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Powerful Fib Based System - by DAZfx

  • #2,141
  • Jun 2, 2010 6:28am Jun 2, 2010 6:28am
Quoting jarnilse
There is a bearish hidden divergence on GBPJPY, D1, which hopefully will improve chances of success if we go short.
I'm not that certain about GBPUSD.

Will Daz setup on D1 and Daz setup on H1 give us the entry point?
Yes jarnilse you can trade D1 and H1 but with trend direction. Counter trend can be risky. but for short targets you can use H1 as a countertrend of D1 with the direction of H4.
  • #2,142
  • Jun 2, 2010 6:45am Jun 2, 2010 6:45am
Quoting Pip26
Yes jarnilse you can trade D1 and H1 but with trend direction. Counter trend can be risky. but for short targets you can use H1 as a countertrend of D1 with the direction of H4.
I'm not shure if I have understood you correctly.
For GBPJPY, D1 I was thinking of going short when there is a Daz setup on D1 and at the same time a Daz setup on H1.
The profit targets would be expansion on D1.

Did you have something else in mind?
  • #2,143
  • Jun 2, 2010 6:49am Jun 2, 2010 6:49am
Quoting jarnilse
I'm not shure if I have understood you correctly.
For GBPJPY, D1 I was thinking of going short when there is a Daz setup on D1 and at the same time a Daz setup on H1.
The profit targets would be expansion on D1.

Did you have something else in mind?
When you are getting one strong trendy setup on higher time frames then dont play counter trend on lower time frames.
  • #2,144
  • Jun 2, 2010 6:59am Jun 2, 2010 6:59am
Quoting Pip26
When you are getting one strong trendy setup on higher time frames then dont play counter trend on lower time frames.
I have misunerstood you...
For GBPJPY you are thinking of going long, for example on H1 in direction of daily correction wave and the H4 channel.

Correct?
  • #2,145
  • Jun 2, 2010 7:08am Jun 2, 2010 7:08am
Quoting jarnilse
I have misunerstood you...
For GBPJPY you are thinking of going long, for example on H1 in direction of daily correction wave and the H4 channel.

Correct?
Yes but need to notice some points also.

1. D1 should not be at strong reversal level.
2. H4, H1 price should not be on top of channel.
  • #2,146
  • Jun 2, 2010 7:13am Jun 2, 2010 7:13am
Quoting Pip26
Yes but need to notice some points also.

1. D1 should not be at strong reversal level.
2. H4, H1 price should not be on top of channel.
Thanks for the clarification

I was thinking of retracement on D1, and therefore go short. But that might be too agressive.
  • #2,147
  • Jun 2, 2010 11:46am Jun 2, 2010 11:46am
Quoting jarnilse
I see the last days support at 2850. I ignored that , concentrating on earlier support around 2660.

Unfortunately you seems to be right...Looked good, but currently trade is against me.


Attachment
Hey Jarnilse just logged on to see Eur Cad just hit T3 for around 150 pips profit, did you also ide this one to target?
Nil desperandum
  • #2,148
  • Jun 2, 2010 11:51am Jun 2, 2010 11:51am
Quoting vincentprice
Hey Jarnilse just logged on to see Eur Cad just hit T3 for around 150 pips profit, did you also ide this one to target?
Entered at 1.2860 with T3 at 1.2740 which gave 120 pips
  • #2,149
  • Jun 3, 2010 12:51pm Jun 3, 2010 12:51pm
Hello

Anyone around, I am just about to boil up some coffee as the 4h charts are showing that there could be some setups forming. Charts I am looking at are EUR/GBP EUR/AUD short potentials. Already short on EUR/GBP.

AUD/JPY, AUD/USD and NZD/USD potential longs.

All these charts are at different stages of forming setups and may come to nothing. . . One trade would be nice. . .
Nil desperandum
  • #2,150
  • Edited 12:59pm Jun 3, 2010 12:58pm | Edited 12:59pm
Quoting vincentprice
Hello

Anyone around, I am just about to boil up some coffee as the 4h charts are showing that there could be some setups forming. Charts I am looking at are EUR/GBP EUR/AUD short potentials. Already short on EUR/GBP.

AUD/JPY, AUD/USD and NZD/USD potential longs.

All these charts are at different stages of forming setups and may come to nothing. . . One trade would be nice. . .


But Aud/Usd is also made lower high on H4 so becarefull with it.
  • #2,151
  • Jun 3, 2010 1:00pm Jun 3, 2010 1:00pm
Quoting vincentprice
Hello

Anyone around, I am just about to boil up some coffee as the 4h charts are showing that there could be some setups forming. Charts I am looking at are EUR/GBP EUR/AUD short potentials. Already short on EUR/GBP.

AUD/JPY, AUD/USD and NZD/USD potential longs.

All these charts are at different stages of forming setups and may come to nothing. . . One trade would be nice. . .
Hi
I'm also short on EURGBP, H4. Had success with EURUSD H4, 78.6 closed 1.5 hours ago.
I'm following USDJPY, H1.
  • #2,152
  • Jun 3, 2010 1:09pm Jun 3, 2010 1:09pm
Quoting Pip26


But Aud/Usd is also made lower high on H4 so becarefull with it.

Yes I agree need to be careful with this pair going long right now, the 4h chart made a lower low after bouncing of a longer term trendline, see my chart below.

The chart is now forming a nice up channel on the 4h and depending on how the price action develops could look good to push up to new highs but yeah . . . the setup would have to be perfect for me to go long here. . .
Attached Image (click to enlarge)
Click to Enlarge Name: a.jpg Size: 73 KB
Nil desperandum
  • #2,153
  • Jun 3, 2010 1:13pm Jun 3, 2010 1:13pm
Quoting jarnilse
Hi
I'm also short on EURGBP, H4. Had success with EURUSD H4, 78.6 closed 1.5 hours ago.
I'm following USDJPY, H1.
Lol looks like you are one step ahead of me again on the EUR/GBP.

I have the USD JPY setup chalked up to, waiting to see if I can get a decent entry. . . . I might be too late now , forgot about it as was watching other pairs
Nil desperandum
  • #2,154
  • Jun 3, 2010 2:05pm Jun 3, 2010 2:05pm
Yeah the USD JPY has taken off, missed it by a few minutes, did you trade it Jarnilse?
Nil desperandum
  • #2,155
  • Jun 3, 2010 2:40pm Jun 3, 2010 2:40pm
Quoting vincentprice
Yeah the USD JPY has taken off, missed it by a few minutes, did you trade it Jarnilse?
No. Never got a good entry after confirmation candle.
  • #2,156
  • Jun 3, 2010 7:26pm Jun 3, 2010 7:26pm
Quoting jarnilse
No. Never got a good entry after confirmation candle.
Yeah it never paused to let us get on board, looks like I boiled up the coffee for nothing, no more trades for now. Still the EUR GBP is still steadily dropping sstedily. . . .
Nil desperandum
  • #2,157
  • Jun 4, 2010 3:48am Jun 4, 2010 3:48am
Here goes for EJ trade nice 1:1 confirmed now at breakeven.
Attached Image (click to enlarge)
Click to Enlarge Name: ejh11.gif Size: 14 KB
  • #2,158
  • Jun 4, 2010 7:39am Jun 4, 2010 7:39am
Quoting jarnilse
Hi
I'm also short on EURGBP, H4. Had success with EURUSD H4, 78.6 closed 1.5 hours ago.
I'm following USDJPY, H1.

Eur Gbp is now near the 4h T2, a good 70 pips or round about. . .
Nil desperandum
  • #2,159
  • Jun 4, 2010 9:14am Jun 4, 2010 9:14am
Quoting vincentprice
Eur Gbp is now near the 4h T2, a good 70 pips or round about. . .
Good. You should be close to T3 now I guess.
I became a chicken and closed before T2 because stochastic crossed and moved up against 20...
  • #2,160
  • Jun 4, 2010 9:25am Jun 4, 2010 9:25am
Quoting jarnilse
Good. You should be close to T3 now I guess.
I became a chicken and closed before T2 because stochastic crossed and moved up against 20...

I am out now as well on fill at T2, great we both made a nice profit. Looks like the last trade of the week, nice to end on a high. . . .
Nil desperandum
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