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Fibonacci Trading with Bobokus

  • #21
  • Oct 8, 2007 8:30pm Oct 8, 2007 8:30pm
Quoting iiivb
Don't think I want to mess-up with your thread; I know this is yours and your technique is being discussed here... I just wanted to bring-up some feedback... hope doesn't bother you...

iiivb
Not at all post away, i dont condem anything else I just trade what i know works for me.
  • #22
  • Oct 9, 2007 4:47am Oct 9, 2007 4:47am
Hello Bobokus,
Give us some time to absorb your method. Many who are familiar with fibs still have to adjust to your application. (Me).
I'm glad to see you here.
  • #23
  • Oct 9, 2007 5:27am Oct 9, 2007 5:27am
Quoting TEugene
Hello Bobokus,
Give us some time to absorb your method. Many who are familiar with fibs still have to adjust to your application. (Me).
I'm glad to see you here.

NP, and hello TEugene been a while since ive seen ya around
  • #24
  • Oct 9, 2007 5:34am Oct 9, 2007 5:34am
Even though this time the break of the low worked out it wasnt the picture perfect setup i was looking for but ill put these in the bank, Done for now till we get another break short or another waveform develops from now into the US session.Price has hit my target 2 of the the swing set and target 1 from the Intraday set so ill close my shorts here.
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  • #25
  • Oct 9, 2007 5:46am Oct 9, 2007 5:46am
Ive moved the swing fibs now and if it breaks low ill keep pulling the to the new low that developes if this isnt it now, what ill be looking for... is if price can rally now and break back through the swing set of fibs or another rejection occurs.
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  • #26
  • Oct 9, 2007 9:08am Oct 9, 2007 9:08am
  •  ovie
  • | Joined Apr 2007 | Status: IT IS THE LORD'S DOING... | 89 Posts
I trade forex onbehalf of a poor community in the jungles of the niger-delta in west africa. I have no knowledge about fibs and probabaly that is why i have more lossess than wins. i am ready to learn.
The Lord will do far exceedingly, above all that I will ever ask or think.
  • #27
  • Oct 9, 2007 9:30am Oct 9, 2007 9:30am
Quoting Bobokus
I would like to open a thread to discuss trading based on fibonacci, I know there are alot of traders out there including myself who trade with nothing but Fibs and I would like to share, along with gain some knowledge with other Fib traders. I have tried numerous methods but about a year or so ago I started looking more and more at fibs and began to see the repetitive nature and how price reacted to them. I have become pretty successful with Fibs now and think I can give something back, because I remember how hard it was to get started trading Forex with no experience.
Originally Fibs were very confusing so I simplified them to some degree and have had developed my own strategy with them. More or less a Fib breakout type strategy.
If there are any of you interested here is a sample of what my strategy looks like within the chart and we can discuss more if there are any traders interested. For the most part I only trade GBP/USD, but I have been known to take on a few others.
Ill post the actual strategy in the next coming post as well as open the thread to any questions.
Hi Bobokus,

I really salute you, man! It is very kind of you to share this method. In fact i have been searching around for the past two weeks, hoping some traders will share this method, at last YOU ARE THE ONE!

I am still a newbie for this method, and i ready to learn more from you.

Once again, Thanks a lot!

mattrader
  • #28
  • Oct 9, 2007 10:01am Oct 9, 2007 10:01am
Glad to see people are starting to take notice here. looks as is i was wrong about how far it was going from yesterday but i think i did mention where price would go if the low was broken. Anyway gonna try and snatch a few on the retracement now, ive already moved to break even since this is a high risk trade..what we are looking for currently are the lime swing fibs to see if price can continue to retrace by breaking through this sets (Long) fib.if it doesnt this will be my last trade for the day. Will reset my fibs this afternoon and make the projection call for tomorrow around the same time today...7PMcentral.
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  • #29
  • Oct 9, 2007 10:22am Oct 9, 2007 10:22am
I just got in today for EUR/USD at 8.30p.m ( Malaysia time ), this pair just started to climb up from level 0.618, so i enter at 1.4028. My target at level 161.8, which is at 1.4087.

If my method of plotting is wrong, hope somebody remind me, thanks.

mattrader
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  • #30
  • Oct 9, 2007 10:34am Oct 9, 2007 10:34am
Let me pull up a euro chart...brb
  • #31
  • Oct 9, 2007 10:44am Oct 9, 2007 10:44am
I just made a quick analysis of the euro and i would not trade it untill you see it break out from the grey highlighted area...sorry it took me a minute I am mobile at the moment
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  • #32
  • Edited 11:03am Oct 9, 2007 11:00am | Edited 11:03am
This is where we stand currently, im done for the day with good amount of pips and gonna sit the rest of the day out...time to go play.Ended with 142 pips today from 3 shorts and 1 long on the retracement...not bad huh!. If you look at the chart im posting you can see why ive closed the long now, we have retraced to the 50 fib...from the move down (Intraday fib now)may see more fib traders shorting again here but im done...Keepin what i got. If this continues down into tonight we may be moving our Range fib up to the current down move....

Later.....Bo'
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  • #33
  • Oct 9, 2007 12:17pm Oct 9, 2007 12:17pm
Thanks Bro. Very Informative.
  • #34
  • Oct 9, 2007 12:28pm Oct 9, 2007 12:28pm
Quoting mattrader
Thanks Bro. Very Informative.
NP, thats one of the reasons we are starting this thread
  • #35
  • Oct 9, 2007 1:20pm Oct 9, 2007 1:20pm
Quoting Bobokus
This is where we stand currently, im done for the day with good amount of pips and gonna sit the rest of the day out...time to go play.Ended with 142 pips today from 3 shorts and 1 long on the retracement...not bad huh!. If you look at the chart im posting you can see why ive closed the long now, we have retraced to the 50 fib...from the move down (Intraday fib now)may see more fib traders shorting again here but im done...Keepin what i got. If this continues down into tonight we may be moving our Range fib up to the current down move....

Later.....Bo'
Well done........may you continue to prosper....
Adam
  • #36
  • Oct 9, 2007 2:11pm Oct 9, 2007 2:11pm
Quoting sitges
Well done........may you continue to prosper....
Adam

Thank you kind Sir, i wish the same for you.
  • #37
  • Oct 9, 2007 7:01pm Oct 9, 2007 7:01pm
Looks as if I stopped trading too early today, news this afternoon must have put it in motion again, its over moving on.
Cable responded very well yesterday to fib levels and i expect the same tonight, may have to go with the break of the high here tonight if so may have to sweat out a few dips but it apears we are gonna test the topside of the range now..Ideal trade would be for price to visit the trade zone and we could take the break from there. As i type this price is starting to move. Need to be cautious as price come into contact with upper trendline as it should respect it, a break there would be a good sign in a long position..too many candles riding it without a clean break would be a bad sign.


Long on a bounce from 2.0337
Targeting 2.0420/2.0440
On a break of the high target the same...closing on reentry of the high, or a failure at the upper trendline.
------------------------------------------------
Short on a break of 2.0306
Targeting 2.0270/2.0250

If i see something of note to post as the night developes ill enter a post to update my position.
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  • #38
  • Oct 9, 2007 7:54pm Oct 9, 2007 7:54pm
First attempt on the trendline failed rolled back on me for break even gonna wait for the break this time but shortens the range to the target.Raised my upper trendline to the top of the wicks instead of the bodies also.
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  • #39
  • Oct 9, 2007 10:14pm Oct 9, 2007 10:14pm
Hey Bo..

I see your posting here again. Looks like you've added a few more refinements to your system. Good on ya Bo.
  • #40
  • Oct 9, 2007 10:21pm Oct 9, 2007 10:21pm
Thanks Dave, not really much new too it though ,you know the old saying If it aint broke dont fix it.
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