Interested in becoming a Fozzy-style trader?
Page 1 of 842 12 LastLast
Results 1 to 10 of 19

Thread: Interested in becoming a Fozzy-style trader?

  1. #1
    Here is how I Fozzy-style trade with Daily charts:

    Initially it was my aim to only discuss PBs and a Fozzy-style indior, but I've since decided to show how I utilize the basic 8 over 8 Fozzy indior along with other PA indiors.

    First: that works for me, maybe it will work for you also. If not, I hope this information will help especially, and others to utilize PA PBs more. Do not trade this manner without a comprehensive comprehension of what I am doing and only after backtesting and demo trading!

    A few words about the standards that I like to use and why:

    I am looking for”A” trades; the top, higher quality setups. There are many fantastic opportunities to waste time with'marginal' trades. I examine Weekly and Monthly charts for a'feel' for what a pair is currently performing; I trade off the Daily primarily and occasionally utilize the 4 Hour for a historical entry. (I will discuss that in a later article; for now it is all about the Daily chart).

    PBs are well defined and many have their own interpretation of the indior. I like a little body (I use candles because to me they're more'visual') using a long wick; I do not have any set rules about size and proportions and so-forth, I just know what I like to view; and surely an extremely long'nose' using a little body is perfect; there's one on the attached chart. Some traders call this discretion.

    Fozzy-style trading is all about trend reversal, it may be for only a day or two or it may be much longer; again the attached chart shows both (it is among my favorites, GBP/USD. Like, GBP/USD has been good to me also!) . IMO Pin Bars are also so when a PB shows up using a trade signal, I listen. But only after I've seen two days of price movement in precisely the same direction (that the PB may or may not be included in two days). A change will not be traded by me after one day of motion in the contrary direction; too risky. I will be kept out of more losers, although I may overlook a few deals. I want some momentum. I've two MAs on the chart for effect; aids me'view' the current tendency. It's nice when these near and/or cross, but that I do not NEED that. I DO NEED that the RSI/MA (Fozzy indior) lines to be closing, shut and/or crossing; that is a large area of the transaction signal. That is one of the advantages of trading Daily charts (4 hour too), there's NO HURRY, we've got lots of time to create a trade decision after carefully analyzing ALL the factors that enter our decision. One more thing: there'll likely be Fozzy-style crosses as shown on the chart, but if I really don't have some form of PA arrangement, I will dismiss the crossagain, also many excellent opportunities to take risks.

    OK the chart:

    June 5: potential PB, but RSI/MA not near. Wait!
    June 6: spinning top, good!
    June 7: Trade signal in the close of the day; Fozzy cross, MA's cross using a”Bridge”, large bearish candle=momentum (I'd have looked at the four hour chart throughout the day for potential early entry, more on this later)
    June 8: 150 pip transaction which has a little S/L needed

    June 8: PB reversal? Wait and watch
    June 15: Fozzy cross and MA cross
    June 18: Buy signal; 400 pips and small S/L

    July 4: PB? Not a trade setup! July 2 candle is UP, 3rd is Down, 4th is UP......No transaction!

    July 6: PB looks good, Fozzy cross potential, watching 4 hour for confirmation.
    July 9: Watch the 4 hour chart and BUY, 350 pip trade, confirmed about the 10th

    July 11: PB? No!
    July 16: PB? No!
    July 19: False Fozzy, PA does not agree with this RSI/MA crossplatform.
    July 20: PB? No!

    July 24: PB? Yes, confirmed throughout the daytime on the 25th. 350 pip exchange

    July 30: PB?
    July 31: Fozzy cross not near enough for mein hindsight I overlooked a trade, but did NOT break my rules!
    Aug 1: Another PB?
    Aug 2: Buy signal confirmed with all the 4 hoursmall payout, about 90 pips

    Aug 3: PB?
    Aug 6: PB confirmed on the four hourbut in the end of the day we've got a Dual Top with a lower close, nice PA to keep in the Sell! 130 pips

    Aug 8: PB? The bosy of the candle is waaaaaay significant.

    Aug 8 9: The same situation as Aug 3 6 together with the Dual Best; Aug 9 includes a Fozzy cross down
    Aug 10: Sell...............but in the end of the day, is that a PB that just formed? In your profit for current fad , then wait and see.
    Aug 11: Sell continues.............550 pips possible

    Aug 16: PB? Fozzy indior not near enough to pick, will wait yet another day
    Aug 17: Glad I waited.............amazing PB; but it takes three days for a Fozzy cross AND a MA cross AND a price break of the cap of the PB
    Aug 23: Buy at the price break, fantastic momentum today, 200 pips

    Aug 27: PB?
    Aug 28: This is a demanding one. No Fozzy cross or shut to the Daily; the 4 hour will set you in the trade OR a break of the PB's base .
    Aug 29: In case you waited, it was a loser.

    Aug 31: PB? I want two days of price movement in precisely the same direction; no here! 29th was UP, 30th was DOWN, 31st was UP; no transaction!

    Sept 12: PB? OKtime to”adjust the rules”. 7th was UP, 10th was DOWN, 11th. But waitthe candle around the 10th has been a two pip Doji; it doesn't count, I shall”ignore” it. And there was a Fozzy SELL on the 12th. Whenever there's a Fozzy signal and a PB, I will trade that. I am still in that trade!

    Hopefully this explanation is helpful and I have not left out anything or made too many mistakes. There'll be a few questions; I will do my best to answer them. And that I shall post something later about using exactly the very same indiors and standards on a 4 hour chart. In the meantime, if this interests you, why don't you devote some time that in your own. Cheers!

    Almost forgotI really do use S T levels as appropriate; that is why I have the red and blue dot indior to remind me of past levels of significance AND I will use Fib levels and retracements; but I still really don't see a need to explain that, everyone has their own way of applying them.

  2. #2

  3. #3
    Thank you to this publiion....Have been trading for a little while and I'll most likely be totally ashamed when I see the answer, but you speak about PBs and PA indiors. What does PB and PA stand for? I'm thinkin' back??? may be meant by PB Am I close. Thanks,

  4. #4
    Fozzy 4H on USDCAD and im Utilizing PA went after RSI and DBLHC cross over MA. I've lock in profit and still watching...

    I don't understand why I cant attach any pictures ...

    Ill be trying to show you this transaction...

    Take care...

  5. #5
    I went long on USDCAD Using price action and Fozzy 4H for 114 pip profit. !!

    PS. Still can't upload images...

  6. #6
    Quote Originally Posted by ;
    Nice PB into the 61.8
    pf1966, really good one. Did you choose it?

    Would you sugesst me a fantastic thread to start studing FIBONACCI stuff? Im beginning to find the powerfull it is.

    Take care...

  7. #7
    Well done!

    Quote Originally Posted by ;
    Today I went long on USDCAD Using price action and Fozzy 4H for 114 pip profit. !!

    PS. Still can not upload images...

  8. #8
    Quote Originally Posted by ;
    , really good one. Can you choose it?

    Can you sugesst me a fantastic thread to start studing FIBONACCI stuff? Im starting to find the powerfull it is.

    Take care...
    Yes I did. Sold @ 1.2910. Closed out 2/3 @ 1.2700 this morning. Cease now @ 1.2813 for your rest. Watching the trade to be now managed by the 4h.
    Nice bounce on the usd/cad. Interested to see where it closes.
    Fibs are very subjective. Traders use these in ways that are various. If you would like to trade intra 14, try Fibonacci trading by Bobkus on FF. Neill Hughes (Fibmaster) is regarded as one of the best fib traders around. A google search will find other people. Personally I just watch 2 important levels (sometimes the 76.4) and price response to them. Better on TF. I just trade 4h and generally daily.


  9. #9
    This really is a trade a entered this morning on NZDJPY with PRICE ACTION AND 4H FOZZY.

    I noticed and Doble Bar Low Higher Close (HBLHC) then then I wait patiently for next bar to cross 23.6 FIB. I check RSI heading on 4H for MA. Took a look and noticed RSI was already crossed MA. I went long over the high of 8:00 EST bar.

    This time lock in profit 50 pips...

    Please Im only a begginer..BB and pf1966 and many others feel free to create your usefull comments...

    Take Care...

  10. #10
    Take your choice.

    All rejected 8ema and fib level.


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners.