Powerful Fib Based System - by DAZfx - page 2

[DAZFX]

Regarding the use of Fibo.

Fibo can be interpreted in different ways (intraday swings, session swings, wave swings). But I always look at wave swings as I have found them to be the most effective. Please take a look at the charts I posted to see how I draw fibs.

I mainly look for setups on the hourly chart, and ideally, the wave AB (swing high to swing low in a downtrend) should consist of around 4-10 candles. If the impulsive wave (AB) is larger than 10 candles, you should look at that setup on a larger time frame.

Hope this helps.

Thanks

[Linuxser]

Linuxser:
Hi,

Thanks for system.

But please, could you upload the pictures to the forum?

Because if for some reason they aren't accessed within some days the host could delete it and the post becomes empty.

DAZFX Please.

[DAZFX]

Linuxser:
DAZFX Please.

Hi, sorry, I am hopeless with these stuff. Can you please tell me how to place attachments here? I keep getting some error message when I try.

Thanks

[Linuxser]

[DAZFX]

Here are some recent trade setups.

GBPJPY on the 1hr

GBPJPY on the 1hr

EURCHF on the 4hr

EURUSD on the 4hr. I did not take this trade as it was against the trend setup, but it did work out very well. You could have taken this as the Stop Loss is very tight giving an excellent Risk/Reward setup.

By the way, I hope you have noticed how the time it takes to form 'AB' wave is roughly how long it takes for 'CD' wave to form. Using this, you can predict your exit point.

Thanks

DAZ

[DAZFX]

Here is another trade I took recently based on this method.

Thanks

[DAZFX]

Really appreciate the help Linuxser. I have changed all the attachments now.

Thanks

[Guyver]

DAZFX:
Here are some recent trade setups.

GBPJPY on the 1hr

GBPJPY on the 1hr

EURCHF on the 4hr

EURUSD on the 4hr. I did not take this trade as it was against the trend setup, but it did work out very well. You could have taken this as the Stop Loss is very tight giving an excellent Risk/Reward setup.

By the way, I hope you have noticed how the time it takes to form 'AB' wave is roughly how long it takes for 'CD' wave to form. Using this, you can predict your exit point.

Thanks

DAZ

Thanks for further explanation and charts this looks like a good system. Can you elaborate further if there is any subjectivity in this system which needs to be considered?.

[[Deleted]]

CD waves

Hi DAZFX !

Do you have any indicatiors for those wave or you are only looking at fibs levels to figure the impulse and correction?

Thx in advance!

[[Deleted]]

Hi DAZFX,

Can you upload the indicator you used. I Search through this forum but cannot find those similar to the one you used.

Thank you