Powerful Fib Based System - by DAZfx | Page 106 | 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

  • #2,101
  • May 28, 2010 8:10am May 28, 2010 8:10am
Quoting bee24
Do you find setups that only retrace to 50% fib, just as successful as the ones that retrace to 61,8 or 76,4 ? Taking into consideration that all other requirements are met (stoch in the right direction, confirmation bar, R:R ratio...)

Simple answer is yes. All other things being equal, for me a bounce off any of the 3 fib retracement levels is just as good. I do not trade off the 38% retracement as I find this level can be less reliable but that is just through my experience.
Nil desperandum
  • #2,102
  • May 28, 2010 8:22am May 28, 2010 8:22am
Morning to everyone,
I am looking at Eur/NZD and it has a perfect setup following the Daz method to the T. it is bouncing off the 61.8% on the 4 hr chart as I type. good luck to all as this seems to be a great opportunity to make some pips.
  • #2,103
  • May 28, 2010 8:25am May 28, 2010 8:25am
Quoting vincentprice
Simple answer is yes. All other things being equal, for me a bounce off any of the 3 fib retracement levels is just as good. I do not trade off the 38% retracement as I find this level can be less reliable but that is just through my experience.
Hello VP,

50.0 fib level acts as good as 61.8 / 78.6 but with daz method we need only 61.8 / 78.6.

But 50.0 can be use with other methods like S&R + trendline confluence etc....

How do you use it?
  • #2,104
  • May 28, 2010 11:46am May 28, 2010 11:46am
Quoting Pip26
Hello VP,

50.0 fib level acts as good as 61.8 / 78.6 but with daz method we need only 61.8 / 78.6.

But 50.0 can be use with other methods like S&R + trendline confluence etc....

How do you use it?

Hey guys , refer to this post on the thread and section surrounding it for more information on trading off the 50% Fib level, is part of the Daz method using a few additional rules.

Advanced entry rules are stated below

1. Pull back to 38 or 50 fibo area
2. confirmation candle formed at either of the fibo number
3. sma(5) to give u good entry
4. stoch has crossed as usual
5. hidden divergence seen on stoch(hidden divergence indicates trend continuation)


http://www.forexfactory.com/showthre...=75922&page=45
Nil desperandum
  • #2,105
  • May 28, 2010 11:54am May 28, 2010 11:54am
Quoting vincentprice
Hey guys , refer to this post on the thread and section surrounding it for more information on trading off the 50% Fib level, is part of the Daz method using a few additional rules.

Advanced entry rules are stated below

1. Pull back to 38 or 50 fibo area
2. confirmation candle formed at either of the fibo number
3. sma(5) to give u good entry
4. stoch has crossed as usual
5. hidden divergence seen on stoch(hidden divergence indicates trend continuation)


http://www.forexfactory.com/showthre...=75922&page=45
Thanx VP for this information.

What about profit targets for 38.2, 50.0 retracements??
  • #2,106
  • Jun 1, 2010 12:53am Jun 1, 2010 12:53am
Somebody correct me if I'm wrong, but I would imagine targets would be the same FE 50.0 as Target 1, FE 61.8 as Target 2 and FE 78.6 as Target 3.

Where is everybody anyway?

Come join us on Skype, find me under Brazool (from Slovenia).
  • #2,107
  • Jun 1, 2010 2:03am Jun 1, 2010 2:03am
After a long wait wait and wait i got some setups.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ejh4.gif Size: 14 KB
Click to Enlarge Name: gjh4.gif Size: 15 KB
Click to Enlarge Name: guh4.gif Size: 15 KB
  • #2,108
  • Jun 1, 2010 2:30am Jun 1, 2010 2:30am
Pip26, please post them sooner
  • #2,109
  • Jun 1, 2010 2:35am Jun 1, 2010 2:35am
Quoting bee24
Pip26, please post them sooner
Next time i will try my best to post it early.
  • #2,110
  • Edited 10:49am Jun 1, 2010 10:34am | Edited 10:49am
Quoting bee24
Somebody correct me if I'm wrong, but I would imagine targets would be the same FE 50.0 as Target 1, FE 61.8 as Target 2 and FE 78.6 as Target 3.

Where is everybody anyway?

Come join us on Skype, find me under Brazool (from Slovenia).
Yes same target rules apply off these fib levels too.
Nil desperandum
  • #2,111
  • Jun 1, 2010 11:29am Jun 1, 2010 11:29am
Hello VP,

What about your trading no setups yet???

thnx for answering
  • #2,112
  • Jun 1, 2010 11:36am Jun 1, 2010 11:36am
Quoting Pip26
After a long wait wait and wait i got some setups.
I Got profit targets on Eur/Jpy, Closed Gbp/Jpy on rejection of support, closed Gbp/Usd on bounce back of lower trendline.

Now watching Eur/Usd, Aud/usd, Usd/Jpy H4 setups.
  • #2,113
  • Jun 1, 2010 11:52pm Jun 1, 2010 11:52pm
Setup is getting ready...
Attached Image (click to enlarge)
Click to Enlarge Name: euh4.gif Size: 14 KB
  • #2,114
  • Jun 1, 2010 11:57pm Jun 1, 2010 11:57pm
Quoting Pip26
Setup is getting ready...
Morning Pipster, a late night stalker like me. Good luck with your trade, I am currently long EUR AUD 1h and short EUR CAD. EUR CAD 4h not looking so great now on 4h, my fault for taking a small early position.
Nil desperandum
  • #2,115
  • Jun 2, 2010 12:17am Jun 2, 2010 12:17am
Quoting vincentprice
Morning Pipster, a late night stalker like me. Good luck with your trade, I am currently long EUR AUD 1h and short EUR CAD. EUR CAD 4h not looking so great now on 4h, my fault for taking a small early position.
Hello VP,

Good Luck for your trades man....

Are you watching daily charts for GU, GJ???
  • #2,116
  • Edited 12:29am Jun 2, 2010 12:24am | Edited 12:29am
Quoting Pip26
Hello VP,

Good Luck for your trades man....

Are you watching daily charts for GU, GJ???

Yes I have been watching those charts. I have them both in a well defined down channels on the daily. Now that the two pairs have shown decisive moves off the lower channel lines I have been watching for opportunities to trade long on the 1h. However is countertrend. Have a look on the 1h charts for both and you will see right now two countertrend trades that could be just about to trigger !

Also these moves are into resistance zones so I would not suggest that anyone trade them. . .!!
Nil desperandum
  • #2,117
  • Jun 2, 2010 12:34am Jun 2, 2010 12:34am
Quoting vincentprice
Yes I have been watching those charts. I have them both in a well defined down channels on the daily. Now that the two pairs have shown decisive moves off the lower channel lines I have been watching for opportunities to trade long on the 1h. However is countertrend. Have a look on the 1h charts for both and you will see right now two countertrend trades that could be just about to trigger !

Also these moves are into resistance zones so I would not suggest that anyone trade them. . .!!
I am also using H1 for countertrend trading with low risk.

And countertrend is good when pairs moves in corrective waves.
  • #2,118
  • Jun 2, 2010 1:13am Jun 2, 2010 1:13am
Here is my view

Daily Chart is showing down channel with corrective wave now, we are having higher lows. H4 is not showing any good setup in the Daily trend direction due to corrective. So i think we can follow H1 in the direction of H4 when on Daily chart price gets in correction stage.

it is my view, please comment it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gud1.gif Size: 16 KB
Click to Enlarge Name: gudaily.gif Size: 19 KB
Click to Enlarge Name: guh41.gif Size: 14 KB
  • #2,119
  • Jun 2, 2010 1:22am Jun 2, 2010 1:22am
Quoting Pip26
Here is my view

Daily Chart is showing down channel with corrective wave now, we are having higher lows. H4 is not showing any good setup in the Daily trend direction due to corrective. So i think we can follow H1 in the direction of H4 when on Daily chart price gets in correction stage.

it is my view, please comment it.
Really nice analysis Pipster, I agree with that and like the charts. Catch you later on I need to sleep, my brain is fried after more than enough hours staring at candles. . . .
Nil desperandum
  • #2,120
  • Jun 2, 2010 1:26am Jun 2, 2010 1:26am
Quoting vincentprice
Really nice analysis Pipster, I agree with that and like the charts. Catch you later on I need to sleep, my brain is fried after more than enough hours staring at candles. . . .
Thanx for appreciating VP, Good luck for your trades.

Have a nice sleep

cya
0 traders viewing now