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Aboonacci System - for EUR/USD prediction

  • #2,281
  • Oct 21, 2010 3:30am Oct 21, 2010 3:30am
Hi all,

In wich case and what prices (H,L,C) take to recalculate after Asian session please ?
  • #2,282
  • Oct 21, 2010 3:42am Oct 21, 2010 3:42am
Hi E Trader

I have a question for you.In Asian session 2nd low breakout was triggered after Pullback Level at 1.3918 was hit.Would you have taken that trade ?

The 1st breakout wasn't valid as price didn't penetrate 1.3984 from above from above.

Also I like your layout.Nice and easy to see the entry point and target.

Regards,


V
  • #2,283
  • Oct 21, 2010 3:48am Oct 21, 2010 3:48am
i have difficulties in using the fibonacci method...i heard woodie method...but do not know the exact way to go about it. i read up their stuff..when the method apply to future, it's workable, if apply to forex, erm, i totally messed up...complex to me..

i have to try using macd, candlestick, rsi and even stochastic...tat is d problem with novice.

i cant seem come up a gd trading strategy with the necessary gears to go abt it. can help me with tis? thanks,
  • #2,284
  • Oct 21, 2010 3:54am Oct 21, 2010 3:54am
Quoting TurboTommy84
I know it has been mentioned, but anybody know which values to use during recalc of asian session? I`m a bit confused as to it`s the HLC of the asian session, or the 50% phase of one of the templates, or one of the "resistances" in the daily interpretation +1 pip?
For the version 3 calculator you need the HLC, I don't usually recalculate though until one of the targets have been hit, then I do it.
  • #2,285
  • Oct 21, 2010 3:57am Oct 21, 2010 3:57am
Quoting Villonius
Hi E Trader

I have a question for you.In Asian session 2nd low breakout was triggered after Pullback Level at 1.3918 was hit.Would you have taken that trade ?

The 1st breakout wasn't valid as price didn't penetrate 1.3984 from above from above.

Also I like your layout.Nice and easy to see the entry point and target.

Regards,


V
Yes its valid to take that trade, but bearing in mind the day was supposed to be overall bullish and for the target, the pullback signal target would have been best.
  • #2,286
  • Oct 21, 2010 4:09am Oct 21, 2010 4:09am
Thanks for your reply LuckyLady

I'm still getting my head around the Bullish/Bearish Day from Calc 3. I presume it is much easier to see this with the new version of the Calculator.

Also that signal was a bit suspicious anyway, Bullish Flags rarely break to the downside and just one big 15 spike candle which hits the trigger after moving 65 pips... no no no

I was fast asleep anyway as UK timezone was just curious that's all.

Thanks


V
  • #2,287
  • Oct 21, 2010 4:15am Oct 21, 2010 4:15am
Quoting luckylady
For the version 3 calculator you need the HLC, I don't usually recalculate though until one of the targets have been hit, then I do it.
Which targets?

I`ve recalced the asian session, and the daily power sentiment @ 1.4008 has been broken, which means price should eventually reach 1.4091?

It`s reached high breakout target 1 and then some.
  • #2,288
  • Oct 21, 2010 4:30am Oct 21, 2010 4:30am
Quoting StarHub
hi segaram

congrat you got the pips,juz check with you that, the 7pips here u mentioned means that we need to deduct from 1.4055 in order to get th TP?!sorry, i am still new to this system...n thank you...
Personally, anytime I'm LONG, I deduct 10 pips from the TP calculator gives. When I'm SHORT, I simply add 10 pips to the TP level the calculator gives. Many times I notice price reaches the target level to within 7 pips. Simply put, I'd rather be profitable than correct to the pip, if you know what I mean.
  • #2,289
  • Oct 21, 2010 4:55am Oct 21, 2010 4:55am
Quoting segaram
Personally, anytime I'm LONG, I deduct 10 pips from the TP calculator gives. When I'm SHORT, I simply add 10 pips to the TP level the calculator gives. Many times I notice price reaches the target level to within 7 pips. Simply put, I'd rather be profitable than correct to the pip, if you know what I mean.
thanks segaram

i totally understand your meaning,and i just wondering how they keep mentioning the asian session, do u also understand this?i m a bit blur with this asian session recalculation.please kindly guide me... thanks bro
  • #2,290
  • Oct 21, 2010 5:16am Oct 21, 2010 5:16am
Quoting TurboTommy84
Which targets?

I`ve recalced the asian session, and the daily power sentiment @ 1.4008 has been broken, which means price should eventually reach 1.4091?

It`s reached high breakout target 1 and then some.
I don't recalculate at the end of a session thats what I meant. I calculate at the end of the day, then if it reaches one of the original targets and hangs about, I recalculate then.
  • #2,291
  • Oct 21, 2010 6:02am Oct 21, 2010 6:02am
Hi Lucky Lady sorry to bother you again.

Similar question to the 1st.

1st Breakout to the downside triggered.Do you take this trade or do you ignore once the bullish trade was triggered earlier.From what I have seen you tend to indicate that once a trade has been triggered and completed you re-calculate and you use the new figures.

So I assume when you do this you use the HL from NY and whatever the current close is.Here would you use the figure which closed the Bullish Trade earlier ie 1.4049 ?

Some clarity and walk through on a re-calculation would be great for some clarity and probably help the other viewers of this thread.

Regards


V
  • #2,292
  • Oct 21, 2010 6:03am Oct 21, 2010 6:03am
Bobi sais Abonacci system works with DJ.

Is that possible ti use calculator to DJ?
  • #2,293
  • Oct 21, 2010 6:03am Oct 21, 2010 6:03am
Quoting StarHub
thanks segaram

i totally understand your meaning,and i just wondering how they keep mentioning the asian session, do u also understand this?i m a bit blur with this asian session recalculation.please kindly guide me... thanks bro
Hey there StarHub,

My timezone is actually GMT+5.5 I think? When I wake up in the morning, Japan session is already a couple of hours in progress. Where I am helps me to easily cover second half of Japan, all of Europe, and first half of New York sessions. I honestly do not re-calculate simply because like you I'm a bit confused with it. I also don't have the confidence that I get from previous day's HI, LO and Close data.
From my understanding, I beleive you can use any swing HI, swing LO and the close of the Swing Hi or Low candle to generate new signals.
I know this can be very confusing with many levels that the calculator generates, but give it time and go one level at a time. Use the version 3 calculator Bobi provided for September to do babcktesting. I would recommend you to go back to September, enter each day's Hi, Lo & Close into the calculator and see how price behaves around those levels the following day. Place the cursor over the highlighted labels on the calculator for what they mean. My trade decisions are not entirely based on the calculator. I look at other things such as daily range, past few days' price action and I notice that usually, price comes back to the daily open level. The daily open acts like a magnet that attracts price back to it. Go to your 15 min chart a few weeks and you will see that price usually comes back at least once to the daily open. The calculator is of tremendus help thanks to Bobi, but I do not completely trade off of it. Hope this helps.
  • #2,294
  • Oct 21, 2010 6:37am Oct 21, 2010 6:37am
Quoting Villonius
Hi E Trader

I have a question for you.In Asian session 2nd low breakout was triggered after Pullback Level at 1.3918 was hit.Would you have taken that trade ?

The 1st breakout wasn't valid as price didn't penetrate 1.3984 from above from above.

Also I like your layout.Nice and easy to see the entry point and target.

Regards,


V

Hello Villonius,

My trading day starts 1 hour before London Open, so I don't trade during the night.

"I have a question for you.In Asian session 2nd low breakout was triggered after Pullback Level at 1.3918 was hit.Would you have taken that trade?"

No, because there was an uptrend (watch the higher timeframe H1)
During the uptrend a retracement occured with a bullish reversal candlestick pattern (Hammer).
The entry was at the open of the next bullish candle.

Regards,
eTrader,
  • #2,295
  • Oct 21, 2010 6:46am Oct 21, 2010 6:46am
Thanks for your reply E Trader

Pretty much what I expected.See my earlier reply to LuckyLady.It looks to me like you trade on the Abonacci signals which fit in with the overall scheme of the market movement.

Do you do the re-calculation as per my most recent question for LuckyLady ? If so how do you do it ? Along the lines of my query ?

Cheers

V
  • #2,296
  • Oct 21, 2010 6:50am Oct 21, 2010 6:50am
Quoting Villonius
Hi Lucky Lady sorry to bother you again.

Similar question to the 1st.

1st Breakout to the downside triggered.Do you take this trade or do you ignore once the bullish trade was triggered earlier.From what I have seen you tend to indicate that once a trade has been triggered and completed you re-calculate and you use the new figures. Yes it would be wise for once a target has been reached to than recalculate and see if the recalculation points to the same bias or there is a change.

So I assume when you do this...

In regards to the re-calculation that’s purely a personal thing what I mean by that is if you want to recalculate at any time during the day you can, what most do is find a swing high a swing low than take the close of the recent swing so if last candle was down you would use the close of that. This method is ideal for those who want to take very short term positions i.e. scalping.
  • #2,297
  • Oct 21, 2010 6:59am Oct 21, 2010 6:59am
Hi KDX

Thanks for your reply

Regards


V
  • #2,298
  • Edited 10:06am Oct 21, 2010 9:55am | Edited 10:06am
Quoting Villonius
Hi KDX

Thanks for your reply

Regards


V
Villonius,

This is all what I have how to recalculate new targets.

In regards to recalculation there is no set rule.

If you wish to recalculate after every 4H bar than you can do so.
Bobi has mentioned that this method can help you to find where a 4H bar will close.
So if you want, you can try recalculating after a 4H candle close.

You can recalculate at the end of every trading session, or use a swing high or low point.

There is no set rule on how to recalculate.
Recalculating at the close of day (NYtime) is what most seem to be doing.

Once it had gone through both down targets, a lot of us recalculated with the high of today,
the low of today and the close of the lowest candle.
This helps you see how things are moving.

Regards and trade well,

eTrader,
  • #2,299
  • Oct 21, 2010 10:13am Oct 21, 2010 10:13am
Quoting eTrader
Villonius,

This is all what I have how to recalculate new targets.

In regards to recalculation there is no set rule.

If you wish to recalculate after every 4H bar than you can do so.
Bobi has mentioned that this method can help you to find where a 4H bar will close.
So if you want, you can try recalculating after a 4H candle close.

You can recalculate at the end of every trading session, or use a swing high or low point.

There is no set rule on how to recalculate.
[color=black][font=Verdana]Recalculating...
Funny thing is, I recalulated the 12.00 4h bar, with H: 1.4040, L: 1.3977 and C: 1.3992. The LBO1 target was 1.3938 and the next bar closed at that to the pip! Coincidence? Hardly.
  • #2,300
  • Oct 21, 2010 11:16pm Oct 21, 2010 11:16pm
Thanks for that, I think. If you want to refer to things like this, perhaps do so via a link or reference as part of any question you're raising about the system or EUR/USD. otherwise this thread could become diverted away from analysis of the day.
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