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Aboonacci System - for EUR/USD prediction

  • #2,561
  • Oct 28, 2010 10:00pm Oct 28, 2010 10:00pm
I am new to Forex and also I am interested in Abonacci method. Currently I am setting up by drawing fibonacci levels between current and previous phase. I am using 1 hr chart. It will be very helpful if anyone of you post a screen grab of your setup. This will help to verify my setup and move forward.

Appreciate your help!
  • #2,562
  • Oct 28, 2010 10:03pm Oct 28, 2010 10:03pm
Quoting aebab
are you sure that nobody knows?!! even now with this software you can do it . just needs a little pry! If someone can give a good suggestion will be invited to the group. I am trying to move and walk with your steps . upto tomorrow, if nobody shows a way I will teach how to know that it will reach to a certain level or not. Its very easy .
Even you can specify the stop loss for both buy and sell . Very easily you can determine that price will be reversed or not .When you see the solution , you may hit yourself why you could not grasp the subject...
I think the Pictures are self-explanatory.
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  • #2,563
  • Oct 28, 2010 10:21pm Oct 28, 2010 10:21pm
Quoting mtbf40
I hope it will work on win7 64 bits this time - please
Maybe your anti virus dont let it work!
  • #2,564
  • Oct 28, 2010 10:27pm Oct 28, 2010 10:27pm
Quoting segaram
I think the Pictures are self-explanatory.
Pretty cool! But, does that address this bit from Bobi?

Quoting aebab
Even you can specify the stop loss for both buy and sell . Very easily you can determine that price will be reversed or not.
  • #2,565
  • Oct 28, 2010 10:33pm Oct 28, 2010 10:33pm
Quoting kenfen69
Pretty cool! But, does that address this bit from Bobi?
I'm trying to go one step at a time here. I'd like to get Bobi's take on my take before I go further with this. But I'll definately look into it on my own and see if I can come up with the answer.
On the other hand, I think the stoploss can be placed a few pips away from the opposite sentiment level. For example, yesterday price broke the UP Trend Sentiment in London Session and we knew from that point on that New York session was going to be bullish. That means our stop loss for yesterday could've been placed a few pips below the Down Trend Sentiment of 1.3685. I know placing the SL at this level may not be acceptable due to it's size of the possible drawdown, but I don't have anything else at this time.
  • #2,566
  • Oct 28, 2010 10:42pm Oct 28, 2010 10:42pm
Sounds good. Doing the same myself. Two times I have thought I found the answer...negatory!

I think I might be over thinking it. Trying to think more "babyish" as the man says! :-)
  • #2,567
  • Oct 28, 2010 11:10pm Oct 28, 2010 11:10pm
This appears to be great system but as I can see there is confusion among the users on how to use it. Everyone interpreting in his/her own way trying to figure out what is the correct way to use it. I myself find it very hard to interpret these numbers given by software. Appears to be ambiguity in documentation provided. For example, someone says breaking level but breaking from downside or upside?? Word document provides gives some clarity but does not mention anything about recalculating where as several users keep recalculating the numbers to get 0% or 100% levels. Appear that we need to recalculate these number after certain level is reached. If someone can put few rules to address these concern in simple unambiguous language it will be great.
Thanks for sharing such a great system.
AshN
  • #2,568
  • Oct 28, 2010 11:43pm Oct 28, 2010 11:43pm
Quoting segaram
I think the Pictures are self-explanatory.
I don`t think that is the answer but I don`t know. 15.oct for example, it didn`t even hit UP sentiment, and maxed out at UP 50%.
  • #2,569
  • Oct 29, 2010 12:23am Oct 29, 2010 12:23am
Quoting TurboTommy84
I don`t think that is the answer but I don`t know. 15.oct for example, it didn`t even hit UP sentiment, and maxed out at UP 50%.
If you go over October 15th, you will notice that NEITHER the UP TREND SENTIMENT NOR the DOWN TREND SENTIMENT was hit during London Session. Price went right upto UP TREND SENTIMENT during NY session, but didn't break it by more than 2 pips. The DOWN TREND SENTIMENT was, however, broken in the early NY session. I think on October 19th, the bottom target of Down_0% was hit. I'm not sure why it got hit on the 19th, but maybe because neither TREND SENTIMENTS was broken during London Session. Hope that answers your question. Therefore, I stand to be corrected.
  • #2,570
  • Oct 29, 2010 12:29am Oct 29, 2010 12:29am
I don`t know what sentiment values you have, but mine were 1.4157 and the high of the 5m candles were 1.4158, but somehow 15/30/1h candles show 1.4151

Online charts say 1.4159 or so. Might be why that day seemed "weird" to me.
  • #2,571
  • Oct 29, 2010 12:53am Oct 29, 2010 12:53am
I was going over the original pdf and it shows how price came below the 50 fib of the blue fibonacci then he waited for a pull back and entered a sell at the 76.4 lvl of the white current phase reversal fibonacci pretty much exactly what happened earlier today except we haven't yet reached the 38.2 but it if your in a sell could be a potential target.
  • #2,572
  • Edited 2:20am Oct 29, 2010 1:24am | Edited 2:20am
Here is my interpretation let see if I am using this calculator correctly.Correction at the time I was taken the screen shot the price was .3876. typo not .3738 as showing on the image No1.

Cheers
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  • #2,573
  • Edited 2:51am Oct 29, 2010 1:36am | Edited 2:51am
I forgot to add the last screen shot. . I personally trade LONDON / NY I calculate and plan my trade @ 9:00 am GMT. Today was exceptional I got in early

Cheers

.3857 is now broken
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  • #2,574
  • Oct 29, 2010 1:56am Oct 29, 2010 1:56am
Picture speaks volume. You have done the best explaination (if correct) to using the calculator.

If we can get a pictorial view like this, understanding the calculator will be much easier.

Bobi has tried very well to do it, maybe with pic like this, many will get a better gist.

Thanks FXMajor.

ibuks

Quoting FXMajors
Here is my interpretation let see if I am using this calculator correctly.Correction at the time I was taken the screen shot the price was .3876. typo not .3738 as showing in the image No1.

Cheers
  • #2,575
  • Edited 3:24am Oct 29, 2010 2:00am | Edited 3:24am
HERE IS THE LONG SET UP AS I UNDERSTAND. Current trend is short so do you DD before you jump into the market. (Remember GDP today) You may have read on this thread Bobi was explaining about (2 pips) you can see on the image below .3829 - .3827.
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  • #2,576
  • Oct 29, 2010 2:03am Oct 29, 2010 2:03am
Quoting Ibuks
Picture speaks volume. You have done the best explaination (if correct) to using the calculator.

If we can get a pictorial view like this, understanding the calculator will be much easier.

Bobi has tried very well to do it, maybe with pic like this, many will get a better gist.

Thanks FXMajor.

ibuks
Your Welcome!
  • #2,577
  • Edited 3:59am Oct 29, 2010 3:33am | Edited 3:59am
NOT RECOMMENDING SHORT OR LONG. My personal observation according to the calculator and price action at current price as I understand. We have BROKEN THE CLOSE_SUPPORT OF .3829 IMO ITS 38.2 LEVEL

Cheers
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  • #2,578
  • Oct 29, 2010 3:48am Oct 29, 2010 3:48am
Im going off of the original calculation here and bobbi mentioned that you can only use the swing break out numbers if you enter other close numbers in. But the original day calculation. Pull back level is 3840 so that has been broken with a tendency level of 3754. I would say this has further to go on the down side.
  • #2,579
  • Oct 29, 2010 3:50am Oct 29, 2010 3:50am
FXMajors. Thanks for your post have been following this thread for a few days now. If I understand correctly does it mean that if you miss an entry at a certain level ie once it broke 1.3857 earlier today you can wait till it breaks the next level of S or R by 2 pips and enter long short there? targeting the next level?

Thanks
  • #2,580
  • Oct 29, 2010 3:51am Oct 29, 2010 3:51am
Quoting FXMajors
I'm currently short since @ 3950 (LOCKING PROFIT THE TRADE WILL REMAIN OPEN KEEP IN MIND GDP TODAY)
Impressive explanation! Thanks.

How do you know it's short begining from 1.3950?
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