this reason.

Here is the chart.

Yes VP after your some explaination, i m learning this method.

VP i asked about an indicator some posts back please check it and tell me is it usefull or not?

Good luck for your trade
  • #1,926
  • Apr 29, 2010 2:28am Apr 29, 2010 2:28am
my greatest challenge with this method is deteming the actual trend on thd daily chart. am slowly begining to grab it now. many thanks to all contributors. especially the thread starter- dazfx
it is better to miss than to loss pips
  • #1,927
  • Apr 29, 2010 5:16am Apr 29, 2010 5:16am
Quoting vincentprice
Wow the thread is getting lively, I hope your trades hit targets guys. I also entered a position short on the GBP CHF about 20 mins ago on the 1h. It is countertrend to the recent uptrend on the daily but recent price action suggests to me the rally is out of puff. Still I might get slapped in the face in the next few hours. . . . I risked less for this reason.

Here is the chart.
Hey VP, hope you were lock in profits on that one , keep it up here!
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #1,928
  • Apr 29, 2010 5:17am Apr 29, 2010 5:17am
Quoting Pip26
yeah i will keep an sharp eye on it..

GooD LuCk for your trade also....
Hey Pip, so far so good, always remember lock profits, first TP hit @1.4375, let's see how it goes!
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #1,929
  • Apr 29, 2010 5:21am Apr 29, 2010 5:21am
Quoting JhonMonsalve
Nice setup on Dragon, careful with this volatile pair.

Attachment
First TP hit, careful above that level or 144, 145 is a possibility too! Stoch has more room to go up! like I said before, 4h & daily work pretty well for this system

Attached Image (click to enlarge)
Click to Enlarge Name: gj4h.gif Size: 19 KB
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #1,930
  • Apr 29, 2010 5:40am Apr 29, 2010 5:40am
Quoting JhonMonsalve
First TP hit, careful above that level or 144, 145 is a possibility too! Stoch has more room to go up! like I said before, 4h & daily work pretty well for this system

Attachment
Yeah Jhon i m +100 now and hopeing for FE50.0...

Thanx a lot for your guideline.

I tried Eur/Jpy on H1 so it is negative till now just got saved my stop loss by 1 pip

Hope to learn more from this thread senior members.
  • #1,931
  • Apr 29, 2010 9:21am Apr 29, 2010 9:21am
Quoting Pip26
Yeah Jhon i m +100 now and hopeing for FE50.0...

Thanx a lot for your guideline.

I tried Eur/Jpy on H1 so it is negative till now just got saved my stop loss by 1 pip

Hope to learn more from this thread senior members.
Great to hear that Pip, now, second target in the scope...
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #1,932
  • Apr 29, 2010 9:43am Apr 29, 2010 9:43am
Quoting JhonMonsalve
Great to hear that Pip, now, second target in the scope...
I have closed my half lot JhoneMonsalve and on other locked 100 pips and target for 2nd TP....

  • #1,933
  • Apr 29, 2010 10:26am Apr 29, 2010 10:26am
Quoting Pip26
I have closed my half lot JhoneMonsalve and on other locked 100 pips and target for 2nd TP....

Wow, 100pips and still moving thats great. Sorry I did not reply earlier Pip, I have just crossed the border into Bolivia and they dont seem to have heard of wi fi here lol. Will reply about the indicator properly a bit later. Also noticed after a sneaky look at the charts cable 4h is looking interesting and may lead to a sell in a few hours, worth keeping an eye on.
Nil desperandum
  • #1,934
  • Apr 29, 2010 10:32am Apr 29, 2010 10:32am
Quoting vincentprice
Wow, 100pips and still moving thats great. Sorry I did not reply earlier Pip, I have just crossed the border into Bolivia and they dont seem to have heard of wi fi here lol. Will reply about the indicator properly a bit later. Also noticed after a sneaky look at the charts cable 4h is looking interesting and may lead to a sell in a few hours, worth keeping an eye on.

Yes i m watching it VP, on my chart it is 61.8+MTF line so should be strong resistence their. hopefully good for tomorrow....
  • #1,935
  • Apr 29, 2010 12:53pm Apr 29, 2010 12:53pm
Quoting Pip26
Yes i m watching it VP, on my chart it is 61.8+MTF line so should be strong resistence their. hopefully good for tomorrow....
After taking another look I have decided to take cable off my radar until next week now for a few reasons . One being that there are only 7 4h candles left till end of week and the pair has had a nasty habit of gapping over the weekend!
Nil desperandum
  • #1,936
  • Apr 29, 2010 10:41pm Apr 29, 2010 10:41pm
Quoting vincentprice
After taking another look I have decided to take cable off my radar until next week now for a few reasons . One being that there are only 7 4h candles left till end of week and the pair has had a nasty habit of gapping over the weekend!

Hello VP,

can you briefly explain this thing?
  • #1,937
  • Apr 30, 2010 12:53am Apr 30, 2010 12:53am
Hello,

VP & JhonMosalve,

Look at this EJ H4 Chart, I think it is realy hard for EJ to break above Trendline if this H4 candle close below it it can be reversed.

What you think guys?
Attached Image (click to enlarge)
Click to Enlarge Name: ejh4.gif Size: 17 KB
  • #1,938
  • Edited 1:34am Apr 30, 2010 1:31am | Edited 1:34am
Quote
Hello,

VP & JhonMosalve,

Look at this EJ H4 Chart, I think it is realy hard for EJ to break above Trendline if this H4 candle close below it it can be reversed.

What you think guys?
I have been reading the thread and am very impressed with the contributions most especially by Jhon and VP.

Let me cut in here before i give my insight to ur question. this system looks to trade a a daily trendy pair off 1hr TF as intra-day and 4hr as swing. trader's job is to look for a trendy pair on daily first and start trading in that trend on lower time frame

I will advice newbie to stay away from difficult pairs as it will lead to large drawdown. this system is one of the best on FF but it requires skills and experience to trade-in daily.

now to eurjpy:
Longtterm is bearish but presently there is strong contention between bear and bull, price is kinda consolidating on daily .
this pair is not good for this system now, it will take experienced trader who understand price action to trade eurjpy with this system with success with the on-going scenario on daily.

Note of warning again: i saw GCHF that VP took, though he admitted it was a counter trend, ofcourse it was but he was able to be smart enough to know when to bail out....... newbie, dont dare this approach, u will blow your acct.

My advice is look for trendy pairs. at times, u might not get a single trade using this system for weeks but u wont go broke trading it consistently.....
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 27 KB
  • #1,939
  • Apr 30, 2010 5:44am Apr 30, 2010 5:44am
Quoting Pip26
I have closed my half lot JhoneMonsalve and on other locked 100 pips and target for 2nd TP....

I closed other at +253.

Thanx to JhonmonSalve and VP
  • #1,940
  • Apr 30, 2010 6:16am Apr 30, 2010 6:16am
Quoting Pip26
I closed other at +253.

Thanx to JhonmonSalve and VP
Great to hear that Pip, congrats, enjoy your greens, keeping a cool head, this thing is pointing to 150, I'm serious, candlestick pattern on monthly charts is telling me that, so, try to lock profits and let it run!

Happy weekend!

Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
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