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Phantom5000

  • #101
  • Jun 4, 2015 4:34pm Jun 4, 2015 4:34pm
I will use POST #1 for updates & information on this system.

Administrative Note:

If you are having problems with high volatility and high spread at the opening of the markets hitting your stoploss, then this may help to fine tune the system. On the following pairs, place the FIBO on the candle indicated per market. Subtle, but effective.

EURAUD-1ST CANDLE OF OPENING LONDON
GBPUSD-1ST CANDLE OF OPENING LONDON
GBPCAD-2ND CANDLE OF OPENING LONDON
GBPNZD-2ND CANDLE OF OPENING LONDON
GBPAUD-2ND CANDLE OF OPENING LONDON
GBPCHF-2ND CANDLE OF OPENING LONDON
GBPJPY-2ND CANDLE OF OPENING LONDON
EURNZD-2ND CANDLE OF OPENING LONDON
EURJPY-2ND CANDLE OF OPENING LONDON
EURUSD-2ND CANDLE OF OPENING LONDON

GBPUSD-1ST CANDLE OF OPENING NEW YORK
EURUSD-1ST CANDLE OF OPENING NEW YORK
GBPJPY-1ST CANDLE OF OPENING NEW YORK
GBPCAD-1ST CANDLE OF OPENING NEW YORK
EURJPY-1ST CANDLE OF OPENING NEW YORK
EURAUD-2ND CANDLE OF OPENING NEW YORK
GBPCHF-2ND CANDLE OF OPENING NEW YORK
GBPAUD-2ND CANDLE OF OPENING NEW YORK
GBPNZD-2ND CANDLE OF OPENING NEW YORK
EURNZD-2ND CANDLE OF OPENING NEW YORK
  • #102
  • Jun 5, 2015 7:25am Jun 5, 2015 7:25am
GBPNZD 27.0
GBP/CHF 12
EUR/USD 26.5
EUR/USD 26.6
EUR/JPY 29.9
EUR/JPY 24.9
GBP/CAD 7.5
**** GBP/CAD -57.6
EUR/AUD 13.2
EUR/AUD 31.2
EUR/AUD 30.3
EUR/AUD 33.1
EUR/AUD 31.5
EUR/AUD 5.5
GBP/AUD 7.8
EUR/NZD 7.5
--------------------
TOTAL Today for
London Session
256 PIPS
  • #103
  • Jun 5, 2015 7:59am Jun 5, 2015 7:59am
Hi Phantom, would you mind showing us your EU trade, with the fib setup and the exact trade, please. I traded your setup and encountered a loss with this pair today.
Thanks.
pete
  • #104
  • Jun 5, 2015 8:08am Jun 5, 2015 8:08am
OUCH!!! New York Session did a number on us.

My MT4 platform was not fast enough.

It opened pending order late because market jumped so fast and then my stoploss hit when price quickly retraced.
Then price continued.
What should of been a big win turned out a loss.

Never know what can happen in a matter of seconds.


Attached Image (click to enlarge)
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Attached Image
  • #105
  • Jun 5, 2015 8:39am Jun 5, 2015 8:39am
Quoting pete123
Hi Phantom, would you mind showing us your EU trade, with the fib setup and the exact trade, please. I traded your setup and encountered a loss with this pair today. Thanks. pete
Hi Pete,

EURUSD is not one of my favorite pairs to trade with in London Session.
I studied the chart and noticed it was opening the market under a Resistance @ 1.12615 from date 5/22/2015.
Another Resistance was near @ 1.12849 from two Sessions ago.
I took caution and placed my FIBO on the closing high of the 1st Hour Candle.
I placed pending orders around the SPO line and then closed both sell trades after STP1 was passed.

I am regretting closing early. As you can see I would of made a boat load of pips if I left them open.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.H1.png Size: 27 KB
  • #106
  • Jun 5, 2015 9:11am Jun 5, 2015 9:11am
Again, as a professional trader, it is very important to look past the Set-N-Forget idea.
Using my system is good but not without it's flaws.
Consider the following when placing trades.

CAUTIONS:

RESISTANCE AREAS
SUPPORT AREAS
RETRACEMENTS
TREND IS UP
TREND IS DOWN
IS THERE DIVERGENCE
PREVIOUS MARKET WIDE/NARROW
HIGH IMPACT NEWS
IS IT FRIDAY (Unpredictable market movements)
IS IT MONDAY (Have we studied the market to see what it is gonna do?)
SHOULD YOU WAIT FOR 2ND CANDLESTICK AT MARKET OPENING

Happy Pipping
  • #107
  • Jun 5, 2015 9:27am Jun 5, 2015 9:27am
Hi Phantom!
It seems that this monster candle is a result by high impact news.
Can you please give me the open price of London session and New York session. I have changed to another broker and heīs using another server time. Due to that I have to modify my chart setups. And again, the difference of time is confusing me!
  • #108
  • Jun 5, 2015 9:46am Jun 5, 2015 9:46am
Quoting fegeme
Hi Phantom! It seems that this monster candle is a result by high impact news. Can you please give me the open price of London session and New York session. I have changed to another broker and hes using another server time. Due to that I have to modify my chart setups. And again, the difference of time is confusing me!

Use this software. It helped me in the beginning.

http://www.forexmarkethours.com/

http://www.forexmarkethours.com/fore...itor_v2.12.exe

As far as Price open. You can open the DATA WINDOW on your MT4 platform, hover your cursor over the candle and it will tell you everything about that candle.

Attached Image (click to enlarge)
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  • #109
  • Jun 7, 2015 1:52pm Jun 7, 2015 1:52pm
thanks for your system
  • #110
  • Edited 4:50am Jun 8, 2015 4:35am | Edited 4:50am
Hi Phantom, first of all I am impressed by your system! Thanks for sharing it

I just made a forecast on E/U and here's what I got... what do you think?

Calculating the fibo on the 1H chart can refine the forecast?

The target can be reached in the US session too if it didn't reach the tp in the London session?

Also, as I'd like to test the strategy this week, which pairs do you think it's better to start with?

Thanks in advance.
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  • #111
  • Jun 8, 2015 8:03am Jun 8, 2015 8:03am
EURUSD LONDON
EURJPY LONDON
EURAUD LONDON
GBPUSD LONDON
GBPJPY LONDON
GBPCHF LONDON
EURNZD LONDON
GBPCAD LONDON
GBPCAD LONDON
GBPAUD LONDON
GBPNZD LONDON

GBPUSD NEW YORK
EURUSD NEW YORK
GBPJPY NEW YORK
GBPCAD NEW YORK
EURJPY NEW YORK
EURAUD NEW YORK
GBPCHF NEW YORK
GBPAUD NEW YORK
GBPNZD NEW YORK
EURNZD NEW YORK

This is what I got for my forecast 1st candle EURUSD. BTP1 hit. Trailing is already in the positive.
Attached Image (click to enlarge)
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  • #112
  • Jun 8, 2015 9:59am Jun 8, 2015 9:59am
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Hi phantom

that is what i got today from London Session
why it's different than u
thanks
  • #113
  • Jun 8, 2015 11:46am Jun 8, 2015 11:46am
Your template is not correct.
See post #1


*FIBO Template:
Depending on which way you had drawn your FIBO

120.0 BTP3
100.0 BTP2
76.4 BTP1
65.0 BPO
61.8 SSL
50.0 SESSION OPEN
38.2 BSL
35.0 SPO
23.6 STP1
0.0 STP2
-20.0 STP3
  • #114
  • Jun 9, 2015 12:31am Jun 9, 2015 12:31am
Caution: London Session
Sentiment:
Not to trade these pairs until we know what the market is gonna do

Overbought Zone again possible whipsaw taking out both BSL &SSL

EURJPY near Resistance @ 141.000
----------------------------------------------
EURUSD near Resistance @ 1.1330
------------------------------------------------
GBPUSD near Resistance @ 1.5362
-----------------------------------------------
EURAUD near Resistance @ 1.4719
also above ADRH 5-day @ 1.4688
possible reversal toward ADRL 5-day @ 1.4490
In Overbought Zone
--------------------------------------------------------
GBPJPY FLAT
----------------------------------------------------
GBPCHF in Oversold Zone
Not near either Support or Resistance
  • #115
  • Jun 9, 2015 12:03pm Jun 9, 2015 12:03pm
What a wonderful morning.

515.7 PIPS in my wheelbarrow this morning!

Somedays I can't stop smiling.

Happy Pipping All.
  • #116
  • Jun 9, 2015 2:48pm Jun 9, 2015 2:48pm
Quoting Phantom5000
What a wonderful morning. 515.7 PIPS in my wheelbarrow this morning! Somedays I can't stop smiling. Happy Pipping All.
Congratulations!!! If there isnīt enough place for so many pips, send them to me!
Today Iīve learned I still need some training to master this strategy. A script for placing all the orders will be a help!
  • #117
  • Jun 9, 2015 3:07pm Jun 9, 2015 3:07pm
Yes, a script would be helpful, one that will let you decide what candle to place your FIBO on and whether or not to trade that session (on/off switch). I am working on a universal FIBO for each pair that will combine the average of the last 14 sessions. This way we might be able to use an expert advisor like the THV Cavemanager v1.41 to automatically place stops and take profits (example 0.01 lot) per TP1 & TP2 maybe even TP3. This will save a lot of tedious inputting per pair, per session. I will test out my strategy with it and if it looks good I will upload the preset for each pair.
  • #118
  • Jun 9, 2015 3:08pm Jun 9, 2015 3:08pm
Quoting fegeme
{quote} Congratulations!!! If there isnt enough place for so many pips, send them to me! Today Ive learned I still need some training to master this strategy. A script for placing all the orders will be a help!
I am trying to send pips to all the traders that use my system. I just need to make it simpler to follow and what cautions to look out for before placing trades.
  • #119
  • Edited 12:56am Jun 10, 2015 12:36am | Edited 12:56am
Cautions:

EURJPY & GBPJPY : Huge news. Major market swing. Very Volatile. You should not trade after a huge candle. Wait to see what markets is gonna do.
Today's EURUSD market was tight. Think about expanding your FIBO & BSL,SSL or wait for the close of the first candle and place at either closing low or closing high.
GBPUSD High News Impact 1 hour after market opens. GBP Manufacturing Production m/m Trend can easily change its direction. Wait to see what the market is gonna do. Consider setting FIBO on closing high or closing low of this candle.
  • #120
  • Jun 10, 2015 1:21am Jun 10, 2015 1:21am
Quoting Phantom5000
Cautions: EURJPY & GBPJPY : Huge news. Major market swing. Very Volatile. You should not trade after a huge candle. Wait to see what markets is gonna do. Today's EURUSD market was tight. Think about expanding your FIBO & BSL,SSL or wait for the close of the first candle and place at either closing low or closing high. GBPUSD High News Impact 1 hour after market opens. GBP Manufacturing Production m/m Trend can easily change its direction. Wait to see what the market is gonna do. Consider setting FIBO on closing high or closing low of this candle....
Hi Phantom ..

I don't understand what do you mean by "Consider setting FIBO on closing high or closing low of this candle"
can you explain at chart please

thanks
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