Fibonacci Trading with Bobokus

Sounds like a job for me since I'm using the method anyway and it's easy to open an independent chart window to keep things all in order.

What were the criteria for the entry and was it the opening of 0400?

I took this trade around the time price passed above swing long. Not my usual method of analysis to take a break of a swing long, especially centered around long candles like this, but I was watching for a long entry since the candle where swing high is now drawn from. That candle failed to go far so I watched closely how the following 2 hours flowed and I felt the currently drawn swing long was a stable place to take a long.

From the way I looked at it, the move down from swing high to low as shown, there was a 61.2% (swing long) retracement I noticed spiking around within the hourly candles as I observed, so I knew it was bouncing into a tightening spiral after having made the most major possible retrace of the move, and so it was time for a clean break whenever the spiral was done.

I was biased long for the day since we started out with an intraday high break during Asia and found support there (until that swing dip below it).

So because of my daily bias and the stability I witnessed, I took a long off swing long and it shot straight up to a confluence of 3 fibs I have on my chart....Swing T1, Intraday T1, and Intermediate Pivot (I have my intermediate drawn across the big 2 day down move a few days ago. I just used it because it was handy when I was looking at the chart, I could have drawn a new fresh fib for it, but what would I call it? When I try to think of a good name for such a temporary fib, the best name IS intermediate).

As I type this, I've been stopped out for a +6 gain. I knew and was tempted to cash out when I was up almost +50 but it was all an experiment anyway with 1 mini lot. If it were a bigger deal, even just 2 mini lots, I'd have cashed out 1 and let the other get stopped.

And I think I'll leave it alone for the day unless I see something clear up, things are getting too back and forth (there's been a bunch of GBP news, maybe that's it) and there's US news coming in a few hours.

Maybe I'll look at it again if I see something shaping up around 9am EST, after the news of the day is done and that being a time of day I've observed some new moves to occur or reversals of trends from overnight.

Definitely a crazy day. Maybe I should just close the charts and open them at the next Asia so I don't get conned into trading for the sake of it.

Yes it was the opening of the 0400 candle, I had my swing fib pulled from the 1800 candle to the 2200 candle, price broke through the swings levels early during the asian session then made a quick dip back to it, 0400 candle was the first to open above the long of the swing and plenty of room, 50 pips or so to the Intradays Short fib.

I just double checked our charts, it looks like my feed has the candles timed 1 hour after yours, that's part of my confusion. Your 0400 is my 0500.

This would be an example of placing a Range Fib now in the event the market goes into a ranging period.We had a big move down and now crossed the envelope (Linear Weighted 64)."Switching back to the linear weighted by the way. LW env will fit closer to price than the Simple".
The reasoning for using a Range fib is we need price to break from its high or low in order for the market to have a direction again.It also gives us Support and Resistance levels if the market does begin to range now.
Intraday and Swing fibs are sill placed in the same manner.

Waiting now to see if price is pushed farther down or makes a retracement from this move down this morning.I would like to see it retrace this move down and travel into the Swings levels to set up another entry for today.
No Intraday fib yet untill today is completed since we have a use for Range fib now and it will fill the Intradays purpose untill today is over or we get another large movement today.

Ahh, the difference in the Brokers
0000GMT for me is 6pm central

After that big down move I couldn't resist expecting a retrace up once it seemed to bottom out. It had a tail right down to intraday pivot and then stalled near intraday long so I thought what better place for an entry, an escape from intraday long with a stabilization of a short 1 hour positive candle closing above the long.

I went long on that while observing the big down move with the biggest swing set I've ever played on. I knew if it was going to do any retracing up, it was going to most likely make it at least to the 38.2% swing short level before starting to stall. It did.

At the time of this writing it's still stalling there and looking a little bearish. I've exited this time with 30 pips.

This time I'm really done for the day. I have to go buy some locking pliers and food...two separate reasons.

LOL, I wont ask

I don't see the daily and intermediate fibs. Are entering on this trades based on the range fibs and swing fibs?

"I have to go buy some locking pliers and food...two separate reasons"

At least one of the strangest things I have ever read.
Are the pliers used during the consumption of the food?? Do you get them at the same store.
Was the demise of the mule (R.I.P) involved.
Maybe I just need sleep.

Surely, Skunny must have the answers to this!

I opened another chart it just doesnt have the daily and intermediate fibs on it...only to clear some clutter.They are still my other chart

Good exit here if you were short from the last swing. Im done with Cable for today

Still holding 1 short on GBP/Yen and Ill be done for the day !

Looking back on today's movement it's funny that I traded the two backwards moves counter trend (in hindsight). Oh well, at least my moves combined could have granted almost 100 pips if I had cashed out on them at the extreme target points they reached, lots of room to take realistic profit.

What I would have done different looking back, on the first trade that reversed on me with the big down move, I wouldn't have gotten in on that down move because it came out of nowhere and I was biased long, but once I traded up on its 38.2% retrace and saw it reverse again (bouncing from a new swing short from the big down move), I could have not just cashed out at my +30 pips, but stop and reverse if I felt it really was bouncing and going to reverse for a down move again.

If it were still going to respect the intraday long and bounce up from it, there was still enough room for a swing short bounce trade toward intraday long. It would have paid off but even looking at it now I don't know if I'd have found it easy to decide about getting short.

Maybe if I had updated the swing so the low is still at intraday pivot where the down move fell, and the high would now be at the bounce level where things reversed to go down...I could look for a break of the swing short (which would be a 61.8% down trace of the small up move I traded, rendering the up leg complete and a new short bias). Only problem there is the intraday long is just 7 pips below that swing short and I'd be afraid of resistance.

So even looking in hindsight and working through the possible steps, I still can't see how I'd get into that second big down move. Oh well, didn't need to.

The pliers were used before the food was consumed. They were to modify 2 light fixtures, the new energy efficient bulbs were too long so I had to rotate the sockets inward to let the glass cover fit back on. Once I could see in the room, I moved on to the food. And I shopped at 2 different stores.

Doesn't everyone need a good set of pliers to prepare their food? I never sit down for a meal without my entire tool box near my side. The message here is....always be prepared. Duh!