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- Dazfx replied Mar 20, 2008
Hi, You click on the AB Fib Expansion line, and then drag the smaller line to Point C. Hope this helps.
- Dazfx replied Mar 20, 2008
Yes I did mention that I avoided the trade as it was against the trend. EURUSD was at the start of a correction and hence the setup was present. Remember, you could have a setup inside a larger retracement. -DAZ-
- Dazfx replied Mar 20, 2008
Yes fractals may help. But if you keep your waves relatively small (by working on the appropriate Time Frame), you would easily identify the swing points. When I wrote this system, I was under the assumption that people would easily identify swing ...
- Dazfx replied Mar 20, 2008
To enter fib levels, you right click on the dotted lines, and go to 'properties'. There you enter the levels you want. 0.50, 0.618, 0.786 & 1.000. And in the description field, just add FE 0.50, etc. If you are talking about the blue lines below the ...
- Dazfx replied Mar 20, 2008
Hi there, I see you tried it on the 15min TF. As you go onto lower TFs, the setups become less accurate, though you do get more setups which make up for it. A problem with that chart is that the AB wave was too big. You can find the retracement off ...
- Dazfx replied Mar 20, 2008
Fibonacci Expansion is a tool that comes with almost every platform. I did not draw it manually, I just chose the 3 points (A,B,C) and the Fibonacci Expansion (FE) Levels should come up automatically. You can add more levels by clicking on ...
- Dazfx replied Mar 20, 2008
Okay. This is an example of a Jan 17 trade (perfect setup). 1H on GBPJPY image This is the 5min chart of the same trade showing how you can enter on the break of a support level (some knowledge in candlesticks ideal). image I hope this helps. ...
- Dazfx replied Mar 20, 2008
Hi ThunderWolf, Yes, for Fib Expansion, your points would be A, B, C. C being the retracement high. Please take a look at the charts in my first post, the blue dotted lines are Fib Expansion lines. Thanks
- Dazfx replied Mar 20, 2008
Hi, 5SMA is used to give you a better entry, as price usually retraces to this level. It is not used as a confirmation for entry, only to give you the best RISK/REWARD trade. For example, in a short trade setup, you will see the confirmation candle ...
- Dazfx replied Mar 20, 2008
Yes for the 4Hr Wave (Large wave on the Hourly) you would have entered at around 200.60 with S/L at 201.80. But I prefer working on the 1Hr TF, so you would have caught yesterday's wave: (Swing High: 201.17 ; Swing Low: 195.80) which retraced 61.8% ...
- Dazfx replied Mar 20, 2008
LOL!! In all the excitement, I forgot about that.
- Dazfx replied Mar 20, 2008
2nd TP hit at 195.36!! Moved my stop to B/E and letting the 3rd lot run freely. Target 3 = 194.60 Since this is a no risk trade, I will just let this one run and call it a day. Hopefully, more setups tomorrow. Thanks
- Dazfx replied Mar 20, 2008
Target 1 - 195.99 Hit on PJ! 2nd Target @ 195.36
- Dazfx replied Mar 20, 2008
You are right about Divergence not working on its own. But, its presence can definitely add strength to your signal.
- Dazfx replied Mar 20, 2008
Yes, I trade for a living. And with Jacko's AntiHedge, I have not modified anything. I agree 50pips isn't enough in this volatile period, but I would rather endure some losses than to try and change an awesome model. Thanks
- Dazfx replied Mar 20, 2008
I have 3 strategies. ABCD Frankfurt/London Breakout EURUSD AntiHedge (by Jacko)
- Dazfx replied Mar 20, 2008
Well done!! I am also in the EJ trade, but i have taken out 2 lots at Targets 1 & 2. Waiting for Target 3 to hit at FE 100.
- Dazfx replied Mar 19, 2008
The blue dotted line is the Fib Expansion. Thanks
- Dazfx replied Mar 19, 2008
If you want to get a better entry, go to the 5/15min TF after the confirmation candle has been formed. Look for a reversal candle to make the entry (ideally near the 5MA on the hourly). This way, you will be able to place the tightest of stop and ...
- Dazfx replied Mar 19, 2008
Yes gagiul got it right. You take the trade in the direction of the daily trend (if you are trading off the 1hr) and not based on action of one daily candle. Btw, Gagiul, good luck on the trade. I would have scaled out a position at FE 50 though, ...