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Aboonacci System - for EUR/USD prediction

  • #1,701
  • Oct 6, 2010 9:49am Oct 6, 2010 9:49am
Quoting hardearned
I just wish I knew who were the people that were invited to Sype chat that were being trained to pass on the information to us??

SO REVEAL YOURSELF. HELP US GUYS

KDX are you one of them???
Yes I am one of the users in the skype room. Hope I and the other users in the room will be able to offer help here.
  • #1,702
  • Oct 6, 2010 9:51am Oct 6, 2010 9:51am
Quoting trader91
Ok, but when I compare the template on October 3 on the left and Abonacci indicator on the right, there are not same fibonacci levels ?
aebab recalculated the baseline for power t 4 because he said the initial figure for the phases was deficient for trading plans and so when the recalculation was done, the base too changed.

personally, i have a chart for the two templates and i compared, the difference are not noticeable.

you may decide to use either of them but you MUST adhere to the rules guiding each.
The World As It Is Can Do With Your Positive Disposition
  • #1,703
  • Oct 6, 2010 9:51am Oct 6, 2010 9:51am
Quoting trader91
Ok, but when I compare the template on October 3 on the left and Abonacci indicator on the right, there are not same fibonacci levels ?

Oups, I forgot to attach the chart !
Attached Image (click to enlarge)
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  • #1,704
  • Oct 6, 2010 9:52am Oct 6, 2010 9:52am
Quoting trader91
In the indicator below what base lebel i must put for october please?

Ok here the base level you would enter 1.3667, also you need to change the range to 220 I'm assuming you are using the power4 template?
  • #1,705
  • Oct 6, 2010 9:53am Oct 6, 2010 9:53am
Quoting Sheumais
This is from message 238 for those needing some clarification on 7 pips. I must confess I'd missed it too.

He was talking about breakout levels.
Example- adding 7 pips to a breakout level and entering at the breakout level + 7 pips.

Here was the question he was answering:

HI Aebab,

I want to clarify when you talk of breaking levels for eg if price breakes the 38.2 level u say you expect price to reach the 100 level of that phase, my question is when you say break do you mean even if price moves 1 pip above the 38.2 level or as we trading this in 15M time frame are you looking for candle to close above 38.2 level than take entry?

Thanks


To my knowledge, this morning is the first time anything has been said about lowering a TP point by 7 pips.
This rule just appeared in the nick of time to claim an exit at what was then the exact high.

Nothing was mentioned about the losing High Breakout 1 trade from the calculator. Even fudging by 7 pips would not have made that a winner.
  • #1,706
  • Oct 6, 2010 10:07am Oct 6, 2010 10:07am
Quoting billbss
He was talking about breakout levels.
Example- adding 7 pips to a breakout level and entering at the breakout level + 7 pips.

Here was the question he was answering:

[b]HI Aebab,

I want to clarify when you talk of breaking levels for eg if price...



"To my knowledge, this morning is the first time anything has been said about lowering a TP point by 7 pips.
This rule just appeared in the nick of time to claim an exit at what was then the exact high."


see luckylady?
  • #1,707
  • Oct 6, 2010 10:13am Oct 6, 2010 10:13am
I was going back through the entire thread and had got to page 36 before I began to lose the will to live. The newer of the recent templates, Power 4 is a mystery to me, but there is to be a set of instructions posted to clarify how it is applied.

There do seem to be slightly obscure rules for this and that and so many different coloured Fibonacci lines that it could get quite messy, which is why I prefer to stick to the calculator and steps 1, 2 and 3. That was fine on Monday and Tuesday, but you would be lucky not to be stopped-out today.
  • #1,708
  • Oct 6, 2010 10:19am Oct 6, 2010 10:19am
Quoting Sheumais
I was going back through the entire thread and had got to page 36 before I began to lose the will to live. The newer of the recent templates, Power 4 is a mystery to me, but there is to be a set of instructions posted to clarify how it is applied.

There do seem to be slightly obscure rules for this and that and so many different coloured Fibonacci lines that it could get quite messy, which is why I prefer to stick to the calculator and steps 1, 2 and 3. That was fine on Monday and Tuesday, but you would be lucky not to be stopped-out today.

I agree with you Sheumais, difficult to position around 38.2%!
Attached Image (click to enlarge)
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  • #1,709
  • Oct 6, 2010 10:19am Oct 6, 2010 10:19am
Quoting Sheumais
I was going back through the entire thread and had got to page 36 before I began to lose the will to live. The newer of the recent templates, Power 4 is a mystery to me, but there is to be a set of instructions posted to clarify how it is applied.

There do seem to be slightly obscure rules for this and that and so many different coloured Fibonacci lines that it could get quite messy, which is why I prefer to stick to the calculator and steps 1, 2 and 3. That was fine on Monday and Tuesday, but you would be lucky not to be stopped-out today.

You would have been stopped out on the first calculator breakout.

Had you entered the second one, you would have hit profit. However this was after we had been told to "be careful" about going long gain.


There was a loss and a win following the calculator today.

Yesterday there were two wins. They were legitimate wins and didn't depend on any "new" rules being introduced after the fact.
  • #1,710
  • Edited 10:53am Oct 6, 2010 10:23am | Edited 10:53am
Quoting billbss
You would have been stopped out on the first calculator breakout.

Had you entered the second one, you would have hit profit. However this was after we had been told to "be careful" about going long gain.

That was when the small fuse in my brain popped and I went away.
  • #1,711
  • Oct 6, 2010 10:33am Oct 6, 2010 10:33am
Quoting billbss
You would have been stopped out on the first calculator breakout.

Had you entered the second one, you would have hit profit. However this was after we had been told to "be careful" about going long gain.
no luckylady will tell different, im sure of that thinking.

using the calculator yesterday you make 25 pips only. very bad. it rise 200 pips. maybe normal indicator is better than this system?

calculator wrong on friday and market rise also. check my findings.

today we told not to go long! look at market. now we have three template for market. now system cannot be wrong minus 7 pips all time.

yesterday we told falling market and it rise 200.

sorry for my english.
  • #1,712
  • Oct 6, 2010 10:46am Oct 6, 2010 10:46am
Quoting billbss
He was talking about breakout levels.
Example- adding 7 pips to a breakout level and entering at the breakout level + 7 pips.

Here was the question he was answering:

[b]HI Aebab,

I want to clarify when you talk of breaking levels for eg if price...

it was a winer at 1.3880...i took the trade and it hit TP besides, if the sl was not too tight, it would have hit your tp now even without the 7 pips rule
The World As It Is Can Do With Your Positive Disposition
  • #1,713
  • Oct 6, 2010 10:49am Oct 6, 2010 10:49am
Quoting trader91
I agree with you Sheumais, difficult to position around 38.2%!
if you had been smart with your sl, you wouldn't get stopped out.

i think the issue of settng sl too needs to be discussed with aebab
The World As It Is Can Do With Your Positive Disposition
  • #1,714
  • Oct 6, 2010 11:02am Oct 6, 2010 11:02am
Quoting liberty71
it was a winer at 1.3880...i took the trade and it hit TP besides, if the sl was not too tight, it would have hit your tp now even without the 7 pips rule
With the calculator today, there was one loss if you took no notice of the High Breakout figure (1.3673 which should be looked at as support) and if you went in again when it broke back up, 1 win which hit take profit....so far. As billbss said, going in by the calculator with the amount that dropped earlier, nothing would have prevented you from stopping out unless you had a 60 pip stop. This is talking about purely the calculator, not the abonacci 4 template.
  • #1,715
  • Oct 6, 2010 11:06am Oct 6, 2010 11:06am
Price is approaching the calculator's High Breakout 2.

It has a good record over the last two months. I show 7-0.

That is a small sample, but within that sample it has done well.
  • #1,716
  • Oct 6, 2010 11:15am Oct 6, 2010 11:15am
Quoting billbss
Price is approaching the calculator's High Breakout 2.

It has a good record over the last two months. I show 7-0.

That is a small sample, but within that sample it has done well.
I saw it, but wondering about the time of day.
  • #1,717
  • Oct 6, 2010 11:19am Oct 6, 2010 11:19am
Whilst I'm looking for a replacement fuse for my brain, I hope you don't mind if I ask what might be a stupid question. Have I missed an explanation of the Power 4 template? I looked back over the pages since it was issued and couldn't see anything.
  • #1,718
  • Oct 6, 2010 11:24am Oct 6, 2010 11:24am
Quoting Sheumais
Whilst I'm looking for a replacement fuse for my brain, I hope you don't mind if I ask what might be a stupid question. Have I missed an explanation of the Power 4 template? I looked back over the pages since it was issued and couldn't see anything.
there is no explanation other than its for longer term trades...whatever that means
  • #1,719
  • Oct 6, 2010 11:29am Oct 6, 2010 11:29am
Quoting lemming007
no luckylady will tell different, im sure of that thinking.

using the calculator yesterday you make 25 pips only. very bad. it rise 200 pips. maybe normal indicator is better than this system?

calculator wrong on friday and market rise also. check my findings.

today we told not to go long! look at market. now we have three template for market. now system cannot be wrong minus 7 pips all time.

yesterday we told falling market and it rise 200.

sorry for my english.
Actually no I didn't say different, I said going by the calculator you would have been stopped out first, and then had a winner. Using the calculator yesterday you would have had 1 loss (maybe depending on where your stop loss was) and 2 winners, so how you got 25 pips out of that I'm not sure, perhaps you're not using the calculator right??

No today we were not told not to go long, he said be careful of longs and liberty71 said if it breaks back above the 38.2% it was a signal to go long. Going by the calculator you would have had 1 win and 1 loss so far.

Use the calculator, read the thread! I apologise that my answers seem to be late where you're concerned but as you keep signing up under different usernames to say the same thing, you are still in moderation with Forex Factory, so your posts take a while to show up.
  • #1,720
  • Oct 6, 2010 11:40am Oct 6, 2010 11:40am
Quoting billbss
You would have been stopped out on the first calculator breakout.

Had you entered the second one, you would have hit profit. However this was after we had been told to "be careful" about going long gain.


There was a loss and a win following the calculator today.

Yesterday there were two wins. They were legitimate wins and didn't depend on any "new" rules being introduced after the fact.
How was there a loss following the calculator? I use the original one.

I had HB1 @ 1.3842 with a target of 3895
I had LB1 @ 1.3811 with a target of 3799

The low LB1 worked but I didn't take it. I went long at 3839 with a SL at 3792 (7 pips below the 0% line) and the trade hit the TP. My understanding was that once the 38.2% line is crossed up, price should reach 100% of that level. Once 38.2 is broken upwards, it doesn't matter if it crosses back down (within the current phase.) Bobi stated that 100% wasn't a "guarantee" this month but that price should reach 76.4% once 38.2% is broken. So, even though one could have taken the LB1 for a scalp, the long was still valid since 76.4% wasn't reached yet.

Putting my SL below the 0% line was my own choice but I think Bobi should clarify what the recommended SL's are considering in the beginning he stated his max SL is 30 pips and often times only 5 pips.

Also, the addition of another template is adding to more confusion. Power 3 indicated that E/U would see more upside since 38.2% had been broken without having at least reached 76.4% (it didn't at the time) but then we got conflicting rules with the whole thing about the Power 4 template indicating to get out of longs and to "be careful." This seem to have been another addition to the "rules" when an assumption was made that the Power 3 template wouldn't live up to the 38.2% rule.
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