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Aboonacci System - for EUR/USD prediction

  • #1,441
  • Oct 4, 2010 6:48am Oct 4, 2010 6:48am
Quoting billbss
aebab,

fxsense doesn't appear to be around.

Will you read his post (below) and tell us how a short entry at 1.3775 is consistent with the 74 (78) rule?
I think we can all learn from it.
Thank you


While naysayers are busy whining and copycats are still scratching their heads, the group already made the killing today.

This is my personal exp, others might have made much more.


[10:43:52 AM] fxsense says: [b]No. I am currently concentrating only on NY...
Hi
This is not a rule trading , this is only a trick or maybe you can say a technic . Most of the times when 76.4% is broken you will meet 61.8 % and if this line and specially 50% is broken then it may meet 38.2% and then 23.6%.
This fibonacci is suitable for Scalpers and FXsense is a scalper and she found Aboonacci system to help his/her scalping .
I found this method the time I started to study behavior of market .Any candle and any reversal should be interpreted . I do not use it now so much but I use it when I go short and I do not use it for reversal as I have many other technics that help me to find the trend .
Attached Image (click to enlarge)
Click to Enlarge Name: 50%broken.gif Size: 16 KB
Learn to walk before you run
  • #1,442
  • Oct 4, 2010 6:57am Oct 4, 2010 6:57am
Quoting mcphrant
Nice trade on your part.
My main use of the calculator is that of estimating likely target(s) when I enter a trade and for me it is a great tool.
My question to you is-When you compute the numbers based on the NY close, do you use the monthly sentiment in relation to the pivot on the calculator to get some sort of bias as to likely direction for the day i.e long or short? Therefore if monthly sentiment below pivot, market bearish & opposite for the sentiment above pivot??
Hello,

The monthly Sentiment 1.3765 was below Pivot 1.3782, but I didn't look at the monthly sentiment because the M15 timeframe was used for trading.

The High Break Out 1 and Target were the same 1.3796 , indicating a strong resistance.
Previous high at 1.38049
Phase line at 1.3800
Very strong bearish engulfing candlestick pattern (reversal)
Short trade !

eTrader,
  • #1,443
  • Oct 4, 2010 7:02am Oct 4, 2010 7:02am
Quoting eTrader
Hello,

The monthly Sentiment 1.3765 was below Pivot 1.3782, but I didn't look at the monthly sentiment because the M15 timeframe was used for trading.

The High Break Out 1 and Target were the same 1.3796 , indicating a strong resistance.
Previous high at 1.38049
Phase line at 1.3800
Very strong bearish engulfing candlestick pattern (reversal)
Short trade !

eTrader,
Whatever timeframe, I have been noting the monthly sentiment because its usually right
  • #1,444
  • Oct 4, 2010 7:02am Oct 4, 2010 7:02am
Quoting eTrader
Hello,

The monthly Sentiment 1.3765 was below Pivot 1.3782, but I didn't look at the monthly sentiment because the M15 timeframe was used for trading.

The High Break Out 1 and Target were the same 1.3796 , indicating a strong resistance.
Previous high at 1.38049
Phase line at 1.3800
Very strong bearish engulfing candlestick pattern (reversal)
Short trade !

eTrader,
Yes I did see the 3796 resistance thrown up by the calculator. Thanks for the clarification.
  • #1,445
  • Oct 4, 2010 7:06am Oct 4, 2010 7:06am
Quoting aebab
Hi
This is not a rule trading , this is only a trick or maybe you can say a technic . Most of the times when 76.4% is broken you will meet 61.8 % and if this line and specially 50% is broken then it may meet 38.2% and then 23.6%.
This fibonacci is suitable for Scalpers and FXsense is a scalper and she found Aboonacci system to help his/her scalping .
I found this method the time I started to study behavior of market .Any candle and any reversal should be interpreted . I do not use it now so much but I use it when I go short and I do not use...

I thought it might be something like that but 1.3775 does not coincide with any of the fibs. Neither the yellow fibs or the ones that would be drawn with the 74 rule.

When asked to explain the trade, fxsense linked to this chart as an explanation, which is the one you posted explaining the basic 74 rule:

http://www.forexfactory.com/showpost...3&postcount=40



Maybe they have created a new rule that none of us know about.
  • #1,446
  • Oct 4, 2010 7:09am Oct 4, 2010 7:09am
Quoting luckylady
Whatever timeframe, I have been noting the monthly sentiment because its usually right
Interesting..
I know I can backtest this, but if it is not too much trouble, do you have any readily available data on this?

thanks
  • #1,447
  • Oct 4, 2010 7:12am Oct 4, 2010 7:12am
Quoting leemonk
Bobbi,

Please see an example of one of your trades; Closing Reversal Fibonacci from last night.

Price did infact bounce where you suggested it might, almost to pip perfect.

If you have the time I have three questions around this:

1. Is this only applicable at the close of the day
2. Are there any other rules about this being in effect. ie if price was 30 pips high on last nights close, would it still be in effect.
3. Do you have a way of measuring how much it might bounce.

Regards

Lee
Thank you . I like these kind of questions to reply:
1.Yes.That is applicable after close of the day . The point the close is happening will be sentimental level for next day . Close is not happening by chance . It creates a plan for next day .
2.Not exactly . It should be checked with another rooms the price enters . When the price is moving , it enters to some areas that you can call them ROOMS. You should check which room the price enters . To find the rooms you need some other fibonacci levels and templates . I was 100% sure about it that today it will be back down and I just was in short positions . I can give my reason about that . If I can not find the reason why it passes 2 pips , trading becomes very difficult . I should know why this day , highest level of price was 3804 and why price is bouncing at 1.3665 . Many may say its only a lie a claim , or any other things . But if you like I can show the reason.
If you can belive it or not but I claim that :there is no candle or level that Abonacci System can not provide reason for it .
I'm afraid many are gathering information and ideas from this thread and posting other thread in their name .When Base Level is provided 90% of problems are solved.
Learn to walk before you run
  • #1,448
  • Oct 4, 2010 7:16am Oct 4, 2010 7:16am
Quoting billbss
I thought it might be something like that but 1.3775 does not coincide with any of the fibs. Neither the yellow fibs or the ones that would be drawn with the 74 rule.

When asked to explain the trade, fxsense linked to this chart as an explanation, which is the one you posted explaining the basic 74 rule:

http://www.forexfactory.com/showpost...3&postcount=40



Maybe they have created a new rule that none of us know about.
She/He is getting expert in usage of this fib .When I was chatting with Fxsense I described many things about that . Fxsense has backtested for 2 or 3 months and found a rule for his/her self as described for me in the chatroom.
Learn to walk before you run
  • #1,449
  • Oct 4, 2010 7:18am Oct 4, 2010 7:18am
Quoting mcphrant
Interesting..
I know I can backtest this, but if it is not too much trouble, do you have any readily available data on this?

thanks
I know someone that does, so I will get it for you, just might take a little while to reach them.

Another thing we noted was, the only day that all 3 breakout trades that were taken were losses, the pivot and monthly sentiment were exactly the same figure and it ranged all day.
  • #1,450
  • Oct 4, 2010 7:23am Oct 4, 2010 7:23am
Quoting luckylady
I know someone that does, so I will get it for you, just might take a little while to reach them.

Another thing we noted was, the only day that all 3 breakout trades that were taken were losses, the pivot and monthly sentiment were exactly the same figure and it ranged all day.
Thanks very much. I will also ask the owner of this thread about the monthly sentiment.
  • #1,451
  • Oct 4, 2010 7:24am Oct 4, 2010 7:24am
Quoting aebab
She/He is getting expert in usage of this fib .When I was chatting with Fxsense I described many things about that . Fxsense has backtested for 2 or 3 months and found a rule for his/her self as described for me in the chatroom.
That's certainly possible.

It's also possible that fxsense didn't understand the 74 pip rule and blundered into the trade.

I say that because when asked, fxsense didn't cite any special rules. He/she explained it by linking to the basic 74 pip chart.

Maybe this person can clear it up for us.
  • #1,452
  • Oct 4, 2010 7:27am Oct 4, 2010 7:27am
Bobi,
When you compute the numbers based on the daily NY close, do you use the monthly sentiment in relation to the pivot on the calculator to get some sort of bias as to likely direction for the day i.e long or short? Therefore if monthly sentiment below pivot, market bearish & opposite for the sentiment above pivot??

Thanks
  • #1,453
  • Oct 4, 2010 7:31am Oct 4, 2010 7:31am
Quoting mcphrant
Bobi,
When you compute the numbers based on the daily NY close, do you use the monthly sentiment in relation to the pivot on the calculator to get some sort of bias as to likely direction for the day i.e long or short? Therefore if monthly sentiment below pivot, market bearish & opposite for the sentiment above pivot??

Thanks
If you take a look at this post, its where I got it from in the first place.

http://www.forexfactory.com/showpost...&postcount=202
  • #1,454
  • Oct 4, 2010 7:35am Oct 4, 2010 7:35am
Good trade!

I think it is necessary to introduce stricter rules. Enter, TP and SL, trend direction etc. Make the System rather than an Indicator. There are currently no clear rules. How it all blurry.

Cheers
  • #1,455
  • Oct 4, 2010 7:35am Oct 4, 2010 7:35am
Quoting luckylady
If you take a look at this post, its where I got it from in the first place.

http://www.forexfactory.com/showpost...&postcount=202
Thanks very much. I am hoping that Bobi will respond to my question and elaborate more on this so that it can be better understood.
  • #1,456
  • Oct 4, 2010 7:48am Oct 4, 2010 7:48am
Quoting mcphrant
Bobi,
When you compute the numbers based on the daily NY close, do you use the monthly sentiment in relation to the pivot on the calculator to get some sort of bias as to likely direction for the day i.e long or short? Therefore if monthly sentiment below pivot, market bearish & opposite for the sentiment above pivot??

Thanks
Hi
I rank these kind of questions as constructive question so I like to reply.
I was using sentiment with pivot . But really now I am not trading with the calculator you have .That is the first generation and you need to start from that to understand next levels of calculators I provide. I will post a new calculator that help you find the trend much easier . But for that , yes you need to use it . But it does not mean that if below or above will prove the whole direction . Sentiment is a level that should be met before trending happen.
Learn to walk before you run
  • #1,457
  • Oct 4, 2010 7:54am Oct 4, 2010 7:54am
Quoting aebab
Hi
Sentiment is a level that should be met before trending happen.
Appreciate your response and looking forward to the updated calculator. Another question would be when pivot & monthly sentiment are the same, do you avoid break-out trades for that day?

Thanks
  • #1,458
  • Oct 4, 2010 8:02am Oct 4, 2010 8:02am
Quoting mcphrant
Appreciate your response and looking forward to the updated calculator. Another question would be when pivot & monthly sentiment are the same, do you avoid break-out trades for that day?

Thanks
No . Why avoiding ? Sentiment is a feeling that traders have to that point . This level of finding sentiment is introduced in Abonacci system for the first time .You will have more accurate of sentiment in next calculator.
I teach you another way of trading you can do as I was doing in the past . Apply rule of closing Fibonacci to pivot and sentiment and see the result . I mean suppose them as close of the day and apply the fibonacci to it . (do not forget that each month it differs about the range)
Learn to walk before you run
  • #1,459
  • Oct 4, 2010 8:06am Oct 4, 2010 8:06am
Quoting aebab
Hi
I rank these kind of questions as constructive question so I like to reply.
I was using sentiment with pivot . But really now I am not trading with the calculator you have .That is the first generation and you need to start from that to understand next levels of calculators I provide. I will post a new calculator that help you find the trend much easier . But for that , yes you need to use it . But it does not mean that if below or above will prove the whole direction . Sentiment is a level that should be met before trending happen.

Thanks aebab first for coming back and secondly for the explanatory and revealing answers.

please i need to clarify the followings;

1. when you say baseline, does it mean an area/price of support that price is expected to remain above it throughout the month?
2. Is it expectant that a baseline can be broken either downside or upside?
3.The 74 pips rule is now 78 pips for October; what is the valid stop loss for a buy order that is placed around 0.0%, 23.6% and or 38.2% of the reversal fibo?
The World As It Is Can Do With Your Positive Disposition
  • #1,460
  • Oct 4, 2010 8:08am Oct 4, 2010 8:08am
Hello
Would you mind indicating me where I cant find the October template and/or calculator? Thanks
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