Powerful Fib Based System - by DAZfx

This strategy seems to be confirming my "Market Pressure" Strategy, I dont know if i am allowed to post it here.

If it is related to it then post it here but if it is separate method then better u start new thread.

BTW: you are bondfx who posted some breakout methods on some other sites???

Both short setup on A/U and E/U 1 hour.

Happy new year to y'll

MORE THAN $500 WITHIN LESS THAN 3 HOURS USING THIS STRATEGY..
WHAT A WONDERFUL SYSTEM..

COME ON GUYS , LET'S KEEP THE GOOD WORK UP...

Which pair did you trade khalidhassan ?

all pairs , i just keep drawing and re-drawing fibo on all pairs using 4h TF, when i find a good chance i take it .

what about you ?? are you still using this way of trading , till now i have not finished reading all pages of this thread . am very sad because i've found this thread too late , no body is following now , every body is away,no more discssions .

belive me it is a big loss this thread is frozen....

Hi Naijafx . hi every one

can anyone provide me with the roles of using (5sma) in this strategy , how this 5sma can be used to enter or exit a trade.

You will be using 5sma to enter a trade. When price is on 5sma you enter.

We don't use 5sma to exit.

For exits, please refer to 1st post of the thread.

You should use Fibo Expansion tool to set your exits.

Best.

Thanks Bee , but what do you mean by (When price is on 5sma you enter)..???
would you explain using some old charts.?????

waiting for a candle to confirm the (Long)...
any comment will be highly appreciated..

Hi khalidhassan
Here the rules by DAZfx

Long
Generally, you are buying in an uptrend, when the AB impulse wave retraces to the 61.8 or 78.6 level. Before pinpointing a precise entry, you wait for the next candle (confirmation candle) to form. This must not exceed the low made by the retracement and has to be a bullish reversal candle (ie, Harami, Doji, Bullish Maribozu, Bullish Belt hold, etc).

At the precise entry point:

1) The new candle following the Confirmation Candle is on or near the 5 SMA.
2) On the Stochastic Oscillator window, the fast stoch (blue line) has already crossed or is crossing the slow stoch (red dotted line) and hooking up. This cross should not happen in the overbought region (80 or above).

Short
Generally, you are selling in a downtrend, when the AB impulse wave retraces to the 61.8 or 78.6 level. Before pinpointing a precise entry, you wait for the next candle (confirmation candle) to form. This must not exceed the high made by the retracement and has to be a bearish reversal candle (ie, Harami, Doji, Bearish Maribozu, Bearish Belt hold, etc).

At the precise entry point:

1) The new candle following the Confirmation Candle is on or near the 5 SMA.
2) On the Stochastic Oscillator window, the fast stoch (blue line) has already crossed or is crossing the slow stoch (red dotted line) and hooking down. This cross should not happen in the oversold region (20 or below).

happy new year sir... forex again

Hey Naijafx - i remember you from trade the slope a few years back. looks like you are doing well. i've been reviewing this thread and wondered if this was a valid trade on GBPUSD. Appreciate any feedback. I want to try this system on demo for a while. it looks solid. so far it looks like my trade is not working out.

Within 2 weeks ,

usually (hit&run)....

I will answer my own question as the GBPUSD daily is clearly in an uptrend and was right at the lower line. So the daily would have screened me out of the trade. the more i look at this system the more promising it is. toughest part might be to screen all the pairs.

looks like GJ might be setting up for a solid long here but i can't see full chart here at work. looks like bullish reversal on 1-hour right on trendline. daily trend is ++.. i can't see the fibs here but suspect it might be lined up based on the last A wave

Hi Traders, I just found this site and think this is a very good system. I would like to know if anyone here has used this on the daily TF with success, as I can't be in fron of my screen for smaller TFs.

Thanks in advance for your reply,

C.

Hi Traders ,

Iwill start uploading parts of a wounderful trading course (6 GB of pdf and video files )..

it is the most pwoerful course i've ever seen.

I will upload just the part which explain using Fibo level to trade.


PART (1)
http://dc235.4shared.com/img/8PSd1v0...ol_in_an_U.avi

Sorry , that was PART(2)
now uploading PART(1)..