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Aboonacci System - for EUR/USD prediction

  • #561
  • Sep 27, 2010 12:31am Sep 27, 2010 12:31am
Quoting hutrader
London session. not asia.
Hi Hutrader,
Do you only consider the break in London session? Not including Asia time?
Also how and when you enter the break out? For example my cacultor shows the Hi breakout 1 is 1.3516 and High break out is 1.3530. Do you enter the long when price break 1.3516 or price break 1.3530?
  • #562
  • Sep 27, 2010 12:38am Sep 27, 2010 12:38am
Quoting luckylady
If you use the low breakout figure of 1.3456 then that level was broken by 10 pips, surely that would be classed as breaking it, aebab uses fxpro for charting and it went down to 1.3446!
And do you know what stopped it at 1.3446? The support of the 200 EMA on the 5 minute chart.

Fibonacci is good, but it cannot show you everything. The Moving Averages are mobile support and resistance. If you do not have these on the chart you are missing a lot.
  • #563
  • Sep 27, 2010 12:41am Sep 27, 2010 12:41am
If price will not break Low break out 1 (1.3476) we are going down to 1.3455 again.
  • #564
  • Sep 27, 2010 12:49am Sep 27, 2010 12:49am
Quoting xyz555
Hi Hutrader,
Do you only consider the break in London session? Not including Asia time?
Also how and when you enter the break out? For example my cacultor shows the Hi breakout 1 is 1.3516 and High break out is 1.3530. Do you enter the long when price break 1.3516 or price break 1.3530?
Last week I did, but luckylady pointed me to the post that it works all. So we'll see.
  • #565
  • Sep 27, 2010 1:01am Sep 27, 2010 1:01am
Also don't forget than in the majority of Aebab's own posts of live trades he has gone in at the break of the pivot with his stop loss behind the High/Low breakout 1, so in today's case I'm guessing he would have been in a sell at around the top and targeting one of the support lines.
  • #566
  • Sep 27, 2010 1:13am Sep 27, 2010 1:13am
Quoting luckylady
Also don't forget than in the majority of Aebab's own posts of live trades he has gone in at the break of the pivot with his stop loss behind the High/Low breakout 1, so in today's case I'm guessing he would have been in a sell at around the top and targeting one of the support lines.
That would have been a great trade. Now it is just ranging, waiting for London to open.
  • #567
  • Sep 27, 2010 2:28am Sep 27, 2010 2:28am
I think we are all still all very sketchy in this forum, exactly what to do, Ihave read through the posts over the weekend and see so many different ideas and examples on what to look for, how to trade this, when to place and stop a trade, ifs, buts and a lot of maybe's, now i have noticed a few more off the thread remarks and ideas coming out, including using ma's, and other indicators, i thought this thread was purely fibo and no other indicators? anyway, Bobi has done a remarkable job, getting it this far but without sounding too negative it does seem to be only half the story, I have stared at my charts this morning and gone abit fibo blind, I honestly cannot decide whether to go long on that break, or short on that pivot, what if, but, maybe I do this, or perhaps it should have, do i wait for this or am I just stupid, which I don't believe i am, (no comments please lol) anyway to sum up this slightly negative post (my apologies) I think because of the complicated system which it is, I think we need a step by step solution, unless, unless, unless there is someone lurking in this forum that does understand this totally and can post a relevant breakdown, Bobi maybe?

Any way good luck and many pips to all.

Tom
  • #568
  • Sep 27, 2010 2:38am Sep 27, 2010 2:38am
Quoting booktimes
I think we are all still all very sketchy in this forum, exactly what to do, Ihave read through the posts over the weekend and see so many different ideas and examples on what to look for, how to trade this, when to place and stop a trade, ifs, buts and a lot of maybe's, now i have noticed a few more off the thread remarks and ideas coming out, including using ma's, and other indicators, i thought this thread was purely fibo and no other indicators? anyway, Bobi has done a remarkable job, getting it this far but without sounding too negative it...
Agree fully, Tom.

The basic templates look very accurate, but how we work with them is confusing.
  • #569
  • Sep 27, 2010 2:43am Sep 27, 2010 2:43am
Quoting booktimes
I think we are all still all very sketchy in this forum, exactly what to do, Ihave read through the posts over the weekend and see so many different ideas and examples on what to look for, how to trade this, when to place and stop a trade, ifs, buts and a lot of maybe's, now i have noticed a few more off the thread remarks and ideas coming out, including using ma's, and other indicators, i thought this thread was purely fibo and no other indicators? anyway, Bobi has done a remarkable job, getting it this far but without sounding too negative it...
All I have done is read Bobi's posts his live trades, nobody elses which will confuse. Look at the time he posts then look at the charts, look at what he has put into the calculator at the time and where he has gone in, thats about the best way of finding out what to do, although I do agree, it is a bit sketchy at the moment.
  • #570
  • Sep 27, 2010 2:46am Sep 27, 2010 2:46am
Hi Bigtent
I am glad I am not alone on this, I am not a negative person and just want some clarification on this system, I totally appreciate and respect what Bobi has done thus far, but I consider this like being a student in a class room and putting my hand up and saying, "Sorry sir but I dont understand, can you explain it a bit better"
Anyway back to stare at my charts

Tom
  • #571
  • Sep 27, 2010 2:54am Sep 27, 2010 2:54am
Quoting stimpy
i think for the enrichment of the thread,
Enrichment eh? Last time I saw you you were cooking egg shells in cambodia. Even Sir Francis Finley resorted to less measures. Tbh, the key is in the calculator and keeping it simple.
  • #572
  • Sep 27, 2010 3:01am Sep 27, 2010 3:01am
Thanks Luckylady
Again glad you understand too, I have done everything you just said, a few times actually.
Ok here is an example, the price has just dropped below the 61% level on the breakout chart, so now I am waiting for it to drop below 50% for a sell, now according to Bobi, that price should then drop down to the 0 level which on my chart is 1.3363, that is crystal to me it is also below the pivot which I have as 1.3493 and also below low breakout 1 at 1.3474, so in my understanding the target now should be 1.3422, these figures are all ish? of course because we all have differing figures within a pip or two, but hopefully you get my general idea, comments please?

Tom
  • #573
  • Sep 27, 2010 3:08am Sep 27, 2010 3:08am
my interpretation is: high breakout 1 long 1.3517 are same target 1 1.3517= high resistance at 1.3517

= short direction
  • #574
  • Sep 27, 2010 3:13am Sep 27, 2010 3:13am
Quoting BlackStack
And do you know what stopped it at 1.3446? The support of the 200 EMA on the 5 minute chart.

Fibonacci is good, but it cannot show you everything. The Moving Averages are mobile support and resistance. If you do not have these on the chart you are missing a lot.
that exactly is what this strategy is trying to disprove...the notion that u cannot trade without your moving averages....

please do not introduce any confusing thoughts here
The World As It Is Can Do With Your Positive Disposition
  • #575
  • Sep 27, 2010 3:18am Sep 27, 2010 3:18am
Quoting booktimes
Thanks Luckylady
Again glad you understand too, I have done everything you just said, a few times actually.
Ok here is an example, the price has just dropped below the 61% level on the breakout chart, so now I am waiting for it to drop below 50% for a sell, now according to Bobi, that price should then drop down to the...
As far as i can tell, you are correct...take your time to learn..it takes time to trust a system.
  • #576
  • Sep 27, 2010 3:26am Sep 27, 2010 3:26am
It's all about market structure.
as I'm reading the concerns of some of the traders in this thread.. ie; (We don't know weather to buy or sell at a certain point),
to make things clear.
1. the market has quite few phases that it goes thru.. either open and moves up and continues up with minor retracements ( loading the guns stages) and moves back up.. demand
2 the market opens and moves down and continues down with minor corrections ( loading the guns .. again) supply selling.... and continues down...
3. sideways ( range bound) ........ we get to that later...

As a trader we should be able to determine the daily trend.. we shouldn't be confused as to weather we should be selling or buying..

the trend is determined as early in the day as the start of asian and early eur session..
and if price open above the pivot and we should be buying.. and if opens below we should be selling.

if opens above pivot.. focus on buying for the day.
next we start looking for oppt to buy and find entry points where your reward out weighs your risk. thats where the calculator comes in handy or the template.
we then wait for the market to retrace, correct back to the buying point and we buy. .......No sellling on buy days

1. buy day: means accumulation
2 sell to close days ..means distribution
3 sell short days ..... re- distribution
4 buy to cover.... re- accumlate to cover

so when we determine the trend is up for the day.. we should be looking ONLY to buy, using template and calculator.....and the retracement ( GUN LOADING STAGE)

AS For selling days... Opening below pivot. the same applies in opposite
first you determine where in the cycle are we... day 1 buy, or is it day2 sell.....
if selling trend exist, then we should be looking to sell

if we come in to the market and find that price has come down from top say we are in the middle of the move... it doesn't mean we should be buying cause price moved down so much... no no... we should be looking to enter the trend in the right direction and the direction assuming it's sell for the day.. you use template or calculator to re-enter the trend to the down side using corretions.



side ways marketss.....
switch to lower time frames and use the same peaks and troughs for calculating.. though I don't recomend trading choppy markets.... bit tricky..

Bobi perhaps can explain the structure better than me...

hopefully this will help clear things up...

SIGMATIME
  • #577
  • Sep 27, 2010 3:30am Sep 27, 2010 3:30am
Ok Guys
Bull by horns so to speak, I am gonna try and trade by what I have learnt on this thread,
The price is below pivot 1.3493, and below breakout 1, 1.3474, so my target is 1.3422, if it drops below 50% of breakout figure which is 1.3446, then that is further confirmation and I then expect price to go to 1.3364. This is calculated by using the pivot calc and the breakout chart because at the moment the fibo levels yellow, blue and white are too damn confusing.
Hope that makes sense, it does to me surprisingly and I am just reiterating what someone said on this thread and that was keep it simple.
respect to all

Tom
  • #578
  • Sep 27, 2010 3:34am Sep 27, 2010 3:34am
Dear Traders,
I came to say hello . Do not worry . I am developing a new version to solve much of your problems .But I am wondering why you are not paying attention to the rules ?! Euro has not finished its journey to 100% level of current phase and it has already passed 38.2% level.
Just give me time so I can finish new version. As I am extracting this program from my main sources , I should take care of formulas not to miss any. So please be patient . I hope will upload it today .
Bye till new version
Learn to walk before you run
  • #579
  • Sep 27, 2010 3:42am Sep 27, 2010 3:42am
Quoting aebab
Dear Traders,
I came to say hello . Do not worry . I am developing a new version to solve much of your problems .But I am wondering why you are not paying attention to the rules ?! Euro has not finished its journey to 100% level of current phase and it has already passed 38.2% level.
Just give me time so I can finish new version. As I am extracting this program from my main sources , I should take care of formulas not to miss any. So please be patient . I hope will upload it today .
Bye till new version

Take your time aebab, we can wait...

Persistence + Patience = Success.
  • #580
  • Sep 27, 2010 3:46am Sep 27, 2010 3:46am
Quoting luckylady
All I have done is read Bobi's posts his live trades, nobody elses which will confuse.
Wish everyone would do that!
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