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Aboonacci System - for EUR/USD prediction

  • #2,581
  • Oct 29, 2010 3:54am Oct 29, 2010 3:54am
Quoting sam2vt
Impressive explanation! Thanks.

How do you know it's short begining from 1.3950?
Your Welcome! I have deleted my Set up by mistake. The trade was taken by my own method.

Cheers
  • #2,582
  • Oct 29, 2010 3:54am Oct 29, 2010 3:54am
Hi Bobi

I have spent the last week reading through this thread.

I have been studying and trading FX for the past 2 years. In that time I have trialled many different systems. None of which I have been able to have consistent success with. Then I stumbled upon your system.

All I can say is that it is AWESOME!

I don't claim to understand the entire system as you have presented it but I have gained enough knowledge to pull 40 pips out of the market yesterday and today. I'm sure that over time I will become more proficient.

Thank you for sharing. Good karma to you.

Sincerely
John
  • #2,583
  • Oct 29, 2010 3:57am Oct 29, 2010 3:57am
Quoting bonzer
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.

Also another area, I'm watching is the 3814 low end of trend identify if this is broken then US session should be bearish as well.
  • #2,584
  • Edited 4:15am Oct 29, 2010 4:04am | Edited 4:15am
Quoting kiwiparis
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
As I understand you can find the lower low add value into the close section of the calculator for new levels, then again I am not an expert or authority on this system. Look at my last post with image it might give you some insight.. I'm short and EU is preeeeeeeeety bearish...

Cheers
  • #2,585
  • Oct 29, 2010 4:15am Oct 29, 2010 4:15am
Quoting aebab
Thanks for all your feeling about trading with Abonacci System .
I see now many are believing that market levels are predetermined and with that idea you are trading . I feel I am getting to my goals to change the way of trading . I say whenever all are pointing toward the same direction and same point(TP) then that will be a system to carry. You see that in the market , price is going to a certain level . But each person is giving an idea and a level . But in this system all traders are pointing to the same direction and level . Like today that...
A thousand thank you and respect for unlimited sharing your system bobi.

I work with four alternately with the template, trend identification and calculator now feel I test Breaks Out Level on different timeframe (M1, M5, M15, H1, Daily) ... and it's incredible precision !

For example, when I took the closing of a candle M5, I have price targets some candles later and is highly predictive!

I don't know what do you do this but it's very surprising presicion.

I do not know how long you will have the kindness to share your knowledge, but thank you again to do it now.
  • #2,586
  • Oct 29, 2010 4:20am Oct 29, 2010 4:20am
Quoting FXMajors
As I understand you can find the lower low add value into the close section of the calculator for new levels, then again I am not an expert or authority on this system. Look at my last post with image it might give you some insight.. I'm short and EU is preeeeeeeeety bearish...

Cheers
Thanks for your reply, yes I think short is the only way to be today so far..
  • #2,587
  • Oct 29, 2010 4:27am Oct 29, 2010 4:27am
Hi..

I am new here..

Where can i download the software and templates or notes?

Thanks,
k
  • #2,588
  • Oct 29, 2010 4:39am Oct 29, 2010 4:39am
Hi FXMajors

Thanks for your interpretation and particularly the method for re-calculating after a level is broken to identify a new range.

On the original daily calcualtion the Down Trend Sentiment was at 1.3815 and on my chart (FXCM) it touched 1.3813 before reversing which is exactly 2 pips.
So the theory is that if this level gets broken conclusively then we can enter it as the new close to generate the next set of Bearish Fib levels.

It seems to be heading that way right now.

Thanks

V
  • #2,589
  • Oct 29, 2010 4:47am Oct 29, 2010 4:47am
V I hope this will answer your question.

Cheers
Attached Image (click to enlarge)
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  • #2,590
  • Oct 29, 2010 5:14am Oct 29, 2010 5:14am
Quoting marsgodlee
Hi..

I am new here..

Where can i download the software and templates or notes?

Thanks,
k
A good place to start would be the first page.

http://www.forexfactory.com/showthread.php?t=255974
  • #2,591
  • Oct 29, 2010 5:15am Oct 29, 2010 5:15am
Quoting FXMajors
As I understand you can find the lower low add value into the close section of the calculator for new levels, then again I am not an expert or authority on this system. Look at my last post with image it might give you some insight.. I'm short and EU is preeeeeeeeety bearish...

Cheers
You are absolutely right. EU just broke the DOWN TREND SENTIMENT level which I have at 1.3815. It has gone as low as 1.38066. Now we know NY session is going to be BEARISH. Let's wait and see where we close for the week.

BTW: I beleive UK is changing their time from Daylight savings to regular time over this weekend on Sunday. I'm not sure how this will affect FXPro's chart. So keep that in mind.
  • #2,592
  • Oct 29, 2010 5:21am Oct 29, 2010 5:21am
Quoting segaram
You are absolutely right. EU just broke the DOWN TREND SENTIMENT level which I have at 1.3815. It has gone as low as 1.38066. Now we know NY session is going to be BEARISH. Let's wait and see where we close for the week.

BTW: I beleive UK is changing their time from Daylight savings to regular time over this weekend on Sunday. I'm not sure how this will affect FXPro's chart. So keep that in mind.
Hi,
Keep in mind GDP in 2 hours. Not sure if we are allowed to post outside link? There is a small application which will help you adjust your timing.

Cheers
  • #2,593
  • Oct 29, 2010 5:24am Oct 29, 2010 5:24am
Quoting segaram
You are absolutely right. EU just broke the DOWN TREND SENTIMENT level which I have at 1.3815. It has gone as low as 1.38066. Now we know NY session is going to be BEARISH. Let's wait and see where we close for the week.

BTW: I beleive UK is changing their time from Daylight savings to regular time over this weekend on Sunday. I'm not sure how this will affect FXPro's chart. So keep that in mind.
Thats right, we change back to GMT over the weekend, so be aware that instead of London opening at 10am FXPro time they will open at 11am FXPro time.
  • #2,594
  • Oct 29, 2010 5:24am Oct 29, 2010 5:24am
BTW: I beleive UK is changing their time from Daylight savings to regular time over this weekend on Sunday. I'm not sure how this will affect FXPro's chart. So keep that in mind.[/quote]


you are right, this sunday at 03:00 will be 02:00 just gmt
  • #2,595
  • Oct 29, 2010 5:25am Oct 29, 2010 5:25am
FX yes that makes sense.I get the same figures when entering the 1.3815 Down Trend Sentiment figure.

So basically the re-calcualted range is 1.3826 - 1.3739

1st test is 1.3809 at the 61.8 if fails that will likely test the 38.2 fib at 1.3770

I think one of the problems why people struggle a bit with understanding this is the labelling of levels as support and resistance.

For example labelling the Close_Resis. Why resistance? As far as I can see this is more like a support level as Pullback Signal is here and that says should not be broken.Only if the level gets broken by 10 pips can we call it a Resistance level.

By the way that is another confusing thing.Bobi says 2 pips is sufficient for a level to be broken so if price reaches 1.3806 we can consider that broken.
BUT Pullback level there says broken is 10 pips so which figure do you take?

Interestingly the 61.8 fib in the Dark Grey section is called Down_Supp and the 38.2 fib in the light grey section is called UP_Resis now they make sense!

So really it's just the nomenclature on that middle section.

On a slightly different note todays bearish action in London session is not really that surprising.

PA tested 61.8 fib of that big down move and then reversed in Asian session.My understanding of general Fib trading methods is that a reversal at 61.8 will test the 38.2 fib and if that fails then 23.6 and likely 0 is on the cards.

The 23.6 is 1.3815 which Bobi targeted as the Down Trend Sentiment to break.

Final point is that a short trade would have a stop just above the Close_100% say 1.3830. I note this just got tested and reversed off it.

Thanks for all your help and pictures to make sense of this Calculator Bobi has very generously supplied.

Cheers


V
  • #2,596
  • Oct 29, 2010 5:28am Oct 29, 2010 5:28am
Quoting luckylady
Thats right, we change back to GMT over the weekend, so be aware that instead of London opening at 10am FXPro time they will open at 11am FXPro time.
Hello LL Where have you been?
  • #2,597
  • Edited 5:45am Oct 29, 2010 5:31am | Edited 5:45am
Quoting Villonius
FX yes that makes sense.I get the same figures when entering the 1.3815 Down Trend Sentiment figure.

So basically the re-calcualted range is 1.3826 - 1.3739

1st test is 1.3809 at the 61.8 if fails that will likely test the 38.2 fib at 1.3770

I think one of the problems why people struggle a bit with understanding this is the labelling of levels as support and resistance.

For example labelling the Close_Resis. Why resistance? As far as I can see this is more like a support level as Pullback Signal is here and that says should not...
You said it cosmetic appeal of the calculator is outstanding and the levels prediction are awesome, for clear understanding we do need adjustments on the labels. In regards to your levels analysis I agree with you 100%

Cheers
  • #2,598
  • Oct 29, 2010 5:33am Oct 29, 2010 5:33am
Quoting FXMajors
Hello LL Where have you been?
Still here fxmajors
  • #2,599
  • Oct 29, 2010 5:40am Oct 29, 2010 5:40am
Quoting luckylady
Still here fxmajors
I have posted few snap shots of my interpretation earlier of this amazing system called Aboooooo ! was hoping if you can comment on them feel free to correct me if I'm wrong, I'm still trying to understand. I believe you have much better understanding of the system since you are a privileged group member?

Cheers
  • #2,600
  • Oct 29, 2010 5:44am Oct 29, 2010 5:44am
Quoting Villonius

I think one of the problems why people struggle a bit with understanding this is the labelling of levels as support and resistance.

For example labelling the Close_Resis. Why resistance? As far as I can see this is more like a support level as Pullback Signal is here and that says should not be broken.Only if the level gets broken by 10 pips can we call it a Resistance level.
Taking the price from the very middle point, anything trying to go up is going to have to go through resistance and trying to go down they will go through support. Its the logical way to label it.
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